Crypto Research

Crypto and traditional markets began to recover from their pullback yesterday. BTC and ETH are up 0.97% and 1.52%, respectively, while SPX and NDQ are up 0.15% and 0.57%. Outperformers today include INJ, up 12.67%, and LDO, up 14.0%. Lido's rise comes after the protocol unveiled its upgrade plans for v2 ahead of Ethereum's Shanghai upgrade. There are two major focuses of this upgrade: an introduction of a new staking router and...

Equities declined Monday morning, likely prompted by caution over increased hawkishness from the Fed following the strong US jobs report on Friday. The ^SPX 0.60%  is down 0.4%, while the NDQ is trading 0.5% lower. Bond yields increased, with the 10-year yield rising by 9 BPS and the 2-year adding 14 BPS. The DXY (+0.5%) and the VIX (+6.0%) have also ticked higher on the day. Meanwhile, the crypto market is...

Markets opened lower before rebounding on news of accelerated hiring in January (517k jobs added) and the lowest unemployment rate in 53 years at 3.4%. Despite strong job gains, wage growth continued to soften last month (+4.4% YoY). As reflected by markets, these conflicting data points could accommodate a soft landing scenario. ^SPX 0.60%  (-0.1%) and QQQ 0.53%  (-0.1%) are trading relatively flat at time of writing, while DXY and US20Y are up by...

Crypto and traditional markets consolidated ahead of today's FOMC meeting at 2 pm EST. The market is currently pricing in a 98.7% chance of a 25 bps rate hike according to CME Group's Fed Watch tool. BTC and ETH are down 0.57% and 0.70%, respectively, and SPX and NDQ are down 0.57% and 0.32%. Despite the broader market consolidating, certain altcoins have continued to rally. ATOM -10.75%  is up 6.55% and...

The SPY 0.60%  (+0.70%) and QQQ 0.53%  (+0.82%) are rallying today following the latest Employment Cost Index (ECI) release, which showed continuing deceleration of wage growth, reducing the risk of a wage-price spiral that could keep inflation persistently higher. Crypto markets are following suit, with BTC rising 1.30% and ETH rising 1.65%, recouping some of yesterday’s losses. Yesterday, the Financial Times reported that Twitter has begun applying for various regulatory licenses across...

The ^SPX 0.60%  (-0.8%) and NDQ (-1.3%) slid on Monday morning as investors prepare for a stacked week of earnings and critical events on the economic calendar. Over 20% of the S&P 500 companies will report their earnings this week, including General Motors and McDonald's on Tuesday, followed by tech companies like Amazon, Apple, Alphabet, and Meta Platforms later in the week. Meanwhile, the FOMC will hold its meeting on Tuesday...

Markets are reacting favorably to signs of cooling inflation. This morning, the Commerce Department announced spending by US households decreased by 0.2% MoM, with PCE (Fed's current preferred gauge of inflation) rising 5% in December (vs. 5.5% in November). December Core PCE rose 4.4% (vs. 4.7% in November), growing at its slowest pace since October '21. ^SPX 0.60%  and NDAQ 2.19%  are trading 0.3% and 0.7% higher, while QQQ 0.53%  is 0.8% higher...

After a bit of a correction last night, crypto markets remain largely flat on the day. BTC is down 0.29% and ETH is down 0.72%. Traditional markets have pulled back a bit as well, with SPX down 1.34% and NDQ down 1.88%. An interesting development we've seen over the past couple of weeks is a 12.4% pullback in the ETH/BTC ratio. This could potentially be due to investors positioning into...

Traditional indices are declining today, with the ^SPX 0.60%  and QQQ 0.53%  both down 0.34% at the time of writing. All eyes will be on Microsoft after-hours, which will be one of the first large tech companies to report earnings this year. Crypto markets are following suit, with BTC down 0.35% and ETH down 0.73%. ETH/BTC continues its recent decline, falling to .07 (-0.58%) as Bitcoin seems to be reclaiming its crown...