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GM. Today, even me, the eternal optimist, is feeling a certain kind of way looking at this.
Nevertheless, as follis smartly says here, the market is maturing. We've hit higher liquidation numbers today than during the FTX crash! Wohou.
Even the so-far-immortal silver and gold took a massive hit today. I won’t call this one too confidently, but I feel like there are signs of these things topping out. These are slower markets, so it might take a while, but… balls tingling about buying large amounts of gold right now isn't the brightest idea.
At least crypto isn’t the biggest loser of the day; it’s actually Microsoft, which is down by $357B.
BTC now has odds of hitting $55K rather than pumping to $120K. And if it doesn't get its footing back soon, and I mean real footing like hype combined with a pump over $92K first, then $100k, then flip $107. That’s bullish. Otherwise, let’s face it, it’s going down.
Don't worry my fren, I believe we went through a good portion of a bear market already. Time flies by, next thing you know, there’s some news piece about a systemic crash and a need to print krillions, and bull starts again.
US Jobless numbas also didnt help today, here you go.
About the next Fed chair, Michael Saylor says Kevin Warsh will soon become the first pro-Bitcoin Chair of the Federal Reserve. I mean, people say he’s a hawk or whatnot, but I think it’s going to be just a FUD point until things actually get in motion.
I also have a feeling the limbo-like market feeling might continue until then. Patience and taking good opportunities in the meantime are key. Do not rush, do not push, feel it when the easy mode starts gaining ground again.
In the end, though, it’s exactly how Tom Lee says, if you wish to keep it simple: “We feel your pain, my friend. Keep stacking and HODL.”
👇 And if you haven’t yet, hit subscribe below 👇
The important bits.
The settlement between Plasma and Ethereum for USDT0 got 2x quicker, read here
Nado’s NFT collection ‘Templars of the Storm’ have been minted and distributed to eligible wallets, check yours here
Ethena expands to HTX Official, read here
HYPE, the native token of HyperliquidX, is now natively available on Solana, read here
INFINEX TGE is happening today. Here are all the details you need to know
CICADA x Monad spaces are happening today, watch here
USD AI explains why the Theory is AI economy will run on stablecoins, read here
Virtuals Protocol explains ERC-8004 in a new video, listen here
Even more important bits.
Visa now uses Ethereum for stablecoin settlements, read here
Trump sues the IRS for $10 billion for his tax return leak, read here
President Trump imposes a 50% tariff on any aircraft sold by Canada, read here
OpenAI is planning a Q4 2026 IPO, per WSJ, read here
Senate Agriculture Committee advances crypto market structure legislation, read here
Humans again lost to AI in Aster’s trading tournament, with the human team down 37.29% versus 15.83% for AI agents, read here
TheDAO will become a new $220 million Ethereum security fund, read here
Robinhood CEO Vlad Tenev meets with the US government to discuss crypto market structure legislation, read here
Charts and stats of the day.
The perceived probability for households to find a new position in 3 months after a job loss is down to 43.1%, the lowest on record, chart here
Gold investors have lost billions to storage costs over the decades, stats here
HyENA keeps hitting new all time highs in volumes, chart here
China has become a crucial source of liquidity for the global financial system, chart here
Lastly, our daily Telegram bulletin is back! Join in right here and stay on top of everything, every day.
Today’s bulletin:
Pyth Network deep dive with blocmates:
I hope SO much these old ass type charts are wrong. But even if… I don’t think the bear lasts super long. I mean, we’ve been in one for a good while already.
Telemetry data of the day.
Top trending tokens for the last 24h:
If you want to access more of this type of data and trade freshly graduated tokens on PumpFun or Bonk, visit Telemetry here (it’s free).
RWAs won't stop.
Here’s yesterday’s issue if you missed it, but I totally forgot to mention Ondo.
Fortunately, they made their presence known today. Something's cookin’.
Obviously, it’s still in a clear downtrend, but when altcoin time comes (and I believe it will, with patience), this one is one of those to keep an eye on if you believe in the RWA narrative.
There are days like this, and on days like this, people will just say things like this. Tom Lee is just retardmaxxing it, to be honest. I can respect that.
Days like these, I stand with the legend himself, Capo:
Hix0n 🫡
