*TRUMP: WALMART WILL DROP PRICE FOR GROUND BEEF BY ALMOST 15%
*TRUMP: OTHER RETAILERS SHOULD FOLLOW WALMART'S LEAD Source: zerohedge
BREAKING: Bitcoin reclaims $64,000 after the White House confirms the U.S. strategic Bitcoin reserve, and Trump says he is a "Big Fan of Crypto."
$360 million in short positions were liquidated today. Source: Bull Theory
🚨 BREAKING: The US is officially building its Strategic Bitcoin Reserve.*
The White House confirmed it is now putting the legal and operational framework in place to formally manage the reserve. The US already holds 328,372 Bitcoin worth roughly $25 billion—about 1.56% of Bitcoin's circulating supply—making it the world's largest known government holder. What's remarkable? None of it was purchased. Every Bitcoin was seized through criminal and civil asset forfeitures, and the government has pledged not to sell a single coin. Meanwhile, a separate Digital Asset Stockpile will hold seized cryptocurrencies such as Ethereum and XRP. The bigger story is what comes next. Congress is considering the American Reserves Modernization Act, which would authorize the Treasury to acquire 1 million Bitcoin over five years with a minimum 20-year holding period. If approved, it would mark the first time a nation actively accumulates Bitcoin as a strategic reserve asset. Source: Bull Theory on X
BREAKING: Korea Exchange briefly halted program selling as KOSPI crashed -5.7%.
Samsung and SK Hynix, which together make up 50% of the index, fell -6% and -4.5%. Source: Bull Theory
🚨 Samsung just delivered a reality check for the AI trade.
Its quarterly operating profit surged, powered by booming AI memory demand and higher DRAM prices. Analysts still expect memory shortages to persist through 2027. Yet the stock fell. Why? Because in today's market, good isn't good enough when perfection is already priced in. This marks an important shift. The first phase of the AI boom was driven by the obvious bottlenecks: semiconductors, memory, and AI infrastructure. Capital poured into the same names. Nvidia led. The semiconductor index soared. Now those trades are crowded. The fundamentals remain strong, but investors are asking a different question: Can earnings keep exceeding already sky-high expectations? AI isn't over. But the easy money from owning the obvious AI winners may be. Source: Bloomberg, James E. Thorne @DrJStrategy
The Dow crossed above 53,000 yesterday for the first time, its 5th 1,000-point milestone of the year.
Source: Charlie Bilello
Bitcoin ETFs bled -$4.1 billion in June, the largest monthly outflow in history
Source: Barchart, Bloomberg
Saudi Arabia cut the price of its main crude grade for Asian customers, effective August, amid weakening demand and easing tensions.
It's the largest reduction in over two decades. The sharp price cut comes as pressure grows on the world's largest crude exporter, as softer demand in Asia coincides with improving supply conditions following the easing of geopolitical tensions in the Middle East.Source: The Times Of India
