Crypto Morning Brief | 10.13
Morning.
BTC surged to $84,254 on Monday before pulling back, at one point falling more than 2% intraday. An oil tanker was attacked in the Strait of Hormuz in the Middle East, while news of an energy ceasefire between Russia and Ukraine has yet to materialize, sending uncertainty soaring. Oil prices jumped to nearly one-month highs, with Brent at $107.25 and WTI above $94. Safe-haven sentiment has picked up, and inflation expectations are rising again, so keep a close eye on this week's CPI and PPI data.
Total market capitalization has climbed back above $4 trillion, up around 5.6% overall in the past 24 hours. About $216 million in positions were liquidated across the market in the past hour, mostly shorts.
Here are a few key points:
1. Binance has paid out $283 million in compensation to users affected by USDe's depeg. The “zero price” previously shown in spot trading was just a display bug; the assets had not actually fallen to zero.
2. Fed voting member Hammack said policy should shift toward a more restrictive stance, with a preference for smaller, more frequent rate adjustments.
3. The UK High Court ruled in the case involving Qian Zhimin (Blue Sky Gre...), finding that Chinese law applies to claims over 61,000 BTC. The funds involved are worth around £4.1 billion, and victims are unlikely to receive any subsequent appreciation in value.
4. The Financial Stability Board (FSB) warned that global stablecoins have not yet been tested in a period of severe market stress, and that cross-border regulatory oversight needs to be strengthened.
5. HKEX is listing Pando's second spot SOL ETF today, ticker 2831.HK, with a 0.6% management fee. It does not stake assets or use leverage.
On the trading front, QCP's view is that the options market is showing a mix of defensive and bullish sentiment. If the market can firmly break above and hold $87K, the next target is $94K. Sell orders worth around $180 million are stacked near $84,500, while buying support sits at $82,000.
The main events to watch this week are still Powell's remarks and the CPI data.
Morning.
BTC surged to $84,254 on Monday before pulling back, at one point falling more than 2% intraday. An oil tanker was attacked in the Strait of Hormuz in the Middle East, while news of an energy ceasefire between Russia and Ukraine has yet to materialize, sending uncertainty soaring. Oil prices jumped to nearly one-month highs, with Brent at $107.25 and WTI above $94. Safe-haven sentiment has picked up, and inflation expectations are rising again, so keep a close eye on this week's CPI and PPI data.
Total market capitalization has climbed back above $4 trillion, up around 5.6% overall in the past 24 hours. About $216 million in positions were liquidated across the market in the past hour, mostly shorts.
Here are a few key points:
1. Binance has paid out $283 million in compensation to users affected by USDe's depeg. The “zero price” previously shown in spot trading was just a display bug; the assets had not actually fallen to zero.
2. Fed voting member Hammack said policy should shift toward a more restrictive stance, with a preference for smaller, more frequent rate adjustments.
3. The UK High Court ruled in the case involving Qian Zhimin (Blue Sky Gre...), finding that Chinese law applies to claims over 61,000 BTC. The funds involved are worth around £4.1 billion, and victims are unlikely to receive any subsequent appreciation in value.
4. The Financial Stability Board (FSB) warned that global stablecoins have not yet been tested in a period of severe market stress, and that cross-border regulatory oversight needs to be strengthened.
5. HKEX is listing Pando's second spot SOL ETF today, ticker 2831.HK, with a 0.6% management fee. It does not stake assets or use leverage.
On the trading front, QCP's view is that the options market is showing a mix of defensive and bullish sentiment. If the market can firmly break above and hold $87K, the next target is $94K. Sell orders worth around $180 million are stacked near $84,500, while buying support sits at $82,000.
The main events to watch this week are still Powell's remarks and the CPI data.