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Transcript

We 11/11 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:02
  SPEAKER_01: Happy Wednesday all and welcome back to the Panic Drop podcast.
• 0:06
  SPEAKER_01: Bitcoin is sitting around $73,650 this morning,
• 0:11
  SPEAKER_01: down about one and a half percent after slipping under $73,000 again yesterday
• 0:16
  SPEAKER_01: and wiping out The trigger was inflation.
• 0:23
  SPEAKER_01: October CPI came in hot at 0.4%
• 0:28
  SPEAKER_01: against 0.3% expected and that makes 68 months
• 0:32
  SPEAKER_01: in a row above the Fed's 2% target.
• 0:35
  SPEAKER_01: So the market now fully prices a quarter point rate hike in December.
• 0:39
  SPEAKER_01: Fed Governor Waller openly says rates need to go up and Goldman Sachs even pencils
• 0:45
  SPEAKER_01: in a second hike in March.
• 0:47
  SPEAKER_01: Wall Street did not love that.
• 0:49
  SPEAKER_01: The Nasdaq dropped about 1.2% and Microsoft quietly slipped past Nvidia to become
• 0:56
  SPEAKER_01: the second most valuable company on the planet,
• 1:00
  SPEAKER_01: while Bank of America pulled Nvidia and Micron From its top picks. Fun detail.
• 1:05
  SPEAKER_01: Nvidia now trades at a lower earnings multiple than Procter & Gamble.
• 1:09
  SPEAKER_01: Toilet paper beats GPUs. Who knew?
• 1:12
  SPEAKER_01: But zoom out on Bitcoin and the adoption story keeps rolling.
• 1:16
  SPEAKER_01: Square switched on Bitcoin Trump Media added
• 1:20
  SPEAKER_01: 1,510 coins last quarter.
• 1:24
  SPEAKER_01: Kazakhstan's central bank put money into crypto funds and Bitcoin ETFs.
• 1:29
  SPEAKER_01: And Miami-Dade now takes Bitcoin for property taxes.
• 1:33
  SPEAKER_01: Even Fitch says Bitcoin handled the Binance hack better than past shocks.
• 1:38
  SPEAKER_01: On earnings, CoreWeave grew revenue by 168%,
• 1:43
  SPEAKER_01: C beat and announced a billion dollar buyback, and Regetti missed.
• 1:48
  SPEAKER_01: Over in altcoin land the big banks are coming for stablecoins with Goldman, Citi,
• 1:54
  SPEAKER_01: Santander and Deutsche Bank putting 270 million dollars into a joint coin
• 1:59
  SPEAKER_01: and Visa now settles stablecoins around the clock, weekends included.
• 2:05
  SPEAKER_01: Meanwhile Tether's market cap shrank by 6.6 billion in two months, a sign liquidity is tight.
• 2:12
  SPEAKER_01: The XRP ledger is rolling out quantum-resistant accounts,
• 2:16
  SPEAKER_01: tokenized QQQ shares landed on Solana,
• 2:20
  SPEAKER_01: and X now lets you tap a Solana token cash tag and trade it right there.
• 2:24
  SPEAKER_01: Ethereum sits around $2064,
• 2:28
  SPEAKER_01: down almost 3%, and Solana is near $83.
• 2:33
  SPEAKER_01: Choppy waters, but the builders keep building.
• 2:35
  SPEAKER_01: If you enjoyed this one, give me a follow and tune in tomorrow for the next episode.
• 2:43
  SPEAKER_00: Listen to the Panic Drop.
• 2:44
  [music]