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Transcript

Mo 7/9 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:05
  SPEAKER_00: Happy Monday, everybody.
• 0:06
  SPEAKER_00: Let's get into what's been happening over the past 24 hours
• 0:09
  SPEAKER_00: because we've got some significant developments to cover.
• 0:12
  SPEAKER_00: Even though US markets are closed today for Labor Day,
• 0:15
  SPEAKER_00: Bitcoin closed above the 50-week moving average for the first time
• 0:19
  SPEAKER_00: since November 2025.
• 0:21
  SPEAKER_00: Which is a meaningful technical milestone that bulls have been waiting for.
• 0:25
  SPEAKER_00: Polymarket now prices a 72% chance that Bitcoin finishes September above $82,500
• 0:31
  SPEAKER_00: and Calshi traders see less than
• 0:36
  SPEAKER_00: There's a 16% chance Bitcoin hits 50,000 before 100,000,
• 0:41
  SPEAKER_00: so the market is clearly leaning bullish on where we go from here.
• 0:45
  SPEAKER_00: Bitcoin now represents 1% of global money according to River,
• 0:50
  SPEAKER_00: which really puts the adoption story into perspective.
• 0:54
  SPEAKER_00: US Bitcoin ETFs took in $986.8 million this week
• 0:57
  SPEAKER_00: and Strategy bought another 4,603 Bitcoin for $369 million.
• 0:59
  SPEAKER_00: So institutional and corporate demand remains strong.
• 1:13
  SPEAKER_00: Unfortunately,
• 1:14
  SPEAKER_00: not all news was positive as hackers stole about 4,000 Bitcoin worth $320 million
• 1:20
  SPEAKER_00: from the Liquid Network,
• 1:22
  SPEAKER_00: though the attackers claimed they are white hats and told holders
• 1:25
  SPEAKER_00: to contact them on-chain.
• 1:28
  SPEAKER_00: So we'll see how that situation develops.
• 1:30
  SPEAKER_00: On the macro side,
• 1:31
  SPEAKER_00: the Fed plans to buy up to $2.122 billion in Treasury bills next week as part of
• 1:38
  SPEAKER_00: about $17 billion in reinvestment purchases.
• 1:42
  SPEAKER_00: The number of 401k millionaires hit a new all-time high of 769,000,
• 1:49
  SPEAKER_00: which shows retirement accounts are benefiting from the market rally.
• 1:53
  SPEAKER_00: President Trump said he made hundreds of billions of dollars from stocks for the U.S.
• 1:58
  SPEAKER_00: Adding it was not himself.
• 2:00
  SPEAKER_00: The 10-year yield sits near 4.78% and oil edged higher on fresh US-Iran tensions
• 2:08
  SPEAKER_00: after attacks on ships in the Gulf, with Brent near $96 and WTI near $92.
• 2:16
  SPEAKER_00: Oracle and Adobe report later this week and Friday's CPI print is
• 2:21
  SPEAKER_00: the next major data test for Fed expectations.
• 2:25
  SPEAKER_00: On the regulatory front,
• 2:27
  SPEAKER_00: SEC Chair Paul Atkins said he expects
• 2:30
  SPEAKER_00: the crypto clarity Russia's new cryptocurrency law also took effect,
• 2:33
  SPEAKER_00: adding another major economy
• 2:46
  SPEAKER_00: On the altcoin side, altcoins have flipped bitcoin in open interest.
• 3:02
  SPEAKER_00: Signaling growing appetite for risk further out on the curve.
• 3:06
  SPEAKER_00: Robinhood chain led major networks in weekly fees at $16.8 million
• 3:12
  SPEAKER_00: with combined assets on the chain closing in on a $2 billion market cap.
• 3:17
  SPEAKER_00: Hype printed a new all-time high and traded at $88.888, continuing its remarkable run.
• 3:25
  SPEAKER_00: Pons and FOMO flipped Hyperliquid in 24-hour revenue,
• 3:30
  SPEAKER_00: showing how competitive the trading platform space has become.
• 3:34
  SPEAKER_00: Solana co-founder Tully said Solana added 10 Robinhood's worth
• 3:38
  SPEAKER_00: of capacity this year,
• 3:39
  SPEAKER_00: and that spreads and fees on Arbitrum and Robinhood look worse right now.
• 3:45
  SPEAKER_00: BlackRock clients bought $57.79 million of Ethereum
• 3:49
  SPEAKER_00: and BitMine bought 53,501 Ethereum for $131 million.
• 3:55
  SPEAKER_00: So there's serious accumulation happening on the Ethereum side as well.
• 4:00
  SPEAKER_00: That's your crypto and finance wrap for today.
• 4:02
  SPEAKER_00: Make sure to follow along and I'll catch you tomorrow with another update.
• 4:06
  SPEAKER_01: Panic Drop is where we find the truth.
• 4:09
  SPEAKER_01: Listen to the Panic Drop.