It's Wednesday, February 7th, 2024, and this is Markets Daily from CoinDesk.

I'm your host, Jen Senassie. Let's dive into those prices.

According to Coin Desk indices at 8 a.m. Eastern Time, Bitcoin was treating up slightly on the day at $43,04.

Ether fared better up 2% at 2,371. And an update to an ether ETF, the U.S. SEC delayed a decision on a spot ETH ETF from Invesco and Galaxy.

The date to watch is still May 23rd.

Today's mover in the Coin Desk Market Index is Reddit's moon token down nearly 50% on the day.

And despite yesterday's five-hour outage, Solana's sole token is up 2% in the past 24 hours.

In traditional markets, again, the NASDAQ and the S&P 500 remained little changed in yesterday's

trading session. Lastly, in commodities, the Brent Crude Oil benchmark was trading at $79.9

a barrel. Meanwhile, gold was trading at $2,33 an ounce. For more on the

market's action, let's bring in Fairlead Strategies founder and managing partner, Katie Stockton.

First thing in the morning, we've got to talk about the markets. I've just unpacked what's

going on for Bitcoin and Ether

at least. Talk to me about what you're watching this morning. I mean, it's relatively subdued as a day

today in terms of volatility. However, we are watching very closely some key levels that are basically

in line with current levels. And so there's not much wiggle room is the way I would put it

for Bitcoin or for Ether in regards to support levels that we're watching. These are short-term

levels. They're not major levels. They're derived from our daily cloud model. It's a model called

Itchy Muku. It's a very popular among technical analysts, and it helps us

understand where there's support and resistance on the chart. Those are potential areas of buying and

selling pressure. And it also helps us understand the prevailing trend. And right now, it still does say

that the prevailing intermediate term trend is higher. It even says that the long-term

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