The crypto market declined overnight, with BTC 4.13% dropping from $63k to $61k, SOL 5.86% from $150 to $145, and ETH 5.88% dipping below the $3k mark once again. The likely cause of the drawdown was upward pressure on the DXY N/A% and a lack of follow-through in flows. Among the few outperformers of the day were RUNE 3.39% , the native token of the cross-chain swapping protocol Thorchain, and Ethereum Classic (ETC 2.11% ), possibly driven by traders speculating on the SEC chair’s critical comments toward ETH and its PoS mechanism. Major equity indices opened lower but are nearing flat performance for the day. Adding to the relative USD strength today was the interest rate cut by the Swedish central bank, accompanied by some reversion to the mean from the JPY. We will have to wait until the CPI data next week to see if we follow in Sweden’s footsteps at some point this calendar year. Meanwhile, rates are rising at the long end of the curve, with the 10Y and 30Y each up 22 bps ahead of what should be an interesting 10Y note auction this afternoon and a 30Y auction tomorrow.
Daily Important Metrics
Crypto Size
Bullish signal is tied to the crypto market growing
Market cap 2.26T
$-26.2B(-1.15%)
BTC
Dominance
53.15
%
(-0.80%)
Stablecoins
Increase in circulating stablecoins is a Bullish
signal
In Circulation +$111B
(-0.01%)
In
Exchanges
+$18B
(0.52%)
BTC Metrics
A decrease in Bitcoin on exchanges is bullish,
indicates
investors are moving coins to cold storage
# BTC
Exchanges +$2.3M
(-0.04%)
Funding Rates
Positive funding rates indicate traders are Bullish
Aggregate
+0.6499(0.1980)
Binance
+0.9984(0.9467)
Bitfinex
-0.0120(0.0072)
Bitmex
+0.6258(0.1420)
ByBit
+1.0000(0.0000)
Deribit
+0.1659(0.1057)
Huobi
+1.0000(1.0000)
Kraken
+0.8716(0.5862)
Mean
+0.6499(0.1980)
OKex
+0.3983(0.6272)
Sentiment
BMI : 42
(-2.38%)
Futures
A positive spread between Futures
Prices and
Spot Prices is Bullish
CME
Price
$61,400(-1.98%)
Spot
Basis
+$540(0.89%)
Volume
604,691(1.65%)
Open
Interest
267,733(0.11%)
Options all exchanges
Higher open interest change in a bull market is
bullish for
the sector
The positive momentum seen in the first quarter has continued, with the platform taking in a record $5 billion in deposits in April, the analysts said.
Taiwan is bolstering its anti-money laundering regulations through amendments to its Money Laundering Control Act, as the island aligns its laws with international standards set by the Asia/Pacific Group on Money Laundering (APG). The key focus of the amendments is to bring virtual assets and virtual asset service providers firmly under the oversight of Taiwan’s […]
The post Taiwan revises money laundering act to include digital assets appeared first on CryptoSlate.
Core Scientific announced a significant recovery in its financial performance for the first quarter of 2024, reporting a net income of $210.7 million, a stark contrast to the net loss of $0.4 million from the same period last year, driven by an increase in Bitcoin mining and hosting services. The company mined 2,825 bitcoins in […]
[PRESS RELEASE – Ljubljana, Slovenia, May 9th, 2024] Blocksquare, a tokenization infrastructure provider for real estate, is delighted to announce that its native token BST has been added to the fiat checkout system of global crypto on- and off-ramp Banxa. The integration will enhance the accessibility of BST, enabling users from around the world to […]
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