MARKETS DAILY: Crypto Update | Why Volatility Is Expected on Friday's Bank of Japan Rate Decision

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4.7 • 698 Ratings

🗓️ 27 July 2023

⏱️ 9 minutes

🔗️ Recording | iTunes | RSS

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Summary

Bitcoin and cryptocurrencies, in general, are sensitive to changes in global liquidity conditions. Today's episode is sponsored by Kraken Pro. Today's Stories: Meta Remains Committed to the Metaverse, Mark Zuckerberg Says FTX Founder Sam Bankman-Fried Won't Face Campaign Finance Charge, U.S. DOJ Says House Financial Services Committee Votes in Favor of Crypto, Blockchain Bills Bitcoin Mining Computing Power May Drop as Much as 30% After Halving: Experts Markets Links: BRN00 | Brent Crude Oil Continuous Contract Overview | MarketWatch First Mover Americas: BTC and ETH CME Futures See Record Participation From Big Traders Bitcoin Volatility Expected on Friday's Bank of Japan Rate Decision. Here's Why Yield Curve Control (YCC): Definition, Purpose, and Examples - From our sponsors: Meet the all-new Kraken Pro. The powerful, customizable, beautiful way to trade crypto. It’s Kraken's most powerful trading platform ever - packed with trading features like advanced order management and analytics tools — all in a redesigned, modular trading interface. Head to pro.kraken.com and trade like a pro. Not investment advice. Some crypto products and markets are unregulated. The unpredictable nature of the cryptoasset markets can lead to loss of funds and profits may be subject to capital gains tax. - This episode was hosted by George Kaloudis. “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 Cracken.
0:08.5	It's Thursday, July 27th, 2023, and this is Markets Daily from CoinDesk.
0:14.1	George Kluid is here again for your Daily News Roundup.
0:16.9	On today's show, we're talking Bitcoin, the latest headlines, and more.
0:20.5	And just a reminder, CoinDesk is a news source and does not provide financial advice.
0:32.1	Bitcoin and Ether are doing okay. Both are slightly up.
0:37.2	The CME's regulated Bitcoin and Ether futures saw record
0:40.6	participation from large traders in the second quarter. The number of large open interest
0:45.3	holders or entities holding at least 25 Bitcoin Futures contracts averaged a record 107 in the
0:51.3	second quarter. Ether's large open interest holders average 62 through the second quarter.
0:57.0	The CME Exchange said, quote,
0:58.8	Bitcoin Futures institutional interests continued to increase throughout the quarter
1:02.9	as investors sought regulated venues slash products
1:05.8	to hedge rising market volatility and manage risk and exposure.
1:10.6	In other market news, yesterday the Fed
1:13.0	moved interest rates up 0.25%, bringing the benchmark federal funds rate to a range between
1:19.2	5.25% and 5.5%. Crypto markets were largely unfazed. Traders love volatility because they can make money on these price swings, and Bitcoin
1:29.7	and crypto are simply not providing the market with that.
1:33.4	Even with the Fed and the European Central Bank raising rates, there were crickets.
1:38.3	And so I present you yet another possible source of volatility, the Bank of Japan.
1:45.2	Kandesk's Omkar-Gubali wrote this morning that Bitcoin volatility expected on Friday's Bank of Japan rate decision.
1:52.5	Here's why.
	...

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