🥵 Bitcoin Is Overheating!

GM, the bulls are getting hornt.

And deservingly. BTC is trying to bust through $95k as we speak, while many altcoins hover around pretty damn inviting levels accompanied by bullish divergences. Bulls stay in control if Bitcoin holds and closes daily candles above $92k.

After a while, the current crypto comeback has also been supported by ETF inflows, at least on the Bitcoin side. Fellow cousin Butterin will have to wait (again). Perhaps we can finally reverse the ETH/BTC chart around the start of May, when the Pectra upgrade gets deployed? One can hope.

As always, even if you’re mega bullish, keep the darker scenario in mind. If there ever was a place for a pullback, it’s either from here or slightly higher. Retesting somewhere around $88k wouldn’t surprise me one bit.

The upcoming pullback scenario could coincide with a dip in US indexes—SPX is currently hovering under a very important level.

Back to the bullish propaganda, it’s nice to see BTC truly following the now notoriously known M2 money supply chart. BTC might head to ATHs sooner than expected if this relationship stays healthy.

Compared to the start of April, the vibe definitely shifted. It always does.

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The important bits.

• Superseed announces team expansion, adding new members

• Maia DAO announces new gauges, check here

• Ramen Finances’ LAIR presale on Berachain is live

• Somnia adds 30,000 extra points to the current rewards pools

• Ionet achieved SOC 2 compliance, achieving institutional-grade security

• Yeet on Berachain announces important changes and upgrades

• Pendle now supports sDOLA stablecoin by Inverse Finance

• Kodiak, the main Berachain DEX, announces new reward vault with LAIR

• WhyNotHigher on Berachain reached $10m TVL

• EtherFi announces 8% stablecoin spendable yield for credit cards

Even more important bits.

• Trump says “Yep, I called President Xi”

• Tether announces a 10% stake in Juventus Football Club

• PayPal announces new collaboration with Coinbase

• Peaky Blinders TV series announced a new Web3 game

Charts and stats of the day.

• HyperEVM application layer is rapidly growing

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BERAUSDT 4H Binance Ichimoku Cloud

Another cloud chart today. These setups are working nicely at the moment. The $GRASS one we shared yesterday has squeezed nicely. I’m targeting $2 for that trade, and the $VIRTUAL chart of the day (yesterday) is also up about 20%, on its way to a $1 target. Here’s Josh Olczewicz with a great edge-to-edge explainer. Be sure to implement his cloud settings.

$BERA fell dramatically out of the range low on 6 April, and we’ve seen a lot of selling since then. Bears are now focused on the Boyco $BERA unlocks, but these only total 2% of the supply, and then we’re done with unlocks until February 2026. I think the bear case is overstated, especially after weeks of sustained selling. It actually provides a nice catalyst for a reversal to the upside.

On the technical side, price is trying to break into the 4H cloud. We just got a bullish TK cross, which is a nice confluence for entering a thick cloud like this, with a flat kumo top up at $5.60 to act as a magnet. $5.60 is also the old range low. This is a good, juicy move to target. We just need to hold in the cloud on a closing basis. It may take a while to get up top, but let us pray. I am long as of this morning.

Lots of bullish setups today, all charted in Discord and some that I’ve shared on Twitter.

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!

Current narrative leaders: Data | Modularity | Social-Fi | Game-Fi | AI-Agents.

The 3 best farms to deploy capital.

Markets are slowly waking up

Infrared Finance

Infrared just announced a point season that will last until TGE during Q3. There is still plenty of time to farm this one.

I believe no other project on Berachain will achieve the size of Infrared. As they say, “Infrared = Key”.

Also, BERA seems to be bottoming out, with the Boyco unlock coming up May 6th. There’s a lot of speculation and fear around this date. Personally, I believe it’s a bullish unlock.

HyperSwap

HyperSwap is molding into possibly the most promising airdrop on HyperEVM. With constantly rising volume and user base, I’m focusing on this one (BIG TIME).

My pool of choice is HYPE/PURR.

Don’t forget to grab a Hypio; it gives a point multiplier.

Initia

Initia just launched the INITIA token, and it’s off to a good start. Currently, there’s a cozy place to deploy USDC or ETH, with 1000%+ APYs on their main DEX vaults.

To save you doom scrolling.

This is the very long-term Cramer hopium we need. We’re so back.

stay safe homies,

Hix0n 🫡