9th December 2023: Weekly Crypto Trends

Crypto Assets
Bitcoin and Ethereum have strong moves on the week, being up 14% and 13% respectively on the week.
Secondary coins were sharply better on the week, with gains of 40% in Avalanche and Cardano, followed by gains of 25% in Solana and Polkadot. All coins under review except BNB are in short term uptrends, and Avalanche, Cardano, Solana, Chainlink all make new short term highs.
Crypto related equities all made substantial gains with Marathon up 22%, Hive up 21% and Microstrategy up 13%. Coinbase now approaches some resistance at 150, Microstrategy makes new short term highs.

Other Crypto news
El Salvador Joy: Bitcoin’s rally to an 18-month high over $42,000 has pushed El Salvador’s BTC buys into the black, said the country’s president Nayib Bukele.

U.S. Senator Elizabeth Warren has popped out of the woodwork again, calling for the country’s Bank Secrecy Act to be updated to address the “threat” of crypto. “What we need to do is we need to update it again because there’s a new threat out there. It’s crypto,” Warren conveniently forgets that the vast majority of money laundering from drugs is undertaken in US Dollars. Maybe she needs to take another pill.

Bitcoin and Ethereum have strong moves on the week, being up 14% and 13% respectively on the week.

The ratio chart encounters the top of the range.

Secondary coins were sharply better on the week, with gains of 40% in Avalanche and Cardano, followed by gains of 25% in Solana and Polkadot. All coins under review except BNB are in short term uptrends, and Avalanche, Cardano, Solana, Chainlink all make new short term highs.