Looking at American equity indexes, it’s been almost a year without a real correction -the last time was in October 2020. With September often being a tricky month for risk assets, many people are feeling both happy about the steady rise up but also fearful about the possibility of a pull-back. With delta variants coming up, Fed speech coming up and end-of-year expectations, it will be interesting to watch.

In the meantime, crypto traded mixed yesterday. BTC is sitting still on the session but alts definitely gained some ground.

While BTC hovers above $47,000, some alts are on an incessant ramp. DOT, in particular, gained 10%, along with the parachain KSM up 20%. AAVE gained 12%. We also saw strong performance from ETH, up 6% and passing the recent local top, along with COMP and LINK, gaining 4-5%. 

On the other hand, a few coins definitely underperformed, I’m thinking of XTZ down 3.5% and also LUNA, somehow down almost 10% on the session.

Broadly speaking, when looking at market data, the dynamics remain the same and remain -for now- supportive. Miners aren’t selling, alleviating the pressure on markets and allowing buyers to pile in and push things up. Exchange’s netflow remains negative, highlighting that investors themselves are currently holding, instead of selling further. That’s across BTC and alts with maybe the exception of ADA that saw some inflows after the explosive ramp up.

An indicator that was already discussed before is the Puell multiple, looking at miner’s issuance and revenue. On a longer-term basis, it seems to be a good view of the different phases. Right now, thanks to a CryptoQuant analysis, we see that we might very well be in just the beginning phase of a massive bull run, in which the pullback from 60K to 30K was just the first correction.

Away from market data and onto news, things are actually relatively quiet but it’s interesting to hear more rumors of Jack Dorsey potentially launching his own decentralised exchange for BTC.

While decentralised finance grows, it’s interesting to see regulators, in the US but also abroad, move forward to regulate even further.

Oh, and, last information nugget. Did you see that NFT’s searches on Google Trends just hit a new all-time high. It looks like the interest is just not stopping these days. I can’t wait to hear about more fortunes made -or lost- over some of the art going around.

I reply to all comments on my YouTube channel; if you have any questions, feel free to head over there and shoot🙂  

Follow Me On YouTube On: https://www.youtube.com/c/JustindAnethan

Follow Me On Twitter On: https://twitter.com/justindanethan

Sign up on EQONEX via: https://tinyurl.com/y7yyj4xs