MARKET UPDATE: Bitcoin Rally, Zcash ETF, Bessent Humbled, NVDA Earnings

Watch on YouTube ↗  |  August 26, 2026 at 23:42  |  56:42  |  1000x Podcast
Speakers
Avi Felman — Principal, GoldenTree Asset Management
Jonah Van Bourg — Head of Trading, Cumberland / ex-Vitol

Summary

Avi Felman and Jonah Van Bourg discuss the market's shift from AI-driven fundamentals back to macro-driven debasement, highlighted by the recent Bitcoin rally and government intervention in the bond market. They analyze the Druckenmiller op-ed against Scott Bessent, the successful launch of the Zcash ETF, and why offsides positioning could lead to a massive Nvidia earnings rally.

  • The market has pivoted back to monetary debasement as the primary driver of returns.
  • Yield curve control and government intervention make Bitcoin and Gold highly attractive.
  • The Druckenmiller op-ed against Bessent is debated as a potential manufactured distraction.
  • Zcash is setting up for a strong run following its successful ETF launch and resilient chart.
  • Ethereum is viewed as losing its place in crypto portfolios due to fierce competition.
  • Nvidia's recent sell-off into earnings sets the stage for a potential rebound rally across the semiconductor sector.
  • The hosts emphasize the importance of picking mega-trends and maintaining a 'mind like water' approach to trading.
Ideas
Avi Felman Principal, GoldenTree Asset Management 4:40
Monetary debasement makes Bitcoin and Gold attractive.
Currency debasement and yield curve control are irreversible trends that will drive Bitcoin to $1 million over the next decade, despite near-term resistance at $100K due to Saylor's selling overhang.
BTC HIGH
Avi Felman Principal, GoldenTree Asset Management 4:40
Monetary debasement makes Bitcoin and Gold attractive.
The market has shifted from being driven by AI productivity back to macro fundamentals and monetary debasement, making Bitcoin and Gold attractive as the Treasury intervenes to control yields.
GLD HIGH
Avi Felman Principal, GoldenTree Asset Management 15:40
Bond market intervention makes equities a risk.
Government intervention in the bond market signals underlying economic concerns, making equities a nervous hold for the next three months until yields stabilize.
SPY MED
Jonah Van Bourg Head of Trading, Cumberland / ex-Vitol 25:53
AI and privacy mega-trends support long-term holds.
The successful launch of the Zcash ETF provides easier access to the privacy narrative, and the chart shows strong support and lack of panic selling, setting it up for a move to $1,200-$1,300.
ZEC HIGH
Jonah Van Bourg Head of Trading, Cumberland / ex-Vitol 25:53
AI and privacy mega-trends support long-term holds.
Picking mega-trends and accumulating during narrative lulls is the best strategy; AI, privacy, and Bitcoin are mega-trends, making Micron, HYPE, and Zcash solid long-term holds.
HYPE HIGH
Jonah Van Bourg Head of Trading, Cumberland / ex-Vitol 25:53
AI and privacy mega-trends support long-term holds.
Unlike previous quarters where Nvidia rallied into earnings and sold off after, it has recently sold off into earnings due to de-risking; a beat will catch offsides traders and trigger a 1-2 day rebound rally across Nvidia, Micron, and Intel.
MU HIGH
Avi Felman Principal, GoldenTree Asset Management 31:07
Biotech and uranium sectors will continue outperforming.
Bullish on biotech and uranium as specific sectors that are performing extremely well and will continue to see sustained strength.
XBI URA MED
Avi Felman Principal, GoldenTree Asset Management 41:24
Ethereum is being outcompeted by other assets.
Ethereum is no longer an attractive asset for a portfolio because it is being outcompeted by other crypto assets and layer-1s.
ETH HIGH
Avi Felman Principal, GoldenTree Asset Management 53:04
Offsides positioning sets up Nvidia earnings rally.
Unlike previous quarters where Nvidia rallied into earnings and sold off after, it has recently sold off into earnings due to de-risking; a beat will catch offsides traders and trigger a 1-2 day rebound rally across Nvidia, Micron, and Intel.
NVDA INTC SMH HIGH
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This 1000x Podcast video, published August 26, 2026, features Avi Felman, Jonah Van Bourg discussing BTC, GLD, SPY, ZEC, HYPE, MU, XBI, URA, ETH, NVDA, INTC, SMH. 9 trade ideas extracted by AI with direction and confidence scoring.

Speakers: Avi Felman, Jonah Van Bourg  · Tickers: BTC, GLD, SPY, ZEC, HYPE, MU, XBI, URA, ETH, NVDA, INTC, SMH