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Happy Monday Zingernation! I don’t know what’s harder, trying to explain Bitcoin to my great uncle at family gatherings, or holding the king of crypto during violent downturns. But those who were brave enough to buy last week’s dip have been rewarded as the OG crypto came roaring back thanks to these catalysts. Plus, why Abbott’s stock is getting crushed today.

—Aaron Bry & Nic Chahine

Plus, how you could win $30k through a trading competition featuring some of the world’s best traders.

MARKET SNAPSHOT

Last Week: We saw the year’s worst day for the market with the $SPY closing down more than 2% on Wednesday, but buyers came in to take advantage of the dip later in the week and a strong Friday erased some of those losses.

On Our Radar: Huge week for earnings with major tech companies like Microsoft, AMD, Qualcomm and others set to report. We also have an FOMC interest-rate decision on Wednesday and an employment report Friday. Buckle up traders and investors!

TOP STORY

Scaramucci: 'I Agree With Every Single Thing' Trump Has Said On Bitcoin

Basically: Former President Donald Trump has positioned himself as a pro-crypto candidate, and spoke at the Nashville Bitcoin conference over the weekend. But, now Kamala Harris’s camp is reportedly reaching out to crypto companies in an attempt to mend relationships after years of regulation.

What Happened: Here’s why Harris’s and Trump’s stances are helping Bitcoin’s price action, and the other major catalyst on the horizon.

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FIVE ZINGERS

What Inflation?: Higher prices have made consumers a little bit more cautious about spending money. Here’s how McDonald’s is bucking the trend.

It’s $ON: On Semiconductor reported earnings this morning, slightly beating both EPS and revenue estimates. Here’s what the stock is doing.

Time To Long Long?: Traders are going long Longeveron after the biotech company released some strong data for its Alzheimer’s treatment.

And Then There Were Four: Boeing is still on the hunt for its next CEO, but the airplane giant has reportedly narrowed the search to these four candidates.

When The Bet Pays Off: Michael Saylor and Microstrategy have continuously doubled down on $BTC, but for right now, it’s paying off.

ONE FOR THE ROAD

Abbott Laboratories Tumble Nearly 8% In Pre-Market

Basically: Abbott was hit with a big lawsuit related to its baby formula for pre-mature babies, with hundreds of other lawsuits still up in the air.

So: Here’s why Abbott is on the hook for hundreds of millions of dollars, and why this first lawsuit may just be the start.

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CLICK HERE to join Benzinga Edge and unlock all the major upgrades, downgrades, and changes to the market’s most accurate analysts.

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