Crypto Research
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RATES SURGE ON HIGHER FOR LONGER As expected, Fed Chair Powell took to the podium yesterday and kept interest rates unchanged. Concurrently, he unveiled the Fed’s new dot plot, which forecasts one more rate hike for this year but two fewer cuts for the next year. This was perceived as more hawkish than anticipated by both traditional and crypto markets. The dot plot and Powell's rhetoric collectively signal a 'higher...
U.S. equities and crypto markets are falling today as investors digest the idea of a higher-for-longer interest-rate future. Following yesterdayâs FOMC meeting, expectations for the 2024 and 2025 federal funds rate sharply increased (see below). The SPX and NDQ are both down over 1% at the time of writing, while BTC 0.43% (-1.63%) and ETH 0.46% (-1.98%) are showing larger declines. ETHBTC has fallen below 0.06, its lowest level since July 2022....
Equity markets are flat today in anticipation of the Fedâs interest rate decision and revised dot plot announcement this afternoon. BTC 0.43% is down 0.5% today, continuing to range between $26.9k and $27.4k for the last week. ETH 0.46% is underperforming, down 1.5% in USD, and reaching 14 month lows against BTC. The ETHBTC pair has broken the 0.06 level, trading at 0.59 at writing. This follows notable on-chain transfers from whales...
Major equity indices are trending lower today, while interest rates are on the rise, with the US 10-Year seemingly poised to hit a new YTD high. The DXY started the day strong but has since plateaued, currently sitting flat. In the commodities market, gold, which BTC 0.43% has directionally tracked quite well this year, is also up. In the crypto market, Bitcoin experienced a morning rally, surging back up to nearly...
Chainlink Rallies on SWIFT Optimism, Senator Warren Gains Additional Support for Crypto Bill
U.S. equity indices are showing modest gains in Mondayâs trading as investors remain focused on Wednesdayâs FOMC meeting in which interest rates are expected to be held at current levels. Crypto markets are rallying as BTC 0.43% (+2.92%) has risen above $27k, and ETH 0.46% (+2.26%) has rallied to $1,660. Chainlink (LINK 2.12% ) is outperforming today, rising 10.22% amid optimism regarding its partnership with SWIFT to scale tokenized asset adoption. Chainlink leadership spoke...
After a week of economic data releases supporting a potential reacceleration of inflation, US Treasury yields are rising across the board, while US equity markets are declining. The SPY and QQQ have dropped 1.26% and 1.82%, respectively, at the time of writing. Crypto markets are performing similarly, with BTC 0.43% (-0.94%) trading at $26.3k and ETH 0.46% (-0.65%) faring slightly better, holding around the low $1,600s. Although many had written off the...
Today’s video discusses seasonal headwinds, market outflows, and declining market liquidity, explaining why we are showing some tactical caution while remaining optimistic in the intermediate term. For our latest Crypto Strategy note click here. https://vimeo. com/864597468/b68e6a7157? share=copy
U.S Equities are flat while BTC 0.43% has jumped back above $26k amid a mixed CPI report. August CPI increased 0.6% MoM, in line with expectations. The Fedâs preferred core CPI measure (ex. food & energy) increased 0.3% monthly, above estimates of 0.2%. The release has not changed CME market expectations of a pause at next weekâs FOMC, currently at 97% at writing. Investors will be keen to hear whether further...
TACTICAL CAUTION Throughout this year, we've been navigating a complex interplay between overarching macro influences and crypto-specific events. Milestones such as BlackRock's ETF application, Ripple's legal win over the SEC, and Grayscale's similar success have been promising, yet they've occurred amidst a peak in global liquidity. This timing has effectively curtailed any long-lasting bullish momentum in the crypto markets. While we've been vocal proponents of maintaining risk exposure, the convergence...
The U.S. Equity market is declining today as investors await the August CPI data, which is set to be released tomorrow at 8:30 AM EST. The S&P 500 has fallen 0.21%, while the Nasdaq 100 is faring slightly worse, dropping 0.67%. The crypto market is showing strength today, with BTC 0.43% (+3.75%) squeezing back above $26k and ETH 0.46% (3.21%) rising above $1,600. As Bitcoin moves higher and optimism around a spot...
