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AMT Top Ten Miscellaneous Insights for the 9th of February

by with No Comment AMT MarketsBehavioral SentimentFeatured Highlights

AMT Top Ten Miscellaneous Insights for the 9th of February

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10. Super Bowl AMT Prediction: Kansas City Chiefs 27 – San Francisco 49ers 24. After winning the MVP Travis Kelce will hug Taylor Swift and announce his retirement.

9. Jazz Fusion: Please listen to the song School Days played by Stanley Clarke while delivering a supreme bass guitar riff.

8. Tech: Google has announced its Bard A.I will now be known as Gemini in a rebranding. ‘Bard’ was a rather poor name, but is Gemini much better? Let’s ask Gemini what it thinks about the Google marketing team.

7. Banking Animal Kingdom: Central Banks parroting the same rhetoric globally as they choose to be ‘prey’ instead of ‘predators’, driving financial institutions and traders batty in Forex.

6. Crypto: The NBA is being sued by investors in a Class Action Complaint in conjunction with 4.2 billion USD in losses, because of alleged fraudulent actions by Voyager Digital Holdings, claiming the NBA bears responsibility for negligent marketing via the Dallas Mavericks. https://storage.courtlistener.com/recap/gov.uscourts.flsd.661881/gov.uscourts.flsd.661881.1.0.pdf

5. Deutsche Pfandbriefbank AG: A large slump in bond values for the German bank has sparked additional fears of exposure for banks involved with the commercial real estate sector. CRE appraisals remain unrealistically high in many European and North American cities as lending risks climb.

4. Cocoa: The price for the commodity was 4055.00 USD per metric ton on the 8th of January, as of yesterday it was 5666.00, a rise in cost of 39.72% in a month. Our sweet tooth just got more expensive.

3. Data: Yesterday’s Weekly Unemployment Claims showed negative revisions upwards from the previous two weeks; another ‘hidden’ piece of data not being fully considered by traders, perhaps like the Non Farm Employment Change data last week reporting declining workweek hours.
https://www.angrymetatraders.com/post/usd-hidden-jobs-data-shows-potentially-intriguing-weakness

2. China Economy: Deflation continues to be reported via the CPI and PPI statistics. Also, value of properties for housing and commercial real estate face significant headwinds. The real estate sector including ancillary infrastructure is at least 21% of China’s total GDP.

1. Risk Appetite: U.S equity indices finished Thursday’s trading achieving apex highs. The S&P 500 is challenging the 5000.00 level. Gold is near 2033.00 USD and WTI Crude Oil is above 76.00 USD as of this writing.

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Tether’s Wobbling Should Set off Alarms for Crypto Traders

by with No Comment AMT MarketsBehavioral SentimentFeatured Highlights

Tether's Wobbling Should Set off Alarms for Crypto Traders

Tether is wobbling and this should not come as a surprise to cryptocurrency traders. While many speculators likely do not carry USDT in wallets or day trade the cryptocurrency, it does serve as a barometer in the digital asset world regarding behavioral sentiment. A sustained drop below the 1.00000 USD price tag should raise eyebrows and increase nervousness.

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Tether (USDT/USD) 5 Day Price Chart as of 15th June 2022

This morning’s drop in value in USDT/USD comes on the heels of trouble with Binanace and Coinbase via civil suits brought forth by U.S government agencies that accuse both exchanges of wrongdoing.

Tether’s accounting practices have been under suspicion for a long time and transparency has been lacking. While influencers within the crypto world can came claim all they want the Tether ‘stablecoin’ has nothing to hide – just like Binance and Coinbase – plenty of suspicion remains. And in fact a lawsuit brought against Tether’s parent company which was settled with a payment of nearly 41 million USD in 2021 to the U.S government via CFTC charges should serve as a caution sign.

A simple look at a five day chart of USDT/USD above shows the ‘stablecoin’ has incrementally suffered selling the past handful of days (this before today’s storm lower). Yes, folks may claim this has happened before and recoveries invariably have always developed higher, and they may be proven correct again. Perhaps today’s selling has been a mere reaction to the ‘public’ finding out about recent Binance transactions which are being reported, but maybe it is something more important – like a lose of confidence.

Until now the cryptocurrency world hasn’t really seen a strong reaction to the allegations brought forth from the U.S against Binance and Coinbase yet, and the question that should be asked is when is confidence going to crack again in the cryptocurrency world. Because as sure as the sun comes up and sets, the cryptocurrency world is going to suffer another major crisis, perhaps not today, but one will occur.

If the price of Tether starts to stumble badly and shows signs of not recovering that would spark a major downturn in the value of cryptocurrencies across the board. The darling of the ‘stablecoin’ world certainly has its detractors and there are certainly folks lurking who have been making long-term bets against Tether.

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Binance Coin (BNB/USD) One Month Chart as of 15th June 2023

Speculators in the digital asset world will be watching Bitcoin and Tether values closely. It has been reported that by many crypto media sources that Binance has recently made large trades involving USDT in an effort to boost their liquidity. What should concern traders in the cryptocurrency space is the ability of noise in the sector to turn into actual thunder which causes dramatic reactions to cryptocurrency prices.

Because while some people try to claim there are reasonable ways to value cryptocurrencies, in fact behavioral sentiment rules the jungle and a loss of confidence in the sector remains an extinction level threat for nearly every digital asset at anytime. The entire cryptocurrency space is vulnerable to fragility.