Crypto World
Bitcoin, Ethereum Outperform Markets in July as Chip Stocks Plunge 22%
Bitcoin (BTC) and Ethereum (ETH) look set to finish July ahead of most major asset classes, with the former adding over 7% and the latter gaining almost 20% in the last 30 days.
The performance adds to a month of recovery for the two largest cryptocurrencies after a difficult first half of 2026, although historical data suggests August has been a much tougher month for BTC.
Bitcoin and Ethereum Lead July Returns
Data from CoinGlass at the time of writing showed that Ethereum had gained 19.5% during the month while Bitcoin had risen 7.37%. Meanwhile, a comparison by analyst Ash Crypto across major markets showed chip stocks fell 22% in the same period, with the Nasdaq 100 and the Russell 2000 slipping by 9% and 3%, respectively.
The S&P 500 also fell, but its decline was much smaller than that of its counterparts, at about 1%. Silver dropped by 2.64%, but gold was little changed, adding just 0.38% to its value over 30 days.
What makes the gains by the cryptocurrencies noteworthy is that before July, they had endured a rough 2026. CoinGlass data shows BTC fell more than 10% in January, as it continued a red run that had started in October 2025. That sequence continued into February, when the OG crypto lost almost 15%, before reprieves in March and April. May registered a -3.41% return and June recorded the worst drop of the year so far when the asset lost over 20% of its worth.
Ethereum’s first two quarterly performances were just as bad, with Q1 returns at -21.26% and those for Q2 at -25.28%.
Recall that BTC started July trading near $58,000 but gradually climbed the chart, hitting a monthly high near $67,000 last week before price action started cooling somewhat. It was pretty much the same with ETH, as CoinGecko data shows it kicking off the month near $1,500 and eventually ending up very close to $2,000 as July drew to a close.
At the time of writing, the world’s second-largest cryptocurrency was changing hands just above $1,900, having shed about 1% in the last seven days. However, despite the good monthly run, it’s still more than 50% lower than where it was a year ago and about 61% away from its August 2025 all-time high. Bitcoin, on its part, has settled near $64,000, which is almost half of its own ATH, after shrugging off the slight volatility that came with yesterday’s decision by the Fed to keep interest rates unchanged.
August Record Keeps Traders Cautious
While July brought relief for crypto investors, CoinGlass data points to a recurring seasonal pattern. Every August since 2022 has ended with Bitcoin posting a monthly loss, including declines of 6.49% in 2025, 8.6% in 2024, 11.29% in 2023 and 13.88% in 2022.
That backdrop has kept analysts divided on what comes next, with Ali Martinez forecasting that Bitcoin’s bear market could last until October, while traders Pepesso and Crypto Lens expect another move lower before a broader recovery begins in 2027.
The post Bitcoin, Ethereum Outperform Markets in July as Chip Stocks Plunge 22% appeared first on CryptoPotato.
HYPE fell below $55 after Hyperliquid activated permissionless HIP-4 deployments on testnet, with whale transfers and broader crypto market weakness weighing on the token.
Summary
- HIP-4 permissionless deployments are now live on testnet, allowing developers to create prediction markets.
- HYPE declined almost 2% to around $54.70, losing the psychological $55 support level.
- HIP-4 markets hold roughly $182,000 in open interest and $881,000 in notional trading volume.
- A whale moved previously unstaked HYPE to FalconX and Coinbase Prime, according to Lookonchain.
Hyperliquid opens HIP-4 deployments on testnet
Hyperliquid has released the first implementation of permissionless deployments for its HIP-4 prediction-market framework on testnet.
The update allows developers to begin testing their own prediction and outcome markets on the decentralized exchange. Hyperliquid said it plans to introduce more features, including configurable fees and additional testnet templates.
HIP-4 extends the permissionless listing model used by HIP-3, which allows developers to deploy perpetual futures markets for different assets. The newer framework applies a similar approach to event contracts, placing Hyperliquid in closer competition with prediction-market platforms such as Polymarket and Kalshi.
A mainnet launch is expected to follow the testing phase, although Hyperliquid has not provided a confirmed date. Developers will likely use the testnet period to assess market settlement, liquidity, and contract configuration before deploying products involving real capital.
HIP-4 activity declines after the World Cup
Current activity on HIP-4 remains limited compared with established prediction-market platforms. Blockworks data shows that HIP-4 markets have about $182,000 in open interest and $881,000 in notional trading volume.
Sports contracts have accounted for most of the open positions. However, open interest has declined since the end of the 2026 FIFA World Cup earlier in July, reducing activity across Hyperliquid’s early event markets.
Permissionless deployment could broaden the available contract range beyond sports. Developers may eventually create markets tied to economic releases, elections and other measurable events, subject to the platform’s rules and applicable regulations.
The rollout also carries operational risks. Crypto.news reported on July 28 that Hyperliquid’s SK Hynix perpetual contract briefly dropped about 17.9% after an unusually low pre-market trade in South Korea affected its oracle price.
The market, listed as xyz:SKHX and displayed as SKHYNIX-USDC, tracks the U.S. dollar value of SK Hynix shares and offers leverage of up to 10 times. A Hyperliquid representative said Trade.xyz deployed and operated the market under HIP-3. Trade.xyz is investigating the incident and plans to release an update after completing its review.
Although that incident involved HIP-3 rather than HIP-4, it shows the importance of reliable pricing and settlement systems as Hyperliquid opens market creation to more developers.
HYPE price loses the $55 level
HYPE traded near $54.70 at the time of reporting, down almost 2% over the previous 24 hours. The decline pushed the token below $55 despite the HIP-4 testnet announcement.
The move followed weakness across the broader crypto market as Bitcoin fell below $64,000. Risk appetite declined amid reports that the United States and Israel were discussing a land blockade on Iran, raising concerns about a further escalation of the conflict.
On-chain transfers added to the pressure. Lookonchain identified a whale that acquired HYPE at an average price of about $18 several months ago before unstaking the tokens and depositing them with FalconX and Coinbase Prime.
Transfers to institutional trading platforms do not prove that a sale occurred. However, they can increase expectations of incoming supply, particularly when the holder sits on a large unrealized gain.
US prediction-market rules remain in focus
HIP-4’s expansion comes as U.S. regulators consider clearer federal standards for event contracts.
The Hyperliquid Policy Center and Multicoin Capital filed a joint comment supporting the Commodity Futures Trading Commission’s proposed prediction-market framework on July 27. They argued that written standards would help operators structure event contracts while limiting policy changes between presidential administrations.
The CFTC proposal addresses how the agency reviews contracts involving gaming, war, terrorism, assassination and conduct prohibited under federal or state law. These rules could affect how prediction markets are offered to U.S. traders, even as Hyperliquid advances its permissionless infrastructure.
HIP-4’s mainnet timing, developer participation, and recovery in open interest will determine whether the framework can develop beyond its initial concentration in sports markets. HYPE, meanwhile, must reclaim $55 to ease the immediate pressure created by market weakness and potential whale selling.
Bitcoin’s reaction to the Bank of Japan’s latest policy decision may look calm on the surface, but one analyst believes a much bigger liquidity risk is building beneath global markets.
His warning came after the BOJ left its benchmark interest rate unchanged at 1% on July 31.
Japan’s Bond Market Dilemma Could Spill into Crypto
According to EGRAG CRYPTO, Japan’s financial system has run for more than three decades on the assumption that money would stay almost free. That assumption formed after the Nikkei peaked near the end of 1989, and policymakers spent the following decades pushing rates toward zero to avoid a repeat collapse.
The approach let Japan pile up one of the largest public debt loads of any developed economy, and the Bank of Japan became the biggest single buyer of its own bonds.
The analyst wrote that “Japan is approaching one of the most dangerous monetary crossroads in modern financial history,” pointing to wage growth that has pushed past 5%, a level not seen since before the country’s deflationary stretch started.
That change weakens the old case for near-zero rates. Raise them, and Japan risks losses for banks, insurers and pension funds sitting on low-yield bonds, plus higher refinancing costs on its own debt. Keep them low, and the yen keeps sliding, pushing up import costs on energy and food.
Cheap yen also fed the carry trade for years, with investors borrowing in Japan and buying higher-yielding assets abroad, including US Treasuries, tech stocks and Bitcoin. EGRAG warned that a fast unwind would force those same assets to be sold to repay yen loans, a chain reaction that would not stay contained to Japan.
“Foreign assets are sold → yen is bought → yen strengthens → more leveraged positions are forced to close,” he wrote.
Bitcoin traded close to $64,000 following the rate decision, per CoinGecko data, up almost 9% in the past 30 days, although it was down nearly 2% for the week and roughly 18% over three months. The OG crypto had earlier shrugged off the volatility that came after the US Federal Reserve kept interest rates unchanged at 3.50% to 3.75% during the week.
Other Analysts Have Been Here Before
The idea that Japan could become a source of tighter global liquidity is not new. Earlier in the year, analyst Ted Pillows argued that rising Japanese bond yields were already making the yen carry trade less attractive, reducing the flow of money into higher-risk assets such as cryptocurrencies.
More recently, market commentator Hupzy suggested prolonged yen weakness could continue supporting demand for Bitcoin and stablecoins, while warning that any sudden intervention by Japanese authorities could trigger short-term liquidations across crypto markets.
EGRAG himself stopped short of claiming that a major unwind is already underway. Instead, the analyst suggested that investors should closely watch the yen, Japanese government bond yields, Bank of Japan policy decisions and capital flows for signs that the country’s decades-old monetary system is beginning to change, with consequences that could eventually extend to Bitcoin and the broader digital asset market.
The post Japan’s Bond-vs-Yen Dilemma Could Shake Bitcoin and Crypto: Analyst appeared first on CryptoPotato.
Coinbase stock extended its post-earnings sell-off on Friday, falling more than 12% as weaker trading revenue and a $359 million quarterly loss raised concerns about the exchange’s near-term growth.
Summary
- COIN fell 12.11% to $143.77, extending an initial 5.12% premarket decline.
- Second-quarter revenue reached $1.22 billion, below Wall Street’s $1.29 billion estimate.
- The stock broke below its $149.38 lower Bollinger Band, while daily RSI dropped to 39.19.
- Coinbase is targeting stablecoins, Base and prediction markets to reduce its dependence on trading fees.
Coinbase stock extends its post-earnings decline
Coinbase shares opened under heavy selling pressure after the company reported weaker-than-expected second-quarter results.
COIN traded at $143.77 at the time of the chart reading, down $19.81, or 12.11%, for the session. The stock touched an intraday low of $139.11 after opening at $153.10, showing that the sell-off accelerated after the opening bell.
The move followed a 5.12% premarket decline to $155.20. Coinbase had closed Thursday at $163.58 after gaining 2.18% during regular trading, but the earnings reaction erased that advance and pushed the shares to their lowest level since late June.
Weakness across the broader cryptocurrency market added to the pressure. Bitcoin fell 1.34% to approximately $63,655, while the total crypto market capitalization declined 1.11% to $2.18 trillion.
It matters for Coinbase because transaction fees remain tied to crypto prices and trading activity. Lower volatility or falling asset prices can reduce retail participation, even when the exchange gains market share.
Q2 revenue miss exposes trading slowdown
Coinbase reported $1.22 billion in second-quarter revenue, missing the $1.29 billion Wall Street estimate. Revenue fell 14% from the previous quarter and 18.5% from the same period last year.
The company also recorded a net loss of approximately $359 million. Lower retail and institutional transaction revenue weighed on the result as digital asset trading slowed across key markets.
Coinbase nevertheless said its share of global crypto trading volume reached a record 10.3%, up from 9.1% during the first quarter. The exchange has now gained market share for three consecutive quarters despite weaker conditions across the wider market.
Derivatives activity remained close to the previous quarter’s record, while event contracts and related revenue increased 106% quarter over quarter. That business surpassed a $100 million annualized revenue rate, according to the company.
Stablecoins also provided a source of growth. Average USDC held across Coinbase products reached a record $20 billion, representing more than 30% of the stablecoin’s circulating supply.
Chief Executive Brian Armstrong has positioned stablecoins, the Base blockchain and prediction markets as important parts of Coinbase’s expansion beyond spot cryptocurrency trading. Subscription and services revenue could also reduce its exposure to sharp changes in transaction activity, although the latest earnings show that trading conditions still have a large effect on overall performance.
Coinbase stock breaks below a key technical level
Coinbase’s daily chart shows that the earnings decline pushed the stock below the lower boundary of its Bollinger Bands.
COIN traded beneath the lower band at $149.38 after reaching $139.11. A drop below that boundary suggests the selling move has stretched beyond the stock’s recent trading range, although it does not guarantee an immediate recovery.
The daily relative strength index fell to 39.19, below its signal average of 49.51. Momentum has weakened sharply, but the RSI remains above the conventional oversold threshold of 30, leaving room for additional losses if sellers remain active.
Immediate support sits between $139 and $140, where buyers briefly entered during Friday’s decline. A decisive break below that area could expose the $130–$135 region, which supported the stock during its February sell-off.
On the upside, COIN must first recover the lower Bollinger Band near $149.38. Further resistance sits around Friday’s opening range between $153.10 and $153.68.
A sustained rebound above those levels could shift attention toward the Bollinger midpoint at $161.88. That level now stands close to Thursday’s $163.58 closing price and represents a more demanding test for any earnings-driven recovery.
Leadership changes add to the uncertainty
The earnings decline follows several changes across Coinbase’s senior management team. As crypto.news reported one week before the results, the exchange replaced or reassigned four senior leaders after cutting 14% of its workforce.
Chief People Officer Lawrence Brock is scheduled to leave his role on Aug. 17, with Dominique Baillet expected to succeed him. Greg Tusar, co-head of Coinbase Institutional, has moved into a policy-focused position.
Paul Grewal also planned to leave his roles as chief legal officer and corporate secretary on July 31. Molly Abraham is set to become general counsel and secretary, while Ryan VanGrack will serve as Coinbase’s first vice chair and head of corporate affairs.
Coinbase separately appointed early company engineer Rob Witoff as chief technology officer on July 28. Armstrong credited Witoff with helping make Coinbase “one of the most AI-enabled companies in the world,” although that description represents the chief executive’s assessment rather than an independently measured ranking.
For U.S. investors, the earnings miss places more attention on Coinbase’s ability to turn its wider product strategy into recurring revenue. The company has expanded across derivatives, stablecoins, stocks and prediction markets, but COIN’s near-term direction may continue to depend on crypto trading volumes and whether the shares can recover above $149.
Microsoft investors have 11 days to take control of a fraud lawsuit. It says the company hid trouble inside Copilot, its main artificial intelligence product.
The timing is odd. Microsoft just set a US record for market value gained in a single day. The engine behind that gain was the same product the lawsuit attacks.
What the Lawsuit Says
The case covers anyone who bought Microsoft stock between May 1, 2025 and January 28, 2026.
Investors say Microsoft praised Copilot in public while hiding its flaws. They argue the stock traded far above what it was worth.
The suit sits in a federal court in Washington state. A police and fire pension fund from Michigan is named first.
The alleged flaws are simple ones. Confusing branding. Tools that did not work well together. Customers who tried Copilot and never paid for it.
The Day the Stock Broke
Microsoft reported fiscal second quarter results on January 28. Revenue rose 17% to $81.3 billion. Azure grew 39%.
Investors looked past those numbers. Record capital spending worried them, and Microsoft put Copilot at just over 15 million paid seats.
The complaint puts it harder. It says Azure growth slowed suddenly and the Copilot figure landed well below what analysts had modelled.
The stock fell the next day from $481.63 to $433.50. That is $48.13 gone, or 10%.
Similar suits have followed big tech AI spending letdowns all year.
Then Microsoft Came Roaring Back
On Wednesday, Microsoft posted $90 billion in fiscal fourth quarter revenue. Azure grew 43%. Copilot seats doubled to more than 30 million.
Shares jumped over 16% on Thursday. Microsoft gained roughly $450 billion in value, the biggest one-day rise any US company has ever posted.
“This year, Azure revenue surpassed $100 billion for the first time, and Microsoft 365 Copilot reached over 30 million paid seats, reflecting the confidence customers are placing in us to power their AI transformation,” Nadella said in the earnings release.
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The stock traded at $462.52 on Friday, up 2.53%. That is still under the $481.63 close before the January fall. The losses are real. So is the comeback, and Microsoft’s lawyers will say so loudly.
So Will Investors Get Money Back?
Most will not, and the few who do will likely wait years for a small cheque. August 11 is not a payday. It is the last day to ask the court to lead the case.
Anyone who bought in that window keeps the right to money later. No sign-up, no lawyer, and no fee.
The notices filling inboxes this week are adverts. Law firms send them after every big stock drop.
Microsoft will now ask a judge to throw the case out. Most suits like this die right there. The ones that survive tend to settle for a small share of the losses claimed, and that takes three years or more.
The rally makes the climb steeper. It is harder to argue investors are still out of pocket when the stock has clawed back most of the fall.
The lesson for traders is short. AI promises now carry legal risk, and that risk sits in the market’s biggest names. That matters while shares still move as one giant AI trade, and it belongs in any list of US stocks to watch in August.
The post Microsoft Copilot Lawsuit Deadline Is August 11: Will Investors Get Money Back? appeared first on BeInCrypto.
Memecoin platform Pump Fun reportedly fired staff members months before their Pump Fun tokens were about to be unlocked, leaving one employee cut off from a potential seven-figure payout.
That’s according to crypto news outlet Sandmark, which obtained recordings and files on the firings.
It reports that Pump Fun was able to grow its employee count to 100 this year. However, recordings of a March meeting revealed the platform’s co-founder Noah Tweedale telling staff that layoffs were needed as Pump Fun “grew too quickly” and couldn’t move “fast and rough.”
Sandmark claims that several employees were terminated in April. Many of those affected reportedly signed a token agreement in mid-June 2025 that would’ve seen a quarter of their Pump Fun tokens unlocked two months later.
According to one X account claiming to campaign on behalf of Pump Fun employees who were laid off before their vesting period unlocked, over 40 staff members have faced the chop in the last two months.
The account’s owner says they were laid off just one day before the vesting period unlocked, and that many of the employees were “treated like cattle.”
They have since restricted the account and deleted one of its posts.
Read more: Crypto firms cut jobs as bear market and AI shift bite
Pump Fun is behind on its regulatory filings
Sandmark also spotted that the business accounts of Pump Fun’s UK parent company, Baton Corporation, are overdue by one month. Indeed, UK Companies House states the accounts dated up to 30 September 2025 are yet to be filed.
It says the penalty for being more than a month overdue is £375 ($505), over three months is £750 ($1,010), and over six months will land Pump Fun with a fine of £1,500 ($2,020).
Of course, this is chump change for a firm that recently hit cumulative revenue of over $1 billion. Its PUMP token, however, is down almost 76% since it’s all-time high last September.
Read more: Coldcard attack: 25 minutes, 500 wallets, $38M in BTC gone
Pump Fun has joined a raft of crypto firms that have fired staff this year. However, the firm’s “grew too quickly” explanation appears to differ from the prevailing narrative across the industry.
When crypto exchange Coinbase announced in May that it would lay off 14% of its workforce, it claimed this was due to market conditions and Coinbase’s desire to incorporate AI.
Gemini also let go of 25% of its staff in February while citing AI changes, while Jack Dorsey’s Block cited AI when it decided to fire 50% (around 4,000 members) of its staff.
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Senate leaders still intend to bring the CLARITY Act to the floor before the August recess, although unresolved negotiations and a crowded calendar leave the timing uncertain.
Summary
- Sen. Cynthia Lummis expects Senate action on the CLARITY Act before the August recess.
- Majority Leader John Thune has reportedly reserved floor time for the crypto market structure bill.
- Revised ethics language would let state authorities enforce restrictions on federal officials’ token activities.
- The Senate must navigate nominations, funding talks and sanctions legislation before leaving Washington.
Lummis says CLARITY Act remains on the agenda
Sen. Cynthia Lummis told crypto journalist Eleanor Terrett that Senate leadership is still seeking to take up the CLARITY Act before lawmakers leave Washington for their August recess.
Lawmakers have “one more week here in Washington,” according to Lummis. She said multiple nominations, discussions over a continuing resolution and votes related to Iran and Russia-Ukraine sanctions were competing for limited floor time.
Despite those demands, Lummis said Senate Majority Leader John Thune had continued to reserve space for the crypto bill.
“Senator Thune has kept a place for the Clarity Act on the agenda before the August recess for many, many weeks now,” Lummis said. “I believe he does intend to go through with it.”
The exact schedule has not been confirmed. Lummis said the Senate could proceed within days but could not say whether action would begin immediately or early next week. Her comments indicate that leadership still intends to test the bill on the floor, rather than guaranteeing a final passage vote.
Revised ethics proposal could unlock Democratic votes
The renewed timeline comes as Senate negotiators seek to resolve an ethics dispute that has prevented a broader bipartisan agreement.
Republican Sen. Thom Tillis and Democratic Sen. Ruben Gallego have reportedly submitted revised language to the White House. Their proposal would allow state authorities to enforce a ban on federal officials issuing or sponsoring digital tokens, instead of placing enforcement solely with the U.S. Attorney General.
Several Democrats had argued that exclusive Justice Department enforcement would provide insufficient independence because the department operates within the executive branch. The counterproposal could address that concern, but it still requires support from the White House and enough senators to advance the broader legislation. Earlier reports state that the Tillis-Gallego compromise would need approval from both sides.
The White House said on July 22 that it had accepted extensive federal ethics restrictions following talks with Republican Sens. Lummis and Bernie Moreno. Officials did not release the final text or explain the proposed enforcement process at the time.
CLARITY Act still faces a 60-vote Senate test
Republicans control 53 Senate seats, meaning the legislation would likely need at least seven Democratic votes to clear the chamber’s 60-vote procedural threshold.
The House passed its version of the CLARITY Act by a 294–134 vote in July 2025, with 78 Democrats supporting it. The proposal seeks to divide oversight of digital assets between the Securities and Exchange Commission and Commodity Futures Trading Commission while establishing rules for exchanges, brokers and token issuers.
Treasury Secretary Scott Bessent increased pressure on senators this week by calling for an immediate vote. He accused Democrats of delaying the legislation and argued that further inaction could weaken U.S. competitiveness in digital assets. Bessent wrote on X that the Senate needed to vote “NOW.”
What happens before the August recess
The immediate test is whether the White House accepts the revised ethics language and whether Thune formally schedules floor proceedings.
Other disputes, including provisions affecting blockchain developers and stablecoin rewards, could still complicate negotiations. Even if the Senate begins considering the bill, amendments and procedural votes may prevent final passage before the recess.
Failure to act within the remaining window would likely push the CLARITY Act into the Senate’s post-recess calendar, narrowing the time available to reconcile it with the House version. For U.S. crypto firms and investors, the outcome will determine whether a federal market structure framework advances this summer or remains unresolved for another legislative period.
Some prominent bitcoin advocates say the incident is among the most damaging failures of self-custody the industry has experienced.
“This is the worst hit in bitcoin history to the most knowledgeable and ‘properly secured’ bitcoiners,” said Bitcoin commentator Guy Swann. “This isn’t an exchange getting hacked because of hot keys. This is thousands of individuals having their personal private keys recreated out from underneath them.”
Trading one risk for another
For years, bitcoin advocates have argued that holding private keys removes the counterparty risk of centralized exchanges, a lesson reinforced by failures such as FTX. Analysts now argue that users have simply exchanged one set of risks for another.
“The self-custodial hardware space is a disaster at this point and creates more bad rep for the industry than anything else,” said Lorenzo Valente, director of digital asset research at ARK Invest.
“In practice, consumers have traded counterparty risk for software risk, hardware risk, supply-chain risk, phishing risk, backup risk, and the possibility of losing everything through one mistake,” he said. “Frankly, you are better off today holding funds across several publicly-traded exchanges or ETFs.”
The Coldcard flaw illustrates that challenge. Researchers found that certain firmware versions generated wallet seeds using far less randomness than intended, making them susceptible to brute-force attacks.
Beth Hammack, president and chief executive officer of the Federal Reserve Bank of Cleveland, during a research conference at the Federal Reserve Bank of Dallas in Dallas, Texas, US, on Friday, Oct. 31, 2025.
Desiree Rios | Bloomberg | Getty Images
Federal Reserve officials who voted this week against the decision to hold interest rates steady said Friday they favor hiking now as a way to stave off inflation.
“In my view, now is the time for the [Federal Open Market Committee] to act to speed the return of PCE inflation to our 2 percent objective and deliver on our commitment to price stability for the American people,” Cleveland Fed President Beth Hammack said in a statement. “The longer that high inflation persists, the more challenging and costly it can be to bring it back down.”
Similarly, Minneapolis Fed President Neel Kashkari said in a separate statement that he believes small hikes now can prevent the need for larger moves later.
“In my view, a potential series of small policy moves would be better than waiting and eventually concluding that even bolder actions were necessary,” he said.
Kashkari and Hammack joined Dallas Fed President Lorie Logan in dissenting against holding the Fed’s key overnight borrowing rate in a range between 3.5%-3.75%. The other nine voting members of the FOMC voted in favor of keeping the rate steady, where it has been all year following a series of three cuts in the latter part of 2025.
Inflation has held above the Fed’s 2% target for more than five years, spiking again this war following the Iran war and the impact of President Donald Trump’s tariffs.
Logan said the Fed can’t count on an unexpected jolt to the economy to lower inflation and needs to be proactive.
“Labor, consumption and financial market conditions indicate that monetary policy is not restraining the economy,” she said, also in a prepared statement. “Without any policy restraint, inflation will likely continue to trend above target until there’s an unanticipated shock.”
Though price increases eased in June as Middle East tensions briefly eased, energy costs again have risen and generated fears that the Fed will have to tighten.
Though he voted in favor of the hold, Fed Chairman Kevin Warsh said he remains resolute in getting inflation back to target.
“We have begun a new chapter, and we understand that the five-plus years of inflation above target cannot be cured in nine weeks — or by a single month of modest price decreases,” he said.
However, Hammack said she is “not confident it will return to our objective on its own.”
“Supply-side factors, including energy prices, have boosted inflation this year, but I see inflationary pressures coming from the demand side of the economy, as well,” she added.
Hammack said her constituents in the Cleveland area have been describing “pricing pressures as broadening rather than fading, and consumers are expressing despair over persistently higher prices.”
For his part, Kashkari’s comments harken back to both the 1970s period of high inflation and the more recent episodes in which Fed officials initially dismissed the flare-up as “transitory” and brought on up issues related to the Covid pandemic.
“Economic theory argues that monetary policy is the right tool to address demand-driven inflation but faces greater trade-offs when dealing with supply shocks,” he said, adding, “I increasingly believe that monetary policy does have an important role to play in addressing a series of successive supply shocks that might lead to entrenched higher inflation.”
Logan is expected to release a statement explaining her vote later Friday morning.
Trump also displayed his name on the Kennedy Center in Washington, D.C.—but last month, six months after it was affixed to the building, it was removed, per a federal judge’s order to restore the cultural center’s original name.
Democrats have overwhelmingly denounced the President’s efforts to affix his name and likeness onto government buildings, programs, and items. Several lawmakers signed an open letter to Trump in February objecting to his plans to shutter the Kennedy Center for two years while it underwent renovations.
“The Kennedy Center is a living memorial to President Kennedy,” Rep. Lizzie Fletcher, a Democrat from Texas, said in a social media post, in which she shared the open letter in February. “President Trump’s announcement that it will also bear his name (in violation of the law establishing it) and that it will be closed for two years (for unidentified repairs) show the narcissism and lawlessness that define this Presidency.”
Apple (AAPL) stock opened sharply lower on Friday at $304, down more than 9%. Weak fiscal fourth-quarter guidance overshadowed a record June quarter that beat estimates on revenue and earnings.
Shares closed Thursday at $333.43, down 1.41%, days after Apple briefly touched a $5 trillion valuation.
Record Quarter Meets Cautious Guidance
Apple reported June-quarter revenue of $109.42 billion, above the $108.65 billion consensus. Earnings per share reached $2.02, well above the $1.89 estimate. The full results showed revenue up 16% year over year, a June-quarter record.
iPhone revenue climbed 22% to $54.25 billion, while Mac sales jumped 29% to $10.35 billion. However, Services revenue of $30.74 billion and Greater China sales of $18.82 billion both missed forecasts.
The outlook did the real damage. CFO Kevan Parekh guided September-quarter revenue growth of 9%–11%, below the roughly 12% analysts expected. He cited supply constraints, currency headwinds, and a memory cost squeeze driven by AI demand for DRAM and NAND chips.
The report also marked Tim Cook’s final earnings call as CEO. John Ternus, who takes over on September 1, told analysts Apple sees a major opportunity in AI.
Expanding Volume and RSI at 62 Keep Buyers Interested
Before the guidance shock, the daily chart looked firmly bullish. AAPL corrected only modestly from its $344.57 all-time high, holding a fresh support zone around $333. That area capped price in mid-July before the breakout, a classic resistance-turned-support flip.
Momentum backs that read. The daily Relative Strength Index (RSI) sits near 62, just below firmly bullish territory. Meanwhile, trading volume has expanded in recent sessions, a sign of growing participation. That combination fueled the milestone run to a $5 trillion valuation earlier this week.
If the weakness holds, $280 becomes the immediate battleground. The level rejected price in February and caught the sharp early-July dip.
AAPL Price Prediction Hinges on the $315 Zone
Earnings gap-downs sometimes retrace once the initial selling fades. If buyers reclaim $315 in the coming sessions, the structure of higher highs and higher lows stays intact. A recovery of the $333 zone would then put the $344.57 record back in play, roughly 12% above premarket levels.
Failure to reclaim $315 keeps sellers in control and exposes $280. That would mark the deepest correction since the early-July pullback.
Two catalysts could decide the outcome. Long-term memory supply agreements would ease the margin fears behind the weak guidance. Additionally, the redesigned Siri launch this fall could revive the AI optimism that a July forecast identified as a key driver of the rally.
The next few sessions come down to one question. Either buyers set up an attempt at $315, or the post-earnings gap grows into a broader trend reversal.
The post Apple Stock Slips After Earnings: Can $280 Hold the Line for a New All-Time High? appeared first on BeInCrypto.
HYPE price falls below $55 as HIP-4 goes live
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