📊 Bull/Bear $BTC Level Are Clear:

PLUS new AI project we watch!

June 04, 2025

GM, enjoying the choppy chop?

While BTC continues to wrestle with breaking and holding above $107k, the timeline’s new favorite pastime seems to be speculating about the death of Solana caused by the PumpFun team announcing a $4b raise (full breakdown here).

That said, even though this tiny range chop drives everyone crazy, the plan still remains the same: bullish above $107k, short-term bearish under $103k (this is a good map here). Once again, the key takeaway is that BTC remains structurally bullish even if we dip back into the high $90k range.

Personally, I view any deeper pullbacks as opportunities, not the start of a new bear market.

The thing is, a lot of people are still afraid of the macro uncertainty. The system is in shambles, but it seems like the more broken it gets, the more bullish it eventually becomes for risk assets. The only way, as usual, is easing. On this topic, I can’t recommend this account enough, great alpha.

Lastly, if we are gearing up for another leg higher, my focus is firmly on Ethereum and the Hyperliquid ecosystem. I mean, even BlackRock is now swapping from BTC into ETH.

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MKR/USDT 3D Binance

Ethereum is showing a lot of relative strength versus Solana and Bitcoin, and Lindy DeFi protocols like Sky (MKR, above), AAVE and even COMP today, are high beta outperformers within that OG Eth DeFi ecosystem. DeFi will surely benefit from regulatory tailwinds and the stablecoin bull market, and it makes sense for deep pockets to onboard to the established, battle-tested protocols first.

MKR recently broke out of the log channel downtrend and has now reclaimed the high-timeframe VWAP. RSI has tested and bounced off the critical 50 level, and the stochastic is turning around at the bottom, signalling new upside momentum. The next stop for consolidation should be above the Value Area High (VaH) at $2,600.


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!

Coreweave and the Galaxy Digital Bull Case

Not your standard AI corner today, but I want to look at Galaxy Digital. It’s crypto, but via the stock market, as they’re listed on Nasdaq.

The background story is AI hyperscaler Coreweave, another 70+ billion $ market cap stock. Coreweave (Ticker CRWV) is a former Eth miner that recently pivoted to AI data centres and went public in March. Since then the stock has ripped like a pump fun shitter. IPO buyers are up tremendously (about 5x in a few weeks), and it could have a long runway of outperformance ahead of it.

They were the beneficiaries of giant funding from Magnetar, Blackstone, and others, and now run 33 AI datacenters, including the world’s fastest one in Texas, with Nvidia as their main client.

What does Galaxy (ticker GLXY) have to do with this? Mike Novogratz’s company (he of the Luna tattoo) is like a fledgling, digital Berkshire Hathaway. They own a portfolio of crypto companies, and most importantly, a monster data-centre campus in West Texas called Helios.

Galaxy’s whole enterprise is valued at a modest $6bn as of today, but this could change dramatically because Coreweave is looking to lease Helios, and just this rent stream, marked at 25× EBITDA (where data-centre REITs trade), is worth ≈ $16 – 18bn.

GLXY debuted on Nasdaq on 16 May and offers exposure one layer up the stack—owning the power and real estate that CoreWeave (and every other GPU hog) needs. 800 MW of grid power is already a lock, with 2.5 GW total potential. 600 MW of that 800 is pre-leased to CoreWeave. Here’s a detailed thesis if you want the full rundown.

The chart is in an interesting spot:

Price has pulled back to the PoC (white line) and looks primed to send higher from here.

To save you doom scrolling.

I’m putting this into the joke section of the newsletter. But is it really a joke? You decide.

Speaking of Ethereum, let’s do a little vibe check.

Do you believe ETH can reach $10K this bull run?

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stay safe homies,

Hix0n 🫡

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