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- 😀 Was $60K The Bitcoin Bottom? Maybe...
😀 Was $60K The Bitcoin Bottom? Maybe...
Plus, the Palantir earnings prediction market preview.
Ivan
August 03, 2026
Happy Monday!
Bitcoin may already have bottomed and nobody noticed. Here’s the case Scott Melker makes why the bottom could be in.
Palantir is reporting earnings after the close today and prediction markets are speculating: what will CEO Alex Karp talk about?
Plus, if you’re looking to better understand prediction markets and what Wall Street is pricing in, be sure to sign up for the upcoming Cboe and Benzinga webinar. Reserve your free spot now.
TOP STORY
Bitcoin may have bottomed at $60,000, says prominent commentator Scott Melker, pointing to a deeply oversold weekly RSI and a recovery above the 200-week moving average that mirrors prior cycle lows.
The structural case is strengthening: every "buyer of last resort" turned into a forced seller — Strategy liquidated holdings, miners redirected capital to AI infrastructure, and spot ETFs bled outflows.
Meanwhile, whales who sold into the October 2025 all-time high near $126,000 are quietly accumulating again near $60,000 as retail capitulates into AI and semiconductor stocks…
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MARKET MINUTES
Bernie Sanders is less than impressed by the CLARITY Act — here’s what he had to say about it on a weekend podcast.
Ripple today announced that it has made two new investments in crypto firms. The good news adds to the $27 million in XRP ETF inflows in July.
The CLARITY Act would be a nice bullish catalyst, but failure is not devastating to crypto, according to ex-CFTC Chairman Chris Giancarlo — here’s why.
FINTECH FOCUS
Palantir Technologies reports Q2 earnings after the bell with Polymarket giving a 93% chance of beating the 35-cent consensus.
The real action is on Kalshi, where traders are scripting CEO Alex Karp's call:
"International" leads at 95% after U.S. revenue grew 104% last quarter while international lagged at 37%.
"Maven" trades at 90% with the Pentagon expanding the battlefield AI program to nearly $1.3 billion through 2029.
"Warp Speed" sits at 75% on the back of the Navy's $448 million Ship OS investment, while "Sovereign AI" trades at 57%.
What else will Alex Karp talk about?
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