Crypto Daily Report – June 14

Jun 14, 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 14, 2022Yesterday, BTC fell over 15% to under $22k - its worst day since March 12, 2020, when it declined 39%. BTC went on to drop further to under $21k but has since rebounded about 8%. The broader crypto market is attempting to rally as well, with ETH up 14% and SOL up 17% from their lows. Still, the crypto market has lost its $1 trillion market cap milestone - down to $937 billion. After a similarly bleak day for equities yesterday when SPX declined 3.88%, stocks have opened up this morning, following the bounce in crypto as rallies in the 10Y US treasury yield and DXY take a momentary pause.This morning, Coinbase announced it's laying off over 1000 employees, approximately 18% of its workforce. The announcement came through a letter from CEO Brian Armstrong, who cited a rapidly changing economic outlook, the necessity to manage costs in down markets, and that the company grew too quickly as motivation for the layoffs. Since the beginning of 2021, Coinbase's headcount has increased approximately 200% year-over

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CRYPTO MARKET UPDATE CRYPTO HAS RESUMED ITS RECENT WEAKENING TREND FOLLOWING A WEEKEND PUMP, WITH BTC -1.52% TESTING THE $65K LEVEL, ETH -0.78% TRADING AROUND $3500, AND SOL -3.10% APPROACHING $140. The ETHBTC ratio is declining again after a weekend relief rally sparked by news from Bloomberg ETF expert Eric Balchunas on Friday evening, clarifying his timeline for the ETH ETF launch. Meanwhile, the DXY continues its upward trajectory from the post-CPI selloff,...

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