Crypto Daily Report – March 9

Mar 9, 2022
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 FSInsightMarch 9, 2022The total crypto market cap is up 7% over the last 24 hours, with majors (BTC & ETH) and major L1s (SOL, LUNA & AVAX) leading the pack. Markets have reacted favorably to Biden's executive order today, with Treasury Secretary Janet Yellen also adopting a dovish tone for the space, laying out how her department will 'support responsible innovation.' On the charts, this push contains BTC daily in the $38k to $45k range, while open interest and funding metrics remain fairly subdued on this gap up.President Biden signed an executive order today, indirectly urging federal agencies to examine the benefits and risks of cryptocurrencies, taking a unified approach to regulate and oversee digital assets. The relevant themes include illicit activity on blockchain networks, climate impact from the perspective of Proof-of-Work, and practical explorations into a CBDC. Industry lobbyists have considered the order to be the first legitimate acknowledgment from Western governments. Markets have reacted optimistically to th

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CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC -0.77% breaking below $67k, ETH 0.16% finding support around $3500, and SOL -2.17% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...

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