Nonco Market Color 3/27

Price action
*Not much movement yet on majors, prices sliding down slightly, still hovering below resistance. Right at the low end of the consolidation $BTC seems like it’ll rebound shortly and retest resistance. $ETH following suit, tapping 3490 support and buyers looking to enter. Alts look similar although with larger swings, around 10% for some. Memecoin season on $SOL is still active, although with a peculiar coin meta going on, still producing many multiples for most, days within launch.

ETF flow
*Top Bitcoin ETFs by volume today: $IBIT, $GBTC, $FBTC. 1.28 billion, 538m, and 394m respectively.
*HK Based asset manager VSFG and Value Partners apply for Spot $BTC #ETF
*Hashdex to begin trading its Spot $BTC ETF with ticker “DEFI”
*HK likely to allow in-kind creations for Spot $BTC ETF
*Yesterday, Bitcoin spot ETFs saw $418m net inflows

News
*Memecoin 'finfluencers' are falling under the UK's Financial Conduct Authority's regulatory spotlight
*US judge allows SEC claims that Coinbase failed to register as securities business, dismisses the claim against Coinbase’s Wallet application; SEC to continue with its case against Coinbase
*HSBC launches retail tokenized gold products in Hong Kong
*Munchables game got hacked by over 17k $ETH valued at $63m being this one of the biggest exploits of the year. Funds are now safe as per a recent update from the Munchables and Blast team.
*Equities have surged nearly 10% this quarter, outperforming bonds, but Goldman Sachs predicts pension funds will sell off $32 billion worth of stocks.
*After a sudden reversal in the final hour of trading yesterday, the S&P 500 struggled to maintain its upward momentum today. Leading names that have been driving the market upward faced selling pressure, with Nvidia Corp. being among the notable losers.
*Japan issued its sternest warning yet about potential intervention in currency markets as the yen weakened to its lowest level against the dollar in approximately 34 years.