Happy Tuesday all!
If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- Bitcoin briefly surges to $81,000, with $225,000,000 in shorts liquidated from the crypto market in just 10 minutes.
- Michael Saylor’s Strategy now holds a $4,000,000,000 unrealized profit on its Bitcoin investment.
- Bitcoin is having its 3rd best August ever, currently up 25% this month.
- Bitcoin ETF assets climbed 25.4% to $96.1 billion from $76.6 billion last week.
- There’s now a 53% chance Bitcoin will be above $82,500 this month, according to Polymarket.
- Webull CEO tells CNBC the increased purchase operations with treasuries sparked a nice rally in Bitcoin, with almost a 300% increase in buy side orders for Bitcoin and ETH.
- Fox Business says Bitcoin may be a hedge to dollar weakness.
- Canada to officially announce retaliatory tariffs against the US tomorrow.
- US Treasury Secretary Bessent says he expects a major financial institution to be sanctioned this week.
- US to impose additional 7.5% tariff on Chinese goods, Bloomberg reports.
- Citadel warns the Treasury’s expanded bond buybacks could weaken the US dollar and increase inflation.
- Trump administration proposes regulation to impose more than $100,000 fee on new H-1B worker visas.
- Ontario Premier Doug Ford threatens to cut off electricity and critical minerals to the US if the trade war with Canada worsens.
- President Trump raises tariffs on all Canadian cars, trucks, auto parts, and steel to 50% starting 2027.
- US Treasury Secretary Bessent says the US will block every potential revenue source for IRGC.
- US Treasury Secretary Bessent to give final warning to cut economic ties with Iran and unveil Iran secondary sanctions details.
- SEC subpoenas major Wall Street banks for information on trades and leverage tied to AI-focused hedge fund Situational Awareness.
- 60% chance of next Fed rate hike before 2027, per Kalshi traders.
- US gas prices climb to $4.10 per gallon this week, the highest level ever for this point in August.
- US national debt has moved from $19 trillion to $40 trillion over the past 10 years, a 106% increase.
- PDD Holdings reports Q2 results with revenue of $16.6B (+8% YoY) and adjusted EPS of $2.85, as the company prioritizes long-term platform growth.
📊 Altcoin Market Updates 📊
- Solana surpasses $100.
- $Pigeon on Solana rallies over 75% in the past 6 hours as bullish momentum continues.
- Coinbase tokenized stocks go live on Base.
- Fomo daily revenue hits a new all-time high and captures 46% of daily Solana trading platform spot volume.
- Pumpfun weekly revenue hits its highest level since the end of January.
- Solana Foundation’s Vibhu says he will laugh at people who claim Solana is just for memecoins, noting memecoins generate the vast majority of crypto revenue as the best mainstream use case.
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.
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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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