Daily Market Brief

Jun 12, 2024

Daily Market Brief 240612

Peter Chung
Min Jung
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  • Ahead of the CPI and FOMC meetings, markets are in risk-off mode with $BTC down -3.2% and $ETH down -4.6%. $BTC briefly touched 66k and is now trading at $67,319. On the ETF front, we saw a $64.9M outflow.

  • Regarding CPI and FOMC, the market is expecting no change in rates, with a +0.1% increase for CPI and +0.3% for the Core. Important factors to watch are whether lower gas prices helped the overall inflation number and the dot plot release, which will show the Fed’s expectations.

  • A few notable headlines include ZKsync introducing a $ZK allocation checker, Binance Labs investing in Circuit, and IO.net being listed on Binance.

  • During the last 24 hours, the top three gainers were $ONDO, $PEPE, and $ZBC, while the top three losers were $MEW, $OM, and $BEER.

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Peter ChungHead of Research
Min JungResearch Analyst