Crypto Daily Report – May 5

May 5, 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 FSInsightMay 5, 2022After yesterday's rally that followed the FOMC meeting announced a 50 bps increase to their target Federal Funds Rate, the crypto market is up 2.5% over the past 24 hours but cooling down quickly. Bitcoin pushed up against the $40k mark, but it has dropped to $39.2k (+0.8%) in the early hours of trading. Ethereum also made a run for $3k but failed to breach it and instead has come down to $2910 (+1.9%). The short rally was also accompanied by a boost in speculation, with Open Interest increasing by almost 6% from the day prior, reversing the nearly 7 straight days of declines in the crypto futures volume.Gucci announced that some of its US stores will begin accepting crypto for in-store payments by sending the customers a QR code to make the payment with Bitcoin, Ethereum, Litecoin, and seven other coins including five stablecoins. This is a natural development for the fashion giant after launching its first foray into NFTs with its SUPERGUCCI collection. Gucci also joins a quickly-growing list of luxury fa

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

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 1.30% breaking below $67k, ETH 4.83% finding support around $3500, and SOL 2.93% 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%...

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In