Funding Rate Hunter — Morning Brief | Hot inflation, and crypto gets slapped first
CPI came in at 3.7%, hotter than expected, and the odds of an October rate hike shot up to nearly 50%. $BTC 81.8k fell 1.8%, while $ETH dropped more than 3%—even weaker than Bitcoin. BNB and SOL couldn’t hold up either, and liquidations topped $280 million.
More than 80% of contracts were down. The biggest gainer was $WAL , up 43%. Yesterday I said not to short it—and, well, I got lucky.
The EU has designated USDC as the first “significant” stablecoin under MiCA, making it harder for USDT to operate in Europe.
Tonight, keep an eye on US PPI. If 81k gives way, I’m staying on the sidelines.
#CPI #Bitcoin
(Not investment advice.)
Funding rates don’t lie. Want to save half an hour each morning on market checks? Follow for daily updates.
CPI came in at 3.7%, hotter than expected, and the odds of an October rate hike shot up to nearly 50%. $BTC 81.8k fell 1.8%, while $ETH dropped more than 3%—even weaker than Bitcoin. BNB and SOL couldn’t hold up either, and liquidations topped $280 million.
More than 80% of contracts were down. The biggest gainer was $WAL , up 43%. Yesterday I said not to short it—and, well, I got lucky.
The EU has designated USDC as the first “significant” stablecoin under MiCA, making it harder for USDT to operate in Europe.
Tonight, keep an eye on US PPI. If 81k gives way, I’m staying on the sidelines.
#CPI #Bitcoin
(Not investment advice.)
Funding rates don’t lie. Want to save half an hour each morning on market checks? Follow for daily updates.