Dymension CEO Predicts Rollapp Summer, AltLayer Airdrop
The S&P is extending its weekly gains bolstered by positive economic data, marking a record high for the fifth day in a row, a streak last seen in November 2021. Encouraging economic indicators included December’s core personal consumption expenditures index, meeting monthly forecasts but slightly below yearly expectations. This followed Thursday’s GDP data showing stronger-than-expected growth in Q4, boosting investor confidence. Yesterday, U.S. spot Bitcoin ETFs saw the largest single-day new net outflows (-$158m), led by significant withdrawals from Grayscale’s GBTC. Data from Bloomberg Intelligence’s James Seyffart shows that while ten spot Bitcoin ETFs initially attracted inflows, they were offset by a $429 million net outflow from GBTC. The total Bitcoin holdings across all spot ETFs dropped to around 649,000 BTC, a decrease of over 11,000 BTC from the previous week. Despite this, BlackRock’s IBIT and Fidelity’s FBTC ETFs are seeing positive growth, each holding over 40,000 BTC and nearing $2 billion in assets under management. BTC is pulling the market higher today, rising 5.8% in the last day to $41.9k. While GBTC selling has dragged the market lower, we have noted that the volume of outflows has begun to trend lower, potentially signaling a shift to net positive flows with less impact from GBTC selling.
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 -1.49% falling to $60k and ETH -5.78% 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 -9.74% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -1.49% climbing back above $61,000 and SOL -6.35% moving above $145, while ETH -5.78% is lagging, trading around $2,400. Among today's outperformers is SUI -11.17% , 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 0.11% and QQQ 0.23% 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 -1.49% briefly dropping below $62k and ETH -5.78% below $2.5k. Among altcoins, SUI -11.17% 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 544d9c-b58ebf-63067a-96a529-b128c8
Already have an account? Sign In 544d9c-b58ebf-63067a-96a529-b128c8