BitDigest May 25 · Issue #909

May 25, 2021

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Equities and crypto are finally seeing some relief, with the Nasdaq and S&P bouncing ~1% while BTC 0.48%  has gained 3.4% to trade at $27.1k. Investors continue to look for signs of a soft landing, with a fresh release of 2Q GDP matching consensus estimates of 2.1% annualized growth. Meanwhile, pending home sales fell 7.1% in August, massively overshooting 1% estimates from Bloomberg. The slowdown was widespread, with every region in...

U.S. equities are sliding for the fifth day out of the last six trading sessions. The SPY and QQQ are both down about half a percent after paring early session gains. BTC 0.48%  (+0.07%) is roughly flat despite the SEC delaying Ark Invest and Global X’s spot Bitcoin ETF applications well in advance of their deadlines. The decision to delay the applications early has likely lowered the chances of seeing an approval...