Market Update
919 Results
Risk markets were selling off before today's FOMC meeting where it was unanimously voted to keep interest rates steady. The Fed announced it would be reducing the speed of its balance sheet taper from $60 billion per month to $25 billion per month, a larger than expected reduction. Following the announcements and Chair Powellâs comments, yields turned sharply lower with the US10Y falling 9 basis points while equity indices rose....
We are witnessing a continuation of the recent weakness in crypto markets today, with BTC -3.61% now testing $60k, ETH -0.50% just below $3k, and SOL 6.31% dipping under $130. The broader altcoin market is experiencing even more pronounced declines, with very few names posting a green candle today. The market was pushed lower in the overnight hours following a disappointing debut from the Hong Kong ETFs (more on that below). However, this...
Investors will have a lot to digest this week, including various data releases such as consumer confidence, ADP Employment, JOLTS, and non-farm payrolls. Likely more important is the FOMC meeting and Treasury Quarterly Refunding Announcement (QRA), both set for Wednesday. Equities are gaining to start the week with the $SPY and $QQQ both up approximately 0.30% as the DXY 0.00% (-0.44%) slides after the BOJ intervened to support the Yen against the dollar. Crypto assets are struggling so...
Major equity indices are rallying on the back of solid earnings, with both the $SPX and $QQQ up over 1%. Meanwhile, crypto markets are churning lower, which is understandable as we should not expect crypto to rally alongside equities during an earnings-driven market. Crypto remains an apparently undecided market ahead of next week's FOMC meeting and the Quarterly Refunding Announcement (QRA), evidenced by another day of ETF outflows and a...
U.S. equity indices are under pressure today following disappointing economic growth in conjunction with hotter-than-expected prices paid, sparking stagflation fears and reducing the chances of rate cuts. The $SPY has declined 0.91% to test $501 and the $QQQ has dropped 1.12% to $421, being weighed down by a 12% drop in META following its Q1 earnings release. Crypto markets are faring better, with BTC -3.61% (-0.28%) trading at $64k and ETH -0.50% ...
The crypto market is pulling back from its recent surge, with $BTC falling below $65,000, $ETH trading under $3,200, and $SOL fighting to stay above $150. As expected, altcoins are also generally declining, although a few notable performers are scattered across the market. Currently, $BONK and $WIF, two prominent memecoins on Solana, are showing resilience, up 12% and 6%, respectively. Additionally, $HBAR initially doubled in price following reports that Blackrock...
Blockchain Association Sues the SEC, Cosmos Patches Potential Reentrancy Vulnerability
U.S. Treasury rates and the DXY (-0.46%) are sliding today following weaker-than-expected S&P Flash PMI data, helping catalyze a 1% rally in equity indices. Manufacturing PMI came in at 49.9 vs. 52.0 expected, and Services PMI read 50.9 vs. 52.0 expected. Bitcoin miners have benefited as rates retreat and transaction revenue remains elevated, with $RIOT, CLSK, and $MARA showing weekly gains of 26%, 16%, and 14%, respectively. Crypto assets are mixed with BTC -3.61% ...
After significantly outperforming equities leading up to its halving event on Friday, BTC -3.61% continued its upward trend over the weekend, now trading just below $66k. ETH -0.50% has generally followed suit, although continuing to lag behind BTC, with its current price around $3200. SOL 6.31% , meanwhile, has continued its strong rebound from the recent price slide, reaching $156 yesterday, currently trading slightly below that level. The crypto market is broadly performing well...
Happy Halving Day to all. It has been another volatile 24 hours for crypto markets, with war-related headlines sending risk assets lower overnight. BTC -3.61% briefly dipped below the $60k mark but has since recouped all its losses and is now trading above $64k. ETH -0.50% followed BTC's initial drop, trading below $2900 last night, but it has now rebounded to above $3000. SOL 6.31% has shown remarkable resilience amid the turmoil, now...
Tether Outlines New Organizational Structure, Aptos Partners with Microsoft, Brevan Howard, and SK Telecom
Traditional markets are finding some relief in Thursdayâs trading after four consecutive sessions of losses. The SPY and QQQ have gained approximately 0.30%, while the IWM (+0.99%) is showing outsized gains. Crypto markets are finding larger relief, with $BTC rising 3.92% to $63.7k, and $ETH gaining 2.71% to exceed $3,050. Injective ($INJ) is one of the leading tokens today, gaining 9.37% following news of a partnership with JamboPhone to bring blockchain-powered financial solutions to emerging markets. JamboPhone...
Equities and crypto assets are selling off in tandem today as inflation and geopolitical fears have spooked risk assets. The SPY and QQQ have decreased by 0.46% and 0.92%, respectively, while crypto is selling off more aggressively. $BTC (-5.49%) has tested the high $59,000s and $ETH (-4.42%) is trading below $3,000. Among a sea of red, $SUI is showing relative strength, gaining 6.44% on the back of a partnership announcement with...
Risk assets remain under pressure as the DXY's relentless rally has continued, now approaching its 2023 highs, currently at 106.5. Rates continue to move higher, with the 10Y now reaching a new year-to-date high of 4.7%. Gold continues its upward march amid persistent geopolitical tensions. Crypto remains weak in the face of rising rates, geopolitical risks, and tax season. $BTC continues to range between $61K and $63K following yesterday's afternoon...
