SOL Leading Majors on Bounce, ETF Flows Mixed but Coinbase Premium Persists
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AI Miners Continue Outperformance, CB Premium Remains Muted Despite Flows Increasing
CRYPTO MARKET UPDATE The crypto market has been consolidating over the past 12 hours following Bitcoin’s first daily close above its 200-day moving average since last August. BTC 3.46% is hovering just below $64K, while ETH 8.72% is holding above $2,600, and SOL 11.47% remains strong above $150. SEI 6.90% , one of the high-performance L1s that rallied significantly in Q1, is leading the market today, following a similar path to SUI 1.93% . Other notable outperformers...
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 3.46% briefly pushed above $64K during Sunday's session, attempting to break through its 200-day moving average. Meanwhile, ETH 8.72% has quietly rallied 10% against BTC 3.46% over the past five days, now trading above $2,660, while SOL 11.47% has retreated to $144 after reaching $152 on Friday....
CRYPTO MARKET UPDATE In stark contrast to the recent BLS job number revisions, the government revised its Q2 GDP estimate higher this morning to 3%, leading to a jump in rates and the DXY. However, this data also apparently boosted confidence in the soft landing trade, as rate-sensitive indices like IWM are outpacing ^SPX 0.44% and QQQ 0.22% . Chip-adjacent stocks are also performing well, spurred by another earnings beat from NVDA 0.28% , benefiting...
CRYPTO MARKET UPDATE This morning's big news came from the BLS, which revised payrolls down by 818k for the 12 months ending in March. In response, the DXY turned negative as yields fell and market confidence in upcoming Fed cuts grew. Price action continues to suggest that the market views a soft landing as possible, with risk assets rallying in tandem with Treasuries. BTC 3.46% spiked to $60k following the U.S....
