Pre and Post Market Briefings

SLOWER THAN EXPEXTED In April, the U.S. economy added 175,000 jobs, falling short of the expected 240,000, resulting in a rise in the unemployment rate to 3.9%. Despite the lower job growth, average hourly earnings saw a modest increase. Sectors such as health care, social assistance, transportation, and retail experienced notable job gains, while construction […]

SHORT-LIVED ENTHUSIASM Following Federal Reserve Chair Jerome Powell’s remarks suggesting that interest rate hikes may not be imminent despite inflationary pressures, traders on Wall Street initially responded with enthusiasm. This led to a significant uptick in U.S. stocks and a notable decline in Treasury yields. However, the market sentiment shifted when Powell did not explicitly […]

STEADY MODE BUT UNKNOWN FUTURE The U.S. central bank will release a statement today at 1:00 PM CST, following their two-day policy meeting to address recent disappointing inflation readings and the potential for interest rate cuts this year. Let’s highlight that before cutting rates, the Federal Reserve wants to see further progress in the economy, […]

WEAK DEMAND Unlike spot BTC ETFs in the U.S., which had a much higher trading volume of $655 million on their debut day and attracted approximately $12 billion in investor funds since their launch, it does not seem like the Asian market was as excited for these ETFs. The 6 newly listed exchange-traded funds (ETFs) […]

OUTFLOWS CONTINUE Joining the outflows from Grayscale Bitcoin Trust, which has faced continuous outflows totaling $17.1 billion over the past three and a half months, are other bitcoin exchange-traded funds (ETFs) like the Fidelity Wise Origin Bitcoin Fund (FBTC) and the ARK 21Shares Bitcoin ETF (ARKB). Recent withdrawals of $23 million from FBTC and $31 […]

PRICES INCREASED As stated by the U.S. Department of Commerse, inflation remained high in March, with prices continuing to increase. This is because the PCE price index, which is a key measure monitored by the Federal Reserve, rose 2.8% from a year ago excluding food and energy, exceeding expectations. Energy costs, as well as services […]

SLOW GROWTH The U.S. economy grew modestly in the first quarter, with Gross Domestic Product rising by 1.6% annually, a lower figure than what it was expected. Consumer spending slowed to a 2.5% increase, while inflation surged, with prices spiking by 3.4%, higher than the Federal Reserve’s target of 2%. This unexpected news caused stock […]

STEADY MODE The top cryptocurrencies in the market, are currently experiencing a period of stability as traders evaluate market conditions post-halving. With Bitcoin trading above $66,600 and Ether at around $3,240, the market has calmed down after recent volatility driven by geopolitical tensions and halving excitement. As of today, traders seem hesitant to take decisive […]

CRYPTO ON DECLINE Global interest in investing in cryptocurrencies continued to decrease for a second week in a row due to concerns about the persistence of high interest rates. According to a report from CoinShares International Ltd., $206 million was withdrawn from crypto assets in the week through April 19. The majority of these outflows […]

HALVING AFTERMATH Following the lasted halving event which went ahead last Friday, Bitcoin’s price has remained steady, trading above $65,800, but there was a noticeable drop in transaction fees. On-chain data shows medium-priority transactions costing $8.48 and high-priority transactions at $9.32, significantly lower than the initial spike post-halving. Moreover, despite expectations that miner revenue would […]

REBOUND AS TENSIONS CALMED Bitcoin made a comeback as tensions eased during the recent conflict between Israel and Iran. Bitcoin’s value initially fell to $59,643 following the news that Israel had retaliated against Iran. However, reports of safety at Iranian nuclear facilities in Isfahan calmed nerves, boosting Bitcoin’s price back up. As of 8:00 AM […]

RESILIENT DESPITE DECLINES The past few days have not been successful for Bitcoin, as the crypto is currently experiencing a price correction fueled by challenging macroeconomic conditions, prompting a 3.3% decline in the indicator of liquid digital assets, CoinDesk 20, which is now trading at 2,125. Nonetheless, despite this, it is worth noting that Bitcoin […]