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Crypto Daily Report – November 8

Nov 8, 2021
body div center ul, body div center li { font-size: 22px; margin-left: 10px !important; margin-right: 0 !important; Most Important Daily Data and News for Digital Assets Crypto Daily ReportThe Most Important Daily Data for Digital Assets Daily Updates from FSInsightNovember 8, 2021Bitcoin surged over the weekend from a low of $60,200 to a local high yesterday evening of $66,200 on the back of increasing on-chain transfer volume. Bitcoin dominance experienced a trend reversal, rising from a local low of 42.5% to nearly 44.0% on Sunday night. Ethereum has also performed strongly, reaching a new all-time high of $4,760 on Monday morning. This price action is encouraging, especially for those concerned that the Fed starting to taper would put a damper on the current bull run. Late Friday evening, the US House of Representatives voted to pass the bipartisan infrastructure bill that contains open-ended wording relating to the definition of who is deemed a broker for IRS purposes. The bill now heads to President Biden's desk for signature. We have previously expressed concern about this language as it potentially leaves certain miners and developers at risk of being considered brokers, which would require these entities to yield to impractical tax reporting requirements. As we have co

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CRYPTO MARKET UPDATE AFTER ANOTHER DAY OF SIZEABLE OUTFLOWS FROM ETHE 4.58% , THE GRAYSCALE-ISSUED ETF NOW RETAINS JUST 85% OF THE AUM IT BEGAN WITH ON TUESDAY. However, crypto has rallied strongly since the US market closed yesterday, with BTC -0.09% briefly moving above the $68k level, ETH -0.47% rebounding sharply to $3,250, and SOL 0.26% revisiting $184. Among larger-cap tokens, SOL beta names including RNDR and JUP have outperformed over the past 24...

BTC -0.09% CFX 0.14% ETH -0.47% GBTC +4.88% IBIT JUP -8.65% RNDR -3.51% SOL 0.26%
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CRYPTO MARKET UPDATE CRYPTO WAS CERTAINLY LOOKING STRONG RELATIVE TO EQUITIES YESTERDAY UNTIL ASIAN MARKET HOURS COMMENCED. Shortly after the HK market opened, we saw increased sell pressure and approximately $100 million in liquidations across all crypto assets, bringing BTC -0.09% down to below $64,000, ETH -0.47% down to $3,150, and SOL 0.26% to just below $170. This contrast in price action during U.S. and Asia market hours has been consistent throughout July....

AAVE 1.92% BTC -0.09% ETH -0.47% MARA +6.31% SOL 0.26% TRX 0.03%
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CRYPTO MARKET UPDATE RATES ARE BROADLY LOWER, WITH A NOTABLY STRONGER RALLY AT THE FRONT END OF THE CURVE AS THE MARKET APPEARS TO BE TAKING POTENTIAL RATE CUTS OVER THE NEXT COUPLE OF FOMC MEETINGS MORE SERIOUSLY. Despite significant weakness in equities today, the crypto market is looking relatively healthy, with BTC -0.09% and many altcoins in the green. BTC -0.09% briefly rallied above $67k but has since drifted back down...

BTC -0.09% ETH -0.47% GBTC +4.88% IWM +1.75% QQQ +1.08% SOL 0.26% ^SPX
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CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH -0.47% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC -0.09% to Bitstamp, leaving about 90k BTC -0.09% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC -0.09% is trading around $66.5k,...

AVAX -3.53% BTC -0.09% ETH -0.47% ETHBTC ETHE N/A% GBTC +4.88% GOOGL -0.17% SOL 0.26% TSLA -0.12% V +2.1%

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