Risk Rallies on Half-Point Rate Cut, Solana Mobile Unveils Second Phone
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MARKET UPDATE The PBoC has announced a fresh package of economic stimulus, weighing a $142 billion injection into top domestic banks and pledging to stabilize the housing and stock markets. Domestically, durable goods data came in better than expected, and GDP met expectations, providing more confidence in the stability of the U.S. economy. Crypto is responding positively to both developments, as BTC 2.98% has gained to $65.3k and ETH 1.18% to $2,650,...
MARKET UPDATE Equities are gaining following the People’s Bank of China announcing the largest stimulus package since the pandemic. China-related names are surging, with FXI 7.68% and KWEB 11.27% gaining more than 8%. The SPY 0.41% and QQQ 0.79% have gained 0.22% and 0.67%, respectively. Crypto is mixed, with altcoins outperforming the majors. BTC 2.98% has declined modestly to $63k, and ETH 1.18% is trading just above $2,600. TIA 2.06% has been one of the top gainers...
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 2.98% briefly pushed above $64K during Sunday's session, attempting to break through its 200-day moving average. Meanwhile, ETH 1.18% has quietly rallied 10% against BTC 2.98% over the past five days, now trading above $2,660, while SOL 3.86% 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 2.98% has risen from $58k to $61k and ETH 1.18% has risen from the high $2,200s to $2,370. SUI -3.66% is outperforming today following news that...
