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Tu 8/9 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:05
  SPEAKER_00: Happy Tuesday, everybody.
• 0:07
  SPEAKER_00: Let's get into what's been happening over the past 24 hours because Bitcoin slipped
• 0:12
  SPEAKER_00: below $80,000 again, but the broader trend still looks constructive.
• 0:18
  SPEAKER_00: US spot Bitcoin ETFs record So, Institutional Demand
• 0:36
  SPEAKER_00: Strive's CEO hinted the public company could buy more Bitcoin,
• 0:43
  SPEAKER_00: calling it wall-breaking season,
• 0:45
  SPEAKER_00: and Kalshi traders are forecasting a high of $85,000 for Bitcoin this month.
• 0:51
  SPEAKER_00: The Liquid Network hack situation is developing with
• 0:54
  SPEAKER_00: about 4,000 Bitcoin worth $320 million withdrawn,
• 0:59
  SPEAKER_00: but the attacker has been communicating with maintainers via on-chain transactions
• 1:04
  SPEAKER_00: and said the coins would be returned once the vulnerability is fixed.
• 1:08
  SPEAKER_00: So hopefully that resolves peacefully.
• 1:11
  SPEAKER_00: On the macro front,
• 1:12
  SPEAKER_00: markets now price a 60% chance of a 25 basis point hike at
• 1:16
  SPEAKER_00: the September 16th meeting, 71% by October and 86% by year-end.
• 1:24
  SPEAKER_00: UBS also shifted its outlook and now expects hikes in both September and December,
• 1:30
  SPEAKER_00: so the higher for longer narrative is really taking hold.
• 1:34
  SPEAKER_00: Gasoline hit a record $4.15 per gallon on Labor Day and US consumers have spent
• 1:40
  SPEAKER_00: an estimated $100 billion extra on fuel since late February amid the Iran war,
• 1:46
  SPEAKER_00: with WTI crude up 36% and gasoline up 39% over that period.
• 1:54
  SPEAKER_00: The average 30-year US mortgage rate sits at 6.71%,
• 1:59
  SPEAKER_00: the highest since July 2025, so housing affordability continues to be a challenge.
• 2:06
  SPEAKER_00: On the global trade front, China posted a $119 billion trade surplus in August.
• 2:13
  SPEAKER_00: Canada's retaliatory tariffs on select US imports officially took effect.
• 2:19
  SPEAKER_00: The Japanese yen rose to its highest level since May,
• 2:22
  SPEAKER_00: and the Panama Canal warned it may cut daily ship crossings again.
• 2:27
  SPEAKER_00: So there's a lot of moving pieces in the global economy right now.
• 2:31
  SPEAKER_00: Upcoming earnings this week include Oracle,
• 2:34
  SPEAKER_00: Adobe, Chewy, American Eagle, Kroger and AeroVinement.
• 2:38
  SPEAKER_00: OpenAI's top scientists warn that AI is advancing
• 2:42
  SPEAKER_00: so quickly it is becoming increasingly difficult for humans to understand.
• 2:48
  SPEAKER_00: Which is a pretty sobering statement from someone on the inside.
• 2:52
  SPEAKER_00: On the altcoin side,
• 2:53
  SPEAKER_00: Ethereum plans to let users pay transaction fees with stablecoins instead
• 2:58
  SPEAKER_00: of Ethereum starting in 2027.
• 3:01
  SPEAKER_00: which would be a significant change to how the network operates.
• 3:05
  SPEAKER_00: XRP futures activity surged to a six-month high amid recent price volatility.
• 3:12
  SPEAKER_00: Ghost jumped 86% in 24 hours
• 3:16
  SPEAKER_00: On speculation of a possible Solana integration for its privacy tech.
• 3:20
  SPEAKER_00: In some unusual news,
• 3:22
  SPEAKER_00: Hunter Biden is reportedly preparing to launch a memcoin tied to his laptop,
• 3:27
  SPEAKER_00: though Channel 5 News publicly distanced itself From the project,
• 3:32
  SPEAKER_00: Hanwha Investment and Securities,
• 3:34
  SPEAKER_00: part of the $200 billion Korean conglomerate,
• 3:38
  SPEAKER_00: is building a tokenization platform on Avalanche as South Korea accelerates plans
• 3:43
  SPEAKER_00: to put securities on chain.
• 3:46
  SPEAKER_00: On-chain terminals saw $6.35 billion in volume,
• 3:50
  SPEAKER_00: described as the biggest week in the trenches since the Trump coin launch.
• 3:55
  SPEAKER_00: Robinhood chain spot volume has tripled since early August,
• 3:59
  SPEAKER_00: with weekly DEX volume reaching $10.5 billion and $30 million in revenue last week,
• 4:06
  SPEAKER_00: showing incredible growth for that ecosystem.
• 4:10
  SPEAKER_00: That's your crypto and finance wrap for today.
• 4:12
  SPEAKER_00: Make sure to follow along and I'll catch you tomorrow with another update.
• 4:16
  SPEAKER_01: Panic Drop is where we find the truth.
• 4:20
  SPEAKER_01: Listen to the Panic Drop.