Crypto Research
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Equities opened higher this Monday morning on the back of easing bond yields. The ^SPX 1.11% and NDQ are trading 0.6% and 1.0% higher, respectively. However, the U.S. 02Y has turned higher since this morning, now pushing back towards 4.9%. The DXY has moved lower, assisted by increased hawkish rhetoric from the ECB. The crypto market rallied slightly in concert with equities but is stalling in the face of rate strength....
ANOTHER RINSE Last week, we talked about the futures market getting ahead of its skis, trading with increased leverage despite a continued lack of follow-through in spot market demand. Well, rates and the dollar have remained stubbornly high on the back of continued hawkish rhetoric from central bankers, and as we will discuss below, global liquidity has pulled back in recent weeks. Thus, bulls received another blow on Thursday evening...
Digital asset markets have retraced following Silvergate's insolvency concerns detailed below. BTC and ETH 4.75% have declined 3.7% and 3.2% in the past day, while ^SPX 1.11% and QQQ 1.08% are 1.1% and 1.4% higher than yesterday's close. US10Y (-2.0%) yields have dipped back below 4.0%, with the DXY (-0.3%) following suit. Despite retracements across large caps, MKR is trading 26% higher over the past week. The CDP protocol announced more favorable terms for its...
Traditional indices have continued their slide this week on fears of stickier inflation and higher for longer monetary policy. The SPY 1.11% is down 0.27%, and the QQQ 1.08% has fallen 0.56%, while the DXY (+0.60%) hovers around $105, and US Treasury yields continue to rise. Crypto markets are following suit, with BTC and ETH 4.75% dropping 1.43% and 2.47%, respectively. Binanceâs custodial arm, Ceffu, is resuming its pursuit of a license in...
Cumberland Labs helps launch Hashnote and Deloitte looks to launch Sports Metaverse Experience
Markets moved slightly higher this morning, with BTC and ETH 4.75% up 0.08% and 0.49% and SPX and NDQ up 0.01% and 0.12% today. This move comes as the dollar (DXY) reverses, down 0.20% today. While most altcoins are flat or slightly down today, there are a couple of standouts. ImmutableX (IMX) is up 9.79% after the Ethereum gaming platform teased an announcement last night on Twitter, and LTC 1.01% has also...
Equities are rising this Monday afternoon following their worst week of the year. The ^SPX 1.11% and NDQ are trading 0.4% and 0.7% higher, respectively. Interestingly, the US 2Y yield pushed higher in the early morning hours to reach its highest level in over 15 years but has since retreated to below 4.8%. The crypto market rallied following the local peak in rates this morning but has since retraced some of those...
BULLS OUT OVER THEIR SKIS IN THE SHORT TERM This was obviously a disappointing week for the bulls. We have yet to see the rollover in yields that we were anticipating in the near term, and as a result, crypto is starting to catch up with global equities. We can see below that an apparently overzealous derivatives market exacerbated the lack of follow-through in the spot market. Below we map...
Traditional markets opened sharply lower today following higher YoY PCE data (5.4% in January vs 5.3% in December). With the Fed looking at PCE as their preferred gauge of inflation, the higher print incites fears that they will likely have to do more to cool price pressures. ^SPX 1.11% and QQQ 1.08% have opened and subsequently bled lower from yesterday's close, trading at -1.5% and -2.0% at the time of writing. With correlations to...
Traditional indices have continued their fall this week, with the ^SPX 1.11% (-0.33%) falling below $3,980 and the NDQ (-0.25%) trading just above $12,000. Initial jobless claims came in slightly lower than expected as the market continues to look for signs that the Fedâs hiking cycle is affecting the labor market. Tomorrow at 8:30 AM, the latest PCE data will be released, giving investors more insight into inflation trends. Crypto markets...
