Bitcoin Breaks $30k and Winklevoss Twins Loan $100M to Gemini
Crypto markets rallied last night and this morning as BTC broke above $30,000 for the first time since June last year. At the time of writing, BTC is up 1.57%, ETH is up 0.09%, and SPX and NDQ are down 0.04% and 0.71%, respectively. Bitcoin continues to outperform relative to most of the crypto market – the Bitcoin Dominance ratio is up 0.45% today and has reached its highest level in two years at 48.54%. Despite Bitcoin’s dominance run, a couple of altcoins are outperforming. Alt layer ones SOL 5.70% and FTM are up 10.77% and 3.72%, and Bitcoin smart contract platform, STX N/A% , is up 4.69%.
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CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 0.43% climbing back above $61,000 and SOL 0.81% moving above $145, while ETH 1.76% is lagging, trading around $2,400. Among today's outperformers is SUI 0.17% , 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 -1.09% and QQQ -1.69% 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 0.43% briefly dropping below $62k and ETH 1.76% below $2.5k. Among altcoins, SUI 0.17% is showing...