Rates Continue to Surge, Chase Censors Crypto Payments
Recent bearish trends continue to persist this afternoon. The SPX has sunk to its lowest level in months in part due to underwhelming home sales and consumer confidence data. Despite this data, rates continue to rise, with the U.S. 30-year yield eyeing the 4.7% mark after an early morning bout of short covering. All market sectors are currently in negative territory, and in the commodities market, oil prices are rebounding to levels just above $90. Meanwhile, gold is pulling back, approaching the $1,900 level. The DXY is maintaining its strength, solidly crossing the 106 threshold and on track for its 11th straight week of gains. In contrast to the broader market downturn, BTC has managed to hold its ground, staying above the $26,000 level despite the strong dollar, increasing interest rates, and declines in both gold and equities. The altcoin market is largely struggling, although there are notable exceptions such as OP -2.15% , up about 2% for the day, and MKR, which has surged by 7% today and has been one of the few crypto assets to show consistently positive price performance over recent weeks.
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 2.74% falling to $60k and ETH -1.04% 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 -1.13% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 2.74% climbing back above $61,000 and SOL 3.24% moving above $145, while ETH -1.04% is lagging, trading around $2,400. Among today's outperformers is SUI 6.15% , 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 1.15% 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 2.74% briefly dropping below $62k and ETH -1.04% below $2.5k. Among altcoins, SUI 6.15% 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 d10743-2ad4cd-fa3a83-3b0482-717b11
Already have an account? Sign In d10743-2ad4cd-fa3a83-3b0482-717b11