El Salvador Moves 5,689 BTC Into Cold Storage, Avalanche Foundation Discloses Community Coin Investments
The crypto market suffered from a sharp decline early this morning, which saw BTC (-4.48%) fall over 8% to the mid $65,000s before paring losses to $68k. ETH (-5.07%) and altcoins saw similar price action, fueling over $727 million in liquidations over the last 24 hours. Funding rates have been getting frothy, and the drop helped to bring rates to more neutral levels across the board (see below). SOL -1.39% (+3.18%) has still managed to make a new all-time high in market capitalization, exceeding the November 2021 mark of $80.97 billion. Equity indices are falling today, with the SPY and QQQ decreasing 0.60% and 1.10%, respectively, as investors are likely derisking ahead of next weekâs FOMC meeting, given this weekâs economic data signaling some stalling in disinflation. Interestingly, despite drops in Bitcoin and equity indices, COIN (+2.11%) and WGMI (3.85%) are showing relative strength. Bitcoin miners have struggled as of late, but it will be interesting to monitor if this marks a local bottom.
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MARKET UPDATE Crypto is broadly lower today as geopolitical conflict continues to weigh on risk assets, with BTC 1.24% falling to $60k and ETH 0.08% 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 -5.15% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 1.24% climbing back above $61,000 and SOL -0.51% moving above $145, while ETH 0.08% is lagging, trading around $2,400. Among today's outperformers is SUI 1.62% , 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 -0.83% and QQQ 0.19% 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 1.24% briefly dropping below $62k and ETH 0.08% below $2.5k. Among altcoins, SUI 1.62% is showing...
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