ETH Relative Strength Continues, US-Regulated Margined Crypto Trading Coming to Cboe
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Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
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 0.76% and KWEB 0.64% gaining more than 8%. The SPY 0.70% and QQQ 0.78% have gained 0.22% and 0.67%, respectively. Crypto is mixed, with altcoins outperforming the majors. BTC -0.26% has declined modestly to $63k, and ETH -2.98% is trading just above $2,600. TIA -4.59% has been one of the top gainers...
MARKET UPDATE Yesterday’s FOMC meeting resulted in the Federal Reserve reducing interest rates by 50 bps, and Fed Chair Powell striking an optimistic tone about the state of the U.S. economy. Risk assets are rallying today, with crypto leading the charge. BTC -0.26% has gained to $63.7k and ETH -2.98% is approaching $2,500. Altcoins are seeing outsized rallies, with TIA -4.59% and DYM -6.32% outperforming, with both gaining over 14% today. APT -0.09% has similarly...
CRYPTO MARKET UPDATE GLOBAL MARKETS ARE EXPERIENCING A SELL-OFF AMID THE YEN CARRY TRADE UNWINDING, MIDDLE EAST TENSIONS, AND U.S. RECESSION FEARS. The Japanese Nikkei index fell 12.4%, its worst day since 1987’s Black Monday. U.S. equity futures and crypto followed suit, with the SPY 0.70% and QQQ 0.78% opening down over 4% and Bitcoin and Ethereum falling to lows of about $49k and $2,100. Bitcoin and Ether have since pared losses,...
