Crypto Markets Today: Altcoins Show Signs of Life as Bitcoin Holds Key Support Above $88K

[Standard Chartered Bank Predicts Fed May Cut Rates in December] Steve Englander, Head of Global G10 FX Research and North America Macro Strategy at Standard Chartered Bank, stated in a report that despite disagreements among Fed policymakers ahead of the December meeting, Standard Chartered Bank believes the Fed may continue to cut rates. He noted that employment data from September to November is expected to be very weak, which could prompt centrist members of the Fed to support a rate cut.

London-based Globacap’s U.S. broker-dealer and alternative trading system (ATS) is regulated by FINRA and the SEC.

[Bitcoin Plunge Triggers Record BlackRock ETF Redemptions] The sharp decline in Bitcoin's price has led to record-breaking fund redemptions from BlackRock's ETF.

Perpetual futures traders have rapidly added leverage during bitcoin’s decline, creating a derivatives regime that K33 says resembles past periods that preceded further drawdowns.ETF outflows, long-term holder selling, and weak recoveries compared to tech stocks have intensified sell-side pressure as bitcoin trades near levels last seen in April, Head of Research Vetle Lunde said.

Era Lend, operating on zkSync Layer 2 network, suffered a reentrancy attack with a loss of $3.4 million.The hacker exploited a read-only reentrancy vulnerability, allowing repeated calls within a transaction to drain funds.