Market Update
974 Results
Crypto markets had a volatile morning, initially rallying off a cooler-than-expected CPI print of 0.2% (est. 0.295%) and Core CPI of 0.2% (est: 0.3%). According to data from the Bureau of Labor Statistics, this is the slowest rate in more than two years. Shortly after the CPI release, an on-chain wallet of the US Government containing bitcoin from the Silk Road Hack was seen transferring 9,000 Bitcoin, potentially to sell it....
BTC is once again testing the $31k mark, while ETH -2.75% inches towards $1.9k, reflecting a general rise in most large cap assets today. SOL -3.95% continues to show relative strength, moving above $22 on the day, a rise potentially attributable to improving DeFi user data. DeFi 1.0 coins, such as COMP -4.84% and AAVE, are outperforming the majors, suggesting continued momentum within the DeFi sector. Today's standout performer in the broader crypto...
Equity indices are relatively flat to start this weekâs trading, with the SPY -2.07% gaining 0.11% and QQQ -3.27% declining 0.21%. Small-cap technology stocks are outperforming today as the Nasdaq 100 has announced a âspecial rebalanceâ effective July 24th due to an overconcentration in the index. The rebalance will not add or remove any securities from the index and will redistribute the weightings. Crypto markets are showing minor gains, with both BTC...
After a sharp downward move in equity indices following a blowout ADP report, the SPY -2.07% (+0.64%) and QQQ -3.27% (+0.74%) have stabilized in Fridayâs trading, as the US nonfarm payrolls report showed 209k jobs added in June versus 230k expected. Crypto markets have shaken off negative headlines regarding key Binance executives exiting the firm amid claims they did not support Changpeng Zhaoâs (CZ) response to an ongoing DOJ investigation. CZ addressed...
The crypto market is experiencing a post-Independence Day dip, with BTC and ETH -2.75% retesting levels of $30,000 and $1,900, respectively. Most popular altcoins are also trending lower, exhibiting a 2-3% decrease compared to 24 hours prior. This downward slide can be attributed to a combination of macro and idiosyncratic factors. The DXY is trading higher, bolstered by disappointing economic data emanating from China and today's rally in long-term rates. Concurrently,...
BTC is up 1.7% today, retesting above $31K as crypto markets shrug off last week's negative ETF-related headlines. Most ETF applicants have now refiled to address the SEC's concerns that applications were inadequate without naming exchanges tasked with market surveillance. Equities with high beta to BTC have seen significant gains today. Publicly traded BTC miners Marathon Digital (MARA -4.11% ) are up 10.53%, CleanSpark (CLSK -4.76% ) is up 13.29%, and Terawulf (WULF) gained...
BTC is flat since yesterday at $30.5k as investors were whipsawed from initial gains to a sharp headline-driven sell-off, which has now been retraced. According to CryptoSlateâs data, BTC suddenly crashed by 3.53% on the 1-hour candle to $29,946. This sudden collapse coincided with a Wall Street Journal article that reported shortcomings in the spot Bitcoin ETF applications recently filed by BlackRock and Fidelity. ETH -2.75% is up 4.9% today, reversing...
Traditional indices are mixed today following stronger than expected economic data. The SPY -2.07% and QQQ -3.27% are trading +0.26% and -0.35%, respectively. The US Dollar and US Treasury yields have rallied today as the strong economic data reinforces the higher-for-longer mantra regarding US interest rates. All eyes will be on the May PCE data release tomorrow, which should give investors a better view into the ongoing inflation fight. After dipping yesterday,...
Michael Saylorâs MicroStrategy has purchased another 12,333 Bitcoin at an average price of $28,136. The additional purchase brings the firmâs Bitcoin holdings to over 152,000 BTC at an average price of approximately $29.6k. BTC (-1.09%) has declined slightly in light of the announcement, and ETH -2.75% (-1.48%) continues to underperform Bitcoin. Injective (INJ) is outperforming today (+1.72%) while also being one of the strongest coins on the week, rising 10.90% compared...
Bitcoin continues to hover above $30k, gaining 2% over the last day. ETH -2.75% 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...
Japan Implements Crypto Friendly Tax Policy and HSBC Hong Kong Lets Customers Trade Crypto ETFs
Crypto markets pulled back today, BTC is down 1.44% and ETH -2.75% is down 2.81%. Altcoins took a bigger hit, especially those that Robinhood is delisting and expected to sell later this week amid the SEC's crackdown (Cardano, Solana, and Matic). ADA, SOL -3.95% , and MATIC are down 4.01%, 4,13%, and 3.62%, respectively. Interestingly, many of the "DeFi 1.0" tokens (DeFi protocols launched in 2019 and 2020) saw large gains over the weekend. AAVE,...
