"Bitcoin rose above $58,000 on the back of a rally in U.S. technology stocks. U.S. inflation data on Wednesday seemed to solidify the prospect of a 25 basis-point interest-rate cut by the Fed this month, following which Nvidia, Microsoft, Google and Apple all registered gains."
"Leverage in the bitcoin market is increasing again, suggesting traders are looking to take on more risk. The estimated leverage ratio jumped to 0.2060, the highest since October 2023... The increase indicates there is potentially more volatility being injected into the market."
"High-leverage liquidity is stacked at around $58,500, according to Hyblock Capital. So volatility could pick up once BTC approaches that level, especially because overall market liquidity remains low..."
"DeFi platform Pendle has started offering pools with variable yields of as high as 45% on a bitcoin-backed token in a move that expands the product's fundamentals. The offering... allows users to deposit LBTC, a liquid-staking token issued by restaking startup Lombard."
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