Asia Bidding, Key BTC Level at $28.1k
Major equity indices are trending lower today, while interest rates are on the rise, with the US 10-Year seemingly poised to hit a new YTD high. The DXY started the day strong but has since plateaued, currently sitting flat. In the commodities market, gold, which BTC has directionally tracked quite well this year, is also up. In the crypto market, Bitcoin experienced a morning rally, surging back up to nearly $27.5k and lifting the broader market along with it. We discuss some interesting details surrounding this price action below. Meanwhile, ETH is currently hovering around the $1,650 mark. One of today’s big winners is GMX, the decentralized perps exchange, which is up nearly 5%. All eyes are on the upcoming FOMC meeting scheduled for today and tomorrow, where a pause in interest rate hikes is expected to be announced during tomorrow’s press conference.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 2.07% falling to $60k and ETH -0.58% approaching the low $2,300s. Aptos (APT N/A% ) 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 -0.74% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 2.07% climbing back above $61,000 and SOL 0.94% moving above $145, while ETH -0.58% is lagging, trading around $2,400. Among today's outperformers is SUI 3.62% , 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 0.91% and QQQ 1.87% 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 2.07% briefly dropping below $62k and ETH -0.58% below $2.5k. Among altcoins, SUI 3.62% is showing...
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