Week Ahead & US SEC Opens Door to Bitcoin ETFs: What Investors Need to Know

 







US SEC Opens Door to Bitcoin ETFs: What Investors Need to Know
This week marked a significant milestone as the US SEC granted approval for the groundbreaking listing of spot Bitcoin ETFs, opening doors for investors to conveniently engage with cryptocurrency and potentially introducing a new asset class into their portfolios. Despite a -2.51% dip in BTC for the week, likely influenced by profit-taking, ETH surged by +14.60%, with enthusiasts confidently declaring, 'We are next!'

Our proprietary correlation model depicts BTC as a hybrid risk-on instrument, combining characteristics of both equities and commodities:

Equities (SPY): 0.82
Gold: 0.49
Oil: 0.42
Dollar (DXY): -0.13
Bond (TLT): -0.23

While long-term bullish momentum endures for US markets (SPY), we approach the short term with caution. The upcoming earnings season has heightened investor expectations, and markets are nearing technical resistance levels.

In the Singapore market, consolidation persists, while China's markets remain in a downward trend. We are actively seeking selective swing trades during price corrections, navigating these market conditions with more caution.

Headlines for Week Ahead:
- US Corp Earnings (US banks)
- US Dec Retail Sales
- China 4Q23 GDP
- SG Dec NODX


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