A personal blog about money, markets and crypto
Alex 
Bitcoin fell 4.42% to $68,377 on Nov. 13 (CoinGecko). The main reason: money got more expensive, as the US dollar index rose to 103.38 and the 10-year Treasury yield reached 5.15%. That pressure turned into forced selling, and CoinDesk reports more than $1.6 billion in leveraged bets were liquidated as BTC hit a 12-week low.
More than $1.6 billion in leveraged crypto bets were force-closed on Nov. 13 as bitcoin hit a 12-week low near $68,781.99 (CoinDesk; price from Yahoo Finance, Nov. 13). CoinDesk reported the total only. The data I have doesn’t split it into longs and shorts, doesn’t give bitcoin’s share and doesn’t give the exact time window. The push came from a dollar at a 19-month high, as CoinDesk described it, and the next test …
The October PPI report put wholesale inflation at 6.5% a year, the highest since November 2022. The month itself came in a little cooler than forecast: producer prices rose 0.3% against a 0.4% consensus in the BLS release at 8:30 a.m. ET (22:30 KST) on Friday. Energy did it: final demand energy slipped 0.1% after a 10.0% jump in September, and diesel fell 7.9%. That small miss doesn’t take a December 9 Fed hike off t…
The Ripple Stellar altcoin outlook is grim: XRP has lost 25.73% in 30 days, per CoinGecko data. Stellar (XLM) is down 22.16% over the same stretch, and both fell harder than Bitcoin’s 17.06%, because a dollar at a 19-month high and 5.1% Treasury yields are pulling money out of the riskiest corners of crypto first.
CoreWeave stock is trading in a week when Nvidia shed nearly $500 billion in market value (MarketWatch). That matters more for CoreWeave than for almost any other stock, because its whole business is renting out Nvidia chips, much of it paid for with borrowed money, and that money got more expensive when the 10-year Treasury yield hit 5.1% on Nov. 12 (Yahoo Finance).
So how much has Nvidia lost? About $1.6 trillion in market value, according to CNBC on November 13, and the stock is on track for its longest weekly losing streak since 2012. The selling started with the scandal that pushed out Jensen Huang, and a 5.1% 10-year Treasury yield has made it worse. If you own an S&P 500 or Nasdaq fund, you hold some of this loss, but your cash is safe and the next big test comes with Nvid…
US Treasury yields jumped Thursday, lifting the 10-year to 5.1% after a 2.1% rise in a single session (Yahoo Finance, Nov. 12). So why did US Treasury yields rise Thursday? Traders added to bets on more Federal Reserve rate hikes, MarketWatch reported, and CoinDesk put the dollar index at a 19-month high.
Reports of a Jensen Huang third affair landed as Nvidia closed down 4.3% at $166.19 on November 12. Reuters, citing two people familiar with the matter, reported that Huang had an intimate relationship with a second Nvidia employee, hours after Nvidia announced he had resigned as CEO, president and director, effective immediately. For your money: Nvidia still reports earnings on November 17, the board probe has publi…
Bitcoin below 70000: BTC traded at $68,681 at 18:12 KST (09:12 UTC) on Nov. 13, per CoinGecko, down 6.38% in 24 hours. That is its lowest level since August, and it came as the U.S. dollar index sat at a 19-month high above 103, the 10-year Treasury yield stood near 5.13% and more than $1.3 billion of leveraged crypto bets were liquidated in a day (CoinGlass data via CoinDesk).
The gold price in Korea has fallen about 17.7% in won terms over 3 months, more than the dollar drop. Yahoo Finance data on November 13 shows gold at $3,912.9 an ounce, down 12.41% in 3 months, while the won strengthened to 1,331.28 per dollar. Korean holders took both hits at once. Your gold hasn’t disappeared, but the two forces pushing it down, 5.1% US Treasury yields and a firm dollar, are both still in place.