The four horsemen of the apocalypse are riding roughshod over Bitcoin… and the no-coiners are cheering. I’ll break down the FUD, separate facts from fiction, and explain what set all this off.

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Links:

• Japan’s stock market, the Nikkei 225, is currently set to post its largest 2-day drop in history. (https://x.com/KobeissiLetter/status/1820281834300699060)

• The Bank of Japan (BoJ) is caught between tightening monetary policies, risking a collapse of the carry trade, or maintaining low rates, which threatens financial stability. (https://x.com/MarioNawfal/status/1820260286349406247)

• Magnificent Seven set to shed $1 trillion in value, led by Apple, Nvidia (https://www.msn.com/en-gb/money/other/magnificent-seven-set-to-shed-1-trillion-in-value-led-by-apple-nvidia/ar-AA1og2MG)

• Treasuries Surge as Traders Bet on Emergency Fed Rate Cut (https://finance.yahoo.com/news/bond-traders-bet-big-fed-190000721.html)

• Schwab, Fidelity resolve temporary disruptions on frenetic trading day (https://finance.yahoo.com/news/online-trading-platforms-down-thousands-135815367.html)

• Are Banks Sweeping Dud Property Loans Under the Rug? - WSJ (https://www.wsj.com/finance/are-banks-sweeping-dud-property-loans-under-the-rug-61fd7029)

• Biden’s Treasury accused of trying to juice U.S. economy pre-election (https://www.axios.com/2024/08/05/biden-treasury-economy-spending-election)

• Schwab, Fidelity resolve temporary disruptions on frenetic trading day (https://finance.yahoo.com/news/online-trading-platforms-down-thousands-135815367.html)

• The Japanese Yen has retraced an entire year’s worth of price action in just 26 days. (https://x.com/stackhodler/status/1820392821745983996)

• Dow tumbles 1,000 points, S&P 500 posts worst day since 2022 (https://www.cnbc.com/2024/08/04/stock-market-today-live-updates.html)

• Wharton’s Jeremy Siegel says Fed needs to make an emergency rate cut (https://www.cnbc.com/2024/08/05/whartons-jeremy-siegel-says-fed-needs-to-make-an-emergency-rate-cut.html)

• Carry trades: A major unwinding is underway amid a stock sell-off (https://www.cnbc.com/2024/08/05/carry-trades-a-major-unwinding-is-underway-amid-a-stock-sell-off.html)

• The Reason Behind Bitcoin’s Price Crash: Arthur Hayes Speculates (https://cryptopotato.com/the-reason-behind-bitcoins-price-crash-arthur-hayes-speculates/)

• Bitcoin Crash Wipes Out 18% Of Profitable Investors In 24 Hours - BitcoinWorld (https://bitcoinworld.co.in/bitcoin-crash-wipes-out-18-of-profitable-investors-in-24-hours/)

• Bitcoin Falls Below $53K, Wiping Out $600M in Leveraged Longs - Co… (https://coinchapter.com/bitcoin-falls-below-53k-wiping-out-600m-in-leveraged-longs/) *