Yesterday, three earnings report cards came in. Two were handed in last night, and the faster-growing company was the one that got hammered. Google Cloud more than doubled, surging 103% to $30.7 billion, while Microsoft Azure grew just 48% to $33.2 billion. Yet after hours, Microsoft rose about 4% and Google fell about 10%. Put simply, the grading criteria have changed: it’s not about how fast you grow, but how much you have left in your pocket after all the spending. Microsoft spent $45.2 billion and still had $18.6 billion in free cash flow. Google spent $51.4 billion, and its free cash flow plunged to negative $9.1 billion—it’s burning cash faster than it earns it, and the market turned on it immediately.
$BTC surged with U.S. stocks last night to 81,823, then got doused with cold water and fell back to 79,710. Now it’s hovering around 80,444. $ETH is back around 2,300. The AI narrative isn’t dead, but the market is only backing AI that can make money. Those burning cash and selling a story are taking the hit first. Tonight at 20:30, we have two more report cards: GDP and PCE. The probability of a December rate hike has climbed to 86%, and the 10-year Treasury yield is back above 5%. Just my personal opinion, for reference only.
#FOMCWatch #USQ3GDPAndSeptemberPCEDueNextWeek
Once tonight’s data is out, which way are you betting: will Bitcoin reclaim 81,800 first, or will it test the 79,700 bottom first? Pick a side in the comments.
$BTC surged with U.S. stocks last night to 81,823, then got doused with cold water and fell back to 79,710. Now it’s hovering around 80,444. $ETH is back around 2,300. The AI narrative isn’t dead, but the market is only backing AI that can make money. Those burning cash and selling a story are taking the hit first. Tonight at 20:30, we have two more report cards: GDP and PCE. The probability of a December rate hike has climbed to 86%, and the 10-year Treasury yield is back above 5%. Just my personal opinion, for reference only.
#FOMCWatch #USQ3GDPAndSeptemberPCEDueNextWeek
Once tonight’s data is out, which way are you betting: will Bitcoin reclaim 81,800 first, or will it test the 79,700 bottom first? Pick a side in the comments.
