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Fr 6/2 | Daily Crypto & Macro News
Happy Friday all! If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- Bitcoin crashed below $61,000. Now trades back above $65,000.
- Over $2.2 billion worth of crypto longs were liquidated in the past 24 hours.
- MicroStrategy's Bitcoin holdings posted over $6 billion in unrealized losses in a single day.
- J.P. Morgan said Bitcoin is now even more attractive than gold on a long-term basis.
- BlackRock's spot Bitcoin ETF hit a record $10 billion in daily trading volume.
- U.S. Treasury Secretary Bessent called for Congress to pass crypto market structure legislation.
- MicroStrategy announced a new Bitcoin security program to address quantum threats.
- Bitcoin is now down 51 percent from its October peak — its largest drawdown since 2022.
- Deutsche Bank described the Bitcoin selloff as a loss of conviction, not a broken market.
- The S&P 500 fell 1.2 percent today, with many major assets still well below all-time highs.
- S&P 500 fourth-quarter operating earnings are tracking 17 percent higher year-over-year.
- U.S. producer prices have risen 4.8 percent per year over the last five years.
📊 Altcoin Market Updates 📊
- Solana fell below $70 for the first time since 2023.
- McDonald's market capitalization now exceeds Ethereum's.
- Tom Lee's Bitmine Immersion is down more than $8 billion on its Ethereum holdings.
- Tether made a $150 million strategic investment in gold.com to expand tokenized gold access.
- Coinbase will list HYPE for spot trading later today if liquidity conditions are met.
- HYPE token hit a new all-time high against Bitcoin.
If you enjoyed this daily roundup, make sure to follow me – I'll see you tomorrow.
Credit to the following X accounts for key insights & updates: @whaleinsider @bitcoinmagazine @watcherguru @degeneratenews @charliebilello @economyapp @earnings_time
$BTC $ETH $GOLD $SILVER $SPY
PS… Want the complete shortcut to trading altcoins with precision (without wasting months on trial-and-error)?
Click here to grab the Altcoin Profit Toolkit — 8 structured modules + 3 indicators including the Smart Exit Decoder that shows overbought conditions on multiple timeframes, helping you scan, enter, and exit trades like a pro trader.
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.
Connect with me on:
🟦 Linkedin: Timothy Assi
🟪 Instagram: @panic_drop
⬛ X: @timoassi
🟩 Panic Drop Podcast : on your favorite streaming app
www.panicdrop.com
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit panicdrop.substack.com/subscribe
View all episodes
By Panic Drop - Timothy AssiHappy Friday all! If you missed the past 24 hours in crypto and stocks, here's your full recap:
🚨 Major Headlines & Market Moves 🚨
- Bitcoin crashed below $61,000. Now trades back above $65,000.
- Over $2.2 billion worth of crypto longs were liquidated in the past 24 hours.
- MicroStrategy's Bitcoin holdings posted over $6 billion in unrealized losses in a single day.
- J.P. Morgan said Bitcoin is now even more attractive than gold on a long-term basis.
- BlackRock's spot Bitcoin ETF hit a record $10 billion in daily trading volume.
- U.S. Treasury Secretary Bessent called for Congress to pass crypto market structure legislation.
- MicroStrategy announced a new Bitcoin security program to address quantum threats.
- Bitcoin is now down 51 percent from its October peak — its largest drawdown since 2022.
- Deutsche Bank described the Bitcoin selloff as a loss of conviction, not a broken market.
- The S&P 500 fell 1.2 percent today, with many major assets still well below all-time highs.
- S&P 500 fourth-quarter operating earnings are tracking 17 percent higher year-over-year.
- U.S. producer prices have risen 4.8 percent per year over the last five years.
📊 Altcoin Market Updates 📊
- Solana fell below $70 for the first time since 2023.
- McDonald's market capitalization now exceeds Ethereum's.
- Tom Lee's Bitmine Immersion is down more than $8 billion on its Ethereum holdings.
- Tether made a $150 million strategic investment in gold.com to expand tokenized gold access.
- Coinbase will list HYPE for spot trading later today if liquidity conditions are met.
- HYPE token hit a new all-time high against Bitcoin.
If you enjoyed this daily roundup, make sure to follow me – I'll see you tomorrow.
Credit to the following X accounts for key insights & updates: @whaleinsider @bitcoinmagazine @watcherguru @degeneratenews @charliebilello @economyapp @earnings_time
$BTC $ETH $GOLD $SILVER $SPY
PS… Want the complete shortcut to trading altcoins with precision (without wasting months on trial-and-error)?
Click here to grab the Altcoin Profit Toolkit — 8 structured modules + 3 indicators including the Smart Exit Decoder that shows overbought conditions on multiple timeframes, helping you scan, enter, and exit trades like a pro trader.
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.
Connect with me on:
🟦 Linkedin: Timothy Assi
🟪 Instagram: @panic_drop
⬛ X: @timoassi
🟩 Panic Drop Podcast : on your favorite streaming app
www.panicdrop.com
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit panicdrop.substack.com/subscribe