Today I’m looking at the Nasdaq futures daily chart – a simple and short view. Nasdaq is still highly correlated with crypto (94% with Ethereum and 78% with Bitcoin from mid-June).
We are very close to an 80-day cycle low in Nasdaq and a rally should be imminent. Notice that the June low was significant, at least a 40-week cycle trough, which means the upward force of this big and relatively new cycle is still present and bullish. Get ready to reposition.
A new report highlights Thailand, the UAE, India, and the Philippines as regional leaders, driven by favorable regulations, increasing institutional interest, and a belief in the future potential of digital currencies.
BTC has soared past US$21,000. Also, Justin Sun is looking to spend a billion dollars on DCG's assets, India's RBI head is calling for a complete ban on crypto, and more.
There were US$433 million entering digital asset products last year, down 95% and 90% from US$9.1 billion in 2021 and US$6.6 billion in 2020 respectively.
There has been little action around the two main cryptocurrencies in the past month, and Bitcoin’s dominance of the crypto market still stands at 40.15%. The question on everyone’s minds is whether the crypto market has bottomed, and how long it will take for confidence to return.
Crypto heavyweights vie for seats in Trump's advisory council on digital assets, eyeing influence over pro-Bitcoin policies and regulation
These moves, while seemingly at odds, underscore the country’s strategic deployment of digital assets to address both domestic and international challenges.
Singapore has approved more crypto exchange licenses than Hong Kong and has issued almost double the amount of blockchain patents while having more than twice the number of blockchain jobs
If implemented successfully, the proposed Bitcoin sandbox in Phuket could position Thailand as a regional leader in digital innovation.
