Daily market commentary from 12.10.2020

By Patrick Heusser on 12. October 2020 Updated 13. October 2020 Market Review

An overview of what is happening in the crypto markets, summarised daily by Crypto Finance AG Senior Trader Patrick Heusser in the market commentary.

Market commentary

Good Morning!

Here's a little something about BTC$.

It looks like we have some selling pressure coming from Asia (Binance Spot is roughly 1,000 BTC on the offer up to 11.5k).

They have also been on the offer at around 11k (with roughly 2,000 BTC), but most of them pulled the offer when we traded through...

However, I do not see any buying pressure when looking at the bid side of the main exchanges' order books. My best guess is that people are simply getting into positions with "market buy" orders.

About the author

Patrick Heusser

Patrick Heusser is Head of Trading at Crypto Broker AG. Prior to joining the company, Patrick worked as an Interest Rate Trader at UBS and held various positions in the IRCC (interest rate, commodity and foreign exchange trading) in London, New York, Singapore and Zurich. Patrick is an expert in trading and risk management. He also gained experience in other areas, such as building start-up companies. Patrick has a degree in banking from a business school. He has also taken various courses in technical chart analysis.