Q9 Markets: How High

  • BTC reaches all-time-high of $67k, dominance rises
  • ProShares BITO ETF launches on NYSE
  • JPM strategists believe demand is driven by inflation concerns
Source: TradingView
Daily Cartoon by The New Yorker
Source: NASDAQ
Source: Cambridge University
Source: Cambridge University
  • Fixed-income titan Pimco is starting to embrace cryptocurrencies, CIO says. Daniel Ivascyn stated some of Pimco’s hedge fund portfolios are already trading crypto-linked securities.
  • El Salvador is seeing an influx of dollars into BTC as Bitcoin prices rise. The Chivo wallet, the wallet of choice for the El Salvadorians, also saw a significantly higher usage rate than local bank accounts.
  • Walmart Inc. has started a pilot program in which shoppers can buy Bitcoin at Coinstar kiosks in some of its U.S. stores.
  • China’s state planning agency calls for public opinion on Bitcoin mining ban. The move could signal plans by Chinese authorities to amend its previous negative stance on Bitcoin and cryptocurrency mining activities.
  • Crypto exchange FTX raises $420 million from 69 investors, in meme funding round
  • Sotheby’s makes first crypto investment, backing NFT startup using Ethereum
  • Martha Stewart releases NFTs as more celebs tap into crypto craze. The 80-year-old lifestyle guru posted her collection of NFTs for sale on her digital store, called “FRESH Mint.”
  • BTC/USD rallied +8.5% printing a fresh ATH this week while ETH/USD rose +7.1%. The total market cap of crypto universe crossed 2.5tln mark and Bitcoin dominance rose above 46% at the end of this week
  • LTC/USD and LINK/USD rose +9.3% and +6.1% respectively. The majority of the DeFi names underperformed ETH and BTC
  • Annualised volatility rose to 79% for BTC while ETH saw a modest uptick in volatility
  • We saw profit taking on our client pad (7.1x sellers vs buyers) but on muted volumes
  • Net sellers in ETH and net buyers in BTC. Two-way flow on LINK
  • Mild buying activity in EOS and YFI

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Q9 Capital

Q9 Capital

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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