Crypto Research

U.S. equities rose following yesterday’s FOMC meeting, where Chair Powell struck a dovish tone and the committee's dot-plot showed no meaningful revisions to rate cut expectations this year. The SPY (+0.33%) and QQQ (+0.44%) closed at record highs, surpassing $520.48 and $445.61, respectively. Crypto assets displayed a strong bounce following Powell’s comments yesterday but have since pared some gains. $BTC (-4.08%) is trading at approximately $65.1k and $ETH (-2.27%) is...

The Federal Reserve is set to announce its interest rate decision at 2 PM EST today. The key thing to watch will be the committee’s “dot plot” which shows their longer-term expectations for interest rates. Markets are pricing 75 bps of rate cuts this year, which aligns with the committee’s previous dot plot, so any deviations could impact markets. Fear surrounding today’s FOMC meeting may have contributed to Bitcoin ETFs...

Crypto markets are experiencing sharp declines, with $BTC (-4.94%) falling to $64k and $ETH (-6.01%) dropping to $3,310. Yesterday represented the first day of net outflows from Bitcoin ETFs since March 1st, with total outflows of $154.3 million. GBTC saw daily outflows of $642.5 million, setting a new daily record previously set on January 22nd. The Bank of Japan moved to end its negative interest rate regime, raising target policy...

The weekend saw choppy price action, following the significant leverage washout in the perps market on Thursday evening. $BTC revisited the $65k level, marking a roughly 12% decrease from the previous week's high of $74k. Since then, its price has partially recovered, currently trading just above $67k. $ETH experienced a steeper decline and a less vigorous recovery, dropping from last week's high of $4100 to $3400, and is now trading...

The crypto market suffered from a sharp decline early this morning, which saw $BTC (-4.48%) fall over 8% to the mid $65,000s before paring losses to $68k. $ETH (-5.07%) and altcoins saw similar price action, fueling over $727 million in liquidations over the last 24 hours. Funding rates have been getting frothy, and the drop helped to bring rates to more neutral levels across the board (see below). $SOL (+3.18%)...

A deluge of economic data was released this morning, including higher-than-expected PPI data, sparking a move higher in the DXY (+0.47%) and Treasury Rates. U.S. equities are showing modest declines, with the SPY decreasing 0.15% and the QQQ declining 0.07%. Crypto assets are faring worse, with $BTC (-1.60%) falling below $72k and $ETH (-2.79%) dropping to $3,900 despite yesterday’s successful Dencun upgrade. Although the majors are showing losses, there are still...

$BTC surged in the overnight hours, nearing $74k, following a day of record inflows into spot ETF products. It's now trading around $72.5k. $ETH is showing relative weakness this morning, dipping just below $4k. This may be due to capital rotating into Layer 2 solutions and other Ethereum-related assets following the successful Denunc upgrade. Ethereum-adjacent assets such as $AAVE, $SYN, $MATIC, $MKR, and $ARB, are outperforming thus far today. $SOL...

The highly anticipated February CPI report was released this morning, showing slightly higher than expected readings. Core CPI came in at 3.8% YoY vs. 3.7% expected and 0.4% MoM vs. 0.3% expected. Over 60% of the total monthly increase can be attributed to shelter and energy prices. Investors were prepared for worse, as the odds of a June rate cut increased slightly following the data release, helping to spur a...

Bitcoin broke out above $70k during the overnight hours, now floating above $72k, marking another new ATH. This price action was closely mirrored by $ETH's resurgence above $4k, currently trading around $4050. $AVAX is outperforming on the day, following the announcement that South Korean game publisher Nexon Group will transition its popular MMO RPG, MapleStory, onto the Avalanche network as MapleStory Universe. Meanwhile, $NEAR also continues to outperform, likely fueled...

The day commenced with a flurry of activity, beginning with an NFP figure that exceeded expectations, juxtaposed with an unemployment rate that also surpassed forecasts. This combination pushed short rates lower and led the fed funds futures market to anticipate a full rate cut by the June FOMC meeting. The DXY dropped to a low of 102.4 before making a comeback. In crypto, the day started with significant momentum as...

In a volatile day, $BTC (-4.51%) has made a new all-time high, briefly surpassing $69k before retracing to the low $65k range. $ETH (+1.55%) is showing strength, trading around $3.7k as attention may shift towards Ethereum and related names ahead of the Dencun upgrade next week. Layer-2 tokens support that notion, as $OP and $ARB are outperforming today, gaining 13.46% and 4.44%, respectively. Some of the meme-mania has subsided, with...