Crypto_McKenna

Dinari has secured the very first broker-dealer license approved by FINRA and SEC for the trading of tokenised equities and ETFs 1:1 backed.

The is the first company that can now offer tokenised US equities to US citizens.

This is a massive deal.

https://www.reuters.com/sustainability/boards-policy-regulation/dinari-granted-first-broker-dealer-registration-offer-tokenized-stocks-2025-06-26/

Saylor slowing down in rate of BTC purchases whilst price gets bid up by ETF flows.

Reminder there are real buyers at $100K outside of Microstrategy and it's other imitators.

Doubt these type of flows is something you see at a cycle top.

$BTC

The AI vertical in crypto is refusing to show any sign of strength and majority of the assets here are in a perpetual bleed.

What I remain most excited on going forward is the prospect of decentralised training with protocols like Prime Intellect and Nous Research.

Believe both are absolutely stellar and will crush it on secondary when they launch. But for now there are maybe 1-3 assets worth buying.

Meanwhile NVDA marches to all time highs.

This is a range bound environment and the orderbook shows it.

Possible July is another slow month for $BTC whilst most Alts continue to bleed.

Q3/Q4 will be positive for risk after a slow summer comes to an end with plenty of exciting TGEs.

$BTC above $108k and off to the races imo

Just like traditional equities teams that fail to find product-market fit, build a moat around the product and generate meaningful revenue will die.

The difference between equities and crypto though is the following:

[1] Tokens time to liquidity is heavily accelerated compared to traditional IPOs meaning you have a bunch of shit launching that will rally and bleed to zero never coming back washing out retail.

[2] The bifurcation of value between equity and token which makes it increasingly difficult to invest directly in the token.

The above is why Hyperliquid is going to $100.

$HYPE

Based on my mean reversion and linear regression indicators we currently sit just above the 1D mean meaning there is virtually zero over extension in price at $106k.

Overextension for price now sitting at $125k expecting a slow grind up towards previous all time high then vol to really kick in as we smash through it.

$BTC

Study relative strength.

$SYRUP

Made strong case for a local bottom yesterday and price has reclaimed many of the lows.

Remain constructive for upside across the rest of 2025.

Oil nuking and BTC forming a higher low on bad news.

These 3 drives of retesting the lows is usually where we really test demand and sets up for higher prices.

Same exact setup at $100.6K as we seen at the $78K lows.

Observing the situation

$BTC

I think if the GENIUS Act is passed by the House then we should see for the first time this cycle attention shift from Bitcoin to Ethereum.

Believe the last few weeks of ETH ETF flows have been indicative of this sentiment with ETHBTC looking constructive for the first time in over a year.

Vitalik Season

Not a bad spot to bid $HYPE here if you ask me.

Orderbook for Bitcoin looking healthy below here.

$BTC

After they close the strait of Hormuz next major geopolitical event is the rebuilding of the third temple of Solomon and the coming of the Anti-Christ.

Make sure to long Bitcoin

A crypto portfolio should consist of 2-4 assets maximum with 20-50% concentration.

During the beginning of crypto there was never more opportunities to make money.

Now there has never been more opportunities to lose money. Perpetual bleeds and shady backdoor deals.

Sad to see

Great read for those interested in learning more about DPRK Malware:

https://www.huntress.com/blog/inside-bluenoroff-web3-intrusion-analysis

Hyperliquid is the largest revenue generating protocol in the space generating $792M annualised based on the last 30 days of fees.

All directed to a token buyback mitigating the downside of those looking to take profits with a stacked orderbook below of fresh buyers.

Higher prices requires a change of hands whether it be the AF or new entrants. No doubt we see $60 $HYPE and higher some time this year.

BTC orderbook now seeing strong bids from $100-98k expect we end up trading there and waiting to see reaction.

The only thing genuinely worth bidding is Hyperliquid we basically have a single asset that is generating real revenue, growing consistently MoM and directing that revenue via buybacks.

The absolute shamble of crypto secondary where Bitcoin and Hyperliquid and the only real stellar assets I feel comfortable holding for longer than a year.

Jeff Won.

Hyperliquid

$HYPE