Bears Are Dead Above $110K. Are We Back?

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GM, it’s not looking bad, bruv.

Indices are near or above ATHs, and our dear Bitcoin is currently above the $106.5k level, which is a minimum price to stay above. If we manage to close above, or at best $107k, there is a solid chance to see this rally continue.

At the same time, watch out for fakeouts from here; they can happen pretty quickly. Nevertheless, there are many liquidation levels on the way up here, so this post-war FUD squeeze might continue.

What’s a bit dodgy here is the fact that alts aren’t following much so far, with ETH/BTC staying on the weaker side. Something to watch for, as well.

When the market is postured this way, it pays to be careful. High BTC dominance can slap altcoins around pretty harshly once a pullback happens. Cautious optimism, for now.

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The important bits.

• Sophon bridging explained in a new video, learn and bridge here

• MOO.F.O launches on Sophon, play here

• Newton’s NEWTON token airdrop claims are live, claim here

• Reactor DEX launches a campaign on Fuel, join here

• Fomo featured in new blocmates article, read and learn here

• Fuel launches Rig, first liquid staking protocol, stake FUEL here

• RYSK is offering 58% APR on HYPE, join vault here

Even more important bits.

• Trump’s Truth Social is going crypto, NYSE just filed to list a Bitcoin and Ethereum ETF

• Mastercard and Chainlink have teamed up to bring onchain crypto purchases

• U.S. regulators are exploring whether crypto holdings can help qualify you for a mortgage

• Coral Capital execs are raising $100M to launch Build & Build Corp, a BNB-focused treasury firm

• France logs its 10th crypto ‘wrench attack’ this year, a 23-year-old abducted for a hardware wallet

• OKX is eyeing a U.S. IPO after relaunching stateside operations earlier this year

• Robinhood launched a 1% match on any crypto deposit

Charts and stats of the day.

• Tether is now the second-largest shareholder of Juventus, acquiring a 10.7% stake

• Polymarket to close a $200 million fundraise at a $1 billion valuation

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BTCUSDT 1D Binance - Hideous M-Top Invalidated

Bitcoin has a way of looking ugly and then rekting consensus short setups. Here’s another example from 2023 when the BTC bull run started.

This is why, when you have a big account (hello Zoran Kole) with a lot of blind copytraders that goes publicly short on an obvious ugly market structure… it’s often a nice contrarian long setup. One that squeezes shorts, cuts OI and resets funding - these are all good outcomes for sending higher.

This is where we are at now.

OI is down versus where it was when we were at these prices a few weeks back. Funding is also very chilled, meaning minimal perps long interest. These are the things you want to see for new Bitcoin highs. Bitcoin does not want to attempt new highs with degenerate OI on board.

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!

If there’s one thing to notice, it’s that Solana smart money flows are getting weaker. Summer is coming…

Ethereum smart-money movements are even weaker…

New York City, we are in you. Watch out for more coverage from Permissionless soon!

• Flipr (Prediction Markets) - Huge rumours sparking around X integration and Kalshi partnership today

• Indexy (Track crypto markets with smart indexes)

To save you doom scrolling.

So, Donald Trump was formally nominated for a Nobel Peace Prize by a sitting congressman, war fudders are in shambles, and BTC is squeezing bears without looking back.

Is there any FUD left? Let’s see what July 9th brings around the tariff deadline. For now, the vibes are good. The only thing keeping me on my toes is the summer seasonality. Let’s see.

stay safe homies,

Hix0n 🫡