Connect with us

Crypto News

Inflation Concerns Overshadow CPI Boost? | by Secure Digital Markets | Coinmonks | May, 2023

Secure Digital Markets
Coinmonks
Photo on The Hill
S&P 500 futures pulled back from the resistance of 4,167.
S&P 500 futures pulled back from the resistance of 4,167.

The regional banking industry is currently experiencing trouble, evidenced by PacWest declining by 20%+ in pre-market trading.

S&P 500 futures pulled back from our resistance of 4,167. The next target to the downside would be 4,113 & 4,070 in extension.

Bitcoin traded lower since briefly breaking above $28,000 following the US CPI figures.
Bitcoin traded lower since briefly breaking above $28,000 following the US CPI figures.

Following the US CPI figures boosting risk assets, bitcoin was able to briefly break the $28,000 mark. Inflation remained higher than the Fed’s 2% target which didn’t sit well with market participants as both cryptocurrencies & stocks have traded lower since that pivot high.

ETH’s performance following significant transfers has been positive since 2018.
ETH’s performance following significant transfers has been positive since 2018.

The Ethereum Foundation transferred 15,000 ETH to Kraken in the previous week. Despite the sell pressure, historical data indicates that ETH’s performance following significant transfers has been positive since 2018:

– Avg. 30-day return: 10%
– Avg. 60-day return: 32%

Cosmos’ ATOM has witnessed an uptick in tweet and trade volume recently.
Cosmos’ ATOM has witnessed an uptick in tweet and trade volume recently.

Cosmos’ ATOM has witnessed an uptick in tweet and trade volume recently. Since May 8th, tweet volume has jumped by 100% while trade volume surged by over 300% in the same time period.

Secure Digital Markets (SDM) is a digital asset brokerage operating on a global scale providing OTC cryptocurrency spot trading and crypto-backed lending services to institutional, high net-worth, and corporate clients across 60+ international markets. We offer a custom pathway to digital asset liquidity and off-exchange transactions. SDM streamlines the acquisition, storage, and liquidation of digital assets in a secure and compliant manner.

Our clients use our services to unlock liquidity and take advantage of current opportunities in the market. Visit our website today to learn more about our services and how SDM can help you to maximize your digital assets.

#Inflation #Concerns #Overshadow #CPI #Boost #Secure #Digital #Markets #Coinmonks

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *