Find out what’s going on in crypto

Bloomberg Market Specialist Stacy-Marie Ishmael contributed to this article. The original version appeared first on the Bloomberg Terminal.

Background

Cryptocurrency is mercurial. Because it is global, crypto can be influenced by breaking news or other significant developments in finance, politics and regulation ⁠— and in unexpected or unpredictable ways. Managing news coverage of a 24/7 asset class requires consistent monitoring.

The issue

One of the Bloomberg Terminal’s strengths is its ability to swiftly surface relevant and timely global news, research and data.

However, using filters that are too specific or geographically bound means you miss out on key events moving the market. Over the past 12 months, major crypto events include China cracking down on the currency, El Salvador making Bitcoin legal tender, several decentralized finance scandals, the rise of nonfungible tokens and the humanitarian response to Russia’s invasion of Ukraine.

Tracking

For a quick and immediate overview of the “why” behind any overnight price action, use {NSTM <GO>}. This command applies an additional level of structured insight to your preferred asset class, using machine learning to produce an at-a-glance snapshot of the top five themes in a given period ⁠— adjustable from the last hour to the previous three months.

Examples of common topics that {NSTM <GO>} might provide headlines about are Singapore’s latest regulatory proposals or Bitcoin miners setting up shop in Texas.

A common go-to search query is to enter “FRXDIGITAL” into the NSTM search field and click on the matching topic. Most users start with the filter that pulls in the top themes of the past eight hours. This is a nonstop asset class and one for which “range-bound” can mean “up or down 4%,” depending on the token in question.

For more information on this or other functionality on the Bloomberg Professional Service, click here to request a demo with a Bloomberg sales representative. Existing clients can press <HELP HELP> on their Bloomberg keyboard.