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!

There was/is a lot of discussions in various Telegram groups and forums about the tweet from Brian Armstrong, CEO of Coinbase:

https://twitter.com/brian_armstrong/status/1331744884856741888?s=20

It is not really "new" news. US Treasury Secretary Mnuchin talked about this topic weeks ago. But maybe with Brian's tweet, a broader base of retail traders was reached. They are usually more leveraged, and it caused them to panic.

Anyways, as expected (and also mentioned before Thanksgiving and the upcoming weekend), the market makers who are still providing liquidity are charging you with wider spreads.

The OKEx saga is also over with their withdrawl functionality reopening yesterday. There are "only" 5,000 Bitcoins (BTC) left in their exchange, which is just over 2% of their total holdings. Hence, I think it was a non-event in terms of the price of BTC$.

Happy weekend trading!

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