POKKET: Today’s Market Commentary (January 12)
Bitcoin corrected in 24hrs, starting with selling in Asia and continuing to US time, touching as low as ~$30400. After hodling the $30k line, BTC rebounded and is now trading $35k, and only down -8% in 24hr period. ETH took a larger hit, but has held up in similar fashion, touching as low as $916 overnight and now trading $1085, -13.5%.
Movers are MTH ZRX RLC -19%, SXP DENT -18%, BAL OMG -17%, POLY MATIC YFII -15% and rest are down except for MKR +16%.
Peter Schiff saved Bitcoin again by tweeting exactly when BTC touched its low – he is one of us, whether he realizes or not.
News which went under the radar in CT was the attack on Tor which brought some marketplaces down, literally an attack on anonymous internet – Wasabi wallet which operates on Tor was safu. Bakkt (remember them?) is going public via a merger with Victory Park Capital, an SPC.
Traditional markets were lower overnight with SPX -0.7% and FAANGs -2.6%. Michael Burry says his TSLA short is getting bigger; TSLA -8%. Competitors are quickly coming, with Nio, a Chinese EV maker, and Nvidia partnering to put chips into vehicles – think M1 chips for cars. The Apple and Hyundai are looking to announce their engagement in March, honeymoon soon to follow. Lucid Motors is in talks to go public through an SPC. Big things happening in the EV space. It’s electrifying…
Check out today’s interest rates at POKKET.