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Transcript

Th 15/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:05
  SPEAKER_00: Happy Thursday all and let's get into everything that happened over
• 0:09
  SPEAKER_00: the past 24 hours because it was an absolute bloodbath across risk assets
• 0:14
  SPEAKER_00: with Bitcoin falling under $81,000 and Ethereum dropping under $2,400 around.
• 0:20
  SPEAKER_00: Around 876 million in long positions were liquidated across the crypto market
• 0:25
  SPEAKER_00: in 24 hours with roughly 92,000 traders getting wiped out and about 350 million of
• 0:32
  SPEAKER_00: that came in a short window.
• 0:37
  SPEAKER_00: South Korea's Kospi tumbled as much as 8%,
• 0:40
  SPEAKER_00: triggering a circuit breaker and a 20-minute trading suspension,
• 0:44
  SPEAKER_00: which tells you how severe the risk of sentiment has become globally.
• 0:50
  SPEAKER_00: $1 trillion was wiped from the US stock market in a single day as everything sold off broadly.
• 0:57
  SPEAKER_00: Despite the carnage,
• 0:58
  SPEAKER_00: there's some bullish news
• 0:59
  SPEAKER_00: because White House director Patrick Witt said officials are exploring ways
• 1:04
  SPEAKER_00: to accumulate Stimulate more Bitcoin for the US Strategic Reserve and are working
• 1:09
  SPEAKER_00: on custody and accounting for existing holdings,
• 1:13
  SPEAKER_00: plus US Spot Bitcoin ETF still recorded 175.7 million
• 1:20
  SPEAKER_00: in inflows yesterday so institutions are buying the dip.
• 1:24
  SPEAKER_00: Fidelity Digital Assets noted that Bitcoin's momentum signal has turned positive
• 1:30
  SPEAKER_00: with trend and volatility now aligned behind recent price strength,
• 1:34
  SPEAKER_00: so the technicals are improving even as price drops.
• 1:39
  SPEAKER_00: The US Treasury is set to buy back up to $6 billion
• 1:43
  SPEAKER_00: in longer term debt again tomorrow which could provide some relief.
• 1:47
  SPEAKER_00: In earnings,
• 1:48
  SPEAKER_00: ASML reported Q3 net sales up 55% year over year to €11.7 billion,
• 1:58
  SPEAKER_00: with operating margin expanding and full-year guidance raised,
• 2:02
  SPEAKER_00: While remaining supply constrained through 2028,
• 2:06
  SPEAKER_00: so the AI chip story is still intact.
• 2:09
  SPEAKER_00: However,
• 2:10
  SPEAKER_00: AI infrastructure names including CoreWeave,
• 2:13
  SPEAKER_00: Nebius and Oracle fell as rising rates and higher debt Pressured the sector
• 2:19
  SPEAKER_00: with one core weave bond yield touching around 15%,
• 2:23
  SPEAKER_00: which is concerning for the highly leveraged players in AI.
• 2:28
  SPEAKER_00: Rocket Lab delayed the inaugural Neutron launch into 2027.
• 2:33
  SPEAKER_00: Sending the stock lower after hours.
• 2:36
  SPEAKER_00: Netflix is cutting about 1,000 jobs or roughly 6% of its workforce,
• 2:41
  SPEAKER_00: which is its largest round of layoffs since 2022.
• 2:46
  SPEAKER_00: Bank of America shares slim U.S. inflation has now stayed above the Fed's 2% target for 67%
• 3:02
  SPEAKER_00: President Trump said Japan will provide capital for a $21 billion investment in the US.
• 3:17
  SPEAKER_00: The US is considering unfreezing Russian assets to help restart peace talks with Ukraine.
• 3:23
  SPEAKER_00: And sources said the US is weighing use of a large conventional bomb against Iran,
• 3:28
  SPEAKER_00: so geopolitics remain tense.
• 3:30
  SPEAKER_00: Elon Musk said SpaceX will will probably reach a $100 trillion market cap
• 3:35
  SPEAKER_00: within 10 years unless there is a major world war.
• 3:39
  SPEAKER_00: And Barclays reported that Tesla and SpaceX may announce merger plans
• 3:44
  SPEAKER_00: before December, which would be massive news.
• 3:48
  SPEAKER_00: Earnings due before the bell today include TSMC,
• 3:52
  SPEAKER_00: Charles Schwab, PNC, Bank of New York Mellon and US Bancorp.
• 3:58
  SPEAKER_00: In altcoin news,
• 3:59
  SPEAKER_00: Bitwise ETF clients bought $747 An original Shiba Inu team member is set to launch
• 4:08
  SPEAKER_00: a project on Solana paired with SHIB.
• 4:11
  SPEAKER_00: CZ praised Solana for being able to advertise and open an office in China,
• 4:15
  SPEAKER_00: noting that BNB chain has not been able to do the same.
• 4:19
  SPEAKER_00: Polygon Labs completed its acquisition of Coin.me expanding regulated payments
• 4:24
  SPEAKER_00: across 48 US states.
• 4:27
  SPEAKER_00: Kraken is set to buy Lithuanian bank Saldobank and base flipped Robinhood crypto
• 4:33
  SPEAKER_00: in 24 hour app revenue and decentralized exchange volume.
• 4:38
  SPEAKER_00: That's your Thursday recap.
• 4:39
  SPEAKER_00: Have a great rest of your day and I'll see you all tomorrow.
• 4:43
  [music]