
Digital Assets Morning Call: July 11, 2022
Bitcoin and traditional financial assets have factored in some amount of risk Bitcoin’s drawdown from the November high is near those of other major pullbacks
The Digital Assets (DA) Morning call is a brief rundown of the latest developments impacting digital assets through a macro lens.
Bitcoin and traditional financial assets have factored in some amount of risk Bitcoin’s drawdown from the November high is near those of other major pullbacks
Major crypto tokens constructive price action; FTX keeps purse strings open Bitcoin and Ether constructive price action aided by improvement in risk assets Outlook for
US dollar gains concur with Bitcoin’s struggles Ongoing shifts in the global macro outlook are generating significant moves in fiat currencies Weaker global growth and
Shifting economic narrative an important input for crypto markets Concerns about economic growth becoming more prominent… …reflected in the dramatic decline in market interest rates
Renewed crypto token slippage alongside less helpful news flow Bitcoin and Ether decline leaves them in closer proximity to recent lows Crypto hedge fund reportedly
US recession forecasts may need to be brought forward Modest slippage leaves major crypto tokens in recent range Eurozone inflation mixed but keeps ECB tightening
Crypto and traditional finance on the same platform? Press reports indicate FTX may buy Robinhood SEC Chair Gensler comments on crypto security/commodity designation Tether responds
Bitcoin and Ether hold up despite negative news flow Crypto token prices extend stability into the new week Negative news flow continues… …but crypto token
Tentative stability in bitcoin and ether; a weaker outlook for global economic growth Price action in bitcoin and ether stabilizes, but does not induce confidence
Stepping up to address crypto lending stresses Macro conditions remain difficult but are now better reflected in lower crypto token prices FTX credit facility to