It was quite a week…
But cryptocurrencies made all the headlines this week…
Video length: 00:00:10
With Bitcoin crashing 43% from its highs before stabilizing around $13,000…
And then spiking above $14,000 into the US equity cash close…
On the week, Gold gained 1.6%, Bitcoin dropped 28% (the first time that's happened since the first week of September) and is the worst week for Bitcoin since Dec 2013…
Arbs disappeared across the crypto space as volumes picked up in futures…
Futures were halted numerous times this week but as is clear there was a bid off the lows this afternoon as panic-sellers left the market…
Limit Down Halt in CME Futs today…
(NOTE – one-way street lower since CME opened its Bitcoin Futures)
Ethereum, Litecoin, and Bitcoin were lower but Ripple managed gains on the week… but not before flash-crashing to unch today…
As we transition to equity market-land, it is worth noting that the cyrpto carnage leaked over into several firms…
While stocks were higher, so was VIX unusually…
Unsurprisingly, High-Tax companies outperformed Low-Tax companies on the week – back to cycle highs…
