🤑 Did Michael Saylor Start an Altseason?

🗞 Market commentary.

GM, it’s a Big Week.

The cryptocurrency world feels like an entirely new landscape at the moment. Even though today we’ve got some FUD coming in due to Mt. Gox wallets moving around $7 billion worth of Bitcoin, the overarching vibe is truly bullish. 

Trump is continuing to blow the crypto trumpet, saying it’s important for the USA to keep crypto in its hands and stay globally competitive. Even Michael Saylor did a complete one-eighty and is now saying that it’s “important to rethink all your models” and that it’s not only about Bitcoin now but the whole crypto asset class. Yes, there are probably millions of very confused laser-eyed people right now, but this was always to be expected. 

After the Ethereum spot ETF approval, it’s now clearer than ever that we are entering the second half of the bull, marked by descending Bitcoin dominance and capital moving into and exploring altcoins, starting with the ETH ecosystem.

In other words: altseason.

📊 Luke’s Chart of the Day

Based culture coin - consolidating since 3 March: Retardio.

When Solana reclaims the majors lead, this is one place I want to have some chips on the table. The Point of Control lines up perfectly with the first 0.236 fib (obscured by the red line). Anywhere around this level (purple box) is probably a good place to accumulate. 

A steady succession of higher lows suggests we may not hang around here for much longer. I am currently long Solana and Eth. The SOLETH pair is at the bottom of the 1D range. With the latest likely ETF approval (bullish for majors failing the Howey test) and liquidity grinding higher, Solana is probably going back to all-time highs sooner rather than later.

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!

🔥 Degen corner.

When everyone looks one way, look the other. 

Ethereum has been declared dead more often than a soap opera villain in the past few months. But now, it’s the big second best again, and the main ETH beta coins like PEPE and MOG are basting in gains. 

Nevertheless, the current capital reallocation presents several opportunities in the Solana zone.

Remember, this is a very volatile game, and let’s be clear—this isn’t financial advice. But if you managed to print on the ETH side, check to SOL side, to me personally, that means especially: 

• Retardio

• Monk 

• Popcat

👀 DeFi insights.

The important bits.

• Sei (L1) - Launched V2 - read

• Nftperp.xyz (NFTFi) - 1,371% APR available on Puppets X NodeMonkes - read

• Manifold (DeFi) - Partners with Tao Bot - read

• DeFi Saver (DeFi) - Adds new features for Morpho Blue - read

• Taiko (ZK-EVM) - Live on Ethereum mainnet - read

• Arbitrum (L2) - Plans a web3 game Captain Laserhawk with Ubisoft - read

• Badger (DeFi) - Offers extra incentives for borrowing Bitcoin - read

• Radix (DeFi) - Gamifying DeFi participation with Token Trek - read

• Fantom (L1) - Raised $10M for Sonic Foundation - read

📰 DeFi news.

Even more important bits.

• Ethereum Pectra upgrade to roll out Q1 2025 - read

• UK woman jailed for $5.6B crypto money laundering fraud - read

• Friend.tech price drops over 20% after co-founder Racer hints at leaving Base - read

• Trump promises to free Ross Ulbricht - read

• Argentine president met with El Salvador officials to discuss Bitcoin - read

• Bitcoin, Ethereum ETPS to make debut on London Stock Exchange - read

• Ethereum L2s hit ATH total-value-locked - read

• Nomura, Laser Digital, GMO to explore JPY, USD stablecoins - read

🫠 ICYMI.

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🦍 And finally…

No matter what tiny FUD gremlins creep in, we must remember this is a full-out, complete, and unadulterated bull run. When the tables start turning, we’ll make sure to flip bias. But for now, it’s important to stay consistent. 

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