- The blocmates Newsletter
- Posts
- ☠️ 'Death Cross' Bells Ring for Bitcoin
☠️ 'Death Cross' Bells Ring for Bitcoin
PLUS, don't fade Ethereum's Kohaku.
Our friends at YEET.com have been on a tear lately, and to celebrate, they’re putting $500 back into the pockets of the blocmates readers every single week.
It’s super easy to get involved, just:
Sign up using the Link
Stay active
That’s it. You’re in the mix.
They’ve already released some pretty cool crypto-themed games, and with football (not soccer) season back, their upcoming sportsbook couldn’t be dropping at a better time.
So if you fancy a punt, go have a play. Just remember, as always: gamble responsibly.
Mawnin’!
I’d have started with a gm, but obviously, there’s nothing g about the m today.
BTC is currently trading at $93k, the “death cross” just flashed on its chart, and the sell pressure has been on the rise.
From history, we know:
More often than not, death crosses have marked local lows
They’re usually followed by rallies if the cycle is ongoing
However, during cycle-change phases, immediate rallies haven’t transpired
So, if we see no upward momentum in the coming week, we’d likely witness another leg down before a larger rally back to the 200 day MA.
Cowen has rightly said, “Trade the market you have, not the market you want.”
👇 And if you haven’t yet, hit subscribe below 👇
The important bits.
Yieldbasis metrics that you need to know about, check here
Kyan’s trading competition goes live, details here
Newton protocol integrates Vault.fyi data oracle, read here.
It’s one week since mainnet beta launch and XO Market has registered $3.8 million in volume, full recap here
Almanak’s TVL rises from $112 million to $123 million over the weekend, deets here
Even more important bits.
CZ says if Binance ever gets refunded the $4.3 billion fine, he will invest it in the US as a token of gratitude, read here.
Tether to lead a $1.2 billion round in a German Robotics startup, read here.
Harvard University nearly tripled the size of its spot Bitcoin ETF holdings, read here.
DOJ says US citizens helped North Korean IT workers infiltrate 136 companies, read here.
Aave unveils its native app, check here.
Jupiter expands its prediction market footprint. 50+ new markets added, check here
Charts and stats of the day.
Saylor’s Strategy accumulates more Bitcoin - stats here
McD applications see “record surge” amidst market crash - deets here
Mindshare game: Who’s winning? - check here
Curve’s stablecoin on Ethereum has been gaining traction + volume - check here
ICYMI.
Today’s bulletin:
Become your own bank.
It’s time to ditch your bank altogether and embrace the crypto life:
Spend it directly with no fees on the sale, and earn 3-5% back on every purchase—debit or credit.
Never sell - live like a billionaire: avoid taxes, compound wealth. Don’t worry about on-and-off ramps or taxes by spending against your balance as credit debt.
Pay off your debt with yield + cashback: earn 9% on stables, 7% on ETH, 2% on BTC, with HYPE and SOL on the way.
Use borrow mode: 70% LTV against your whole portfolio, “only borrow, never sell”
Keep self-custody, earn big yield, and never pay for instant withdrawals or have your money stuck in a CEX again.
Telemetry data of the day.
Top trending tokens for the last 24h:
If you want to access more of this type of data and trade freshly graduated tokens on PumpFun or Bonk, visit Telemetry here (it’s free).
Kohaku. That’s what we’re gonna focus on today because not a lot of them are talking about it. Off the bat, it seems to be quite a game-changing Ethereum upgrade. It’s twin focus lies on privacy and security.
In essence, it’ll allow wallets to:
Be more secure
Process private txns
Minimize third party dependence
The goal is simple: Everyone involved in a transaction should only see what they actually need to see + take-on only the bare minimum risk of getting the deal through.
In October, you might have seen Nico’s post about this, and now at Devconnect, Vitalik and Co. gave a live demo.
I see Railgun’s $RAIL directly reaping fruits. It’s one of those conviction coins to keep piling.
To save you doom scrolling.
“Don’t be evil → can’t be evil”
Sentiment-wise we’re still off-track. The F&G index has made slight progress, but we continue to hover around yearly lows, engulfed in the “extreme fear” zone.
The mantra for now is simple - keep replenishing high-conviction token bags. When the show gets started again, you’ll be more than just fine.
Lavina, Edyme 🫡
Reply