SEC Deems BTC ETF Applications Inadequate, CME Applies to Launch ETHBTC Futures
BTC is flat since yesterday at $30.5k as investors were whipsawed from initial gains to a sharp headline-driven sell-off, which has now been retraced. According to CryptoSlateâs data, BTC suddenly crashed by 3.53% on the 1-hour candle to $29,946. This sudden collapse coincided with a Wall Street Journal article that reported shortcomings in the spot Bitcoin ETF applications recently filed by BlackRock and Fidelity. ETH is up 4.9% today, reversing its relative downtrend vs. BTC throughout June. This comes as CME announced it would be applying to launch ETHBTC-denominated Futures (more below). Bitcoin Cash (BCH 2.39% ) was the highest-performing large-cap digital asset this month, showing monthly gains of 91.7% and 32.7% in the past 24 hours to reach a yearly high today of $323.13. Recent outperformance has mainly come within the last ten days after BCH 2.39% was listed on EDX Markets, a recently debuted exchange with investor participation from traditional institutional investors such as Citadel and Fidelity. Litecoin (LTC 1.24% ), another asset listed with EDX, has gained 28.5% in the last day, coinciding with the LTC 1.24% hash rate falling just short of all-time highs, and in anticipation of Litecoins next halving, expected to occur on 8/5/23.
Reports you may have missed
Crypto Receives a Boost from Strong Jobs Print, WULF Sells Hash Rate to Expand AI Capabilities
CRYPTO MARKET UPDATE The crypto market is moving higher today, lifted by stronger-than-expected jobs numbers. The BLS reported 254k jobs added last month, far exceeding the market estimate of 140k, while August's figures were revised up from 142k to 159k. The unemployment rate also dropped to 4.1% from 4.2%. In response, rates rallied, the DXY spiked, and the futures market largely priced out the possibility of a 50 bps rate...
MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC -0.31% falling to $60k and ETH 4.02% approaching the low $2,300s. Aptos (APT 1.35% ) 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 6.90% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.31% climbing back above $61,000 and SOL -0.24% moving above $145, while ETH 4.02% is lagging, trading around $2,400. Among today's outperformers is SUI 1.85% , 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 0.41% and QQQ 0.47% 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 -0.31% briefly dropping below $62k and ETH 4.02% below $2.5k. Among altcoins, SUI 1.85% is showing...
Articles Read 1/2
Enjoyed the read? Subscribe now for unlimited access!
Get invaluable analysis of the market and stocks. Cancel at any time.
Already have an account? Sign In 20d942-99a5a5-e26a18-960a61-9fdf5f
Already have an account? Sign In 20d942-99a5a5-e26a18-960a61-9fdf5f