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Transcript

We 28/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:02
  SPEAKER_01: Happy Wednesday all and it's a big one because the Fed speaks today and Microsoft
• 0:06
  SPEAKER_01: and Alphabet report tonight.
• 0:08
  SPEAKER_01: Let's start with Bitcoin which is trading around $80,900 up almost 2% on the day
• 0:12
  SPEAKER_01: after briefly taking back $81,000.
• 0:18
  SPEAKER_01: It now sits 5% above its 50-week moving average and has held above it
• 0:23
  SPEAKER_01: for six straight weeks, which some analysts call the early innings of a bull market.
• 0:29
  SPEAKER_01: Spot Bitcoin ETFs pulled in about $110 million Fun fact,
• 0:33
  SPEAKER_01: more than 37% of all Bitcoin hasn't moved in four years or more,
• 0:35
  SPEAKER_01: so the diamond hands are
• 0:47
  SPEAKER_01: Clearly not answering the phone.
• 0:49
  SPEAKER_01: Meanwhile,
• 0:50
  SPEAKER_01: US national debt hit a fresh record of $40.5 trillion,
• 0:55
  SPEAKER_01: which is quietly the best Bitcoin ad nobody paid for.
• 0:58
  SPEAKER_01: Over in stocks,
• 0:59
  SPEAKER_01: Nvidia is set to invest $3 billion in Meta and a $63 billion deal backed by
• 1:05
  SPEAKER_01: the big banks and Blackstone will buy AI chips built on Broadcom technology to lease
• 1:10
  SPEAKER_01: to Anthropic.
• 1:11
  SPEAKER_01: Only Apple and Nvidia are beating the market among the magnificent seven this year,
• 1:15
  SPEAKER_01: and yes, they are number one and two in free cash flow, so cash still talks.
• 1:21
  SPEAKER_01: Earnings were busy too.
• 1:22
  SPEAKER_01: Visa beat, but guided to slower growth.
• 1:25
  SPEAKER_01: Seagate exploded SoFi was higher on AI storage demand with revenue, up 61%,
• 1:30
  SPEAKER_01: and Robinhood had record sales but missed on profit,
• 1:33
  SPEAKER_01: dropping about 5.5% after hours.
• 1:37
  SPEAKER_01: SoFi jumped around 11% after raising its outlook.
• 1:41
  SPEAKER_01: The strangest headline of the day,
• 1:42
  SPEAKER_01: President Trump says the US will ban the term artificial intelligence
• 1:46
  SPEAKER_01: in all documents.
• 1:48
  SPEAKER_01: So good luck to whoever writes those memos.
• 1:50
  SPEAKER_01: Now to crypto.
• 1:52
  SPEAKER_01: Ethereum is up about 2% to around $2,350.
• 1:57
  SPEAKER_01: Ripple had a monster day teaming up with Robinhood to make its RLUSD stablecoin
• 2:02
  SPEAKER_01: a key stablecoin across the platform and expanding with BNY to add XRP and RLUSD
• 2:09
  SPEAKER_01: to its custody platform.
• 2:11
  SPEAKER_01: XRP Wales now hold about 68.5% of the supply,
• 2:13
  SPEAKER_01: the most since late 2022, and XRP trades near $1.33.
• 2:15
  SPEAKER_01: Solana is back above $102, and Hyperliquid jumped about 5% to a
• 2:26
  SPEAKER_01: That's your Wednesday recap,
• 2:27
  SPEAKER_01: if you enjoyed it make sure to follow me and tune in tomorrow for the next one.
• 2:45
  [music]