Tether Aims to Boost Transparency, SEC Withdraws Charges Against Ripple Execs

U.S equity markets are moving lower as bond yields dropped following the 10-year yield surpassing 5% yesterday, a peak not seen in sixteen years. Federal Reserve Chairman Powell indicated yesterday that the interest rates would stay unchanged in the approaching November meeting. However, he cautioned that should the economic scenario intensify, rate increases might be back on the table. Despite the cautious sentiment in traditional asset sectors, crypto has notably veered positively, with BTC dominance rising to highs not seen since April 2021 at 52.5%. BTC briefly climbed above $30k overnight for the second time this week but has since retreated to $29.5k. ETH is also gaining, reaching $1.6k, although ETHBTC remains near its recent lows at 0.054. SOL -1.60%  has been a notable outperformer among the top 10, rising 6.2% over the last day and 25% over the last week. As we reiterated in our weekly Crypto Strategy note yesterday, we believe the move has been a counter-reaction to overblown fears about FTX estate liquidations, which led to oversold levels before this rally.