MARKETS DAILY: Crypto Update | Bitcoin Fundamentals Built This Rally, Even Before ETF Excitement, Says Simeon Hyman of ProShares

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CoinDesk

News, Tech News, Daily News, Business News

4.7 • 698 Ratings

🗓️ 10 January 2024

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

The latest price moves and insights with Jennifer Sanasie and guest Simeon Hyman, global investment strategist at ProShares. To get the show every day, follow the podcast here. "Markets Daily" kicks off a new format with a minute of market updates, followed by an interview with a rotating cast of market analysts across the crypto space. Today, host Jennifer Sanasie speaks with Simeon Hyman about the importance of keeping bitcoin value fundamentals in mind while watching price volatility on the potential spot bitcoin ETF approval, and where crypto assets fit in a modern day investment portfolio. This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montanez. All original music by Doc Blust and Colin Mealey. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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1:00.7	It's Wednesday, January 10th, 2024, and this is Markets Daily from CoinDesk.
1:04.8	I'm your host, Jen Sanassi, so let's dive in to those prices.
1:17.4	According to CoinDesk indices at 8 a.m. Eastern Time, Bitcoin fell 3.4% over the past 24 hours at $44,721.
1:30.4	And in some unexpected volatility, Bitcoin prices surged, then plummeted yesterday after the SEC's official X account posted a suspicious Bitcoin ETF approval causing confusion amongst traders.
1:34.7	The SEC then announced its account was compromised and affirmed.
1:38.1	The agency has not approved any spot Bitcoin ETFs.
1:44.9	Nearly $90 million worth Bitcoin long and short positions were liquidated in yesterday's rapid price moves.
1:50.8	Ether searched 3.9% in the past 24 hours, with traders betting on the possibility of an Ether ETF. As of 8 a.m. Eastern time, Ether was trading at $2,360.
1:57.0	Today's mover in the Coin Desk Market Index is Request, ticker, REQ, up 40% on the day.
2:04.7	In traditional markets, the NASDAQ was up around 0.1% yesterday, while the S&P 500 fell roughly the same amount.
2:12.1	And in commodities, the Brent Crude benchmark was trading at $78.49 a barrel.
2:21.3	Meanwhile, gold was trading at $2,030 an ounce.
	...

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