⌛️ Tick Tock: 9 Hours Until Unlock

🗞 Market commentary.

GM, are you bullish?

Let’s leave the Trump and celebrity coin circus to the trench warriors today and zero in on the real deal: the Bitcoin monthly close. We can confidently say that this month closes out positively—unless we nosedive below sixty grand in the next 12 hours. That said, according to Eric Krown’s crystal ball, a positive monthly closure for May historically signals a very bullish June, especially during election years. 

Everything is moving on accordingly regarding the wider crypto mood (except for the celebrity-fearing top callers). Hong Kong is publicly voicing support for DeFi, and the  SEC is trying to make the ETH ETF issuers get their S-1 application drafts done as soon as today, which is eerily reminiscent of the Bitcoin ETF processes. 

The only dark cloud is a looming threat over a long list of altcoins, that are due to experience quite large unlocks in about 9 hours. You can check the full list here. 

📊 Luke’s Chart of the Day

TNSR/USDT 4H Binance Log Chart

Tensor dropped the token on 8 April and has done a beautiful, high-timeframe, rangebound accumulation. After an early fakeout at the end of April, we now have another range break that looks more dependable.

The top-of-the-range at the $1 area has had a good S/R flip test, with a higher low yesterday and a little downtrend break today. I think we grind higher from here. There is not much resistance on the chart from $1.15 and up—just a little shelf at $1.40 and another one at $1.90.

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!

🔥 Degen corner.

Based Banana Zone

There’s been little to degen about lately other than memecoins, and as far as those go, we’re entering a Banana Zone right now on Base. 

A swift scan of the Dexscreener Base tab reveals the place has been bathing in gains over the past few days. 

There is one particular favorite of mine on this blue chain, and surprise surprise, it’s red, and it’s Based. It’s also the first mover in what the Basedmilio proponents call “SkullFi.”

Not financial advice, but let me leave you with this nugget: it’s my sole Base memecoin holding for now. Spotting real cults early is the game’s secret sauce. 

Basedmilio. 

👀 DeFi insights.

The important bits.

• Persistence One (DeFi) - New XPRT governance proposal is live - read

• Core DAO (Bitcoin DeFi) - Bitcoin staking is only the beginning - read

• IntentX (DEX) - INTX token now available on Merchant More - read

• Skillful AI (AI) - SKAI token is now live and available - read

• io.net (GPU, AI) - Introduces Season 3 - read

• Arena (SocialFi) - Sets out airdrop plans - read

• Aave (DeFi) - Achieves larger TVL than all L2 chains - read

📰 DeFi news.

Even more important bits.

• Nansen deems DBS as Ether whale with $650 Millon ETH - read

• US M2 money supply is now positive YoY for the first time since November 2022 - read

• Fed’s Williams: “We don’t need to be at 2% inflation to cut rates” - read

• LayerZero makes ‘Mainnet Beta’ debut on Solana - read

• Vitalik donates $111k ETH to Tornado Cash devs’ legal defense fund - read

• SEC told spot Ethereum ETF issuers to get first round of draft S-1 forms - read

• A16Z tops up crypto election fund by $25 mil - read

🐥 Tweet of the day.

To save you doom scrolling.

These celebrities need to spend a tiny bit more time in crypto to be able to play this game, just an idea…

🦍 And finally…

Top signals from past bull runs rarely play out in the current one. Even though the celebrity pump-and-dumps are an eyesore, if everyone’s ranting about a top, it’s probably a false alarm.

Bull markets don’t peak when everyone’s calling it. Good luck out there!

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