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Back to square one: Hormuz tanker crossings are not recovering, joyful ETF Wednesday turns into a bitter Thursday, oil continues to pump, but hey, at least we can look forward to Iran deal number 248 or something, per Trump. GM.
All in all, despite these headlines, BTC still hovers around $63K. Everything we went over yesterday and in the days prior remains unchanged, and that, in my opinion, is an excellent sign.
As long as BTC holds above these levels (a dump below $61K wouldn't be a good sign, to be fair), I simply choose to remain optimistic. In case you missed our episode going over 4 pieces of evidence that this area for BTC might, in fact, become a macro bottom, read and combine it with the hopium-inducing charts we've got lined up for today.
First of all, the BTC Percent Supply in Profit chart here is flashing a bottom signal, looking precisely like those that marked the FTX lows, the COVID dump, and even the post-2017 bear market bottom.
Similar data can be seen in Glassnode's Long-Term Holder Realized Loss Chart, though here it seems we still have some work to do. This goes hand in hand with what we flagged yesterday - price capitulation might be over, but it doesn’t mean a true upside trend is anywhere near.
Then, of course, the old RSI. This one currently says things are even worse than during the COVID crash, which was still the most brutal crypto price event I’ve seen to date.
I mean, even Charles Schwab is now saying that Saylor selling Bitcoin is a good sign for the long term. Saylor sold, market pumped. Perhaps it’s as simple as that? We shall see, obviously, this is a complex discussion with a lot of moving parts, but things tend to work out in funny ways in crypto.
The last thing looming is the interest rate situation in the US, still debatable. Yesterday's FOMC minutes hinted at possible rate cuts, but Warsh refuses to provide any forecast. I have a feeling the fears of a rate hike are overblown, but let’s see.
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The important bits.
Nado now offers boosted xPoints on Nado trading xStocks, read here
Korean KOSPI market drama explained in a new TrueNorth article, read here
Swap Royale is preparing to onboard the next wave of users on Base, watch here
world has made the decision to migrate off of Solana and onto the Robinhood chain, read here
Curve Finance Recap of May-June is out, read here
Aave market for stcUSD on megaeth has reached its supply cap for the third time this week, read here
FX100 is now hiring traders, join here
Nest Exhange rewards $188,000 to LPs during one weekly epoch, see here
Aave V4 is now formally verified by Centora, read here
Berachain hardfork has successfully completed (PoL Next), explained here
Rysk V12 expands to Ethereum mainnet, announcement here
Even more important bits.
Bitwise announces HYPE has been added to the Bitwise 10 Crypto Index ETF ($BITW), read here
Japan's Sony Bank has secured conditional approval to set up a U.S. national trust bank to issue a dollar-backed stablecoin, read here
Coinbase just launched an incentive campaign on their Steakhouse High Yield Vault, matching Robinhood Earn's 7%, read here
Federal Reserve says a few officials support raising interest rates, read here
Base B20 Native Token Standard goes live, read here
DeFiLlama launching offchain attestation/verification service, read here
Charts and stats of the day.
A user lost $999,999 in USDT on Ethereum after signing a phishing token approval, according to Scam Sniffer, read here
Is HYPE getting weaker here? Chart here
Magnificent 7 Stocks are now trading at their cheapest valuation relative to the S&P 500 in more than a decade, chart here
Tokenized stock transfers surge 105% in a month to $8.4B, with holders up 17% to over 409,000, chart here
Robinhood’s choice to deploy on Arbitrum paid off - metrics are up only, charts here
Robinhood chain also saw 141,000+ NEW wallets active yesterday, chart here
Tokenized equities saw a record $3.4 billion in volume for the month of June, chart here
Robinhood chain has done nearly 1/3 of Solana's spot DEX volume in the last 24 hours, read here
Hedge Funds have now built the largest Japanese Yen short position since the run-up to the Global Financial Crisis, chart here
Nest the only HyperEVM token to distribute over $100k in revenues this epoch, read here
Lastly, our daily Telegram bulletin is back! Join in right here and stay on top of everything, every day.
Robinhood Meme Season and ANOTHER New L1?
In just a few days since we featured Robinhood Chain Guide, this has happened. Proper cook, it seems.
The AI news & updates.
The first app-specific quest in the xPoints program is live, and it's on Ink, announcement here
Ivy League professor suspected AI cheating, ordered an in-person final, & saw average scores plunge from 96 to 48, read here
President Xi Jinping says China will prioritize the development of the AI and chip sectors, read here
Grok 4.5 lands, SpaceXAI and Cursor's first jointly trained model, read here
GPT-5.6 Sol launches today, GPT-6 is one month out, read here
Anthropic commits $50B to US data centers + Fable 5 promo extended to Jul 12, read here
Microsoft pivots away from OpenAI/Anthropic models in Copilot apps, read here
AI Charts and stats of the day.
Datacenter construction growth is slowing, chart here
$1.05 TRILLION has been wiped out from SPCX as it crashes -36% in the last 22 days, chart here
Agentic AI continues to see rapid growth, chart here
EigenCloud (EigenLayer) token up 12.8%, strongest performer in AI & Big Data category today, read here
The AI tutorials of the day.
Single script to run a pre-jailbroken iOS virtual phone, available here
Mission control dashboard for AI agents, read here
Anthropic just released 5 Claude workshops on the new skill every AI builder needs: Loop Engineering, watch here
AI Articles of the day.
China builld a parallel AI system, here’s how to trade it, article by TrueNorth here
Nvidia loses $1T in market cap in under two months, chart here
Is to read up on the crypto card you’re using, it might not be what you think!
I'm sticking with Plasma One, easy to create using our link right here. Enjoy!
Prime Intellect (open-source AI training at scale) - raises $130M at $1B valuation
Monogram (iOS app replaces text walls with "instantly generated interfaces") $40M in seed funding
Well, well, well. Cycle rotation pending.
Little farewell speculation: An estimated 49.6 million American adults own Bitcoin. How many hold our precious, next-gen technology altcoins? Choose wisely, but choose.
If this was useful, forward it to one person sitting on the sidelines right now. That's how this thing grows. MUCH appreciated.
Hix0n 🫡
