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- 📉 Nvidia Pops, Jobs Vanish, Bitcoin Drops
📉 Nvidia Pops, Jobs Vanish, Bitcoin Drops
Pip Munch
November 20, 2025
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☕️ GM Munchers! This is Pip Munch — the only market newsletter written at a 5th grade level because that’s also the highest level my brain operates at before coffee.
On today’s menu:
📉 Nvidia Pops, Jobs Vanish, Bitcoin Drops
🇯🇵 The Yen Is Falling Apart — And It’s a Warning
🔥 Robinhood Is Playing With Fire
🥳 Google Makes History
😬 More Drama In The Futures Prop Firm Space
Yesterday’s numbers:
S&P 500 | 6,642 | +0.38% |
Nasdaq | 22,564 | +0.59% |
Dow Jones | 46,138 | +0.10% |
Bitcoin | $89,500 | -3.63% |
BREAKING NEWS
📉 Nvidia Drops Earnings — And Traders Exhale
After a slow, steady climb yesterday, all eyes were on Nvidia, the largest company in the world, reporting after the bell.
Here’s what went down:
Revenue: $57.01B vs. $54.92B expected
Earnings: $1.30 per share vs. $1.25 expected
Stock reaction: Up 5% after hours
Translation? Even at a $4 trillion market cap, Nvidia keeps beating expectations like it’s still a scrappy startup in Jensen’s garage.
Why markets care:
Nvidia is the market right now. Strong earnings = risk-on energy across semis, hyperscalers, and AI everything. Weak earnings would’ve nuked sentiment. Instead, Nvidia delivered, and traders finally unclenched.
The Munch Take
Nvidia holding up means the AI trade still has oxygen. Equities get breathing room. Risk stays alive another day.
🙃 No October Jobs Report — Seriously
For the first time since 2013, the Labor Department said it will not release an October jobs report. Shutdown issues = missing data.
Instead:
October data gets bundled into the November report
That report is now delayed to Dec. 16
October unemployment won’t be included at all because it “could not be collected”
Fed now has less info heading into December
And that matters because the odds of a December 25bps rate cut have collapsed to 30%, down from 90%+ a month ago.
Today, though, we do get September’s delayed jobs report:
Expected gain: 50,000 jobs, up from the originally reported 22,000 in August
Still shows a soft labor market
But… it’s old data, so not super helpful
The Munch Take
This is the most blind the market and Fed have been in over a decade. Expect volatility around every data release — even tiny ones. Less info = bigger moves.
🤑 Bitcoin Breaks $89K — And We Buy More
Bitcoin dipped below $89,000 for the first time since April, now sitting 30% below its October all-time high.
Cue the panic tweets. But here’s the actual math:
On average, BTC sees a 30%+ correction every 3–6 months
That’s 2–4 major drops per year
This is normal volatility — not structural failure
Meanwhile, long-term fundamentals haven’t changed:
Debt keeps rising no matter who’s president.
Rates are high now but will eventually fall.
Liquidity cycles always come back.
The Munch Take
We’re buyers here — patiently, consistently.
Bitcoin punishes weak hands and over-reward the patient. If you can’t handle a 30% pullback, you definitely don’t deserve the next leg up.
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BIG PICTURE
🇯🇵 The Yen Is Falling Apart — And It’s a Warning
Here’s the deal: the Japanese Yen is collapsing, sinking to its weakest level against the U.S. dollar since January 15th, while Japanese government bond yields surge to record highs.
Translation?
Japan just hit the “stimulus won’t save you anymore” phase of the economic cycle.
Why the Yen Is Getting Smoked
Everything in the screenshots points to one core issue: policy divergence.
Japan’s central bank has kept ultra-low rates, while other major banks (like the Fed) raised aggressively.
That rate gap pushed capital out of Japan and into higher-yielding U.S. assets, weakening the Yen even more.
Meanwhile, Japan rolled out a massive new stimulus budget, stoking debt-sustainability fears right as yields spiked to 17-year highs.
Investors aren’t treating the Yen as a safe haven anymore. Even long-trusted narratives break when fundamentals crack.
This combo — stimulus + soaring yields + a weakening currency + no room to hike — is the economic equivalent of trying to put out a fire with gasoline.
Why Traders Should Care
The screenshots scream lessons for the U.S.:
Unsustainable deficits eventually matter.
Yield spikes can trigger investor flight.
Safe-haven status isn’t permanent.
Stimulus isn’t a free lunch. It fixes the short term and wrecks the long term if not paired with credible policy.
The Munch Take
If the U.S. keeps running huge deficits while relying on rate cuts to “fix things,” don’t be shocked if the dollar eventually faces its own confidence wobble.
MARKET OVERVIEW
🍿 Tasty Movers & Shakers
$HOOD
Robinhood just rolled out short selling for retail traders. Great — now everyone panicking during a selloff can also bet against the market. What could possibly go wrong? (Answer: everything.)
$GOOGL
Google ripped as much as 5% after unveiling Gemini 3, and the stock hit $300 for the first time ever. Buffett is somewhere cracking open a celebratory Diet Coke — or at least thinking about it.
$PYPL
PayPal is officially at the cheapest valuation in its entire public history. Yes, it’s down 30% YTD, but hey… so is my confidence in half my trades. Could be a bargain, could be a trap — choose your fighter.
$XYZ
Jack Dorsey resurfaced and apparently brought gains with him. Block jumped 9% after he said they expect mid-teens gross profit growth through 2028. Investors heard “mid-teens” and immediately got weak in the knees. Just remember: the stock is still down almost 30% YTD.
$SEMR
Semrush went full rocket mode after Adobe acquired them — popping 73.96%. They specialize in AI-powered SEO, meaning Adobe officially punched its ticket onto the AI hype train. Next stop: trying to explain SEO to shareholders.
🚀 Pre-Market Fuel
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