MARKETS DAILY: Crypto Update | Crypto Markets Slump and a Potential Bitcoin Innovation

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4.7 • 698 Ratings

🗓️ 12 October 2023

⏱️ 11 minutes

🔗️ Recording | iTunes | RSS

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Summary

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores U.S. inflation reports, an intriguing bitcoin innovation called BitVM and more. Today's episode is sponsored by CME Group. Today’s Stories: EU Markets Regulator Warns of DeFi’s ‘Serious Risks’ Decentralised Finance in the EU: Developments and risks Bitcoin Might Get Ethereum-Style Smart Contracts Under ‘BitVM’ Plan - From our sponsors: CME Group Cryptocurrency futures and options provide market-leading liquidity for bitcoin and ether trading. These cash-settled contracts give full exposure to crypto performance without the hassle of holding the physical position. No digital wallet? No problem. Trade nearly 24/7 in a transparent, CFTC-regulated market. Visit cmegroup.com/crypto to learn 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. - 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. 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.
0:08.1	It's Thursday, October 12th, 2003, and this is Markets Daily from CoinDisk.
0:14.9	My name is Noel Acheson, CoinDisc collaborator and author of the Crypto's Macronow newsletter
0:19.6	on Substack.
0:27.1	On today's show, we're talking about the USCBI and intriguing Bitcoin innovation, and more.
0:36.7	So you don't miss an episode, be sure to follow the podcast on your platform of choice.
0:38.3	And just a reminder, CoinDesk is a new source and does not to follow the podcast on your platform of choice. And just a reminder,
0:45.1	CoinDesk is a news source and does not provide investment advice. Now, a markets roundup.
0:50.5	Crypto markets are weak today. According to CoinDesk indices at 8 a.m. Eastern time,
0:56.6	Bitcoin was down 1.6% over the past 24 hours, trading at $26,810.
1:02.0	Ether was down 1.7% trading at $1,550.
1:04.5	Other tokens were faring worse.
1:07.6	Avax and Maker were down over 4%. Solana down 3.5%.
1:09.5	Optimism down 3%. There's no catalyst that I can see for this
1:13.5	slump other than some concern that more high-profile regulatory actions may be forthcoming from
1:18.5	the US Securities and Exchange Commission. The overall macro environment is creating even more
1:24.0	investor uncertainty than usual, but any easing of U.S. rates expectations,
1:28.7	which we are indeed seeing,
1:30.5	should benefit the crypto market.
1:32.9	What's more, the U.S. dollar has been in a downtrend
1:35.3	since the beginning of October,
1:37.0	which should also be boosting the price of Bitcoin.
	...

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