🐂 Bullish Macro Is Back! Let's Map Out The Next Pullback:

PLUS all the AI news you missed!

April 23, 2025

Grand morning!

What a sight. It’s always a nice day when you see $280,000,000 worth of Bitcoin shorts liquidated in a span of not even 24 hours. Carnage never looked so bullish.

Now, even though we were bullish at precisely the right time, let’s not get too cocky. The next question is: How long will this rally last? We’ve already hit a massive level of around $95k, and if there was a perfect place for BTC to put in another weekly lower high, it’s this.

Nevertheless, the environment is currently fundamentally bullish. Global liquidity is breaking out as expected, the M2 money supply keeps charging higher, and Trump is settling his drama not only with Powell but also with China.

The outlook is getting smoother as the market is now pricing in upcoming rate cuts and stealth QE in the US, while also counting on a “nicer” version of the trade war.

This is all well and rosy, but we all know there’s yet another headline just around the corner, which will snap the bull’s balls right off. When will it come?

Personally, I would keep a very close watch on the USDT dominance. As it retraces to exactly this level, we can gauge whether this rally has more legs. Bounce means the rally is over; breakdown means we continue higher.

As long as this USDT dominance retracement progresses, combined with a weakening of Bitcoin’s dominance, I think there’s more fun to be had, at least for a few more weeks.

Good luck and stay focused, we’ll review these factors again as we progress through this market vibe shift.

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The important bits.

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Charts and stats of the day.

Hey, if you like what we do here at blocmates in keeping you ahead of the crypto space, we have just launched another weekly newsletter that covers the latest news, tools, tricks and tips in AI. 


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BTCUSD/Gold 1 Month Log Chart

Gold just had a huge run, adding over $4 trillion in market cap (more than the entire crypto market cap) in just two weeks. I think it cools off here for a while as our digital gold (BTC) bags continue to move higher.

Above, we have some pretty clean Fibonacci retracement levels on the huge BTC/Gold move in 2020 that took us from 5.5 to 40. 40x The gold price is where I’m thinking BTC is heading over the coming weeks to months.

Right now, we’re reversing the downtrend off the 0.382 retracement fib, and the Gold/USD chart (not shown) looks like it has hit an interim top. I’ve closed my leveraged BTC long at $94k (shared here from $81k) and am holding my BTC spot. The major resistance to flip is at $96,500. Claim that level on a weekly closing basis, and I think a new all-time high is on the table. There are lots of bullish charts out there today. I’ll cover some of the AI plays of interest in AI Corner below.

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!

AI narrative is coming back with vengeance! Perfect time to launch our new brand, Big Machines, wouldn't you think?

Decentralised AI Training Projects

We’ve done AI memes (is Fartcoin the last one standing?), AI agents, agent launchpads, and swarms. There’s a strong case to be made that decentralised AI training projects are where the hot ball of crypto x AI money is heading next. 563’s latest Meal Deal report is now free to read in X thread format on that previous link.

Prime Intellect

Currently, in the midst of a 32 billion parameter model training run, Prime Intellect is worth paying attention to, or farming if you manage to get access to the run and contribute some compute. It’s implied early contributors will be rewarded, and @563DeFi was trying to get in on the action during our Meal Deal meetup today.

Gensyn

Gensyn AI is a decentralised compute protocol connecting global GPUS and CPUS for machine learning training. Their testnet is live as of 31 March, and everybody is invited to run their own node and contribute to the reinforcement learning swarm. 

Nous Research

We like Nous and featured it in the previous AI Corner. Their Hermes models have been the default go-to model for the AI16Z framework, and as such, they’ve been used in many agents thus far. Their Psyche Network testnet launches soon on Solana. This open source project allows for diverse sources of compute to converge on neural network training runs, thus spreading the compute net wide - a key strength of the decentralised training approach that allows projects to compete with the deep pockets of corporate AI. Their DisTrO networking stack leverages data parallelism and is the core of the Psyche project.

  • Hyacinth (Elite crypto audits)

  • Hydros (Hyperliquid NFT) - Mint coming soon

To save you doom scrolling.

All I can say, I would reallyyyyy watch the USDT dominance level we talked about in market commentary…

If you see “The Great Depression” as a trend, combined with the highest fear levels we ranted about in market commentary the past month, it’s simply smash the green button time.

Whether it’s a pandemic, widespread paranoia from a looming economic collapse, whatever it is, the chance is that most of the time, nothing happens. These are times when the best long-term buys are made.

stay safe homies,

Hix0n 🫡

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