Happy Friday all!
If you missed the past 24 hours in crypto and stocks, here’s your full recap:
🚨 Major Headlines & Market Moves 🚨
- $BTC is trading around $81,750, down about 1% in 24 hours, as $383M in long positions were liquidated across the crypto market.
- US spot Bitcoin ETFs saw $528M in inflows yesterday, bringing this week’s total to $1.07B so far.
- Bitcoin dominance climbed past 60%, its highest level in 5 months, as new capital keeps flowing into Bitcoin.
- Bitcoin’s hashrate jumped to its highest level in 7 months, even as some miners shift to AI infrastructure.
- Alpha Modus acquired 3,170 Bitcoin worth $258M in Q3.
- Robinhood $HOOD got approval from the Dubai Financial Services Authority to launch Bitcoin and crypto trading in the Middle East, while Bybit also received approval to operate in Dubai.
- Stand With Crypto reports that 67 million Americans now own crypto.
- Over $750B was wiped out from the US stock market at the open, and the Nasdaq closed down 2.6% and the S&P 500 down 1.2% while the Dow ended flat, as semiconductors sank about 6.5% and money rotated into defensive sectors.
- Oil topped $112 as Brent crude jumped about 3% on renewed Middle East supply fears.
- Gold and silver dumped, with spot silver down nearly 5% at $55.17, while central banks are quietly stockpiling 4x more gold than usual and moving it out of the US.
- $200B in SpaceX $SPCX shares officially unlocked for trading, as BofA raised its price target to $275 from $235.
- The US Treasury proposed new rules to block American investments in AI and semiconductors for certain foreign countries.
- Morgan Stanley, Bank of America, JPMorgan and Wells Fargo detected unauthorized AI agents accessing customer accounts and trying to act without user instructions.
- Barclays $BCS plans to cut about 5,000 jobs this year as it pushes into AI and automation.
- China’s stock market officially entered a bear market.
- Kalshi traders see an 88% chance the Fed holds rates this month, while Turkey cut rates by 100 bps to 36%.
- Western Digital $WDC beat with $4.38B in revenue and guided Q2 revenue to $5.1B, up 69%, while Bloom Energy $BE grew revenue 138% and raised its full year guidance.
- Spotify $SPOT jumped 8% on 306M paying subscribers, while Lam Research $LRCX fell 10% despite beating earnings, and RingCentral $RNG surged about 12% after hours.
- Earnings today before the bell: $AXP and $SLB headline the slate.
📊 Altcoin Market Updates 📊
- $ETH is trading around $2,407, down about 1% in 24 hours.
- Circle minted 1.5B $USDC on Solana in the past 24 hours.
- SoFi $SOFI launched FDIC insured tokenized deposits.
- Franklin ETF clients bought $2.25M worth of $XRP.
- Uniswap’s aggregator hooks went live on Ethereum, Base and Robinhood Chain, with Fluid, Curve and PancakeSwap among the external liquidity sources at launch.
- Morpho now lets users borrow stablecoins against Robinhood stock tokens as collateral.
- Backpack’s securities issued $AMZN token goes live on Solana via Sunrise.
- NEAR Protocol launched Hyperliquid powered cross margin, letting positions share one perps balance as margin.
- Square Tech signed an MOU with GOAT Network to explore AI agent powered stablecoin payments in South Korea.
- Fomo says its crosschain swaps now land in under 1 second.
- Bubblemaps says the trader behind the viral $TRUMP win didn’t make $40M, tracing only $6M in profits.
- $MACCA surges on Robinhood Chain as traders speculate on GTA 6’s Macca the Gator mascot.
- In France, three masked men tied up a couple in their 60s at home at 3am, demanding crypto before fleeing with a laptop and phone.
If you enjoyed this daily roundup, make sure to follow me, I’ll see you tomorrow!
$BTC $SPY $QQQ $OIL $SMH
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Written by Timothy Assi, an Elite Popular Investor on eToro.
Not investment advice. eToro is a multi-asset investment platform. Your capital is at risk. For information and educational purposes only.
Copy Trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk.
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