Happy Monday all. If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
→ Tariffs were pitched as the fix for America’s trade deficit, but it's up 31% YoY to a record high.
→ The bond market is now pricing in 3 rate cuts by year-end and 3 more in 2026, bringing the Fed Funds Rate down to 2.83%.
→ The US Unemployment Rate is now 0.9% above the cycle low, and historically a recession has started on average 3 months before that move.
→ The US Unemployment Rate moved up to 4.3% in August, the highest level since October 2021, with the market now pricing in a 100% probability of Fed rate cut on September 17.
→ The S&P 500 hit its 21st all-time high of the year last week, following 57 all-time highs in 2024, the 5th most of any year in history.
→ El Salvador adopted Bitcoin as legal tender 4 years ago.
→ President of El Salvador Nayib Bukele says he’s buying 21 BTC for ‘Bitcoin Day’.
→ Michael Saylor hints at buying more Bitcoin with "Needs More Orange".
→ China’s central bank extends gold buying spree to 10 consecutive months as it tries to rely less on U.S dollars in its reserve.
📊 Altcoin Market Updates 📊
→ David Schwartz, CTO of Ripple, changes X pfp to $PHNIX NFT.
→ USDT issuer Tether says they did not sell Bitcoin for Gold, "We buy and hold both."
→ $BRICK price jumps 700% within hours of launch, 24H DEX volume hits $2.6M.
→ Nick van Eck proposes Agora stablecoin infrastructure to power USDH with a coalition of best-in-class providers.
→ Fidelity launches tokenised U.S. Treasuries fund on Ethereum.
→ Applications on ETH now host $330,000,000,000 in user assets.
→ Tether Gold $XAUT surpasses $1,300,000,000 market cap, enters crypto top 100.
→ AXIOM flips HYPERLIQUID in 24H revenue.
→ $XVM price rallies 120% in the past 24 hours, hits $4.9M in 24H DEX volume.
If you enjoyed this daily roundup, make sure to follow me – I'll see you tomorrow.
$BTC $ETH $SOL $XRP $GOLD
Thanks for reading
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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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