BitDigest May 11 · Issue #899
- Crypto prices struggling to break $2.5 trillion level
- Indonesia looking to impose capital gains tax on crypto trading
- Kazakhstan releases roadmap for crypto industry
Crypto Fear & Greed Index
The Fear & Greed Index for bitcoin and other large cryptocurrencies dropped to a 6 day low falling 9 points since yesterday as crypto prices weaken following the general market sell off and Elon Musk’s dogecoin (DOGE) comments. The index remains in a ‘Greed’ range with a print of 61. I expect this range to hold as prices are likely to remain soft for the remainder of the week as US investors look to sell crypto to pay taxes ahead of next week’s IRS tax deadline.
The Headlines
Market Data
Thoughts on the Ecosystem
Daily Cartoon
Reports you may have missed
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 Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -2.80% falling to $60k and ETH -1.27% approaching the low $2,300s. Aptos (APT N/A% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE -5.17% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -2.80% climbing back above $61,000 and SOL -2.25% moving above $145, while ETH -1.27% is lagging, trading around $2,400. Among today's outperformers is SUI -3.29% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY -1.09% and QQQ -1.56% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC -2.80% briefly dropping below $62k and ETH -1.27% below $2.5k. Among altcoins, SUI -3.29% is showing...
Articles Read 1/2
Enjoyed the read? Subscribe now for unlimited access!
Get invaluable analysis of the market and stocks. Cancel at any time.
Already have an account? Sign In 243d1f-44a87a-92bd13-b773fd-984f45
Already have an account? Sign In 243d1f-44a87a-92bd13-b773fd-984f45