In the grand scheme of things, this is a good thing
https://nitter.dcs0.hu/binance/status/1590449161069268992#m

Things getting more sketchy

Challenging and unspoken issue facing solana ecosystem are the wrapped Sollet tokens, namely soBTC, soETH, which is used widely across lending and AMM platforms.

The problem? These tokens are issued by FTX (or Alameda, no one really knows)

These tokens were launched very early in the Solana DeFi cycle to help generate liquidity in the space, and supposed to be backed 1-1 by BTC or ETH.

🔔 Pls do not interact with any wrapped tokens on solana until the solana foundation clears the confusion around the custody of these tokens.
Be safe Anon

▪️Join Us @Altcoin_Alerts | @AltcoinAlertsChat

too good not to post🤣

Proof of Assets (liabilities not netted off) Provided by Exchanges

Binance -$64 Billion in wallet link

OXK -$6 Billion in wallet link

Kucoin - $2.8 Billion in wallet link

Crypto•com - $2.7 Billion in wallet
link

Bybit - $2.1 Billion in wallet link

Deribit - $1.7 Billion in wallet link


(Figures are expected to increase or decrease as they get updated on chain) it is approximation as we see.

No CEX is safe at this point. Huobi, crypto.com, gate.io all being accused of passing around ETH to pass proof of reserve audits

https://nitter.at/MarioNawfal/status/1591803227003129858?t=owzTkbJYqNxAOV-3nRhQKw&s=35

Binance temporarily suspended deposits of USDC (SOL) and USDT (SOL) until further notice.

OKX delists USDC-Solana and USDT-Solana token network and will no longer support depositing or withdrawal of the corresponding crypto.

https://www.binancezh.jp/en/support/announcement/deposits-of-usdc-sol-usdt-sol-token-suspended-ed279c11471b4c118c3fe9962eb12dc9
https://www.okx.com/support/hc/en-us/articles/10663808896909-Delisting-of-USDC-Solana-and-USDT-Solana-token-networks

Thought we'd get a capitulation dump around this time. But its proving to take longer than expected. We are still not far from capitulation imo

Market Update:

#DXY completely blew through my targets. I think we'll retest 2001/2002 highs first before things really break and cause systemic problems in which Central Banks are forced to print again. During this structural break, we are likely to see a capitulation in all assets but a "v shape recovery" when fed starts printing again. Another 8 or so years of bull run following that.

then: https://www.tradingview.com/x/AbiZmDga
now: https://www.tradingview.com/x/LOcfTnSJ/

Catalyst: It is quite possible imo that only the first few rate hikes earlier this year are starting to take affect on debt markets. We will likely see the impact of the more recent rate hikes in the coming months to come. A good way to measure this are the below charts. Spreads tend to increase when liquidity is thin and investors are risk off because businesses are more likely to fail.

https://fred.stlouisfed.org/series/BAMLH0A0HYM2
https://fred.stlouisfed.org/series/BAMLC0A4CBBB

Movements in spreads this year have been more correlated to the market rather than just interest rates alone.

#SPY Revising my target to 3000-3200. A strong rejection off 200d MA again is bearish. After yesterdays meeting i think its almost a 100% bet that we will not see a rate cut next year - meaning debt will not cost less. Earnings recession and/or weak guidance next quarter is likely. I am not entirely sure how long this down move would take. Could be broken up into multiple up trends in between.

https://www.tradingview.com/x/PxMl6ulp/

#us10y I think with the Dollar index, rates will move in the same direction taking us to 2007 highs.

Catalyst: Developing nations defaulting on their debt. Since many nations have USD denominated debt, their currency will fail to service that debt. Even developed economies like Japan have struggled to defend their currency

https://www.tradingview.com/x/WHkEnOBt/

#BTC Is it truly a crypto bear market if btc hasnt fell 80% from highs? I think not...at this point its anyones guess on WHEN the bottom is. I think the more important question is how long will this bear market last. For macro related reasons, this bear market will be a lot longer than most of us hope. DCA wouldnt be a bad idea here if you're a long term Hodler.

https://www.tradingview.com/x/PEnOue3C/

#GOLD did hit my 1700 target and is holding surprisingly well despite a strong dollar but i think we might see some more sideways movement before we get more upside. If we do get capitulation dump on equities we are likely to see a dump in gold too. This would be the time to buy

then: https://www.tradingview.com/x/X0LX0hGV
now: https://www.tradingview.com/x/62VjXJke/

Some interesting charts im looking at right now:

NVDA: https://www.tradingview.com/x/wimPlmg0/

LULU: https://www.tradingview.com/x/ovBJyxYp/ - H&S, below 200d MA

ORCL: https://www.tradingview.com/x/y7DT9BIm/

EUFN: https://www.tradingview.com/x/y7DT9BIm/ - nearing 200d MA break

https://twitter.com/cryptopathic/status/1606416137771782151

Keepass and bitwarden are great alternatives