🤔 If Crypto Summit=Sell The News, What Then?

GM, enjoying the schizophrenia?

Because that’s the only thing I “gained” from this market lately. Trump is flip-flopping on his tariff statements faster than the insiders can open positions on Hyperliquid, Bitcoin managed to complete an underside retest of $90k, while SPX continues to look horrible.

We’re simply in no man’s land where there’s nothing really to cheer on, and nothing much to be afraid of. Well, except maybe the S&P 500 closing under 5700, that’s something to watch for and could coincide with one more swipe under $80k BTC. And perhaps the odds of recession, which spiked up to 40% on Polymarket. Oh well.

If the next swipe down on BTC happens, it might as well occur in tandem with Friday’s Crypto Summit event, where Trump is supposed to announce the Bitcoin Reserve strategy. The good thing here (well, not for alts) is that Bitcoin will be put on a pedestal inside the U.S. Crypto Reserve, while altcoins remain secondary.

This basically confirms that Bitcoin Dominance is not done running yet, so if one or a few more swipes lower happen, altcoins will suffer more, as usual.

Nevertheless, once all these shenanigans are over, there’s undoubtedly some hopium to look for. Global liquidity is still looking to be on a positive track, and considering its usual lag, we can expect Bitcoin to catch up with it by the end of this month.

Moreover, the market is now pretty much sure that the second half of the year will be filled with rate cuts, and we all know how forward-looking markets can be. Easing in the US combined with rising global liquidity are simply not spelling the end of the bull market for me.

Lastly, the USDT dominance is getting a bit weak here, coinciding with critical bearish closes for DXY. If both of these continue lower, that’s even more fuel for risk assets to get bullish again.

Here’s to hoping, stay focused.

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Smart-money movements on Solana.

Smart-money movements on Ethereum.

Times may be tough in terms of price action, but AI mindshare is not going away, and the teams that continue to ship usually emerge victorious when the market eventually turns bullish.

Griffain is one of those teams, having just launched a natural language Solana staking widget in conjunction with Marinade. The chart looks like it’s somewhere between accumulation and building a bottom structure. It's up 30% today but still about 90% down from the highs at 0.62c.

Alchemist is a no-code platform on Solana that leverages AI to turn natural language prompts into functional applications. They have been running a series of competitions, each focused on a different area of AI disruption.

The latest ALCH-A-THON looks at the gaming meta. The goal is to use their app to build a game and submit it for judging before the 8th. Chart-wise, they’re in a similar spot to Griffain - down about 75% from the highs, but a little bit of volume has been coming in, suggesting the beginnings of a bottom structure.

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Core has been around for a while now, and we’ve written a handful of articles explaining why you should dual-stake your BTC instead of letting it idly stay in your wallet.

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To save you doom scrolling.

It’s been a rough couple of weeks. If you’re still alive, well done.

Times like these, we should all think a bit more like Larry Fink. It’s a simple way of life.

Itaone/status/1896975941433442478stay safe homies,

Hix0n 🫡