MARKETS DAILY: Crypto Update | Bitcoin Soars Above $37K While Ether Hits a Symbolic $2K. Here's Why

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4.7 • 698 Ratings

🗓️ 9 November 2023

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores the factors behind today's crypto market moves, a new big-name crypto exchange, bitcoin fees, GDP growth and more. Today's episode is sponsored by CME Group and PayPal. To get the show every day, follow the podcast here. Today’s Stories: Bitcoin Call Skew Hints at Further Price Rise as Spot ETF Optimism Energizes BTC GDPNow - Federal Reserve Bank of Atlanta Deutsche Börse to launch cryptocurrency exchange in 2024 - Ledger Insights - blockchain for enterprise Bitcoin Fees Soar Nearly 1,000% Since August as Ordinals Are Back in Vogue KuCoin and Gate exchanges to list BRC-20 memecoin Sats | The Block - From our sponsors: CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. Participate in The Crypto Classic: Cryptocurrency Futures and Options Trading Challenge from Dec. 10-15 for the chance to win cash prizes. Compete against your peers while test-driving strategies for Bitcoin and Ether futures and options trading in a risk-free simulated environment. Visit https://www.cmegroup.com/cryptoclassic to find out more. Disclaimer: This communication is not directed to investors located in any particular jurisdiction and is not intended to be accessed by recipients based in jurisdictions in which distribution is not permitted. The information herein should not be considered investment advice or the results of actual market experience. Past results are not necessarily indicative of future performance. Trading derivatives products involves the risk of loss. Please consider carefully whether futures or options are appropriate to your financial situation. - PYUSD, a stablecoin made for Payments. 1USD = 1PYUSD. Introducing PayPal’s new digital currency, PayPal USD (PYUSD), a stablecoin backed by U.S. dollar deposits, U.S. Treasuries and similar cash equivalents. Buy, sell, hold and transfer it in our app or site and explore Web3 with a payments brand that has been trusted for over 20 years. Get started now at paypal.com/pyusd. - This episode was hosted by Noelle Acheson. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl. All original music by Doc Blust and Colin Mealey. Summary Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores the factors behind today's crypto market moves, a new big-name crypto exchange, bitcoin fees, GDP growth and more. 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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0:00.0	This episode of Markets Daily is sponsored by CME Group and PayPal.
0:09.2	It's Thursday, November 9th, 2020, and this is Markets Daily from CoinDesk.
0:15.9	My name is Noel Acheson, CoinDisc collaborator and author of the Crypto's Macronow newsletter on Substack.
0:21.8	On today's show, we're talking about a new big-name crypto exchange, Bitcoin fees, GDP
0:27.7	growth, and more.
0:33.3	So you don't miss an episode, be sure to follow the podcast on your platform of choice and
0:38.0	turn on notifications. And just a reminder, CoinDesk is a news source and does not provide investment
0:43.5	advice. Now, a market's roundup. The crypto market is surging, with Bitcoin at one point
0:51.3	today almost reaching $38,000.
1:00.0	According to Coin Desk indices, at 10 a.m. Eastern time this morning, the Bitcoin price was up 6.8% over the past 24 hours, trading at $37,604.
1:08.0	Ether is up a stunning 8.5% breaking through the symbolic $2,000 level to trade at $2,036.
1:18.0	Other assets are doing even better.
1:20.4	Chainlink is up 14%.
1:22.5	Salana up 10%, Cardano, 9%.
1:25.6	Polygon and Avalanche are up 8%.
1:28.2	What is behind this strong sentiment?
1:31.5	ETS speculation seems to be doing its part?
1:34.2	As of today, the public rebuttal period for most of the existing Bitcoin Spot ETF proposals
1:39.5	has closed, which means a comment from the US Securities and Exchange Commission
1:43.6	could come at any time.
1:45.3	And next Friday is the deadline for an SEC decision on the hashtag's strategy change proposal
1:50.7	to convert its Bitcoin futures ETF into one based on the actual asset.
	...

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