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Analysis: Brent crude oil continues to stay above 100 dollars, macro pressures may limit Bitcoin's upward potential

CryptoQuant analyst Darkfost stated that due to the ongoing tensions in the Gulf region and Ukraine's increased attacks on Russian refineries, Brent crude oil prices remain above $100 per barrel. The rise in oil prices is transmitting through the global economy, pushing up production, service, and commodity costs, further permeating inflationary pressures into the economic system, and potentially increasing the risk of economic slowdown, thereby limiting market liquidity, especially for funds flowing into high-risk assets like Bitcoin.Darkfost pointed out that from a long-term trend perspective, when Brent crude oil remains above the annual average and enters a strong upward trend, BTC tends to show slower performance; conversely, when oil prices drop significantly, BTC is more likely to experience a recovery. However, he emphasized that this does not mean there is a simple direct causal relationship between oil prices and BTC; what truly affects risk assets is the macroeconomic environment accompanying high oil prices. In July of this year, oil prices briefly retreated, providing BTC with an opportunity to rise, but Brent crude has since rebounded significantly. Although funds may still rotate between different markets, driving BTC to continue its upward trend, the current macro environment is not conducive to sustained new liquidity flowing into the market.

first_img Evernorth's $132.2 million warrant registration has become effective, planning to list on NASDAQ under XRPN

Digital asset treasury company Evernorth Holdings, Inc. and SPAC company Armada Acquisition Corp. II announced that the U.S. Securities and Exchange Commission (SEC) has declared the S-4 registration statement related to their proposed business combination effective. This registration statement covers up to 11,499,992 shares of Class A common stock that may be issued and sold upon the exercise of warrants, calculated at an exercise price of $11.50 per share, corresponding to a scale of approximately $132.2 million.According to the arrangement, Armada shareholders registered as of August 20, 2026, will hold a special meeting on September 30, 2026, to vote on the transaction. If the transaction is approved and customary closing conditions are met, the combined company is expected to be listed on Nasdaq under the ticker symbol "XRPN," with the transaction anticipated to be completed by the end of the third quarter or the beginning of the fourth quarter of 2026. Asheesh Birla, founder and CEO of Evernorth, stated that the effectiveness of the registration statement is an important milestone in completing the proposed business combination.Evernorth is positioned as a digital asset treasury company aimed at building institutional-level XRP economic exposure, planning to deploy funds into the XRP ecosystem through strategies designed to enhance the per-share XRP holdings. Its investors include Arrington Capital, SBI Group, Ripple, Pantera Capital, Kraken, and GSR.

first_img Ripple Prime launched a 24-hour stock swap, HSBC warns of insufficient liquidity

Ripple's brokerage business Ripple Prime (formerly Hidden Road) announced that institutional clients can now trade swap contracts linked to over 100 stocks, commodities, and foreign exchange markets around the clock, using the USD stablecoin RLUSD issued by Ripple as collateral. These swap contracts track perpetual futures listed on the cryptocurrency derivatives exchange Hyperliquid by Trade.xyz, which have no expiration date and can be traded 24/7, allowing funds to build positions in assets like gold while traditional markets are closed. Ripple announced on October 15 that trading company Virtu is already using this service.HSBC's head of digital asset research, Daragh Maher, stated in a report sent to clients on Monday that this launch is "evolution rather than revolution." He wrote that it is a rapidly growing market but still far smaller than the traditional financial markets it tracks, and the product's appeal will be stronger only when the market has sufficient depth, allowing investors to express views and adjust risks while traditional markets are closed. HSBC expects early activity to focus on market makers, proprietary traders, and hedge funds seeking basis trading, rather than institutions looking for strategic hedging.The risks of weekend trading have already become apparent. Last Saturday, approximately $52 million in leveraged chip stock positions were forcibly liquidated within 10 minutes, with the sell-off spreading from Binance to Hyperliquid, while the underlying stocks were not trading, and the contracts lacked new stock market prices for reference. HSBC stated that Ripple's success depends on whether the service is cheaper, simpler, and can better utilize client collateral compared to existing brokers. The new swap business is offered under Ripple Prime's British Virgin Islands license, with plans to expand to more jurisdictions in the future.
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