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Tu 13/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:06
  SPEAKER_00: Happy Tuesday all and let's get into everything that happened over the past 24 hours
• 0:11
  SPEAKER_00: because it was another rough day for crypto with 174,000 traders getting liquidated
• 0:17
  SPEAKER_00: and 694 million in long positions wiped out as Bitcoin briefly fell under $82,000.
• 0:26
  SPEAKER_00: South Korea's Cosby stock market crashed 6%, which added to the risk of sentiment globally.
• 0:33
  SPEAKER_00: But here's where it gets interesting because Bitcoin funding rates turned negative
• 0:38
  SPEAKER_00: for the first time in three months.
• 0:41
  SPEAKER_00: Historically,
• 0:42
  SPEAKER_00: that condition has preceded positive price action plus Bitcoin's weekly MACD
• 0:48
  SPEAKER_00: momentum flipped positive after 44 consecutive negative weeks,
• 0:53
  SPEAKER_00: which is a technical shift that has historically In traditional markets,
• 0:58
  SPEAKER_00: NVIDIA's market cap of $5.8 trillion is now more than $2 trillion higher than
• 1:03
  SPEAKER_00: the entire Russell 2000.
• 1:13
  SPEAKER_00: And the gap makes sense when you look at profitability
• 1:17
  SPEAKER_00: because Nvidia generated 193 billion in profits over the past year
• 1:23
  SPEAKER_00: while Russell 2000 companies collectively lost 14 billion.
• 1:29
  SPEAKER_00: The top 10 holdings now make up 39.5% of the S&P 500 which is
• 1:35
  SPEAKER_00: the highest concentration on record going back to 1980.
• 1:40
  SPEAKER_00: S&P 500 earnings are on pace to rise 34% this year,
• 1:47
  SPEAKER_00: with another 15% expected in 2027 totalling 54% growth over two years.
• 1:55
  SPEAKER_00: Energy has gained 51% year to date,
• 1:59
  SPEAKER_00: while consumer discretionary is down 5% creating a 56% sector spread fuelled
• 2:06
  SPEAKER_00: by war-driven inflation.
• 2:08
  SPEAKER_00: Commodity prices have surged since the start of the Iran war
• 2:12
  SPEAKER_00: with European natural gas up 163%, heating oil and jet fuel up 80%, diesel up 67%,
• 2:24
  SPEAKER_00: And sharp gains in rice, sugar and gasoline.
• 2:28
  SPEAKER_00: US mortgage rates climbed to 7.4% after rising for seven straight weeks,
• 2:34
  SPEAKER_00: which is the longest streak in three years and more More than 14%
• 2:40
  SPEAKER_00: of US home purchases were cancelled last month,
• 2:43
  SPEAKER_00: which is the highest September rate on record,
• 2:46
  SPEAKER_00: while sellers outnumber buyers by over 560,000 and pending sales set at their
• 2:53
  SPEAKER_00: Lowest level since April 2020.
• 2:57
  SPEAKER_00: Markets closed mixed with the Dow up 0.4%,
• 3:00
  SPEAKER_00: the S&P 500 down 0.1% and the NASDAQ down 0.4% as energy lead
• 3:04
  SPEAKER_00: and Brent crude settled at $106.65.
• 3:17
  SPEAKER_00: The Federal Reserve hiked rates in September and is expected to hike again
• 3:22
  SPEAKER_00: in December despite earlier market hopes for lower rates.
• 3:26
  SPEAKER_00: In Altcoin Newsbase flipped Solana in DeFi total value locked,
• 3:32
  SPEAKER_00: The Blur NFT marketplace frontend will be deprecated on November 12th,
• 3:40
  SPEAKER_00: though the protocol stays operational on-chain.
• 3:43
  SPEAKER_00: And SushiSwap is considering an acquisition of Blur.
• 3:48
  SPEAKER_00: Russia's Moscow Exchange will launch trading for Bitcoin, Ethereum and USDT on December 1st.
• 3:56
  SPEAKER_00: Standard Chartered officially launched custody services for Ripple's RLUSD.
• 4:02
  SPEAKER_00: Tom Lee's Bitmine bought 12,532 Ethereum worth $31 million
• 4:12
  SPEAKER_00: and Morgan Stanley projects the tokenized assets market will reach
• 4:17
  SPEAKER_00: between $3 trillion and $10 trillion by 2030.
• 4:22
  SPEAKER_00: That's your Tuesday recap.
• 4:24
  SPEAKER_00: Have a great rest of your day and I'll see you all tomorrow.
• 4:31
  SPEAKER_01: It's where we find the truth.
• 4:33
  SPEAKER_01: Listen to the Panic
• 4:35
  [music]