Daily market Brief

Apr 5, 2024

Daily Market Brief 240405

Peter Chung
Min Jung
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  • $BTC climbed to $68,300, with most of the improvement occurring after Asian hours, despite initially reporting a loss during that period. In TradFi, all three major indexes recorded losses as investors digested hawkish comments from the Fed.

  • ETF flows are picking up, with $GBTC outflows reported at $79M on 4/4. $FBTC saw strong inflows on 4/3, and reports suggest a $141.2M inflow into $IBIT on 4/4, indicating a potential net inflow for the day.

  • In the altcoin sector, $XRP is +6% following the Ripple's USD-backed stablecoin announcement. Additionally, Jupiter’s first launchpad project, $ZEUS, was listed, and Binance introduced $SAGA on its Binance Launchpool.

  • Yesterday’s top three gainers were $BCH, which halving occurred yesterday, $MNT, and $ETC and top three losers were $LEO, $WIF, $ARB.

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Peter ChungHead of Research
Min JungResearch Analyst