Crypto Markets Analysis: Crypto prices have risen sharply since BlackRock’s filing for a spot bitcoin ETF. Of the 149 assets in the CoinDesk Market Indices (CMI), 144 rose during the week. GWilliamsJr_CMT reports
Next week’s macroeconomic calendar is relatively light, with the exception of Friday consumption expenditure data.
The Ether Trend Indicator is now also flashing an uptrend signal, a step above its prior neutral reading. Bitcoin Cash and Onyxcoin , led the way, up 33% and 28% respectively. MINA and XLM were sector laggards, yet still up 8.8% and 9.3% respectively. Historically, BTC has tended to move higher, even when accompanied by large RSI figures. Trading volume peaked on Wednesday, and fell the two days following. The trajectory of momentum will be worth monitoring, for clues as to whether recent buying pressure is waning.
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