Morning Insights on Crypto Markets
You are accessing the Crypto Daybook Americas, designed to deliver a concise overview of key developments in the crypto world and a preview of what is anticipated in the days ahead. Subscribing to our newsletter will ensure you receive these insights directly to your inbox at 7 a.m. ET every morning.
Market Updates
Bitcoin remains relatively unchanged, appreciating only 0.6% over the past day, while the broader market, reflected by the CoinDesk 20 Index, saw a slight increase of 0.4%. Notably, gold has risen significantly, surpassing $3,500 per ounce for the first time, which has resulted in an expansion of the tokenized gold market that now exceeds $2.5 billion in valuation due to increasing concerns over growing government debts.
Additionally, yields on 30-year bonds in Japan have hit historic highs as the U.S. faces similar trends, raising concerns among investors.
Despite these shifts, Bitcoin’s volatility index is at 38.1, a low not seen since late 2023, indicating a cautious approach from traders. As investors watch the forthcoming U.S. jobs report, the overall sentiment towards crypto remains subdued.
Upcoming Events
-
Crypto
- Sept 3: Bitcoin starts regular trading on Nasdaq under the banner of American Bitcoin, with backing from Eric Trump and Donald Trump Jr.
- Sept 4: Polygon transitions its mainnet token from MATIC to POL. Action may be required for holders.
-
Macro Economics
- Significant releases from the U.S. Bureau of Labor Statistics are scheduled for Sept 3, providing key context for market movements related to employment figures.
Stay alert for developments as September typically brings volatility to the crypto sector!
