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OVERVIEW

Crypto Green, Traders Emotionally Confused And Mildly Suspicious 😐️

Source: Giphy

Before we dive in, here’s today’s crypto market heatmap:

Source: Santiment

And here’s a look at crypto’s total market and altcoin market cap charts:

Source: TradingView

NEWS IN THREE SENTENCES
Crypto News 📰

✴️ Trump’s WLFI: $590 Million Says DeFi Isn’t Dead

Critics can roll their eyes at a Trump-led DeFi venture, but $WLFI just bagged a token sale worth nearly $590 million. Whitelisted participants snapped up the initial offering, then demand skyrocketed once Trump won in 2024. Now the project’s multi-million-dollar crypto portfolio might leave doubters wishing they’d jumped on board earlier. CryptoSlate.

💰 Bitcoin Treasury Bonds Go ETF

Rex Shares debuted a convertible bond ETF for companies loading up on $BTC.X ( ▲ 4.8% ), giving everyday investors a shot at debt-turned-equity in the next bull run. Strategy ($MSTR ( ▲ 13.0% )) alone takes up over 80% of the fund’s weighting, bragging about billions in BTC acquisitions. Anyone still complaining about “lack of financial products” in crypto clearly hasn’t checked the ticker lately. TheBlock.

⚖️ IRS Rule Scrapped—DeFi’s Still In The Crosshairs

Congress just tore up the IRS “DeFi broker” rule, proving that politicians can occasionally do something pro-innovation. Privacy hawks are cheering, but the real challenge is balancing user anonymity with AML crackdowns that won’t vanish overnight. Regulators might want to figure out a realistic approach soon, or offshore DeFi will keep on blooming. Cointelegraph.

⚖️ Coinbase Staking Charges Vanish In Vermont

Vermont decided it’s time to drop its lawsuit against Coinbase ($COIN ( ▲ 3.17% )), conceding that staking services might not be “securities” after all. This marks another state stepping back from the old clampdown dance, following the SEC’s retreat. Coinbase’s chief legal officer is celebrating, but you can bet they’ve still got one eye open for the next legal curveball. coinjournal.

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TECHNICAL ANALYSIS
Signs Of A Turn Around? 🤔 

Bitcoin

Last week was Bitcoin’s worst performance since late May 2024. 🤯 

More importantly, $BTC.X ( ▲ 4.8% ) closed below the weekly Kijun-Sen line for the first time since early September 2024.

BTCUSD Weekly Chart – Click to enlarge.

But don’t sweat it just yet; Bitcoin still has one sneaky lifeline hiding on the monthly Ichimoku chart at $80,100—the monthly Tenkan-Sen. Below that, though, brace yourself: it’s a steep plunge to around the $60,000 mark, where the top of the weekly Cloud (Senkou Span A) waits with open arms.

Time-wise, last week marked exactly seven weeks—or 49 days—since BTC’s all-time high, aligning neatly with W.D. Gann’s “Death Zone.” Gann wasn’t playing around when he warned about this cycle:

• Can swiftly flip trends.

• Ends dramatic moves or “Blow Offs.”

• Moving 45 to 49 days from high to low signals a strong reversal risk.

Basically, Bitcoin’s currently dancing in the danger zone—especially dangerous for short sellers who’ve overstayed their welcome. If BTC finishes this week green and near the candlestick high, bears better watch their backs because the bulls might just regain their swagger. 👯 

Dogecoin

Dogecoin’s weekly chart looks like it’s on an extended bender—totally out of balance and hilariously detached from reality. Those massive gaps between the Tenkan-Sen and candlestick bodies? Ridiculous. 🍺

DOGEUSD Weekly Chart – Click to enlarge.

Like Bitcoin, $DOGE.X ( ▲ 4.61% ) is also hitting an epic Gann time cycle, specifically the 90-day (up to 99 days) cycle. Gann considered this period crucial, practically screaming “trend reversal imminent.” Here’s what he wrote about the 90-day cycle:

• Strongest division in the one-year cycle.

• Massive potential for establishing support or resistance.

• Typically kicks off countertrends after 90 days of a consistent direction.

• Always mark 90 days from major highs or lows—trend flips love to party here.

• Against extreme momentum, can stretch to 99 days.

Short sellers, beware: DOGE’s absurdly stretched state means bulls could pop up unexpectedly, turning bearish bets into roadkill. 🛣️ 

STOCKTWITS COMMUNITY
Have Your Voice Heard 📣 

The Stocktwits Cashtag Awards are live, and voting has started! There are over a dozen categories, and we’ll be highlighting one in each newsletter until voting closes.

Best New ETF awards the ETF that made the most significant impact on the market or filled an innovative niche. Vote for every Cashtag Award here! 🗳️

Source: Stocktwits

ON-CHAIN ANALYSIS
Burnt Bag Briefing 🔥 

Want to know whether the bulls or bears are feeling the most pain today? Well, this is the place to look. 👀

24-Hour Liquidation Heat Map – Source: coinglass – Click to enlarge.

In the past 24 hours, 72,794 traders were liquidated, with total liquidations reaching nearly $181.92 million.

The largest single liquidation occurred on Binance, a BTCUSD pair valued at $3.38 million.

Longs lost $55.68 million, while shorts were hit for $126.25 million. 🤕

NEWS IN THREE SENTENCES
Real World Asset Tokenization (RWA) News 🪙 

🏠 Tokenized Real Estate, No Apologies

LTO Network ($LTO.X ( ▲ 4.72% )) just teamed up with AKRE to tokenize $25M in Spanish real estate, letting people invest in property the old guard assumed was off-limits. Forget excessive paperwork—now it’s all on a blockchain that’s designed for Real World Assets. If you’re still claiming tokenization is a gimmick, maybe you missed the part about a $25 million project going digital. LTO Network.

✴️ Take That, Tokenization Doubters

Centrifuge ($CFG.X ( ▲ 2.47% )) says the S&P just handed the Janus Henderson Anemoy Treasury Fund a top-tier rating, silencing anyone who still thinks tokenized funds are a passing fad. This fund isn’t just racking up trophies from Moody’s and Particula; it’s establishing the gold standard for credibility on-chain. Critics can keep griping while JTRSY rakes in accolades and proves serious investors want a piece of blockchain action. Centrifuge.

NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️

🌍 Skurpy Steps In Where Social Media Fails

A new platform that fuses social posting, NFTs, and wallet logins has landed—talk about a blow to the tired “Web3 can’t do social” trope. With Tezos ($XTZ.X ( ▲ 5.91% )) integration, creators and collectors can buy, sell, or just “Skurp” the day away. Traditional networks might start looking prehistoric once people see how seamless this is. Tezos.

🎮 SKALE Banks On Indie Dev Talent

SKALE ($SKL.X ( ▲ 6.43% ))rolled out a $2 million accelerator for indie game devs, hoping to drag Web2 talent onto the blockchain. It’s a direct poke at those who say “no one wants crypto games.” With mentorship, grants, and zero gas fees, the “invisible blockchain” might finally make skeptics eat their words. SKALE.

NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦

🤖 Swapping on Telegram? Now That’s Convenient

Critics love to moan about how crypto’s “too complex,” but PancakeSwap ($CAKE.X ( ▲ 2.65% )) just let you trade over 3,000 BNB Chain tokens in a chat app. No more app-hopping or website wrangling—just swap in Telegram and move on. If that ruins your “too clunky” narrative, maybe you need a new complaint. PancakeSwap.

🌌 Axelar’s Cosmos Conquest Continues

Elys is tapping Axelar ($AXL.X ( ▲ 4.02% )) to link its DeFi hub across multiple chains, which should irritate everyone insisting “cross-chain can’t work.” With Cosmos tech at the core and Axelar bridging the rest, friction melts away. Looks like one more step toward a frictionless DeFi future—sorry, doomsayers. Axelar.

LINKS
Links That Don’t Suck 🔗

🥃 Bolivia to use crypto to pay for energy imports — Report

🥊 Politicians brawl before Milei’s LIBRA impeachment proceedings

🤦 Illinois votes on a new state flag design — and chooses the current one

🎮️ Free-to-Play shooter Spectre Divide shutting down weeks after console launch

🐢 Man found with a live turtle concealed in his pants by TSA at a New Jersey airport

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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋