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 0.64% opened higher before retracing back to even, QQQ 1.41% displayed a similar pattern and is up 0.3%, while NDAQ 0.12% 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 -0.83% falling to $60k and ETH 4.04% approaching the low $2,300s. Aptos (APT 0.13% ) 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 9.23% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.83% climbing back above $61,000 and SOL -1.57% moving above $145, while ETH 4.04% is lagging, trading around $2,400. Among today's outperformers is SUI 0.77% , 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 0.64% and QQQ 1.41% 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 -0.83% briefly dropping below $62k and ETH 4.04% below $2.5k. Among altcoins, SUI 0.77% is showing...
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