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Crypto Daily Report – June 7

Jun 7, 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 FSInsightJune 7, 2022The crypto market has fallen 4.65% over the past 24 hours to $1.23 trillion. The declines are broad-based with BTC (-5.63%), ETH (-6.36%), and smart contract platforms like SOL (-10%) and FTM (-6.68%) all experiencing similar mid-single to low-double-digit declines. On the flip side, stocks opened up this morning. As we have highlighted over the past couple of weeks, BTC's correlation to SPY continues to decrease. See the trailing 30-day correlation chart below.This morning, US Senators Lummis (R-Wyo.) and Gillibrand (D-N.Y.) published the first overarching bipartisan crypto legislation. The bill aims to provide a comprehensive set of rules and regulations for the crypto industry that don't stifle innovation. One goal is to simplify tax reporting on crypto transactions. The bill would not require small purchases of goods and services (sub $200) to be subject to tax implications. The legislation would also instill the CFTC as the primary crypto regulatory body - overseeing digital asset exchanges.Bitwise an

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CRYPTO MARKET UPDATE AFTER ANOTHER DAY OF SIZEABLE OUTFLOWS FROM ETHE 4.58% , THE GRAYSCALE-ISSUED ETF NOW RETAINS JUST 85% OF THE AUM IT BEGAN WITH ON TUESDAY. However, crypto has rallied strongly since the US market closed yesterday, with BTC 2.86% briefly moving above the $68k level, ETH 2.52% rebounding sharply to $3,250, and SOL 5.45% revisiting $184. Among larger-cap tokens, SOL beta names including RNDR and JUP have outperformed over the past 24...

BTC 2.86% CFX 20.06% ETH 2.52% GBTC +4.88% IBIT JUP -8.65% RNDR -3.51% SOL 5.45%
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CRYPTO MARKET UPDATE CRYPTO WAS CERTAINLY LOOKING STRONG RELATIVE TO EQUITIES YESTERDAY UNTIL ASIAN MARKET HOURS COMMENCED. Shortly after the HK market opened, we saw increased sell pressure and approximately $100 million in liquidations across all crypto assets, bringing BTC 2.86% down to below $64,000, ETH 2.52% down to $3,150, and SOL 5.45% to just below $170. This contrast in price action during U.S. and Asia market hours has been consistent throughout July....

AAVE 4.50% BTC 2.86% ETH 2.52% MARA +6.31% SOL 5.45% TRX 1.19%
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CRYPTO MARKET UPDATE RATES ARE BROADLY LOWER, WITH A NOTABLY STRONGER RALLY AT THE FRONT END OF THE CURVE AS THE MARKET APPEARS TO BE TAKING POTENTIAL RATE CUTS OVER THE NEXT COUPLE OF FOMC MEETINGS MORE SERIOUSLY. Despite significant weakness in equities today, the crypto market is looking relatively healthy, with BTC 2.86% and many altcoins in the green. BTC 2.86% briefly rallied above $67k but has since drifted back down...

BTC 2.86% ETH 2.52% GBTC +4.88% IWM +1.75% QQQ +1.08% SOL 5.45% ^SPX
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CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH 2.52% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC 2.86% to Bitstamp, leaving about 90k BTC 2.86% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC 2.86% is trading around $66.5k,...

AVAX 5.15% BTC 2.86% ETH 2.52% ETHBTC ETHE N/A% GBTC +4.88% GOOGL -0.17% SOL 5.45% TSLA -0.12% V +2.1%

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