Marathon Announces Strong Earnings and Bitcoin L2, Gemini Comes to Settlement Agreement

The January PCE report this morning was largely in line with expectations, alleviating fears of a reacceleration of inflation. U.S. equities responded positively to the data, with SPY gaining 0.17% and the QQQ rising 0.42%. Crypto markets are mixed, with BTC declining 0.78% to $62k and ETH rising 1.45%. Yesterday marked the largest day of net inflows into Bitcoin ETFs since the launch, totaling $673 million and bringing cumulative AUM to an impressive $7.4 billion. Altcoins are seeing some buying pressure as BTC.D (-1.41%) is retreating. SOL and BONK are two of the strongest performers today, gaining 9.32% and 25.29%, respectively, potentially indicating an upcoming period of Solana ecosystem outperformance similar to Q4 2023.