APEX's Weekly Market Wrap (26-30 June)
Here is a preview of the APEX Market Wrap, where the most relevant digital asset and stock market news is delivered to your inbox. You can expect updates and analysis across top asset classes, keeping up with rapidly changing economic conditions.
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Stocks at a glance
Stocks saw some gains from the week, over what seemed to be a quiet 5 days with certain global events taking the spotlight: attempted 'coup' in Russia to the French protests. Whilst some blue-chip stocks are up significantly since YTD, it was been reported that corporate bankruptcies and defaults are surging as economic landscape remains relatively bleak.
Cryptocurrencies at a glance
Bitcoin saw a relatively flat week after digesting news of inadequate information for the recent wave of Bitcoin Spot ETF filings. Ethereum which previously lagging has had a more impressive week as it hangs around $1925. Litecoin also enters the top 10 market cap after seeing a 22% gain across the week. Overall a mixed week as some alts still showing large downturns across the month as BNB is down more than 23%.
APEX's Chart of the week
After news broke out from the Wall Street Journal that the recent wave of Bitcoin Spot ETF fillings from asset mangers were deemed inadequate, bitcoin saw an hourly candle from highs of $31084 to lows of $2950 with about a volume of 6,600 btc within the hour on Coinbase. This was quickly brought back above $30,000 as further analysis showed that simple terminology was misused and that just reapplication was necessary. Whether this will go through to the end will be a call from the SEC which we will see in the coming months. After such a big vote of confidence with the likes of Blackrock and other large asset managers getting involved, if denied we can expect a sell-off.
APEX's Picture of the week
The photo of the week is of the recent French protests over the fatal shotting of a 17 year old boy during a stop. This has sparked large protests across France soon after recent unrest after the retirement age was increased without a general vote. The protest have been on for 4-5 days with widespread coverage on mainstream and social media as shops and cars are destroyed in what some are calling excessive vandalism. It is expected to cool down as family members of the victim are calling for justice and not excessive damage to cities.
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Disclaimer: Our content is intended as information only and not financial advice in any shape or form. Please do your own analysis before making any investment based on your personal circumstances. Please take independent financial advice from a professional in relation with, or independently validate and verify, any information that you find on this post and wish to rely upon, whether for the purpose of making an investment decision or otherwise.