Genesis Capital's Muddy Bankruptcy Proceedings, Speculation Around Binance's Future Successor
Global markets find their footing after last Friday’s rally originating from a hot May jobs report. With the debt ceiling resolved and earnings seasons concluding, investors are honing in on the Fed’s meeting next week for guidance on what’s next. ^SPX -2.56% opened higher before retracing back to even, QQQ -4.55% displayed a similar pattern and is up 0.3%, while NDAQ -2.22% is trading at a 0.6% relative to Friday’s close. Digital asset markets have performed less favorably than traditional markets, with BTC and ETH changing hands at a 1.7% and 2.0% discount relative to the past 24 hours. BTC’s relative price action from traditional markets and its exit from its $27.0k – $29.5k range reflects lackluster interest from general investors and should indicate an impending long-term accumulation zone of $21.0k – $24.0k.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -3.09% falling to $60k and ETH -9.46% approaching the low $2,300s. Aptos (APT -0.63% ) 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 -8.85% is also showing slight gains following...
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