CKB Rallies After BTC Client Release, MicroStrategy Pivots to Bitcoin Development

Feb 13, 2024
Market Update Stock markets are down, and bond yields are up following a January report showing U.S. consumer prices rising unexpectedly. Headline and core CPI saw year-on-year increases of 3.1% and 3.9%, surpassing the forecasted 2.9% and 3.7%. This higher inflation may dampen the anticipation of Federal Reserve rate reductions, with market participants currently foreseeing a 37% likelihood of a cut in May. Yesterday, Bitcoin surpassed the $50,000 mark for the first time since December 2021, although its value slightly declined to $48,600 following the inflation news release. On Monday, $BTC ETF flows quickly reached half of the $1.1 billion inflows CoinShares reported last week. The eight Bitcoin ETFs acquired 12,073 Bitcoins ($590 million), while Grayscale saw a minor reduction of 1,147 Bitcoins ($56 million). Blackrock and Fidelity added 7,497 Bitcoins ($366.5 million) and 3,039 Bitcoins ($148.5 million). Currently, Bitcoin ranks as the world's 10th largest asset by market cap, nearing a $1 trillion valuation. Since October 2023, financial markets have been trending higher, with the S&P index climbing 18% from late October, while Bitcoin, being more volatile, has surged over 60% in the same timeframe, boosting its market cap in comparison to other asset categories. The Nerv

Unlock this page with a FREE 30-Day Trial!

*Free trial available only on a monthly plan

Reports you may have missed

MARKET COMMENTARYU.S. EQUITIES ARE RELATIVELY FLAT AS THEY CONSOLIDATE ABOVE PRIOR ALL-TIME HIGHS. THE SPX IS TRADING AT 5,300, AND THE NDQ IS HOVERING NEAR $18,600, WHILE THE DXY 0.00% (-0.07%) IS SHOWING A SLIGHT DECLINE, TRADING AT $104.4. Crypto assets are showing strength, with BTC -0.17% rising 2.84% to $67.1k and ETH -1.49% surging 4.86% to $3,090. Liquid staking tokens are building on Ether's outperformance, as LDO -2.10% and PENDLE -5.27% have gained 10.11% and 13.43%, respectively. Similarly, layer-2...

CRYPTO MARKET UPDATETODAY, WE ARE SEEING SOME MINOR CONSOLIDATION IN THE CRYPTO MARKET COINCIDING WITH THE SLIGHT BOUNCE IN THE RATES AND DXY 0.00% . BTC -0.17% is trading just north of $65k, while ETHBTC continues to struggle, with ETH -1.49% moving lower for the 5th consecutive day and still trading below the $3k mark. Despite the market consolidation, SOLBTC is still green on the day as SOL -1.89% works to regain the $160 level....

Get invaluable analysis of the market and stocks. Cancel at any time. Start Free Trial

Articles Read 1/1

🎁 Unlock 1 extra article by joining our Community!

You’ve reached your limit of 1 free monthly articles. Please enter your email to unlock 1 more articles.

Already have an account? Sign In