Daily market Brief

Apr 23, 2024

Daily Market Brief 240423

MJ
Min Jung
RM
Rick Maeda
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  • The market rallied in both Asian and US hours, with $BTC now trading at $66,829, up 2.9%. Early ETF data (4/22) suggests a potential net inflow, with low $GBTC outflows at $35 million.

  • It’s worth noting that at this level, persistent negative funding is evident in the rallied altcoins, with the $BTC funding fee also in negative territory.

  • Notable headlines include Grayscale’s new Bitcoin ETF setting the lowest fee in the US, two SEC lawyers resigning after a judge’s rebuke in an anti-crypto case, and FTX planning to auction off the rest of its locked Solana tokens.

  • With the rally, most cryptocurrencies traded in positive territory. The top gainers were $PEPE, $IMX, and $TAO, while the top losers were $MKR, $TON, and $WIF.

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MJ
Min JungResearch Analyst
RM
Rick MaedaResearch Analyst