What's on your mind?
Not all bad news, at least the 10y yield dropped.
With macro data this weak, BTC still held above 80k; I feel this pullback is nearing its end. ETH had high long leverage before and pulled back more, but its rebound should be stronger when it comes.
mNAV hit a low of 0.87; BMNR may restart buybacks this week. Will see how to update next Monday.
$BMNR 2X Short ETF(BMNZ.US) took some profit with sl to entry, move on to the next.
$BitMine Immersion Tech(BMNR.US) Tom Lee, in his speech at yesterday's Token2049 forum, stated that the 5% coin accumulation target is about to be met, after which they will pause and stop buying, meaning no further dilution from financing.
Next, cash and staking yields will primarily be used for three things:
1. Share repurchase
2. Expanding the scale of MAVAN
3. New ETH ecosystem investments, potentially data centers, such as transitioning mining equipment from the original mining business
$BMNR 2X Short ETF(BMNZ.US) will hold this till 28 oct
$Grayscale Bitcoin Mini Trust ETF(BTC.US)
Bitcoin $85K for the first time since January, hard to remember it has been that long while the asset has been depressed all year...but makes it more of a coiled spring now if this is the breakout. This comeback is pretty impressive given rate hikes and where bond yields trade at. For those that believe in cycles, Bitcoin is coming up on the typical September/October bottom that has been discussed all year if price action continues to gain momentum. Also moving on from the Clarity Act not getting passed.Helps $Robinhood(HOOD.US) $Coinbase(COIN.US) $Strategy(MSTR.US) $BitMine Immersion Tech(BMNR.US) and all the other crypto derivative names as those names are close to 52-week highs in the premarket.Source: amit
I am very disappointed with the Crypto Clarity Act outcome. I expect good news and…..the outcome is so disappointing. I do not understand why the senators blocked disagrees with the act.
Failed the 60-vote threshold 49–50 early this morning. It is ready a “Big setback” for US crypto rules.🥹🥹 no chance for BTC to reclaim 100k again by year end.😞
At 2am tomorrow, markets get the moment they've been building toward all week: the Fed's rate decision. Ahead of it, a 20-year Treasury auction just set a record yield of 5.42%, breaking the 2023 high...
Many investors are tracking the odds shifts for the Clarity Act on Polymarket, which have swung from 15% to 30% and back down to 19% over the past two days, reflecting a tense tug-of-war between the two parties.
It's important to note that the 19% or 30% odds on Polymarket specifically refer to the likelihood of the bill being enacted by 2026. The Sept. 15 vote merely determines whether the bill enters the Senate review agenda. With midterm elections this year and the House adjourning early in late September, even if the Sept. 15 vote passes, the window for subsequent legislative action remains tight, keeping Polymarket odds low.
The current focus is on the Sept. 15 vote itself. I believe the probability of passage here is far higher than the 19% implied by Polymarket. A likely outcome is a bipartisan compromise: passing the vote to uphold procedural norms while continuing to haggle during later legislative stages. This means significant hurdles remain for 2026 enactment—so the 19% figure might still be accurate—but it doesn't change the fact that the Sept. 15 vote has a ~40–50% chance of passing.
$Strategy(MSTR.US)$Coinbase(COIN.US)$Circle(CRCL.US)
$BitMine Immersion Tech(BMNR.US)
ETH has been doing pretty well recently; it's resilient to negative news and surges on positive ones, slowly recovering. $IShares Ethereum Trust ETF(ETHA.US)
$BitMine Immersion Tech(BMNR.US)
Just a hedge. 😅
