Crypto Research
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Recent bearish trends continue to persist this afternoon. The SPX has sunk to its lowest level in months in part due to underwhelming home sales and consumer confidence data. Despite this data, rates continue to rise, with the U.S. 30-year yield eyeing the 4.7% mark after an early morning bout of short covering. All market sectors are currently in negative territory, and in the commodities market, oil prices are rebounding...
WEEKLY RECAP This week marked the third consecutive week of total funding over $100 million. This week’s total rose to $136 million compared to last week’s $119 million. A trend has developed of projects beginning to emerge from stealth development and announcing their product updates or new fundraises. Projects may be seeing light at the end of the tunnel of this bear market and think it is the right time...
Today’s video discusses macro and seasonal headwinds, including how the Fed's recent dot plot may impact crypto. We also dove into what may be causing crypto's outperformance during Asian trading hours. For our latest Crypto Strategy note click here. https://vimeo. com/866975601/df9ab00a00? share=copy
RATES SURGE ON HIGHER FOR LONGER As expected, Fed Chair Powell took to the podium yesterday and kept interest rates unchanged. Concurrently, he unveiled the Fed’s new dot plot, which forecasts one more rate hike for this year but two fewer cuts for the next year. This was perceived as more hawkish than anticipated by both traditional and crypto markets. The dot plot and Powell's rhetoric collectively signal a 'higher...
U.S. equities and crypto markets are falling today as investors digest the idea of a higher-for-longer interest-rate future. Following yesterdayâs FOMC meeting, expectations for the 2024 and 2025 federal funds rate sharply increased (see below). The SPX and NDQ are both down over 1% at the time of writing, while BTC (-1.63%) and ETH -2.75% (-1.98%) are showing larger declines. ETHBTC has fallen below 0.06, its lowest level since July 2022....
Equity markets are flat today in anticipation of the Fedâs interest rate decision and revised dot plot announcement this afternoon. BTC is down 0.5% today, continuing to range between $26.9k and $27.4k for the last week. ETH -2.75% is underperforming, down 1.5% in USD, and reaching 14 month lows against BTC. The ETHBTC pair has broken the 0.06 level, trading at 0.59 at writing. This follows notable on-chain transfers from whales...
Major equity indices are trending lower today, while interest rates are on the rise, with the US 10-Year seemingly poised to hit a new YTD high. The DXY started the day strong but has since plateaued, currently sitting flat. In the commodities market, gold, which BTC has directionally tracked quite well this year, is also up. In the crypto market, Bitcoin experienced a morning rally, surging back up to nearly...
Chainlink Rallies on SWIFT Optimism, Senator Warren Gains Additional Support for Crypto Bill
U.S. equity indices are showing modest gains in Mondayâs trading as investors remain focused on Wednesdayâs FOMC meeting in which interest rates are expected to be held at current levels. Crypto markets are rallying as BTC (+2.92%) has risen above $27k, and ETH -2.75% (+2.26%) has rallied to $1,660. Chainlink (LINK 3.89% ) is outperforming today, rising 10.22% amid optimism regarding its partnership with SWIFT to scale tokenized asset adoption. Chainlink leadership spoke...
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 -2.75% (-0.65%) faring slightly better, holding around the low $1,600s. Although many had written off the...
