VanEck Files for Spot SOL ETF, Miners Consolidate
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CRYPTO MARKET UPDATE Crypto began the final full week of September trading—historically the worst time of the year for the asset class—with a positive move higher. BTC -1.59% briefly pushed above $64K during Sunday's session, attempting to break through its 200-day moving average. Meanwhile, ETH 2.83% has quietly rallied 10% against BTC -1.59% over the past five days, now trading above $2,660, while SOL 0.30% has retreated to $144 after reaching $152 on Friday....
MARKET UPDATE Yesterday’s FOMC meeting resulted in the Federal Reserve reducing interest rates by 50 bps, and Fed Chair Powell striking an optimistic tone about the state of the U.S. economy. Risk assets are rallying today, with crypto leading the charge. BTC -1.59% has gained to $63.7k and ETH 2.83% is approaching $2,500. Altcoins are seeing outsized rallies, with TIA 24.73% and DYM 9.21% outperforming, with both gaining over 14% today. APT 3.87% has similarly...
MARKET UPDATE Crypto has gained sharply ahead of tomorrow’s FOMC meeting, at which the Fed is expected to begin its easing cycle. There is still uncertainty on the magnitude of the first rate cut, with markets pricing a 61% probability of 50bps as of this morning. BTC -1.59% has risen from $58k to $61k and ETH 2.83% has risen from the high $2,200s to $2,370. SUI -1.41% is outperforming today following news that...
CRYPTO MARKET UPDATE The most notable market development over the past 24 hours has been the sharp increase in rate cut probabilities for next week’s FOMC meeting. After falling to just a 14% likelihood of a 50bps cut, the odds jumped to over 40% in after-hours trading following a large trade betting on two cuts. This shift may be linked to the optimism around the potential for two cuts conveyed...
