POKKET: Crypto Market Update (July 14)
Bitcoin price is softer -2.5% to $32.3k, ETH is doing worse -6.2% to below $2k. Movers are AUDIO +42%, AXS +21%, CHR +17%, AKRO -13%, ALPHA -12%, and rest are in between.
According to Glassnode, several key metrics suggest BTC is in the ‘calm before storm’ pointing to declining volumes of derivatives, recovering mining capacity (after China crackdown) and number of BTC moving out of exchanges – basically leading to suppressed vols for some time to come.
The S&P Dow Jones launches five new crypto indices, with the main one being the BDM index (broad digital market) which will be derived from over 240 different coins.
June US inflation rose faster than expected, a whopping +5.4% YoY – crypto and TradFi are largely unchanged. Used car prices jumped +2% MoM, the largest jump since 1981 as the chip shortage affects new car sales. Transitory effect and JPow memes circulate once more.
Check out today’s interest rates at POKKET and earn interest on your crypto with our crypto saving accounts.