Latest / Panic Drop Podcast / Tu 6/10 | Daily Crypto & Macro News

Transcript

Tu 6/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:05
  SPEAKER_00: Happy Tuesday all,
• 0:07
  SPEAKER_00: and let's get into what happened over the past 24 hours because there is a lot
• 0:11
  SPEAKER_00: of ground to cover.
• 0:12
  SPEAKER_00: Starting overseas because Japan's 10-year government bond yield hit 3.1%,
• 0:18
  SPEAKER_00: which is the highest in about 30 years.
• 0:20
  SPEAKER_00: And when the world's largest creditor nation sees yields at three-decade highs,
• 0:25
  SPEAKER_00: that tends to have ripple effects across global markets.
• 0:29
  SPEAKER_00: Speaking of big numbers,
• 0:31
  SPEAKER_00: Elon Musk is officially a trillionaire again after SpaceX stock surged past $160,
• 0:38
  SPEAKER_00: pushing the company to a $2.23 trillion market cap,
• 0:42
  SPEAKER_00: which makes him the first person to reach We claim that status after losing it.
• 0:47
  SPEAKER_00: The Nasdaq closed about 0.8% higher at a fresh record even with
• 0:52
  SPEAKER_00: the 10-year Treasury yield sitting near 5.3% and Nvidia added another 1.5%
• 0:59
  SPEAKER_00: Because that stock simply does not know how to go down for long.
• 1:04
  SPEAKER_00: Western Digital and Seagate rebounded 5-6% after Friday's sell-off
• 1:09
  SPEAKER_00: as analysts called Toshiba Supply Fears Overdone.
• 1:12
  SPEAKER_00: PTC Surged 30%.
• 1:14
  SPEAKER_00: 34% after Schneider Electric agreed to buy the industrial software company for $22.6 billion.
• 1:22
  SPEAKER_00: And Option Care Health jumped 21% after hours on reports that McKesson is nearing
• 1:27
  SPEAKER_00: a takeover worth more than $500.
• 1:30
  SPEAKER_00: Qualcomm rose after signing a multi-year licensing deal with Huawei,
• 1:35
  SPEAKER_00: covering 5G, AI,
• 1:36
  SPEAKER_00: computing and networking, which is interesting given all the geopolitical tensions.
• 1:42
  SPEAKER_00: Now for the crypto regulatory news,
• 1:43
  SPEAKER_00: because we got a lot of it,
• 1:45
  SPEAKER_00: The SEC approved the first three times leveraged Bitcoin and Ethereum products
• 1:51
  SPEAKER_00: from volatility shares for listing on CBOEBZX,
• 1:56
  SPEAKER_00: built on CME futures rather than spot holdings,
• 1:59
  SPEAKER_00: and the FTC proposed its first round of rules for US crypto markets
• 2:04
  SPEAKER_00: with Chair Mike Selig saying clear rules of the road start now.
• 2:09
  SPEAKER_00: Tyler Winklevoss chimed in saying clear rules for crypto are coming and in
• 2:14
  SPEAKER_00: a surprise move The US Treasury withdrew proposed surveillance rules
• 2:18
  SPEAKER_00: that targeted unhosted wallets and crypto mixers,
• 2:22
  SPEAKER_00: which is a win for privacy advocates.
• 2:25
  SPEAKER_00: US spot Bitcoin ETFs took in $241 million last week,
• 2:31
  SPEAKER_00: marking a third straight week of net inflows,
• 2:34
  SPEAKER_00: and Polymarket now prices a 59% chance Bitcoin finishes this month above 90,000.
• 2:42
  SPEAKER_00: TD Cowan said the debate has shifted from whether institutions will participate
• 2:47
  SPEAKER_00: in Bitcoin to how they will,
• 2:49
  SPEAKER_00: which is a meaningful change in framing from a major firm.
• 2:53
  SPEAKER_00: Looking at some broader market stats,
• 2:55
  SPEAKER_00: Americans now hold more than $60 trillion in stocks and mutual funds,
• 3:00
  SPEAKER_00: which is more than triple the level a decade ago.
• 3:03
  SPEAKER_00: AI CapEx from the big five tech giants plus Oracle is expected to jump
• 3:08
  SPEAKER_00: from four $412 billion in 2025 to $789 billion in 2026, which is a 92% increase.
• 3:11
  SPEAKER_00: And Nike is now down 80% from its November 2021 peak, marking the largest drawdown in
• 3:25
  SPEAKER_00: The 2020s are on pace to be the worst decade on record for the 10-year Treasury,
• 3:30
  SPEAKER_00: with an annualised total return of negative 1.3% so far,
• 3:35
  SPEAKER_00: and US real estate stocks are at their lowest level ever relative to the S&P 500.
• 3:42
  SPEAKER_00: In altcoin news,
• 3:43
  SPEAKER_00: Bitmine now holds more than 6 million Ethereum,
• 3:46
  SPEAKER_00: which is about 4.9% of total supply with total holdings at $17.4 billion.
• 3:53
  SPEAKER_00: And a former federal regulator said young investors in Africa are saving in Bitcoin
• 3:58
  SPEAKER_00: and see it as a path to a better financial future,
• 4:01
  SPEAKER_00: which is a powerful reminder of why this technology matters.
• 4:05
  SPEAKER_00: That's your Tuesday update.
• 4:06
  SPEAKER_00: I'll see you all tomorrow.
• 4:07
  [music]