MARKETS DAILY: CoinDesk Markets Week in Review
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 23 February 2024
⏱️ 5 minutes
🧾️ Download transcript
Summary
CoinDesk Indices presents notable data insights from the week, followed by additional analysis from an industry expert.
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The CoinDesk Market Index (CMI) functions as a benchmark for the performance of the digital asset market, delivering institutional quality information to digital asset investors. Subsets of the CoinDesk Market Index (CMI) are investible CoinDesk Crypto Sectors and the CoinDesk 20 Index, designed to measure the performance of the top digital assets. Today’s takeaways are provided by Tracy Stephens, senior index manager at CoinDesk Indices with additional analysis from Michael Nadeau, author of "The DeFi Report." For more on CoinDesk Indices, visit: coindeskmarkets.com.
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This episode was hosted by Jennifer Sanasie and uses Wondercraft AI Voice. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:00.0 | Happy Friday, everyone. I'm Jen Sanasi, and you're listening to Markets Daily from |
| 0:09.1 | Coin Desk. On today's show, we are passing it over to Coin Desk Indecese for some weekly |
| 0:14.2 | market insights. This is Coin Desk Indices, and here is our Coin Desk Markets Week in review. |
| 0:19.7 | Let's look at some key digital asset |
| 0:21.6 | takeaways from the week ending September 6th with data from the 4 p.m. New York close on Wednesday |
| 0:27.6 | the 11th. And stick around. We'll have additional analysis from Marsen Kazmirchak, co-founder and COOOO of Redstone oracles. |
| 0:35.6 | The CoinDestk 20 index is near flat this week, |
| 0:39.3 | falling just 40 basis points over the seven-day period ending Wednesday. The index remains down |
| 0:45.1 | around 35% compared to its 2024 high of just below 2,800, which it reached in March following |
| 0:51.9 | SEC approval of SP Spot Bitcoin ETFs. |
| 0:55.0 | CoinDesk trend indicators that signal the price, strength, and direction of Bitcoin and Ether remain in negative territory. |
| 1:02.0 | The Bitcoin trend indicator has been insignificant downtrend for a duration of 14 days, |
| 1:08.0 | and the Ether trend indicator has been insignificant downtrend for a duration of 14 days, and the ether trend indicator has been insignificant downtrend |
| 1:12.4 | for a duration of 16 days. The primary macro drivers reflected by these downward trends |
| 1:18.2 | include chatter around an expected Fed rate cut next week and the fallout surrounding Tuesday's |
| 1:23.7 | U.S. presidential elections debate. Neither event appeared to elicit a positive response |
| 1:28.7 | from the crypto asset class. In other key news, the launch of a gray-scale trust allowing |
| 1:33.7 | investors access to ripple tokens was followed by almost an 8% spike in the price of XRP, as, |
| 1:40.6 | according to CoinDesk, it could pave the way for a ripple ETF in the future. |
| 1:45.0 | This was brought to you by Tracy Stevens from CoinDesk Indices. |
| 1:49.2 | Now, here is market analysis from Marsen Kazmirchak, co-founder and COO of Redstone Oracles. |
| 1:54.9 | In the past month, the crypto market experienced a decline in value, including a 5.5% drop in the price of Bitcoin and an 8.9% drop in |
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