🚨 GLOBAL STOCK MARKETS ARE IMPLODING.
Over $10 TRILLION has been wiped out across major stock markets from their 2026 peaks.
🇰🇷 South Korea is down 40%, wiping out $2.96 trillion.
🇮🇩 Indonesia is down 33%, wiping out $282 billion.
🇶🇦 Qatar is down 25%, wiping out $54 billion.
🇹🇷 Turkey is down 24%, wiping out $149 billion.
🇨🇳 China is down 20%, wiping out $2.78 trillion.
🇭🇰 Hong Kong is down 18.5%, wiping out $1.37 trillion.
🇮🇳 India is down 14%, wiping out $839 billion.
🇯🇵 Japan is down 13.5%, wiping out $1.38 trillion.
And yet Bitcoin is still holding above $80,000 and is in a strong uptrend.
Institutional investors are doubling down on tech stocks:
37% of global fund managers are now overweight technology stocks, up from 30% in September, and the highest reading since August 2020, according to a BofA survey of 161 participants overseeing $453 billion in assets.
Technology also has the largest overweight positioning of all sectors.
Pharmaceuticals and Industrials follow, with 23% and 22% overweight, respectively.
On the other hand, 34% of institutional investors are underweight Consumer Discretionary, the sector's most bearish positioning since the 2008 Financial Crisis.
Consumer Staples has the 2nd-most bearish positioning, with 32% of managers underweight.
Institutional investors are doubling down on tech and turning against consumer stocks.
The year 2000, the dot-com bubble popped, and bam! Trillions evaporated overnight. Now, Michael Burry (@MichaelJBurry__) is dropping another major warning: "These aren't the charts you're looking for." Is this whole AI capex boom looking like the same old bubble? 🧐
@BrandonBVarnell I think it's a bit too early, the emotional stakes don't feel challenging enough yet. But who knows if there's a surprise in the next episode.
A NASDAQ-listed company just raised $110M to buy one token.
@berachain's $BERA trades at $210M market cap with $850M TVL.
Daily transactions +150% in a week.
While everyone FOMOs into pumped L1s, Berachain is the most undervalued infrastructure play in crypto. Here's why 🧵
Early next week, we expect to launch a claims page, allowing anyone who lost funds in the Balancer v2 / BEX exploit to reclaim their deposits from the BEX.
For anyone who deposited through a vault contract (ie. Infrared), your original address used for the deposit (into Infrared etc) will be able to claim the funds directly.
In the meantime, a CSV will be published with all wallets and their expected claimable holdings. All recovered funds will be returned to users. We believe these to be equivalent to approximately 96% of the deposited value in most pools.
For funds which remain in the BEX, we expect to perform an additional hard fork later next week to unblock the BEX contracts at the VM level, then follow a similar process to Balancer's most recent communications in terms of enabling Recovery Mode on Composable Stable v6 pools, and re-enabling the use of non-Composable Stable Pools. More info to come on this in the near future.
Thanks in advance for your support and patience as we get funds back to users in the safest manner possible.
Berachain.