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US Spot Bitcoin ETF Sees $171.44 Million Net Outflow Yesterday

On March 27, according to monitoring by Trader T, the US spot Bitcoin ETF experienced a net outflow of $171.44 million yesterday.

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    On March 27, according to monitoring by Trader T, the US spot Ethereum ETF experienced a net outflow of $92.97 million yesterday.

  • Federal Reserve Officials Warn: Iran War Poses 'Greater Risk' to Inflation

    On March 27, three Federal Reserve officials expressed growing concerns about the impact of the Middle East war on the U.S. economic outlook. One policymaker indicated that the surge in oil prices has shifted the balance of risks, making inflation a greater concern than employment. Federal Reserve Governor Lisa Cook stated during a speech in New Haven, Connecticut, that "I believe the risk of inflation is now greater due to the Iran war. In terms of the labor market, I think it is in a balanced state, but that balance is fragile." Cook did not disclose how she believes policymakers should respond, but her two colleagues indicated in their remarks on Thursday that they prefer to keep interest rates unchanged while assessing the war's impact on inflation and growth. Federal Reserve Governor Michael Barr mentioned at an event in Washington, "It is reasonable to take some time to assess the situation. Our current policy stance puts us in a favorable position to maintain stability while evaluating new data." Federal Reserve Governor Stephen Miran stated at an event in Miami that he still believes the underlying inflation rate will trend towards 2% over the next 12 months. Miran also noted that the Federal Reserve could potentially reduce its balance sheet by $1-2 trillion without causing turmoil in financial markets. However, he warned that many accompanying measures would be needed, and this process could take years. "Once this process starts, I suggest proceeding with a slow pace to ensure the private sector can absorb all the securities we are shedding from our balance sheet. I am excited about the possibility, but if it does happen or once it happens, I expect progress to be slow."
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  • GameStop Did Not Sell Its 4,709 Bitcoin Holdings

    On March 27, GameStop disclosed on Tuesday that it had pledged nearly all of its Bitcoin holdings as collateral with Coinbase in January for a covered call strategy, ending two months of speculation about whether it had sold the cryptocurrency. In its 10-K annual report filed with the U.S. SEC, the video game retailer stated that it had pledged 4,709 Bitcoin, representing almost its entire holdings, in an agreement with Coinbase Credit and utilized this position to sell call options. This filing clarifies market speculation from January, when on-chain analysts observed GameStop transferring all its Bitcoin to Coinbase Prime, leading to assumptions that it might be preparing for a liquidation. With Bitcoin down 45% from its all-time high, Bitcoin asset reserve models have faced pressure in recent months, and some analysts questioned the sustainability of a "buy and hold" strategy last year. This move indicates GameStop's attempt to generate yield by selling short-term call options with strike prices between $105,000 and $110,000, which are set to expire this Friday. The disclosure shows the company has $2.3 million in unrealized gains and $700,000 in liabilities related to these options on its books, with some covered call contracts having expired in January without being exercised. The covered call strategy allows GameStop to sell call options, giving the buyer the right to purchase its Bitcoin at a fixed price; if the options are not exercised, the company can keep the option premiums and retain its Bitcoin holdings.

  • Fed Governor Barr: Waller Fully Qualified for Fed Chair Role, Knows Fed Well

    March 27, Fed Governor Barr: Waller is fully qualified to serve as Federal Reserve Chairman, and he is very familiar with the Federal Reserve. (JIN10)

  • Traders Bet on Potential Fed Rate Hike Amid Iran Tensions

    Bond traders are seeking protection against the worst-case war scenario stemming from potential escalation in the Iran conflict, betting that the Federal Reserve might be forced to raise interest rates in the coming weeks. Demand has emerged in the options market tracking Fed policy for bets tied to the Secured Overnight Financing Rate (SOFR) that anticipate a rate hike as early as two weeks from now. These trades would profit if the bond market significantly repricing expectations for a rate hike before the Fed's policy meeting on April 29. This surge in demand for emergency rate hike hedges marks a sharp reversal in market sentiment. Just a month ago, the market was pricing in as many as three 25-basis-point rate cuts by the end of the year. Since the conflict began on February 28, swap market traders have begun pricing in about a 50% chance of a rate hike by December, putting short-term Treasury bills at risk of further repricing. Jeff Schuh, head of rates at Constitution Capital, stated that while the latest bets don't reflect the market's base case scenario, they do signal growing concern that rapidly rising inflation could put investors who have been long Treasuries in recent months at risk. Schuh noted that traders have been unwinding large long positions in Treasury futures as soaring oil prices fuel renewed inflation fears. The sell-off in SOFR futures and the upward move across the entire Treasury yield curve have caught many large funds off guard. He pointed out that such trades are a "cheap hedge that makes liquidation risk look more manageable in 90% of cases."

  • David Sacks Steps Down as White House Crypto Lead, Key Legislation Pending

    On March 27th, David Sacks will step down as the White House Lead for Artificial Intelligence and Crypto Affairs, concluding a brief but impactful tenure on U.S. digital asset policy, with several significant legislative efforts remaining unfinished. In an interview with Bloomberg on Thursday, he stated that his term officially ends due to reaching the 130-day limit for special government employees. However, he will continue to be involved in government affairs, serving as co-chair of the President's Council of Advisors on Science and Technology, where he will advise on broader technology issues. During his time at the White House, Sacks played a central role in shaping the Donald Trump administration's crypto policies, including advocating for legislation related to market structure and stablecoins, as well as supporting the establishment of a strategic U.S. Bitcoin reserve. He also championed clearer regulatory rules for digital assets and, like many within the Trump camp, criticized the Joe Biden administration's previous regulatory approach for its over-reliance on enforcement.

  • BTC Falls Below $69,000

    Market data shows that BTC has fallen below $69,000, currently priced at $68,957.23, with a 24-hour decline of 2.68%. The market is experiencing significant volatility, so please ensure proper risk management.

  • President Trump: We Are Destroying Iran

    President Trump: We are destroying Iran. It is Iran that is begging for a deal, not me. Everyone knows that Iran is negotiating with us. (Jinshi)

  • Iran Delivers Response to US 15-Point Proposal Via Intermediary

    On March 26th, according to Iranian media reports, Iran's response to the United States' 15-point proposal was officially delivered last night through an intermediary. (Jins10)

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