The U.S. session just opened, and tonight’s market action feels a little tangled.
Spot ETFs for $BTC and $ETH have seen October outflows approach $1 billion. No wonder institutions are pulling back: the odds of a 25-basis-point rate hike in December have climbed to 75.5%. With the 10-year Treasury yield seemingly about to hit 6%, why not just sit back and collect risk-free interest? Add oil tankers hitting mines in the Strait of Hormuz and oil prices taking off, and risk assets are getting hammered across the board.
But another piece of news strikes me as much more significant: two major Russian banks have opened up BTC, ETH, and USDT trading to 140 million customers. This kind of regulated, nationwide on-ramp matters a lot more than a few days of ETF outflows.
Projects are also stepping up their value-capture game. PYTH is using 100% of its product revenue to buy back tokens, while APT is going even further—locking up 210 million tokens and halving staking rewards.
My view is simple: short-term rate pressure is definitely painful, but adoption is accelerating. Don’t sell your tokens on the cheap in a panic.
NFA DYOR
#比特币 #以太坊 #ETF #美联储 #CryptoMarket
Spot ETFs for $BTC and $ETH have seen October outflows approach $1 billion. No wonder institutions are pulling back: the odds of a 25-basis-point rate hike in December have climbed to 75.5%. With the 10-year Treasury yield seemingly about to hit 6%, why not just sit back and collect risk-free interest? Add oil tankers hitting mines in the Strait of Hormuz and oil prices taking off, and risk assets are getting hammered across the board.
But another piece of news strikes me as much more significant: two major Russian banks have opened up BTC, ETH, and USDT trading to 140 million customers. This kind of regulated, nationwide on-ramp matters a lot more than a few days of ETF outflows.
Projects are also stepping up their value-capture game. PYTH is using 100% of its product revenue to buy back tokens, while APT is going even further—locking up 210 million tokens and halving staking rewards.
My view is simple: short-term rate pressure is definitely painful, but adoption is accelerating. Don’t sell your tokens on the cheap in a panic.
NFA DYOR
#比特币 #以太坊 #ETF #美联储 #CryptoMarket