GBTC Discount Narrows, Uniswap Turns on Fee Switch for Equity Holders
Retail sales outperformed expectations, registering a 0.7% increase compared to the projected 0.3%. This briefly caused yields to soar before partially retracing. Concurrently, the DXY turned negative for the day, while Fed funds futures remained relatively stable, awaiting the next meeting. In crypto, BTC regained its 200-day moving average, stabilizing around $28.5K after a short-lived rally past $30K. Most altcoins trailed behind Bitcoin, except for Solana (SOL -7.01% ), which is nearing $24. The ETH / BTC pair is approaching its 200-week moving average, a development that could attract long-term investors to Ethereum and related assets. Both Bitcoin miners and Coinbase rallied, driven by recent positive SEC news and its decision not to appeal the Grayscale case. Grayscale Bitcoin Trust (GBTC) also rose by 2%, reducing its discount to net asset value to 12%, although this is still higher than what would be expected if an ETF conversion were imminent.
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 2.43% falling to $60k and ETH 1.11% approaching the low $2,300s. Aptos (APT -0.97% ) 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 0.31% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 2.43% climbing back above $61,000 and SOL 5.95% moving above $145, while ETH 1.11% is lagging, trading around $2,400. Among today's outperformers is SUI 1.80% , 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 -5.33% and QQQ -5.55% 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 2.43% briefly dropping below $62k and ETH 1.11% below $2.5k. Among altcoins, SUI 1.80% 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 2338de-ceb3ff-adde76-cad041-019dd9
Already have an account? Sign In 2338de-ceb3ff-adde76-cad041-019dd9