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Transcript

Sa 17/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:00
  SPEAKER_00: Happy Saturday all and let's get into everything that happened over
• 0:03
  SPEAKER_00: the past 24 hours because it was a rough end to the week for risk assets with
• 0:08
  SPEAKER_00: the Nasdaq dropping 2.1%, the S&P 500 falling 1.1% and the Dow
• 0:15
  SPEAKER_00: Now declining 0.3%.
• 0:18
  SPEAKER_00: Micron and Intel each dropped more than 5% as tech selling accelerated and
• 0:24
  SPEAKER_00: the Nasdaq lost 4.5% this week, which is its worst week since June.
• 0:30
  SPEAKER_00: The AI trade had a brutal stretch.
• 0:32
  SPEAKER_00: Bank of America warned that the AI investment surge is starting to look like a cycle
• 0:38
  SPEAKER_00: that could end in a major collapse soon,
• 0:40
  SPEAKER_00: which is concerning given how much capital has poured into the space.
• 0:45
  SPEAKER_00: BlackRock sold $71.78 million worth of Bitcoin and $69.68 million worth of Ethereum,
• 0:54
  SPEAKER_00: so the institutional selling pressure continues.
• 0:58
  SPEAKER_00: Brent crude oil surged over $111, adding to inflation concerns.
• 1:05
  SPEAKER_00: The S&P 500's 1.1% decline on Friday was its 20th daily drop of more than 1% this year.
• 1:14
  SPEAKER_00: But for context, the average year since 1928 has seen 29 such declines.
• 1:21
  SPEAKER_00: So, this is normal volatility.
• 1:23
  SPEAKER_00: During the 2026 fiscal year,
• 1:26
  SPEAKER_00: the US federal government took in $5.4 trillion and spent $7.4 trillion,
• 1:32
  SPEAKER_00: which tells you everything about the deficit situation.
• 1:36
  SPEAKER_00: The Fed has failed at its price stability mandate because
• 1:39
  SPEAKER_00: since January 2020 consumer prices have risen at a 4% annualized rate,
• 1:45
  SPEAKER_00: which is double the 2% target, and the CPI is now 14%.
• 1:56
  SPEAKER_00: Strategy fell about 6% after MSCI adopted new rules
• 2:02
  SPEAKER_00: that could exclude Bitcoin treasury firms from its global indexes.
• 2:06
  SPEAKER_00: With the final list due November 11th and taking effect November 30th,
• 2:12
  SPEAKER_00: creating a risk of forced selling by index funds.
• 2:15
  SPEAKER_00: On the bullish side,
• 2:17
  SPEAKER_00: El Salvador bought another Bitcoin for its strategic Bitcoin reserve,
• 2:21
  SPEAKER_00: and now holds 7807 BTC.
• 2:27
  SPEAKER_00: Charles Schwab rolled out Schwab crypto allowing 40 million clients
• 2:32
  SPEAKER_00: to buy Bitcoin directly inside their accounts and Deutsche Bank is set
• 2:37
  SPEAKER_00: to launch Bitcoin custody for its clients within weeks.
• 2:41
  SPEAKER_00: The Bitcoin market value to realized value momentum oscillator has turned positive
• 2:47
  SPEAKER_00: and this signal that has called every cycle bottom just printed again near $83,000.
• 2:55
  SPEAKER_00: Bitcoin has risen 113% against silver over the past nine months
• 3:01
  SPEAKER_00: and historically this momentum is bullish for Bitcoin.
• 3:05
  SPEAKER_00: TSMC raised its 2026 growth forecast
• 3:09
  SPEAKER_00: with its CEO indicating AI accelerator revenue could grow faster than
• 3:14
  SPEAKER_00: the previously expected 55% annually through 2029.
• 3:21
  SPEAKER_00: Tesla rose after unveiling the new Roadster including
• 3:24
  SPEAKER_00: a SpaceX-assisted version capable of brief flight with production targeted for 2028
• 3:31
  SPEAKER_00: and OpenAI CEO Sam Altman praised the Roadster saying it looks amazing.
• 3:38
  SPEAKER_00: Anthropic said its Claude Mythos AI model designed highly efficient quantum circuits
• 3:43
  SPEAKER_00: that could bring quantum computing within reach sooner.
• 3:47
  SPEAKER_00: In altcoin news,
• 3:48
  SPEAKER_00: Japan's three biggest banks successfully completed their first cross PumFund
• 3:56
  SPEAKER_00: launched stablecoin payments
• 3:58
  SPEAKER_00: through Visa Direct enabling near instant global payouts using USDC across more
• 4:04
  SPEAKER_00: than 180 countries.
• 4:07
  SPEAKER_00: PumFund launched Crypto perpetual futures trading powered by Hyperliquid
• 4:12
  SPEAKER_00: and CZ questioned whether Solana knows the local policies in China
• 4:16
  SPEAKER_00: after their Shanghai event was reportedly suspended.
• 4:20
  SPEAKER_00: That's your Saturday recap, enjoy your weekend and I'll see you all tomorrow.