Fox News says passing major laws like the Clarity Act just before US midterms is extremely rare.

💩 LAPTOP -99%

Overall, this was to be expected: everyone who bought at the launch (except for a couple of scalpers) is now in the red.

Forget about trying to “buy the dip”—the upside is just going to keep falling and falling.

Because they came up with a sneaky loophole with their Substack subscription, handed out billions in airdrops to themselves, and are pumping it nonstop.

On the bright side, this hasn’t affected liquidity in the crypto market at all. No one has rushed en masse to dump their altcoins and stablecoins into this rag, as happened with TRUMP. It’s just another pump-and-dump on the market.

The U.S. Treasury will buy back up to $6B in long-dated bonds on Sept. 10

❗️U.S. Macro — PPI

MoM = +0.4% (expected +0.3% / previous +0%)
YoY = +5.4% (expected +5.1% / previous +4.7%)

Core PPI

MoM = +0.2% (expected +0.2% / previous +0.2%)
YoY = +4.6% (expected +4.5% / previous +4.2%)

In addition, yields on 2-year Treasuries jumped to 4.47%—the highest level since July 2024.

🩸The reaction is as expected—BTC < $77k

Is the 2020 bull market pattern repeating itself?

The market has entered a correction phase for now, especially on-chain—this is clearly evident from the many memes and the outflow of liquidity from them.

And let’s not forget that inflation data is coming out today and again tomorrow, so volatility should be high.

And here’s another interesting piece of news that brings back vibes from the COVID year, when the U.S. distributed about $1 trillion in aid to people.

Trump has promised to pay every adult American $5,000 if Republicans retain control of the House of Representatives and the Senate after the election.

If you do the math, that would mean handing out even a little more than during the COVID year—around $1.2–1.35 trillion.

And we think everyone remembers where people put some of that cash in 2020.

But this is Trump: today he says one thing, tomorrow another. Moreover, it’s still unclear exactly how this will be implemented and where the money will come from.

But the fact itself and the news are interesting.

📊Bitcoin’s key level is $72,000–$73,000, per CryptoQuant.

Holding above it could signal institutional reaccumulation, while a breakdown would weaken the trend.

❗️U.S. Macro — CPI

MoM = +0.4% (expected +0.4% / prior +0.1%)
YoY = +3.4% (expected +3.4% / prior +3.4%)

Core CPI

MoM = +0.3% (expected +0.2% / previous +0.2%)
YoY = +2.4% (expected +2.4% / previous +2.5%)