MARKETS DAILY: Crypto Update | How Will Markets Handle Continued Turmoil?

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4.7 • 698 Ratings

🗓️ 9 October 2023

⏱️ 8 minutes

🔗️ Recording | iTunes | RSS

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Summary

Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores market turmoil – what triggered it and where it could go. Today's episode is sponsored by CME Group. Today’s Stories: Ethereum Has Become More Centralized Since the Merge and Shanghai Upgrades: JPMorgan Taiwan hopes to propose special crypto law by end of November: lawmaker | The Block Eastern Asia: Do Recent Hong Kong Developments Signal More to Come for China and Region at Large? - 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 Monday, October 9th, 2003, and this is Markets Daily from CoinDesk.
0:15.1	My name is Noel Acheson, CoinDesk collaborator and author of the Crypto is Macrono newsletter on Substack.
0:21.4	On today's show, we're talking about market turmoil, what triggered it and where it could go.
0:32.1	So you don't miss an episode, be sure to follow the podcast on your platform of choice.
0:37.2	And just a reminder, CoinDisc is a new source and does not provide investment advice.
0:43.0	Now, a markets roundup.
0:45.9	Unfortunately, we can't talk about markets without talking about the weekend's tragic events.
0:51.5	Yet another land war has broken out between neighboring territories after Hamas
0:55.8	invaded Israel on Saturday and as Israel swiftly retaliated. So far, reports are of a tragic
1:02.2	loss of life, as well as unimaginable terror. Our hearts go out to all those affected,
1:08.0	and our thoughts are with everyone trying to get through the next few days.
1:12.7	Markets are spooked, and this includes crypto.
1:16.1	At 8 a.m. Eastern Time this morning, Bitcoin was trading at $27,450, down almost 1.3% over
1:24.0	the past 24 hours.
1:26.1	Ether was down 1.8%, trading at $1,590. Sentiment has been hit by the uptick
1:33.7	in global market uncertainty and by expectations of a higher dollar. Moving on to signals in the
1:41.2	macro market, it remains to be seen whether the jump in geopolitical
1:45.3	uncertainty impacts the tone of Federal Reserve officials in coming days.
1:50.4	The strong U.S. jobs report on Friday sent expectations of another rate hike up, but
1:55.9	the weekend's events have brought them back down, as it is unlikely the Fed would want to
2:00.6	add even more tension
	...

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