We 7/10 | Daily Crypto & Macro News

Happy Wednesday all! If you missed the past 24 hours in crypto and stocks, here's your full recap: 🚨 Major Headlines & Market Moves 🚨 \- Bitcoin fell under $84,000 as about $479 million in long positions were liquidated over the past 24 hours, with 104,836 crypto traders wiped out. \- BlackRock ETF clients bought $122 million worth of Bitcoin. \- The CFTC said it will provide a federally regulated path for crypto. Chairman Mike Selig told CNBC he is disappointed in Congress, but the agency has statutory authority and intends to use it. \- Kalshi launched the first stock-index perpetual future in America, tied to the US 500. Single-stock perps on Nvidia, Meta and Amazon are planned later this year. \- South Africa’s First National Bank opened crypto trading to nearly 9 million clients, covering Bitcoin, Ethereum, Solana, XRP and USDT. \- The S&P 500 closed above 7,800 for the first time, its 28th record of the year. \- Ray Dalio said the AI bubble may burst soon. \- Elon Musk’s net worth officially passed $1.1 trillion. \- The US goods trade deficit jumped 13.7% to $105.6 billion, a 17-month high. Over the last 20 months the goods deficit was $2.06 trillion, about 8% wider than the prior 20 months, despite tariffs. \- South Korea stocks are up 97% in 2026 and Taiwan stocks are up 86%, while China stocks are down 12%. \- Micron’s net income has surged 42x in two years to $38 billion, about $8 billion more than Apple earned last quarter, as chip supply stays tight. Seagate fell about 9% and Western Digital about 7% as the two battle Toshiba for TDK’s HDD magnetic-head business. \- Marvell rose about 5% after targeting $20 billion in fiscal 2028 revenue, above the roughly $18.2 billion Wall Street expected, driven by custom AI chips and data-center connectivity. \- Bitwise CIO Matt Hougan published “Bitcoin Is Right on Schedule” in The Wall Street Journal. Bitcoin is also in its most shallow cycle since the prior halving. \- A former UBS Asia investment-banking head said China will eventually reopen access to crypto and could trigger a new supercycle. \- The top 0.1% of US households now own 15% of all household wealth, a record, while the bottom 50% own 2%. 📊 Altcoin Market Updates 📊 \- Ethereum fell under $2,600 during the same long liquidation wave. \- Bitwise ETF clients bought $10.55 million worth of XRP. \- Ripple’s RLUSD stablecoin passed a $2.5 billion market cap. \- Circle’s USDC bridge now supports Solana, so USDC can move directly between Solana and 18 other ecosystems. \- JPMorgan is helping Solana build a system that lets financial institutions settle trades onchain in seconds. \- Ripple Prime will provide multi-asset prime brokerage, clearing and financing to Brevan Howard. \- Ethereum layer-2 AbstractChain is shutting down. \- OKX raised at a $25 billion valuation from Standard Chartered and Circle, extending a round from March. \- Coinbase is listing PONS. \- Moonshot expanded onto Robinhood Chain, and Gomo v2 went live with Robinhood Chain added to its trading terminal. \- Mysten Labs and Google Cloud launched Verifiable Agent Arbiter, anchoring AI agent proofs on Sui and Walrus for enterprise compliance. \- Sunrise enabled VVV, the AskVenice token, on Solana, with pairs now supported on Raydium, Pump.fun and LaunchOnSF. If you enjoyed this daily roundup, make sure to follow me, I’ll see you tomorrow! $BTC $SPY $QQQ $OIL $SMH Looking to profit from altcoins? Here’s a FREE 5-day email course!Get instant access here:https://panicdrop.kit.com/5dayaltcoincourseAvoid the mistakes killing 97% of traders.Master the charts & time your entries using Bitcoin’s signals. *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* *📧 timothy@panicdrop.com* 🟩 *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