NDQ
$NDQ
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Cryptoassets and equities swapped roles today as the crypto market received a significant boost during Asian trading hours (more on this below). $BTC reclaimed its position above $27k, while $ETH made a strong push toward $1850. Among alts, the performance has been mixed. ETH scaling solutions $ARB, $OP, and $IMX all experienced gains of over 2% during the day. Meanwhile, the native token of the decentralized GPU rendering platform, $RNDR,...
Bitcoin ($BTC) and the broader crypto market are staging a recovery after a week of bearish price action, with altcoins facing particularly excessive pressure. Bitcoin has successfully bounced off its key 200-week moving average around $25,800 and is now hovering around $27,400. Ethereum ($ETH), meanwhile, remains stable above the $1,820 level. Notable standout performers include altcoin $LDO, up 12% on the day, potentially driven by improved withdrawal capabilities and short...
The $NDQ has slid 0.3% on Monday as investors anticipate corporate earnings reports from major tech companies, while the $SPX is effectively flat. Investors are closely watching for earnings results from mega-cap tech firms, including Alphabet, Microsoft, Amazon, and Meta, marking the halfway point of the earnings season. Both $BTC and $ETH are moving lower in concert with major equity indices, and most altcoins, including $MATIC and $SOL, are following...
Investors are bracing for a week of critical economic data, including CPI and PPI data for March, which will be released on Wednesday and Thursday, respectively. Investor concerns about the possibility of another rate hike rose following Friday's robust employment data. Nonfarm payrolls saw an increase of 236,000, close to the Dow Jones estimate of 238,000, while the unemployment rate dropped to 3.5%. In addition to economic data, major banks,...
Hong-Kong Continues Crypto Hub Agenda, OKX to Return $157 Million to FTX Bankruptcy Estate
Traditional markets are rallying today amid easing bank concerns and speculation that the Fed may be done raising interest rates. The $SPX has risen 0.25%, while the $NDQ is up 0.52% at the time of writing. The Fedâs preferred inflation metric, the PCE index, will be released tomorrow morning and should fuel further speculation on whether or not any further rate hikes remain in 2023. Crypto markets are trailing equities,...
Equities opened higher this Monday morning on the back of easing bond yields. The $SPX and $NDQ are trading 0.6% and 1.0% higher, respectively. However, the U.S. 02Y has turned higher since this morning, now pushing back towards 4.9%. The $DXY has moved lower, assisted by increased hawkish rhetoric from the ECB. The crypto market rallied slightly in concert with equities but is stalling in the face of rate strength....
Equities are rising this Monday afternoon following their worst week of the year. The $SPX and $NDQ are trading 0.4% and 0.7% higher, respectively. Interestingly, the US 2Y yield pushed higher in the early morning hours to reach its highest level in over 15 years but has since retreated to below 4.8%. The crypto market rallied following the local peak in rates this morning but has since retraced some of those...