Bitcoin
$BTC
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BTC -2.55% remained above $43k in morning trading, holding a 0.5% increase over the last day. LINK -6.37% surged to a 22-month peak, surpassing $18 and recording a nearly 30% gain over the week, outperforming most large-cap cryptos. This surge is indicative of a bullish departure from its previous three-month trading range of $13 to $17, continuing its recovery from lows near $5 in June 2023. AI-related crypto tokens surged following Meta's...
QRA IN LINE WITH MARKET EXPECTATIONS _THE RESULTS_ The Treasury’s quarterly refunding announcement (QRA) was the first of two major macro events to transpire on Wednesday. Leading up to this, on Monday, there was an indication that the net borrowing for the current quarter would be $760 billion, which is $55 billion lower than the initial $815 billion estimate, and the total funding needs for Q2 would be just over...
Crypto markets are mixed as BTC -2.55% climbs 0.4% higher to reach $43.6k, while the aggregate crypto market cap is lower. ETH -1.28% is underperforming, falling 1.3% to $2.3k. As we close the month, the top performers among the top 100 over the last 30 days have been new L1 SUI (+95%), AI-focused network TAO (+68.6%), and gaming token RON (+21.4%). In the same period, BTC -2.55% has gained ~3% from its yearly...
Binance Allows Large Traders to Keep Assets at Banks, Native USDC Coming to Celo
U.S. equities are showing moderate declines after JOLTS surprised to the upside with 9.03 million job openings vs. 8.75 million expected. The SPY and QQQ have declined by 0.14% and 0.63%, respectively. All eyes will be on tomorrowâs FOMC meeting and QRA announcement, which should give near-term direction to rates and the DXY. Crypto markets are showing strength, with BTC -2.55% rising 0.36% to $43.5k and ETH -1.28% gaining 2.46% to exceed...
GBTC Outflows Continue to Subside, Jupiter Volumes Skyrocket Ahead of Big Airdrop
This week is shaping up to be a significant one on the macro front, with the JOLTS report on Tuesday, the FOMC meeting and Treasury Quarterly Refunding Announcement (QRA) on Wednesday, PMIs on Thursday, and jobs data on Friday. Despite a downward trend in rates today, possibly hinting at the Fed's tone this week, DXY is climbing, largely due to a weakening Euro. In the equities market, major indices are...
THE GBTC PROBLEM We have been watching spot BTC ETF flows closely since their launch two weeks ago, and while overall net flows remain decidedly positive, the market seems hung up on GBTC outflows. As a reminder, the outflows we care the most about are those from entities that are not rotating into other spot BTC ETFs. This is comprised of some speculative capital that played the run-up into ETF...
Telefonica to add Helium Mobile Hotspots in Mexico, Polygon to Launch Aggregation Layer
U.S. equities continue to trade upwards as the economy remains robust while inflation trends lower. Q4 GDP came in at 3.3% vs. 2.0% expected, while weekly jobless claims rose to 214k vs. 200k expected. The SPY and QQQ are both trading approximately 0.2% higher on the day, slightly below all-time highs made yesterday. Crypto markets continue to slide, with BTC -2.55% (-0.43%) trading near $39.9k and ETH -1.28% (-0.73%) trading around $2,200...
Stocks are rising following China's decision to lower the reserve requirements for banks, coupled with strong early earnings from technology firms like Netflix and ASML. Meanwhile, the cryptocurrency market has stabilized somewhat, recovering slightly from its recent decline. BTC -2.55% has reclaimed $40k gaining 2%, while ETH -1.28% gained 1% to reach $2.2k. Bitcoin's recent drop below the $40k mark appears to have been sparked by news that Mt. Gox is confirming...
Rabby Wallet Launches Points System, Rollbit and Faze Clan Announce Partnership
U.S. equity indices are flat on the day as the DXY (+0.39%) and U.S. Treasury yields are rising. The next important macroeconomic data point is the PCE Index, which will be released on Friday morning. Crypto markets are continuing to struggle, with BTC -2.55% (-1.10%) and ETH -1.28% (-4.71%) extending this weekâs declines. After surging following the Bitcoin ETF approval, ETHBTC (-3.61%) has given back some of its gains, contributing to the...
Equities are advancing again after reaching new all-time highs last week, buoyed by a pullback in interest rates. Despite this positive trend in equities, gold prices have dipped, and the broader crypto market, including BTC -2.55% , continues to face downward pressure. BTC is steadfastly maintaining the $40,000 level as its support, while ETH -1.28% has retraced its recent rally to $2,700, now trading at $2,350. This retreat is mirrored in the broader...
