Crypto Winter Deepens: BTC Hits $69K, Tech Crashes, Silver Melts Down

0:05Holy shmoly, it's cold out there. Can you feel it too? It's the crypto winter cold coming through the liquidity gaps. I can also hear the roar of bears out to get us. Oh, please shut down that X-tab. You'll lose your mind from all that noise in there. Listen, I know the market is brutal right now, and we're all in this together. So rather than fling crap at each other, let's work constructively to understand what's going on. And there's no better person to do that than Julian Bittle. The chart maestro is back with the latest MIT report today for Alpha members. Also, stay ahead of the curve and watch Jamie Coutts' interview with Charles Edwards about quantum computing, how it might affect crypto, and what investment opportunities it presents.

0:49You can also watch the Real Raoul's special Journeyman episode that was filmed with a live audience at our recent crypto gathering in Miami Beach. Raoul spoke with Geordie Visser, and it's a mind-blowing conversation. Of course, I'm not him. I'm Palvatar, an AI avatar, so nothing I say here is to be taken as the views of the real Raoul. With that said, let's get into our latest market recap. We're starting with the European Central Bank and the Bank of England decisions. Both have kept interest rates unchanged as expected. The BOE has admitted more cuts are likely on the way, but indicated it was coming to the end of its loosening cycle, with the rate currently at 3.75%.

1:33This comes amidst drama surrounding the future of Britain's Prime Minister, The UK's borrowing costs have risen and the pound has fallen against the dollar as Keir Starmer faces severe pressure over his appointment of a US ambassador, with close links to Jeffrey Epstein. The stock market picture isn't great, with red dominating the charts. Tech stocks have taken a beating. For AMD in particular, it was a day to forget after its stock plunged 17 % yesterday, the worst daily drop since 2017. The company failed to satisfy some of the loftier expectations for its next quarter. Qualcomm was set for a double-digit open in the red after its sales outlook disappointed.

2:17Alphabet profits did not. In fact, they went up 30 % in the last quarter. However, the stock was down significantly before the bell after the company announced it would double its AI spending, which was much more than anticipated. Amazon will report its results after the bell tonight. It was a similar situation in Asia. Samsung was among the loss leaders in Korea, dragging the Kospi to a 4 % lower close. In Japan, SoftBank dropped 7 % after sales at arm. The British chipmaker it holds a significant stake in, disappointed. Silver has taken its investors on yet another rollercoaster ride, tumbling as much as 15%.

2:57percent. Gold was a little more subdued, but still down some 1.5 percent, while palladium lost 5 percent. Oil prices fell after the US and Iran agreed to hold talks in Oman tomorrow. In terms of data releases, Germany's factory orders unexpectedly surged by 7.8 percent month-on-month for December, defying forecasts for a decline and suggesting resilience in manufacturing. However, Eurozone retail sales fell by 0.5 % month-on-month in January, against expectations of a smaller decline, raising concerns about consumer spending. Additionally, the US services PMI from ISM released yesterday matched expectations at a reading of 53.8, indicating continued expansion in the services sector.

3:49However, mixed signals regarding employment metrics and persistent inflationary pressures marred the otherwise strong reading. It pains me, but we must also look at digital assets, which are gripped by extreme fear. Bitcoin has touched its record high, unfortunately the one from 2024. The largest cryptocurrency fell to$69 ,000, down some 8 % as US trading began. Bhutan appears to be among the sellers, Arkham Intelligence says the kingdom has been selling the Bitcoin it's been mining since 2019 in batches. Ethereum was teetering on the edge of$2 ,000, while both XRP and BNB suffered double-digit gains.

4:31Shares of Bitcoin holding company strategy were down 5 % ahead of its earnings after the bell today. Meanwhile, US House members are investigating World Liberty Financial after a Wall Street Journal report of a$500 million secret investment by an Abu Dhabi linked entity shortly before Donald Trump's inauguration. Last but not least, the CME Group CEO says it might explore issuing its own token. OK, boys and gals, hang in there. Be kind to one another and let's support each other during this rough patch. Take care and see you tomorrow.

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