Robinhood Posts Strong Q2, Coinbase Supports Prediction Markets
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CRYPTO MARKET UPDATE EQUITIES HAVE CONTINUED TO FIND RELIEF AFTER THE BOJ'S COMMENTS ASSURED INVESTORS THAT THEY WON'T CONTINUE RAISING RATES IF MARKETS ARE UNSTABLE. The SPY 0.37% and QQQ 0.52% have both gained over 0.6%, while small-caps are underperforming, with the IWM -0.30% roughly flat. Crypto was gaining with equities this morning but has since turned lower. BTC 0.74% is trading slightly below $56k, while ETH 2.40% has decreased to below $2,400 after on-chain...
CRYPTO MARKET UPDATE GLOBAL MARKETS ARE EXPERIENCING A SELL-OFF AMID THE YEN CARRY TRADE UNWINDING, MIDDLE EAST TENSIONS, AND U.S. RECESSION FEARS. The Japanese Nikkei index fell 12.4%, its worst day since 1987’s Black Monday. U.S. equity futures and crypto followed suit, with the SPY 0.37% and QQQ 0.52% opening down over 4% and Bitcoin and Ethereum falling to lows of about $49k and $2,100. Bitcoin and Ether have since pared losses,...
CRYPTO MARKET UPDATE THIS MORNING'S BIG MARKET MOVER WAS A SIGNIFICANT MISS IN THE JOBS REPORT, WITH NFP COMING IN AT 114K, WELL BELOW MARKET EXPECTATIONS OF 175K, AND THE UNEMPLOYMENT RATE RISING TO 4.3%. This triggered concerns among investors, with some invoking the "Sahm Rule." As a result, yields have naturally fallen, with the 10-year Treasury yield approaching 3.8%. The DXY also took a sharp hit, now hovering just...
CRYPTO MARKET UPDATE RISK ASSETS ARE BROADLY LOWER TODAY, WITH THE SPY 0.37% AND QQQ 0.52% PARING SOME OF THE RAPID GAINS SEEN YESTERDAY FOLLOWING THE FOMC MEETING IN WHICH RATES WERE HELD STEADY, BUT DOVISH COMMENTS SPARKED OPTIMISM, LEADING TO MARKETS PRICING IN THREE RATE CUTS BY YEAR-END. The US10Y has dropped below 4% for the first time since February. Crypto is showing steeper losses, with BTC 0.74% sharply lower to $62.7k...
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