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VIPBitget VIP Weekly Research InsightsAfter the largest liquidation in history on October 11, market liquidity took a severe hit, with reports suggesting that many mid- and long-tail market makers suffered heavy losses. Consequently, it may take considerable time for liquidity conditions to normalize. The mass liquidation was primarily triggered by Trump's announcement of a 100% tariff hike on China, followed by a chain reaction from the USDe depegging incident. As a result, the market has likely entered oversold territory.
Ripple’s $1.25 billion acquisition of Hidden Road marks its boldest move yet into traditional finance. Rebranded as Ripple Prime, the firm merges crypto innovation with global brokerage services, deepening Ripple’s institutional reach.
- 09:07BlackRock CEO Larry Fink: Cryptocurrency is a hedge against currency devaluationAccording to Jinse Finance, citing BitcoinMagazine, BlackRock CEO Larry Fink recently stated that if one believes "countries will continue to devalue their currencies," then one should hold cryptocurrencies. The leader of the financial giant managing $13 trillion in assets further explained: "If you believe that global insecurity will increase, owning crypto assets or gold means holding 'fear assets.' You hold these assets because you fear currency devaluation and are concerned about financial and fiscal security." Fink emphasized that, between crypto assets and gold, the market generally considers them effective hedging tools against currency devaluation and inflation.
- 09:07Citi Lowers Short-Term Price Targets for Gold and SilverJinse Finance reported that Citibank has lowered its short-term price targets for gold and silver, reducing the 0-3 month gold price forecast from $4,000 per ounce to $3,800 per ounce, and the silver price forecast from $55 per ounce to $42 per ounce, citing changes in the global market environment.
- 08:38The international gold price has dropped $100 from its daily high.Jinse Finance reported that spot gold fell to $3,920 per ounce, retreating about $100 from the daily high and hitting a new low since October 6.