DISCUSSED IN TODAY'S VIDEO:THE BAD: Large incremental BTC demand failed to move price, with Strategy’s $1.2bn purchase largely absorbed near ~$92k, signaling persistent overhead supply and explaining recent choppy price action.THE GOOD: U.S. flows into crypto re-emerged today, with a strong Coinbase premium and premium-to-NAV expansion across digital asset treasury companies.MY VIEW ON POWELL’S STATEMENT: Powell’s response reasserted Fed independence rather than signaling a tighter policy bias, preserving a data-dependent reaction function and reducing the risk that future cuts are perceived as politically...

Good evening,  Stocks built on their advances from last year to rally to records in the new year, trudging higher despite rising geopolitical tensions with Venezuela and mixed jobs reports.  The S&P 500 rallied 1.6% to finish the week at fresh all-time highs of 6,966.28 points — up 1.8% for 2026. In a sign of the rally broadening, 10 out of 11 sectors participated in the gains, with only utilities closing in the red. The information technology sector barely finished...

DISCUSSED IN TODAY'S VIDEO:The administration’s directive for Fannie Mae and Freddie Mac to purchase $200B of MBS reinforces a highly stimulative policy stance, functionally resembling fiscal-driven QE despite no direct Fed involvement.Markets are focused on a potential Supreme Court ruling on Emergency Power Act tariffs, with consensus expectations skewed toward a strike-down and elevated near-term policy uncertainty.My base case is a short-term positive crypto market response if the tariffs are struck down, driven by temporary tariff relief and a subsequent...