Equity Markets and Crypto Markets Parted Ways As Ethereum Rebound

$BTC 24 Hour High $19,541 / Low $18,368 | $BTC +5.0% Past 24 hours; -1.7% Past 7 days

Crypto markets broke the high correlation with equity markets as Ethereum led the rebound from the previous selloff. Coinbase secured regulatory approval in the Netherlands. FTX is in talks of another round of fundraising for 1b USD.

Equities, Commodities & Macro 

US markets slid lower and Asia markets set to wrap the week in the red too, continuing the sixth consecutive week of closing lower. The Japanese government finally intervened to support the Yen for the first time since 1998. Taiwan, Hong Kong and Japan are in a race of opening up the borders, concerning that a further delay in resuming to the post-Covid normality will have a long, lingering impact to the economy in the long term.


Digital Assets Market

  • Total crypto market capitalization stands at $984B, +4.7% from yesterday
  • $BTC is -0.36% at time of writing; 24H liquidations and funding rates: 36.90M, 0.01476%
  • $ETH is +0.16% at time of writing; 24H liquidations and funding rates: 34.32M, 0.01122%
  • Stablecoins market dominance: USDT 44.93%; USDC 32.98%; BUSD 13.56%; DAI 4.27%

Alts and DeFi watch

  • DeFi TVL: $55.08B (+0.09% over last 24 hours)
  • $SOL +5.4% in the last 24 hours, -1.9% in the past week
  • $SHIB -4.2% in the last 24 hours, -7.0% in the past week
  • $ADA +3.8% in the last 24 hours, -1.6% in the past week
  • $ENJ +6.2% in the last 24 hours, -0.9% in the past week

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