Markets today by TradingView   This week, BTC peaked at USD 64,700 during the Asia session on Tuesday night before dropping to USD 59,000 by the close of the US session, breaking its key support level of USD 60,000. The drop was boosted by investors exercising caution before the FOMC meeting, taking on a risk-off approach, a strong rise in the USD (DXY peaking at 106.5 on Wednesday morning), and key major macro indicators such as the CB Consumer Confidence and Chicago PMI released data coming in worse than predicted during the Tuesday session. BTC bottomed around USD 56,500 during th ..read more

In the May edition of the Crypto Finance House View, we cover the following topics: Market Review & Outlook Crypto assets exhibited volatility in early April but maintained their position as one of the best performing assets year-to-date. There is an increasing focus on the fundamental value drivers of various chains and protocols, with the expectation that projects will need to deliver tangible results or face declines in their token value. Looking ahead, the crypto market’s sensitivity to changes in US interest rates suggests potential volatility, but there remains a strong belief tha ..read more

Markets today by TradingView Week-over-week performance: BTCUSD: 63,423 / -4.28% ETHUSD: 3,172 / -0.13% (!) US10Y: 4.62% / +1 bp DXY: 105.94 / -0.16% GOLD (USD/OZ): 2,319 / +0.3% SPX: 5,116 / +2.12% NDX: 17,782 / +3.32% DVOL: 52.76 / -23.06% VIX: 14.68 / -13.29% Looking ahead – Economic Calendar Tuesday, 30 April: EU CPI, EU GDP Wednesday, 1 May: EU/CH/UK/APAC Labour Day, US JOLTs, FOMC & Press Thursday, 2 May: CH CPI Friday, 3 May: US NFP On the macro side: Last week, the US PCE index exceeded expectations, registering a year-on-year increase of 2.7%.  While this indicates a d ..read more

Markets today by TradingView   This week, BTC traded in a tight range facing major resistance in the USD 67,000-67,300 range on Monday and Tuesday, and finding support at the level of USD 63,000 yesterday. As anticipated, the BTC halving on the weekend did not have a big impact on the price. Market sentiment in the cryptocurrency sphere appears to be predominantly influenced by macroeconomic news and its potential impact on interest rate cuts. In light of lower-than-expected US GDP data, risk assets experienced a decline, suggesting reduced likelihood for rate cuts in June and a post ..read more

Markets today by TradingView Week-over-week performance: BTCUSD: 66,262 / +5.88% ETHUSD: 3,176 / +4.65% US10Y: 4.61% / +0 bps  DXY: 106.12 / -0.16% GOLD (USD/OZ): 2,312 / -3.18% SPX: 5,010 / -1.01% NDX: 17,210 / -2.80% VIX: 16.93 / -11.91%   Looking ahead – Economic Calendar Tuesday, 23 April: US PMI Thursday, 25 April: US GDP, Fed’s Balance Sheet Friday, 26 April: BoJ Interest Rate Decision, SNB Board Member Jordan Speaks, US PCE On the macro side: Geopolitical risks, coupled with a negative outlook by Fed members, pushed US equities lower and kept defensive assets such as g ..read more

Markets today by TradingView   The Iranian attacks on Israel last Saturday evening caused a sell-off in the cryptocurrency market, with BTC falling from highs of around USD 68,000 on Saturday morning to around USD 60,500-61,000 on the major exchanges before retracing with high volatility to levels around USD 64,000 on Sunday. Due to the heavy liquidation, many of the major exchanges dipped slightly below USD 60,000, where nearly USD 1 billion was liquidated in a 4-hour window with leveraged longs of USD 700 million. Monday morning began with a bullish candle, with Asian investors buy ..read more

Markets today by TradingView Week-over-week performance: BTCUSD: 62,583 / -11.91% (!) ETHUSD: 3,035 / -17.79% (!!) US10Y: 4.61% / +20bps (!) DXY: 106.29 / +2.1% (!) GOLD (USD/OZ): 2,388 / +1.83% NDX: 17,706 / -2.17% VIX: 19.22 / +26.61% (!) On the macro side: It was a strong macro week. Leading US economic indicators exceeded expectations, and inflation remains sticky.  Correspondingly, the US 10-year Treasury note auction underperformed by 1.1 basis points, indicating weak demand for notes. This, combined with geopolitical risks arising from the Middle East, turned the risk-off butt ..read more

Markets today by TradingView   With last week’s positive BTC ETF inflows, retail traders were expecting a bullish week ahead. The BTC price surged from USD 67,500 on Saturday morning to just under USD 70,300, before retracing on the CME opening to USD 69,000 and consolidating well above this range during Asia’s Monday session. On Monday, BTC then rose unexpectedly to above USD 72,750 ahead of the US session with rumours in the market that the strong spot BTC buyer on Binance was related to Ethena. Traders may have taken the heavy buying as a breakout signal and pushed the price highe ..read more

Markets today by TradingView Week-over-week performance: BTCUSD: 71,048 / +7.20% ETHUSD: 3,692 / +10.37% (!) US10Y: 4.41% / +10bps DXY: 104.10 / -0.91% GOLD (USD/OZ): 2,345 / +3.99% (!) NDX: 18,100 / -1.05% VIX: 15.18 / +11.12% On the macro side: Last week, the US NFP once again surpassed expectations, adding 303k jobs compared to the forecast of 212k.  This, along with speeches by Powell and others, has led to a shift in expectations for rate cuts.  The EoY target rate is now expected to be 475-500 bps, with two rate cuts anticipated throughout the year.  This marks a sign ..read more

Markets today by TradingView   This week, BTC reached its peak last Sunday night, hitting approximately USD 71,500. Despite several attempts throughout the previous week, it failed to break through this range, indicating a significant resistance level for further upward trends. A shift in sentiment on low to medium time frames became apparent, as evidenced by the peak in positive funding rates over the weekend and a quartering after the drop from USD 71,000 to USD 68,000. This shift, coupled with net ETF outflows in Monday’s session, led BTC to plummet to USD 64,500 by the beginning ..read more