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⚡️Daily analysis of the cryptocurrency market from open and closed sources. @Disclaimer_information @PaidPromotion_only @Insider_Private Channel owner:- @MrBybit
The US government now spends just as much on interest payments as it does on defense expenses.
The latter defends our country, while the former destroys it.
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#Top_Overnight_News
Share buybacks on mainland China’s biggest exchanges have soared to a record high this year as Beijing pushes for companies to return cash to shareholders as part of its efforts to revive a flagging stock market. There have been Rmb235bn ($33bn) in buybacks across mainland-listed shares so far in 2024, more than double last year’s total and far surpassing the previous record of Rmb133bn in 2022, according to Chinese financial data provider Wind. FT
U.S. rules that will ban certain U.S. investments in artificial intelligence in China are under final review, according to a government posting, suggesting the restrictions are coming soon. RTRS
China’s youth unemployment rate dips in Sept to 17.6%, down 120bp from 18.8% in August. CNBC
HSBC’s cost-cutting shakeup intensified. The lender said it will combine its global commercial and institutional banking operations, and create a new International Wealth and Premier Banking business. Pam Kaur was named as CFO. BBG
Israel is apparently considering an Egyptian proposal for a 2-week ceasefire in with Hamas in Gaza that could potentially build into a more permanent deal. NBC News
Federal Reserve Bank of San Francisco President Mary Daly said she expected the US central bank would continue cutting interest rates to guard against further weakening in the labor market. BBG
The US Securities and Exchange Commission’s examiners will step up scrutiny of financial firms’ use of artificial intelligence next year, the latest sign of regulators’ growing concerns about the emerging technologies. BBG
US drinkers are continuing to cut back on their vodka, whisky and tequila intake in a sign that, despite the improved economic environment, consumers are finding higher prices hard to swallow. FT
GM shares jumped premarket after signaling solid US demand for its highest-margin vehicles, and raising the low end of its profit forecast. GE Aerospace reported a profit jump and raised its full-year guidance as the jet-engine maker capitalizes on its strong order book. BBG
Fed's Daly (2024 voter) said the Fed will continue to adjust policy and a 50bps cut was to right-size policy, while she expects additional cuts going forward. Daly said the recent Fed rate cut was a close call and she came down strongly in favour of a 50bps cut, as well as noted that a 50bps cut was needed and they didn’t want to find out they had overtightened and taken jobs from people. She also said they will be data-dependent for the Fed's November meeting and haven't seen anything so far that would suggest they would not continue to cut rates, while she noted policy is absolutely still tight and would want to be open-minded to continue to ease policy if inflation is falling, even if the economy is strong.
Fed's Schmid (2025 voter) called for a cautious, gradual and deliberate approach to rate cuts, while he prefers to avoid outsized rate cuts and noted that they are seeing a normalisation of the labour market, not a deterioration. Furthermore, Schmid said current policy is restrictive, but not very restrictive, as well as noted the balance sheet is probably influencing longer-term rates and that they should be normalising the Fed's balance sheet on both size and duration.
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This is what happens when your budget deficit isn't 6% of your GDP: 47% of European companies reported results below expectations while only 27% delivered beats
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Institutional ownership of U.S. #Bitcoin Spot ETFs is around 20%, with asset managers holding 193K BTC (per Form 13F filings).
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💸😃😗😳😔
🇺🇸U.S. STOCK FUTURES TUMBLE, VIX JUMPS AMID RATE FEARS, ELECTION UNCERTAINTY
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🔹 ETF flows picking up speed
🔹 Election + infinite deficits
🔹 China’s economic stimulus
🔹 Global rate cuts (Fed, ECB)
🔹 Halving supply shock incoming
🔹 Whales stacking up
🔹 New FASB accounting rules
🔹 $BTC options on ETFs
🔹 FTX repayments fueling the fire
The perfect storm for $BTC
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Trump is now leading Harris by 27.5%!
This is super bullish for #Bitcoin 🚀
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South Korea’s largest cryptocurrency exchange, Upbit, announced that it will list UNI on its KRW and USDT markets, with trading set to open at 15:00 on October 22（UTC+8）. Previously, Upbit had already listed the UNI/BTC trading pair. Following this announcement, UNI saw a short-term increase of over 5.2%, with the current price at $8.31 and FDV of $8.31 billion.
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BlackRock bought 4,869 #Bitcoin
Only 450 $BTC were mined
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On October 21, Bitcoin spot ETF had a total net inflow of $294 million, continuing its net inflow for 7 consecutive days. BlackRock ETF IBIT had an inflow of $329 million. Ethereum spot ETF had a total net outflow of $20.7993 million.
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🚨JUST IN: BlackRock buys another 423 $BTC (~$28.4 million)!
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The US Federal Reserve's Kashkari has just said:
Very few transactions happen in crypto, unless its for drugs or illegal activity.
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The Crypto Fear & Greed index is sitting back in the Greed territory after sitting in Fear just about a week ago.
This shows you how quick the market can move and especially the participants' emotions.
While this isn't a metric to base decisions of, it never hurts to watch.
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APOLLO'S SLOK SEES RISING CHANCE FED WILL HOLD RATES IN NOVEMBER
Tortsten Slok, Chief economist at Apollo Global Management, said the chances the Fed will leave rates unchanged in November are mounting as the US economy powers ahead. Swaps price less than a quarter-point Fed rate cut at next month.
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#TheMoonCarl
#Ethereum broke out of this symmetrical triangle on the Daily! The next stop could be $3,400 🎯
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#CryptoMichNL
The moment that $LINK wakes up is usually a signal that the markets are eager for some #DeFi momentum.
A good weekly candle is starting to fire for #Chainlink, but, by all means, it's nothing special.
Let's break 2000 sats and then we can be happy.
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It took 221 years for the US to create the first $12 trillion of national debt.
We added another $12 trillion of debt in the last 5 years.
Insane.
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Silver $34.50, new 12 year high
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Avalanche $AVAX Launches Visa Card for Crypto Payments⚡️
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#StockmoneyL
#BTC_Update
65k-67k should be the third higher low (HL) coinciding with the retest of the upper resistance/support line.
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🔥BULLISH: Retail #Bitcoin demand jumps 13% in 30 days, signaling lower risk aversion as $BTC price rises
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🇨🇳CHINA WEALTH FUND SELLS RECORD $29 BILLION OF BONDS THIS YEAR
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Ripple co-founder Chris Larsen said on Monday that he has donated another $10 million worth of XRP to support Vice President Kamala Harris's campaign for the US presidency. Previously, Larsen donated $1 million worth of XRP through the same organization in August. — link
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Exchanges BTC Long/Short Ratio 1H
👀
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You can't make this up:
Total US debt has jumped by $473 BILLION over the last 3 weeks alone, to a record $35.8 trillion.
This means the US has taken on $1,450 of debt for EVERY American over the last 3 weeks alone.
It also means that the US now holds a record $103,700 of debt for every American.
In 2024, the US paid a total of $1.16 trillion of interest on this debt in its first year above the $1 trillion mark.
In interest alone, the US paid $3,360 for every American during fiscal year 2024.
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Bitcoin's average blocksize is currently 1.62MB 👀
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#CryptoMichNL
Even though #Bitcoin is ranging around the ATH's, the activity on whales is increasing and they are buying more.
In essence: that's a great sign for #Bitcoin, but a terrible sign for the global economy.
What can we expect?
- I think we'll see #Bitcoin run to $300-500K.
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Silver prices are skyrocketing:
Silver prices spiked 6.8% on Friday and closed above $33 for the first time in 12 years.
Silver has rallied in 5 out of the last 6 weeks and is now up 41% year-to-date.
This is an even better performance than gold which just crossed $2750 for the first time in history and is up 32% this year.
In effect, silver is on track for its 5th best year this century.
Gold and silver are trading as if an economic crisis is emerging.
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Gold's market capitalization has hit a record $18.4 TRILLION.
Since 2019, the market value of gold has officially DOUBLED.
This comes as gold prices surpassed $2,750 for the first time in history and are up 33% year-to-date.
By comparison, the market cap of the US stock market is ~$57.0 trillion, or 3 times higher.
At the same time, Bitcoin’s value is ~$1.4 trillion, or 13 times lower.
Gold is making history.
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#Liquidations 🔥
🔴In the past 24 hours , 66 155 traders were liquidated , the total liquidations comes in at $202.00 million
🔴The largest single liquidation order happened on Binance - ETHUSDT value $11.96M
⚠️ Never invest more than what you can afford to lose.
⚠️ Don't try to make quick money.
⚠️ High Leverage does not give you more money
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