Consumer Sentiment Data Shakes Market, Eigen Claims Go Live

Name: FS Insight
Price range: $$$

May 10, 2024

Author

Sean Farrell ^AC

AKT 2.07% BTC 3.44% ETH 7.56% FTM 3.47% RNDR -3.51% SOL 7.44% MARA +7.16% QQQ +0.22% ^SPX

Market Update A pretty sizeable miss in today's consumer sentiment survey reversed most of the gains experienced in the crypto market over the past 24 hours. Consumer sentiment came in at 67.4, well below market expectations of 77.2. 1Y inflation expectations came in at 3.5%, well above the market forecast of 3.2%. We saw the #DXY turn sharply higher on the move, and most risk assets sold off. #BTC fell from $63k down to retest $60k, while #ETH and #SOL followed similar paths, moving down to $2,900 and $146, respectively. Most alts have moved lower since the sentiment figures were released, but a few of yesterday's outperformers like #AKT and #RNDR have preserved some gains. We noted in today's flash insight that the Coinbase discount had turned to a premium, a good sign that demand is heating up, but this has since returned to discount territory. Equities were not exempt from the selloff, but were less affected, with the $SPX and $QQQ both essentially flat on the day. Rates are broadly higher, with the US 10-Year yield moving back to 4.5%. Investors are gearing up for what will be a big week of macro data next week, with the most important release being the April Consumer Price Index (CPI) report, a much more important piece of data than survey results.EigenLayer's native token

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Market Update

By Sean Farrell • Oct 2, 2024

CRYPTO MARKET UPDATE Crypto prices have rebounded slightly following yesterday's sharp selloff, with BTC 3.44% climbing back above $61,000 and SOL 7.44% moving above $145, while ETH 7.56% is lagging, trading around $2,400. Among today's outperformers is SUI -2.55% , 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...