# Сопутствующие статьи по теме Macro

Новостной центр HTX предлагает последние статьи и углубленный анализ по "Macro", охватывающие рыночные тренды, новости проектов, развитие технологий и политику регулирования в криптоиндустрии.

Is Solana’s drop below $100 start of something bigger? THIS data says…

Solana fell below $100 on February 2nd, reaching its lowest level since early April of the previous year, amid a broader crypto market decline driven by geopolitical tensions and macroeconomic uncertainty. Derivatives data showed a shift in trader sentiment, with Funding Rates turning negative, indicating increased short-selling pressure and a bearish bias. This pattern previously preceded a significant price drop in October 2025. However, on-chain data provided a contrasting signal, as daily Active Addresses increased by approximately 870,000 to 4.87 million, suggesting renewed user activity and potential underlying demand rather than widespread selling. SOL is currently caught between these conflicting signals—bearish derivatives positioning and improving network usage—with its near-term direction likely dependent on the persistence of seller control and whether the on-chain activity translates into sustained buying interest.

ambcrypto02/02 16:02

Is Solana’s drop below $100 start of something bigger? THIS data says…

ambcrypto02/02 16:02

Why are stablecoin balances falling? Binance outflows, risk-off mood and more…

Stablecoin balances are declining as capital exits crypto markets amid thinning liquidity and fading risk appetite. Following an initial $9.6 billion drop, outflows resumed with Binance accounting for over $3.1 billion, reflecting its role as a key liquidity venue. The reduction is driven by macro uncertainty, ETF outflows, and lower speculative activity. This weakens on-exchange liquidity and price momentum. Binance data shows significant net outflows, indicating a broad withdrawal from risk assets like Bitcoin and Ethereum, while stablecoins such as USDT see inflows, suggesting reallocation rather than full exit. Reversing the trend requires improved macro clarity and renewed incentives for capital deployment.

ambcrypto02/02 11:02

Why are stablecoin balances falling? Binance outflows, risk-off mood and more…

ambcrypto02/02 11:02

Delphi Digital Co-founder: Why Am I Bullish on the Cryptocurrency Market Outlook?

Delphi Digital co-founder Tommy outlines five key reasons for his bullish outlook on cryptocurrencies. He argues that if Trump influences the Fed to lower interest rates (especially with Truflation showing 1.2% inflation could accelerate capital rotation from low-risk assets like T-bills into crypto. The surge in gold and silver reflects deeper concerns about dollar debasement and fiscal health, which ultimately benefits crypto as a hedge. He also being optimistic about AI, believes much of the positive news is already priced in, and a shift in focus toward workflows and cost-effective local AI models may reduce hype for centralized AI stocks, freeing up liquidity for crypto. Additionally, he notes declining investor interest in quantum computing stocks, reducing a perceived threat to crypto. Finally, potential U.S. regulatory clarity, including the Clarity Act and supportive moves from the SEC and CFTC under a potential Trump administration, could provide significant tailwinds.

marsbit02/02 06:24

Delphi Digital Co-founder: Why Am I Bullish on the Cryptocurrency Market Outlook?

marsbit02/02 06:24

Is Crypto Over? Don't Give Up, Liquidity Relief Is Coming

The article "Is Crypto Over? Don't Give Up, Liquidity is Coming" by Raoul Pal addresses the current downturn in the crypto market, arguing it is not a sign of the industry's demise but a temporary liquidity crisis. Pal refutes the narrative that crypto has permanently decoupled from other assets by showing that Bitcoin's price chart is nearly identical to that of the SaaS index, indicating a shared, external factor: a shortage of U.S. dollar liquidity. He explains this was caused by a combination of events, including the draining of the Reverse Repo facility, the rebuilding of the Treasury General Account (TGA) without monetary offset, and government shutdowns. This liquidity drain negatively impacted risk assets like crypto and tech stocks, while gold absorbed the marginal liquidity. The key takeaway is that this period of illiquidity is ending. The impending resolution of the U.S. government shutdown is seen as the final obstacle. Once cleared, a significant injection of liquidity is expected from sources like the easing of the SLR rule, TGA drawdowns, fiscal stimulus, and eventual rate cuts. Pal, alongside analysis from Stanley Druckenmiller, suggests the new Fed leadership under a potential Warsh chairmanship would be focused on cutting rates to keep the economy hot, aligning with a pro-growth strategy from the administration. The author admits a mistake in not prioritizing U.S. liquidity as the dominant short-term driver over global liquidity but remains highly bullish on the long-term cycle into 2026. The core advice for investors is patience, emphasizing that in a full cycle, time is more important than price. The message is clear: the liquidity cavalry is on its way.

marsbit02/02 03:40

Is Crypto Over? Don't Give Up, Liquidity Relief Is Coming

marsbit02/02 03:40

Is Crypto Over? Don't Give Up, Liquidity Relief Is Coming

The article "False Narratives....and Other Thoughts" by Raoul Pal addresses the current downturn in the crypto market, arguing against the mainstream narrative that the crypto cycle is over. Pal explains that the recent price decline in Bitcoin and other cryptocurrencies is not an isolated event but is correlated with a similar drop in SaaS stocks, as shown by comparative charts. He identifies the root cause as a temporary liquidity squeeze in the U.S. financial system, exacerbated by government shutdowns, TGA (Treasury General Account) rebuilding without monetary offset, and gold absorbing marginal liquidity that would otherwise support risk assets like crypto. Pal emphasizes that this liquidity crunch is temporary. He anticipates a resolution to the government shutdown soon, which will remove the last major obstacle to liquidity recovery. Following this, he expects a return of liquidity through measures such as eSLR adjustments, TGA drawdowns, fiscal stimulus, and eventual rate cuts. He advises investors to be patient, stressing that in a full market cycle, time is more critical than price movements. The article also corrects a misperception about potential Fed Chair Kevin Warsh, arguing he is not a hawk and would likely support rate cuts aligned with strategies to boost economic growth. Despite current market conditions, Pal remains highly optimistic about the crypto market's prospects through 2026, driven by anticipated pro-growth policies.

Odaily星球日报02/02 03:31

Is Crypto Over? Don't Give Up, Liquidity Relief Is Coming

Odaily星球日报02/02 03:31

The Real Culprit Behind the Crypto Crash: The Warsh Effect

The cryptocurrency market crash, termed the "Warsh Effect," was triggered by former President Donald Trump's announcement nominating Kevin Warsh, a known monetary policy hawk, as the next Federal Reserve Chair. This news caused significant sell-offs, with Bitcoin dropping over 13% from ~$90,400 to $78,214, and Ethereum and Solana falling over 18% in a week. Key reasons include expectations of tighter monetary policy under Warsh, leading to reduced liquidity and higher real interest rates, which negatively impact risk-sensitive assets like crypto. This triggered massive outflows from Bitcoin and Ethereum ETFs (~$1 billion in a day), initiating a cascade of leveraged liquidations. However, Warsh's views on Bitcoin are nuanced; he has called it a valuable policy barometer and acknowledged its role in U.S. competitiveness. His actual influence remains limited as Fed policy is set by the broader FOMC, which is already cautious about rate cuts. The market's reaction blends fear of monetary tightening with uncertainty over his confirmation, which faces Senate hurdles. The outcome of his confirmation hearings will be critical for future crypto market trends.

marsbit02/02 00:09

The Real Culprit Behind the Crypto Crash: The Warsh Effect

marsbit02/02 00:09

$2.5 Billion Liquidated: Crypto Market Cursed with Falling but Not Rising

On January 31, Bitcoin sharply dropped below $78,000, hitting a low of $75,700, a 7.6% decline, falling to levels last seen in April 2025. Ethereum fell below $2,400, down 12.28%, nearly erasing gains since July 2025, and Solana dropped 13.74% below $100. The broader crypto market liquidation totaled $2.522 billion in 24 hours, with long positions accounting for $2.411 billion. The downturn was triggered by escalating geopolitical tensions and a sharp sell-off in precious metals. Gold fell 15.7% and silver plunged 37%, partly due to market expectations of a more hawkish Federal Reserve under potential chair nominee Kevin Warsh. This led to a repricing of risk assets, with crypto—seen as a higher-risk asset—experiencing accelerated outflows. Notably, Bitcoin’s value relative to gold hit a historic low, suggesting extreme weakness but also potential long-term opportunity. However, the market displayed a “follow-the-drop-not-the-rise” pattern, falling alongside traditional risk-off moves without participating in rallies. Major players suffered significant losses. Garrett Bullish was liquidated for over $700 million in a single position on Hyperliquid, with total losses around $270 million over two weeks. Meanwhile, Trend Research fund held large ETH positions with nearly $500 million in unrealized losses, continuously adding collateral to avoid liquidation. The event underscores that crypto remains highly sensitive to macro sentiment and liquidity shifts, lacking the stability of a true safe-haven asset. It forces a reevaluation of crypto’s long-term value proposition during periods of deleveraging and market stress.

marsbit02/01 01:02

$2.5 Billion Liquidated: Crypto Market Cursed with Falling but Not Rising

marsbit02/01 01:02

$2.5 Billion Liquidated: Crypto Market Cursed with Following Declines but Not Rallies

A massive crypto market crash on January 31 led to $2.522 billion in liquidations, with Bitcoin falling below $78,000 (a 7.6% drop) and Ethereum plunging over 12% to under $2,400, erasing gains from mid-2025. Solana also dropped sharply, falling below $100. The sell-off was triggered by broader financial turmoil, beginning with escalating geopolitical tensions and accelerated by a severe crash in precious metals. Gold and silver saw dramatic drops—15.7% and 37%, respectively—after reports suggested former Fed official Kevin Warsh, perceived as hawkish, might be nominated as the next Fed chair. This sparked a repricing of expectations around U.S. monetary policy and a stronger dollar. The crypto market, positioned at the bottom of the risk asset hierarchy, suffered disproportionately—falling more sharply than traditional markets during downturns without matching their rallies. Major players were heavily impacted: trader Garrett Bullish saw over $700 million liquidated in a single position on Hyperliquid, while institutional entity Trend Research faces nearly $500 million in unrealized losses on its Ethereum holdings. Despite Bitcoin’s price relative to gold hitting historic lows—a signal some interpret as a potential long-term buying opportunity—the event underscores crypto’s current role as a high-risk asset vulnerable to macro shocks, lacking the stable store-of-value status of traditional safe havens. The market is now questioning what will sustain long-term holding through periods of deleveraging and uncertainty.

Odaily星球日报02/01 01:01

$2.5 Billion Liquidated: Crypto Market Cursed with Following Declines but Not Rallies

Odaily星球日报02/01 01:01

MicroStrategy's Defense Line Breached! Is Bitcoin Sliding Towards the 60,000s?

The cryptocurrency market is experiencing its darkest period of the year. Bitcoin (BTC) has sharply declined, with intraday losses reaching 9%, and its price briefly fell below $76,037—the volume-weighted average cost basis for MicroStrategy, the largest corporate holder of BTC. This marks the first time since October 2023 that Bitcoin has traded below this key level. As MicroStrategy’s highly leveraged position faces a major test, market panic is deepening. The company’s aggressive accumulation of Bitcoin near the $90,000 level earlier this year significantly raised its average purchase price. With BTC now near $75,000, MicroStrategy’s holdings of approximately 712,600 BTC have fallen into an overall unrealized loss for the first time this cycle. The sell-off is driven by tightening macro liquidity, weak demand, and forced liquidations of highly leveraged positions. Bitcoin has broken below key support levels, and despite being deeply oversold, buying interest remains weak. Analysts warn that if Bitcoin fails to reclaim $78,000 soon, it could fall toward the critical 200-week moving average near $68,000—a major technical and psychological support level. Some even suggest a further drop to $60,000 is possible if panic persists. This downturn reflects a broader market reset after a period of excessive leverage and speculation. While MicroStrategy may withstand short-term pressure due to its long-term debt structure, retail investors face a sharp reality check as expectations adjust downward.

比推01/31 19:44

MicroStrategy's Defense Line Breached! Is Bitcoin Sliding Towards the 60,000s?

比推01/31 19:44

Crypto hit with $1.8B in liquidations – October repeat or healthy reset?

Crypto markets experienced a sharp $200 billion downturn in late January, triggering $1.8 billion in liquidations—mostly long positions. This sell-off was part of a broader $5 trillion wipeout across U.S. markets, including equities and metals, suggesting a macro-driven risk reset rather than crypto-specific weakness. Despite a bullish backdrop including regulatory progress and political developments, the coordinated decline appears engineered to flush out weak positions and force liquidations, resembling a strategic market shakeout rather than a fundamental shift.

ambcrypto01/30 09:03

Crypto hit with $1.8B in liquidations – October repeat or healthy reset?

ambcrypto01/30 09:03

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