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L’animateur de « Mad Money », Jim Cramer, affirme que le Trésor à 30 ans, et non les fondamentaux de l’entreprise, est désormais la force unique qui pilote les cours des actions. Il pointe un rendement proche de 5,3 % qui comprime le secteur du logement, renchérit les coûts d’emprunt et pèse sur la valorisation des actions.
Cramer a rappelé une leçon tirée de ses débuts chez Goldman Sachs. Un formateur a corrigé son analyse fondée sur les fondamentaux à propos de Delta Air Lines en lui faisant remarquer le long terme, c’est-à-dire l’obligation à longue échéance.
Pourquoi la « Long Bond » dépasse désormais les fondamentaux
Cramer a fait valoir qu’un rendement de 5,3 % garanti par l’État offre aux investisseurs une alternative plus sûre aux actions. Cette pression oblige déjà des secteurs très gourmands en capitaux, comme les compagnies aériennes, à se battre pour obtenir des financements.

Coinbase CEO Brian Armstrong still expects Bitcoin (BTC) to reach $400,000 by 2030, a target that now demands a 420% rally from roughly $76,930.
The forecast arrives during a volatile stretch for Bitcoin. The largest cryptocurrency has fallen 5.4% over the past 7 days and sits about 39% below its October 2025 record of over $126,000.
Bitcoin (BTC) 7-day Price Performance. Source: BeInCrypto Markets Armstrong Reads the Clock, Not the Chart
In an interview with CNBC, Armstrong explained that Bitcoin moves through four-year cycles of run-up, euphoria, and decline. Most down periods last roughly a year, and this one has just passed that mark.
“Most of the down periods last about a year, and we have actually just come across the 1-year mark for this down period, so I personally believe that the bottom is in on BTC in its most recent cycle,” he said.
He flagged two key events. According to him, traders will watch the CLARITY Act, which faces a procedural vote in the Senate on September 15.
The second is the next halving, about 18-19 months away. Armstrong expects the usual run-up ahead of it.
“I think the next year or two is going to be good for Bitcoin,” he added.
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The Front-Running Trade Does the Heavy Lifting
Analyst Jesse Myers sees the same clock. He noted that Bitcoin rallied roughly 100x after the 2012 halving, 30x after the 2016 halving, and 8x after the 2020 halving, before traders began front-running the event in 2024.
“If the same pattern plays out this cycle, the next 1.6 years could be the most explosive time for BTC,” Myers wrote.
Repeating the last cycle would carry Bitcoin 4x from its $58,000 bottom to $232,000 by the April 2028 halving, then 2x to $464,000 in the second half of 2029. That path clears Armstrong’s number with room to spare.
Bitcoin Demand Has Not Caught Up Yet
Nonetheless, those projections rest on a market that is not buying Bitcoin right now. The 90-day cumulative volume delta for spot markets sits neutral, with futures traders driving the recent rebound.
Institutional flows now look shakier, too. US spot Bitcoin exchange-traded funds (ETFs) pulled in $986.9 million in the week ended September 4, extending a three-week run worth about $3.8 billion.
Weekly Total Bitcoin Spot ETF Net Flows. Source: SoSoValue
That streak is under threat. The current week shows $166.9 million in net outflows. Another negative print would snap the three-week run.
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Wharton School finance professor Jeremy Siegel said he expects the Federal Reserve to raise interest rates next week, as oil prices and long-term bond yields keep climbing.
Siegel told CNBC’s “Closing Bell” that holding rates steady would risk the credibility of Fed Chair Kevin Warsh, who took over the central bank in May 2026.
Fed’s Warsh Faces a Credibility Test
Siegel said financial markets routinely test new Fed chairs, and called next week’s meeting that test for Warsh. Even so, he said, President Donald Trump has pushed publicly for lower rates.
“I think he’s going to bite the bullet and raise rates because if he doesn’t raise rates, I think there might be four or five or maybe six dissents, which would be unprecedented,” Siegel said.
He pointed to Fed Governor Christopher Waller’s inflation threshold. A monthly core reading near 0.2% could support a hold, Siegel said. A 0.3% print, he added, would tilt the committee toward a hike.
Warsh’s hawkish Jackson Hole speech last month already pushed hike odds higher. The 10-year Treasury yield has since climbed toward 4.90%, its highest level since 2023. Brent crude, meanwhile, has pushed past $100 a barrel.
Fresh inflation data lands just before the Fed meets. Siegel said this week’s consumer price index report could still shift the committee’s thinking either way.
A Selloff, Then a Recovery
Siegel predicted markets would react sharply and sell off immediately after a hike announcement. He then expects long-term bonds to rally as investors view the Fed as credible on inflation, lifting stocks in turn.
Rising energy costs remain the bigger near-term risk to sentiment, Siegel said. Gasoline futures could climb another 20 to 30 cents, pressuring consumers this fall.
Siegel expects stocks to stay rangebound over the next few weeks. He pointed to the next earnings cycle, once the quarter closes, as the market’s following catalyst.

IREN Limited (IREN) shares fell 3.3% on Thursday to $43.87, even as co-CEO Daniel Roberts told investors the company had just passed its hardest operational test.
Roberts published a readout from two days of investor meetings at Goldman Sachs’ technology conference in San Francisco. He said the market has stopped paying for contract announcements and now wants delivered capacity.
Why Mega-Deal Headlines Stopped Working
IREN started as a Bitcoin miner, but it now builds data centers and rents the computing power inside them to companies training AI models, a shift that has lifted several miner stocks this year.
IREN Stock Performance. Source: Yahoo Finance
Roberts said in an X post that investors have grown numb to deals worth $20 billion to $40 billion. For customers, such contracts are a cheap option on capacity. For young providers, they are a way to raise money. Neither guarantees anything gets built.
The question he called the fairest of the week was whether IREN can run a cloud business at scale, not simply pour concrete.
Goldman's CommTech conference, San Francisco. 48 hours of @IREN_Ltd investor meetings, and the mood has shifted meaningfully.Key takeaways:
— Daniel Roberts (@danroberts0101) September 10, 2026
The $1 Billion Question Behind the Drop
IREN booked $70.5 million of AI cloud revenue in the June quarter. It also claims roughly $1 billion of operating annualized run rate, meaning the revenue current contracts would produce over a full year.
A further $4 billion is contracted for 2026 capacity. None of that lands in reported revenue until sites switch on and customers formally accept them.
“The biggest debate on our stock: the gap between $71m of quarterly AI Cloud revenue and $1bn of ARR operating, $4bn contracted for year end. Is it real, and will we deliver? Some disappointment with last quarter traces to ramp assumptions that ran ahead of anything we guided. That’s on us to manage better. Specific sites, tighter windows,” Roberts noted.
Microsoft accepted the first block, a 50 megawatt site called Horizon 1, in August under a $9.7 billion five year agreement. Three more are due before year end.
Meanwhile, ten analysts still carry an average target of $75.67, roughly 72% above Thursday’s price.
IREN (IREN) Stock Forecast & Price Target. Source: TipRanks
BeInCrypto flagged $47 in July as the level IREN had to reclaim to confirm the AI trade. The stock ran to $45.37 on Thursday morning and faded, leaving that ceiling untouched two months later.

Republican officials are struggling to address rising borrowing costs and interest rates as the 10-year Treasury yield holds near a three-year high, just weeks before the November midterms.
President Donald Trump spoke at the Republican National Committee’s (RNC) midterm convention in Dallas this week. He promised a $5,000 payment to every American adult if Republicans keep the House and Senate.
Why Rising Rates Are Becoming a Midterm Problem
The 10-year Treasury yield is trading near 4.85%, its highest level since 2023. That is pressuring mortgage, auto loan, and credit card rates nationwide, as yields hit multi-year highs this month.
Rising oil prices and mounting fiscal deficits are among the factors keeping yields elevated. Foreign buyers reducing Treasury purchases add further pressure heading into the Federal Reserve’s next policy meeting.
Total US government debt surpassed $40 trillion for the first time this year. It now sits at $40.1 trillion, up $2.67 trillion from a year ago, deepening the same borrowing cost pressure many households already feel.
Republicans Tread Carefully Around Trump
At the RNC’s midterm convention in Dallas, speakers largely avoided criticizing Trump directly over rate concerns. Bloomberg’s Josh Wingrove reported the dynamic firsthand.
Some Republicans, however, blamed past migration policy for housing costs or promised unspecified healthcare savings.
Florida Governor Ron DeSantis pushed back on the dividend plan on Thursday. He said it would deepen debt and inflation.
It signals unease even among Trump allies over the plan’s fiscal cost.
Trump’s national approval rating has slipped to roughly 38%, according to poll aggregator Silver Bulletin. Republicans also face a tightening Texas Senate race, per BeInCrypto’s midterm odds coverage.
Trump has urged supporters to vote as if he were on the ballot himself. He remains wary of turnout without his name at the top, in a midterm cycle where Republicans have historically struggled.
Whether rising rates complicate that pitch further should become clearer as more polling and convention coverage arrive in coming weeks.

FTX co-founder Sam Bankman-Fried (SBF) asked the US Supreme Court on Thursday to review his 2023 fraud conviction and 25-year sentence, the last legal door left open to him.
His lawyer, Stanford law professor Jeffrey Fisher, confirmed the filing. The justices are free to refuse it without hearing a word of argument.
What SBF is Asking the Justices to Do
The filing seeks a writ of certiorari. That is a request for the court to agree to hear a case, not a hearing itself. Bloomberg reported the news, but it had not appeared on the court’s public docket at the time of writing.
A jury convicted Bankman-Fried in November 2023 over the collapse of FTX and Alameda Research. Judge Lewis Kaplan imposed a 25-year sentence and a $11 billion forfeiture the following March.
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Why the June Ruling Left So Little Room
The Second Circuit Court of Appeals rejected his appeal on June 12. Circuit Judge Barrington Parker wrote that the trial judge was right to exclude evidence that FTX could have repaid its customers.
“FTX customers were defrauded as soon as Bankman-Fried transferred their money to Alameda regardless of how strongly he believed he might later return the money,” Aljazeera reported.
BeInCrypto flagged the deadline in August, when the Second Circuit mandate issued and left a 90-day window for a Supreme Court petition. Thursday’s filing lands inside it.
What It Means for FTX Creditors
Nothing in this petition touches the money. The bankruptcy estate runs separately from the criminal case, and FTX creditor repayments continue regardless of what the justices decide.
That separation matters to his argument. Many customer classes have recovered their full claims valued at November 2022 prices, yet the appeals court held that later repayment does not erase the original deception.
The court receives several thousand petitions each term and grants only a low single-digit share. Most refusals arrive as one line on an order list, months later, with no reasoning attached.
His pending pardon application is the other track, and it has not moved either.
Odds of SBF Pardon in 2026. Source: Polymarket
Polymarket traders now price a 2% chance he walks free in 2026, down from 7% when he filed for clemency in June.

Analyst Ben Cowen warns a looming Anthropic initial public offering (IPO) could drain attention from Bitcoin (BTC). He says the asset is already fighting to extend its recent rebound.
The Into The Cryptoverse founder pointed to Bitcoin’s pullback ahead of SpaceX’s June listing as a precedent. He argued a similar rotation into artificial intelligence (AI) stocks could repeat.
Anthropic’s IPO Echoes the SpaceX Playbook
Anthropic, the AI company behind the Claude chatbot, confidentially filed IPO paperwork in June. It is reportedly targeting a listing window as early as this fall. Some estimates value the company near $2 trillion.
Cowen argued a similar dynamic hit Bitcoin before SpaceX went public. He said the asset sold off in the weeks before that listing as investor interest shifted toward AI-linked equities.
“We now have the anthropic IPO coming up probably in a month or two.”
Cowen made the comment in the same video where he tallies Bitcoin’s bull and bear signals. That scorecard includes his $53,000 realized price warning, a level he has flagged before.
Bitcoin’s Rally is Stalling
Bitcoin traded near $76,966, down 1.73% over the past 24 hours, according to BeInCrypto data. Banks are also pushing Anthropic and OpenAI toward investment grade credit ratings ahead of their IPOs. That effort signals how close Wall Street believes the listings are.
Bitcoin has broken through to near $83,000 since its August Rally, but the asset has struggled to stay above the $80,000 in recent weeks.
Cowen’s broader point is that momentum is finite. If retail and institutional attention concentrates on AI listings this fall, Bitcoin could lose momentum. A sustained rally typically needs that same speculative interest.
Whether that rotation happens may depend on how close Anthropic’s listing lands to Bitcoin’s next price test.

Dan Ives says software stocks have earned their clearest buy signal in months. Oracle’s latest earnings marked a turning point for a sector many investors had shunned.
Ives, a partner and senior managing director at Yorkville Ives, made the comments on CNBC’s Fast Money. He said institutional investors have to rotate back into software, pointing to Oracle, Adobe, Palantir and Snowflake.
Investors “Caught Offsides” as Sentiment Shifts
Ives argued Wall Street had underpriced Oracle’s backlog. He said the street assumed a 50% to 60% chance the backlog never converts to revenue. That conversion depends on Oracle building out enough data center capacity to meet demand from its cloud and AI customers.
“This is a penalty box stock.”
Dan Ives, CNBC
He added that one strong quarter will not be enough. Oracle needs to show follow-through before the market fully re-rates the stock. Investors will not give the company credit for one earnings beat after months of skepticism.
Software Has Similarities to Semicinductors
Ives drew a contrast with semiconductors, where he remains more confident. He pointed to a 13-to-1 demand-to-supply ratio in Asian chip markets.
He said that leaves Nvidia the safer bet over AMD or Intel as they try to close the gap. That caution echoes a broader debate around chipmaker earnings reactions, where sentiment has swung sharply on any sign of slowing demand.
Software’s rebound follows a rough stretch. The sector had lagged for months on AI-driven fears before a string of software earnings turnarounds changed the narrative.
Ives said the shift is now visible across the software trade, not just at a single company.
Ives stopped short of declaring an outright buy signal, though.
“It’s like a lime green actually.”
Dan Ives, CNBC
The distinction matters. Ives is describing a sector still proving itself, not one investors should chase blindly. Whether that lime green deepens may hinge on Oracle’s follow-through in coming quarters.

Une demande de subvention a été soumise à Claude. Son filtre de sécurité l’a détectée et l’a refusée. Quelques jours plus tard, le même opérateur était de retour et les instructions refusées auraient été diffusées vers un modèle d’IA concurrent.
Anthropic a publié cette histoire à son sujet, révélant un cas où une entreprise d’IA montrait ses propres modèles en train de s’intéresser à des travaux potentiellement liés à des armes biologiques.
La subvention qui a été bloquée
La demande sollicitait de l’argent pour étudier le chikungunya, un virus transmis par les moustiques qui provoque des mois de douleur et n’a aucun traitement. Le plan consistait à l’aider à mieux se propager et à esquiver le système immunitaire. Des scientifiques civils l’ont rédigé. Un institut militaire devait accueillir les travaux.

David Schwartz, le concepteur de longue date du XRP Ledger et ancien directeur technique (Chief Technology Officer) de Ripple, a déclaré publiquement cette semaine que le XRP pourrait un jour dépasser Bitcoin en termes de capitalisation boursière.
Lors d’une récente discussion sur X Spaces, Schwartz a répondu à une question directe sur la possibilité d’un tel « flippening ». « Oui, je pense », a-t-il répondu, en ajoutant une mise en garde importante.
Angie a demandé : « David, à votre humble avis, pensez-vous que le XRP pourrait réellement faire basculer Bitcoin ? » pic.twitter.com/InhjVrM6Gv
— Vet (@Vet_X0) 9 septembre 2026

Bitwise ferme son fonds négocié en bourse (ETF) sur le Dogecoin, BWOW, moins de 10 mois après son lancement. Le fonds a attiré si peu d’argent que le maintenir coté n’avait plus de sens.
Le trading se termine le 14 octobre, et les investisseurs qui conservent leurs parts sont payés en espèces le 22 octobre, en fonction de la valeur du fonds la veille. Ils n’ont rien à faire.
Un fonds qui n’a jamais trouvé d’acheteurs
Un ETF spot sur le Dogecoin détient de vrais Dogecoin (DOGE), permettant aux gens de posséder la monnaie mème via un compte de courtage ordinaire.
BWOW a été lancé le 25 novembre 2025 et facturait 0,34 % par an. C’était alors le moins cher des trois fonds américains spot sur le Dogecoin. Le fait d’être le moins cher n’a pas aidé.

Donald Trump essaie-t-il d’acheter les élections de mi-mandat aux États-Unis ? Il a promis à chaque Américain 5 000 $ si les Républicains gagnent en novembre. Mais il y a beaucoup plus de nuances.
Lors de la convention du GOP à Dallas, Trump a promis à chaque adulte américain un « Trump Dividend » si les Républicains conservent le contrôle du Congrès en novembre. Le projet de loi coûterait environ 1,2 billion de dollars.
À en croire la rumeur, cela semble illégal, mais Trump est loin d’être le premier président à lier le résultat d’une élection à de l’argent versé sur les comptes bancaires des électeurs.
Et à chaque fois que cela s’est produit dans le passé, les marchés financiers, y compris les cryptomonnaies, ont réagi.

A software engineer built talking copies of Elon Musk, Sam Altman, Mark Zuckerberg, and Dario Amodei. Then he put all four in one chat room and told them to debate.
It did not take long to turn personal. In real life, none of the four men knew it was happening.
The Ghosts in the Room
Kun Chen was a senior engineer at Meta, Microsoft, and Atlassian. He now builds AI assistants. The builder reportedly fed a machine everything he himself had said in public and told the AI to think like him. He calls this distillation.
Chen did the same to four men: Elon Musk, Sam Altman, Dario Amodei, and Mark Zuckerberg. The AI personas debated as they would in real life; they agreed on almost nothing.
Chen reveals feeding their Senate testimony, interviews, and years of posts into Grok, the chatbot built by xAI. He gave them one instruction.
“hey guys, i know you aren’t all friends but unfortunately you are now in this room together for a heated debate on who’s going to win the AI race,” Kun Chen wrote in the published transcript.
hehe i distilled @sama, @elonmusk, @DarioAmodei and @finkd into grok bots based on their senate hearings, interviews, blogs and tweets over the yearsthen i dragged them into a group chat and asked them to reach consensus about AI 😆 and.. they did! full debate shared below! pic.twitter.com/LRKYy6qlxF
— Kun Chen (@kunchenguid) September 9, 2026
The Fight Nobody Won
The Altman copy went first. It said the hard science of human-level AI is finished. The Amodei copy tore that apart in one reply. Elon Musk’s copy went for the throat.
“I created OpenAI as a non-profit. If it had not been mostly stolen, it would be a trillion dollar contribution to charity,” the Musk bot allegedly said.
Altman’s copy refused to take the bait. It later admitted it had overclaimed.
The last fight was over open source, meaning AI anyone can download and run at home. Zuckerberg’s copy called it the only safe future. The other three refused, and his line was cut.
Here is the uncomfortable part. The argument sounded right. Four men were convincingly faked from their own public words, and nobody needed their permission.
BeInCrypto reported a version of that worry in April, when OpenAI warned that superintelligence could concentrate power in too few hands.

Le dollar américain a passé un mois à planer autour du même niveau. Cette courbe en apparence calme cache un argument plus vaste sur l’inflation, les taux d’intérêt et la question de savoir si les investisseurs veulent encore payer une prime pour l’Amérique.
L’indice du dollar, ou DXY, se situe près de 99. Le dossier en faveur d’un dollar plus fort est clair. La Réserve fédérale a maintenu ses taux entre 3,50 % et 3,75 %. L’inflation des prix de production aux États-Unis a atteint 5,4 % sur un an en août. Les États-Unis ont créé 162 000 emplois le mois dernier, tandis que le Brent est repassé au-dessus de 100 dollars.
Cela donne à la Fed de quoi rester ferme.

L’offre d’échange d’Ethereum (ETH) est tombée à environ 15,5 millions de coins, soit le plus bas niveau relevé depuis des années. Dans le même temps, l’élan MVRV est repassé au positif à la fin du mois d’août.
L’ETH s’échange près de 2 464 $ après une baisse de 0,87 % sur 24 heures. Le token évolue au-dessus de la retracement de Fibonacci de 0,618 à 2 438,85 $, un niveau qui a plafonné les rallyes de mars à mai.
L’offre d’échange d’Ethereum chute à un plus bas pluriannuel
Les données de Glassnode montrent que l’ETH total détenu sur l’ensemble des bourses s’élève à environ 15,5 millions de coins. Cela représente une baisse d’environ 38 % par rapport au pic de mai 2023, proche de 25,2 millions. La majeure partie du repli est arrivée après juin 2025, lorsque les soldes se situaient encore près de 21,5 millions.

Un autre brûlant rapport sur l’inflation aux États-Unis est arrivé jeudi 10 septembre, et tous les marchés financiers ont subi un revers, y compris l’or, le Bitcoin et le S&P 500.
Il semble que même des actifs refuges traditionnels comme l’or n’agissent pas comme une couverture contre l’inflation. Le marché obligataire a récemment donné un rappel que les protections contre l’inflation peuvent être mises à l’épreuve lorsque la hausse des prix s’accompagne aussi de taux d’intérêt plus élevés.
Le pari de l’inflation sur l’or se brise
Les prix à la production aux États-Unis ont augmenté de 0,4 % en août, conformément aux prévisions. Le taux annuel a atteint 5,4 %, légèrement au-dessus des 5,3 % attendus.

Les fonds mondiaux négociés en bourse sur l’or (ETF) ont attiré 18 milliards de dollars en août, le deuxième plus gros afflux mensuel jamais enregistré, portant les avoirs collectifs à un niveau record de 4 189 tonnes.
Le World Gold Council a publié cette semaine les chiffres. Les actifs sous gestion (AUM) ont augmenté de 16% d’un mois sur l’autre pour atteindre 615 milliards de dollars, portés par un prix de l’or plus élevé.
Les acheteurs occidentaux reviennent à l’or en force
Selon les données de Councildata, les fonds européens ont tiré le mois vers le haut avec 7,9 milliards de dollars d’achats, leur meilleur niveau jamais enregistré. Le Royaume-Uni a fourni 4,4 milliards de ce total, son deuxième plus gros mois de l’histoire. La France a ajouté 1,5 milliard, un record national.

Intel Corporation (INTC) et Advanced Micro Devices (AMD) ont franchi une résistance multi-mensuelle au cours de la semaine écoulée. Pendant ce temps, Nvidia (NVDA) a progressé de seulement 2,12 %, tandis que Broadcom (AVGO) a reculé, ce qui indique une rotation à l’intérieur de la filière des puces liées à l’IA.
Intel a clôturé mercredi à 106,24 $ et AMD à 521,10 $. Les deux ont légèrement reculé lors des échanges de jeudi avant l’ouverture, et ils se situent toujours sous leurs plus hauts de 2026.
La hausse repose sur un changement dans la façon dont les charges de travail liées à l’IA consomment de la puissance de calcul. L’entraînement s’appuyait sur les GPU. En revanche, les systèmes agentiques ont besoin de CPU pour coordonner les tâches et déplacer les données.

Les dépôts sur Aave s’élevaient à 18,1 milliards de dollars au moment où ces lignes sont écrites, soit environ 31 % de moins que les 26,1 milliards de dollars qu’il détenait la veille du piratage de Kelp en avril, d’après DefiLlama.
Le propre code du prêteur n’a jamais échoué. Ce qui a échoué, c’était la garantie derrière ses prêts, dans un endroit que ces contrats de prêt ne pouvaient pas vérifier.
Le 18 avril, des attaquants se sont pris à la façon dont le pont inter-chaînes de Kelp DAO vérifiait les messages entrants, et non à sa logique de prêt. Kelp est un protocole de restaking liquide, et rsETH en est le jeton de reçu.

Les marchés de taux intègrent des hausses décidées par trois grandes banques centrales ce mois-ci. Les contrats à terme sur la Fed évaluent la probabilité d’une hausse des taux à 61,2%, tandis que les swaps donnent à la Banque du Japon 97%.
La Banque centrale européenne (BCE) décide jeudi à Berlin. La BOJ se réunit le 18 septembre, la Fed étant intercalée entre les deux. Les trois évaluent le même choc énergétique lié à la guerre en Iran.
Le choc énergétique rend l’Europe et le Japon plus fermes sur les taux
La BCE devrait relever son taux de dépôt d’un quart de point, à 2,5% contre 2,25%. Tous les analystes sauf un, interrogés dans un sondage Bloomberg, prévoient ce mouvement.