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Week-46-2022 Macro Review

US Equity and Digital Assets markets ended the week 46 a bit weaker, with NASDAQ closing lower by (NASDAQ⬇️1.6%) at $11.146 and S&P 500 lower by (S&P500⬇️0.7%) at $3.965. Likewise, the two top digital assets, Ethereum closed lower by (ETH⬇️6.6%) at $1.142, while Bitcoin ended the week lower by (BTC⬇️0.4%), closing at $16.291. The crypto markets continue to decline in prices as a consequence of the FTX fallout that came alight on the 11th November 2022, when its co-founder & CEO filed for bankruptcy protection. Previous week’s slump in crypto prices reflect the cascade of failures at other digital asset providers tied to the centralized crypto exchange FTX’s collapse.

The crypto market remains exposed to high downside risks, as the community now pays more attention to other providers like, Genesis Trading and Grayscale Bitcoin Trust (GBTC), among those the most affected. In fact, another full-blown panic over solvency issues at these or other big crypto providers will surely send the crypto markets further down in price.

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