Daily market Brief

Apr 8, 2024

Daily Market Brief 240408

PC
Peter Chung
MJ
Min Jung
PDF Download
  • With the three major indexes rallying amid strong jobless data on Friday, $BTC briefly retouched the $70,000 mark and is now trading in the $69,200 range. The US economy added 303,000 jobs, surpassing the expected 205,000, showcasing strong economic performance.

  • With the $BTC halving event about two weeks away, $BTC continues to outperform, evidenced by a Bitcoin Dominance of 54.3% and the ETH/BTC ratio reaching historical lows at 0.049. There's also a noticeable shift towards $BTC beta coins and emerging narratives, with Runes gaining particular attention in the market.

  • The meme sector is leading the rebound. The top three gainers in the last 24 hours are $PEPE, $DOGE, and $OP, while the top three losers are $TON, $MKR, and $NEAR.

  • Macro factors, rather than crypto/web3, are expected to dominate the headlines this week, with the market keenly awaiting the US CPI release this Wednesday.

Back to list
PC
Peter ChungHead of Research
MJ
Min JungResearch Analyst