Bank Woes, Weak Job Data Revive Investor Demand | Morning News English 3rd May P-1 | 3.0 Tv

In today's episode of Twidoro TV, we delve into the fascinating world of finance and digital assets. Brace yourselves for a rollercoaster ride of market movements, as we explore the recent developments that have been shaping the landscape.

Virtual Assets: The New Powerhouses

With a drop in share prices of two regional banks in the US and a weaker-than-expected job opening survey, investors are flocking towards assets that hold value. Unsurprisingly, virtual digital assets have emerged as the best-suited scenarios for navigating such uncertain times.

Bitcoin: Making a Comeback

Bitcoin, the largest cryptocurrency by market capitalization, has experienced a resurgence. After hovering around the $28,000 mark for most of the past day, it has now surged to around $28,563, representing a 1.8 percent increase. This comeback can be attributed to the stumble of two regional banks, Los Angeles-based Pathways Bangkok and Phoenix-based Western Alliance Bank, whose shares dropped to $27 and $15 respectively. Additionally, the unexpected rise in labor turnover and raw earnings supported the rally in Bitcoin.

Altcoins: Riding the Wave

Not to be outshined, the second-largest crypto by market capitalization, PTC, also experienced an upward trajectory. It edged higher by 1.66 percent, reaching a value of $1,863. The overall performance of the virtual digital assets market can be measured by the VDA Market Performance Barometer (IC15), which rose by 1.06 percent to reach 3,834 points.

A Global Crypto Market Surge

The global crypto market cap witnessed a significant rise of 1.48 percent, soaring to an impressive $1.18 trillion in just 24 hours. However, the total crypto market volume experienced a slight downturn, standing at $35.17 billion, representing a 12.51 percent decrease. Stable coins dominate the current market volume, accounting for $32.38 billion, which is a staggering 92.08 percent of the total crypto market volume.

Bitcoin, with its dominance at 46.95 percent, has shown an increase of 0.32 percent over the day, further solidifying its prominence.

Broader Market Movements

While the crypto market experienced a surge, the broader traditional markets witnessed some fluctuations. The S&P 500 traded down by 1.1 percent, while both the Dow Jones Industrial Average and the tech-heavy NASDAQ Composite dropped by approximately one percent. Bond markets also saw a shift, with the yield on the two-year treasury note, a gauge of near-term interest rate expectations, falling 16 basis points to sit at around 3.94 percent.

The FOMC Meet Outcome and Market Expectations

As we navigate through these market movements, all eyes are on the outcome of the FOMC meeting. The decisions made during this meeting will set the tone for broader market expectations. Currently, a 25 basis point rate hike is already discounted in prices, reflecting the anticipation and preparedness of investors for potential changes.

In conclusion, the world of finance and digital assets is a thrilling and ever-changing landscape. Today, we witnessed the resilience of virtual digital assets, with Bitcoin leading the way in making a comeback. As we continue to monitor market movements, it is essential to stay informed and adapt to the dynamic nature of the financial world.

Thank you for joining us on this exciting episode of Twidoro TV. Stay tuned for more updates and insights into the captivating world of finance and digital assets.