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Crypto Trends

Bitcoin Options Traders Split Ahead of Fed’s Jackson Hole Meeting

by admin August 21, 2025



In brief

  • Options data indicates that Bitcoin traders are split, with nearly equal bullish and bearish block trades.
  • Experts suggest markets will be closely watching for Powell’s tone if there’s no clear decision surrounding rate cuts.
  • They also said crypto’s bullish market structure remains intact in the long term.

Bitcoin traders are entering a high-stakes standoff ahead of Federal Reserve Chair Jerome Powell’s highly anticipated speech at the Jackson Hole symposium on Friday. 

With conflicting macroeconomic signals and mixed investor sentiment, the directional bias remains unclear for U.S. equities and crypto.

The July CPI report, delivered earlier this month, provided a bullish signal with rate cut hopes, prompting a crypto market rally that pushed Bitcoin to an all-time high in the first two weeks of August. 



Subsequent PPI data release, however, has elevated inflation concerns, further aggravating ambiguity over whether the Fed intends to cut rates this year, including next month.

Bitcoin has dropped from 8% from its August 14 all-time high of around $124,128 to $114,170 following a sharp decline over the past seven days, CoinGecko data shows.

Despite Bitcoin being near record highs, “the market is pricing in roughly an 85% chance of a rate cut at the September FOMC meeting,” John Haar, managing director at Swan Bitcoin, told Decrypt.

“Powell is likely to keep his comments relatively neutral in order to keep his options open,” Harr added.

To cut or not to cut, that is Powell’s question

While bond traders remain adamant that a cut will arrive in September, the uncertainty has led to a split in investor expectations and betting in the derivatives market.

The “block bullish and bearish trades were nearly equal,” Adam Chu, Chief researcher at GreeksLive, an options trading platform, told Decypt. 

Even with marked trading volume, “short-term implied volatility declined,” Adam said, indicating “institutional investors are not very optimistic that this meeting will bring about significant volatility.”

In any case, the market’s reaction hinges on Powell’s tone. 

“It’s clear that many investors are hoping for a rate cut,” James Gernetzke, CFO at Exodus, told Decrypt.

Gernetzke believes that while a rate decision may not become clear until future data is released, investors should still “take note of his tone—this will matter just as much as the specifics.”

“Bitcoin and crypto assets are sensitive to global liquidity conditions and should respond favorably to any further signal the Fed will continue on its dovish path,” Gerry O’Shea, head of global market insights at Hashdex, told Decrypt.

A hawkish tone, however, could spark a renewed sell-off in equities and crypto. 

But Gernetzke also offered a nuanced view, noting that this crypto market cycle is “atypical due to regulatory tailwinds” and institutional adoption, which “could soften the blow of a hawkish Powell.” 

O’Shea echoed that sentiment, arguing that any negative near-term decision on rates wouldn’t impact the long-term investment case for crypto, supported by institutional adoption and favorable policy from the White House.

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August 21, 2025 0 comments
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A screenshot of the protagonists from Split Fiction
Product Reviews

Split Fiction Switch 2 review: an absurd co-op adventure that just needs some refinement on Nintendo’s new handheld

by admin June 20, 2025



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Releasing a follow-up to 2021’s critically acclaimed It Takes Two was never going to be easy. But Swedish Hazelight Studios proved it was more than up to the challenge when it released co-op action adventure Split Fiction for Xbox Series X|S, PS5, and PC in March 2025.

Review info

Platform reviewed: Nintendo Switch 2 (and PS5)
Available on: Nintendo Switch 2, PS5, Xbox Series X|S, PC
Release date: June 5, 2025 for Switch 2 (March 6, 2025, on other platforms)

Split Fiction took the lauded co-op experience of It Takes Two to a new level, offering more varied environments and gameplay and a lot more explosive (literally, at times) action. Now, the hit co-op adventure has been ported to the Nintendo Switch 2, releasing as part of the new console’s launch lineup alongside titles such as Deltarune, Mario Kart World, and Hitman World of Assassination – Signature Edition. But does this Switch 2 port of the co-op game manage to maintain the magic?

Mostly, yes. Split Fiction on Switch 2’s brilliantly fun, character-driven story and overall gameplay mechanics remain the same, but there’s a distinctive drop in visual and performance quality compared to the PS5. Pair this with a multitude of confusing local and online co-op play options and a less-than-optimal Tabletop mode experience and there’s some frustrating niggles to this Switch 2 port.


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However, overall, this is a solid port that’s, for the most part, well-suited to the Switch 2’s versatility. Just don’t expect the same level of polish as the other platforms.

Worlds collide

(Image credit: Hazelight Studios)

Split Fiction begins at Rader Publishing, where fantasy writer Zoe and sci-fi writer Mio are summoned, along with others, under the premise that their stories are finally going to be published. What CEO J.D. Rader has up his sleeve, though, is far from a sit-down chat and contract signing. Instead, he introduces “The Machine,” which can create a complete simulation of a writer’s world. While everyone is excited at the prospect of jumping into their stories, with each becoming encased in their individual bubble simulation, Mio is (rightfully) suspicious of the technology and gets in a fight with the staff, only to fall into Zoe’s bubble.

Mio spawns in Zoe’s magical, fantasy world, much to both’s chagrin, alongside a suspicious-looking glitch. When the writers approach the glitch, they’re pulled into Mio’s story, a chaotic sci-fi thriller full of explosives, dogfights, and lasers.

It’s the perfect setup for what you should expect in Split Fiction. With each level, you jump from Zoe’s enchanting fantasy world to Mio’s explosive, sci-fi world – one minute you’re flying dragons and the next you’re lobbing bombs in a cyber game show.

As you’d expect, Mio and Zoe are, on the surface, polar opposites. From the start, Zoe is painted as an optimistic, bubbly daydreamer, while Mio is surly, suspicious, and sarcastic. But, once they realize Rader’s intentions are (as Mio predicted) sinister, they must work together to find all the glitches and escape the simulation.

(Image credit: Electronic Arts)

We put a little bit of ourselves into everything we write. Through their adventure, Zoe and Mio discover this is more true than they thought. Their friendship grows as they come face-to-face with the surreal, funny, magical, and darker aspects of their lives that have made their way into their work – allowing them to see they have more in common than originally thought.

This character growth is well-paced, with some emotional twists that you’ll likely see coming a mile off, as the writing isn’t amazing. But it’s the visual interpretations, the worlds, and how they portray the story’s emotional beats that hit hardest. The metaphors may be on the nose at times, but they do help you to understand both writers without the need for words.

But don’t worry, this isn’t a heavy adventure. Instead, Split Fiction carefully walks the line between thrilling action and laugh-out-loud silliness. Its gameplay, too, keeps you guessing. As with It Takes Two, Hazelight isn’t afraid to experiment with different genres and gameplay mechanics here, throwing in platforming, shooting, puzzles, and more, resulting in the perfect formula for co-op partners who struggle to agree on what to play.

A clear split

(Image credit: Hazelight Studios)

While Split Fiction, at its core, is a great game, its Switch 2 port is a noticeable downgrade from its PS5 counterpart – and this is clear from its opening splash screen showing the title. In TV (docked) mode, the splash screen’s blacks are blocky, and the frame rates on the animation are noticeably lower than on PS5. Even sitting on the main menu, I spotted issues before playing, with the shadow renders on the Rader Publishing sign flickering. In-game, the visual drawbacks are apparent, too.

While the cutscenes look alright, the visuals are considerably less polished than on PS5, with character hair textures a bit frazzled at the ends and the graphics overall looking less refined and detailed. It’s not a huge surprise, given Split Fiction on Switch 2 runs at 1080p/30fps, a drastic drop from the 4K/60fps of the PS5. If you’ve not played Split Fiction on another platform, you may not notice these issues, but you’ll likely still clock a few.

During actual gameplay, there’s occasionally a clear blur when characters move quickly, and the shadow rendering is less than optimal, resulting in dark, poorly lit areas and flicking shadows. While the worlds and characters still look good, again, they’re nowhere near as impressive as on PS5. The visual refinement isn’t quite there, which can result in Mio looking a bit like a cartoon character at times. For the most part, this isn’t a huge issue, but the blur and darker areas can make it slightly harder to navigate certain areas where careful footing is critical.

(Image credit: Hazelight)

This is particularly frustrating in Tabletop mode. While the general visual and performance aren’t so obvious when playing in Handheld and Tabletop mode, the shadows are a killer. This is mainly because playing Split Fiction in Tabletop mode is a less-than-optimal experience. Firstly, this is because it’s really hard to see what’s going on on your side of the screen anyway when there are two of you gathered around the screen. In TV mode, I can struggle at times to keep track of my character and their footing, but on a smaller screen, it’s a much bigger challenge, especially when you hit those darker areas.

My partner and I struggled to play Tabletop in our living room, pondering if our 30+-year-old eyes were to blame while also questioning how anyone could play optimally on the go. If we struggled in our living room, huddled up on our sofa to try and see the screen, how feasible is it to play in an airport or on a train? This is exacerbated by the fact that you cannot play Split Fiction with just one set of Joy-Con 2 controllers, like you can with other Nintendo co-op games. Instead, you need to own two sets of controllers to play. This is great if you have another set, but less than ideal if you find yourself needing to shell out $95 / £75 on top of the game price to play with a friend locally.

The audio, however, in TV mode and Tabletop mode is impressively loud and detailed, especially for the latter. So, at least that’s something.

Play nice with others

(Image credit: Hazelight Studios)

Where Split Fiction confused the heck out of me was its numerous co-op play options. Trying to work out who I could play with locally and online and on what platform seriously hurt my head (even with the information boxes beside some). So, here’s what I eventually worked out.

Playing couch co-op with a friend is easy; just select the ‘Play Local’ option. The ‘Play Local Wireless’ option has three choices: ‘Host through Local Wireless,’ ‘Find and join through Local Wireless,’ and ‘Host a game using GameShare.’ Hosting and joining local wireless only lets you play Split Fiction with a friend on Nintendo Switch 2 who is in your vicinity, and doesn’t seem to require an internet connection. It does, however, seem to require your friend to own Split Fiction.

If you want to play Split Fiction with a friend on the original Nintendo Switch, you can’t do this online. Instead, you need to use the GameShare option to stream it to them (the quality will drop a bit more), but they must be in your vicinity. You can also use this option to play with a friend on Switch 2, where you can utilize the console’s GameChat feature, allowing you to see and speak to your friends while you play. Local GameShare doesn’t seem to require an internet connection, nor does the other person need the game, so it’s probably the better option over local wireless.

Playing online, you can make use of Split Fiction‘s Friend’s Pass to play the full game online with a friend who doesn’t own it. All you need to do is select ‘Play Online’, and you can invite your Switch 2 friend. You can also crossplay with those on other platforms (PS5, PC, and Xbox Series X|S) by entering their EA account name. If you are using the Friend’s Pass, your pal will need to download the Friend’s Pass to their console before you can play.

The number of co-op play options can be a bit overwhelming, and playing with a Switch 2 or current-gen platform player is pretty straightforward, but I was disappointed to not be able to play online with an original Switch friend.

A solid but less-than-optimal experience

(Image credit: Hazelight Studios)

Split Fiction offers the same thrilling fun on Switch 2 as on other platforms, but don’t expect the same level of polish here. While Tabletop mode, in theory, offers the opportunity to take your co-op playthrough on the go, it’s not the most optimal experience, and you’ll likely find playing in TV mode more enjoyable.

Overall, this is a pretty solid Switch 2 port, with some annoying niggles, but I advise picking up this co-adventure on another platform for the best experience all-round.

Should you play Split Fiction Switch 2?

Play it if…

Don’t play it if…

Accessibility features

Split Fiction offers a solid selection of accessibility features. In the Options menu, there is an Accessibility tab that allows you to reconfigure the controls for Mio and Zoe. The options include the ability to change button-bashing prompts and toggle spinning/wiggling prompts, so you just need to hold the button, or they complete automatically, the option to turn on subtitles and closed captioning, the ability to skip gameplay areas, and to reduce enemy damage.

You can also remap controls and make adjustments to the camera and controller rumble under other tabs in this section.

How I reviewed Split Fiction on Switch 2

I played Split Fiction for roughly 18 hours across PS5 and Nintendo Switch 2. During my playtime, I completed the main story as well as all the side quests I could find. Having played the game on both platforms, I was able to compare and contrast the experience on PS5 and Switch 2, primarily focusing on the Switch 2 version’s performance, visuals, audio, and overall experience.

I reviewed Split Fiction on Nintendo Switch 2, playing local co-op with my fiancé using a Nintendo Switch 2 Pro controller and a set of Joy-Con 2 controllers. We primarily played in the console’s TV mode with my Samsung Q80T QLED TV, but also played in Tabletop mode to test what effect this mode had on the experience. I tested the GameShare function by sharing my Switch 2 game with my Nintendo Switch Lite and the crossplay functionality by beginning a game between my Switch 2 and PS5.

I also tested whether I could play Split Fiction online with someone with an original Nintendo Switch by trying to GameShare and online play with a friend (this didn’t work).

Split Fiction on Switch 2, first reviewed June 2025

Split Fiction Switch 2: Price Comparison



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June 20, 2025 0 comments
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Ethereum, Solana, Doge traders caught off guard as Musk-Trump split weighs on markets
Crypto Trends

Ethereum, Solana, Doge traders caught off guard as Musk-Trump split weighs on markets

by admin June 6, 2025



Total crypto liquidations hit $972.22 million in 24 hours, with Ethereum, XRP, Dogecoin, and Solana among the most impacted

Long traders were caught off guard in the largest liquidation event since February, following a public split between U.S. President Donald Trump and a former close ally and supporter Elon Musk. On June 6, a wave of liquidations totaling $972.22 million swept the market, according to data from CoinGlass. Over the last 48 hours, nearly $3 billion in long and short positions were liquidated.

24-hour liquidations heat map on June 6 | Source: CoinGlass

Bitcoin and Ethereum led in total liquidation volume over the past 24 hours, accounting for 64% of the total. However, Solana (SOL) and Dogecoin (DOGE) saw the most liquidations relative to their market caps, highlighting a high level of leverage in these assets.

Trump-Musk spat caught long Doge, Solana traders off guard

The liquidation bias over the last 24 hours was overwhelmingly tilted against long positions. Of the total liquidations, $875 million, or 89%, came from longs. These highly leveraged positions were not able to withstand the spike in volatility driven by political developments in the U.S.

The trigger for the sharp liquidation wave was a slump in crypto prices following a public fallout between U.S. President Donald Trump and his former political ally, Elon Musk. Over the last 24 hours, Bitcoin (BTC) touched a low of $100,437, Ethereum (ETH) fell 7% to $2,387, and Solana dropped to $142. Meanwhile, Musk’s favorite crypto, Dogecoin, plunged over 20%, hitting a daily low of $0.1692.

Overall, the liquidation event appears to have stemmed from excessive long positioning amid a highly volatile market. Specifically, aggressive leveraged bets on Solana and Dogecoin, combined with stop-loss triggers during the slump, were enough to fuel the cascade of liquidations.

Despite the outsized liquidations, Solana has shown relative resilience—even outperforming Ethereum on some metrics. Dogecoin, however, remains heavily tied to Musk’s influence. With Musk now falling out of favor politically, DOGE is likely to face increased volatility in the near term.



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June 6, 2025 0 comments
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Sapphire RX 9060 XT graphics cards
Product Reviews

AMD RX 9060 XT 16GB flies off shelves, 8GB lingers – GPU launch highlights demand split between variants

by admin June 6, 2025



It’s been a few hours since the AMD RX 9060 XT hit online shelves, and so far, the state of things across the web seems split harshly down the line of the card’s 8GB and 16GB variants. The card is widely available at MSRP in the U.S. and several European countries in both its 8GB SKUs, but 16GB stock is far harder to find than the 8GB variant, now stabilizing at around $40 over MSRP online in the United States and Europe.

The 9060 XT’s 8GB and 16GB models launched today at suggested retail prices of $299 and $349, undercutting Nvidia and finally providing an on-ramp to 1080p gaming in the current generation of GPU releases. The card has many variants from an array of board partners, and our team has had trouble finding 16GB models remain in stock for longer than two hours. That’s not a problem with the 8GB version, though; We’ve had trouble finding sites that don’t offer the 8GB at MSRP.

Newegg currently hosts the greatest number of 9060 XT models for U.S. shoppers, with the site offering many 8GB models in stock at MSRP of $299. Its 16GB models are noticeably scarcer, with several SKUs selling out during the time of writing this article, and only $389 models are currently available.


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Other sites in the U.S., such as Best Buy, seems to be drip-feeding supply throughout the day. Several 8GB models are still available at MSRP on a variety of U.S. retailers, with 16GB now also popping up closer to $390.

Western European retailers have largely raised prices to €349 ($399) for the RX 9060 XT 16GB this morning, but several like Overclockers UK still offer several models at €319, matching the U.S. MSRP after the mandated VAT. Some further inland have complained about limited supply at scalper’s prices even before sales began, indicating another desert in GPU supply in Eastern Europe.

In-person retailers like MicroCenter are also reporting high stock on physical shelves at a variety of locations, and starting at the coveted $349 price tag.

For a constantly-updated look at availability trends on the 9060 XT throughout the day, be sure to refer back to our where to buy article, which will be updated as sales continue to shift throughout the week.

Get Tom’s Hardware’s best news and in-depth reviews, straight to your inbox.

As many online critics suggested pre-release, the 8GB does not seem to be enticing early adopters, indicated by its availability. But if nothing else, it is nice to see a GPU still available at MSRP on its launch day in 2025.



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June 6, 2025 0 comments
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21Shares sets 3-for-1 share split for its spot Bitcoin ETF
NFT Gaming

21Shares sets 3-for-1 share split for its spot Bitcoin ETF

by admin June 3, 2025



21Shares US LLC announced a 3-for-1 share split for its flagship ARK 21Shares Bitcoin exchange-traded fund, ARKB, aiming to make the fund more accessible to retail investors.

The move, announced in a company press release on June 2, will take effect at the opening of markets on June 16. The split will triple the number of shares available, reducing the price per share without affecting the fund’s overall value. 

21Shares stated that the split is intended “to make shares more accessible to a broader base of investors and enhance trading efficiency.” ARKB will continue to trade under its current ticker, with no changes to its net asset value, investment strategy, or underlying Bitcoin (BTC) holdings. 

The fund is a physically backed spot Bitcoin ETF that tracks the New York Variant of the Chicago Mercentile Exchange CF Bitcoin Reference Rate. It provides direct access to Bitcoin in a regulated investment environment. 

ARKB, which is now trading at $104.33, has gained about 27% in the last quarter and nearly 12% this year. The fund currently holds 45,410 Bitcoin, which is worth about $4.82 billion, as per SoSoValue data.

On June 2, it recorded a trading volume of $53.68 million and a single-day outflow of 700 BTC, or roughly $73.9 million. Coinbase Custody is the main custodian, with BitGo and Anchorage Digital Bank helping to lower counterparty risk.

The share split comes at a time when interest in crypto ETFs is growing rapidly, following the Securities and Exchange Commission’s landmark approval of spot Bitcoin funds in January 2024.

Since then, the ETF market has expanded rapidly, with $125 billion now held across 11 U.S.-listed Bitcoin ETFs. According to data from SoSoValue, the sector has drawn $5.26 billion in net inflows over the past month alone.

21Shares is positioning the split as part of a strategy to drive retail participation. With Bitcoin recently climbing above $100,000, lowering the per-share cost could attract new investors while maintaining institutional appeal.

The company launched the first physically-backed crypto exchange-traded product in 2018. In addition to ARKB, its U.S. offerings include the ARK 21Shares Active Bitcoin Futures Strategy ETF, which trades Bitcoin futures, and the ARK 21Shares Blockchain and Digital Payments ETF, which targets companies building products in blockchain infrastructure and digital finance.



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June 3, 2025 0 comments
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21Shares courts retail with 3-for-1 Bitcoin ETF stock split
Crypto Trends

21Shares courts retail with 3-for-1 Bitcoin ETF stock split

by admin June 3, 2025



The ARK 21Shares Bitcoin ETF (ARKB) will undergo a 3-for-1 share split later this month as the fund’s issuer, 21Shares, says it is looking to boost its appeal to retail investors.

The stock split is slated for June 16 and is designed to “make shares more accessible to a broader base of investors and enhance trading efficiency,” 21Shares said on June 2. 

The exchange-traded fund’s (ETF) investment strategy aiming to track the price of Bitcoin (BTC) won’t change, and its Bitcoin holdings will remain identical, 21Shares said. It added that the ETF will continue trading as usual, and the total net asset value of the fund will also remain unchanged.

A stock split is when a company divides its existing shares into multiple new shares. In a 3-for-1 split, each share becomes three, but the total value remains the same.

Some investors may feel priced out when asset or share prices rise, which can dissuade them from buying certain stocks. This leads some companies or ETF issuers to split their stock and lower the price per share, making it more affordable to retail investors, even though the underlying value is unchanged.

ARKB closed June 2 trading at $104.25 a share, meaning if a stock split happened now, one share would be priced at a third of the current value at just under $35.

ARKB stock split details. Source: ARK 21Shares 

The ARK 21Shares Bitcoin ETF, a joint offering between 21Shares and investment manager ARK Invest, has recently been the worst-performing fund in terms of flows out of the 11 spot Bitcoin ETFs in the US.

Related: Cathie Wood’s ARK bags $26M in Coinbase shares, unloads Bitcoin ETF

It has seen six consecutive trading days of outflows totalling $430 million. That trend didn’t change on June 2, when $74 million left the product, according to CoinGlass. 

However, it is the third-largest fund in terms of total aggregate inflows with $2.37 billion, trailing similar ETFs from BlackRock and Fidelity. 

ARKB currently has $4.8 billion in assets under management with a year-to-date return of 7.35%.

Bitcoin ETFs outflows increase

Spot Bitcoin ETFs in the US have reversed a trend of inflows, with an aggregate net outflow of $1.2 billion over the past three trading days, according to CoinGlass.

The outflows accelerated as Bitcoin prices dropped 4% in a fall from over $108,000 to just below $104,000 on June 2. 

Glassnode reported that last week’s inflow of more than 6,100 BTC marked the seventh consecutive week of net inflows, “highlighting consistent demand despite cooling momentum.”

Spot Bitcoin ETF flows since December. Source: Glassnode

Magazine: Bitcoin $200K ‘obvious’ breakout, GameStop’s first BTC buy: Hodler’s Digest



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June 3, 2025 0 comments
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Dow Jones, Nasdaq, S&P 500 down, retailers are split on tariff impact
GameFi Guides

Dow Jones, Nasdaq, S&P 500 down, retailers are split on tariff impact

by admin May 20, 2025



Tariffs continue to be in focus during today’s trading session, as Walmart and Home Depot shared differing views on their impact.

U.S. markets are still assessing the effect of tariffs on consumers. On Tuesday, May 20, the Dow Jones was trading at 42,679.23, down 112.84 points or 0.26%. The S&P 500 was at 5,942.07, down 0.36%, while the Nasdaq stood at 21,353, down 0.44%.

Just days after Walmart announced potential price hikes due to U.S. tariffs, Home Depot offered a different perspective. In its first-quarter 2025 earnings report, the home improvement giant stated that it plans to keep prices steady. Rather than raising prices, the company has opted to shift production away from China, which currently faces an effective tariff rate of 30%.

Still, Home Depot’s announcement may not be enough to lift sentiment. Wall Street analysts continue to warn about the broader economic impact of the recently resumed collection of student loans.

Student debt, consumer sentiment rattles Wall Street

The Department of Education under Donald Trump has resumed collections on student loans that had been paused for five years. This applies to borrowers in default, who may now face wage garnishment.

Notably, JPMorgan estimated that renewed collections could reduce disposable personal income somewhere between $3.1 billion and $8.5 billion. Bank of America’s analyst Mihir Bhatia noted that low-end consumers will particularly feel the weight of this new policy.

Against this backdrop, May’s preliminary consumer sentiment index has dropped to the second-lowest level on record. The index, which measures consumers’ willingness to spend, fell to 50.8 — the lowest reading aside from June 2022.

Still, despite bad news for Wall Street and Main Street, Bitcoin (BTC) is resilient, trading at $106,323 and up 0.98% in the last 24 hours. Gold showed even stronger performance, up 1.78% to $3,287 per ounce.



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May 20, 2025 0 comments
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