Crypto Daily Report – June 13

Jun 13, 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 13, 2022Markets continue to tumble following the red-hot inflation print on Friday morning. The dow slid 800 points at open, while the Nasdaq is trading 5% lower, now below $11k. The VIX trades 24% higher as the US 10Y approaches 3.3%. Meanwhile, the global crypto market is falling in line, down over 12% in the past 24 hours. Bitcoin and ether are down 15% and 17%, respectively, while many popular alts are trading over 20% lower. The current price action is the product of a continued macro sell-off but is being exacerbated by the apparent distress of the controversial crypto lending platform Celsius (more on this below). Bitcoin is now approaching its 200-week moving average and its LTH realized price ($22k), both viewed as key support/deep value areas for bitcoin. Investors are focused on positioning around the Fed meeting this week, in which it is expected that the Fed will raise rates by 50 bps in response to a 40-year high inflation figure.Figure: Bitcoin vs 200-week SMAOn Sunday evening, crypto lending firm

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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 0.27% breaking below $67k, ETH 0.48% finding support around $3500, and SOL 0.46% 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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