Enigma Market Update - 8 January 2022



Enigma Market Update - 8 January 2022
 

 

Saturday recap: selling pressure subsides

 

Market Movers
 

 

 

Desk Trading Flows
 

 

After a volatile week driven by macro headlines, prices settled into a tighter range this morning. Overhanging concerns of tightening monetary policy impacted all risk assets as crypto markets took a beating. Bitcoin stabilized near $41k, expected to trade sideways unless it breaches $38-40k support. Based on liquidation data, BTC & ETH futures markets signal healthier conditions moving forward after some traders got burned speculating on a premature market rebound. This morning the desk saw net-buying in BTC and more balanced flows in ETH, LTC, AAVE and BCH. 
Have a nice Saturday!

- Jory Fong, Digital Asset Sales: jfong@enigma-securities.io


 

Key Data & Headlines
 

 

 

Enigma Research
 

 

  • Ethereum's Next Step to POS, 12/6/21
  • Coverage Initiation: Perpetual Protocol, 11/4/21
  • BTC Basis is Back, 10/18/21

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DISCLAIMER:
The information contained in this note issued by Enigma Securities is not intended to be advice nor a recommendation concerning cryptocurrency investment nor an offer or solicitation to buy or sell any cryptocurrency or related financial instrumet. While we provide this information in good faith, it is not intended to be relied upon by you and we accept no liability nor assume any responsibility for the consequences of any reliance that may be placed upon this note. Enigma Securities Limited is an Appointed Representative of Makor Securities London Ltd., which is authorized and regulated by the Financial Conduct Authority (625054).

 
 
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