Crypto Research
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OUTLOOK OVERVIEW Thank you to everyone who joined our annual outlook call this week. We were fortunate to have a lot of success last year in helping our clients and subscribers navigate the crypto market and we look forward to leveling up again this year. For those who missed the outlook, the replay is now available, along with the deck, but a quick summary of our outlook is below.Big Takeaway:...
BTC continues to drift lower, falling 2.6% over the last day to $41.4k. Bitcoin has dropped by up to 15% after peaking the same day as the highly anticipated ETF listing. This decline is partly attributed to withdrawals from Grayscale's Bitcoin Trust and miner selling. The trading volume for spot bitcoin ETFs reached almost $2.2 billion yesterday, a slight increase from Tuesday's $1.8 billion but significantly lower than the $3...
Dencun Upgrade Pushed to Goerli Testnet, Core Scientific Approved to Emerge from Chapter 11
U.S. equity indices are declining today after retail sales data spiked (0.6% MoM vs. 0.4% exp.), and the DXY (+0.18%) continues to show strength above $103. The SPY and QQQ have fallen 0.74% and 1.02%, respectively. Crypto markets are performing similarly, with BTC (-1.86%) trading around $42k and ETH (-2.30%) holding near $2,500. Render (RNDR) and Chainlink (LINK -4.44% ) are two of the top performers today, potentially attributable to protocol-specific catalysts....
Equities are falling while rates gain after comments from Fed Governor Waller suggested that central bank policy will ease slower than the market is anticipating. The 10-year Treasury yield jumped to 4.07% while the dollar index gained 0.7% to reach 103.4. BTC is up 1% today, stabilizing at $43k after volatile price action from last weekâs spot ETF launches, which saw it rally to $49k only to fall 15% to...
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 -0.04% (5.2%). In contrast, BTC is noticeably underperforming,...
INITIAL THOUGHTS ON ETF LAUNCHES The past week has marked a pivotal moment in the evolution of the crypto industry, a testament to the remarkable journey of an asset class that emerged from a distrubuted community of open source software developers just 15 years ago. This was evidenced by the successful launch of all 11 eligible Bitcoin ETFs on Thursday morning. Assessing the success of an ETF launch is a...
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...
In today's Crypto Comments video, we discuss the final steps in the ongoing Bitcoin ETF process, the possibility of trading beginning this week, and the market implications going forward. Please note that today's video was recorded prior to the SEC's tweet falsely announcing the approval of all ETF applications. https://vimeo. com/901315295/cc12590e08? share=copy
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...