Crypto Research
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RATES DUE FOR A BOUNCE (MAYBE) As the crypto market continues to exhibit strength, and despite eradicating one of the market’s biggest unknowns in Binance just last week, it remains essential to be aware of near-term risks. Recently, the bond market has experienced a significant rally, and there's been a notable decline in the DXY. Combined with nominal stimulus in Asia, these factors have contributed to a substantial increase in...
U.S. equities are cooling following a strong upward surprise in Chicago PMI data (55.8 act. vs. 45.4 exp), marking one of the largest beats in the data seriesâ history. The SPY has fallen 0.13%, while the QQQ has dropped 0.75%. Crypto markets are mixed, with ETH (+0.49%) gaining on the day while BTC (-0.31%) is showing mild losses. UNIBOT is one of the top performers this week, rising 66% so far,...
U.S. stock indices are relatively flat today, with the SPY and QQQ both declining less than 0.10%, as the DXY (-0.38%) continues retreating, falling below $103. In contrast, crypto assets are rallying sharply, with BTC (+2.37%) trading above $38k and ETH (+1.78%) rising above $2,060. GBTC (+4.76%) has been one of the most popular trades over the past year as its discount to NAV has shrunk from over 40% to...
Equities, initially in the red, have rallied with the QQQ up by around 20 basis points and the SPX nearing breakeven. The DXY is trending downwards, aiming for its lowest close since August amid another day of lower rates, which is easing the burden on crypto-related equities like COIN, now trading around $120 and nearing another year-to-date high. The recent Binance crackdown also benefits Coinbase, potentially boosting its market share...
Equities are continuing the November rally, with the Nasdaq and S&P gaining 0.6% and 0.5%, respectively. The yield on the U.S. 10-Year Treasury dropped below 4.4% for the first time in two months, in spite of the recent FOMC minutes suggesting that the policy will stay 'restrictive' until there is a clear trend of inflation heading towards the Federal Reserve's target of 2%. BTC is recovering to trade at $37k...
Binance Enforcement Provides Dip-Buying Opportunity as Global Liquidity Continues to Improve
BINANCE RISK MITIGATED One of the most significant idiosyncratic risks in the crypto market has been the uncertainty surrounding Binance and potential action from the Justice Department against the world's leading exchange. Earlier this year, we anticipated that any disciplinary actions would likely involve criminal charges against Changpeng Zhao (CZ) and a fine against the exchange. From our September note: _Source: Fundstrat_ Today, these views were realized. CZ appeared in...
Throughout 2023, our research team has recommended seven venture-style investments, primarily focused on small-cap tokens. We have compiled brief updates on each of the projects in our portfolio to examine our initial investment theses and ensure they remain intact. Click HERE for the full report. EXECUTIVE SUMMARY
The U.S. Attorney General Merrick Garland and Treasury Secretary Janet Yellen are set to host a joint conference at 3pm EST to announce âseparate but related cryptocurrency enforcement actions.â It is believed they will announce a settlement of the DOJâs criminal case against Binance. Details of the settlement are already beginning to emerge. Binance founder Changpeng Zhao (CZ) has officially stepped down as CEO and is pleading guilty to anti-money...
U.S. equities are rising to start the week ahead of the Thanksgiving holiday. The SPX (+0.45%) is trading at $4,535, while the NDQ (+0.76%) is approaching $16,000. Investors will be watching Nvidiaâs earnings release tomorrow, potentially serving as a catalyst for AI-related names. Crypto markets are rising following news that the U.S. Justice Department is seeking $4 billion in penalties from Binance in exchange for settling its criminal case against the...