The market remains quiet and “thin” during this holiday week. This should be even more evident today…UNLESS the employment report is a lot different than Wall Street expectations. Otherwise, today should be a yawner in the marketplace.
HOWEVER, we do want to point out that bitcoin stands at a critical juncture. For the second time this summer, it has failed to see any upside follow-through on some very bullish news on the ETF front. If it breaks below a key support level, it’s going to be very bearish for bitcoin and the crypto asset class on an intermediate-term basis.
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