Treasury yields eased from multi-decade highs and oil slipped on reports of a phased U.S.-Iran deal, with roughly $14 billion in bitcoin options set to expire on Deribit on Friday.
According to the Financial Times, Goldman Sachs earned about $200 million in fees this year from Situational Awareness, the hedge fund founded by Leopold Aschenbrenner. The fund grew rapidly through leveraged bets on AI stocks, with assets peaking at around $30 billion.
A sell-off in AI stocks in mid-July forced a major unwind, including a large sale to Citadel. The fund subsequently shrank and reduced its leverage.
Bitcoin traded just above $84,000 on Friday, flat over 24 hours after falling below that level on Wednesday, CoinDesk data show. Most major tokens moved less than 2%. Smaller names did the running, with ONDO up 27% to about 54 cents and Quant up 39% to nearly $100.
Bonds found a floor in Asia. The 10-year Treasury yield slipped two basis points to 5.17% after jumping more than 20 basis points over the previous two sessions, and Brent fell 1% to about $105 a barrel on reports that Washington and Tehran are exploring a phased deal to reopen the Strait of Hormuz.
FxPro chief market analyst Alex Kuptsikevich reads bitcoin's drop as a stall short of the target technical traders had projected for the rally that began in mid-August.
"As with the overall market capitalisation, the leading cryptocurrency encountered resistance near a previously significant support level. 8% of the impulse that began in mid-August in a single move.
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