Figure 1: Bitcoin CME Futures 3-Hour Chart (Source: Tradingview)
Figure 2: Sentix Strategic Bias – Bitcoin (Spread) (Source: Sentix)
Meanwhile, we've seen a mixed bag in the altcoin space, with ETH and MKR jumped about 5% while ATOM and XTZ gave up 4% and 1%, respectively. Altcoin watchers won’t want to miss the Ethereum’s Muir Glacier hard fork on January 1st. Data from Ethernodes shows that about 65% of nodes were ready for the upgrade. Although network upgrades generally can bring positive impact to the prices, Muir Glacier was more like a minor tweak of the network, and markets seem not expecting the hard fork to bring an imminent bullish reversal on the price.
News-wise, we’ve seen it was relatively light on that front, but the controversy of Facebook’s Libra never gets tired. Swiss President Ueli Maurer said Libra stablecoin has failed in its current form. In an interview with SRF, Maurer believes the reason behind Libra’s failure is because “the basket of currencies that are deposited in this currency is not accepted by the national [central] banks." Just last week, Libra Association published a second roadmap outlining plans for its mainnet launch, which is expected in 2020.
Figure 3: BTCUSDT Daily Chart (Source: OKEx; Tradingview)
Figure 4: ETHUSDT Daily Chart (Source: OKEx; Tradingview)
Figure 5: ATOMUSDT Daily Chart (Source: OKEx; Tradingview)
Figure 6: BSVUSDT Daily Chart (Source: OKEx; Tradingview)
Figure 7: OKEx BSV Long/Short Ratio