The DXY is falling and the 10-year is down to 4.09, with investors pricing in a smaller rate increase from the Federal Reserve at the December meeting. Earnings reports from UPS and General Motors beat expectations, and while Tesla experienced a dip in price, creator Elon Musk’s share selling could be the cause rather than weak demand. In the digital asset market, there was a $5m outflow, but $4.6m went into Bitcoin, meaning the overall picture is positive for cryptocurrencies.
Good News for Investors: DXY and 10-Year Falling
Investors can rejoice as the DXY has been falling, with the overall markets pushing up based on this news. The DXY was up around 112, then fell down to 110.87 before bouncing back up to 111. It was at 115 just a week or two ago. Additionally, the 10-year has been falling to 4.09, down almost 0.15 just today. Investors are pricing in less of a rate increase from the FED in the December meeting, and this has pushed the markets up.
Earnings for Companies and News for Crypto
There have been several company earnings worth noting, such as UPS reporting revenue that fell short of expectations, but they beat on earnings per share and reaffirmed their full year guidance of 102 billion in revenue and an adjusted operating margin of 13.7%. General Motors also posted a large Q3 earnings beat, while Tesla fell due to lowering prices in China. In terms of crypto, Bitcoin is up 1.17%, and Ethereum is up nearly 4%.
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Digital Asset Fun Flow Weekly Report
According to the digital asset fun flow weekly report from Coin Chairs, there has been a total outflow of $5 million, but this is a bit misleading as there was an inflow of $4.6 million into Bitcoin. Additionally, money flowing out of shorting Bitcoin is actually positive for crypto and can be thought of as a reverse inflow. Overall, it’s good news for people investing in Bitcoin or taking away from shorting it.