Morning Brief
Stocks rebound, Bitcoin steadies, leveraged crypto ETFs crash
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Show notes
US futures are higher after Monday’s sharp selloff, with the S&P 500 (^GSPC), Dow (^DJI), and Nasdaq (^IXIC) all turning green and the Russell 2000 leading gains. Bitcoin (BTC-USD) is holding above $87,000 after its worst drop since March, with traders watching key support at $80,000 and resistance near $110,000.
Leveraged crypto ETFs MSTX and MSTU are down more than 80% this year despite Strategy injecting a $1.4B reserve to stabilize payouts. At the same time, institutional participation is rising: Bank of America now recommends a 1–4% crypto allocation, and Vanguard is allowing crypto-heavy ETFs and mutual funds on its platform.
Treasury yields remain elevated after their biggest surge since 2008, while markets still expect a 25 bp Fed cut next week. Strategists are watching the U.S. dollar near the 100.5 level for direction. Kevin Hassett — a leading candidate for Fed Chair — is drawing attention for a new digital-asset policy blueprint that could shape 2026 crypto regulation.
Takeaways:
Futures rise after Monday’s selloff; small caps lead
Bitcoin stabilizes above $87K; key levels at $80K and $110K
Leveraged crypto ETFs sink 80%+ even after a $1.4B reserve
Bank of America endorses crypto exposure; Vanguard reopens platform to crypto funds
Yields stay elevated ahead of expected Fed cut; dollar strength remains a risk
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