Evening Crypto Update

What happened on the market today?

What is happening with Macro?

• Today started with the release of the latest S&P Global PMI data across major economies, including Manufacturing, Services and Composite readings for March.

• In the US, the flash composite PMI slipped to 51.4 from 51.9, with services easing to 51.1 and manufacturing improving to 52.4.

• Across commodities, the picture was mixed. Brent held above $100/bbl, while gold eased to around $4,468/oz after Monday’s sharp sell-off. Silver traded near $71.05/oz, while copper increased further to roughly $5.50/lb. At the same time, US Treasury yields moved higher, with the 2-year around 3.93%, the 10-year around 4.39%, and the 30-year still just below 5%.

What is happening with Crypto?

• Bitcoin was trading around $71.2K, up 1.1% in the past 24h, while Ethereum was near $2,148, also up roughly 1%. The latest available US flow data is still for 23 March, showing $167.2M of net inflows into spot BTC ETFs against $16.2M of net outflows from spot ETH ETFs.