Daily market Brief

Apr 12, 2024

Daily Market Brief 240412

PC
Peter Chung
MJ
Min Jung
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  • The market moved sideways, with $BTC down by -0.7% and now trading at $70,011. Although there was a small rally during the Asian Hour fueled by positive ETF flow news, the market retraced to the $70k level, even with better-than-expected PPI news.

  • The $GBTC outflow on 4/10 was the smallest at just $17.5M, making the day’s net flow positive at $127.3M. However, early reports show that $GBTC outflow is back at the usual level, with a $124.9M outflow on 4/11.

  • On the listing side, Binance listed $TAO on its spot market, and Coinbase International Exchange announced the listing of $PEPE perpetuals.

  • Following Uniswap Labs’ receipt of a Wells notice, $UNI, $GRT, and $FIL were the biggest losers. Conversely, $TAO, $TON, and $VET were the biggest gainers on the back of Binance listing.

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PC
Peter ChungHead of Research
MJ
Min JungResearch Analyst