Kyle Davies Ordered to Respond to Subpoena, SBF Pleads Not Guilty
Markets continue pushing higher on slowing PCE data, pointing to signs of slowing economic momentum ahead of the banking crisis. Consumer PCE increased 0.2% in February (vs. January’s 2%). After adjusting for inflation, however, spending actually fell 0.1% MoM in February. ^SPX -0.21% and QQQ -0.32% have opened higher on the news before trading 1.0% and 1.1% higher at the time of writing. Digital asset markets have followed suit, with BTC and ETH trading 1.1% and 2.7% higher than the past day. Over the past week, Stacks (STX -0.26% ) has been the worst performer in the Top 100, retracing 22%. With fundamentals unchanged, our valuation catch-up remains intact, and hence we view this dip as an opportunity to gain exposure to the most prominent L2 on Bitcoin.
Reports you may have missed
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 -1.42% falling to $60k and ETH -2.89% approaching the low $2,300s. Aptos (APT N/A% ) 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 -2.61% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -1.42% climbing back above $61,000 and SOL -4.34% moving above $145, while ETH -2.89% is lagging, trading around $2,400. Among today's outperformers is SUI -1.53% , 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 -0.21% and QQQ -0.32% 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 -1.42% briefly dropping below $62k and ETH -2.89% below $2.5k. Among altcoins, SUI -1.53% is showing...
Articles Read 1/2
Enjoyed the read? Subscribe now for unlimited access!
Get invaluable analysis of the market and stocks. Cancel at any time.
Already have an account? Sign In 04fcc2-4e44b6-91325f-0d9412-04d7ca
Already have an account? Sign In 04fcc2-4e44b6-91325f-0d9412-04d7ca