Crypto Research
961 Results
Microstrategy Proposes $500 Million Convertible Note Offering, Terraform Labs Dissolving after $4.47 Billion Settlement
CRYPTO MARKET UPDATE THIS MORNING’S PPI DATA CONTINUES THE RECENT STREAK OF SOFTER INFLATIONARY DATA, WITH THE MAY MOM READING COMING IN AT -0.2% VERSUS +0.1% EXPECTED. Rates have continued to roll over, with the US10Y dropping to 4.25%. Despite the positive data, crypto is continuing to show weakness. BTC -1.48% has fallen back below $67k and ETH -0.92% below $3,500, while altcoins are showing more pronounced losses. The Open Network (TON 5.09% ),...
CRYPTO MARKET UPDATE MAY CPI DATA WAS SOFT ACROSS THE BOARD, WITH HEADLINE INFLATION COMING IN AT 0.0% MOM VS. 0.1% EXPECTED AND MOM CORE INFLATION AT 0.2% VS. 0.3% EXPECTED. The data has fueled a significant decline in rates and the dollar, erasing the gains following Friday’s NFP data. Markets have begun pricing a higher likelihood of a September rate cut, with futures implying a 61.3% chance of a...
CRYPTO MARKET UPDATE Despite rates moving lower today, the DXY is surging higher due to weak economic data from Europe. This is a major driver behind the move lower in crypto, with BTC -1.48% breaking below $67k, ETH -0.92% finding support around $3500, and SOL 3.82% hovering near $152 after bouncing off $150 this morning. Investors are treading carefully ahead of tomorrow's CPI and FOMC announcements, where headline inflation is expected at 3.4%...
Bitfarms Approves Potential Issuance to Deter Riot’s Takeover, Fidelity International Tokenizes MMF with Onyx Digital Assets
MARKET UPDATE EQUITIES ARE GAINING TO START THE WEEK, WITH THE ^SPX 0.54% RISING ABOVE $5,350 AND THE NDQ ABOVE $19,060, AS THE MARKET PREPARES FOR AN EVENTFUL MACROECONOMIC WEEK. May CPI data and a FOMC meeting are slated for Wednesday, followed by PPI on Thursday and consumer sentiment data on Friday. Rates spiked aggressively on Friday after higher-than-expected non-farm payrolls, but a soft CPI report could result in a dovish...
CRYPTO MARKET UPDATE RATES MOVED HIGHER ON A HOTTER-THAN-EXPECTED NFP NUMBER, WITH A TOTAL OF 272K JOBS VERSUS THE FORECASTED 185K AND WELL ABOVE LAST MONTH'S 165K. However, unemployment rose to 4% from 3.9%, slightly above the expected 3.9%. The DXY increased to 104.8 from just above 104.1, and the US 10Y moved back above 4.4%. Major equity indices are higher after selling off premarket, and crypto appears to be...
MARKET UPDATE EQUITIES ARE SHOWING MODEST DECLINES TODAY AFTER REACHING NEW ALL-TIME HIGHS YESTERDAY. The SPY 0.54% and QQQ 0.97% have declined approximately 0.20%, while rates are finding some relief despite jobless claims coming in higher than expected and Q1 unit labor costs coming in at 4.0% versus the estimated 4.9%. Investors will be watching tomorrow's non-farm payrolls report to provide further direction of yields. The crypto market is trading in line...
CRYPTO MARKET UPDATE RISK ASSETS ARE EXPERIENCING A BROAD RALLY TODAY, SUPPORTED BY RELATIVELY CONSTRUCTIVE MACRO DATA. The significant data point released today was the ISM Services PMI, which came in at 53.8, an expansionary figure above the expected 50.8, and well above the prior month's 49.4. Importantly, prices paid came in at 58.1, below the expected 59, which is a positive sign from an inflation perspective. As expected, the...
MARKET UPDATE U.S. TREASURY YIELDS CONTINUE TO ROLL OVER FOLLOWING THIS MORNING’S JOLTS REPORT SHOWING 8.059 MILLION JOB OPENINGS VERSUS 8.35 MILLION EXPECTED. Yields are lower across the curve, with the US10Y decreasing 1.12% to 4.34%. Equities are declining today, with the SPY 0.54% and QQQ 0.97% both trading approximately 0.40% lower, while the IWM is showing relative underperformance despite a decrease in rates. In contrast, crypto assets are responding positively to...
CRYPTO MARKET UPDATE BTC -1.48% HAS RETRACED A PORTION OF ITS EARLY MORNING GAINS BUT REMAINS DECISIVELY GREEN ON THE DAY, NOW TRADING BACK ABOVE $69K. ETH -0.92% and SOL 3.82% are lagging, with ETH -0.92% stalling around $3,780 and SOL 3.82% trading just under $164. Equities are mixed after starting the day hot, with only three sectors currently positive. This comes amidst a constructive rates backdrop, with the US 10Y moving sharply lower, now...
MARKET UPDATE APRIL PCE DATA MOSTLY MET EXPECTATIONS WITH A SLIGHTLY COOL READING IN CORE MOM DATA (0.2% VS. 0.3% EXP.), CAUSING RATES TO ROLL OVER. The US10Y has declined 1.02% to 4.51%, and the DXY has decreased 0.20%. Despite rates and the dollar rolling over, risk assets are selling off in the last trading day of the month. The SPY 0.54% has fallen to $520 and the QQQ 0.97% has dropped...
CRYPTO MARKET UPDATE YESTERDAY, WE SENT OUT A NOTE DISCUSSING HOW FAVORABLE INFLATION AND JOBS DATA WOULD BE KEY TO INCREASING CRYPTO INVESTOR CONFIDENCE. Today, we are seeing some of that with the Coinbase premium rising in the morning hours following favorable PCE revisions and jobless claims data. Rates are moving lower across the entire curve, and the DXY N/A% is sharply lower, back below 105. Most sectors are in the...
MARKET UPDATE U.S. TREASURY YIELDS AND THE DXY N/A% CONTINUE PUSHING UPWARDS, PUTTING DOWNWARD PRESSURE ON RISK ASSETS. THE SPY 0.54% HAS DECLINED 0.53%, BREAKING BELOW $530, AND THE QQQ 0.97% HAS DECREASED 0.42% TO $458. Crypto assets are showing more pronounced losses, with BTC -1.48% (-1.42%) trading in the low $67,000s and ETH -0.92% (-2.29%) hovering near $3,750. Blackrock’s IBIT saw inflows of $102.5 million yesterday, bringing its total AUM to just under $20...
