ilqdty daily2 min readRead the latest
bitcoin etfs took in $2.4B last week, enough to flip the whole year's flows positive
that happened with the ten-year at 5.208%, its highest since june 2007.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 84,887 | +0.6% | +4.5% |
| $ETH | 2710.4 | +0.5% | +2.4% |
| $SOL | 124.0 | +2.2% | +11.6% |
| BTC.D | 58.7% | ||
| F&G | 70 greed |
01Crypto4 stories
- binance signed a $100M five-year usdc deal and now runs 329 usdc markets@CoinDesk
- $SUI ran +38.9% on the week, the biggest move on the board by a wide margin
- the bitget hacker moved $83M of stolen $XRP that ripple has no way to freeze@CoinDesk
- the blockchain association's ceo quit with the clarity act stalled, and nothing looks likely to move on it before 2027@Cointelegraph
02Macro3 stories
03Trends3 stories
- solana's trending coins traded $163M between them in 24h and pumpfun collected $2.70M in fees@DefiLlama
- $e/acc gave it back, down 74% to a $4.7M cap on $42.2M of volume, while $PAID fell 41% at $27.2M and $STONK held green, +12% at $245.7M. the new one is $CAKE, +21762% on $14.1M of volume
- clanker on base jumped 34x to $150K in daily fees, edging past bonkfun on solana@DefiLlama
04Today3 stories
- monday the bank of japan publishes minutes from its july meeting, and bowman and barr give the first fed speeches since the hike
- wednesday brings august pce, the inflation gauge the fed actually uses, plus china's september factory surveys before golden week
- friday is the september jobs report, about 100K expected with unemployment at 4.2%
05My view
the money that left bitcoin etfs all year came back in a single week, and every major coin closed the week green. that buying arrived with borrowing costs back at 2007 levels, so nobody did it because money got cheap.
the risk is the long end, and it has dates on it. households told michigan they expect 4.6% inflation a year out, and the two prints that test that land wednesday and friday. hot on both and a second hike is back on the table. high-yield credit spreads already widened 10 basis points in five days, and that corner usually moves first.
what would flip my read is a week where the creations stop and the yield keeps going. i can't tell yet whether last week's buying was quarter-end work or real allocation, and early october answers it. buyers set the price last week. the question is whether they keep it.
sunday. pce wednesday, payrolls friday, and a quarter that ends in between. rest up, then lock in.