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- 🤡 Memecoins Smashed All Other Coins
🤡 Memecoins Smashed All Other Coins
PLUS last chance to get Hyperliquid points, we know how!
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GM, enjoying the bounce action?
Well, let's pray it lasts. Arthur Hayes, for instance, predicts another round of selling, driven by overleveraged dead TradFi whales emerging this week. Will another massive sell-off prompt emergency action from the FED, whether it's an emergency cut or a liquidity injection?
For all we know, if that happens, we better try to long that panic (as safely as possible).
One factor suggesting upcoming chop rather than further downside is the massive open-interest flush and wave of liquidations in the perpetual market. This move was the nastiest since the FTX collapse at the end of 2022. Is there really some juice left to push us down in any significant manner?
Another thing to mention and watch on a day like this is the nature of the bounce. Which are the strongest markest here? In simple terms: meme coins, specifically Mog Coin and Retardio. If you want to see where the attention and strength are, they’re simply here, and they will likely stay here until the end of this bull run.
Lastly, Jim Cramer sees a continuation of the sell-off as well. Are we saved? We might just be…
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BTC/USDT 1W Log Chart + Liquidity
This $BTC chart is overlaid with the three key liquidity metrics that drive our magic internet bull runs. In grey, overlaid with the BTC price you have the MOVE index - a bond volatility metric. Ideally you want this lower - below 95 is good. The more bullish story is the two other metrics below.
In white is Chinese (PBOC) liquidity injections. These look bottomy and are ticking up. Michael Howell’s reporting confirms this. The bottom is Net USD Liquidity.
Note how spikes lower have come within a week or two of big $BTC run-ups. Given the current crash, the Fed is now likely under pressure to ease.
NFA as per usual, please always do your own research.
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!
Hyperliquid Point Game Continues
During yesterday’s chaos, Hyperliquid’s quality and rapidly growing user base shone through, and its 24-hour volume hit a new all-time high of $4.3 billion.
The ongoing validation of Hyperliquid’s product-market fit only boosts hopes for the already promising airdrop. For me, this means ramping up my point-making strategy.
Right now, I see two very undervalued and hopefully bottomed out spot markets: PANDA and PILL.
PANDA is the most advanced community coin on Hyperliquid, and PILL is a true micro cap meme bringing very good meme content. Both of these coins will likely end up on the Strict List, a category for coins that have proven their worth and maintained trust.
All in all, trading new spot coins with even minimal volume yields great point rewards, and the potential for a nice 10x return is very attractive to me.
Be careful, though! These are real microcaps. Don’t use too much size, especially size which you cannot afford to lose. See you in the order books.
BTC/USDT 1W Log Chart + Liquidity
The important bits.
Even more important bits.
Vitalik outlines the next steps for L2 interoperability / chain abstraction - read
Metaplanet announces ¥10.08 billion proceeds to fund additional purchases of BTC - read
Morgan Stanley's 15,000 wealth advisors will start pitching clients to buy BTC ETFs - read
$9.8 million sent from Ronin to MEV Bot, bridge paused - read
Tezos co-founder calls Bitcoin ‘pretend-money’ - read
Life gets busy so here’s what you’ve missed.
Trendless Tuesdays with Luke
Technical Analysis
Looking at the chaotic tradfi & crypto markets - what can we read into today's developments?
Tune in on YouTube →
To save you doom scrolling.
Here’s a perfect little dose of hopium for the Covid fractal bros from Eric Krown!
These two days provided such a great learning lesson. If you’re experiencing something like yesterday’s market crash and today’s bounce for the first time, remember this: it ALWAYS happens like this. Always, period.
If everything sells off so brutally, with markets being -40 % down daily, you can be sure of two things: you will cry if you sell the bottom, and you will make the quickest return possible if you buy the peak panic.
stay safe homies,
Hix0n 🫡
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