Summing Up The Week

While there were mediocre news reports with economic datapoints this week, the real news was President Donald Trump announcing his “massive” trade deal with Japan on Tuesday evening. This sent stocks rallying to new record-breaking all-time highs on a day-by-day basis.

There’s seemingly nothing that can upset this Bull Market!

With that, let’s take a deeper dive into the news that moved the markets this week and what we can expect from next week…

Market News

Trump announces “massive” trade deal with Japan

On Tuesday evening, President Donald Trump announced a “massive” trade deal with Japan which would set tariffs at 15%, reported CNBC. 

In a post on Truth Social, Trump called the agreement “perhaps the largest Deal ever made,” adding that Japan would invest $550 billion in the United States and the U.S. would “receive 90% of the Profits.”

Following Trump’s post, Japanese Prime Minister Shigeru Ishiba said that auto tariffs on Tokyo will be lowered to 15% — from the current 25% that is levied across countries — as part of the deal, Reuters reported. Auto exports to the U.S. are a significant part of Japan’s entire economy, making up 28.3% of all shipments in 2024 according to CNBC.

As a result of the announcement, stocks saw a pop during Wednesday trading.

Next Week’s Gameplan

We have lots of potential catalysts rolling in next week starting with consumer confidence numbers on Tuesday. On Wednesday, we get the ADP employment report as well as the results of the next Federal Reserve meeting where the market consensus is that the Fed will leave interest rates unchanged, much to President Trump’s chagrin.

However, we’re not done, yet, with two more whoppers back-loaded to the end of the week. On Thursday, we get the Personal Consumption Expenditures (PCE) index, the Fed’s preferred gauge of inflation, and, then, on Friday, the “all-important” payroll report for July!

And, that’s just the news catalysts – we’ve also got earnings all over the place from major companies!

Here are my holdings reporting next week:

• Monday: Tilray Brands (TLRY) reports Before Market Open (BMO). Waste Management (WM) reports After Market Close (AMC). 
• Tuesday: SoFi Technologies (SOFI) reports BMO. Boeing (BA), Logitech (LOGI), and Visa (V) report AMC.
• Wednesday: Arm Holdings (ARM),  Meta Platforms (META), Microsoft (MSFT), and Robinhood (HOOD) report AMC.
• Thursday: Cameco (CCJ) and Roblox (RBLX) report BMO. Apple (AAPL), Amazon (AMZN), and Coinbase (COIN) report AMC.
• Friday: Chevron (CVX) reports BMO.

So, next week promises to be a BIG one just from what we know will be happening; imagine how exciting it could get if something UNKNOWN happens! 

And, as always, I’ll meet you back here next Friday to give you the entire rundown, friends!

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Crytpo Corner

Bitcoin Price Action

Two Narratives, One Coin: Bitcoin’s Next Move Will Shock You

Bitcoin spent the past week consolidating in a range with lower highs and higher lows… until Friday. On Tuesday, Bitcoin made lower weekly-high on at $120,300.00 before breaking down Friday morning, cracking through last week’s low at $116,185.00 and not finding support until $114,750.00.

The Bullish Case

Bulls believe this price consolidation is simply a digestion of a huge move before Bitcoin continues its bull thrust to higher highs. Some Bulls believe Bitcoin’s next breakout will take it to $150,000 with more conservative Bulls targeting $135,000. Regardless, if the Bulls are right and this consolidation breaks Bullish, Bitcoin will definitely be breaking above its current all-time high at $123,231.07.

The Bearish Case

Bears argue that Bitcoin’s inability to maintain its upward momentum for more than a week now indicates that buyers are losing their appetites to buy more. As a result, Bears are predicting a substantial pullback. Naturally, the most Bearish of Bears believe Bitcoin will be heading much lower with some predicting tests of the April selloff low at $74,420.69.

However, more realistic buying targets could be calculated using a Fibonacci Retracement off the June low down at $98,225.01 which would give us the following potential pullback levels:

• 38.20%: $113,004.03

• 50.00%: $110,019.88

• 61.80%: $107,114.53

• 78.60%: $103,109.98

Bitcoin Trade Update

Premium subscribers to Get Irked get access to all the moves I’ve made in my Bitcoin trade over the past week as well as my next thirty (30) … yes, 30 … buys in Bitcoin including price levels, quantities, and a full layout of my ongoing long-term trade in the world’s biggest crypto.

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Not Your Keys, Not Your Crypto…

In light of brokerage failures in 2022, I no longer keep any of my crypto on an exchange and I only keep enough USD on the exchanges I use to execute my next few buys. I use multiple cold wallets from the brands Ledger and Trezor to hold my crypto (click the links to access the direct sites, and I receive no affiliate benefits from these links).

Additionally, I have now divided my allocated USD between two different exchanges – Gemini and Coinbase – in case one (or both) becomes insolvent. Disclaimer: We both receive a bonus if you use my Gemini referral link to open an account.

I do not trust anyone in the space, even with Coinbase (COIN) being publicly traded (and one of my own Investments in Play positions).

No price target is unrealistic in the cryptocurrency space – Bullish or Bearish.

While traditional stock market investors and traders may think the price targets in the cryptocurrency space are outlandish due to the incredible spread (possible moves include drops of -90% or more and gains of +1000% or more), Bitcoin has demonstrated that, more than any speculative asset, its price is capable of doing anything.

Here are some of Bitcoin’s price movements over the past couple of years:

• In 2017, Bitcoin rose +2,707% from its January low of $734.64 to make an all-time high of $19,891.99 in December.
• Then, Bitcoin crashed nearly -85% from its high to a December 2018 low of $3128.89.
• In the first half of 2019, Bitcoin rallied +343% to $13,868.44.
• In December, Bitcoin crashed -54% to a low of $6430.00 in December 2019.
• In February 2020, Bitcoin rallied +64% to $10,522.51.
• In March , Bitcoin crashed nearly -63% to a low of $3858.00, mostly in 24 hours.
• Then, Bitcoin rallied +988% to a new all-time high of $41,986.37 in January 2021.
• Later in January 2021, Bitcoin dropped -32% to a low of $28,732.00.
• In February, Bitcoin rallied +103% to a new all-time high of $58,367.00.
• Later in February, Bitcoin dropped -26% to a low of $43,016.00.
• In April , Bitcoin rallied +51% to a new all-time high of $64,896.75.
• In June , Bitcoin crashed -56% to a low of $28,800.00.
• In November, Bitcoin rallied +140% to a new all-time high of $69,000.00.
• In November 2022, Bitcoin crashed -78% to a low of $15,460.00.
• In April 2023, Bitcoin rallied +101% to a high of $31,050.00.
• In June, Bitcoin dropped -20% to a low of $24,750.00
• In July, Bitcoin rallied +29% to a high of $31,862.21.
• In September, Bitcoin dropped -22% to a low of $24,900.00.
• In January 2024, Bitcoin rallied +97% to a high of $49,102.29.
• Later in January, Bitcoin dropped -22% to a low of $38,501.00.
• In March, Bitcoin rallied +92% to a new all-time high of $73,835.57.
• In August, Bitcoin dropped -33% to a low of $49,050.01.
• In January 2025, Bitcoin rallied +150% to a new all-time high of $109,358.01.
• In April, Bitcoin dropped -32% to a low of $74,420.69.
• In May, Bitcoin rallied +51% to a new all-time high of $112,000.00.
• In June, Bitcoin dropped -12% to a low of $98,247.01.
• In July, Bitcoin rallied +25% to a new all-time high of $123,231.07.

Where will Bitcoin go from here? Truly, anything is possible…

What if Bitcoin’s headed to zero?

DISCLAIMER: Anyone considering speculating in the crypto sector should only do so with funds they are prepared to lose completely. All interested individuals should consult a professional financial adviser to see if speculation is right for them. No Get Irked contributor is a financial professional of any kind.