The US economy is in “a new bull market,” according to Mike Wilson, Morgan Stanley’s chief US equity strategist.

Wilson says in a new interview with Bloomberg TV that Morgan Stanley believes the economy had been in a three-year rolling recession that ended in April.

“Now we’re in a new bull market and capital markets activity is just another sign that that analysis or that conclusion is probably correct.”

The Morgan Stanley executive believes there could be volatility and drawdowns in the third quarter, but he also thinks that such corrections wouldn’t invalidate the bull market thesis.

“We’ve said that the third quarter, we think this is the best chance we could have for some correction or moderation, if you will. But I want to be very clear, it is still early in the new bull market, so you want to be buying these dips.”

Wilson also outlines what he believes needs to happen for the bull market to continue.

“I think to continue the bull market, you need two things. The ingredients you need [include] positive rate of change on growth. Okay, we have that from an earnings standpoint. And you have a policy that isn’t inhibiting that growth. So both fiscal and monetary policy look like they’re okay. And it appears as if the Fed, maybe they’re not going to cut [rates] in the short term, but all signs point to the next move will be a cut. So you have supportive policy, you have positive rate of change, you have good flow dynamics. I mean, those are all the ingredients you need.”  

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The chief investment officer of crypto asset management firm Bitwise, Matt Hougan, says traditional finance (TradFi) companies are on the hunt for higher returns in the cryptocurrency space.

In a new interview on The Wolf of All Streets, Hougan says that after making “tons of money” in Bitcoin exchange-traded funds (ETFs), TradFi firms are now seeking alternative opportunities in the industry.

“They made all this money. All this money flowed into Bitcoin. The price went up a 140%. And what are they going to do?

They’re going to rotate into like Kellogg’s [stock]? No, they’re going to rotate into Circle and Ethereum and treasury companies. And now ETH treasury companies. And now Solana treasury companies…

It’s going to go all the way. It’s altseason in TradFi for sure.”

The Bitwise CIO says the trend of investing in crypto treasury companies is in an early phase. According to Hougan, the trend is only going to accelerate in the coming months.

“And I know that’s counter to the media narrative, which feels like we’re peak bubble, we’re, you know, March 2000 in the internet. But we’re not. We’re 1998. Like, people are still just getting excited.

The amount of flow that comes through my inbox is incredible. And if you’re bullish about crypto generically, why would you think this trend stops? If I think Bitcoin is going to $200,000, do I think this treasury trend increases or decreases? It’s almost like a self-reinforcing loop until it gets overblown. And I don’t think we’re there yet.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Analysts at the financial giant JPMorgan Chase think Goldman Sachs’ new partnership with BNY is a “significant leap forward” for tokenized money market funds, according to a new Bloomberg report.

Goldman and BNY recently announced a joint venture to launch tokenized money market fund services using a blockchain developed by Goldman.

BlackRock, BNY Investments Dreyfus, Federated Hermes, Fidelity Investments and Goldman Sachs Asset Management all plan to participate in the launch of the new service.

Teresa Ho, a managing director at JPMorgan, tells Bloomberg the partnership could expand the use cases for money market funds.

“The true takeaway from this is beyond the typical way we see money funds being used as a cash management asset class — they can now use it as collateral. Instead of posting cash, or posting Treasuries, you can post money-market shares and not lose interest along the way. It speaks to the versatility of money funds.”

Ho also notes that numerous other financial firms see the potential benefit of tokenization amid blossoming regulatory clarity.

“This is true across banks, asset managers, and payment processors. We wouldn’t be surprised to continue to see more developments with respect to stablecoins being more integrated with the traditional financial system, as well as more tokenization of real-world assets.”

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Fundstrat’s head of research Tom Lee says the stock market is in the midst of a “most hated” rally, with skeptical investors clinging to reasons why the market should fall.

In a new update, Lee says he believes the current surge, which lifted the S&P 500 by 17% from recent lows to within 3% of an all-time high, reflects a powerful but underappreciated rally.

“Part of this [bearish sentiment] is understandable. We had a black swan event on post-tariff liberation day, meaning an unexpected event, and we had a 20% fall in stocks in a very short period of time.”

As for what’s coming next, Lee points to historical patterns where doubt after a market dump led to major rallies.

“When stocks began to rally after March of 2020, many fund managers said we’re still in a bear market.

And recall in the fall of 2022 after the markets made its low in October of 2022, a lot of investors were saying that this was just another bear market rally and investors are about to make a mistake…

But here’s the reality – investors flip bullish as soon as you make an all-time high. So in other words, investors generally fight after a decline. They’ll fight the rally until you make a new all-time high. At a new high, they turn they turn around and become bullish and I think that that’s going to happen as soon as markets make a new all-time high.”

Lee says Bitcoin’s recent all-time high above $111,000 is another leading indicator for the S&P, because Bitcoin peaked about a month before the S&P did and they’re both tracking increased global liquidity.

As for Moody’s downgrade of US government debt from AAA to AA1, Lee says he doubts it’s a negative signal for markets, noting that S&P first downgraded the US in 2011 and Fitch followed in 2023.

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The CEO of the largest asset manager on Earth says that despite the current market volatility and uncertainty, the “mega trends” driving the financial world are still intact.

In a new discussion on CNBC, BlackRock CEO Larry Fink says that the big trends like artificial intelligence (AI), data centers and other cutting edge technology plays are still valid.

However, Fink says that some of those plays may be delayed or changed slightly due to President Trump’s tariffs and the likelihood of a recession.

“I do believe that the mega trends are still with us, whether it’s AI, data centers, infrastructure, the whole reorientation of our economy. So I think the mega force trends are not going to change by what has happened. But maybe the execution of some of these trends may be delayed or may be pushed out longer, but I still remain to be optimistic over the long run. Yes, we have to recalibrate, [and] I do believe we’re probably starting, or if not, in a recession. 

Yes, I think the market is still underestimating how high inflation can get, as you factor in all the tariffs, you factor in all these other issues, it’s going to be quite additive. I read in a report that if you just take the tariffs in the cost of home building, the average new home could be up as much as 26%. We already have a housing affordability problem… 

This is not a pandemic, this is not a financial crisis, this is something that we’ve created… The United States in post-World War II was a global stabilizer. We are 1744541696 the global destabilizer.”

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Solana is now trading below the $100 mark after intense selling pressure swept through the crypto market over the weekend. Sunday’s drop pushed SOL into its lowest price zone in more than a year, signaling a sharp shift in sentiment as fear grips the market. Since the start of March, Solana has lost more than 45% of its value, and momentum suggests the downtrend may not be over yet.

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The breakdown has sparked concern among investors and analysts alike, with many warning that SOL could be headed for deeper lows if current support fails to hold. Top analyst Jason Pizzino shared a technical analysis pointing out that this is the first time in over 12 months that Solana is trading below the $100 level — a historically significant threshold. According to Pizzino, the next major price targets sit at levels levels that would represent an 80% total decline from Solana’s recent highs.

Such moves, while steep, aren’t uncommon during heavy altcoin corrections. With macro uncertainty and broad market weakness driving risk-off behavior, Solana’s path forward will likely depend on whether bulls can reclaim key levels — or if more downside is still to come.

Solana Faces Critical Breakdown As Analysts Eye Deeper Correction

Solana is now undergoing a crucial test as the price trades below $100 for the first time in over a year. Bulls are under pressure to reclaim key levels quickly in order to prevent further downside. However, the broader macroeconomic landscape paints a grim picture. Global markets remain rattled by escalating trade war tensions and policy uncertainty stemming from the U.S. and China, with financial conditions tightening across the board. For high-risk assets like Solana, the backdrop suggests the decline may still have room to continue.

Pizzino has shared a bearish technical outlook that supports this view. He highlights the significance of Solana’s repeated bearish signals using the “3-bar rule.” The first warning appeared in November 2024, followed by another in January 2025.

Now, with SOL firmly trading below $100, Pizzino believes the next targets lie at $80 and potentially sub-$60 — a level that would represent an 80% correction from Solana’s recent highs. While that may seem extreme, such pullbacks are not unusual in major altcoin cycles, particularly when driven by broader market panic.

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For Solana, the path forward hinges on whether bulls can reclaim momentum soon. A push back above the $110–$120 zone could shift sentiment and delay deeper losses. Until then, the market remains on edge.

Solana Bulls Fight to Avoid Further Losses

Solana is currently trading at $100 after briefly dipping to $95 — a price level not seen since February 2024. The sharp correction highlights the intense selling pressure that has taken hold of the market in recent weeks. As fear and uncertainty continue to dominate sentiment, SOL remains vulnerable to deeper losses if bulls fail to step in.

The $100 level is now a psychological and technical battleground. While bulls are attempting to defend it, the broader market context — shaped by global macroeconomic instability and weakening investor confidence — suggests the recovery may face significant resistance. For Solana to regain momentum and signal a possible trend reversal, it must reclaim the $120 zone, which previously served as a key support level.

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However, selling pressure remains strong, and if SOL fails to hold the $100 threshold, a move into lower demand zones becomes increasingly likely. Analysts point to the $80 level as the next critical area where buyers may look to step in. Until then, price action remains fragile, and the downtrend could extend if broader market conditions fail to improve. For now, all eyes are on whether $100 can hold — or break.

Featured image from Dall-E, chart from TradingView 

Bitcoin price started a fresh decline from the $92,000 zone. BTC is back below $85,500 and might continue to move down below $80,000.

• Bitcoin started a fresh decline below the $85,000 zone.
• The price is trading below $85,000 and the 100 hourly Simple moving average.
• There is a short-term bearish trend line forming with resistance at $83,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
• The pair could start another decline if it fails to clear the $80,000 resistance zone.

Bitcoin Price Faces Resistance

Bitcoin price started a fresh decline below the $88,000 level. BTC traded below the $86,000 and $85,000 support levels. Finally, the price tested the $80,000 support zone.

A low was formed at $80,006 and the price recently started a recovery wave. There was a move above the $80,500 and $81,200 resistance levels. The bulls pushed the price toward the 23.6% Fib retracement level of the downward move from the $91,060 swing high to the $80,006 low.

Bitcoin price is now trading below $85,000 and the 100 hourly Simple moving average. On the upside, immediate resistance is near the $82,700 level. The first key resistance is near the $83,000 level.

There is also a short-term bearish trend line forming with resistance at $83,200 on the hourly chart of the BTC/USD pair. The next key resistance could be $85,000. It is near the 50% Fib retracement level of the downward move from the $91,060 swing high to the $80,006 low.

A close above the $85,000 resistance might send the price further higher. In the stated case, the price could rise and test the $87,500 resistance level. Any more gains might send the price toward the $90,000 level or even $96,200.

Another Decline In BTC?

If Bitcoin fails to rise above the $83,000 resistance zone, it could start a fresh decline. Immediate support on the downside is near the $81,000 level. The first major support is near the $80,200 level.

The next support is now near the $80,000 zone. Any more losses might send the price toward the $78,000 support in the near term. The main support sits at $75,000.

Technical indicators:

Hourly MACD – The MACD is now losing pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $80,000, followed by $78,000.

Major Resistance Levels – $83,000 and $85,000.