News list for "Matrix port"
On March 25th, Matrixport released a daily chart analysis saying that the 30-day actual correlation between Bitcoin ETF IBIT and Nasdaq is approaching 70%, a level that has only occurred twice in history, indicating that Bitcoin is currently being driven by the same macro factors as other risk assets. This high correlation mainly reflects the market's revaluation of earnings expectations before the first quarter earnings season and the negative impact of tariff policy uncertainty. Therefore, the...
On March 17, Matrixport said that the price of gold broke through a record high, further strengthening the "digital gold" narrative of bitcoin, which has gradually emerged since gold broke through $2,000 in the summer of 2023. At present, gold is not only regarded as a hedge against the expansion of US debt, but also as a safe-haven asset to avoid the risk of tariffs. The status and momentum of bitcoin and gold as alternative assets continue to rise as institutions such as BlackRock drive market...
Matrixport said on the X platform, "The slowdown in stablecoin inflows has pushed the market into a consolidation phase. We are closely monitoring this data because if the stablecoin minting indicator fails to recover, any rise in bitcoin will not be sustainable. The slowdown may be due to the fact that stablecoin issuers have built up sufficient inventory ahead of schedule, or the overall market demand has declined. Whatever the specific reason, the current crypto market has not yet ushered in ...
On March 3rd, Matrixport analysis pointed out that since the launch of Bitcoin ETF in January 2024, the outflow of funds this month has hit a new high, which may be related to hedge fund position squaring basis trading (long ETF, short futures). This trend is consistent with the situation that the unpositioned squaring contract of CME Bitcoin futures decreased by $8 billion after the Federal Reserve's December 2024 FOMC meeting, which exceeded 20% of the total inflow of ETF funds. In addition, t...
On June 12, Matrixport officially issued a post saying that since the merger of the PoW and PoS chains in September 2022, the ETH/BTC exchange rate has been on a clear downward trend. Although Ethereum occasionally briefly surpassed Bitcoin, this situation did not last. As the exchange rate approaches the top of the downside channel, ETH may perform poorly again.
On May 24th, Matrixport co-founder Daniel Yan said that before the ETH rally, BTC was at $67,400 and SOL was at $179. Now BTC is at $67,200 and SOL is at $168. This is due to rising US interest rates and ETH stealing the limelight from SOL. He plans to buy dips over the weekend and advises keeping an eye on the following price levels: BTC 66000 USD ETH $3450 SOL 160 USD
On May 22nd, Matrixport posted on the X platform that ETH has just set a record for the largest single-day volatility in history, which may be due to the news on May 20th that the SEC may approve the ETH ETF. ETH's previous largest volatility was concentrated in May 2021, when DeFi trading volume was near its peak and ETH pledges were hot. Two large fluctuations so far in 2024, mainly driven by policy (related to SEC and FOMC meetings).
Matrixport said on the X platform that according to the prediction market, there is only a 7% chance that the US SEC will approve the Ethereum spot ETF this week. The derivatives market expects ETH to fluctuate by +/-4.8% by the end of this week. Historically, ETH has traded 30% more than BTC on average, but recently ETH has been trading even less, even though it is usually an asset with a higher beta value. Since the start of the bull market, this has not been the case. Despite this, ETH volati...
On April 29, Matrixport released its latest report showing that the cryptocurrency market urgently needs a positive catalyst, otherwise it could open the door to a significant price decline if Bitcoin fails to successfully test the $62,000 support level. At the end of February, Bitcoin rallied nearly $10,000 in five trading days. Previous gains could be at risk if the $62,000 support line fails to boost the price of Bitcoin.
Matrixport said in the latest report that some people believe that the market may be on the eve of the rise of counterfeit products, although a few meme coins and counterfeit products have seen great gains, but according to the market share of bitcoin, the bull market may still be in its infancy, indicating that the market of other cryptocurrencies is relatively limited, and bitcoin's market share is still increasing.
In an announcement on social media, Matrixport said that in order to provide high-quality strategic investment services, Matrixport will fully upgrade its products on April 16th from 16:00-19:00 pm (UTC + 8). During this period, it will not be possible to create private strategies or use strategic investment products. We apologize for the inconvenience caused to you. System upgrade time: April 16, 2024 16:00-19:00 (UTC + 8); Upgrade range: All strategic investment products. Estimated recovery ti...
On April 8th, Matrixport posted on social media that the Tether coin minting activity showed an increase in the inflow of fiat currency to cryptocurrency, which continues to support the price of cryptocurrency. In the past 7 days, Tether's circulation has increased by $2 billion, and the issuance rate is even faster than in early January. In addition, Matrixport stated that it had previously criticized Ethereum's upgrade policy when analyzing the impact of each upgrade on ETH prices. With the en...
On April 1st, according to the latest report from Matrixport, cryptocurrency trading volume has skyrocketed since early March as a wave of counterfeit currency activities flooded the market. The expectation of Ethereum Denchun upgrades and low transaction fees has sparked this frenzy, with some political developments pushing cryptocurrencies to the forefront of political elections. However, as trading volume decreases, the sustainability of the rise of counterfeit coins is being questioned.
Matrixport posted on the X platform stating that Bitcoin has achieved seven consecutive months of positive returns for the second time. Previously, in 2012, Bitcoin fell by 10% in the following month, and then achieved positive returns for six consecutive months.
Matrixport stated on social media that Bitcoin has achieved seven consecutive months of positive returns for the second time. Previously, in 2012, Bitcoin fell by 10% in the following month, and then achieved positive returns for six consecutive months.
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