Crypto Research
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The cryptocurrency market is currently experiencing a downturn, falling 3% overall. Ethereum and select ecosystem projects are bucking the trend, with ETH relatively flat in the last day, trading 0.2% lower at ~$2.6k and hitting a two-month high against Bitcoin as ETHBTC reaches 0.059. Outperformers in the top 100 include ETH NFT marketplace BLUR (+8.7%), layer-two OP (+6.8%), and ETH domain service ENS 2.61% (5.2%). In contrast, BTC is noticeably underperforming,...
At long last, all eleven spot Bitcoin ETF applications have been approved! They all began trading this morning, and trading volumes have been impressive thus far. According to Bloomberg Senior Analyst Eric Balchunas, Grayscale and Blackrock are leading the pack, accounting for $1.7 billion in trading volume out of the $2.3 billion total (not including BITO). Investors will be eyeing ETF inflows, which will be calculated once share counts are...
After receiving comments on their S-1 statements late yesterday, multiple Bitcoin ETF applicants filed amendments this morning in what appears to be the final steps in the process. Valkyrie cofounder Steve McClurg stated in an interview that he believes approvals should be effective tomorrow, with ETF trading beginning on Thursday. BTC (-0.26%) is showing modest declines ahead of the decision while ETH (-2.76%) has declined sharply, causing ETHBTC (-2.50%) to...
Bitcoin continues to slowly chop higher ahead of this week's highly anticipated decision from the SEC regarding the Bitcoin spot ETF. On Friday, issuers submitted their final 19b-4 forms, and this morning, all the S-1 forms were filed, offering a glimpse into the emerging fee war. Bitcoin is currently trading just above $46k. Meanwhile, ETH is up 4%, reclaiming the $2300 level. Following a mild pullback across the altcoin market,...
Markets are responding to various economic data releases, which showed the unemployment rate holding steady at 3.7% vs. 3.8% exp., and U.S. ISM Services PMI coming in at 50.6 vs 52.5 exp. The DXY (-0.25%) initially surged over $103 following the employment data but has dropped to $102.2 following the PMI data release. Equity indices are gaining to end the week, with the SPY and QQQ both rising approximately 0.10%....
BTC is trading near $44k, recovering some of its losses after yesterdayâs leverage flush sent prices down 9% from $45k to a low of $40.8k. ETH is performing in line with BTC, rising 2.3% to ~$2.3k. U.S equities are relatively flat from yesterday, with the S&P gaining 0.1% while the Nasdaq was down 0.12%. Layer-1 tokens SOL 3.30% and AVAX show the most strength among the top 10, gaining 3.9% and...
U.S. equity indices are continuing their slide to start 2024, with the SPY dropping -0.65% and the QQQ falling -0.86%, while the DXY (+1.24%) has pushed up to $102.6. Crypto assets are experiencing significant volatility as BTC (-4.65%) briefly dropped more than 9% to the mid-$40,000s amid fears of the SEC rejecting spot bitcoin ETF applications. Despite most altcoins suffering large losses on the day, ARB 0.11% is showing strength, rising...
The crypto market commenced 2024 on a high note. BTC spearheaded the rally, climbing from just above $42k to nearly $46k, setting a new peak in the ongoing bull market. Despite a slight retracement, Bitcoin's price remains over $45k. ETH, while not matching Bitcoin's pace, has still made considerable bullish strides, now trading around $2,350 after briefly nearing $2,400. ETH's Layer 2 solution, ARB 0.11% , is undergoing consolidation following its ascent...
Risk assets received another shot in the arm today, with core PCE data registering at just 0.06%, well below the 0.20% consensus estimate. This has led to a continuation of the downward trend in the DXY. Both the SPX and QQQ are up on the day, and gold is edging closer to new YTD highs. In crypto markets, there's been a significant rotation into ETH L2s this morning, especially OP...
3AC Creditors May Receive 46% Recovery Rate, PancakeSwap Proposes 40% Supply Reduction
U.S. equity indices are rising today after yesterdayâs late afternoon sell-off. The SPY and QQQ are both up over 0.70% following the Q3 GDP report showing 4.9% growth vs. 5.2% expected, moving the probability of a rate cut in March to 72.7%. Crypto markets are mixed, with BTC (-0.22%) showing modest declines while ETH is up approximately 1% on the day. SOL 3.30% (+7.74%) is outperforming today as lately DeFi activity...
The âSanta Clause rallyâ is in full effect within equity markets, as the QQQ (+0.08%) has made a new all-time high, and the SPY (+0.07%) is less than 1% away from doing the same. Crypto markets are joining the fun, with BTC (+3.90%) rising to just under $44k and ETH (+2.99%) trading near $2,350. Bitcoin layer-2, Stacks (STX -0.30% ), is outperforming today, rising over 26% amid Bitcoin monthly transactions reaching an...