POKKET: Today’s Market Commentary (January 16)
Bitcoin started its correction last night and has carried overnight, touching a low of ~$34800, and now trading $36250. ETH follows closely, trading -5.6% at $1162. Movers are BAND BQX +14%, LINK +13%, OMG AAVE +10%, YFI -8%.
US lawmakers reintroduce a crypto crime bill to go after ‘terrorist use’, citing the latest Capitol riot funding allegation from France in BTC worth of $500k. Cardano founder Charles Hoskinson tweeted @jack calling for Twitter’s Blue Sky decentralization initiative to be fully open source, and also declaring he is working on a similar project. Goldman Sachs is sniffing around for info in an effort to explore digital asset custody, following the footsteps of JPM.
Traditional markets were softer, SPX -0.7%, FAANGs -0.3% ahead of earnings next week. DXY rebounding a bit, 90.8 while Gold lower to $1827.
Check out today’s interest rates at POKKET.