Yesterday (28 May), Minneapolis Fed Chairman Kashkari made a hawkish statement: Although the possibility of raising interest rates is very low, he does not think this possibility can be ruled out, and it is expected that the number of interest rate cuts this year will not exceed 2 times. In addition, affected by the weak auction of US Treasury bonds, the yield of US Treasury bonds rose during the session, with the two-year and ten-year bonds currently at 4.956% and 4.564% respectively. The three major US stock indexes rose and fell, with the Dow Jones Industrial Average falling 0.55%, the SP 500 flat, and the Nasdaq closing up 0.59%.
Source: Investing
In terms of digital currency, we first focus on ETFs. Yesterday, GBTCs net outflow reached US$105.2 million, but at the same time, IBIT held up the market with an inflow of US$102.5 million. So far, the holdings of Bitcoin ETFs have ushered in a historic reversal moment. According to data recorded by HOLD 15 Capital, BlackRocks IBTC surpassed Grayscales GBTC yesterday to become the Bitcoin spot ETF with the largest net asset value.
Source: Twitter; Farside Investors
On the other hand, following yesterdays news, former Mt.Gox CEO Mark Karpeles said that Mt.Gox is operating normally and will not sell Bitcoin immediately; Galaxys head of research Alex Thorn also believes that most Bitcoin will be held rather than sold immediately, which once eased the markets panic over the breaking news and caused the price of the currency to slowly fluctuate back to a position close to 59,000. From the options, we can also see that the overall IV level of BTC has basically given up yesterdays gains, down 1-2% Vol, and RR has also rebounded. However, before todays settlement, the price suddenly plunged to around 67,700 in the short term, or the market is still cautious about possible selling pressure.
Source: TradingView
Source: Deribit (as of 29 MAY 16: 00 UTC+ 8)
Source: SignalPlus
Source: SignalPlus
Data Source: Deribit, overall distribution of ETH transactions
Data Source: Deribit, overall distribution of BTC transactions
Source: Deribit Block Trade
Source: Deribit Block Trade
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