Spreadex Market Update

Bitcoin crashes to lowest point since January



Bitcoin has dropped below $30,000 for the first time since January, losing all its gains since the start of 2021.

This horrific month for crypto continues as China cracks down further on crypto miners. Long term investors will question cryptos potential if mining restrictions continue.

It has been a decent day for the FTSE, up 0.23% off the back of record growth in UK factory output. With the Bank of England’s meeting minutes to come out later this week too, there is a chance that this strong performance could get even better.

It has been a bleak day for the rest of Europe however, with the CAC and DAX both down 0.07%, they will be hoping to match the FTSE’s performance in the latter stages of the week.

The US had a mixed open, with the S&P holding steady (+0.13%), but the Dow in contrast with a disappointing -35-point performance.

One to watch for the week, Copper! Up a whopping 1.42% on the day and looking to recover from what has been, to say the least, an abysmal month. With Copper currently trading at 4.2435, investors would love to see it break through the 4.3 mark.

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