MARKETS DAILY: Crypto Update | 'Wall Street Doesn't Understand Coinbase's Business Model,' Says Bitwise's Ryan Rasmussen
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 29 January 2024
⏱️ 14 minutes
🧾️ Download transcript
Summary
The latest price moves and insights with Jennifer Sanasie and guest Ryan Rasmussen, crypto research analyst at Bitwise.
To get the show every day, follow the podcast here.
Today on "Markets Daily," host Jennifer Sanasie speaks with Bitwise Crypto Research Analyst Ryan Rasmussen on the wide scope of assets Bitwise is watching across the crypto ecosystem, including layer 2s, crypto equities and bitcoin mining.
This episode was hosted by Jennifer Sanasie. “Markets Daily” is executive produced by Jared Schwartz and produced and edited by Eleanor Pahl, alongside Senior Booking Producer Melissa Montañez. All original music by Doc Blust and Colin Mealey.
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Transcript
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| 0:00.0 | It's Monday, January 29th, 2024, and this is Markets Daily from Coin Desk. |
| 0:11.1 | I'm your host, Jens Nassie. Let's dive into those prices. |
| 0:19.4 | According to Coin desk indices at 8 a.m. Eastern Time, Bitcoin was trading down slightly over the past 24 hours, |
| 0:26.1 | but up 5.5% on the week, trading at $42,079. |
| 0:31.1 | Ether also fell slightly on the day, sitting at 2,256 and was roughly flat on the week. |
| 0:37.3 | Today's mover in the Coin Desk Market Index is |
| 0:39.8 | storage, ticker, S-T-O-R-J, up 13% on the day. And in traditional markets, both the NASDAQ and the |
| 0:48.1 | S&P 500 fell slightly on Friday, but both were up week-to-week. U.S. traders eagerly await the outcome of this week's FOMC meeting. |
| 0:57.7 | Lastly, in commodities, the Brent crude oil benchmark was trading at $82.74 a barrel. |
| 1:04.5 | Meanwhile, gold was trading at $2,029 an ounce. |
| 1:08.7 | For more on markets action, let's bring in Ryan Rasmussen Cryptoanalyst at Bitwise. |
| 1:18.6 | All right, let's talk about those crypto markets. |
| 1:21.2 | What are you watching today? |
| 1:22.8 | You know, I think one thing you mentioned that everyone's watching is the results of the FOMC meeting this week. |
| 1:27.7 | That's going to have a big impact on which way markets move from a risk-on perspective. |
| 1:31.7 | So that's the main thing that I'm watching this week. |
| 1:33.6 | Of course, we're keeping an eye on the flows in and out of these Bitcoin ETFs. |
| 1:37.5 | That's still front of our mind a bit wise. |
| 1:39.5 | So those are the two things I'm thinking about. |
| 1:41.8 | What do you expect to see at the FOMC meeting? I think we'll |
| 1:45.4 | hold flat this FOMC meeting. There are expectations that rates could cut later on this year, |
| 1:50.6 | but I think right now in the first half of the year, really, I would expect us to just maintain |
... |
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