Monday's and Tuesday's Market Update (Dec 26, 27, 2022)

27 Dec 2022 by rate3

Monday, Dec 26 was the no-trading day in NY. So, BTC, left without guidance, was doing its usual ups-and-downs within 16600 - 16900 range.

Tuesday's Case Shiller Index dropping 0.8 percent, while 1.2 was expected (together with Wholesale Inventories increased by 1.0 percent to USD 933.6B - 0.3 was projected), shilled down traders on the NY markets' morning session. It led NASDAQ from 10462 on the opening to the day's lowest mark of 10340 (-1.16 percent). The index closed on almost the same levels (10353) ignoring unconvincing attempts on the recovery organized by optimists during the later part of the trading session. BTC performed accordingly, (and simultaneously) dipping from 16771 to 16592 (-1.06 percent). However, after the stock market closed for the day, crypto-traders used the reactionary bullish momentum to bring prices a little higher (to 16703, or +0.6 percent). Overall, on the week's opening, NASDAQ continues the downward movement, edging closer to its two-months low of 10262 while BTC keeps probing the strong resistance level set by whales at 16600.