Flows Turn Negative to Start the Week, ENA Token Launches

Apr 2, 2024
Market Update Risk markets are experiencing a broad decline today, largely attributable to the surge in rates following the impressive PMI figures released yesterday. The US 10-year yield briefly reached 4.4%, marking its highest level since November. The crypto market was particularly affected in the early US hours today, with over $400 million in futures liquidations and $BTC moving from nearly $70k to just below $65k. Following suit, the wider crypto market saw significant drops, with $ETH descending to nearly $3200 and $SOL retreating to $176. With interest rates largely influencing current market dynamics, crypto-related equities are underperforming, with some miners down over 10%. There are few crypto assets that are managing to stay in the green today. Meanwhile, in traditional markets, major equity indices are also down substantially, with the QQQ falling by 1.1% and the S&P 500 by 0.9%.Following the expansionary manufacturing PMI figure and the subsequent rise in yields, aggregate ETF flows turned negative for the first time in over a week on Monday, with all funds experiencing a net outflow of approximately $85 million, predominantly due to $305 million in outflows from GBTC. BlackRock's IBIT and Fidelity's FBTC witnessed approximately $166 million and $44 million in i

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 -0.37% rising 2.84% to $67.1k and ETH -1.76% surging 4.86% to $3,090. Liquid staking tokens are building on Ether's outperformance, as LDO -3.40% and PENDLE -5.45% 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 -0.37% is trading just north of $65k, while ETHBTC continues to struggle, with ETH -1.76% 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 -2.03% 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