Grayscale Withdraws ETH ETF Application, BitMEX Launches Options
The crypto market declined overnight, with BTC -0.11% dropping from $63k to $61k, SOL -4.20% from $150 to $145, and ETH -0.84% 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 -8.51% , the native token of the cross-chain swapping protocol Thorchain, and Ethereum Classic (ETC -3.68% ), 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
All metrics as of 2024-05-09 17:47:22 All Funding rates are in bps Crypto Prices
All prices as of 2024-05-09 17:00:03 Exchange Traded Products (ETPs)
News
|
Reports you may have missed
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 -0.11% falling to $60k and ETH -0.84% approaching the low $2,300s. Aptos (APT -0.95% ) 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 -6.13% is also showing slight gains following...
CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC -0.11% climbing back above $61,000 and SOL -4.20% moving above $145, while ETH -0.84% is lagging, trading around $2,400. Among today's outperformers is SUI -6.03% , 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 0.22% and QQQ 0.08% 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 -0.11% briefly dropping below $62k and ETH -0.84% below $2.5k. Among altcoins, SUI -6.03% is showing...