📉 BTC | $42,521 (-4,644, -9.9%)
📉 ETH | $2,930 (390, -11.7%)
📉 XRP | $90 (-0.14, -13.7%)
📉 LTC | $155 (-18, -10.6%)
📉 Total Crypto Market Cap: $1.88T (-10.5%)
🎢 Crypto sentiment has fallen off the proverbial cliff together with equities worldwide, as fears over Evergrande’s current woes weigh on the market. Bitcoin has shown remarkably strong correlation with movements in the S&P500 this year, and the latest selloff comes as the S&P500 has just broken convincingly below the 50-Day SMA that has acted as a bull market support since February.
🤔 Crypto investment funds have continued to see inflows – with the past week surprisingly seeing Solana (Ethereum competitor) break into the top three assets by inflows. Sentiment however remains largely negative, with Bitcoin having seen more outflows than inflows over the last four months.
🔎 An intriguing analysis run by Bloomberg on OpenSea’s dataset shows that sales volumes continue to drop, with around three-quarters of NFTs bought in the last 90 days failing to see another transaction. Only around 8% of NFTs see at least 3 sales within the same period of time.
Cryptocurrency CFD is available for trading on Phillip MetaTrader 5 (MT5).
Features of trading CFD
- Trade in both the bull and the bear markets
The ability to enter a long and/or short position allows traders to take advantage of both rising and falling markets.
- Smaller barrier to entry
CFDs typically have flexible and smaller contract sizes. This means that traders will be able to enter into a CFD contract with a modest amount of capital.
- No expiration date or risk of delivery
Unlike futures which commonly have a fixed expiration date, CFDs allow traders to perpetually hold the position(s). CFDs are cash settled, no need to worry about the delivery of the underlying asset.
Trade Bitcoin, Ethereum, Litecoin, and Ripple CFDs at zero commission on Phillip MetaTrader 5, a dynamic platform that offers low spreads. Integrated with Autochartist and Trading Central Indicators, and available on mobile, web and desktop app, you will never miss a trading opportunity with Phillip MT5.
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What’s more? Phillip MT5 is now supported on Mac OS! To install, simply download the file below and complete a simple installation process.