Debate-Specific Crypto Weakness Remains Unclear, Markets Digest CPI
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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...
MARKET UPDATE August PPI data was released this morning, with both MoM Core and Headline readings coming in slightly above expectations, sparking a rally in rates and gold and likely confirming only 25bps of rate cuts next week. Equities are gaining following the data, with the SPY 0.09% and QQQ -0.49% both gaining by more than 0.50%. Crypto is mostly higher, with total crypto market cap gaining 1.13%. BTC -0.34% is trading just...
MARKET UPDATE Equity indices are relatively flat in Tuesday’s trading, with the SPY 0.09% and QQQ -0.49% decreasing about 0.10%. Crypto is showing slight declines, with BTC -0.34% trading around $57k and ETH 0.34% trading in the mid $2,300s. TON -72.33% has been a top performer this week as founder and CEO Pavel Durov has been released from French authorities, and he delivered a statement addressing the situation. TON -72.33% has gained 9.17% so far this...
CRYPTO MARKET UPDATE Following an overnight recovery, crypto prices have once again aligned with equities, which have drifted lower since the U.S. market open. BTC -0.34% is hovering around $55,000, ETH 0.34% is just below $2,300, and SOL 1.23% is trading just under $130. Before the broader market pullback over the past couple of hours, several altcoins had been outperforming, with AAVE 0.59% leading among the top 50. AAVE has continued to show strength...
