❇️ BTC: +3.75%% to $21,201
❇️ ETH: +18.21% to $1,350
❇️ SOL: +12.41% to $39.49
❇️ Overall Crypto Market Cap: +1.43% to $1.012T
🥴 Bitcoin Fear & Greed Index: Extreme Fear (24/100)
🔻 S&P 500: -0.46%
❇️ DJ Industrial Average: +0.03%
🔻 Nasdaq 100: -1.17%
🔻 Hang Seng Index: -1.61%
❇️ Stoxx Europe 50: +0.12%
Jul 18 • 9 tweets • 5 min read
(1/9) 🧵👇Market Wrap #3: 📰 Market Recap 📰
1. EUR dips below Dollar parity for the first time in 20 years
> Ukraine Russia war caused an energy crisis in EU. ECB is trying to curb inflation and cushion a slowing economy where it aims to raise borrowing costs.
> he US #Fed is raising interest rates at an accelerated rate, causing yields on US #Treasury Bonds to surge higher than EU’s debt — driving investors to the dollar and away from euros.
Jul 18 • 7 tweets • 4 min read
(1/7) 🧵👇Market Wrap #3: Chart of the Week 📊
The sentiment shift has started to show under the hood in #crypto options derivatives market as #BTC's 25Δ skew has largely narrowed down in the past few days, indicating more optimism (a major shift compared to a few weeks ago!).
Open interest metrics are also indicating the same sentiment over the weekend, with P/C OI dipping to 0.62 despite the gradual demand for downside puts the week prior.
🎤 Shoutout to @laevitas1 for the charts and graphs
Jul 18 • 4 tweets • 2 min read
(1/4) 🧵👇Market Wrap #3: 75 is the New Hundred
After the June FOMC meeting, Chair #Powell acknowledged tt the Fed's decision to hike 75bps had been influenced by firming of #inflation expectation measures, including ⬆️ in the Fed staff's index of CIE.
Following the recent jump in June's CPI print at 9.1% versus the 8.8% expectation, the market has started to price in a 100bps hike this month. However, since the June #FOMC meeting, inflation expectations have notably softened.