Global Market Snapshot 12th March 2024

All eyes on crypto as the legalisation of the crypto ETFs opens the floodgates for old money to flow into coins like Bitcoin (BTC) and Ethereum (ETH).

The crypto market has been the wild west of financial markets but regulators are beginning to step in and legitimise the assets, meaning money will eventually flow into these digital currencies. 

While bitcoin powers up, altcoin holders looking to have diamond hands buy and wait while the legitimate market absorbs the new and accepted assets. Altcoins have two power ups waiting for them, being listed on an exchange and then being listed and accepted as an asset in the regulated world just like bitcoin and its ETF at the moment. 

Indices slow their rally, with the DAX (DE30) slowing growth over the past week just prior to reaching 18,000. 

Gold sets new all time high, approaching 2200, which begs the question of global money flow as we tie it all together. 

With Bitcoin and gold hitting an all time high and indices easing their growth, does this indicate that big money is filling their coffers into Bitcoin, the new form of safe haven, also coined digital gold and selling off stocks at all time high prices to maximise gains and safety in one hit.