Good morning. The very first company to hit $1 trillion market cap was Apple $AAPL ( ▼ 0.3% ) in 2018. It took the company 42 years to get there, then just two more years to double it.

Patience isn’t just a virtue in trading, it’s a superpower.

-Pat Lewis, Shaun A, Jonathan Kibbler

MARKETS

Prices supplied by Google Finance as of 4:00am ET - stock prices as of close. Here is what the prices mean.

CRYPTO

Altcoins start to wake up from their slumber! While Bitcoin has naturally, been the star of the show for months, there's growing signals that we might finally be entering a proper altcoin season. It’s getting harder to ignore: Bitcoin's dominance has slipped from 66% to about 61% in recent weeks, and money is clearly starting to flow into major alternative cryptocurrencies. If this rotation continues, we could be in for some serious action across the board.

And of course XRP, which just recently achieved something remarkable - hitting a new all-time high for the first time since 2018. After years of being bogged down by legal battles with the SEC, Ripple's native token is finally breaking free. The improved regulatory clarity following Ripple's partial legal victory has been a game-changer, and it's worth noting that hundreds of financial institutions are already using Ripple's payment technology. With momentum clearly building, some analysts are already eyeing the $5 mark as the next major target if this breakout holds. XRP's resurgence isn't just a fluke - it's a sign that institutional crypto adoption is moving forward, one cross-border payment at a time.

Cardano has been flying under the radar lately, but that might be about to change. ADA's price has been consolidating for quite some time, and if history is any guide, this could be the calm before the storm. The network continues to make progress with its Hydra upgrade that improves scalability, and its real-world use cases, particularly in Africa, keep growing. While Cardano might not be the flashiest blockchain out there, it has a habit of delivering impressive runs when altcoin seasons hit. There's a reason it's still a top 10 cryptocurrency despite the quiet period - the fundamentals remain strong.

Hedera is perhaps the most underrated player in this group. While it doesn't get as much attention as some other altcoins, its technology is quietly winning over major corporations. The fact that companies like Google, IBM and Boeing are part of Hedera's governing council tells you something about its potential. What makes Hedera stand out is its combination of enterprise adoption, incredibly fast and cheap transactions (we're talking 10,000 transactions per second for fractions of a cent), and the fact that HBAR still looks undervalued compared to similar layer-1 tokens. This isn't a coin that will pump because of memes - if it moves, it will be because serious money is taking notice.

So is this really the start of altcoin season? The Altcoin Season Index, which tracks whether 75% of top altcoins are outperforming Bitcoin, isn't quite flashing a full confirmation yet, but we're getting close. The pieces are falling into place - Bitcoin's dominance is dropping, Ethereum and XRP are leading the charge, and traders are starting to rotate profits into other coins. If this trend continues, the next few weeks could be huge for these established altcoins with real use cases.

What's interesting about this potential altcoin season is that it might be different from previous ones. Instead of being led by obscure meme coins and vaporware projects, this time we're seeing serious money flow into cryptocurrencies with actual utility and adoption. Ethereum remains the obvious leader with its massive ecosystem, XRP has risen from the ashes of its legal battles, Cardano looks poised for a breakout after months of consolidation, and Hedera represents the quiet but powerful enterprise play that many traders overlook.

The smart money seems to be positioning itself in these four altcoins, each representing a different but important aspect of the cryptocurrency space. Ethereum covers the broad smart contract platform sector, XRP represents the payments revolution, Cardano brings its unique scientific approach to blockchain, and Hedera offers the enterprise adoption angle. As the market heats up, it will be fascinating to see which of these ends up delivering the most impressive run. One thing's for sure - if this is indeed the start of a proper altcoin season, these are the projects that are likely to lead the way rather than the flavor-of-the-week meme coins that dominate social media chatter. The foundations are there, the technicals look promising, and now we just need to see if the market agrees.

-Pat Lewis

LEARN

If CPI and PPI are the flames, GDP is the fireproof wall, it tells us how hot the economy really is. Ignore it, and you’re flying blind when it comes to spotting major shifts in currencies, stocks, and commodities.

Most traders underestimate GDP because it’s “old data,” but markets don’t just react to the number, they react to what it says about growth trends, central bank moves, and where money flows next.

Gross Domestic Product (GDP) measures the total value of goods and services produced in a country. In short: it’s the economy’s grade card.

Stronger GDP = robust demand, healthy jobs, and potentially tighter monetary policy. Weak GDP = growth fears, rate cuts, and safe-haven demand.

GDP matters because it sets the tone for central bank policy. Rate decisions don’t happen in a vacuum, they happen in an economy driven by GDP trends.

When GDP surprises to the upside, central banks may delay or even cancel planned rate cuts. That’s bullish for the currency and often bearish for gold and equities (higher borrowing costs hurt risk assets).

Flip it: A weak GDP print fuels growth fears, pushes bonds higher, and sends traders piling into gold, yen, or the Swiss franc.

Example: If U.S. GDP comes in at 2.5% vs. 1.8% expected, the dollar spikes because the Fed has less reason to cut. Miss expectations by a mile? The opposite reaction.

Like CPI, GDP is a game of expectations. If the actual number beats consensus, markets can rip higher, even if growth is slowing compared to last quarter. Miss estimates? You’ll see instant repricing in FX and equities.

Revisions matter too. A big upward revision can move markets as much as the initial print. Always check the fine print before you trade the headline.

Quarter-over-quarter (QoQ) and annualized figures are key for us traders. QoQ shows the short-term momentum; annualized gives the big-picture trend.

Also, watch for components:

If consumer spending tanks, that’s a red flag even if headline GDP looks decent.

GDP alone doesn’t set rates. It’s the mix of growth and inflation that moves central banks. Strong GDP + sticky inflation = hawkish tone. Weak GDP + cooling inflation = rate cuts on deck.

Pair GDP with CPI and PPI to see the full map. It’s not about one print, it’s the story they tell together.

GDP is the big boss of macro data. It drives central bank thinking, shifts market sentiment, and dictates long-term trends. If you trade FX, indices, or gold, you can’t afford to treat GDP as “background noise.”

Mark the release date. Watch the expectations. And remember: the number itself matters less than what it signals for policy and risk appetite.

-Shaun A

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ANSWER

Answer: Interest Rate