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- đ· Another Day, Another ETH/BTC Bottom
đ· Another Day, Another ETH/BTC Bottom
PLUS our Curve thesis is playing out!
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Todayâs edition is brought to you by Size Credit - the first-ever DeFi fixed-rate lending platform with scalability designed for institutions.
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GM, seems like the market is sobering up a bit.
As per usual, the Operator did not grant us an easy passage by printing one of the most bullish weekly closes in Bitcoinâs history. Instead, weâre right back on edge, with literally a 50:50 chance of the market retesting the lows or pumping above $62,000, where Valhalla awaits.
So, quick note: donât let yourself get chopped to bits out there, please.
One thing to keep an eye on this week is the upcoming US CPI data release on the 14th. After recent unemployment data pointing to recessionary conditions in the US, those macro news seemingly have that old juice back and are definitely able to shake things up.
Nevertheless, possible volatility isnât deterring XRP bulls from betting big and long, as they have locked in over $2 million in XRP's $1.10 call options. Somebody knows something.
Lastly, ETH/BTC is trying to carve out (another) bottom here. The psychological extreme in ETH bearishness was reached during the past few weeks. Is it finally time? I canât say if itâs now or later, but personally, I canât imagine a future where ETH doesnât go on its typical parabolic run, just like every bull run.
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CRV/USDT 1D Binance Log Chart
$CRV could be explosive here, coming up to challenge the March downtrend with a giant 1D bull div on board. Price is trying to reclaim the infamous Michael Egorov mansion loan liquidation level. It may be a bit early if you are playing it safe, but that downtrend could break up dramatically when it goes.
Hop on Lukeâs daily TA stream to learn more!
NFA as per usual, please always do your own research.
Come by the Lucky Luke Discord channel for comments, to roast my picks or to pump your own bags. All banter is welcome any time!
đ A quick word from todayâs sponsors.
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Curve: Dangerous or Promising?
Continuing the conversation around ETH/BTC, one of todayâs most substantial benefactors is good old CRV.
With a 10% pump on the daily and a 3-day bullish divergence (quite rare) confirming on the chart, we might expect the strength to continue, especially due to the emission cut coming up tomorrow.
And, of course, when CRV moves, CVX followsâand thatâs exactly what weâre seeing right now.
Feel free to check back on the newsletter where we broke this down way before anyone started shouting about it on X, here.
Now be warned! The dark side of this play is that CRV is still being used as collateral in many DeFi protocols. Nevertheless, the worst one from the founder is behind us, and all the whales locking up CRV for another 4 years must have a solid reason for it.
The important bits.
Frax (DeFi) - Frax stablecoins coming to Tron network - read
Perennial (DeFi) - JPY 100x markets now available - read
API3 (Oracles) - Now available on Zircuit L2 - read
PepperDEX (DEX) - PnL reward campaign coming soon - read
Elixir (DeFI) - deUSD now on Frax Finance - read
Mantle (L2) - Threads on how to earn COOK rewards - read
Rocket Pool (LST) - Updates tokenomics - read
NEAR Protocol (L2) - Pushes "Signatures" on mainnet - read
Alkimiya (Blockspace markets) - Enables Replace By Fee (RBF) transactions - read
Even more important bits.
Life gets busy so hereâs what youâve missed.
Emiri Diary #5: Chop Time Is Research Time
Research
Just five projects in Eemiri's latest diary entry. Higher quality of potential gems, you could say.
He's been trawling for good stuff emerging during the chop, so here are a handful on our radar.
Fareplay x Berachain: Time to Gamble with the Beras
Research
You can play your favorite games to earn $FARE while farming the Berachain airdrop. Itâs a no-brainer.
To save you doom scrolling.
If BlackRock launches and L2, then the Ethereum season is definitely SO back.
Hyperliquid season is nearing its end, but there are still 7-point distributions left.
I will add to my spot volume by trading ATEHUN, the new ecosystem meme, and HFUN which is basically the Pump.fun of the eco. Have fun!
stay safe homies,
Hix0n đ«Ą
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