Market Overview - Risk appetite has weakened, impacting the crypto market with a market value of digital assets around $3.45 trillion and a Fear and Greed Index at 20, alongside liquidations exceeding $2 billion in a single day [1] - Bitcoin fell below $100,000 for the first time since June, while Ethereum dropped below $3,100, indicating a broader trend of deleveraging in the market [3] Liquidity and Positioning - Stressed positioning has altered the mix of liquidity providers, slowing the pace of spread tightening, which means rebounds often rely on fresh cash rather than mechanical squeezes [2] - The environment of patience in policy communication from the Federal Reserve has diminished the appeal of long-duration exposures, leading to tighter inventory limits among dealers [4] Market Dynamics - When both growth stocks and crypto decline simultaneously, hedges tend to migrate into listed instruments first, followed by cash selling as liquidity decreases, increasing the risk of price breaks during transitions between time zones [5] - The structure of the market has turned stress into liquidations, with open interest decreasing as long positions hit margin limits, leading to forced selling and wider spreads [6] Stablecoin Activity - Stablecoin flows mirrored market trends, with a slowdown in creations and an increase in redemptions, resulting in fewer spot bids to absorb forced sales, indicating a reduction of leverage in the system [7]

Bitcoin is pumping back up 🤝Praying for daily close above $104,000 https://t.co/z0TIS5tM0G ...

If you want to stay ahead of the fastest-moving sector in crypto, subscribe to In The Stables 👇https://t.co/XWNRx2TXBa ...

RT The Haven (@TheHavenCrypto)Sorry not sorry. The Boss with a quick $ETH banger👨‍🚀 https://t.co/8CEBD5PrrJ ...

RT Altcoin Daily (@AltcoinDaily)Just did a great fireside chat with industry leaders @SergeyNazarov and @StaniKulechov.Capital markets are coming to crypto!! https://t.co/SeYKipHnQe ...

The question facing institutional investors is no longer whether they can buy bitcoin, but how much belongs in their portfolios now that regulatory and accounting barriers have fallen. ...

📈 Crypto prices are back on the upswing following a day of FUD from the crowd yesterday. Bitcoin is back to $103.8K, Ethereum has just jumped to $3,440, and several altcoins are surging, notably $HYPE (+10%), $AVAX (+5%), $UNI (+6%), & $WLFI (+7%). https://t.co/mldkO2HL6e ...

Watched it moon.🌕#Bybit #CryptoArk https://t.co/2JKudf9uHs ...

$PEAQ is giving another tremendous opportunity at this higher timeframe support.Many #Altcoins have been printing new lows, but $PEAQ didn't.It's back to higher timeframe support, and, as I've been saying: Robotics <> Crypto <> AI is a great concept that I think will be massive.We've invested into multiple protocols within the $PEAQ ecosystem and I think it's one of the most promising and bullish ecosystems within crypto. ...

Core Insights - Ripple is collaborating with Mastercard, WebBank, and Gemini to explore the use of its dollar-backed RLUSD stablecoin for settling fiat credit card transactions on the XRP Ledger [1] - The initiative is contingent on obtaining regulatory approvals, with plans to begin RLUSD onboarding in the coming months [2] - The integration of RLUSD aims to enhance the efficiency and speed of the settlement process for credit card transactions [3][4] Company Developments - The partnership includes the use of RLUSD for all Gemini Credit Cards, including those linked to Bitcoin and Solana, potentially streamlining the settlement process [3] - Ripple's RLUSD stablecoin has a market cap of over $1 billion, making it the 11th largest stablecoin by market capitalization [4] - Ripple raised $500 million at a valuation of $40 billion, indicating strong investor confidence [5] Regulatory Context - Regulatory approval is emphasized as a critical component of the initiative, ensuring compliance with applicable frameworks [2] - The stablecoin is regulated by the New York Department of Financial Services (NYDFS) and is primarily custodied by BNY Mellon [5] Market Position - The RLUSD stablecoin was launched in December and has since expanded its use, including integration into Securitize's platform for institutional applications [4][5] - The Ripple-linked XRP token has experienced a 2.6% decrease in value over the last 24 hours, trading at $2.26 [5]