Digital Assets Weekly: September 22nd

Sep 22, 2020 • 5 Min Read

For a full copy of this report in PDF format please click HERE.

Market Analysis

This week, Bitcoin briefly traded above $11,000 before losing ground and ending the week down 1.9% at $10,455. Bitcoin has been exhibiting greater short-term correlation with the broader markets, which could be the primary reason for Bitcoin’s weakness in recent weeks. At time of writing, Bitcoin is currently trading at ~$10,500.

The video in this report is only accessible to members

Notably, Bitcoin’s decline corresponds with the decline in the equities market. Despite recent weakness, Bitcoin remains the best performing asset class on a year-to-date basis by a wide margin.

The video in this report is only accessible to members

The crypto majors continue to show correlation, and all of them declined this week. Amongst all the major crypto assets, Bitcoin’s decline was the most muted (-1.9%), whereas Litecoin had the largest decline (-11.4%).

The video in this report is only accessible to members

Altcoins are often viewed as a leverage play on Bitcoin, magnifying the direction Bitcoin moves in. Continuing this week, all the FS Crypto FX indexes were negative with the FS 40 performing the worst (-14.4%) and the FS 10 performing the best (-4.3%).

The video in this report is only accessible to members

Despite Ethereum’s negative performance this week, it is still up 166% YTD and is firmly the best performing crypto major. All the FS Crypto FX indexes are up more than 50% YTD.

...

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In