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having fun. #bitcoin class of 2017.
Slay your heroes, do your own research and don't blame others for your mistakes.
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This week $BTC got the BIGGEST regulatory win in its history (CLARITY 15-9) and
the price DROPPED. Most people read that as bearish. I read it differently: JPMorgan named BTC the winner Dartmouth bought $14.5M Mubadala added 16% White House SBR announcement in weeks Price followed macro. FUNDAMENTALS followed crypto. Those diverge short-term, converge long-term.
the price DROPPED. Most people read that as bearish. I read it differently: JPMorgan named BTC the winner Dartmouth bought $14.5M Mubadala added 16% White House SBR announcement in weeks Price followed macro. FUNDAMENTALS followed crypto. Those diverge short-term, converge long-term.
Kraken just cut 150 staff streamlining ahead of its planned IPO.
Context:
Seeking funding at $20B valuation
Ramping up acquisitions
Preparing for public listing
Layoffs before an IPO = cleaning up the cost structure to show profitability.
The crypto exchange IPO wave (Kraken, plus SpaceX June 11) is reshaping the sector.
$BTC
Context:
Seeking funding at $20B valuation
Ramping up acquisitions
Preparing for public listing
Layoffs before an IPO = cleaning up the cost structure to show profitability.
The crypto exchange IPO wave (Kraken, plus SpaceX June 11) is reshaping the sector.
$BTC
$BTC key levels after the macro flush:
$80K reclaim = CLARITY thesis back on track
$79K = current battle zone
$78,600 = Friday low (held so far)
Below $78K = deeper correction to $74-76K
Below $74K = bear flip
The $78,600 low is the line in the sand. Hold it = healthy. Lose it = caution.
$80K reclaim = CLARITY thesis back on track
$79K = current battle zone
$78,600 = Friday low (held so far)
Below $78K = deeper correction to $74-76K
Below $74K = bear flip
The $78,600 low is the line in the sand. Hold it = healthy. Lose it = caution.
Why did $BTC drop despite the CLARITY win?
The macro picture:
Bond yields surged (10Y spiked)
Inflation fears resurged (PPI 6%, CPI 3.8%)
Traders now price possible Fed rate HIKES
Oil above $100 (Iran tensions)
Crypto, stocks, gold ALL fell together. This is a macro regime, not a crypto problem.
$BTC 's catalysts are intact. The macro just needs to cool.
The macro picture:
Bond yields surged (10Y spiked)
Inflation fears resurged (PPI 6%, CPI 3.8%)
Traders now price possible Fed rate HIKES
Oil above $100 (Iran tensions)
Crypto, stocks, gold ALL fell together. This is a macro regime, not a crypto problem.
$BTC 's catalysts are intact. The macro just needs to cool.
Abu Dhabi sovereign wealth fund Mubadala just disclosed a 16% INCREASE in its Bitcoin ETF position. New total: $566 MILLION in $BTC ETF exposure (Q1 2026). Sovereign wealth funds the most conservative capital on earth are ADDING to BTC during the dip. While retail panic-sells the macro rout, sovereigns accumulate.
Strategy ($MSTR ) announced it will repurchase $1.5 BILLION of its 2029 convertible
bonds.
The plan: retire half of its outstanding 0% 2029 converts.
Funding source: cash OR $BTC sales.
This is Saylor RESTRUCTURING liabilities cleaning up the balance sheet.
Smart treasury management or stealth BTC selling? Watch the execution closely.
bonds.
The plan: retire half of its outstanding 0% 2029 converts.
Funding source: cash OR $BTC sales.
This is Saylor RESTRUCTURING liabilities cleaning up the balance sheet.
Smart treasury management or stealth BTC selling? Watch the execution closely.
Winklevoss twins just gave Gemini a $100 MILLION $BTC infusion.
Result: Gemini stock jumped 25%.
The numbers:
Revenue +42% YoY to $50.3M
Net loss narrowed 27%
Still losing money but improving fast
The Winklevoss bet: pump BTC into the balance sheet, ride the recovery.
Treasury strategy meets exchange business.
Result: Gemini stock jumped 25%.
The numbers:
Revenue +42% YoY to $50.3M
Net loss narrowed 27%
Still losing money but improving fast
The Winklevoss bet: pump BTC into the balance sheet, ride the recovery.
Treasury strategy meets exchange business.
Arkham data shows over $1 BILLION in $BTC left wallets attributed to
Bhutan.
But Bhutan says: "We don t recall selling ANY bitcoin."
Two possibilities:
1. Wallet attribution is wrong
2. Internal transfers misread as sales
Lesson: on-chain analytics is powerful but NOT infallible.
Bhutan.
But Bhutan says: "We don t recall selling ANY bitcoin."
Two possibilities:
1. Wallet attribution is wrong
2. Internal transfers misread as sales
Lesson: on-chain analytics is powerful but NOT infallible.
$HYPE led 24-hour gains while the rest of crypto bled. The catalyst stack: Bitwise launched a spot Hyperliquid ETF Coinbase expanded role as Hyperliquid s official USDC treasury Hyperliquid still ~70% of on-chain perps When everything dumps and ONE asset pumps, that s relative strength. $HYPE is building its own institutional lane.
$RUNE just got exploited; over $10 MILLION drained in a multi-chain attack.
On-chain investigator ZachXBT flagged it. THORChain HALTED trading.
This is the 2026 pattern repeating:
Cross-chain infrastructure = the weakest link
After Drift ($295M), Kelp ($292M), now THORChain
DeFi keeps re-learning the same bridge security lesson. Self-custody on battle-tested
chains. $RUNE
On-chain investigator ZachXBT flagged it. THORChain HALTED trading.
This is the 2026 pattern repeating:
Cross-chain infrastructure = the weakest link
After Drift ($295M), Kelp ($292M), now THORChain
DeFi keeps re-learning the same bridge security lesson. Self-custody on battle-tested
chains. $RUNE
White House adviser Patrick Witt at Bitcoin 2026: "A BIG ANNOUNCEMENT on the US Strategic Bitcoin Reserve is coming WITHIN WEEKS." What we know: Framework from an executive order Will clarify the reserve s legal status Currently holds SEIZED bitcoin May enable accumulation WITHOUT taxpayer funding Sovereign $BTC adoption; the real catalyst is weeks away.
$500 MILLION in $BTC longs got liquidated overnight.
The worst long-squeeze since late March.
What happened:
Global bond selloff
Worst US stocks session since March
Leverage that built up during the CLARITY rally got flushed
BTC open interest dropped from $27B to $25.5B.
Painful but a deleveraged market is a HEALTHIER market.
The worst long-squeeze since late March.
What happened:
Global bond selloff
Worst US stocks session since March
Leverage that built up during the CLARITY rally got flushed
BTC open interest dropped from $27B to $25.5B.
Painful but a deleveraged market is a HEALTHIER market.
Dartmouth College just allocated $14.5 MILLION to spot crypto ETFs. Breakdown: $7.7M in BlackRock s iShares Bitcoin ETF Rest in $ETH ETFs From a $9 BILLION endowment Dartmouth follows Harvard into crypto. When Ivy League endowments; the most conservative money in finance; buy $BTC , the legitimacy debate is OVER.
JPMorgan just named $BTC the clear crypto WINNER. Analyst Nikolaos Panigirtzoglou s report: BTC has the FASTEST recovery in spot ETF flows Strongest CME futures positioning Outperformed $ETH and altcoins since 2023 "No near-term catalysts to break this trend" Even in a macro selloff, the biggest bank on Wall Street says BTC is the institutional pick.
$BTC just gave back ALL its CLARITY Act gains.
From $82,000 Thursday to $78,600 Friday: a 4% drop.
But this wasn t a crypto story. It was MACRO:
Bond yields surged
Inflation fears returned
Traders now bet the Fed may HIKE again
$500M in leveraged longs liquidated
The CLARITY pass didn t fail. The LEVERAGE got flushed. Different thing entirely.
From $82,000 Thursday to $78,600 Friday: a 4% drop.
But this wasn t a crypto story. It was MACRO:
Bond yields surged
Inflation fears returned
Traders now bet the Fed may HIKE again
$500M in leveraged longs liquidated
The CLARITY pass didn t fail. The LEVERAGE got flushed. Different thing entirely.
Everyone is celebrating CLARITY pass + Warsh first day + Schwab launch.
But the REAL signal of THIS WEEK isn t $BTC at $82K.
It s that 3 mega-events aligned in 3 days:
1. Senate Banking 15-9 historic vote (Wednesday)
2. Warsh confirmed pro-crypto Fed Chair (Thursday)
3. Schwab opens spot crypto to $12T client base (Thursday)
This is the institutional unlock written in real time. $BTC $ETH
But the REAL signal of THIS WEEK isn t $BTC at $82K.
It s that 3 mega-events aligned in 3 days:
1. Senate Banking 15-9 historic vote (Wednesday)
2. Warsh confirmed pro-crypto Fed Chair (Thursday)
3. Schwab opens spot crypto to $12T client base (Thursday)
This is the institutional unlock written in real time. $BTC $ETH
SOBER take on CLARITY pass; important context: Committee vote: 15-9 (PASSED!) But: largely partisan (only 2 Dems crossed) Alsobrooks: "committee yes does NOT guarantee floor yes" Ethics provision still unresolved TD Cowen gives just 30% chance of full passage 2026 The hard work isn t done. Memorial Day deadline May 21. 50 days to July 4th. Optimism YES. Naivety NO. $BTC
WINNER of CLARITY week: stablecoins. The bill confirms: 1:1 reserve mandate (transparency) Activity-based rewards permitted Passive yield banned (anti-deposit-flight) Banking lobby attack failed Result: $USDC , $USDT positioned for institutional adoption at scale. Circle ($CRCL ) Q1 earnings May 11 already showed strength. Now the regulatory floor
is set.
is set.
$BTC technical update post-CLARITY:
Spiked to $82,000 (+2.8%)
Reclaimed $80K support cleanly
Next resistance: $84K (Inverse H&S target)
Citi $143K target activated
But: 7 weeks of ETF inflows ($3.43B), Warsh transition risk (BTC has dumped on every
Fed Chair change since 2014).
Cautious optimism. Don t chase.
Spiked to $82,000 (+2.8%)
Reclaimed $80K support cleanly
Next resistance: $84K (Inverse H&S target)
Citi $143K target activated
But: 7 weeks of ETF inflows ($3.43B), Warsh transition risk (BTC has dumped on every
Fed Chair change since 2014).
Cautious optimism. Don t chase.
Crypto industry leaders reacting to CLARITY pass:
Brian Armstrong (Coinbase): "Major step for the industry"
Brad Garlinghouse (Ripple): "Let s get it done!"
Dante Disparte (Circle): "Meaningful bipartisan progress"
Cody Carbone (Digital Chamber): "Deal will be completed before floor"
a16z: "Strong supporter"
Every major crypto voice aligned. This is the rare moment of industry unity. $BTC
Brian Armstrong (Coinbase): "Major step for the industry"
Brad Garlinghouse (Ripple): "Let s get it done!"
Dante Disparte (Circle): "Meaningful bipartisan progress"
Cody Carbone (Digital Chamber): "Deal will be completed before floor"
a16z: "Strong supporter"
Every major crypto voice aligned. This is the rare moment of industry unity. $BTC
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