Crypto Daily Report – May 31
Reports you may have missed
MARKET UPDATE The PBoC has announced a fresh package of economic stimulus, weighing a $142 billion injection into top domestic banks and pledging to stabilize the housing and stock markets. Domestically, durable goods data came in better than expected, and GDP met expectations, providing more confidence in the stability of the U.S. economy. Crypto is responding positively to both developments, as BTC 2.25% has gained to $65.3k and ETH 2.01% to $2,650,...
AI Miners Continue Outperformance, CB Premium Remains Muted Despite Flows Increasing
CRYPTO MARKET UPDATE The crypto market has been consolidating over the past 12 hours following Bitcoin’s first daily close above its 200-day moving average since last August. BTC 2.25% is hovering just below $64K, while ETH 2.01% is holding above $2,600, and SOL 3.51% remains strong above $150. SEI 2.11% , one of the high-performance L1s that rallied significantly in Q1, is leading the market today, following a similar path to SUI 0.05% . Other notable outperformers...
MARKET UPDATE Equities are gaining following the People’s Bank of China announcing the largest stimulus package since the pandemic. China-related names are surging, with FXI 7.68% and KWEB 11.27% gaining more than 8%. The SPY 0.41% and QQQ 0.79% have gained 0.22% and 0.67%, respectively. Crypto is mixed, with altcoins outperforming the majors. BTC 2.25% has declined modestly to $63k, and ETH 2.01% is trading just above $2,600. TIA -1.11% has been one of the top gainers...
CRYPTO MARKET UPDATE Crypto began the final full week of September trading—historically the worst time of the year for the asset class—with a positive move higher. BTC 2.25% briefly pushed above $64K during Sunday's session, attempting to break through its 200-day moving average. Meanwhile, ETH 2.01% has quietly rallied 10% against BTC 2.25% over the past five days, now trading above $2,660, while SOL 3.51% has retreated to $144 after reaching $152 on Friday....
