Crypto Research
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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%....
QUICK RECAP First and foremost, we would like to extend a Happy New Year to all our clients and subscribers. The past year was indeed eventful, marked by banking crises, significant court victories, and BlackRock's foray into the sector – truly a remarkable journey. Our Core Strategy, though it lagged behind the King, performed well. This was particularly supported by the strong performance of our altcoin basket in Q4. We...
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 -5.67% 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 N/A% 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 N/A% , is undergoing consolidation following its ascent...
WEEKLY RECAP After multiple weeks of total funding near $300 million, things have cooled slightly, with this week’s total falling to $155 million across 19 deals. Metaverse & Gaming was the leading category due to a $100 million fundraise by MapleStory Universe, our Deal of the Week. Infrastructure was the most popular category from a deal count perspective, tallying eight deals totaling $14 million. Seed rounds were the most common...
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...
LET IT FLOW As we approach the holiday weekend and the final week of the year, which is typically marked by lower liquidity due to many stepping away from their desks, one might expect to see a dialing back of risk and a slowdown in trading volumes. However, contrary to these expectations, most data suggest animal spirits seem poised for a rally through the New Year. CME futures data, the...
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 -5.67% (+7.74%) is outperforming today as lately DeFi activity...