Shiba Inu

$SHIB

$0.0...580

-1.19%

Bitcoin surged higher yesterday evening during Asian market hours, climbing from $54.8k to reach $57k. This increase followed a day of impressive inflows into spot $BTC ETFs. $ETH has taken a backseat for the time being, currently trading slightly above $3.2k. $STX is performing well, up over 6%, but other recent market leaders are lagging. It appears that flows have shifted towards more speculative corners of the market, with memecoins...

Traditional equity indices are continuing this week's decline, with the $SPY and $QQQ both down over 0.40%. The minutes from the last FOMC meeting are to be released at 2:00 PM EST today, which should shed some light on what the Fed thinks about inflation and the likelihood of another rate hike in September. The market is currently pricing the probability of a September hike at 11.5%. $BTC (-0.43%) and...

Bitcoin continues to hover above $30k, gaining 2% over the last day. $ETH has bucked its trend of underperforming $BTC, with $ETHBTC up 0.72% today, although its medium-term downtrend remains intact. The crypto market turned higher after news broke that Fidelity had potentially joined other large asset management companies in filing for a spot $BTC ETF. While Fidelity previously filed for a similar ETF in 2021, the SEC rejected that...

BRC-20 FEVER Ordinal transactions on Bitcoin have skyrocketed in the last few months, leading to an all-time high for daily transactions and pushing Bitcoin network fees to 2-year highs. The activity throttled BTC’s network so much that Binance was forced to temporarily shut down withdrawals and implement Lightening Network to service outflows without paying excessive fees. There are currently two types of Ordinal transactions on the network: 1) Ordinal NFTs...

Traditional equity indices are under pressure today following yesterday’s 25bps interest rate hike and additional regional bank weakness. The $SPY (-0.72%) and $QQQ (-0.31%) are approaching last week’s lows, while the $DXY (+0.33%) is rising after Fed Chair Powell reiterated his stance that the inflation fight is far from over. $BTC and $ETH are in line with equities today, falling 0.66% and 0.87%, respectively. Meme coin $PEPE has skeptics shaking...

WHAT IS A MEME? A meme is defined by Webster’s New World College Dictionary as “a concept, belief, or practice conceived as a unit of cultural information that may be passed on from person to person, subject to influences in a way analogous to natural selection.” Memes have always existed but have grown rapidly in popularity due to the internet and social media. Sites such as Twitter and TikTok are...

Crypto had a volatile morning, with prices dropping sharply after the DOJ announced they were making a statement regarding crypto. Fears were relieved when the announcement was the DOJ taking enforcement action against Russian exchange Bitzlato and didn't have to do with any material regulation in the U.S. Prices began to recover, with $BTC currently down 1.27% and $ETH down 1.63%. December PPI was released today and came in softer...

COINS DO NOT CARE ABOUT EPS As we have addressed over the past month, cryptoassets were nonreactive to the onslaught of gruesome tech earnings this week. At the time of writing, bitcoin, ether, and the rest of the crypto ecosystem have vastly outpaced the Nasdaq. As we can see below, a major contributing factor to crypto doing so well is yields rolling over for the first time since early October....