Magic Eden to Support Bitcoin NFTs, Sushi CEO Served SEC Subpoena
Equities and Crypto are mixed today, with the S&P rising 0.16% while BTC gained 1.77% over the last day. All eyes are on the Fed, set to deliver their next interest rate decision at 2 pm this afternoon. This will be the first decision following instability among regional banks and several high-profile bank failures. The Fed is in a tough spot as it weighs risking further financial sector instability against tightening liquidity conditions to continue fighting 6% YoY CPI inflation. As of this morning, there is an 86% probability that the Fed will hike 25 bps and a 14% chance that the Fed does not hike at all. Expectations have repriced dramatically in the last few weeks, and many market analysts have stated that a pause could make sense given the tightening of liquidity conditions that will result from regional banks. The Fed also plans to release its updated dot plot, although rumors are swirling that this may be withheld given the uncertainty of the rate path going forward. Its last projections released after the December meeting showed a midpoint on the bankâs target range at about 5.25% by the end of this year, while investors expect an end-of-year midpoint of 4.625%.
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Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 3.11% falling to $60k and ETH 7.59% approaching the low $2,300s. Aptos (APT -0.17% ) is one of the few gainers in the top 100 tokens as they have strengthened their presence in Japan via an acquisition of HashPalette, a Japanese NFT service provider and developer of Palette Chain. AAVE 7.94% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 3.11% climbing back above $61,000 and SOL 5.60% moving above $145, while ETH 7.59% is lagging, trading around $2,400. Among today's outperformers is SUI 5.27% , which appears resilient despite a $115 million token unlock yesterday. Oil is partially retracing its early rally, gold is lower on the day, and yields are moving higher, suggesting at least a temporary reversal of...
MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY 0.34% and QQQ 0.65% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC 3.11% briefly dropping below $62k and ETH 7.59% below $2.5k. Among altcoins, SUI 5.27% is showing...