Crypto Research
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DOVISH FED STATEMENT On Wednesday, the Federal Reserve raised the target Fed Funds rate range by 25 basis points (BPS), marking the ninth increase in just over a year. The FOMC statement hinted at a nearing end to rate hikes by removing the reference to "ongoing increases." According to the FOMC's updated forecast, there will be one more rate increase this year, and officials expect slower economic growth in 2023...
Stock are trading slightly lower relative to yesterday's close after the 10Y yield plunged overnight before rebounding at writing. ^SPX 1.63% and QQQ 2.84% are trading at -0.2% and -0.4%, respectively. Correlations between digital asset markets and traditional markets also continue to break down since two weeks ago. BTC and ETH 1.30% are trading -1.6% and -3.2%, respectively. The market-wide price decrease followed the SEC's bulletin urging investors to exercise caution when investing in digital...
Coinbase Receives a Wells Notice, Consensys Launches Institutional Staking Marketplace
Markets are rallying today following yesterdayâs FOMC meeting where the Fed unanimously decided to raise interest rates by another quarter point. The S&P 500 and Nasdaq 100 have both risen over 1%, while US Treasury yields and the US dollar are showing declines. BTC (+4.25%) and ETH 1.30% (+5.24%) are displaying strength amid Arbitrumâs native token launch (ARB 0.10% ), which has injected over $1 billion of fresh capital into the crypto ecosystem....
EXECUTIVE SUMMARYAlgorand (ALGO) is a layer 1 blockchain that employs a unique consensus mechanism called Pure Proof of Stake (PPoS), which relies on random node selection to promote decentralization, security, and scalability. Algorand Foundation’s mission is to empower a dynamic, inclusive, and borderless global ecosystem based on the Algorand blockchain technology.Algorand Layer 1’s Algorand Virtual Machine (AVM) powers Algorand’s smart contracts and is similar to Ethereum's EVM. It can process...
Equities and Crypto are mixed today, with the S&P rising 0.16% while BTC gained 1.77% over the last day. All eyes are on the Fed, set to deliver their next interest rate decision at 2 pm this afternoon. This will be the first decision following instability among regional banks and several high-profile bank failures. The Fed is in a tough spot as it weighs risking further financial sector instability against...
Crypto and traditional markets moved higher today at the time of writing - BTC was up 0.72%, ETH 1.30% was up 4.58%, and SPX and NDQ are up 0.74% and 0.50%, respectively. After a strong Bitcoin dominance run the past month, altcoins are beginning to show signs of life versus bitcoin. The ETH/BTC ratio is up 3.80%, and altcoins such as FTM, LTC 0.79% , and SOL 1.21% are outperforming BTC today - up...
Sean Farrell joined Tom Lee for a market update webinar, discussing the recent collapse of SVB (Silicon Valley Bank), subsequent macro events, and what this means for crypto. Recorded March 16, 2023 WATCH THE MARKET UPDATE WITH TOM LEE: "YIELD CURVE UN-INVERSION MEANS SOMETHING BROKE. EITHER INFLATION OR ECONOMY."
It is another wildly consequential week in global markets as the worldwide banking system continues to fend off liquidity concerns, and traders brace for a decision from the Fed on interest rates following their meeting on Wednesday. Bitcoin is coming off one of its best weeks in history, closing the week up 35% and moving north of $28k for the first time since last June. This afternoon, BTC (+0.4%) is...
IT MIGHT NOT “TECHNICALLY” BE QE, BUT QT IS OVER A common refrain among Bitcoin advocates has been “short the banks, long BTC.” Over the past couple of weeks, we have seen the closest manifestation of this trade since the inception of the Bitcoin network. There remain apparent concerns about the health of the US banking system, specifically related to the duration mismatch issues plaguing traditional banking institutions and depositors'...
Markets have largely received news of the Fed's balance sheet expansion to $8.6T earlier this week to be favorable but concerns around the stability of regional banks still loom. ^SPX 1.63% (-1.3%)and QQQ 2.84% (-1.0%) have opened lower today after First Republic Bank received its $30b infusion from other banks. BTC (+6.0%) briefly traded at $27k this morning before retracing to right below it, while ETH 1.30% (+3.6%) did not break its $17.8k...
