Good morning mates, happy Thursday! The headlines: BTC pulled back to ~$84k as the 10-year Treasury yield broke above 5.1%, its highest since 2007, but spot ETFs still took in over $2B this week Hyperliquid open interest hit a record $18B FTX estate moved $75M of ETH to Wintermute, one to watch if more tranches follow On the macro side, hot US data and hawkish Fed talk sent yields flying and stocks lower The big question today: does that $2B of ETF demand keep buying the dip, or does the yield shock win? Full breakdown live tonight, 7pm EST w/ @MktMates. See you there.
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