Thursday's Markets Update (Jan 5, 2023))

06 Jan 2023 by rate3

The Unemployment Insurance Report came out with much lower than anticipated jobless claims (204K instead of 230K) today. It sent NASDAQ from 10390 on the opening to 10305 on its close (less than a one percent decline). BTC, instead, rose from 16780 to 16859 (up 0.5 percent) showing an accumulation pattern (it appears that some whales, followed by a spin of shrimps, cautiously step in to grab more of 'cheap Satoshis'). This move looks unsubstantiated fundamentally, but it is expected to see contrarians temporarily having an upper hand on low-volume markets.