Happy Thursday!

Bitcoin and ETH have been ‘remarkable’ in how resilient they’ve been over the past month as AI got routed. Is it time for a bounce?

Amazon is reporting earnings after the close today and prediction markets are speculating: what will CEO Andy Jassy 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.

Contest: Test your market smarts and and compete for $500, as well as free Benzinga PRO and EDGE subscriptions. It only takes 30 seconds.

TOP STORY

Bitcoin, Ethereum Showed 'Remarkable Resilience' During AI Rout: Is This The Bottom?

Bitcoin and Ethereum are flashing "remarkable resilience" against the AI stock rout, with analyst Doctor Profit doubling down on his July crypto pivot as proof the market is rotating.

His thesis: the correction has been concentrated in AI and semiconductors while BTC held its range and ETH surged 22% over the past month, both outperforming the S&P 500's 2.4% decline.

He cautions it's too early to declare a full crypto-equity decouple, but says if the divergence persists through coming weeks…

SPONSORED CONTENT

Learn How To Convert Probabilities To Prices Through Prediction Market Frameworks In This Cboe Webinar

Ever had a strong opinion on the price direction of the stock market? Prediction markets let you turn that opinion into a real, tradeable price. In this upcoming Cboe and Benzinga webinar, you will learn how to turn probabilities into prices, identify potential edge and better understand what markets are telling you.

Tune in Thursday, Aug 6 at 11 a.m. EDT as we introduce Yes/No and Plus contracts – two ways to express conviction, from all-or-nothing positions to directionally correct views across a range of outcomes. We will also connect these concepts to the broader S&P 500® Index ecosystem. If you’re looking to build a stronger foundation in how markets price expectations, this webinar is for you!

This is a paid ad. Please see 17b disclosure here for more information.

MARKET MINUTES

Ethereum is celebrating its 11th birthday today. Is the new leadership going to help us celebrate with higher prices?

The White House’s crypto advisor is not impressed by the continued resistance to the CLARITY Act. What is rubbing him the wrong way?

Bitcoin buyers are currently being ‘paid to wait’, according to Glassnode’s latest report. What do they mean by this?

FINTECH FOCUS

Amazon Earnings Prediction Market Preview: What Will Andy Jassy Talk About?

Amazon reports Q2 earnings after the bell Thursday, with Polymarket giving a 94% chance of beating the $1.82 EPS consensus.

The real story is on Kalshi, where traders are scripting CEO Andy Jassy's call.

"Tariff" leads at 95% after new forced-labor tariffs of 10%-12.5% on 60 trading partners took effect Friday, while "Trainium" sits at 91% as Jassy's bet that custom AI chips could save tens of billions in capex.

What else will Andy Jassy talk about?

BENZINGA TRIVIA CHALLENGE

💰Don’t Miss Your Shot To Win $500💰

The race is on for the $500 grand prize as we near the end of the week. If you haven't played yet — or missed a day — there's still time to climb the leaderboard by taking today's quiz and catching up on earlier quizzes from this week.

Compete for awesome prizes, including $500 cash, as well as Benzinga PRO and Benzinga EDGE subscriptions. Put your market knowledge to the test with today's 30-second trivia challenge.

Missed yesterday's quiz? Catch up here. The more daily quizzes you complete, the better your chances of landing a top spot. Remember, it only takes one great score to win.

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Ring The Bell: Created for market enthusiasts by market enthusiasts, this daily newsletter delivers top stories, fast movers and hot trade ideas straight to your inbox. Subscribe here.

Advisor: Tailor-made for Financial Advisors, this weekly newsletter has industry-specific insights, analysis and news. Subscribe here.

Tech Trends: Get the inside scoop on AI, the hottest gadgets and mind-blowing tech trends. Subscribe here.