Bitfarms Approves Potential Issuance to Deter Riot’s Takeover, Fidelity International Tokenizes MMF with Onyx Digital Assets
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CRYPTO MARKET UPDATE Crypto began the final full week of September trading—historically the worst time of the year for the asset class—with a positive move higher. BTC -0.85% briefly pushed above $64K during Sunday's session, attempting to break through its 200-day moving average. Meanwhile, ETH 1.82% has quietly rallied 10% against BTC -0.85% over the past five days, now trading above $2,660, while SOL -0.02% has retreated to $144 after reaching $152 on Friday....
MARKET UPDATE Crypto has gained sharply ahead of tomorrow’s FOMC meeting, at which the Fed is expected to begin its easing cycle. There is still uncertainty on the magnitude of the first rate cut, with markets pricing a 61% probability of 50bps as of this morning. BTC -0.85% has risen from $58k to $61k and ETH 1.82% has risen from the high $2,200s to $2,370. SUI -1.88% is outperforming today following news that...
CRYPTO MARKET UPDATE The most notable market development over the past 24 hours has been the sharp increase in rate cut probabilities for next week’s FOMC meeting. After falling to just a 14% likelihood of a 50bps cut, the odds jumped to over 40% in after-hours trading following a large trade betting on two cuts. This shift may be linked to the optimism around the potential for two cuts conveyed...
CRYPTO MARKET UPDATE CPI came in slightly above market expectations, primarily driven by persistent shelter costs, though these were partially offset by deflationary energy prices. As a result, rate cut expectations for next week’s FOMC meeting have dropped to 25 basis points. Following the CPI release, crypto markets, along with other risk assets, initially sold off as the market digested the data. However, prices have since rebounded, with BTC -0.85% trading...
