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BTC $77,316.46 +0.87%
ETH $2,125.94 +0.82%
BNB $642.47 +0.61%
XRP $1.37 -0.31%
SOL $84.66 +0.39%
TRX $0.3575 +0.72%
DOGE $0.1035 -0.17%
ADA $0.2489 +0.17%
BCH $367.25 -3.02%
LINK $9.52 +0.01%
HYPE $49.46 +3.39%
AAVE $87.41 -0.83%
SUI $1.05 +0.05%
XLM $0.1427 -1.49%
ZEC $582.75 +4.93%

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Wintermute: The macro narrative shifts towards interest rate hike expectations, highlighting the vulnerability of leverage in the crypto market

The latest market intelligence report released by the digital asset trading firm Wintermute shows that global financial markets are undergoing a large-scale macroeconomic repricing, with the market narrative shifting from discussions about the timing of interest rate cuts to preparing for potential rate hikes. This structural shift has been triggered by unexpectedly strong economic data and reignited inflationary pressures, creating significant headwinds for digital assets.The report notes that Bitcoin saw a sharp decline after briefly breaking through $83,000, giving back significant gains within a week, while mainstream alternative tokens experienced double-digit percentage drops. Global wealth managers are actively de-risking under macro constraints, highlighting the fragility of digital asset expansion. On-chain trading indicators suggest that the previous price increases were not driven by genuine spot market demand or organic retail accumulation, but rather primarily from short squeezes in the perpetual futures market.The total open interest in Bitcoin derivatives rapidly expanded by $10 billion to $58 billion within a month, while the underlying spot trading volume simultaneously fell to a two-year low. When Bitcoin broke through $80,000, a large number of short positions were forcibly liquidated, triggering a brief buying frenzy, but failed to establish a lasting structural bottom.The main driving factor behind the current market reversal is that global CPI data continues to exceed expectations, reigniting widespread concerns about interest rate hikes. At the same time, ongoing uncertainty surrounding the nomination of the next Federal Reserve chair has injected unpredictability into the market. Despite long-term positive signals, including a recent net inflow of $623 million into spot ETFs and Bitcoin reserves on trading platforms dropping to a seven-year low, Wintermute emphasizes that these long-term trends are insufficient to alleviate recent structural risks.As international asset managers shift capital towards short-term sovereign debt instruments, digital platforms are struggling to maintain momentum. The near-term outlook for the tokenized market will depend on whether genuine spot buyers return to stabilize the weak liquidity gap.

Verus: The network has been suspended, and if the attacker returns the funds, a bounty for the vulnerability will be offered

Verus posted on the X platform confirming that the Verus-Ethereum cross-chain bridge has been attacked, with ETH, USDC, and tBTC stolen from the Ethereum chain contracts. Currently, other bridged assets have not been affected. The Verus network has now suspended operations, and most block-producing nodes have proactively gone offline after experiencing the impact of the attack. The development team is working hard to investigate the scope of the incident, the attack path, and subsequent handling plans, and will announce progress after confirming more information.Verus stated that it is willing to cooperate with relevant law enforcement agencies to pursue legal responsibility; however, if the attacker returns the full amount of funds, the project team is willing to offer a bug bounty and will not pursue further accountability. Verus also reminds anyone claiming to be a member of the Verus team or community in public channels, private messages, or other channels and offering "compensation" or "reimbursement plans" to be scammers. The official emphasizes not to interact with anyone claiming to have compensation projects or offering reimbursement, and to report relevant accounts to Discord or the X platform in a timely manner.Previously, the Verus Ethereum cross-chain bridge was attacked, resulting in a loss of approximately $11.58 million.
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