Market Watch – 26 September 2020

BTC 24 Hr High $11,179
BTC 24 Hr Low $10,899
BTC     + 0.06%


  • A renewal of altcoin interest with the bulk of flow coming from sellers of XMR and DOT, albeit in relatively modest size. Other than alts, the desk was a better buyer of BTC amid absent buyers. 
  • Similarly to last week, this week finished with a 79-21 split between buyers & sellers. Weekly buy-side and sell-side volumes dipped to a 1-month low among a loss of interest from market participants as the week progressed.


  • Sub-par 2-way flow in BTC that was sell-side led and widely reflective of a dreary and uninspiring market. Sellers outpaced buyers by a 3:1 split as buy-side demand dipped to a 2-week low.
  • The week concluded with gross trading volumes falling a whopping -65% week-over-week and sellers making up 85% of the week’s activity. 


  • Friday brought routine 2-way BTC flow with modest buy-side interest in ETH, DOT, and a handful of small-cap altcoins. A lackluster showing on behalf of both buyers and sellers resulted in BTC buyers comprising of more than 70% of the week’s activity.

Bitcoin Price Analysis – BTC Breaks Long Term Rising Trend Line – Are We About To Head Beneath $10,000 With Increased Volatility Incoming Tomorrow?

The break beneath the rising trend line could be the first signal that there is some substantial turbulence ahead for Bitcoin, which could see the price heading beneath the 5-figure level and collapse beneath $10,000. During yesterday’s price drop, Bitcoin had also dropped beneath the 100-day EMA support. 

Read more about Bitcoin Price Analysis . . .


DeFi coins have had their first correction dovetailing with the Uniswap airdrop that had everyone scrambling for their freebies. And while there has indeed been a pullback in the total value locked in cyberspace, the astronomical yields are still there to be farmed. 

Expect to see a myriad of second layer solutions and the substitute protocols to try and steal the eight billion dollar prize. 

Unfortunately the too-good-to-be-true yields are giving birth to plenty of scammers as more opportunists try to cash in on this gold rush and euphoria in the market. The tape bombs have done nothing to deter capital flocking to the space as we hear of yet another DeFi protocol successfully raising $3.6mn

Traditional markets: 

  • Tech stocks pushed Wall Street higher on Friday and sent the 3 major indexes up more than +1%, though the Dow and the S&P 500 finished in the red for the fourth consecutive week – the longest losing streak since August 2019. The Dow Jones rose +1.34%, the S&P 500 gained +1.60%, and the Nasdaq added +2.26% on the session.
  • The pan-European STOXX 600 index fell -0.10% while the MSCI’s gauge of stocks across the globe gained +1.03%; however, Friday’s strong performance wasn’t enough to prevent the global index from falling -2% for the week as concerns of a second wave of coronavirus-related lockdowns weighed on sentiment.
  • Treasuries were little changed as the 10-year yield traded in a 5-basis-point range for much of the week; the benchmark 10-year note fell -7bps for a yield of 0.6561%, down from 0.664% on Thursday.
  • Gold was on track for its biggest weekly decline in close to 2 months. Weakness this week was not only in gold, but silver too. Silver tumbled -14% since Monday, registering its largest weekly loss in more than six months. 
  • Chinese data show broader and stronger recovery in August. Retail sales expanded 0.5%YoY, for the first time since the crisis. 

Philip Tam

Co-founder & CEO


Kraken, OSL, coindesk, Defi Pulse, CoinMarketCap, Coincodex, CryptoSlate

John Hancock Investment, Bloomberg

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市埸觀察 – 26日 9月 2020年
市埸觀察 – 26日 9月 2020年

BTC 24 小時平均價: $11,179BTC 24 小時最低價: $10,899BTC: + 0.06% 亞洲市埸情況回顧 ➲ 從XMR和DOT社群中出來的賣家支撐了大部份山寨幣的資金交易, 大部份交易的交易額為正常規模。除此之外 , 在沒有特別泡沫的情況下,BTC仍是最好的投資目標。 ➲ 與上週相類似, 本週買入與賣出比例為79-21.隨著每週的交易的結束,從市埸參與度分析,本週買方與賣方的交易數量跌至一個月以來的低點。 歐洲市埸情況回顧 ➲ 由賣方主導的 BTC 二級市埸平價流動,反映出市埸廣泛的沉寞和缺乏鼓舞類信息.因為買方需求跌至2週以來的新低,賣方以接近 3:1多於買方人數。 ➲ 本週交易量環比下降 65% ,本週85%的交易是由賣方賣出產生。 美洲市埸情況回顧 ➲

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