MARKETS DAILY: Crypto Update | Bitcoin vs. Ether Investment Theses
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 3 November 2023
⏱️ 14 minutes
🧾️ Download transcript
Summary
Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores market reactions to the employment data, gold buying, bitcoin vs. ether investment theses and more.
Today's episode is sponsored by CME Group and PayPal.
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Today’s Stories:
15 Years After the Bitcoin White Paper, Bitcoin Builder Culture Flourishes
Ethereum’s Dencun Upgrade Is a Step Toward a Scalable Settlement Layer: Goldman Sachs
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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.
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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.
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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 Friday, November 3rd, 2023, and this is Markets Daily from CoinDesk. |
| 0:15.5 | My name is Noel Acheson, CoinDesk collaborator, and author of the Crypto's Macronau newsletter on Substac. |
| 0:21.2 | On today's show, we're talking about market reactions to the employment data, gold buying, |
| 0:26.2 | Bitcoin versus Ether investment theses, and more. |
| 0:33.2 | Be sure to follow the podcast on your platform of choice and turn on notifications so you don't miss an episode. |
| 0:39.4 | Just a reminder, CoinDisc is a news source and does not provide investment advice. |
| 0:44.4 | Now, a markets roundup. |
| 0:46.8 | Cryptomarkets started off weaker today as traders caught their breath after some wild moves this week. |
| 0:52.8 | But then the US employment data turned things around, and prices started to claw back |
| 0:57.5 | some of the day's losses. |
| 0:59.4 | According to CoinDesk indices, at 9 a.m. Eastern time this morning, Bitcoin was trading |
| 1:03.6 | down 2.6% over the past 24 hours at $34,450. |
| 1:10.0 | Ether was falling by slightly less, down 2.1%, trading at $1,799. |
| 1:17.3 | Other corrections earlier today were even steeper. |
| 1:20.7 | Salana, whose year-to-date-up performance I spoke about yesterday, was down over 9%. |
| 1:25.8 | The flow token was down almost 7%. Sui's synapsin compound were down 6%. |
| 1:31.6 | In macro indicators, today was a big day for data releases. One of the most significant metrics |
| 1:38.8 | in terms of interest rate expectations is the US employment data. A stubbornly strong jobs market has kept consumption |
| 1:46.6 | high, which makes it harder to bring down inflation. Any signs of weakness in the job market |
| 1:52.4 | could be taken as a sign that the US interest rate hikes are finally starting to bite. |
| 1:58.0 | This is what we got today. The three key figures to watch are the increase in non-form |
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