$SUI Token Launches and $BUSD hits Record Low in Activity
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CRYPTO MARKET UPDATE The last key macro risk for crypto markets this week was Friday’s Bank of Japan (BOJ) meeting, with concerns around potential rate hikes or hawkish commentary. However, the BOJ held rates steady, reaffirming its stance not to raise rates in unstable market conditions. In response, crypto markets surged overnight, with BTC 0.24% briefly crossing $64K, ETH 4.40% rising above $2,570, and SOL 3.45% climbing past $152. Since the U.S. market...
CRYPTO MARKET UPDATE Crypto assets are trading lower ahead of today's crucial FOMC press conference, with BTC 0.24% dipping back below $60,000, ETH 4.40% falling under $2,300, and SOL 3.45% down to $127. The only token among the top 50 in the green is SUI 9.32% , following its USDC 0.01% launch announcement. Major equity indices are also in the red after the release of relatively strong housing data this morning, which is contributing to growing...
CRYPTO MARKET UPDATE The crypto market has moved lower over the past 24 hours, with BTC 0.24% dropping back near the $58k level, ETH 4.40% just below $2,300, and SOL 3.45% once again testing the $130 mark. Yields have started the week lower ahead of the upcoming FOMC meeting, where investors are currently anticipating a 50 bps rate cut, according to the Fed funds futures market. Equities started the morning broadly in the...
CRYPTO MARKET UPDATE The most notable market development over the past 24 hours has been the sharp increase in rate cut probabilities for next week’s FOMC meeting. After falling to just a 14% likelihood of a 50bps cut, the odds jumped to over 40% in after-hours trading following a large trade betting on two cuts. This shift may be linked to the optimism around the potential for two cuts conveyed...
