I had a similar issue with the "can't connect to the market place" thing, how I got it fixed was by archiving then reinstalling Minecraft.
I have found out when equipping a hat, the spyglass will go between the legs of a character, and that removing a hat will cause the spyglass will fly away.
I had a similar issue with the "can't connect to the market place" thing, how I got it fixed was by archiving then reinstalling Minecraft.