BTC ETF Issuers Get Ducks in a Row, Funding Rates Soar
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CRYPTO MARKET UPDATE DESPITE BEING THE LAUNCH DAY FOR ETH -1.22% ETFS, CRYPTO BROADLY MOVED LOWER IN THE EARLY MORNING HOURS TODAY, POSSIBLY DUE TO MOVEMENT OUT OF THE MT. GOX TRUSTEE WALLETS. Mt. Gox sent approximately $130 million in BTC -2.82% to Bitstamp, leaving about 90k BTC -2.82% remaining in the trustee wallets. This move lower was likely also influenced by a rise in the DXY. Currently, BTC -2.82% is trading around $66.5k,...
Market Reacts to Biden Dropping Out of Race, Exchanges Receive Approval to List ETH ETFs
CRYPTO MARKET UPDATE POLITICAL DEVELOPMENTS CONTINUE TO DOMINATE INVESTOR SENTIMENT FOLLOWING PRESIDENT BIDEN'S WITHDRAWAL FROM THE PRESIDENTIAL RACE ON SUNDAY AFTERNOON. The initial market reaction saw a dip in crypto prices, with Bitcoin falling from $67.5k to $66k. However, the market rebounded after Biden endorsed Harris. Since the U.S. market opened on Monday, we have seen relatively choppy price action. BTC -2.82% is now trading slightly above $67k, while ETH -1.22% remains...
Bitcoin Rallies on Strategic Reserve Rumors, Galaxy Acquires Additional Staking Assets
CRYPTO MARKET UPDATE U.S. EQUITIES ARE CONTINUING THIS WEEK’S SELL-OFF, WITH THE SPY 0.97% AND QQQ 1.40% BOTH DECLINING APPROXIMATELY 0.28%, WHILE THE DXY N/A% AND TREASURY YIELDS INCH UPWARDS. In contrast, BTC -2.82% is moving sharply higher, trading at $65.8k, with rumors circulating that former President Trump will unveil plans to add Bitcoin as a strategic reserve at next week’s Bitcoin conference. ETH -1.22% is trading at $3,450 ahead of potential S-1 approval after...
CRYPTO MARKET UPDATE THE CRYPTO MARKET MOVED HIGHER IN THE EARLY MORNING HOURS AND IS NOW CONSOLIDATING POST-US MARKET OPEN. BTC -2.82% once again challenged the $65k level and is currently sitting just below it, following the ninth consecutive day of net inflows for BTC -2.82% ETFs. ETH -1.22% is showing outsized strength, likely due to ETF issuers filing their final documents yesterday afternoon, with the ETF launch expected on Tuesday (more on...
