Good Morning. The first stock ticker was invented in 1867 and ran on paper tape. Before Bloomberg Terminals and TradingView charts, traders watched a small machine punch out prices on thin rolls of paper, known as ticker tape. It was so revolutionary that brokers used it well into the 1960s, and it’s where the term “ticker symbol” comes from.

-Jonathan Kibbler, Jordon Mellor, Patrick Lewis

MARKETS

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

TRADER INSIGHTS

I was reviewing my weekly report and trading watchlist and spotted a couple of opportunities that I thought I'd share.

And you know, I haven't spoken about the Japanese Yen in a while, so here I go. 

If you've been watching the stock markets lately you may have seen that most of the top indexes are now approaching all-time highs again. A recovery that many thought wouldn't come, as global uncertainty surrounding the tariffs caused all sorts of turmoil.

But that seems to be changing, today the US and China held trade tariff talks in London, and the market seems to be waiting on for any developments.

The put-to-call ratio which measures options contracts is heading lower which signals investors are getting bullish.

Risk on sentiment tends to see investors leave safe haven currencies such as the Japanese Yen and into risk currencies like the Australian and New Zealand dollar.

The currency strength meter highlights the Japanese Yen is losing strength going from a neutral 0 to -3, whilst the risk currencies such as the Australian dollar and New Zealand dollar gained strength.

Pairing those currencies together we could look for long opportunities on AUDJPY and NZDJPY.

The price of NZDJPY traded through the bearish channel resistance and above the key resistance level of 87.00. A break and hold above this key area could see a bullish trend form.

Taking a look at the commitment of trader reports I can see that the large speculators added 10,575 short contracts and decreased long contracts by -2,288.

This tells us that large speculators are reducing their long exposure to the Japanese Yen as of now.

Whether this remains the same, we will have to wait and see. But as for trading opportunities at the moment, I can see some short-term JPY weakness sticking around.

The Japanese economy took a bit of a hit today as GDP growth fell from 2.2% to -0.2%. That's a significant shift in growth and could put plans of a rate hike from the Bank of Japan on pause for a moment.

The Japanese Yen is showing up as weak on most fundamental indicators as well as technically. The opposite could be said for the New Zealand dollar and Australian dollar. This could lead to some trading opportunities around these pairs.

-Jonathan Kibbler

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MARKET ANALYSIS

The markets are holding their collective breath, and Bitcoin holders presumably crossing all their fingers and toes as the world’s top crypto teeters on the edge of what could become its next major price breakout. This comes after months of solid price breakouts, so if you are holding BTC, way to go! The reason for the upcoming (potential) leg up is a fresh $1 billion USDT minting by Tether on the Tron network, marking the stablecoin giant's second massive liquidity injection in under thirty days. This move comes at a particularly delicate moment in market cycles, just seventy-two hours before the highly anticipated release of May's U.S. Consumer Price Index data (the scary economic report card that usually sends shockwaves through risk assets).

As of Tuesday morning trading, Bitcoin has established a nice foothold around the $106,750 level, notching a modest but meaningful 1.5% daily gain while trading volumes balloon to over $41 billion. For seasoned market participants, these conditions are starting to look very familiar. The playbook from late May remains fresh in traders' minds, when Tether's previous $2 billion mint on May 21 acted as rocket fuel, propelling Bitcoin past the $111,000 barrier within a single trading session. The question now isn't whether history might repeat itself, but how similar the present will be to the past.

Tether's minting machines have been operating at full throttle throughout 2025, with the stablecoin issuer having already minted an astonishing 16.7 billion USDT across both Ethereum and Tron networks. These patterns have become almost textbook: in late April, a 6 billion USDT issuance coincided with Bitcoin finally conquering the psychological $100,000 resistance. Mid-May's 2 billion USDT injection arrived just as Bitcoin began its push to $105,000. Now, with the market having consolidated in a tight range for nearly two weeks, this newest billion-dollar liquidity bomb could provide the necessary catalyst to shatter current resistance levels.

The mechanics behind this "Tether effect", if you will, are relatively straightforward but profoundly impactful. Freshly minted USDT typically finds its way onto major exchanges within days, effectively arming traders with additional buying power. This liquidity surge creates a multiplier effect - as more capital becomes available for deployment, larger positions can be established, which in turn attracts more market participation. The current technical setup appears particularly primed for such stimulation, with Bitcoin having established a series of higher lows since its last major pullback while volatility indicators suggest an imminent expansion.

Supporting the bullish thesis, several key market metrics have begun flashing green simultaneously. Daily trading volumes have surged 18% to cross the $41 billion threshold, while aggregate open interest across derivatives platforms has climbed 3% to reach $73.5 billion - clear signals that market participants are preparing for potential increased volatility. Perhaps most telling is Bitcoin's market dominance, which continues to hold firm at 64% despite altcoins' periodic attempts to rally. This sustained dominance suggests that the vast majority of incoming capital continues favoring Bitcoin over smaller-cap alternatives, with analysts projecting potential expansion to 71% before any meaningful rotation into altcoins occurs.

Adding further fuel to the speculative fire, MicroStrategy's Michael Saylor - arguably corporate America's most vocal Bitcoin evangelist - has been dropping not-so-subtle hints about another impending Bitcoin purchase announcement. When the company responsible for amassing over 200,000 BTC starts making noise during a major Tether mint, the market tends to take notice. The potential convergence of institutional accumulation, fresh stablecoin liquidity, and technical breakout conditions creates a powder keg scenario that could propel prices significantly higher if ignited.

However, looming over this otherwise bullish setup remains the wildcard of Wednesday's CPI data release. Inflation figures have become the single most market-moving economic reports in recent years, capable of either turbocharging risk assets or sending them into temporary retreat. A cooler-than-expected print could validate the market's hopes for imminent Federal Reserve rate cuts, potentially triggering a risk-on frenzy across crypto markets. Conversely, stubbornly high inflation numbers might temporarily derail the breakout thesis until macroeconomic uncertainty clears.

What makes the current situation particularly compelling is the interplay between these fundamental catalysts and Bitcoin's technical posture. The cryptocurrency has been compressing within an increasingly tight range for nearly two weeks - a classic coiling pattern that often precedes explosive moves. With the $108,000 level acting as immediate resistance, a clean breakout above this threshold could open the floodgates for a retest of all-time highs and beyond. Market makers appear to be positioning for exactly this scenario, with order book depth showing substantial liquidity pools building just above current price levels.

As we are all patiently awaiting Wednesday's CPI data, Tether's billion-dollar vote of confidence has set the stage for what could become Bitcoin's next major price discovery phase. Whether this liquidity injection will produce the same explosive results as previous mints - well we just have to wait and see, but the combination of favorable technicals, increasing institutional interest, and growing trading activity suggests the conditions for a significant move are firmly in place.

-Patrick Lewis

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Answer: Great British Pound