Ether led a modest recovery among major tokens, while ZEC extended its slide and its U.S. fund posted the only outflow among crypto ETFs on Monday.
By Shaurya Malwa and James Van StratenMake preferred on Deel dit artikel20 minuten geleden· 8:18 a.m. EDTJames Van StratenDeel dit berichtBitcoin futures open interest has fallen to a year-to-date low
Bitcoin futures open interest has fallen to a year-to-date low. Open interest, the total value of outstanding futures contracts, is at 628,000 BTC, down from 763,000 BTC at the start of August, according to Coinglass data. Back then, bitcoin traded around $63,000 before climbing as high as $87,500 in mid-September.
Traders are heading into Q4, historically bitcoin’s strongest quarter, with less leverage in the market and retail interest still subdued.
20 minuten geleden· 8:18 a.m. EDTStephen AlpherDeel dit berichtThis bearish bond veteran is flipping bullish
“This is a value play,” Bianco Research founder Jim Bianco told Bloomberg. “If we start to see yields going higher, I’m going to continue to get in.”
“Everybody’s ridiculously bearish on the bond market right now,” Bianco continued. “I’m getting a big fat cushion for buying bonds at 5.2%. Now’s not the time to be losing your mind over it.”
The duration of an actively managed fund overseen by Bianco — the WisdomTree Bianco Total Return Fund — has risen to more than 6 years, exceeding the 5.7 years of the benchmark Bloomberg U.S. Aggregate Bond Index.
Bianco, for months, had been beating the drum that the Fed made a large policy mistake by commencing an easing cycle in September 2024. As proof, he said, bond yields have been steadily rising ever since — the opposite of what one might expect as short rates were brought down. With the Fed now in tightening mode and long-dated yields having spiked higher, the conditions might now be in place for a bond market rally.
30 minuten geleden· 8:09 a.m. EDTStephen AlpherDeel dit berichtCredit spreads begin to widen
Among the reasons the U.S. Federal Reserve was bullish enough on the economy to hike interest rates was the tightness of credit spreads.
While absolute yields have been volatile this year, Fed Chair Kevin Warsh and several of his colleagues said that yield spreads between different bond grades have remained narrow, suggesting little investor unease about the economic outlook.
That’s changed in the past two weeks, according to Bespoke, which noted a sizable widening in the spread between investment-grade and high-yield bonds.
2 uur geleden· 6:37 a.m. EDTJames Van StratenDeel dit berichtReserve Bank of Australia raised its cash rate by 25 basis points
The global rate hiking cycle continued on Tuesday as the Reserve Bank of Australia raised its cash rate by 25 basis points to 4.60%. Its fourth hike this year took the rate to its highest level since 2011. The RBA joins the Federal Reserve, Bank of Japan and European Central Bank in raising rates, while bond yields continue to climb globally.
2 uur geleden· 6:14 a.m. EDTShaurya MalwaDeel dit berichtBitcoin rebounds above $84,000 as spot ETFs add $31 million, ZEC slides 9%
Bitcoin rose 1% to just above $84,200 on Tuesday, finding buyers on dips to about $82,500 as the 10-year Treasury yield held near 5.25% after Monday's climb to its highest level since 2007, CoinDesk data show.
Ether led the majors, up 2% to nearly $2,720. DOGE added 3% and XRP 2%, while BNB, SOL and TRX each gained under 1%. HYPE slipped 1%. ZEC was the outlier, down 9% to about $1,423.
U.S. spot bitcoin ETFs took in about $31 million on Monday and ether funds about $17 million, according to SoSoValue, with SOL and XRP funds adding a combined $17 million. The lone U.S. ZEC fund posted the only net outflow, losing about $8 million.
"At the $2.87T level, cryptocurrencies are cautiously forming a rebound from last week's lows near $2.83T. However, as long as the market remains below $2.90T, it is technically in a short-term downtrend. The strengthening US dollar and uncertainty in the equity markets are adding to the unease," Alex Kuptsikevich, chief market analyst at FxPro, said in an email to CoinDesk.
"The short-term working scenario is that BTC has found support on a pullback to previous highs, having cooled off sufficiently following the growth momentum. A sustained bullish sentiment paves the way for new multi-month highs above $87K," he added.
