Happy Monday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- Bitcoin trades back below $86,000.
- Michael Saylor hinted at another Bitcoin announcement, saying the company is "more orange than ever."
- Strive's chief executive hinted at buying more Bitcoin, pointing to an "amplified Bitcoin" plan.
- The U.S. and China announced tariff cuts covering $30 billion of goods on each side, led by U.S. consumer imports and Chinese agricultural products.
- Iran said the Strait of Hormuz will stay closed until the U.S. meets seven conditions from the June Islamabad agreement.
- The 10-year Treasury yield hit a 24-year high of 5.3%, while the S&P 500 dividend yield fell to an all-time low of 1.07%.
- The ratio of technology stocks to the S&P 500 reached a record high. Nine of the ten largest U.S. companies are now in tech, versus six oil and energy names in 1980.
- 60% of S&P 500 stocks now carry a Buy rating from Wall Street, the highest share on record.
- OKX filed with the SEC to launch tokenized U.S. stock trading.
- President Trump announced a Super Intelligence Force. Elon Musk also said SpaceXAI will be renamed SpaceXSI, calling SpaceX a super intelligence company.
- This week's earnings slate includes Constellation Brands on Tuesday, Levi Strauss on Wednesday, Penguin Solutions, and Delta Air Lines on Friday. Focus points are beer pricing versus wine weakness, direct-to-consumer growth, AI infrastructure demand, and fuel pressure on airline margins.
📊 Altcoin Market Updates 📊
- BNB briefly moved back above $800.
- Pump.fun overtook Hyperliquid in 30-day revenue.
- Polymarket's chief executive teased an announcement around Token2049.
- Sunrise opened access to Shib on Solana, with LaunchOnSF and Pump.fun now supporting Shib pairs.
- A Solana Foundation lead said Robinhood's chain should drop Arbitrum, arguing layer-2s cannot scale on performance or fees and would be better off as a new high-performance chain or on Solana.
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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