Bitcoin Surges To Record High, Dollar Dives As US Economic Outlook Plummets
Today was all about two things – what went up (crypto) and what went down (US economic growth forecasts).
The much-anticipated launch of a Bitcoin (Futures) ETF sent the cryptocurrency to a record closing high (yes we know BTC doesn’t “close”)…
Source: Bloomberg
Just below the record intraday high from earlier in the year…
Source: Bloomberg
Spot Bitcoin topped $64,000 intraday…
Source: Bloomberg
As BITO opened above its reference price, ripped, dipped back below it, then rebounded…
BITO traded well over $800mm making it the 3rd biggest opening day for an ETF ever…
And as crypto rallied, US economic growth forecasts fell to almost nothing…
Source: Bloomberg
Which did not help the dollar, as it broke down through recent support, near 1-month lows…
Source: Bloomberg
Stocks ended the day higher – after some serious whipsaws – led by Nasdaq and S&P while The Dow and Small Caps lagged…
Bonds were mixed once again but flipped the recent trend with the short-end bid, long-end offered (2Y -3bps, 30Y +5bps) as the economic outlook slowed…
Source: Bloomberg
Which unwound yesterday’s flattening in the 2s30s curve…
Source: Bloomberg
While Bitcoin surged, Ethereum also rallied but continues to underperform as the ratio finds support…
Source: Bloomberg
Commodity-land was mixed with silver outperforming and gold flat, oil up modestly and copper down as LME made efforts to control the chaos…
Source: Bloomberg
Finally, we note that bitcoin’s “market cap” is now rapidly approaching that of Silver…
As the entire cryptocurrency market cap topped $2.5 trillion – a new record high…
And Happy 34th Black Monday anniversary…
Tyler Durden Tue, 10/19/2021 – 16:00
Source: http://freedombunker.com/2021/10/19/bitcoin-surges-to-record-high-dollar-dives-as-us-economic-outlook-plummets/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
| Online: | |
| Visits: | 1,602,227,698 |
| Stories: | 8,146,649 |
Whistler Blowers, Insiders
