What's going on:

• Biggest 2-day drop for the Nikkei in history, surpassing Black Monday.

• Jump Trading has likely been offloading $ETH, unstaking $500M worth over the past 2 weeks. 

• The US tipped off the G-7 that Iran might strike Israel within the next 24 hours.

• Berkshire Hathaway has been dumping more shares this quarter than ever before. 

• Trump momentum has flipped to Kamala momentum. 

• The unwinding of Yen carry trades is causing a reduction in global liquidity, affecting asset prices across markets, including US Treasuries and crypto.