ilqdty daily2 min readRead the latest
democrats won the house and the senate last night
asian tech stocks sold off on it, and crypto closed the night green anyway.
| Markets | Level | 24h | week |
|---|---|---|---|
| $BTC | 78,672 | +1.6% | -3.3% |
| $ETH | 2334.8 | +2.6% | -1.0% |
| $SOL | 94.1 | +1.3% | -8.1% |
| BTC.D | 59.9% | ||
| F&G | 34 fear |
01Crypto4 stories
- morgan stanley is putting US stocks and treasuries on a blockchain through wall street's central depository@CoinDesk
- tether's CEO says it holds 150,000 bitcoin, 50,000 more than its own report showsDecrypt
- french bank crédit mutuel arkéa allegedly lost over $133M in a crypto theft, ZachXBT saysThe Block
- binance's $6.3B hack started with fake linkedin job interviews, then its own AI toolFortune
02Macro3 stories
03Trends3 stories
- on solana, pumpfun took $1.61M in fees over the last day and the ten trending coins traded $63M combined
- on solana, $AMD (+45274%), a coin borrowing the chip maker's ticker, traded $14.6M at a $1.5M cap. $STONK (+15%) holds a $98.1M cap
- on hyperliquid, perps fees passed pumpswap, solana's biggest trading venue, over 7 days: $22.1M against $18.1M. over 30 days pumpswap still leads, $95.8M to $82.6MDefiLlama fees
04Today3 stories
- 8:15 ET, ADP's count of private hiring, the first read on jobs before friday
- 8:30 ET, the treasury says how much long-term debt it will sell, which moves the ten-year
- 10 ET, the ISM services survey, a health check on the biggest part of the US economy
05My view
polymarket had the democratic sweep as the favorite on monday, so the vote mostly confirmed the price. asia was the surprise. tech stocks there sold on AI spending fears the same night AMD's own numbers said that spending is still growing.
crypto went the other way, and im still bullish. bitcoin holds above $75,446, the average price strategy paid for its coins. big wallets on hyperliquid are still 16 short to 5 long on bitcoin, and they have to buy back if the drop doesn't come.
the risk i'm tracking is cash leaving crypto. stablecoin supply slipped to $295.1B from $297.7B on monday, so the new buyer has not shown up yet. friday's jobs report at 8:30 ET is the date that matters: a strong number makes a december hike almost certain.
three prints before lunch, then friday decides the week. lock in.