Around The Traps – Market Update Oct 2022
The following came from Chip and the Chatterbot crypto investment newsletter team this week. It is used with permission.
|Crypto Update – Around The Traps!|
|We There is huge volatility in the crypto markets, and the normies are still watching and trusting fake news. Good luck with that. |
Big swings have become commonplace for U.S. stocks which are still in sync with the bitcoin and all crypto markets.
Even with some runs higher, all three indexes remain in a bear market, entered into after a drop of 20% or more from a recent high.
When you’re in the throes of a bear market, to see meaningful moves higher for assets, you need to also see a big move in the bond markets. You need yields to meaningfully fall.
Our team have not seen that happen yet. Which is quite alarming for us.
Instead, the yields on U.S. government bonds have been climbing higher, with the yield on the 10-year Treasury note settling above 4% for the first time since 2008 on Friday. On Tuesday, the yield on the 10-year Treasury note edged lower to 3.996% from 4.012%.
Bond yields and prices move in opposite directions.
The Big crypto influencers on twitter and youtube continually get this wrong; and they don’t realize more evidence of the volatility that has characterized the market’s erratic move lower this year and likely NOT the start of a turnaround or the end of the the crypto winter.
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