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 -2.37% and FTM are up 10.77% and 3.72%, and Bitcoin smart contract platform, STX 0.05% , is up 4.69%.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 3.67% falling to $60k and ETH 7.63% 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 7.76% is also showing slight gains following...
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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 0.56% and QQQ 0.48% 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 3.67% briefly dropping below $62k and ETH 7.63% below $2.5k. Among altcoins, SUI 7.42% is showing...