Dear Abby: Crypto’s Back But I Have Trust Issues 🤔
OVERVIEW
Dear Abby: Crypto’s Back But I Have Trust Issues 🤔
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
💥 Kevin O’Leary Wants Sky-High Tariffs On China
He’s calling for a 400% levy, because apparently quadrupling the numbers is the only way to make Beijing play fair. The proposal is overkill even by Trumpian standards, yet O’Leary insists it’s necessary to drag Xi Jinping to the negotiating table. Critics say it’s reckless, but he says it’s just payback for intellectual property theft. Mr. Wonderful’s X.
⚽ Every UCL Quarter-Finalist Bows To Crypto
The last eight teams all have deals with digital asset firms—Arsenal, PSG, Inter Milan, the works. Socios.com, Coinbase, and Bitpanda are splashing their logos around like confetti at a wedding. Crypto.com once had the main sponsorship gig, but apparently not anymore, leaving 23 of the 36 teams in this year’s tournament chasing sweet crypto money. Protos.
📰 Hedera Loses $1B On A Phony Nvidia Tie-In
Rumors said $NVDA ( ▲ 18.72% ) wanted Hedera’s fancy DLT for verifying AI output, so folks piled in and pumped $HBAR.X ( ▲ 14.84% ). Then it turned out the LinkedIn post was faker than a vintage Rolex on eBay, so Hedera coughed up almost a billion in market value in under 24 hours. Always remember this quote from Abraham Lincoln: “Don’t believe everything you read on the internet.” Finbold.
🔓 Virgil Griffith Walks Free After 63 Months
The ex-Ethereum dev who gave a blockchain talk in North Korea is out of prison, with a halfway house stay up next. He violated sanctions, got slapped with 63 months, and now might slip back into the industry—though it’s unclear how soon or in what capacity. Some believe he’ll reemerge as a protocol security advisor, which is a polite way of saying, “He’s got cautionary-tale cred now.” TheDefiant.
PRESENTED BY STOCKTWITS
Stocktwits Users Navigate The Selloff 🧭
Stocktwits users @Gpaisa, @JFDI, and @Holdingbags walk through how they’re approaching this volatile market. Topics include:
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The Nasdaq 100’s current pattern and its top components
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Sloping moving averages and the “mental capital” grind
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Risk management, trailing stops, and building back from drawdowns
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When to buy, when to wait, and why “seat time” still wins
TECHNICAL ANALYSIS
Crypto News 📰
There isn’t a person in crypto who isn’t thrilled with the turn around today. But like many in crypto, and I’ve written this before, it’s like being a Minnesota Vikings fan. 🏈
You’re a realistic pessimist: you expect the bad to happen, and when it does, it’s not a surprise, but when something good happens, you immediately temper your excitement because you know the spirit of Gary Anderson is going to prevent your happiness from lasting.
Luckily, the Ichimoku system gives us a clear set of rules for defining aggressive and conservative entry opportunities. The focus in this article is on the aggressive entry – because the FOMO is most definitely real right now. 😱
And those rules are:
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The close is above the Tenkan-sen and Kijun-Sen.
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The Chikou Span closes above the bodies of the candlesticks.
Let’s look at $BTC.X ( ▲ 8.34% )’s daily chart as an example:
BTCUSD Daily Chart – Click to enlarge.
If Bitcoin closes today at or above $81.650, that will put the daily close above the Tenkan-sen and Kijun-sen. That fulfills rule number one. Rule number two isn’t fulfilled yet because the Chikou Span is below the candlestick bodies.
A daily close at/above $84,500 would fulfill both rules. Let’s look at some others. 🔭
Hedera
HBARUSD Daily Chart – Click to enlarge.
Similar to Bitcoin, $HBAR.X ( ▲ 14.84% ) is waiting for a close that puts the Chikou Span above the candlestick bodies. A daily close at $0.199 would do that.
Pro tip: Nearly all of the altcoin market looks just like Hedera’s daily chart. 🧠
Render
RENDERUSD Daily Chart – Click to enlarge.
$RENDER.X ( ▲ 20.39% )’s daily chart is unique amongst altcoins in that both of the rules for an aggressive entry opportunity are, at present, fulfilled. As long as the daily close is above the Kijun-Sen ($3.359), then both aggressive entry rules are fulfilled.
I do want to point out that the bottom of the Cloud (Senkou Span A) on Render’s daily chart is right on top of the Kijun-Sen, creating a fairly strong immediate resistance zone, so keep an eye on it. 👀
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, 157,041 traders were liquidated, with total liquidations reaching nearly $573.83 million.
The largest single liquidation occurred on OKX, a BTCUSD pair valued at $4.47 million.
Longs lost $231.24 million, while shorts were hit for $342.59 million. 🤕
NEWS IN THREE SENTENCES
AI, Stablecoins, & Privacy News 🕵️
🧩Zcash’s Transparency: More Than PR Spin
ECC just spilled all the tea on its finances, coin distributions, and how it’s barely got enough monthly funding to keep critics from calling it a ghost chain. Turns out they’re holding a decent chunk of $ZEC.X ( ▲ 3.31% ) and even some $STARK.X ( ▼ 2.87% ) tokens. Either way, they’re still paying the bills and sharing the numbers, so the cynics can’t whine about them hiding under a rock. Zcash.
🤫Phala’s Secret Weapon For $MNT.X ( ▲ 5.74% ) Network
Privacy computing is here, and it’s quietly flipping the bird at doubters who think Web3 is all hype. By merging TEEs, MPC, and ZK proofs, $PHA.X ( ▲ 13.43% ) gives devs the toolkit for hush-hush AI and sealed DeFi. If critics want noise, they’ll have to look elsewhere. Mantle.
🤖AgentRank: Because Everyone Copies PageRank
$FET.X ( ▲ 16.01% ) is basically telling critics to stuff it by measuring agent importance through a weighted messaging graph. Bots that send each other spammy love letters get pruned faster than worthless altcoins. After that, the ones left standing get top billing and the rest might as well be invisible. Fetch.ai.
NEWS IN THREE SENTENCES
Metaverse, NFT, & Gaming News 🎮️
🎮Immutable’s Unified Chain: Consolidate Or Perish
They’re sqishing $IMX.X ( ▲ 13.88% ) into Immutable zkEVM to form one unstoppable gaming chain. No user action needed, unless you enjoy panicking over normal upgrades. With all these big games piling in, the only meltdown you’ll see is from the haters who said “web3 gaming is a fad.” Immutable.
NEWS IN THREE SENTENCES
DeFi, DEX, & Lending Protocol News 🏦
🐻Berachain’s Tough Love For Low-Value Tokens
$BERA.X ( ▲ 12.63% )’s governance updates just slammed the door on shady tokens and flimsy proposals critics said would run wild. New RFRV standards and incentive guidelines weed out dead weight to keep the ecosystem healthy. If your token can’t pass muster, you’re not fit for this chain. Berachain.
🔗Hedera’s Big Cross-Chain Moment With Chainlink
They brought in $LINK.X ( ▲ 16.43% )’s CCIP to tie $HBAR.X ( ▲ 14.84% ) into 46+ blockchains, basically telling critics who still cry “isolated chain” to get lost. This new standard means tokens, messages, and fancy DeFi moves can flow across networks with minimal drama. If the naysayers wanted a reason to call it a ghost town, well, they’ll have to keep waiting. Hedera.
LINKS
Links That Don’t Suck 🔗
🛑 Amazon cancels some orders from China amid U.S.-China tariff war
🤔 Binance Introduces LDUSDt as a Reward-Bearing Margin Asset
⛽️ Web3 Gas Fees Are Preventing Mass Adoption More Than You Realize
🚚 The legendarily terrible Big Rigs: Over the Road Racing is now available on Steam
🤯 Trump administration backs off Nvidia’s ‘H20’ chip crackdown after Mar-a-Lago dinner
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Author Disclosure: The author of this newsletter holds positions in ADA, IMX, COPI, MIN, AGIX, ALGO, ZEC, XLM, and NEAR. 📋
