Market Update
973 Results
Bitcoin's value has increased by 6% in the past day, surpassing $47k. This surge is attributed to various factors, including ETF flows, short liquidations, and the typically positive sentiment around the performance of BTC during the Chinese New Year. Additional factors contributing to Bitcoin's rally include a decrease in sales by miners and potential positive influence from stock markets surging to all-time highs. CryptoQuant, an on-chain analytics firm, noted a...
Bitcoin surged to a four-week peak, trading at ~$45,400 in tandem with the U.S. stock indexes reaching all-time highs. After dipping to a low of $42,700 on Wednesday, Bitcoin's value increased by nearly 5%, marking its highest point since January 11. ETH is also moving higher, topping $2.4k with a 3% increase. Ethereum's two-week peak follows an amendment of the joint spot ETH ETF application by asset managers Ark Invest and 21Shares....
Equity indices continue to march higher, with the QQQ registering a near 1% gain on the day and the SPX following closely behind, up approximately 75 bps. It's a broad rally with all sectors in the green for the day, but technology is outperforming, up over 1%. Rates started the day lower, but the longer end of the curve is now marching higher, likely due to a major 10-year auction...
Crypto markets are rising today, with BTC (+1.45%) trading above $43k and ETH (+2.33%) surpassing $2,350. Dymension, a new layer-1 network focused on providing rollups-as-a-service, processed its first block, marking its mainnet launch. The first phase of the protocol is focused on enhancing economic security, after which the focus will shift to launching RollApps, a way for developers to deploy consensus-free blockchains easily. DYM, Dymensionâs native token, has gained 15.3% in early...
The SPY (-0.44%) and QQQ (-0.40%) are moving lower to start the week following ISM Services data coming in at 53.4 vs. 52.0 expected, marking the highest level since October. The prices paid component surged to 64.0 vs 56.4 expected, causing rates and the DXY (+0.52%) to move higher. BTC and ETH pared early morning gains and are roughly flat on the day, trading at $42.5k and $2.3k respectively. Chainlink (LINK -0.72% )...
BTC remained above $43k in morning trading, holding a 0.5% increase over the last day. LINK -0.72% surged to a 22-month peak, surpassing $18 and recording a nearly 30% gain over the week, outperforming most large-cap cryptos. This surge is indicative of a bullish departure from its previous three-month trading range of $13 to $17, continuing its recovery from lows near $5 in June 2023. AI-related crypto tokens surged following Meta's...
Crypto markets are mixed as BTC climbs 0.4% higher to reach $43.6k, while the aggregate crypto market cap is lower. ETH is underperforming, falling 1.3% to $2.3k. As we close the month, the top performers among the top 100 over the last 30 days have been new L1 SUI (+95%), AI-focused network TAO (+68.6%), and gaming token RON (+21.4%). In the same period, BTC has gained ~3% from its yearly...
U.S. equities are showing moderate declines after JOLTS surprised to the upside with 9.03 million job openings vs. 8.75 million expected. The SPY and QQQ have declined by 0.14% and 0.63%, respectively. All eyes will be on tomorrowâs FOMC meeting and QRA announcement, which should give near-term direction to rates and the DXY. Crypto markets are showing strength, with BTC rising 0.36% to $43.5k and ETH gaining 2.46% to exceed...
This week is shaping up to be a significant one on the macro front, with the JOLTS report on Tuesday, the FOMC meeting and Treasury Quarterly Refunding Announcement (QRA) on Wednesday, PMIs on Thursday, and jobs data on Friday. Despite a downward trend in rates today, possibly hinting at the Fed's tone this week, DXY is climbing, largely due to a weakening Euro. In the equities market, major indices are...
Telefonica to add Helium Mobile Hotspots in Mexico, Polygon to Launch Aggregation Layer
U.S. equities continue to trade upwards as the economy remains robust while inflation trends lower. Q4 GDP came in at 3.3% vs. 2.0% expected, while weekly jobless claims rose to 214k vs. 200k expected. The SPY and QQQ are both trading approximately 0.2% higher on the day, slightly below all-time highs made yesterday. Crypto markets continue to slide, with BTC (-0.43%) trading near $39.9k and ETH (-0.73%) trading around $2,200...
