Invictus Capital: Weekly Wrap 22.01

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Market News

Crypto markets cooled off this week as Bitcoin found support at the $30,000 level. The selloff was exacerbated by some timely FUD claiming that a “critical flaw” had been discovered. In fact, there was no double-spend and the chain re-organization that took place is a normal part of Bitcoin’s operation. This signified the market’s irrational fear, a stark contrast to the mood just days before, despite unchanged fundamentals. On-chain data suggests that institutions have been the biggest buyers while retail investors panicked, as Grayscale alone added 25,000 BTC, now owning more than 3% of the total supply.

Ethereum broke through its all-time high reaching $1,440 on Tuesday before pulling back alongside Bitcoin. However, the ETH/BTC pair’s relative strength may be one of the strongest indicators of capital rotation from Bitcoin into altcoins, as investors look to catch the next wave of returns across the asset class.

Traditional markets took heart this week from a drama-free US presidential inauguration, evidence that the recent surge in global cases (particularly in the US and UK) had begun to turn, and the US surpassing 1 million vaccinations. This was despite the Biden administration claiming they’d inherited a non-existent pandemic plan. Markets are expecting attainment of herd immunity (via vaccine roll-outs) throughout most of the developed world during the first half of 2021.

Biden’s Treasury Secretary nominee, Janet Yellen, also noted that strong fiscal support for the economy would be necessary and forthcoming, whilst the former central banker distanced herself from any efforts to keep the dollar weak in order to aid the recovery. But this hardly dents the bearish dollar outlook, and we saw the dollar end flat despite a brief stint of strength after the comments.

The combined effects of these developments saw most global stock markets tick upwards along with gold on the back of greater inflation expectations and bullish expectations for the future (though at the time of writing, European stocks have fallen sharply whilst gold has reversed most of these gains).

Indicators (15–22 January)

Q4–20 Report Release

After an absolutely incredible year for Invictus Capital and the crypto sector as a whole (despite having to endure the pandemic), we are incredibly excited to present to you our quarterly report for the 4th quarter of 2020.

Read the full report here.

Invictus January 2021 Promotion

From 15.01.2021, 00:00 UTC until the end of January (31.01.2021, 11:59 UTC), new and existing investors who invest at least $200 USD into any of the investment funds on the platform stand a chance to win $1000 USD. The prize is paid in Invictus fund tokens of the winner’s choice.

Read the full terms and conditions here.

Other News & Links

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