LSDs Continue to Shine, GBTC Discount Compresses

Jan 9, 2023
body{ background-color:'#041529';} body,table,td,p{ font-size:22px; } body div center ul, body div center li { margin-left: 10px !important; margin-right: 0 !important; } a { color:'#3E84CE'; } .font_small, .font_small td, .font_small p{font-size:16px;} .font_big, .font_big td, .font_big p{font-size:26px;} @media screen and (max-width: 640px){ body,table,td,p{ font-size:28px; } .font_mobile, .font_mobile li, .font_mobile div, .font_mobile p {font-size:30px;} .font_small, .font_small td, .font_small p{font-size:24px;} .font_big, .font_big td, .font_big p{font-size:28px;} } Most Important Daily Data and News for Digital Assets Crypto Daily ReportJanuary 9, 2023 THIS MESSAGE IS SENT SOLELY TO MEMBERS OF FS INSIGHT Tickers on this report: BTC, DXY, ETH, GBTC, LDO, NDQ, RPL, SOL, SPX, SWISE Market UpdateSean Farrell Head of Digital Asset StrategyMarkets are picking up where they left off on Friday, rallying on the back of a weak ISM services report, intimating that investors might be starting to price in impending dovishness from the Fed. This was the first ISM report in 30 months to show an economic contraction within the services sector of the economy and negated market participants' wariness following the stronger-than-expected jobs report that morning. The $NDQ (+2.1%) and $SPX

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We are finally starting to see some relief in interest rates and the DXY 0.00% following yesterday's FOMC meeting and the Treasury's quarterly refunding announcement. BTC 2.24% has rebounded from yesterday's low of $56.5k and is now trading just above $59k, while ETH 1.24% is attempting to break through $3k resistance. SOL 2.23% has outperformed, gaining 10% compared to BTC yesterday and is now trading just below $140. The market is showing decent breadth...

We are witnessing a continuation of the recent weakness in crypto markets today, with BTC 2.24% now testing $60k, ETH 1.24% just below $3k, and SOL 2.23% dipping under $130. The broader altcoin market is experiencing even more pronounced declines, with very few names posting a green candle today. The market was pushed lower in the overnight hours following a disappointing debut from the Hong Kong ETFs (more on that below). However, this...

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