MARKETS DAILY: Crypto Update | Why Traders Should Watch Private Financing and M&A, With Elliot Chun
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 30 January 2024
⏱️ 12 minutes
🧾️ Download transcript
Summary
The latest price moves and insights with Jennifer Sanasie and guest Elliot Chun, partner at Architect Partners.
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On "Markets Daily," host Jennifer Sanasie speaks with Elliot Chun, partner at Architect Partners, about tomorrow's Federal Open Market Committee (FOMC) meeting and the most important mergers and acquisitions in crypto.
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 Tuesday, January 30th, 2024, and this is Markets Daily from CoinDesk. |
| 0:11.4 | I'm your host, Jens Nassie. Let's dive in to those prices. |
| 0:19.4 | According to Coin desk indices at 8 a.m. Eastern Time, Bitcoin was trading up 3% over the past 24 hours at $43,358. |
| 0:29.1 | Ether rose 2.2% over the same time period, sitting at $2,305. |
| 0:35.8 | Altcoin, Solana, and Avalanche's Avax have led the recent crypto rally, gaining 27% and 25% in the last |
| 0:44.1 | week. |
| 0:44.8 | Today's mover in the Coin Desk Market Index is LCX up 25% on the day. |
| 0:51.6 | In traditional markets, the NASDAQ was up 1.1% yesterday, while the S&P 500 rose |
| 0:56.7 | 0.76%. Investors are closely watching this week's FOMC meeting, with most predicting |
| 1:03.2 | rates will not be cut. This week also sees the release of earnings reports from tech giants, |
| 1:08.5 | including Microsoft, Apple, meta, Amazon, and Alphabet. |
| 1:13.2 | And in commodities, the Brent crude oil benchmark was trading at $81 and $27 a barrel. |
| 1:20.1 | Meanwhile, gold was trading at $2,036 in ounce. |
| 1:24.0 | For more on the market's action, let's bring in Architecture Partners Managing Partner, Elliot Chun. |
| 1:31.4 | Hey, Jen, how are you? Great to be here on a day when we had such positive market action. |
| 1:37.2 | I know. I just talked about those prices this morning. And I also mentioned that FOMC meeting we've been |
| 1:43.5 | asking our guests this week, |
| 1:45.5 | what they expect to happen at tomorrow's meeting? What's your perspective on the macro outlook right now? |
| 1:51.6 | I think we're going to start to signal hint at some rate cuts. I think we have moved pretty high |
| 1:57.9 | with interest rates here. I think digital asset and crypto markets have hung in, |
| 2:03.6 | regardless of what the interest rates are. I'd expect some initial signaling towards cuts later this year or into 2025. |
| 2:12.6 | And what does that mean for crypto markets? |
... |
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