Crypto Daily Report – May 23

May 23, 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 23, 2022Cryptoassets are seeing some bounce this afternoon after coming off of the crypto market's eighth straight negative week. The global crypto market cap is trading 3.5% higher at the time of writing, as bitcoin (+1.1%) and ether (+2.4%) lead the way. Other layer 1's, such as SOL (+4.2%) and AVAX (+3.7%), are behaving as expected from high bitcoin-beta altcoins. Fantom (FTM) is the standout performer, up 18% compared to yesterday, following rumors of star developer Andre Cronje's return to the project. Moves in crypto remain highly correlated with public equities as the DJIA is up nearly 600 points, and the Nasdaq has gained over 1% on the back of apparent seller exhaustion. Some key events to earmark this week include a slew of earnings reports from retailers, which are likely to offer color on inflation, and the FOMC meeting minutes, to be released on Wednesday. The Federal Reserve released an annual study exploring the economic health of the US consumer. This year's study, which is the result of an 11,000

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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 1.37% breaking below $67k, ETH 4.68% finding support around $3500, and SOL 2.41% 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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