Header logo
  1. Research
  2. Crypto Research
  3. Market Update

Crypto Daily Report – May 6

May 6, 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 6, 2022Over the past 24 hours, the total crypto market has declined 8.4% or $150 billion in market cap to $1.64 trillion. BTC is down 9% to about $36,000, underperforming ETH, which is down 8% and is currently hovering around $2,650. The sell-off in crypto mirrors yesterday's equity sell-off where high-growth tech names like ARKK were similarly down high single digits. While funding rates on BTC perpetual futures contracts have since stabilized, yesterday they reached negative levels not seen since January, indicating a short-lived short bias amongst traders.Yesterday, the Luna Foundation Guard (LFG) announced it had raised an additional $1.5 billion to continue purchasing BTC for its reserves. The purchase included 37,863 BTC via over-the-counter swaps with Genesis Trading and assistance from Three Arrows Capital. Specifically, the deal included a $1 billion swap with Genesis for $1 billion in Terra's UST stablecoin and a $500 million BTC purchase from Three Arrows Capital. To date, LFG has accumulated approximat

Unlock this article with a FREE 30-Day Trial!

An FSI Pro, or FSI Crypto subscription is required in order to access this content.

*Free trial available only on a monthly plan

Already a member?

Reports you may have missed

Bitcoin Is A New Concept Of Virtual Money, The Graphics And Digital Background. Coins With The Image Of The Letter B.

MARKET UPDATE U.S. EQUITIES ARE RELATIVELY FLAT ON THE FINAL DAY OF TRADING FOR AUGUST, WITH THE ^SPX 0.91%  OSCILLATING AROUND $5,600 AND THE NDQ TRADING NEAR $19,400. Rates and the dollar are gaining today despite PCE and Consumer Confidence data providing more assurance that inflation is receding. Crypto is underperforming, with BTC 0.08% falling to $58.5k and ETH -0.01% at $2,450, as ETF flows and spot volumes have been muted this week....

BTC 0.08% ETH -0.01% FET -2.88% RNDR -3.51% SAFE N/A% SOL -0.47% ^SPX TAO 0.68%
Crypto Coins On Gold Background

CRYPTO MARKET UPDATE In stark contrast to the recent BLS job number revisions, the government revised its Q2 GDP estimate higher this morning to 3%, leading to a jump in rates and the DXY. However, this data also apparently boosted confidence in the soft landing trade, as rate-sensitive indices like IWM are outpacing ^SPX 0.91%  and QQQ 1.15% . Chip-adjacent stocks are also performing well, spurred by another earnings beat from NVDA 1.39% , benefiting...

BTC 0.08% CORZ ETH -0.01% HNT -1.29% IREN NVDA +1.39% QQQ +1.15% SOL -0.47% ^SPX STX -0.07% WULF
Crypto 2021 Mid-Year Outlook

MARKET UPDATE U.S. EQUITIES ARE DECLINING AHEAD OF NVIDIA EARNINGS LATER TODAY, WITH THE SPY 0.91%  DECREASING TO $558.53, WHILE THE NVIDIA-HEAVY QQQ 1.15%  HAS DROPPED TO $472.20. The crypto market has suffered from large amounts of liquidations over the last 24 hours, totaling over $355 million as yesterday evening, BTC 0.08% fell swiftly from $62k down to $58k while ETH -0.01% made a similar move, falling from $2.6k to $2.4k in less than...

BLUR 11.44% BNB -0.09% BTC 0.08% ETH -0.01% ETHBTC LOOKS 0.26% QQQ +1.15% SPY +0.91% TON 48.02%
The 2 reasons bitcoin could surge by 170% to $168,000 by year-end as crypto-linked ETFs roll out

CRYPTO MARKET UPDATE Despite a $200 million inflow into BTC ETFs yesterday, crypto prices have declined over the past 24 hours. BTC 0.08% has fallen back below $62K, ETH -0.01% is under $2,600, and SOL -0.47% is just below $155. Only a few coins are in the green today, including TON 48.02% , rebounding from its recent selloff, MKR -0.78% , following its major rebrand announcement, and STX -0.07% , likely benefiting from the ongoing activation of the Nakamoto...

AAVE 1.28% BTC 0.08% BUIDL ETH -0.01% GHO 0.08% IWM +0.59% KRE +0.54% MKR -0.78% QQQ +1.15% SOL -0.47% ^SPX STX -0.07% TON 48.02% USDC 0.00%

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