YEET.com has been doing some cool stuff lately in the crypto casino space, so we’re giving it a shout-out for anyone who’s been meaning to check it out.
They’ve been putting out a bunch of fun, crypto-themed games with plenty more coming!
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What an interesting predicament: BTC is bouncing, first Warsh-style FOMC is around the corner, and the Iran deal seems finally real (for the 159th time). GM.
Where do we even start? Let’s just get BTC out of the way - we’ve been ranting about the upcoming bounce action for the past week and a half, and finally, Bitcoin complied. After the massive bearishness we've seen all over the timeline since $59K hit, it seems it’s time to liquidate some overly hornt shorts - and yes, looking at this, there are plenty.
Same old story, every time: we’ve seen largely negative ETF flows the past week, combined with an atrocious sentiment (Fear&Greed now bounced from 9 to 20), war drama, and inflation scares. The result? Piko top of fear, resulting in an inevitable bounce.
Now, even though there are good signs for continuation this week all over the place, I wouldn’t confuse this bounce with a whole new bull run - until BTC flips back $80-82K, we’re simply playing in a lower high territory. At the same time, those who accumulated during the $59K-60K dump can simply chill and do nothing, at least that’s what I believe and have repeated here multiple times.
That said, the Iran deal news (coming out Sunday as per usual) finally seems real. Here are the full details for you if you’re interested. Now, we wait for June 19th, the date when this deal is supposed to be signed in Switzerland. Perhaps that’s the date this bounce runs out of juice? Let’s see.
What’s helping currently is also oil dumping on the news, paired with USDT dominance (finally) retracing. Great. Oh, plus, we have Bitcoin printing a nice bullish weekly divergence, nice.
Looking forward, there are some shenanigans to be aware of, especially with Japan's rate-hike situation (here’s the breakdown), and Wednesday’s FOMC, our first meeting with Warsh. There are plenty of other events this week, here’s your full calendar.
Talking macro, I like this take by Forward Guidance. Basically, it seems the potential for two rate hikes is already priced in, and we should focus on the possibility (perhaps inevitability) of upcoming cuts.
Plus, we’ve got oil executives warning about oil shortages even if Hormuz stays open. This whole mess still has some ripples left, it seems, and I wouldn’t be surprised if some of those show up over the summer.
Overall, I’d keep it simple. Plan remains unchanged - enjoy the bounce action, prepare for another test of the lows. Whether that comes or not, I have no idea, but I do know real macro bottoms take their time to print properly. Anyways, brighter times ahead. Keep tuned in.
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The important bits.
Sport.fun NFL season is heating up, see & play here
True North breaks down the Iran Deal situation, read the article here
Nado Reward Season 2 begins, learn how to win $100,000 here
SPCX is now tradeable 24/5 thanks to Pyth Network, see here
Aerodrome is turning liquidity into a prediction market with its new product, read here
Hedera is making progress in terms of decentralization, read here
Canton Network Token Standard V2 (CIP-0112) has been approved, read here
Aave is launching a consumer app that lets users deposit directly from a bank account, read here
Variational now offers dividend payouts if you hold longs on stocks, read here
Even more important bits.
Plume and Bybit launch tokenized fixed-income products, giving users access to PIMCO and CMBI bond funds, read more
Elon Musk: “I don’t think dollars will be used as currency. Just mass and energy”, read here
UFC will reportedly pay some White House fight bonuses in Trump-backed USD1 stablecoins, read here
MiCA Transition ends on July 1: Approximately 75% of EU crypto companies may lose their license, read here
Digital Asset has raised $355M at a $2B valuation to expand its Canton Network, read here
Researchers say Ethereum users could add quantum-resistant account protection for as little as $0.07 without a hard fork, read here
Trust Wallet will add support for SPCXB, a tokenized version of SpaceX on BNB, read here
Charts and stats of the day.
39,754 Hyperliquid wallets were made in just one hour, chart here
Hyperliquid’s HIP-3 is helping drive $200B in volume for S&P 500 and stock perpetuals, read here
No-one is currently unstaking ETH, stats here
Ethena just beat out Hyperliquid and PumpFun for 24-hour fee revenue, read here
Aave's annualized fees have now almost surpassed AAVE’s market cap, stats here
SpaceX is now the 7th most valuable company in the world, stats here
Lastly, our daily Telegram bulletin is back! Join in right here and stay on top of everything, every day.
And now, over to the World Cup scene. It’s officially been four matchdays, filled with goals, a few red cards, some of the most epic hate-watching in football history, and we are not even out of the group stage yet.
Considering that this stage is vital to how you perform throughout the tournament, we’ve come up with a few strategies for the rest of the group stage when playing SDF Pro or Free with us.
First, don't marry one nation
It's tempting to load or reshuffle your squad with a single favorite because you have seen a few teams play, but one shock result in the final round of group games could leave you with a lot of dead weight.
Stick to your picks or shuffle across sides that actually look like progressing.
Play the fixtures and not the names
A mid-tier striker against the group's weakest defense will often outscore a superstar facing a backline playing like Arterta’s setup for the PSG final.
Read the remaining matchups and target the players walking into the easier games.
Not picked yet? You still have a chance
Although it has been 4 days, and the early movers are climbing fast, you can still pick a team and catch up.
Don’t give up. Do some research into performances so far and pick your players for the next round of games. Start here.
The time to bank points is now, while it's chaos
Remember, divisions don't get assigned until after the Round of 16, and they're based on your tournament performance up to that point.
So everything you stack from now through the early knockouts decides whether you land in Elite or further down.
The group stage is usually messy and high-scoring, which makes it the best time to start climbing before the field sorts itself out.
Nail these, and you'll head into the knockouts in great shape, irrespective of whether you're playing Pro or Free.
Flashback to a great video by the one and only Nev:
I think, besides the Crypto x AI convergence, we should definitely keep our eyes out for RWA protocols:
Yes, I can’t agree with this tweet more:
The AI news & updates.
OpenSev lifts open-source models to frontier-level and lets you swap models freely, watch here
The US government, citing national security authorities, has issued an export control directive to suspend all access to Fable 5, read here
OpenRouter claims it achieved Fable 5-level intelligence, see here
Andrej Karpathy, a top AI scientist at Anthropic, is reportedly barred from accessing Fable 5, read here
Claude Free, Pro, and Max users may soon be asked for age or identity checks, read here
The AI tutorials of the day.
Lightweight terminal-first AI workspace with no telemetry, get it here
AI Articles of the day.
David Sacks’ summary of the Anthropic/Fable 5 situation, read here
Theone thing to NOT do today (or any day, for that matter):
Same old story, every time.
I know I said we might retest the lows again, but seeing Pomp officially pivoting out of crypto and saying “the dream is over” makes me think I should be way more bullish than I already am. The signs are stacking up.
If this was useful, forward it to one person sitting on the sidelines right now. That's how this thing grows. MUCH appreciated.
Hix0n 🫡
