In today’s briefing:
- Will Elon Dump $10 Billion In Tesla This Week To Buy Twitter? Maybe Not.
- The Commodity Report #74
- BTC Market Share Hits 2-Year High
Will Elon Dump $10 Billion In Tesla This Week To Buy Twitter? Maybe Not.
- Elon’s Twitter funding “plan” to buy Twitter has been a disaster, time is running out, and it’s mostly his fault.
- Many in his equity pool raised back in May are trying to get out of the deal altogether.
- He still has time to salvage it without selling more Tesla.
The Commodity Report #74
- Inventories of copper in warehouses run by exchanges such as the LME do not provide a complete picture of copper stocks in the supply chain since many industrial users will hold their own reserves of the metal.
- But visible stocks can have a significant influence on sentiment in the market.
- It’s just striking how negative the financial markets are about this industry, yet the physical market is so tight.
BTC Market Share Hits 2-Year High
- Price Movements: In 7 out of the last 10 years, BTC has closed October in-the-green. As of this weekend, it is up slightly for the month with one week to go.
- Market Liquidity: BTC’s market share of volume vs. all other altcoin trading pairs has climbed to its highest level in two years.
- Derivatives: OI for Tether perpetual futures dropped and funding rates flipped positive since the stablecoin issuer removed commercial paper from its reserves.
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