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Transcript

Fr 2/10 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:05
  SPEAKER_00: Happy Friday all and let's close out the week with everything you need to know from
• 0:09
  SPEAKER_00: the past 24 hours.
• 0:11
  SPEAKER_00: Bitcoin is trading back above $86,000 after about $110 million
• 0:16
  SPEAKER_00: in shorts got liquidated in a 10 minute burst and BlackRock ETFs.
• 0:20
  SPEAKER_00: The ETF clients added another $195 million to their positions.
• 0:26
  SPEAKER_00: The fear and greed index rose to 74,
• 0:29
  SPEAKER_00: which puts us back in greed territory,
• 0:31
  SPEAKER_00: and Polymarket is giving a 56% chance that Bit Bitcoin finishes the month
• 0:37
  SPEAKER_00: above 90,000.
• 0:39
  SPEAKER_00: Looking at the bigger picture,
• 0:40
  SPEAKER_00: Bitcoin closed Q3 up 39.6%,
• 0:43
  SPEAKER_00: which beat gold,
• 0:45
  SPEAKER_00: the S&P 500 and silver, and October has historically finished green in 11%.
• 0:50
  SPEAKER_00: I-Trust Capital CEO said more than half of their clients have been buying since the 58,000 low.
• 1:17
  SPEAKER_00: On the regulatory front,
• 1:19
  SPEAKER_00: SEC Chair,
• 1:21
  SPEAKER_00: Paul Atkins said crypto has grown from a niche curiosity into
• 1:26
  SPEAKER_00: a multi-trillion dollar asset class,
• 1:28
  SPEAKER_00: and the SEC proposed a new custody framework for investment advisors
• 1:33
  SPEAKER_00: and regulated funds,
• 1:35
  SPEAKER_00: while Congress is considering rules that would let banks
• 1:39
  SPEAKER_00: and credit unions hold digital assets and use blockchain.
• 1:44
  SPEAKER_00: Illinois postponed that controversial plan to tax crypto transactions,
• 1:49
  SPEAKER_00: whether or not they are profitable, which is a relief.
• 1:52
  SPEAKER_00: Though EU regulators said they need more powers over crypto
• 1:57
  SPEAKER_00: and continued questioning binance, Now,
• 2:00
  SPEAKER_00: for the pain in traditional markets because Nike fell to a 10-year low
• 2:05
  SPEAKER_00: after earnings with revenue of $11.21 billion missing estimates.
• 2:10
  SPEAKER_00: Greater China sales dropping more than 20%.
• 2:14
  SPEAKER_00: And guidance for a high single digit revenue decline in fiscal 2027,
• 2:20
  SPEAKER_00: which sent the stock down about 8% after hours.
• 2:24
  SPEAKER_00: The housing market is feeling pressure too,
• 2:26
  SPEAKER_00: because the average 30 year mortgage rate The trading rate rose to the highest level
• 2:30
  SPEAKER_00: since 2023 with Prince in the 7.3 to 7.6% range.
• 2:32
  SPEAKER_00: The 30-year Treasury yield sat around 5.6 to 5.7% and
• 2:33
  SPEAKER_00: the Bloomberg Aggregate Bond Index fell 2.6% in September making it one
• 2:37
  SPEAKER_00: the worst months in 30 years.
• 2:52
  SPEAKER_00: Goldman Sachs moved its forecast for the next Fed rate hike to December,
• 2:57
  SPEAKER_00: while President Trump said inflation is totally under control.
• 3:02
  SPEAKER_00: Speaking of Trump,
• 3:03
  SPEAKER_00: he said the US government might take ownership stakes in open AI,
• 3:07
  SPEAKER_00: and other AI companies.
• 3:09
  SPEAKER_00: And the Wall Street Journal reported he told aides he expects bombing of Iran
• 3:14
  SPEAKER_00: to resume by the end of November.
• 3:16
  SPEAKER_00: Energy markets remain tight because China suspended fuel exports
• 3:20
  SPEAKER_00: until further notice with PetroChina Canceling gasoline and jet fuel shipments
• 3:25
  SPEAKER_00: as stockpiles sit at multi-year lows,
• 3:28
  SPEAKER_00: and the US reportedly threatened an export ban on France and Germany
• 3:32
  SPEAKER_00: if they do not release emergency diesel reserves.
• 3:36
  SPEAKER_00: In tech news,
• 3:37
  SPEAKER_00: Amazon plans to sell $8 billion of Nvidia chips to investors and signed
• 3:42
  SPEAKER_00: a 20-year power deal with Constellation Energy for 190 megawatts
• 3:47
  SPEAKER_00: of new nuclear capacity, plus more than $3 billion in investment.
• 3:52
  SPEAKER_00: Synopsys rose about 11% after partnerships with OpenAI and Amazon,
• 3:58
  SPEAKER_00: including an AWS chip design deal worth more than $1 billion,
• 4:02
  SPEAKER_00: and OnSemi revised its Synaptics takeover to $123 a share in cash,
• 4:08
  SPEAKER_00: which is about $5.7 billion.
• 4:11
  SPEAKER_00: Google unveiled Gemini 4 Argon aimed at coding,
• 4:14
  SPEAKER_00: enterprise work and cybersecurity,
• 4:17
  SPEAKER_00: and Putin said there is no stopping the technological progress of AI.
• 4:21
  SPEAKER_00: In altcoin news, Bitwise and Franklin ETF clients bought a combined 7.24 million of XRP.
• 4:29
  SPEAKER_00: The XRP ledger crossed 10 million agent payments.
• 4:33
  SPEAKER_00: Congress is looking at letting banks issue stablecoins.
• 4:36
  SPEAKER_00: Near Intense was exploited for more than 3.8 million and Phantom expanded to BNB chain.
• 4:43
  SPEAKER_00: That's your Friday recap.
• 4:44
  SPEAKER_00: Have a great weekend and I'll see you all on Monday.
• 4:49
  SPEAKER_01: It's where we find the truth.
• 4:52
  SPEAKER_01: Listen to the Panic Drop.