Quick Recap of Global and Crypto Market Trends in 1 Minute 05.12.2023

You can read the summary of markets report in 1 minute, which we have compiled daily important news about crypto money markets, global market news and domestic markets.

Cryptocurrencies

  • BlackRock and Bitwise updated their S-1 filings for spot bitcoin ETFs with the SEC the other day.
  • The profit of MicroStrategy, which had approximately 175,000 Bitcoins in its safe as of the end of November, exceeded 2 billion dollars after Bitcoin’s rise above $ 42,000.
  • Entry into digital asset funds continued this week. The total amount of these money inflows, which have been experienced for 10 consecutive weeks, reached 1.76 billion dollars.
  • Hashdex US and Europe product manager emphasized that although there is no exact date for the spot Bitcoin ETF, he estimates that ETF transactions will begin in the second quarter of 2024.
  • Binance CEO Richard Teng stated that the “regulatory compliance issues” experienced in Binance’s first days of operation are a thing of the past and the crypto exchange is now “completely different.”
  • It was revealed that there was a significant increase in Coinbase’s market share after Binance signed a billion-dollar agreement with US regulators last week.
  • Cryptocurrency exchange ByBit published its fourth quarter report on December 4, comparing the trend between its institutional and retail investors. The report notes that institutional investors hold 45 percent of their assets in stablecoins, 35 percent in Bitcoin, 15 percent in Ether, and only 5 percent in other altcoins.
  • Itau Unibanco, Brazil’s largest lender, has launched a cryptocurrency trading service for its customers on its platform. Itau aims to facilitate trading of the two most prominent cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH).
  • Two brothers responsible for the theft of $8.5 million from the decentralized finance (DeFi) protocol Platypus were released by a French court.
  • El Salvador President Nayib Bukele stated that the country’s Bitcoin portfolio is currently in profit of approximately $3.6 million after being at a loss for a long time.
  • Robinhood shared that crypto volumes were 75% higher in November than in previous months.
  • With the mobilization of the NFT sector, we saw that 80% of the market volume came from the BLUR NFT market. While the NFT transaction volume was at the level of 90 million, approximately 70 million dollars of this amount resulted from transactions in the Blur NFT market. At the same time, OpenSea’s NFT market share dropped to almost 17% of total transaction volume.

FED

  • Analysts stated that, based on the pricing in the money markets, it is certain that the FED will keep the interest rate constant in the next two meetings.

Global Markets

  • In global markets, all eyes are on the Purchasing Managers Index (PMI) data to be announced worldwide today.
  • Reminding that there is a possibility of consolidation in money markets after a strong November, analysts warned investors about possible downside risks.
  • Yesterday, in the New York Stock Exchange, the Dow Jones index decreased by 0.11 percent, the S&P 500 index decreased by 0.54 percent and the Nasdaq index decreased by 0.84 percent. Index futures contracts in the USA started the new day with a negative trend.
  • While a sales-oriented trend was observed in Europe yesterday, except for Germany, the Producer Price Index (PPI) data in the Eurozone, as well as the service sector and composite PMI data to be announced throughout the region today, became the focus of investors.
  • Yesterday, the DAX 40 index in Germany increased by 0.04 percent, the MIB 30 index in Italy decreased by 0.05 percent, the CAC 40 index in France decreased by 0.18 percent and the FTSE 100 index in the UK decreased by 0.22 percent. Index futures contracts in Europe started the new day with a negative trend.
  • While a negative trend prevails in Asian stock markets, we see that the macroeconomic data announced today in China has reduced the selling pressure.
  • While the Reserve Bank of Australia kept the policy rate constant at 4.35 percent, the dovish tone in the statement made by the bank attracted attention.
  • A barrel of Brent oil is traded at $78.06 in international markets.

Technology and Stocks

  • With the impact of the rise in Bitcoin, the shares of Marathon Digital and Riot Platforms, two cryptocurrency mining companies, gained more than 8 percent in value yesterday. Shares of cryptocurrency exchange Coinbase also increased by more than 5 percent.
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