ETH Outperforming for Second Straight Week, 3iQ Launches Spot SOL ETF
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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 -0.11% and QQQ 0.51% . Chip-adjacent stocks are also performing well, spurred by another earnings beat from NVDA 0.70% , 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 1.34% nearing $62,000 as it works to break through its 50-day moving average, which has provided significant...
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 1.79% continues to lead the market, gaining 1.51% to $3,795 while BTC 1.34% has dropped 2.10% to $67.7k. ETHBTC has risen 3.61%...
CRYPTO MARKET UPDATEBTC 1.34% IS BACK IN THE GREEN TODAY, RECLAIMING $70K FOLLOWING YESTERDAY'S DIP. ETF flows appear to be returning in full force, with another strong day of inflows, capping the largest 5-day period for inflows since mid-March. ETH 1.79% is down slightly on the day, consolidating around $3750 as investors await word from the SEC on ETF approval. ETH CME futures saw outsized volume yesterday as institutional investors showed interest...
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