Latest / Panic Drop Podcast / Fr 9/10 | Daily Crypto & Macro News

Transcript

Fr 9/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:05
  SPEAKER_00: Happy Friday all and let's close out the week with everything that happened over
• 0:09
  SPEAKER_00: the past 24 hours because it was a brutal day for crypto.
• 0:13
  SPEAKER_00: Bitcoin fell below $81,000 as Brent crude climbed to a monthly high of $105 a barrel
• 0:19
  SPEAKER_00: and the Dow The damage was severe with 1.05 billion
• 0:23
  SPEAKER_00: in long positions liquidated affecting nearly 190,000 traders,
• 0:29
  SPEAKER_00: which is one of the biggest wipeouts we have seen in months.
• 0:32
  SPEAKER_00: The institutional selling continued because BlackRock ETF clients sold $207 million
• 0:39
  SPEAKER_00: of Bitcoin and Fidelity,
• 0:41
  SPEAKER_00: offloaded another $197 million,
• 0:44
  SPEAKER_00: while the US government added to the negative sentiment by moving over $1 billion
• 0:49
  SPEAKER_00: of Bitcoin seized On the Ethereum side,
• 0:55
  SPEAKER_00: BlackRock clients sold 116 million adding to the pain across the board
• 1:01
  SPEAKER_00: and pretty much every major alt got hit with Ethereum falling under 20%.
• 1:05
  SPEAKER_00: The fear and greed index fell to neutral for the first time since August,
• 1:10
  SPEAKER_00: which tells you sentiment has shifted significantly.
• 1:21
  SPEAKER_00: Despite all this selling,
• 1:23
  SPEAKER_00: there are still plenty of bullish voices
• 1:25
  SPEAKER_00: because TD Cowan raised its Bitcoin price projection to 109,000 by year end,
• 1:29
  SPEAKER_00: 2026 and 280,000 by 2029.
• 1:36
  SPEAKER_00: Calamo said Bitcoin is going to 1 million by 2030 and 21 Capital said Merrill,
• 1:42
  SPEAKER_00: Bank of America and Goldman are now suggesting clients hold part of their portfolio
• 1:47
  SPEAKER_00: in Bitcoin, which is a massive shift from traditional wealth management.
• 1:52
  SPEAKER_00: Polymarket still puts a 59% chance on Bitcoin finishing the year above 90,000,
• 1:58
  SPEAKER_00: so the market is not giving up on a recovery.
• 2:00
  SPEAKER_00: The institutional infrastructure keeps growing because Sberbank is preparing
• 2:05
  SPEAKER_00: to launch Bitcoin
• 2:09
  SPEAKER_00: Standard Chartered announced plans to provide custody services
• 2:13
  SPEAKER_00: in Singapore and the CFTC said America is no longer sitting back
• 2:19
  SPEAKER_00: while crypto moves overseas and is moving ahead with a market structure framework
• 2:23
  SPEAKER_00: without the Clarity Act.
• 2:26
  SPEAKER_00: The Nasdaq CEO said blockchain-based tokenization will transform global finance
• 2:32
  SPEAKER_00: and unleash tens of billions of dollars in capital.
• 2:36
  SPEAKER_00: In tech news,
• 2:37
  SPEAKER_00: SpaceX said it will turn Starlink into a major US mobile carrier
• 2:42
  SPEAKER_00: after buying nationwide 800 MHz spectrum which sent AT&T,
• 2:47
  SPEAKER_00: Verizon and T-Mobile down 7-8% because nobody wants to compete with Elon.
• 2:53
  SPEAKER_00: Speaking of Elon,
• 2:54
  SPEAKER_00: he said SpaceX will be worth orders of magnitude more than the current Earth economy
• 2:59
  SPEAKER_00: and President Trump called him one of the greatest technology founders to ever live.
• 3:05
  SPEAKER_00: Trump also said anyone who uses artificial intelligence instead
• 3:09
  SPEAKER_00: of super intelligence is the enemy so we are apparently rebranding now.
• 3:15
  SPEAKER_00: The Nasdaq fell about 1.4% and the SOX dropped 4%.
• 3:20
  SPEAKER_00: After a report put OpenAI annualised revenue near $50 billion,
• 3:24
  SPEAKER_00: which was below a previously signalled $70 billion.
• 3:28
  SPEAKER_00: And that dragged down ARM 8%, Oracle 5%, and AMD and Broadcom about 3%.
• 3:35
  SPEAKER_00: The average 30-year mortgage rate is 7.4%, which is the highest since November 2023.
• 3:42
  SPEAKER_00: In Altcoin news, the EU ordered crypto firms to remove Tether's USDT by January 8, 2027.
• 3:50
  SPEAKER_00: Samsung partnered with Solana for stablecoin payments on US$82 million devices.
• 3:56
  SPEAKER_00: The Wall Street Journal reported It's where we find the truth.
• 3:58
  SPEAKER_00: Listen to the Panic Drop.
• 4:20
  [music]