👀 Is The Good Old ETH & Altseason Back?

GM, it is my pleasure to announce that we’re so fucking back.

It seems like almost overnight, everything started easing. Trump is now planning to slash China tariffs to as low as 50% from 145% as soon as next week, Bitcoin ripped almost back to ATHs, and it’s like the last few months were nothing but a bad dream.

The strength of crypto at this moment is nuts. To demonstrate, check out how BTC now sits firmly above the all-time high BTC/SPX ratio. Truly, the best market in the world.

In typical fashion, this whole move happened while the sentiment stayed largely bearish, with most of the money still sidelined. Right now, it really feels good to provide you with all the hopium for the past few months, especially seeing the M2/global liquidity outlook aligning perfectly.

To almost everyone's surprise, the day's highlight is not Bitcoin but ETH. The ETH/BTC ratio has now exited the parabolic downtrend, ETH has flipped back into its deflationary mode, and the timeline is already looking for the next big upgrade by year’s end, Fusaka.

Now, there will surely be pullbacks after historical moves like these. While fomoing the largest candles we’ve seen in a good while is certainly not advised, getting overly bearish again isn’t either.

The TOTAL2 chart broke above a significant level, and if it retests successfully, there’s much more fun coming our way. Enjoy!

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The important bits.

• Magic Newton launches the first verifiable AI agent, try it out here

• Premia Blue explains their full onchain options trading product, read here

• Somnia distributes another batch of rewards, check your allocation here

• Shadow Exchange got $1,845,473+ rewards in one epoch, check available yield here

• Peapods Finance offers 100% APY on USDC and ETH lending, check vaults here

• Backpack exchange announces SOL lending, earn 12.24% APY here

Even more important bits.

• Coinbase publishes company highlights of Q1 2025, read here

• Meta is reportedly exploring stablecoins again to reduce global payment costs

• Coibase is acquiring crypto derivatives exchange Deribit in a $2.9B cash-and-stock deal

• Treasury Secretary Bessent says crypto needs US leadership to thrive globally

• Celsius’ Alex Maschinsky gets 12 years jail for crypto fraud

• Bitcoin to be completely exempt from capital gains tax under bill passed in Missouri

• US Federal Regulator says regulated banks can buy, sell and custody cryptocurrency

Charts and stats of the day.

• Bitcoin surpasses Amazon to become the 5th largest asset in the world by market cap

• Trump bought $3,500,000 ETH

• Hyperliquid reached a new all-time high in open interest of >$4.9B

• $92,000,000 ETH left Binance and Kraken, showing whale accumulation

• Nasdaq QQQ gets back above its 200 Day Moving Average

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DOGEUSDT 1D Binance Ichimoku Cloud

DOGE with a cloud entry - I am looking for that big, flat top edge to hit in the purple box. I’ve seen countless setups like this play out over the past week. AAVE, ENS, ETC, LINK, MOG - all in progress or completed. Make sure you have the right settings. The default ones are not reliable for crypto, and higher timeframes (1D) work best.

What are those white trendlines you say? We need to zoom out to see those. It’s the old LIvermore Cylinder making a reappearance. These have not really hit since we had some bullish liquidity and the ETH trade ran to $4k last year. That top trendline would put us at no.8. Seems almost impossible that this plays out.. or is it?

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:

Ethereum smart-money movements:

HyperEVM breakout memes.

Hyperliquid EVM ecosystem feels like early Solana onchain, around November 2023. The great thing about being early to these is that it’s much easier to spot the first strong names, taking over almost all of the chain’s mindshare.

For now, we’ve got these on HyperEVM:

• Buddy - clear number one, staple for all Hypios and clearly one to stay

• Rub - airdropped to Hypio NFT holders, strong reverse unit-bias narrative

• EVM - much riskier currently and might not recover, careful

To save you doom scrolling.

It truly does feel like this. GG.

Trump called the bottom, now he’s calling for continuation, telling us all it’s a great time to rebuy stocks. Biden would never do this for us, would he?

stay safe homies,

Hix0n 🫡