More Positive Regulatory Developments, NEAR Leans into AI
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CRYPTO MARKET UPDATE In stark contrast to the recent BLS job number revisions, the government revised its Q2 GDP estimate higher this morning to 3%, leading to a jump in rates and the DXY. However, this data also apparently boosted confidence in the soft landing trade, as rate-sensitive indices like IWM are outpacing ^SPX 0.43% and QQQ 0.27% . Chip-adjacent stocks are also performing well, spurred by another earnings beat from NVDA -3.18% , benefiting...
CRYPTO MARKET UPDATE Risk assets are surging following Fed Chair Jerome Powell's dovish pivot at Jackson Hole, signaling a shift in policy aimed at addressing potential weaknesses in the job market through rate cuts. The DXY has dropped significantly, reaching a new year-to-date low and approaching the 100 mark. Cryptoassets are rallying, with BTC -0.78% nearing $62,000 as it works to break through its 50-day moving average, which has provided significant...
CRYPTO MARKET UPDATE TODAY'S FLASH S&P PMIS SURPRISED TO THE UPSIDE, LEADING TO A BRIEF UPTICK IN RATES, WHICH HAS SINCE LARGELY RECEDED. Despite this, the DXY continues its march back toward 106, nearly reaching that level this morning. Naturally, crypto continues to display relative weakness, with BTC -0.78% dropping below $64k, ETH 2.01% below $3500, and SOL 0.40% briefly dipping below $130, now trading just above that level. ETHBTC is showing some...
MARKET COMMENTARYCRYPTO INVESTORS ARE ANXIOUSLY WAITING FOR A DECISION ON AN ETHEREUM ETF APPROVAL AHEAD OF TODAY’S FIRST FINAL DEADLINE. Congress wrote a letter to Gary Gensler yesterday urging him to maintain a consistent and equitable approach for the Ethereum application, as well as for “other digital asset-backed ETPs.” ETH 2.01% continues to lead the market, gaining 1.51% to $3,795 while BTC -0.78% has dropped 2.10% to $67.7k. ETHBTC has risen 3.61%...
