BitDigest May 21 · Issue #907
Reports you may have missed
CRYPTO MARKET UPDATE The last key macro risk for crypto markets this week was Friday’s Bank of Japan (BOJ) meeting, with concerns around potential rate hikes or hawkish commentary. However, the BOJ held rates steady, reaffirming its stance not to raise rates in unstable market conditions. In response, crypto markets surged overnight, with BTC 0.65% briefly crossing $64K, ETH 4.95% rising above $2,570, and SOL 3.59% climbing past $152. Since the U.S. market...
MARKET UPDATE Yesterday’s FOMC meeting resulted in the Federal Reserve reducing interest rates by 50 bps, and Fed Chair Powell striking an optimistic tone about the state of the U.S. economy. Risk assets are rallying today, with crypto leading the charge. BTC 0.65% has gained to $63.7k and ETH 4.95% is approaching $2,500. Altcoins are seeing outsized rallies, with TIA 1.25% and DYM -4.64% outperforming, with both gaining over 14% today. APT -0.36% has similarly...
CRYPTO MARKET UPDATE Crypto assets are trading lower ahead of today's crucial FOMC press conference, with BTC 0.65% dipping back below $60,000, ETH 4.95% falling under $2,300, and SOL 3.59% down to $127. The only token among the top 50 in the green is SUI 8.39% , following its USDC 0.00% launch announcement. Major equity indices are also in the red after the release of relatively strong housing data this morning, which is contributing to growing...
MARKET UPDATE Crypto has gained sharply ahead of tomorrow’s FOMC meeting, at which the Fed is expected to begin its easing cycle. There is still uncertainty on the magnitude of the first rate cut, with markets pricing a 61% probability of 50bps as of this morning. BTC 0.65% has risen from $58k to $61k and ETH 4.95% has risen from the high $2,200s to $2,370. SUI 8.39% is outperforming today following news that...
