Happy Thursday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- BlackRock ETF clients bought $166.29 million of Bitcoin.
- Fidelity ETF clients bought $143.24 million of Bitcoin.
- U.S. spot Bitcoin ETFs took in $714.7 million yesterday, and year-to-date net flows turned positive for the first time since April.
- The CFTC is using existing statutory authorities to establish a clear crypto asset market structure. Chair Mike Selig said it is go time and the agency is preparing for onchain systems, mass tokenization, 24/7 trading, and agentic finance.
- The U.S. Treasury plans to buy back up to $6 billion in longer-term debt.
- The Federal Reserve will enable cross-border transaction support through its FedNow instant payment system.
- U.S. diesel prices hit a record $6.53 per gallon, up 74% since the Iran war began. Officials are considering a 90-day ban on diesel exports to keep more supply at home, though Energy Secretary Chris Wright has rejected a full export ban.
- South Africa hiked rates 25 basis points to 7.25%, its second hike this year.
- Stocks sold off after hotter-than-expected PMI data pushed Treasury yields higher. Nasdaq fell 1.1% and the S&P 500 fell 0.8%, with Google down 3.4%, Broadcom down 2.6%, and Amazon down 2.3%.
- Palantir rose about 3% while the broader market traded lower. The FAA began deploying its AI-powered SMART system at major D.C.-area airports, and Chipotle is piloting Foundry for food safety.
- Roughly $443 million in long positions were liquidated across crypto in 24 hours, with more than 123,000 traders liquidated.
- Blockchain.com and NYSE are partnering to explore global 24/7/365 trading of tokenized securities.
- Nvidia CEO Jensen Huang said scientists should stop making AI doomer predictions, calling them hurtful and not scientific.
📊 Altcoin Market Updates 📊
- Bitwise and Franklin ETF clients bought a combined $18.04 million of XRP.
- The U.S. is considering a plan to promote dollar-backed crypto stablecoins worldwide.
- Ken surged more than 130% since launch after a Cate team member backed the project.
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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