Daily Market Report #798 TLDR Only 2 World Cup matches remain, and then we wait another 4 years. Macro is showing more cracks. Japan’s Nikkei entered a correction, falling more than 10% from its June high and wiping out around $400B. Oil remains elevated at $79.11 because of Hormuz. Gold slipped below $4,000 to $3,981, while silver fell to $55.17. Two soft inflation prints helped crypto this week, but the war and oil prices remain the risks that could reverse the move. $BTC is at $63,439, down 1.8%, giving back part of the CPI breakout. $ETH is at $1,849, down 3.6%, after reaching $1,924 yesterday. Most liquidations came from longs, while open interest dropped sharply across both assets. This looks more like leverage being removed than genuine spot selling, which is healthier than it appears. Fear & Greed is at 27. Trump is also meeting senators to push the CLARITY Act forward. $HYPE took the biggest hit in my universe, falling 9.5% to $60.01 as usage also showed signs of slowing. $ARB is holding around $0.0891 after its unlock passed without destroying the price. Vlad said Robinhood Chain should make RWAs programmable and portable, rather than becoming another memecoin casino. Meanwhile, Base is abandoning its social-app strategy and returning its focus to finance. Blockchain companies keep using gambling to generate volume and then claiming they are building the future of finance. $ZEC is at $539, down 5%, finally taking a breather after leading my universe for a month. $XMR remains steady at $331. $TAO is back below $200 at $192. $LINK is at $8.28. $SOL is at $75.19, still stuck near its lows despite Solana reaching 300,000 RWA holders. Ostium was also exploited for $18M on Arbitrum. In AI, semiconductor stocks are down 16% from their highs, while Morgan Stanley says $286B in planned data-centre projects have been cancelled since 2025. The build-everything-at-any-cost phase is meeting reality. Anthropic could go public as early as October, while X plans to open-source its codebase and Thinking Machines released a 1-trillion-parameter open-source model. What are you watching?