Q9 Markets: Half Empty or Half Full?

  • BTC dips below $40k for first time since Sept ‘21
  • 12 month CPI confirmed at 7%
  • Crypto volumes empty; NFT volumes brim
Source: Glassnode
Source: Skew
Source: Dune Analytics
Source: OpenSea
Source: Dune Analytics
  • BTC/USD fell -1.3% while ETH/USD dropped -5%. The total market cap of crypto flirted with the $2tln mark and Bitcoin’s dominance dropped below 40%
  • SOL/USD and EOS/USD dropped -2.9% and -5.8%. YFI/USD was the key DeFi laggard dropping -12.9%
  • Annualized volatility in BTC continued to subside dropping to 43% for BTC. However it rose to 84% for ETH this week
  • Client pad skewed towards buying (1.4x buyers vs sellers) on modest volumes
  • Two way activity in ETH. Well bid on BTC
  • Net buyers in SOL and SUSHI

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Q9 Capital

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Buy, sell, and store digital assets with ease. Invest with the trust of an established financial services provider with 40 years of group history.

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