Latest / Panic Drop Podcast / Th 8/10 | Daily Crypto & Macro News

Transcript

Th 8/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:02
  SPEAKER_01: It's where we find the truth.
• 0:05
  SPEAKER_00: Happy Thursday all and let's get into what happened over the past 24 hours
• 0:09
  SPEAKER_00: because we saw another wave of selling hit the crypto market.
• 0:13
  SPEAKER_00: Bitcoin fell 3.4% with about 550 million liquidated across over 123,000 traders.
• 0:22
  SPEAKER_00: And this time the institutional flow was negative
• 0:25
  SPEAKER_00: because BlackRock ETF clients sold 207 million dollars of Bitcoin
• 0:31
  SPEAKER_00: while also offloading 201 million of Ethereum.
• 0:36
  SPEAKER_00: Despite the selling pressure,
• 0:37
  SPEAKER_00: there are some bullish signals underneath because Bitcoin available
• 0:41
  SPEAKER_00: on exchanges fell to its lowest level in seven months,
• 0:44
  SPEAKER_00: which typically indicates holders are moving coins into cold storage rather
• 0:48
  SPEAKER_00: than preparing to sell.
• 0:51
  SPEAKER_00: Robinhood added 25 million of Bitcoin to its corporate balance sheet,
• 0:55
  SPEAKER_00: joining the growing list of companies with Bitcoin treasuries.
• 0:59
  SPEAKER_00: And Charles Schwab,
• 1:00
  SPEAKER_00: which oversees $13 trillion,
• 1:02
  SPEAKER_00: said 64% of millennials plan to buy Bitcoin and crypto,
• 1:07
  SPEAKER_00: which is a massive demand pool waiting to enter.
• 1:11
  SPEAKER_00: The institutional infrastructure keeps expanding because Russia's largest bank,
• 1:15
  SPEAKER_00: Spurbank,
• 1:16
  SPEAKER_00: was approved as a crypto custodian to launch Bitcoin, Ethereum and USDT products.
• 1:23
  SPEAKER_00: And Wells Fargo is in talks with Kraken's parent company to provide crypto trading liquidity.
• 1:29
  SPEAKER_00: The CFTC reiterated that it will deliver clear crypto rules with or
• 1:34
  SPEAKER_00: without legislation from Congress,
• 1:36
  SPEAKER_00: so the regulatory path forward is becoming clearer,
• 1:40
  SPEAKER_00: even if Capitol Hill remains gridlocked.
• 1:43
  SPEAKER_00: Looking at Macro,
• 1:44
  SPEAKER_00: the Fed And it's showed most officials still expect one more rate hike this year.
• 1:49
  SPEAKER_00: But with little appetite for a rapid series of hikes,
• 1:52
  SPEAKER_00: the 10-year yield sat near 5.33% and Brent crude was above $102.
• 1:59
  SPEAKER_00: India hiked rates for the first time since 2023 with a 25 basis point increase to 5.5%.
• 2:07
  SPEAKER_00: And the US Treasury is set to buy back up to $6 billion in longer term debt.
• 2:12
  SPEAKER_00: China bought seven hundred forty thousand ounces
• 2:15
  SPEAKER_00: of gold worth three point one billion dollars,
• 2:19
  SPEAKER_00: marking its twenty third straight month of accumulation,
• 2:22
  SPEAKER_00: and it now holds about three hundred twenty three point five billion
• 2:25
  SPEAKER_00: in gold reserves.
• 2:27
  SPEAKER_00: President Trump said more oil has passed through the Strait of Hormuz in
• 2:31
  SPEAKER_00: the last three nights than ever before and called the US economy
• 2:35
  SPEAKER_00: the greatest it has ever had.
• 2:38
  SPEAKER_00: In a notable recognition,
• 2:39
  SPEAKER_00: Trump is set to award the National Medal SpaceX is reportedly seeking
• 2:43
  SPEAKER_00: about $40 billion in financing to
• 2:57
  SPEAKER_00: Fund large Nvidia chip purchases,
• 3:00
  SPEAKER_00: including roughly 10 billion in bank loans and 30 billion in investment grade debt.
• 3:06
  SPEAKER_00: Apply digital posted revenue of 341 million versus about 135 million.
• 3:12
  SPEAKER_00: Webble crashed 20% after a US House panel flagged
• 3:28
  SPEAKER_00: In Altcoin news,
• 3:32
  SPEAKER_00: Samsung is partnering with Solana to enable stablecoin transactions
• 3:37
  SPEAKER_00: for 82 million devices in the US through Samsung wallet.
• 3:41
  SPEAKER_00: Solana passed one It's where we find the truth.
• 4:05
  [music]