GM, it’s time to pray for a dip.
Right now, the market just refuses to let anyone on the sidelines get in—even slightly lower prices remain out of reach. The strength across the board is undeniable.
Still, as Luke mentioned on today’s Shitcoin Church episode, if a pullback is coming, early June is the most likely window. Historically, in strong bullish conditions, we tend to see a local bottom form in the first week—or by the start of the second week at the latest—before resuming the move higher.
Once again, if BTC drops below $107k (happening now), the chances of a pullback period increase. That said, it’s hard to imagine a move below $100k in the current setup.
However, if we do get a higher timeframe close under $100k in the near future, we need to acknowledge that it significantly raises the odds of a choppy, drawn-out summer. And importantly, a prolonged sideways/downtrend doesn’t signal the end. It signals opportunity.
On the macro side, we just got the usual dose of tariff drama, with judges trying to ban Trump from applying tariffs, and not even a day after getting their decisions overturned. Nothing ever happens.
Now more than ever in this cycle, it’s time to start focusing on the ETH/BTC ratio. If there ever was a year for ETH's comeback, it’s 2025. We can already see the ETF inflows picking up big time. More on this below in the Degen Corner.
👇 And if you haven’t yet, hit subscribe below 👇
The important bits.
Giza AI agents reached +67% performance on stablecoins, read more
Somnia features a new MMORPG game Pixscape, play here
INFINIT crypto research is now available, try prompting and researching here
Premia features “The Portfolio Margin system (Kyan)”, learn more here
Sophon announces “Sophon Home Beta”, secure your position early here
Magic Newton's agentic AI project summarizes big news from past week, read here
Tari’s token XTM is now live on Ethereum mainnet, check contract address here
Upside increases spot
FXN Protocol joins OPEN Stablecoin Index, read full proposal
Even more important bits.
Bybit was granted a MiCa license in Austria
US Labor Department withdraws 2022 warning against crypto in 401(k)s
Pakistan announces to establish a Strategic Bitcoin Reserve
New York City plans to issue Bitcoin Bonds
BlackRock is reportedly planning to acquire up to 10% of Circle’s IPO shares
Russia’s central bank has approved limited crypto derivatives trading
Elon Musk is officially exiting the Trump administration
Circle has frozen $58M in USDC tied to wallets involved in the Libra memecoin
Peter Schiff says he is responsible for more people buying Bitcoin $BTC than anyone
Charts and stats of the day.
Nvidia reports $44.1 billion in revenue, higher than expectations
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.
It is basically blocmates for AI!
As a special welcome bonus, and a thank you, when you sign up, we will send you private access to the Big Machines telegram chat, which is filled with builders, founders, investors, and AI nerds.
Send the Big Machines main account a message on Twitter/X showing that you have subscribed, and we will send you the link.
ENAUSDT 1D Binance
ENA looking good here. Don’t be sidelined on the secular stablecoin bid that everybody from JD Vance to Bessent to the Orange Man is telling you is coming. USD stables need to go to exponentially higher market caps for them to be a meaningful treasuries bid (I know ENA is not backed by treasuries, but many stables are). This is how the Trump admin plans to rescue the treasury market and by extension, the USD as global reserve currency.
ENA is likely a great proxy for that trade, and I’m just today learning that Blackrock are heavily involved with the protocol. Also, Ansem has started shilling it, and whatever your opinion is of him, that is going to count. Personally, I think he’s been great - elite trader and great researcher - but I fade all his low-cap meme shills. He’s been right with almost all his big cap trades, from SOL at $12, to PRIME and GRASS, to calling the Q2 top last year.
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!
Solana smart-money movements:
Source: ChainEdge
Ethereum smart-money movements:
Source: ChainEdge
ETH Beta season.
It’s becoming increasingly clear that the next phase of this bull market will be defined by a resurgence in ETH/BTC strength, paired with the rise of the stablecoin narrative.
I’m not saying ETH is going to moon overnight, but the outlook for the rest of 2025 is definitely looking strong. It’s worth knowing which “ETH beta” plays tend to perform best in that kind of environment.
Personally, I’m starting to build long-term positions in coins like (not financial advice):
To save you doom scrolling.
This is the best crypto cycle yet. Prove me wrong.
Speaking of ETH’s comeback, simply watch this video if you don’t believe in it.
In our industry, these types of signals are more important than any fundamental or technical analysis.
stay safe homies,
Hix0n 🫡
