🔥🔥🔥 BTC Breaks Above $75K, Gold Hits $4,500 – U.S. Stocks End in the Red

💰 Bitcoin surged by more than $10K (around 17%) in just two days, breaking above $75K.
💰 Gold climbed above $4,500.
📉 U.S. stocks closed the session in the red.

Crypto and gold are clearly benefiting from recent liquidity and policy signals, while traditional equities remain under pressure.

@BackcomGlobal

🔥 U.S. Treasury Secretary to Hold Press Conference on August 24

🏙 Scott Bessent is expected to announce the toughest sanctions package in history targeting Iran.
🟣 This marks the next step in Washington’s strategy to intensify economic pressure.
🟣 The U.S. is maintaining its naval blockade and has ended negotiations.

🇮🇷 Economic pressure on Iran is being raised to an unprecedented level.

@BackcomGlobal

🔥🔥🔥 CFTC Begins Building Its Own Crypto Regulatory Framework

🟢 CFTC Chair Michael Selig said he has directed agency staff to begin developing a crypto regulatory framework.
🟢 The CFTC will use its existing authority, without waiting for Congress to act.
🟢 Goal: To prepare for the possibility that the CLARITY Act remains stalled in the Senate.

🇺🇸 The CFTC is taking the initiative instead of waiting for CLARITY — a positive signal for the U.S. crypto market. 🪙

@BackcomGlobal

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🔥🔥🔥 Japanese Yen Stays Flat Despite Rising Inflation

💴 The Japanese yen was little changed following Japan’s July CPI report.
🟣 Inflation edged higher from the previous month, supporting expectations that the BoJ may raise interest rates.
🟣 However, the market remained cautious and has yet to push the yen meaningfully higher.

🇯🇵 Inflation supports the BoJ, but the yen still hasn’t “woken up.”

@BackcomGlobal

Bessent “Doesn’t Understand” Why Oil Prices Are Surging

🏙 U.S. Treasury Secretary Scott Bessent admitted:
“We’re seeing oil prices surge, and I really don’t understand why.”
🟣 He described the price movement over the past 24 hours as “noise.”
🟣 Meanwhile, markets are reacting to escalating tensions around the Strait of Hormuz and the increasingly aggressive sanctions strategy against Iran.

When even the head of the U.S. Treasury says he “doesn’t understand,” uncertainty in the oil market only grows further. 😄😄😄

@BackcomGlobal

📈 Green Weekend: BTC $78K – Gold $4,600

💰 Bitcoin is holding firmly in the $77K–$78K range.
💰 Gold has surpassed $4,600.
📈 U.S. stocks are slightly in the green heading into the weekend.

✅ A wave of altcoins is gaining momentum:
🖤 $BCH +32%, $ZEC +29%, $AAVE +24%
🖤 Memecoins: $PEPE +28%, $SHIB +23%, $TRUMP +18%

➡️ The market is “flying” into the weekend as capital inflows and positive sentiment continue to spread.

@BackcomGlobal

🔥🔥🔥 Iran and China Both “Say No” to U.S. Sanctions

🇺🇸 The U.S. is preparing to announce the strongest sanctions package in history targeting Iran.
🇮🇷 Iran has strongly voiced its opposition.
🇨🇳 China has also opposed the move, saying sanctions will not solve the problem and calling for dialogue.

With both Iran and China pushing back, the economic battle surrounding the Strait of Hormuz is becoming even more complicated. 😄😄😄

@BackcomGlobal

🇺🇸 63% of Americans: Trump’s Crypto Profits Have “Crossed the Line”

🟣 A Reuters/Ipsos poll shows that 63% of Americans believe the Trump family’s cryptocurrency profits are inappropriate.
🟣 Around half of Republicans also say his business interests are influencing policy decisions.
🟣 The results reflect growing concerns over potential conflicts of interest.

Even within his own party, Trump is facing major questions about the line between politics and the crypto business. 👍

@BackcomGlobal

Asian Currencies Head for Weekly Gains – USD Near 3-Month Low

🔴 The USD continues to weaken, hovering near its lowest level in 3 months.
👉 Despite the U.S. Treasury increasing buybacks of long-term bonds, concerns over U.S. public debt continue to dominate, pushing yields higher again and putting pressure on the greenback.
⚡️ Asian and European currencies are benefiting:
🖤 The South Korean won is rising strongly.
🖤 The Japanese yen and several other currencies are also performing positively.
🖤 The Indian rupee remains under pressure due to high energy costs.

📈 The market is seeing a week of gains for many Asian currencies thanks to a weaker USD.

@BackcomGlobal

🇺🇸 U.S. Yields Rebound – Services PMI Beats Forecast

🟣 U.S. Services PMI for August jumped to 56.8, well above the 54 forecast.
🟣 U.S. Treasury yields rebounded across the curve: 2Y rose to 4.24%, 10Y to 4.474%, and 30Y to 5.276%.
🟣 The U.S. Treasury increased long-term bond buybacks from $2B to $4B, but the move was still not enough to push yields lower.

➡️ Strong U.S. economic data is making markets more cautious about the outlook for Fed interest rates.

@BackcomGlobal