Newsletter #1

Welcome to the very first "Morning Update" newsletter!

Good Morning Traders!

Welcome to our newsletter where we bring you the latest updates on the financial markets. Today, we'll be taking a look at some of the biggest movers in the market, including cryptocurrencies, equities, and the U.S. dollar. So, let's dive in!

Bitcoin:

Bitcoin is currently trading at $22,362, the recent “Silvergate” news has caused a sizable dip in $BTC price dumping around 5% yesterday. Bitcoin has been on a rollercoaster ride lately, experiencing range bound price action. Despite this, it remains one of the most popular and widely adopted cryptocurrencies in the world.

Ethereum:

Ethereum, another popular cryptocurrency, is currently trading at $1,569, with a daily percentage change of 5% since yesterday. Ethereum has gained significant attention in recent years due to its smart contract capabilities, which have allowed for the creation of decentralized applications and protocols. $ETH remains one of the most bullish crypto currencies in the space and will continue to see interest in the macro. 

Solana:

Solana is a relatively new entrant into the cryptocurrency space, but it has already made a name for itself as one of the fastest-growing cryptocurrencies. It is currently trading at $21.14, with a daily percentage change of about 5%, and even dipped as low as 8% yesterday. Solana's popularity is due to its fast transaction speeds and low fees, making it an attractive alternative to other cryptocurrencies. The vibrant young community has a lot of work to do after the FTX collapse, but paying attention to $sol at these low prices is a very good idea for traders in the long term. 

Equities:

Moving onto equities, the S&P is currently trading at $4,045, with a daily percentage change of 1.58%. The S&P is a stock market index that tracks the performance of 500 large-cap companies listed on U.S. stock exchanges. Recently visiting macro support, It has bounced off of the descending trend line giving bulls some hope for continued recovery. 

The U.S. Dollar Index:

The U.S. Dollar Index is currently trading at $104.52. The previous close for the U.S. Dollar Index was $104.96. The U.S. dollar is one of the most widely used currencies in the world and is often used as a benchmark for the performance of other currencies. Watching $DXY will give you an inverse indicator to risk on markets like Crypto and Stocks. The dollar has been pumping recently giving bulls a hard time in the market, currently parked at macro resistance we are seeing signs of $DXY becoming tired. Some downside for the dollar would provide relief for risk on markets moving forward. 

Silvergate:

Silvergate Capital Corporation is a publicly-traded bank holding company that specializes in providing banking services to cryptocurrency-related businesses. The company operates as a commercial bank that offers deposit products and services, such as cryptocurrency-collateralized loans, wire transfers, and digital currency transfers.

In recent years, Silvergate has become a significant player in the crypto industry, providing banking services to many prominent cryptocurrency exchanges and other blockchain-related companies. The company's success in this niche market has led to significant growth in its business and stock price.

However, in early 2021, Silvergate's stock price experienced a sharp decline after the company reported that some of its customers had been negatively impacted by the high volatility of cryptocurrencies. This news caused investors to worry about the potential risks associated with Silvergate's business model, as the company is heavily reliant on the success of the crypto industry.

In the last few days Silvergate has come out publicly selling its Crypto holdings at a loss, giving traders uncertainty to the company’s future in the space. Being that Silvergate is a massive player in the industry this is definitely a factor in the recent crypto dump. 

Summary:

To summarize, we've covered some of the most significant movers in the market today, including cryptocurrencies like Bitcoin, Ethereum, and Solana, equities like the S&P, the U.S. Dollar Index, and Silvergate. We hope you found this newsletter informative and helpful in staying up-to-date on the financial markets. Have a great day and safe trades!