Bitwise Files for XRP ETF, Crypto Prices Bounce as Oil and Gold Retrace
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MARKET UPDATE Markets are selling off in the first day of Q4, fueled by geopolitical fears as tensions rise in the mid-east. The SPY 0.24% and QQQ 0.36% have dropped 1.14% and 1.92%, respectively, while the VIX has surged over 17%. XAU and DXY are gaining as investors move towards safe-havens. Crypto assets have also sold off, with BTC briefly dropping below $62k and ETH below $2.5k. Among altcoins, SUI is showing...
MARKET UPDATE August PCE data came in slightly below expectations, with Core MoM PCE reading 0.1% vs. 0.2% expected, reaffirming that inflation is receding steadily. Debates over the size of the Fed’s next rate cut have already begun, with odds for 50bps increasing slightly after the PCE data, rising to 52.1% compared to 49.3% yesterday. Stocks are relatively flat to end the week, with the SPY 0.24% gaining 0.14% and the...
MARKET UPDATE The PBoC has announced a fresh package of economic stimulus, weighing a $142 billion injection into top domestic banks and pledging to stabilize the housing and stock markets. Domestically, durable goods data came in better than expected, and GDP met expectations, providing more confidence in the stability of the U.S. economy. Crypto is responding positively to both developments, as BTC has gained to $65.3k and ETH to $2,650,...
MARKET UPDATE Equities are gaining following the People’s Bank of China announcing the largest stimulus package since the pandemic. China-related names are surging, with FXI 7.40% and KWEB 6.49% gaining more than 8%. The SPY 0.24% and QQQ 0.36% have gained 0.22% and 0.67%, respectively. Crypto is mixed, with altcoins outperforming the majors. BTC has declined modestly to $63k, and ETH is trading just above $2,600. TIA has been one of the top gainers...
