🦀 Chop Chop, Then Higher for BTC? Let's See.

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GM, I need volatility.

At this point in the cycle, I’m so overdosed with choppy price action that I would rather see another proper nuke. Well, maybe not, but you know what I mean.

There’s quite a lot of liquidity sitting above $100k right now, so perhaps we can smash above there? Find out more about where BTC stands price-wise in today’s Luke chart below.

Fundamentally, things are simply getting better. Even though yesterday’s David Sacks crypto session wasn’t as exciting as many expected, we now know there’s a plan to at least “evaluate” a US Strategic Bitcoin Reserve, and the SEC deployed a whole new task list—this time friendly towards the crypto industry.

Hopefully, we can leave this Twilight Zone earlier rather than later. ETH is especially plagued by this price action, although we see pretty large ETH inflows, with BlackRock’s ETF buying the largest amount to date.

Even though it seems impossible at this point, ETH finally pumping would help the altcoin market overall.

Finally, looking at the TOTAL2 chart, it seems that the worst for altcoins could be over, at least for now. Let us pray.

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BTC/USD 1D Coinbase

Bitcoin is still ranging, and it seems we’re in a news-driven chop regime. Last night’s Crypto Czar press conference with David Sacks was somewhat frustrating for what seemed like a lack of bag-pumping news, but we did learn that the new US Sovereign Wealth Fund will likely not include BTC. It’s still being considered for the separate Bitcoin Strategic Reserve. This BSR probably needs congressional approval, meaning it could take some time.

This is the significant catalyst most people are waiting for, so we can probably expect more chop - don’t get shaken out, and don’t overtrade this messy PA. I’m not trading it at the moment and mostly hiding in spot HYPE.

We have a VERY pro-crypto administration and a pro-Bitcoin soon-to-be-confirmed Secretary of Commerce in Howard Lutnick. He and Cynthia Lummis, amongst others, are fighting hard for this to be a reality

.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!

Smart-money movements on Ethereum.

Smart-money movements on Solana.

Berachain and MegaETH are leading the mindshare.

MegaETH is coming.

The MegaETH NFT mint checker just came online, and you should definitely see if you’re eligible.

Considering the 10,000 NFTs getting airdropped 5% of the MegaETH supply, the possible returns on 1 ETH mint are pretty nice; I have to say.

Here’s a little moon math you can check for yourself

Lastly, don’t forget to dive deeper into MegaETH in our latest research article. This one certainly looks promising.

AI Corner

Hedgewater DAO are bringing the AI Investment DAO concept to Hyperliquid. They have a tokenomics announcement that is due today (we’ve been waiting on the AI16Z one for weeks and weeks).

The chart looks to be slowly carving out a bottom, and I expect bullish structure to emerge as we get closer to the HyperEVM launch. The market cap is still very low at around $5.7m. I believe I heard Grant say he is LP-ing on today’s weekly Hyperliquid eco stream. These are essential watching, given that the EVM launch is imminent and will be a game-changer for the chain as literally hundreds of projects will launch into this new composable environment.

New content to study.

• You're probably looking at the DeFAi opportunity wrong by Squid

• DeFAI is back! by Diego

• The Thesis for $AIXBT for AIXBT by Alea Research

• The Agentic Future: AI Agent Weekly Analysis by S4mmy

New updates & projects.

• Berarium (AI on Berachain)

• Cult world (Cultivation AI agent)

• Berkshire DAO (AI agent)

• Clutch (AI-backed analysis)

The important bits.

• Hermes (DeFi) - Check all the big protocol updates since last weeks

• Ondo Finance (RWA) - Unveils tokenization platform to bring stocks, bonds, and ETFs

• Vana (Data, AI) - Releases article on Data and AI with Vana

• Sophon (Entertainment layer) - Check out new “On the spot” featuring Sophon on blocmates

• Superseed (L2) - Adoption metrics are keep growing

• Mode (L2) - Epoch 2 of the Governance Games is closing today

• Pendle (DeFi) - Announces rewards and new pool with Treehouse

• Ramen Finance (Berachain) - Check out the new Ramen Finance explainer video

• Taproot Wizards (Ordinals) - Raised $30m to build Bitcoin ecosystem of apps

• Offchain Labs (Ethereum) - Announces universal intents engine for interoperability

Even more important bits.

• Blackrock and Tether intensify their AI push

• SEC launches Crypto Task Force website to "provide clarity" for crypto laws

• David Sacks says Bitcoin is a great store of value

• Standard Chartered predicts Donald Trump’s administration will push Bitcoin to $500,000

• First FTX repayments coming in 2 weeks

• Senator Bill Hagerty will introduce legislation to create a framework for stablecoins

• Galaxy announces ETH institutional staking with BitGo

Charts and stats of the day.

• Pumpfun surpasses Circle in 24h revenue

• Retail continues to capitulate

• $36b worth of altcoins will be unlocked in the next 12 months

• US 10-year treasury yield keeps falling

• Supply of ETH is now above pre-merge levels

Life gets busy so here’s what you’ve missed.

Tao Talk: dTAO Launch Sequence Confirmed

Podcast

CH shares insights into his journey at Bitget, the rapid growth of the exchange, and his deep involvement in the Bittensor ecosystem.

The lads dive into the complexities of Bittensor's development, the impact of DeepSeek, challenges in the crypto space, and the evolving dynamic between closed-source and open-source technologies.

Tune in on Spotify | YouTube →

• SpotZero (Gaming)

• Blast with a Bear on it (Blast on Berachain)

• Tapestry (Internet social graph on Solana) - SSE token now launched

• Hooktapp (Tinder for outcomes, prediction markets)

To save you doom scrolling.

Yea, we’re taking over.

If you’re bored as me, I think we’ve got plenty of opportunity coming up on Hyperliquid.

I can definitely recommend tuning in for this one:

stay safe homies,

Hix0n 🫡