A weekly report on some of the biggest moves in crypto markets, with commentary from industry experts.
Jobs data outperformed expectations on Friday, but the hawkish Fed showed no signs of wavering on rates.Cryptocurrencies traded marginally higher over the last week, despite a robust jobs report.
Markets will now look to next Thursday's inflation data as the Fed has fought inflation with rate hikes, and any sign that inflation is stemming may be taken positively by markets hoping for a Fed pivot. Still, a pivot is looking increasingly unlikely, especially as Neel Kashkari said the Fed is quite a way from pausing rate hikes.From Coinbase to Silvergate, Friday was a bad day for crypto stocks.
Jack Dorsey's Block fell more than 7.3% on Tuesday, trading at $57.41 at the the close on Friday, according to Nasdaq data via TradingView. Elsewhere, Silvergate was down 4.81% to $70.21, Coinbase shed 9.35% to trade at $67 and MicroStrategy was trading at $220.30, down 8.84%.
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