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Bullish Insights – Weekly Market Recap

Insights Dec 30, 2022 2 min read

The Bullish Insights Weekly Market Recap includes curated industry news and analysis from the Bullish team for the week of December 19, 2022.

Bullish Exchange

This week’s peak trade volume (24h):  December 29, 2022, $354,140,566 (21,392 BTC)

Crypto market highlights
  • Bitcoin dominance is at 42.0.
Macro market highlights
  • US equity markets closed on a mixed note in Tuesday's session after China announced the reopening of their borders set for January. The S&P 500 fell by 0.4%, the Dow rose by 0.1%, and the Nasdaq Composite retreated by 1.4%.
  • US equity markets took a downturn in Wednesday's trading session with the S&P 500 down by 1.2%, the Dow fell by 1.1%, and the Nasdaq Composite retreated by 1.4%.
  • US equity markets closed on a higher note on Thursday's trading session with the S&P 500 up by 1.8%, the Dow rose by 1.1%, and the Nasdaq Composite advanced by 2.6%. The yield on 10-year Treasuries declined by six basis points to 3.83%, gold futures fell to $1,824 an ounce, and Crude Oil Futures trading at $78.37 a barrel.
Other updates
  • Kraken announced that it will end its operations in Japan towards the end of January 2023. The exchange is set to deregister from the Japan Financial Services Agency, giving clients time to withdraw from the platform. (Source: Yahoo Finance)
  • The US Department of Justice (DoJ) launched an investigation into the hack behind FTX that drained over $370mn last month. (Source: Bloomberg)
  • Defrost Finance, a DEX on Avalanche, has announced that hacked funds will be returned to its users. In the update, the platform said that it would “…soon start scanning the data on-chain to find out who owned what prior to the hack in order to return them to the rightful owners.” (Source: Medium)
  • FTX Japan is set to resume customer withdrawals from mid-February and will begin returning customer assets. (Source: Bloomberg)
  • The Winklevoss twins are being sued under claims that the exchange Gemini was selling interest-bearing accounts and not registered as a security. (Source: Bloomberg)
  • The FBI is allegedly investigating 3Commas for the leak of 100,000 API keys of Binance and Kucoin users. (Source: Coindesk)

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