Market Snapshot – Markets Await Data, a Stable Day for Cryptocurrencies

Stock Markets Under Pressure

The strength of the dollar and the prospect of rates rising has been putting in a lot of pressure on the stock markets and they have responded so far by moving lower and lower in a slow and steady manner. This was expected in the short term and this move lower has been made worse by the uncertainty in the minds of the traders and investors who are  unable to invest with confidence on the back of choppy markets and also with the fall from a few weeks back, still fresh in their minds. The European stock markets have had their own issues to deal with, which varies from strong data to QE tapering to Italian elections and German elections as well. All these factors are weighing on the stock markets and with the election results expected over the weekend, we could have a relief rally if things go according to plan but with the end of QE in sight, we doubt whether the rebound would last long.

Cryptos Stable

In the crypto market, the BTC prices are making another beeline towards the $11,000 region and after a brief trip a couple of days back, they are expected to make another attempt at any point of time in the short term. But still, the traders and investors have not been able to buy with confidence as it is not one way traffic at this point of time. This has led to some choppy trading which is making it difficult for the investors to trade with a clear mind. That is why we are seeing more and more traders exiting the BTC market and looking towards the ICOs and this is in turn bringing in more pressure on the BTC prices as time goes on. That is why we have been saying that the top is in for the BTC prices.