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The big story in markets this week was the Wednesday release of a shocking 6.2% inflation figure in the US — with the voices proclaiming inflationary pressure is transitory now starting to slink into the shadows. The numbers, above even the most pessimistic analysts’ expectations, triggered a further flattening of the yield curve as market participants reconfigured their rate hike expectations, with US inflation expectations rising with shorter-term yields, while longer-term yields stayed relatively flat. This brought about surging gold prices along with dollar strength — an unusual combination explained by the prevailing risk-off sentiment that also saw both stock and bond markets sell off globally.
Crypto markets were not spared the volatility after the inflation data release with Bitcoin and Ethereum surging to all-time highs of $68,700 and $4,860 respectively soon thereafter. However, the rally was short-lived — with a healthy correction coinciding with the jitters in traditional markets. Bitcoin prices now look set for a period of consolidation following an extended period of growth. This dip had a ripple effect on the rest of the market, and several of the largest cryptoassets by market capitalization including SOL and DOT were down by more than 4% on a 7-day measure.
With so much attention on US inflation, the Bitcoin Taproot upgrade, which aims to improve the network’s privacy, efficiency and integrate improved smart contract capability, flew under the radar. The soft fork which is scheduled for Saturday is the first update to the Bitcoin protocol since the controversial Segwit upgrade back in 2017. The hype surrounding the update could have contributed to Bitcoin surging to all-time highs. The ability to run smart contracts potentially paves the way for the Bitcoin network to host similar DeFi applications to Ethereum — further building out functionality enabled by the Lightning Network.
Indicators (05 November— 12 November)
- Invictus Margin Lending (IML): $1.29, +14.82% (weekly compound annualized rate)
- Crypto10 Hedged (C10): $9.32, +1.06%
- Crypto20 (C20): $5.90, +2.52%
- Invictus Bitcoin Alpha (IBA): $3.39, +4.35%
- Invictus Hyperion Fund (IHF): $0.481 (Updated Q3–21)
- Invictus Capital Token (ICAP): $11.70, +0.41%
- BTC: $64,820.90, +5.54%
- ETH: $4,724.58, +4.08%
- GOLD: $1,862.10, +3.94%
- S&P500: 4,649.27, -0.66%
The Invictus Podcast: Episode 9
Our podcast with trading coach Steven Goldstein (@AlphaMind101) is live! We discussed:
- Applying traditional market trading principles to #crypto
- How to approach trading for long term mastery
- Trader mindset, probabilistic thinking, and more!
Check it out here!
Invictus Incubations: Invictus Makes Foray Into Fast-growing NFT Space
Invictus is proud to announce involvement in two new NFT projects: The Invictus NFT Lab — Out Of Africa Collection and the incubation of Air Guitar Academy.
Invictus Yield Vault
Invictus Capital is thrilled to announce the public launch of the Invictus Yield Vault. The Yield Vault allows qualifying lenders the opportunity to lend a minimum amount of $25,000 BTC, ETH and/or Stablecoins for highly competitive interest rates to Invictus Alpha, Invictus Capital’s trading division.
The Vault is now seamlessly integrated into the investor portal on the Invictus Capital website! Prospective crypto lenders now have a single web location to effortlessly view Yield Vault information, crypto lending interest rates, FAQ information, and contact our Yield Vault Team.
To view our rates and contact our Vault team, please visit our landing page.
Borrow Against Your Crypto With Peace of Mind
Crypto users can now borrow against their crypto secure in the knowledge that their investment will not get liquidated.
Invictus Alpha (the trading company of Invictus Capital) has engineered a new product that is offering users the opportunity to borrow USD-based stablecoins (or BTC and ETH) against BTC and ETH with no risk of liquidation.
Schedule a call with the Invictus Sales Team
Schedule a call with Tom or Ivor from our Fund Sales team if you have any questions or need assistance with your Invictus investment(s).
Alternatively you can call us on +1 (345) 769–7491 between 7:00–16:00 GMT.
Other News & Links
- Invictus in the Press/News
1. Earn A Market-Leading Fixed Interest on Your Crypto with the Invictus Yield Vault
2. Invest In Index Funds Before The Wall Street Invasion
- Bitcoin soft fork days away as Taproot upgrade closes in
- U.S. consumer prices jump 6.2% in October, the biggest inflation surge in more than 30 years
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