Standard Chartered predicts big rally in Ethena's ENA token. Traders await the Fed's favored inflation gauge after a month of oil-driven rate-hike bets that sent 30-year Treasury yields to their highest since 2002.
By Shaurya Malwa, James Van Straten, and Omkar GodboleMake preferred on この記事を共有2分前· 8:37 a.m. EDTStephen Alpherこの投稿を共有Bitcoin gains as yields dip following better than hoped inflation numbers
Bitcoin BTC$83,860.92 has jumped about 1% to $84,750 following August PCE inflation data that came in softer than economist forecasts.
The 10-year U.S. Treasury yield is lower by 4.2 basis points to 5.218%, and the 2-year yield is down 2.1 basis points to 4.868%.
U.S. stock index futures are higher by about 0.4% across the board.
5分前· 8:34 a.m. EDTStephen Alpherこの投稿を共有PCE inflation data better than forecast
The Personal Consumption Expenditures (PCE) price index rose 0.3% in August, according to a just-released government report. That’s up from 0.1% in July, but shy of forecasts for 0.4%.
On a year-over-year basis, PCE prices rose 3.4%, flat from July, but well below estimates for 3.7%.
Core PCE prices rose 0.2% in August, up from 0.1% in July, but beating forecasts for 0.3%.
Year-over-year core PCE prices were higher by 3%, flat from July, but less than estimates for 3.3%.
12分前· 8:27 a.m. EDTStephen Alpherこの投稿を共有ADP jobs report tops forecasts
The U.S. private sector added 90,000 jobs in September, according to the ADP Employment report.
That’s up from 36,000 in August and ahead of economist forecasts for 70,000.
Still to come in a few minutes is PCE price data for August.
Markets also await Friday’s main event, when the government reports its jobs data for September.
33分前· 8:05 a.m. EDTOmkar Godboleこの投稿を共有The main headwind for BTC right now is real yields, Bitfinex says
Real, or inflation-adjusted, yields on U.S. Treasury notes are a main headwind for bitcoin, according to analysts at Bitfinex.
The 10-year inflation-adjusted yield climbed to 2.83% from 2.68% in the week to Sept. 25.
A Treasury note offering nearly 3% inflation-adjusted returns raises the opportunity cost of holding non-yielding assets like bitcoin and gold.
37分前· 8:02 a.m. EDTOmkar Godboleこの投稿を共有Multicoin Capital invests in Grass, the read layer for machine intelligence
Multicoin Capital, a thesis-driven firm focused on cryptocurrencies, tokens, and blockchain companies, is investing in Grass, the read layer for machine intelligence, through its hedge fund and venture fund.
Grass has demonstrated commercial viability by generating significant revenue and achieving profitability, following its early success in supplying pretraining data for frontier AI labs through millions of residential connections, the announcement said.
The firm believes that Grassis positioned to become essential infrastructure for autonomous AI agents by launching specialized search and contents APIs to tap into the massive, recurring inference-time live context retrieval market.
59分前· 7:40 a.m. EDTOmkar Godboleこの投稿を共有The S&P 500's breadth worsens
Only 25% of S&P 500 stocks are now trading above their 50-day moving average, the lowest level since April 2, according to The Kobeissi Letter
This marks a sharp deterioration in market breadth from 70% in mid-August.
The crypto market is still in relatively good shape.
1時間前· 7:07 a.m. EDTJames Van Stratenこの投稿を共有Bitcoin and gold steady ahead of key U.S. inflation data
The main U.S. macro event for Wednesday is the release of PCE inflation data, the Federal Reserve’s preferred inflation measure. Core PCE, which excludes food and energy prices, is expected to rise 0.3% month over month and 3.3% year over year. GDP growth is expected to come in at 1.5% quarter over quarter.
Bitcoin and gold are slightly higher on the day, trading at $83,700 and just below $4,200 an ounce, respectively.
Markets currently price a 57% probability that the Fed will leave interest rates unchanged at its Oct. 28 meeting.
1時間前· 7:07 a.m. EDTOmkar Godboleこの投稿を共有Standard Chartered sees Ethena's ENA token rising to $2 by the end of 2028
Standard Chartered has initiated coverage of Ethena's ENA token with a price target of $2 by the end of 2028. That amounts to an increase of nearly 670% from the token’s going market price of 26 cents.
The bank said that Ethena benefits from the growing demand for yield-bearing stablecoins and the expansion of tokenized assets in both decentralized and traditional finance, while noting the rapid growth in its USDe stablecoin, which reached a market cap of $10 billion in its first nine months.
The bank also noted Ethena's buyback-and-burn program and said the USDe supply could grow to $40 billion by 2028, while mentioning slower adoption and weaker growth in real-world assets as potential risks.
1時間前· 6:52 a.m. EDTShaurya Malwaこの投稿を共有Gold needs a close above $4,200 to confirm a new rally, XS.com says
Gold is back near $4,200 an ounce. Simon-Peter Massabni, head of business development at XS.com, said in a note shared with CoinDesk that the level is where buyers betting on the broader uptrend meet sellers expecting a deeper pullback.
He wants a daily or four-hour close above $4,200 before calling a new leg higher.
In the short term, the Federal Reserve matters most. Gold pays no interest, so when markets expect rates to stay high, holding it gets more expensive compared with bonds and cash. That makes Wednesday's PCE inflation data the next test. A higher-than-expected reading "could trigger another wave of short-term selling pressure," Massabni said.
After PCE, attention turns to the monthly U.S. jobs report. A weaker-than-expected jobs number would ease bets on further rate hikes.
2時間前· 6:18 a.m. EDTShaurya Malwaこの投稿を共有Bitcoin stalls with PCE due and the buyers behind its rally thinning out
Bitcoin slipped 0.3% to about $83,700 early Wednesday, U.S. time. Traders are waiting on the personal consumption expenditures (PCE) price index, the Federal Reserve's favored inflation gauge, which is expected to show inflation quickened in August.
A higher-than-expected inflation reading would add to the bets on rate hikes that drove a bruising bond selloff this month. Brent crude rose above $103 a barrel and is up about 14% in September, even though Middle East crude flows are returning to pre-war levels. Treasuries steadied a day after 30-year yields hit their highest since 2002, and the dollar held near its highest since July.
Ether fell 0.7% to about $2,690. HYPE dropped nearly 2%, the worst among the majors, while XRP and TRX each added under 1%, according to CoinDesk data.
Onchain analysis firm CryptoQuant estimates that bitcoin's spot demand has shrunk by about 170,000 BTC over the past 30 days. Growth in futures demand has dropped 90% since Sept. 14.
Micron Technology reports after the U.S. close. Its results are a test for the AI-linked stocks that kept the S&P 500's losses in check through the bond selloff.
