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Bitcoin Rallies on Strategic Reserve Rumors, Galaxy Acquires Additional Staking Assets
CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY 1.11% AND QQQ 1.08% BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY N/A% AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC -0.64% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH -0.82% is trading at $3,450 ahead of potential S-1 approval after...
CRYPTO MARKET UPDATE U.S. EQUITIES ARE MOVING SHARPLY LOWER AMID CHINA TRADE FEARS AFTER THE BIDEN ADMINISTRATION STATED IT'S CONSIDERING IMPOSING SEVERE RESTRICTIONS ON CHIPMAKERS IF CHINA CONTINUES RECEIVING ACCESS TO ADVANCED SEMICONDUCTOR TECHNOLOGY. The SPY 1.11% has dropped below $560 while the QQQ 1.08% is showing more pronounced losses, falling to $484. Crypto is relatively flat, with BTC -0.64% trading near $65k. Bitcoin ETF flows continue their positive streak, posting the eighth...
CRYPTO MARKET UPDATE TODAY'S PRODUCER PRICE INDEX (PPI) CAME IN AT 0.2%, ABOVE THE CONSENSUS FORECAST OF 0.1%, INITIALLY SENDING RATES HIGHER, BUT THAT MOVE WAS QUICKLY FADED. Rates and the DXY moved more decisively lower following the release of the latest consumer sentiment survey, which came in at 66, below the market forecast of 68.5. In equity markets, we are seeing a continuation of the rotation trade, with IWM...
CRYPTO MARKET UPDATE EQUITIES ARE MIXED THIS MORNING, WITH THE SPY 1.11% GAINING 0.30% AND THE QQQ 1.08% DECREASING 0.31%, WEIGHED DOWN BY A 5% DROP IN NVDA 26.41% . The DXY N/A% has dropped 0.32%, although it has not boosted crypto assets. BTC -0.64% has fallen more than 3%, briefly dropping under $61k after news of Mt. Gox repayments beginning in July (more below). ETH -0.82% has followed suit, declining to $3,300 despite the likelihood that...
