CoinDesk Podcast Network
MARKETS DAILY: Crypto Update | Bitcoin Soars Above $37K While Ether Hits a Symbolic $2K. Here's Why
Nov 9, 2023
Noelle Acheson, the mind behind the Crypto Is Macro Now newsletter, explores factors behind crypto market moves, a new big-name exchange, bitcoin fees, and GDP growth. Topics also include options market sentiment, CME Group Trading Challenge, PayPal's stablecoin, and Deutsche Borsa's crypto-asset trading platform.
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Quick takeaways
- Bitcoin's recent surge is driven by ETF speculation, Bitcoin's safe haven status, and the upcoming SEC decision on Bitcoin spot ETF proposals.
- Deutsche Borsa's plan to launch a crypto-asset trading platform in 2024 indicates growing mainstream adoption of cryptocurrencies and tokenized assets in Europe.
Deep dives
Crypto Market Surges with Bitcoin and Ether seeing significant gains
The crypto market is experiencing a surge, with Bitcoin reaching almost $38,000 and Ether breaking through the symbolic $2,000 level. This strong sentiment is attributed to ETS speculation, the re-evaluation of Bitcoin's safe haven status, and the upcoming SEC decision on Bitcoin spot ETF proposals. The options market metric SKU also indicates bullish sentiment, with the premium of calls over puts at its highest level since April 2021.
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