**MFQwFQ**

Why crypto, stocks, and gold all moved together this week
1. Regulatory Clarity as the Primary Catalyst
The crypto market's 3.49% surge to $2.36 trillion underscores regulatory clarity as the dominant driver of valuation. Anticipation surrounding the Clarity Act, reportedly ready for presidential signing in March, lifted the enforcement uncertainty that has long constrained institutional capital. When policy frameworks become predictable, risk assessments recalibrate, and capital deploys. This isn't speculative noise; it's a structural repricing as traditional allocators gain confidence that d

Crypto’s wake-up call: How a stronger dollar and US$113 oil are crushing risk assets
1/ The crypto market's 0.67% decline to $2.29T signals macro-driven repricing, not routine volatility. Digital assets now move in lockstep with traditional risk indicators, maintaining a 64% correlation with the S&P 500. Rates-sensitive capital treats crypto as part of the same risk bucket as equities. This reflects broader dynamics: liquidity conditions, inflation expectations, and geopolitical shock transmission across the global financial system, demonstrating crypto's integration into mainstream macro trad

Doomsday for Blackrock?
Is private credit finally hitting the wall, or is this just a long-overdue reality check? 📉
For years, the "Golden Age" of private credit felt unstoppable. But with recent high-profile defaults (First Brands, Tricolor) and BDCs taking a hit, the "shadow banking" doomsday clocks are ticking louder.
The Reality Check:
Roughly 40% of borrowers ended 2024 with negative free cash flow. We’re likely entering a "grind-it-out" phase, an 18-24 month window where managers must prove they can actually manage distressed assets, not just collect fees.
Why it’s not "doomed":
1/ Lock

Long Squeeze Alert: How Bitcoin's Drop Below $70,000 Triggered a $300 Million Derivatives Wipeout
1/ Over $300 million in crypto derivatives liquidations occurred in 24 hours, with Bitcoin longs accounting for a large share. Reports cite figures between $329 million and $370 million. The move followed Bitcoin's failure to hold above the low to mid $70,000 area, compounded by Middle East tensions and weak US jobs data. This classic long squeeze forced out overconfident bullish traders as price action turned against them.
2/ Perpetuals open interest sits around $382.6 billion, down 2% to 5% in 2