Spot ETH ETFs to Launch in Hong Kong, EigenLayer Launches Actively Validated Services
The subpar consumer sentiment numbers released today likely did not help asset prices, but geopolitics seems to be in the driver’s seat today, with rumors of escalation in the Middle East pushing rates lower while driving the DXY and gold higher. Most risk assets, including crypto, have sold off based on these reports. BTC has retreated from nearly $72k in the overnight hours to $69.5k, while ETH has dipped below $3500, and SOL -1.87% is trading around $167. Altcoins have pulled back more significantly, with very few in the top 100 showing gains today. Despite this, flows into ETFs turned positive over the past two days, a positive sign following a hot CPI print, but there likely were some panic outflows in the morning hours, indicated by the pronounced discount on Coinbase following the US market open. This discount is recovering, and prices seem to be stabilizing.
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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 -0.82% falling to $60k and ETH -1.91% approaching the low $2,300s. Aptos (APT -3.45% ) 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 -5.44% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.82% climbing back above $61,000 and SOL -3.25% moving above $145, while ETH -1.91% is lagging, trading around $2,400. Among today's outperformers is SUI -5.42% , 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 0.19% 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 -0.82% briefly dropping below $62k and ETH -1.91% below $2.5k. Among altcoins, SUI -5.42% is showing...
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