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Markets Spike as Coronavirus Vaccine Trial Shows 90% Success Rate
Bitcoin and U.S. stock futures shot up on Monday after Pfizer announced positive results from a trial of its coronavirus vaccine.
Автор Omkar Godbole
Both bitcoin and U.S. stock futures shot up on Monday after a U.S. pharmaceutical giant announced positive results from a large-scale clinical trial of a coronavirus vaccine.
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Risk appetite improved as Pfizer said its experimental vaccine has been 90% effective in preventing infections in the ongoing trial, Bloomberg reported. The news raises hopes that there may soon be an effective treatment for COVID-19, which is again running rampant through regions such as the U.S. and Europe.
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CoinDesk data shows that as the news broke, bitcoin jumped from $15,500 to $15,840 in the 15 minutes to 12:00 UTC. That came as the futures tied to the S&P 500 surged over 100 points to reach a record high of $3,648, and Dow Jones futures rose 1,500 points.
Gold, meanwhile, fell from $1,950 to $1,900 as investors sold safe-haven assets amid the rally on Wall Street.
The coronavirus pandemic brought the global economy to a near standstill in the second quarter and its recent resurgence is threatening to derail the fragile economic recovery. The vaccine news, therefore, bodes well for growth-sensitive stocks and other risky assets.
While the S&P 500 futures continue to trade near record highs, bitcoin has erased gains to trade near $10,500.
The cryptocurrency's rally from October lows below $10,500 has stalled below $16,000 over the past couple of days. But on Sunday, a weekly close above last year's high opened the door for a continued rally toward bitcoin's $20,000 price record.
Read more: Bitcoin’s Weekly Close Above 2019 High Leaves Runway Clear to $20K
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Exchange Review - March 2025
CoinDesk Data's monthly Exchange Review captures the key developments within the cryptocurrency exchange market. The report includes analyses that relate to exchange volumes, crypto derivatives trading, market segmentation by fees, fiat trading, and more.
Ce qu'il:
Trading activity softened in March as market uncertainty grew amid escalating tariff tensions between the U.S. and global trading partners. Centralized exchanges recorded their lowest combined trading volume since October, declining 6.24% to $6.79tn. This marked the third consecutive monthly decline across both market segments, with spot trading volume falling 14.1% to $1.98tn and derivatives trading slipping 2.56% to $4.81tn.
- Trading Volumes Decline for Third Consecutive Month: Combined spot and derivatives trading volume on centralized exchanges fell by 6.24% to $6.79tn in March 2025, reaching the lowest level since October. Both spot and derivatives markets recorded their third consecutive monthly decline, falling 14.1% and 2.56% to $1.98tn and $4.81tn respectively.
- Institutional Crypto Trading Volume on CME Falls 23.5%: In March, total derivatives trading volume on the CME exchange fell by 23.5% to $175bn, the lowest monthly volume since October 2024. CME's market share among derivatives exchanges dropped from 4.63% to 3.64%, suggesting declining institutional interest amid current macroeconomic conditions.
- Bybit Spot Market Share Slides in March: Spot trading volume on Bybit fell by 52.1% to $81.1bn in March, coinciding with decreased trading activity following the hack of the exchange's cold wallets in February. Bybit's spot market share dropped from 7.35% to 4.10%, its lowest since July 2023.
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Dek: This article is created to test tags being added to image overlays
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- Ethena's USDe becomes fifth stablecoin to surpass $10 billion market cap in just 609 days, while Tether's dominance continues to slip.
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