This morning, BTC briefly broke through $82,000, with a 24-hour gain of over 6%. The global crypto market cap rose to nearly $2.82 trillion, hitting a seven-month high.
The Dow is up 1.18%, the S&P 500 is up 1.06%, and the Nasdaq is up 1.4% to lead the way.
Tesla is up 5.4%, SpaceX is up 6.4%, and Nvidia is up 1.8%.
Crypto-related stocks erupted across the board—Strategy is up more than 17%, Circle is up more than 16%, and Coinbase is up more than 10%.
What exactly happened?
Three men who originally had different agendas unexpectedly teamed up last night.
The first person: Trump.
He addressed the crowd at the White House: “Believe it or not, the stock market will go up.”
At the same time, it cools things down in the Middle East—saying a new round of military action against Iran won’t “last too long.”
He handles oil prices and geopolitics.
If the Iran conflict escalates, oil prices will head for $95. As oil rises, inflation expectations skyrocket, rate-hike expectations follow, and the stock market crashes.
With just one sentence, Trump slammed the lid on the war: oil-price expectations cooled, and the market let out a breath of relief.
The second person: Bessent.
The US Treasury Secretary said directly: “Overall, prices are falling back, and core inflation is well under control.”
And he even added a line: trade tensions between the US and Canada have “almost no impact” on US prices.
He handles confidence in US Treasuries and inflation expectations.
What the market fears is runaway inflation → Treasuries being dumped → rates surging. With Bessent saying “inflation is under control,” the 10-year US Treasury yield was pushed back down directly.
The third person: Waller.
This person is the most interesting.
Back then, he was a “hawk” inside the Fed, always talking about rate hikes every day. But last night, he suddenly changed his tune.
He said, “If the next two weeks of data continues to show inflation cooling, I lean toward supporting keeping rates unchanged in September.”
He even quoted a John Lennon line—“Give inflation a chance to slow down.”
After Waller’s remarks, the CME Fedwatch tool showed the probability of a September rate hike crashing from 63% straight down to 48%.
The three people—each has an extremely clear division of labor—
Trump manages oil prices and geopolitics, Bessent manages inflation expectations, and Waller manages rate-hike expectations.
Three fish swim each in its own direction.
But US stocks are their shared 'two balls'.
Untouchable—squeeze it and it’s still no good. If it hurts, you have to save it.
The fight is still ongoing. The Iranian Revolutionary Guards said they killed “multiple US servicemen.” Trump, on one hand, threatens to strike again at any time, and on the other, sends messages to the world saying, “The war will be ending soon.”
Why send the message? Because if US Treasury yields keep spiking, US stocks will be getting a funeral.
After this “pointing-at-the-immortal” combo is done—
BTC surged from 77,000 to 82,000.
The total market value of cryptocurrencies hit $2.82 trillion.
Gold surged through $4,500 during the trading day.
This isn’t a technical breakout—this is a policy-level, “in plain sight” market rescue.
But there’s one detail—
QCP Capital’s analysis says this round of gains mainly came from short-covering, not from a renewed increase in leveraged funds.
Translate it into plain human:
It’s up, sure—but retail investors still don’t dare to use leverage to chase it.
Is this really the “starting point of a bull market,” or just a one-off policy impulse at the floor?
The CPI data for September 11 will give the answer.
Waller himself said—if the August inflation data comes in higher than expected, “I’ll consider raising rates.”
By then, can the three powerhouses still come to the rescue one more time?