Daily market Brief

May 6, 2024

Daily Market Brief 240506

Peter Chung
Min Jung
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  • After Friday’s US job report, $BTC rallied from $59k to $64k and is now trading at $64,006. The report showed that U.S. job growth slowed more than expected, with Nonfarm Payrolls rising by 175,000, vs. 243,000 estimate.

  • In the US spot BTC ETF, $GBTC saw its first inflow on May 3rd, marking an overall positive net flow since April 23rd.

  • In the past 24 hours, $RDNR, $FET, and $NEAR were the top three gainers, while $WIF, $STX, and $PEPE experienced the most losses, mainly due to $WIF and $PEPE rallying on Saturday. In general, the memecoin and AI sectors dominated the market over the weekend.

  • This week, Federal Reserve officials Barkin and Williams are scheduled to speak on Tuesday, followed by Kashkari on Wednesday. Additionally, earnings reports are expected from Disney, Roblox, Robinhood, Uber, and Berkshire Hathaway.

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Peter ChungHead of Research
Min JungResearch Analyst