Market Update - July 18, 2023

The long and short of it

Author

Mark Helfman
July 18, 2023

Bitcoin’s price is back below $30,000 and its market dominance fell this week. Tether trades at a 25% discount to US dollars on BinanceUS. China’s economy still can’t catch a break. One group of traders tells you to sell, another tells you to buy as much as you can.

Confusing, isn’t it?

Today’s update follows up on my update from last week and covers these topics:

  • Expectations

  • USDT “depeg” on BinanceUS

  • “Retail” buying Bitcoin funds, not necessarily Bitcoin

  • A big break for altcoins

  • Conflicting analysis—long-term and short-term

I strongly advise you read the TL;DW below and watch the update! You miss a lot of good info when you only read the summary.

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