Market Update
961 Results
Paxos Approved to Issue Stablecoins in Singapore, Robinhood Hopes to Offer Crypto Futures
CRYPTO MARKET UPDATE RATES HAVE PARED EARLY MORNING LOSSES AFTER MAY JOLTS DATA SHOWED 8.14 MILLION JOB OPENINGS VERSUS 7.91 MILLION EXPECTED. Equities are showing slight gains, with the SPY 0.54% increasing to $546 and the QQQ 0.97% gaining to $484, helped by Tesla’s better-than-expected Q2 deliveries, leading to TSLA surging over 9%. Crypto assets are mixed, with majors showing declines and the broader altcoin market rallying. BTC -1.45% is trading below $61.8k,...
CRYPTO MARKET UPDATE BTC IS UP 5% SINCE MARKET CLOSE ON FRIDAY, HOVERING JUST ABOVE $63K, WHILE ETH -0.54% IS LAGGING, CURRENTLY TRADING BELOW $3500. This ETH underperformance further supports the idea that market expectations for the ETH -0.54% ETFs are relatively muted. Meanwhile SOL 5.42% is nearly back to the level it traded at on Thursday following VanEck's application to list a SOL 5.42% ETF, now trading around $148. While we have yet...
CRYPTO MARKET UPDATE DESPITE MAY PCE DATA COMING IN LINE WITH EXPECTATIONS AT 0.0% MOM, U.S. TREASURY YIELDS ARE MOVING HIGHER ACROSS THE CURVE, AND THE DXY IS HOLDING STEADY AT $105.8. Equity indices are flat on the day in the final trading session of Q2. Crypto is showing weakness, with BTC -1.45% declining to $60.7k and ETH -0.54% falling below $3,400. After surging upon news of VanEck filing for a Solana...
CRYPTO MARKET UPDATE THE CRYPTO MARKET RALLIED THIS MORNING ALONGSIDE FALLING RATES AND A WEAK DXY. Quarterly GDP growth aligned with market expectations at 1.4%, and durable goods orders slightly exceeded expectations. The most important piece of macro data this week will be Core PCE, due tomorrow. Among the majors, SOL 5.42% outperformed, rallying to $148 on the news of VanEck filing an ETF application. Meanwhile, ETH -0.54% is trading around $3,450,...
CRYPTO MARKET UPDATE U.S. EQUITIES ARE RELATIVELY FLAT AS THE DXY N/A% HAS SURGED ABOVE $106, FUELED BY THE YEN'S WEAKNESS, WITH USDJPY HITTING ITS HIGHEST LEVEL SINCE 1986. Crypto assets are giving back some of yesterday’s gains, with BTC -1.45% trading at $61.2k and ETH -0.54% hovering near $3,350. AVAX -0.74% is showing strength today following news of popular web3 developer, OtherWorld announcing its choice to build an NFT platform on Avalanche. OtherWorld...
Encouraging Move in CB Discount at US Market Open, CORZ announcement leads HPC Miner Cohort Higher
CRYPTO MARKET UPDATE CRYPTO IS REBOUNDING NICELY TODAY FOLLOWING AN INTENSE BITCOIN-LED SELLOFF YESTERDAY, CATALYZED BY IDIOSYNCRATIC SELL PRESSURE FROM FEARS OVER MT. GOX SUPPLY COMING TO MARKET. It was a somewhat rare occurrence to have such a significant selloff in BTC -1.45% but an overall positive day for altcoins. BTC -1.45% is attempting to reclaim $62k, while ETH -0.54% hovers just above $3400, and SOL 5.42% tries to break through $140 again. Interestingly,...
CRYPTO MARKET UPDATE EQUITIES ARE MIXED THIS MORNING, WITH THE SPY 0.54% GAINING 0.30% AND THE QQQ 0.97% DECREASING 0.31%, WEIGHED DOWN BY A 5% DROP IN NVDA 26.41% . The DXY N/A% has dropped 0.32%, although it has not boosted crypto assets. BTC -1.45% has fallen more than 3%, briefly dropping under $61k after news of Mt. Gox repayments beginning in July (more below). ETH -0.54% has followed suit, declining to $3,300 despite the likelihood that...
CRYPTO MARKET UPDATE TODAY'S FLASH S&P PMIS SURPRISED TO THE UPSIDE, LEADING TO A BRIEF UPTICK IN RATES, WHICH HAS SINCE LARGELY RECEDED. Despite this, the DXY continues its march back toward 106, nearly reaching that level this morning. Naturally, crypto continues to display relative weakness, with BTC -1.45% dropping below $64k, ETH -0.54% below $3500, and SOL 5.42% briefly dipping below $130, now trading just above that level. ETHBTC is showing some...
CRYPTO MARKET UPDATE DESPITE SLIGHTLY HIGHER THAN EXPECTED JOBLESS CLAIMS (238K VS. 235K EXP.) AND WEAK HOUSING STARTS DATA, RATES ARE RISING TODAY, WITH THE US10Y TICKING UP TO 4.27%. The DXY is also rising as investors are pricing a higher likelihood of the Bank of England cutting rates in August after holding them steady today. The S&P 500 and Nasdaq 100 opened at new all-time highs and are now...
CRYPTO MARKET UPDATE U.S. EQUITIES ARE FLAT IN TODAY’S TRADING AHEAD OF TOMORROW’S MARKET CLOSURE IN RECOGNITION OF JUNETEENTH. This morning’s retail sales report showed consumer spending slowing, with MoM sales reading +0.1% versus +0.3% expected and core sales at -0.1% versus +0.2% expected. Rates and the DXY are declining in response to the data, while crypto assets continue to show weakness. BTC -1.45% fell to the low $64,000s this morning...
CRYPTO MARKET UPDATE CRYPTO HAS RESUMED ITS RECENT WEAKENING TREND FOLLOWING A WEEKEND PUMP, WITH BTC -1.45% TESTING THE $65K LEVEL, ETH -0.54% TRADING AROUND $3500, AND SOL 5.42% APPROACHING $140. The ETHBTC ratio is declining again after a weekend relief rally sparked by news from Bloomberg ETF expert Eric Balchunas on Friday evening, clarifying his timeline for the ETH ETF launch. Meanwhile, the DXY continues its upward trajectory from the post-CPI selloff,...
CRYPTO MARKET UPDATE ECONOMIC DATA CONTINUES TO SOFTEN, WITH TODAY'S CONSUMER SENTIMENT SURVEY COMING IN AT 65.6, BELOW THE CONSENSUS MARKET FORECAST OF 72. One-year inflation expectations remain unchanged compared to last month. Rates are lower again today, but the DXY is higher due to outsized weakness in global markets. We sent out a note today recommending relative risk aversion in the immediate term as crypto continues to weaken. BTC -1.45% ...
