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Transcript

Su 18/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:02
  SPEAKER_01: Happy Sunday all and welcome back to your daily rundown of everything that moved
• 0:06
  SPEAKER_01: in crypto and markets over the past 24 hours.
• 0:10
  SPEAKER_01: Let's kick off with Bitcoin because the mood is quietly shifting.
• 0:13
  SPEAKER_01: Fidelity's head of Global Macro says Bitcoin may be entering
• 0:17
  SPEAKER_01: a brand There's one new four-year cycle bull market based on its power law patterns,
• 0:22
  SPEAKER_01: and he makes a fair point that bull markets rarely start with a narrative.
• 0:27
  SPEAKER_01: The fear and greed index agrees, holding at 55 right in greed territory.
• 0:33
  SPEAKER_01: And if you ever need a reminder of why patience pays,
• 0:37
  SPEAKER_01: over the last 10 years,
• 0:38
  SPEAKER_01: Nvidia is up more than 13,000% and Bitcoin more than 12,000%,
• 0:42
  SPEAKER_01: leaving the S&P 500 and its 319% in the dust.
• 0:50
  SPEAKER_01: Not everyone is at the top though.
• 0:52
  SPEAKER_01: Apple is sitting right at its all-time high while Meta,
• 0:56
  SPEAKER_01: Nvidia and Amazon are still 11-13% below their peaks
• 1:00
  SPEAKER_01: and Bitcoin is 36% off its high.
• 1:04
  SPEAKER_01: On the tech front,
• 1:05
  SPEAKER_01: Google's Willow Breakthrough cut quantum computing errors by 40 times,
• 1:09
  SPEAKER_01: which puts the spotlight back on the quantum risk for the oldest Satoshi-era coins.
• 1:14
  SPEAKER_01: Over in macro,
• 1:15
  SPEAKER_01: Japanese investors sold a net $28 billion of long-term US government
• 1:20
  SPEAKER_01: And Brent crude up 80%.
• 1:45
  SPEAKER_01: The US housing market is flipping too,
• 1:47
  SPEAKER_01: with sellers now outnumbering buyers by more than 580,000,
• 1:51
  SPEAKER_01: the biggest gap on record.
• 1:53
  SPEAKER_01: And in a stat that will sting a little,
• 1:56
  SPEAKER_01: Americans over 75 now hold 15 times the median household wealth of Gen Z
• 2:01
  SPEAKER_01: and millennials.
• 2:03
  SPEAKER_01: Next week is a big one for earnings,
• 2:05
  SPEAKER_01: with Netflix on Tuesday, Meta and Tesla on Wednesday and Spotify on Thursday.
• 2:10
  SPEAKER_01: And speaking of Tesla,
• 2:11
  SPEAKER_01: Elon Musk says the new roadster will be sentient,
• 2:14
  SPEAKER_01: so maybe it can read the earnings call for him.
• 2:18
  SPEAKER_01: Over in altcoins,
• 2:19
  SPEAKER_01: the Bank for International Settlements admits that stablecoins directly compete
• 2:23
  SPEAKER_01: with bank deposits,
• 2:24
  SPEAKER_01: which is quite the statement from the central bank of central banks.
• 2:28
  SPEAKER_01: Less than 10% of the world is invested in crypto,
• 2:31
  SPEAKER_01: so there is still plenty of room to grow, even with Ethereum, 52% below its high.
• 2:37
  SPEAKER_01: And Yuga Labs is going physical,
• 2:39
  SPEAKER_01: launching Bored Ape trading cards that each come with a Solana NFT Twin.
• 2:44
  SPEAKER_01: That's it for today.
• 2:46
  SPEAKER_01: If you enjoyed this, make sure to follow along and tune in tomorrow for another rundown.
• 2:51
  [music]