Core Insights - C3.ai, Inc. reported mixed results for Q2 of fiscal 2026, with earnings and revenues surpassing estimates but declining significantly year over year [1][5] Financial Performance - The company incurred an adjusted loss per share of 25 cents, which was better than the consensus estimate of a loss of 32 cents, but worse than the adjusted loss of 6 cents reported in the same quarter last year [5] - Revenues for the quarter were $75.15 million, slightly above the consensus estimate of $75.14 million, but down 20.3% from the previous year [5] - Subscription revenues decreased to $70.2 million from $81.2 million year over year, while professional services revenues fell sharply by 62.8% to $4.9 million [6] Operational Challenges - The quarterly performance was negatively impacted by a 43-day government shutdown, which disrupted federal workflows and elongated sales cycles across various sectors [2] - Softer contributions from Subscription and Professional Services businesses, along with elevated operating expenses, further pressured the bottom line [3] Strengths and Future Outlook - The Federal segment showed resilience, with bookings in Federal, Defense, and Aerospace rising 89% year over year, accounting for 45% of total bookings [4] - The company anticipates revenues for Q3 of fiscal 2026 to be between $72 million and $80 million, reflecting a decline of 19% to 27% from $98.8 million reported in the same quarter last year [9] - For the full fiscal year 2026, C3.ai expects revenues to be between $289.5 million and $309.5 million, indicating a decline of 20% to 26% from the previous year [11]

Group 1: Gold Market Insights - Gold prices are up nearly 1% and are trading at $4,262.35, just 2.95% below the record high of $4,381.44, indicating strong demand for the precious metal [1] - The rise in gold prices is attributed to growing caution among investors and rising expectations for a potential rate cut by the Federal Reserve in December [3] - Speculation that the next Federal Reserve chair may adopt a more dovish stance is further fueling demand for gold [3] Group 2: Cryptocurrency Market Dynamics - Bitcoin's recent crash has led to a decline in the total cryptocurrency market cap by over 6%, dropping from $3.191 trillion to $3.016 trillion, with Bitcoin trading just under $86,000 [2] - The S&P 500 index is down 0.5% in premarket trading, reflecting bearish sentiment among U.S. equity investors [2] Group 3: Federal Reserve and Economic Indicators - The odds of a quarter-point rate hike in December are around 88%, but investor caution persists due to data gaps following the government shutdown [4] - Prediction markets assign an 86% chance of a 25 basis point rate cut in December, while the likelihood of Jerome Powell exiting the Fed Chair by year-end is only 9% [4] - Analysts suggest that upcoming economic reports, such as the ADP employment report and core PCE data, will provide clearer signals regarding the Fed's next steps [5]

Core Viewpoint - The BDC (Business Development Company) sector is facing caution due to macroeconomic uncertainty and declining interest rates, which, while making BDCs more attractive from a valuation perspective, suggests a need for careful consideration by investors [1]. Group 1 - The current macroeconomic environment is characterized by uncertainty and falling interest rates, impacting the attractiveness of BDCs [1]. - Despite the valuation appeal of BDCs, a cautious approach is recommended for investors [1]. - The article emphasizes the importance of conducting due diligence before making investment decisions [1].

Market Trends & Regulatory Landscape - December Fed cut odds collapsed to 29.8% due to delayed jobs data and macro uncertainty [1] - Trump's CFTC nominee, Mike Selig, intends to champion a clear regulatory path for the U S [1] Investment Activities - Ark Invest bought the dip, investing $39.6 million into crypto stocks like Circle and BitMine [1] Media & Sponsorship - "CoinDesk Daily" is hosted by @JennSanasie [1] - Figure Markets sponsors the CoinDesk Media Network [1]

Core Insights - Bitcoin experienced a significant year, but losses towards the end overshadowed the earlier months of innovation and regulatory support [1] - As of November 18, macroeconomic uncertainty has impacted the market [1] Summary by Categories Market Performance - Bitcoin had a massive year with notable gains, but recent losses have raised concerns [1] - The end-of-year losses have overshadowed the impressive performance in the preceding months [1] Innovation and Regulation - The earlier months of the year were characterized by innovation and favorable regulatory developments [1] - Regulatory tailwinds contributed positively to the market dynamics during the year [1] Macroeconomic Factors - As of mid-November, macroeconomic uncertainty is affecting investor sentiment and market stability [1]

Core Insights - The crypto market sentiment has sharply declined, with the Fear & Greed Index dropping to 10, indicating "extreme fear," marking a near nine-month low [1] - Bitcoin has experienced significant losses, trading just under $96,000, and has fallen below the $100,000 mark for the second time this month [1][2] - The wider crypto market, as measured by the CoinDesk 20 index, has lost approximately 5.8% of its value over the past week [2] Market Dynamics - The sell-off is attributed to profit-taking by long-term holders, institutional outflows, macroeconomic uncertainty, and the liquidation of leveraged long positions [3] - There are diminishing expectations for an interest rate cut from the Federal Reserve, with the odds of a 25 basis point cut now near 50% according to the CME's FedWatch tool [3] - Recent delays in the release of key economic indicators, including October inflation, due to a government shutdown have left traders with less macro data to analyze [4] Liquidity Concerns - The crypto market is facing low liquidity, which has not fully recovered from the major crash in October, resulting in structurally lower order-book depth across major centralized exchanges [4]

Core Insights - Bitcoin experienced a significant pullback primarily due to short selling, with a drop of 1.5% from $115,000, leading to a total open interest increase of 2.3% and an additional $591 million in notional value [1] - The cumulative volume delta of perpetual futures on offshore exchanges decreased, indicating that short sellers were driving the decline, with a subsequent 3.5% drop to $107,500 and a 4% increase in open interest adding $1.03 billion in exposure [2] - Despite the overall bearish sentiment, spot demand on U.S.-based exchanges like Coinbase remained mostly positive, suggesting ongoing buy-the-dip activity from spot investors [3] Market Dynamics - A liquidation event of $724 million occurred within 24 hours, with long positions accounting for $536 million, indicating that bulls had leveraged up in anticipation of a recovery [4] - The market is facing macroeconomic uncertainty and rising geopolitical tensions, contributing to the volatility and the need for a period of rebalancing [4][5] - Analysts express a bearish outlook, with expectations of continued volatility as macro uncertainties persist, despite some dip-buying efforts from spot investors [5]

Since that episode, markets staged a short-lived bounce, but momentum has turned again.Macro uncertainty is back: S&P and Nasdaq rebounded 2%+, yet Asian equities slid >2%.BTC failed to hold above key SMAs (~$117k/$116k) and is testing support near $109k, with funding rates flipping negative as derivatives unwind continues.2/3 ...

Group 1 - The political landscape, particularly President Trump's choice for the next Federal Reserve Chair, could significantly influence the cryptocurrency cycle, making predictions more challenging [1][2] - CEO Mike Novogratz of Galaxy Digital Inc. indicated that a selection favoring aggressive interest rate cuts could initiate a substantial upward trend in cryptocurrency prices [2][4] - Novogratz highlighted the current macroeconomic uncertainty, exacerbated by the potential impact of artificial intelligence, complicating the ability to predict market cycles [3] Group 2 - Stephen Miran, a new Fed governor appointed by Trump, has called for aggressive interest rate cuts, which contrasts with the views of other Federal Open Market Committee (FOMC) members [4] - Trump has been critical of current Fed Chair Jerome Powell for maintaining high interest rates, advocating for cuts to support economic growth [4] - Cryptocurrency bettors on Polymarket estimate a 21% chance that Trump will appoint Christopher Waller as a "shadow chair" before the end of the year [5]

Group 1 - Key Federal Reserve data, including speeches from Chair Jerome Powell and PCE inflation figures, are influencing the crypto market dynamics [1] - Bitcoin's price trajectory is uncertain, with analysts divided on whether it will retrace to $107K or break out above $130K, amid macroeconomic uncertainties [2] - The St. Louis Fed President expressed concerns about further rate cuts, indicating inflation remains above the Fed's 2% target, which could impact risk assets [3] Group 2 - Market reactions included a stronger dollar and rising Treasury yields, leading to reduced expectations for a November rate cut, while Bitcoin's price fell to $111,800 [4] - Over 407,000 traders faced liquidations as Bitcoin dropped below $112,000, marking significant market activity and skepticism regarding portfolio expansion [5] - Analysts suggest Bitcoin is at a critical inflection point, with sustained closes below $112,000 risking a drop to $107,000, which is a key support level [6] Group 3 - Recent liquidations, while painful in the short term, may serve as a healthy market rebalancing, with some investors viewing the pullback as an opportunity for accumulation [7]