Market Update

After a week of economic data releases supporting a potential reacceleration of inflation, US Treasury yields are rising across the board, while US equity markets are declining. The SPY and QQQ have dropped 1.26% and 1.82%, respectively, at the time of writing. Crypto markets are performing similarly, with BTC (-0.94%) trading at $26.3k and ETH (-0.65%) faring slightly better, holding around the low $1,600s. Although many had written off the...

U.S Equities are flat while BTC has jumped back above $26k amid a mixed CPI report. August CPI increased 0.6% MoM, in line with expectations. The Fed’s preferred core CPI measure (ex. food & energy) increased 0.3% monthly, above estimates of 0.2%. The release has not changed CME market expectations of a pause at next week’s FOMC, currently at 97% at writing. Investors will be keen to hear whether further...

The U.S. Equity market is declining today as investors await the August CPI data, which is set to be released tomorrow at 8:30 AM EST. The S&P 500 has fallen 0.21%, while the Nasdaq 100 is faring slightly worse, dropping 0.67%. The crypto market is showing strength today, with BTC (+3.75%) squeezing back above $26k and ETH (3.21%) rising above $1,600. As Bitcoin moves higher and optimism around a spot...

BTC continues to slide after trending lower over the weekend, reaching levels not seen since mid-June at $25.1k. Notably, the daily time frame is nearing a bearish “death cross,” which occurs when the 50-day simple moving average (SMA) crosses under the longer-term 200-day SMA. While not a surefire predictor of an impending bear market, it indicates a clear shift in trend, with investors showing caution in a seasonally bearish period....

Today has been another interesting day of price action across crypto and crypto-equities markets. BTC has mostly undone its previous rally, now fluctuating just below the $26k mark after peaking at $26.5k yesterday. ETH mirrors this trend, currently trading around $1,630. Altcoins have generally followed suit, albeit with a less significant upswing initially. Notably, SNX and DYDX are today's most significant underperformers, likely due to recent CFTC settlements against DeFi...

The DXY is continuing its rise, holding above $105, as initial jobless claims came in softer than expected (216k actual vs. 234k expected), reigniting higher-for-longer fears. Equity markets are responding negatively, with the SPX (-0.25%) falling to $4,455 and the NDQ (-0.68%) dropping to $15,250. Crypto markets are holding slightly stronger, potentially responding to Ark Invest filing for a spot Ether ETF (more below). BTC (+0.70%) has risen to $25.9k...

Markets are falling today in response to higher-than-expected non-manufacturing PMI data (54.5 actual vs. 52.5 expected). The S&P 500 and Nasdaq 100 have both dropped over 1% while the DXY (+0.19%) continues its rise, briefly surpassing $105, the highest level since March. BTC and ETH are following equity markets, both falling approximately 1.10% at the time of writing. Synthetix Network (SNX), a defi liquidity layer, is one of the top weekly performers,...

In the first trading day of September, equity markets are relatively flat following more economic data releases showing the U.S. unemployment rate rising to 3.8% (3.5% expected), with the labor participation rate increasing to 62.8% (62.6% expected). Crypto is reacting negatively to the SEC delaying a slew of spot Bitcoin ETF applications, including Blackrock and Fidelity’s. BTC (-0.24%) has fallen back below $26k and ETH (-0.47%) is ranging in the...

In July, the core personal consumption expenditures (PCE) index increased by 0.2% month-over-month and 4.2% year-over-year, meeting economists' projections. This led to a significant pullback in rates and a bond market rally. Surprisingly, the Dollar Index (DXY) also surged, likely exerting downward pressure on cryptoasset prices. Amid these market dynamics, major equity indices experienced slight gains. BTC retraced its earlier post-Grayscale rally gains, a trend also seen in Ethereum and...