Crypto Research
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ETH Touches $3k as Tailwinds Align, Ethena Launch Generates Both Fanfare and Concern
Equity markets are under pressure this morning, with the QQQ and SPX indices dropping over 1% and approximately 0.70%, respectively. This downturn occurs amidst a backdrop of a declining DXY and lower rates, underscoring a continued decoupling between risk assets and the bond market since early January. The crypto market is also experiencing a pullback, following Bitcoin's premarket attempt to surpass the $53k mark and Ethereum's notable weekend achievement of...
Markets are reacting to this morningâs January PPI data coming in higher than expectations. The report showed a MoM increase of 0.3% vs. 0.1% expected, and core PPI rising 0.5% vs 0.1% expected. In conjunction with a similarly hot CPI report this week, the data has shifted market expectations of the Fedâs first rate cut to June. U.S. equities are declining following the data release, with the SPY, QQQ, and...
Telefonica Forms Strategic Partnership with Chainlink Labs, Citibank Completes Tokenization Pilot on Avalanche
A flurry of economic data this morning has provided mixed signals for markets. On one side, retail sales decreased 0.8% MoM versus an expected 0.2% decline. On the other side, jobless claims came in lower than expected and the Empire State manufacturing survey showed higher than expected prices paid. U.S. equities are mixed, with the SPY gaining 0.29% and the QQQ showing a modest decline of 0.05%. BTC -1.65% (+0.75%) continues its...
Starknet Foundation Announces Airdrop Details, Taurus and Lido Partner for Institutional Liquid Staking
After yesterdayâs sell-off following January CPI data, U.S. equity indices are rebounding, with both the SPY and QQQ rising approximately 0.40%. BTC -1.65% showed resilience yesterday and continues to demonstrate strength today, surging 4% and briefly eclipsing the $52k mark. ETH -0.39% (+3.96%) is showing similar gains, rising above $2,750, the highest level since May 2022. Robinhood, a stock and crypto trading platform, beat earnings expectations yesterday, largely due to 10% year-over-year growth in...
CKB Rallies After BTC Client Release, MicroStrategy Pivots to Bitcoin Development
Stock markets are down, and bond yields are up following a January report showing U.S. consumer prices rising unexpectedly. Headline and core CPI saw year-on-year increases of 3.1% and 3.9%, surpassing the forecasted 2.9% and 3.7%. This higher inflation may dampen the anticipation of Federal Reserve rate reductions, with market participants currently foreseeing a 37% likelihood of a cut in May. Yesterday, Bitcoin surpassed the $50,000 mark for the first...
Monday morning picked up right where yesterday left off, with BTC -1.65% surging toward $50k, momentarily touching the key level across several exchanges. The rally appears to be driven by spot market demand, as evidenced by a significant spike in spot volume while funding rates remain muted (see chart below). A substantial portion of this volume is likely entering the market via spot ETFs chasing the positive weekend price action. Concurrently,...
Bitcoin's value has increased by 6% in the past day, surpassing $47k. This surge is attributed to various factors, including ETF flows, short liquidations, and the typically positive sentiment around the performance of BTC -1.65% during the Chinese New Year. Additional factors contributing to Bitcoin's rally include a decrease in sales by miners and potential positive influence from stock markets surging to all-time highs. CryptoQuant, an on-chain analytics firm, noted a...
Bitcoin surged to a four-week peak, trading at ~$45,400 in tandem with the U.S. stock indexes reaching all-time highs. After dipping to a low of $42,700 on Wednesday, Bitcoin's value increased by nearly 5%, marking its highest point since January 11. ETH -0.39% is also moving higher, topping $2.4k with a 3% increase. Ethereum's two-week peak follows an amendment of the joint spot ETH ETF application by asset managers Ark Invest and 21Shares....
Crypto markets are rising today, with BTC -1.65% (+1.45%) trading above $43k and ETH -0.39% (+2.33%) surpassing $2,350. Dymension, a new layer-1 network focused on providing rollups-as-a-service, processed its first block, marking its mainnet launch. The first phase of the protocol is focused on enhancing economic security, after which the focus will shift to launching RollApps, a way for developers to deploy consensus-free blockchains easily. DYM, Dymensionâs native token, has gained 15.3% in early...
The SPY (-0.44%) and QQQ (-0.40%) are moving lower to start the week following ISM Services data coming in at 53.4 vs. 52.0 expected, marking the highest level since October. The prices paid component surged to 64.0 vs 56.4 expected, causing rates and the DXY (+0.52%) to move higher. BTC -1.65% and ETH -0.39% pared early morning gains and are roughly flat on the day, trading at $42.5k and $2.3k respectively. Chainlink (LINK -4.96% )...
BTC -1.65% remained above $43k in morning trading, holding a 0.5% increase over the last day. LINK -4.96% 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...
