This morning, markets were still weighed down by last night’s hotter-than-expected U.S. October CPI. A December rate hike is almost fully priced in, and risk appetite just can’t recover. Some are already calling for $ETH to break 2,000 soon. @0xTaiBai wrote “The 2,000 that’ll kill you” last night, and @hellosuoha said this morning that the drop was brutal, blaming it on the foundation selling off—though that’s just his retelling, so take it with a grain of salt. $BTC What’s more annoying is that people are already speculating about whether MicroStrategy could be removed from MSCI. Suoha Morning News went straight to asking whether preparations are already underway. The review results weren’t out yet this morning. The guidance previously given was 5 p.m. Eastern today, which means they’ll be announced around 6 a.m. tomorrow. Prices were hovering around 72,800–72,900 last night. This morning, @whale_alert flagged a transfer of 1,000 BTC out of Crypto.com, worth about $73,700. Some said “it’s only down 15 points” (@Btc_kking), others called for 68,000 as the next stop (@IamRamenPanda), and some were asking whether it would break below 70,000. @PhyrexNi added the November 9 spot ETF figures: net outflows of about 2,853 BTC and 76,500 ETH, marking a third consecutive day of outflows for both. So far in November, around 20,500 BTC and 269,000 ETH have flowed out. Around 44,300 ETH were also transferred out of Coinbase Institutional in the early hours.
The genuinely urgent and frustrating news this morning was that the cross-chain protocol Across had its domain hijacked. CZ reposted the official statement: at around 2:45 a.m., the domain registrar Namecheap was hit by social engineering; across.to was taken over and a phishing page appeared for a time. The front end and API will remain shut until they’re secured. Anyone who may have been affected should message the official account and revoke their approvals. Suoha Morning News said affected users would be compensated. CZ also reposted an update from Binance Japan: GMO Aozora Net Bank detected unusual external communications and proactively suspended its API. Yen deposits and withdrawals through the bank are temporarily unavailable, but PayPay and docomo SMTB are still working.
On the macro front, voting members’ views were somewhat divided. @PhyrexNi wrote that Waller and Logan still supported a December hike after the CPI report. Logan thinks at least two more hikes are needed, totaling 50 basis points, and CME odds are already close to 100%. Bowman didn’t take a clear position, saying inflation is proving more persistent, but financial conditions have already tightened; PCE and employment data are still due before the December meeting. There was more trouble in the Strait of Hormuz: Iran said a third oil tanker had struck a mine and caught fire in the past 24 hours. Brent crude was back around $91. Suoha Morning News also tossed in a quick comment about SOL: after a few China trips, the price has fallen to 80. There’s no new consensus among the leading meme coins this morning. @WY_mask introduced the testnet faucet for Arthur Hayes’s new project, Flop Labs’ FLOP, describing it as an AI Agent-native currency with no presale and no VCs. @chartexpt wrote that MERL had bounced from around $0.30 to around $0.39, reaching its first target. For reference only, not investment advice.
The genuinely urgent and frustrating news this morning was that the cross-chain protocol Across had its domain hijacked. CZ reposted the official statement: at around 2:45 a.m., the domain registrar Namecheap was hit by social engineering; across.to was taken over and a phishing page appeared for a time. The front end and API will remain shut until they’re secured. Anyone who may have been affected should message the official account and revoke their approvals. Suoha Morning News said affected users would be compensated. CZ also reposted an update from Binance Japan: GMO Aozora Net Bank detected unusual external communications and proactively suspended its API. Yen deposits and withdrawals through the bank are temporarily unavailable, but PayPay and docomo SMTB are still working.
On the macro front, voting members’ views were somewhat divided. @PhyrexNi wrote that Waller and Logan still supported a December hike after the CPI report. Logan thinks at least two more hikes are needed, totaling 50 basis points, and CME odds are already close to 100%. Bowman didn’t take a clear position, saying inflation is proving more persistent, but financial conditions have already tightened; PCE and employment data are still due before the December meeting. There was more trouble in the Strait of Hormuz: Iran said a third oil tanker had struck a mine and caught fire in the past 24 hours. Brent crude was back around $91. Suoha Morning News also tossed in a quick comment about SOL: after a few China trips, the price has fallen to 80. There’s no new consensus among the leading meme coins this morning. @WY_mask introduced the testnet faucet for Arthur Hayes’s new project, Flop Labs’ FLOP, describing it as an AI Agent-native currency with no presale and no VCs. @chartexpt wrote that MERL had bounced from around $0.30 to around $0.39, reaching its first target. For reference only, not investment advice.