Plus: Will the US truly purchase 1M BTC?
#airdrop-section#
GM. It’s a fruity free-for-all out there at present, however don’t fear – we’re right here to slice, cube, and serve up the juiciest bits with zero effort in your half.
📝 Sen. Cynthia Lummis reintroduces the BITCOIN Act.
🍋 Information drops: EU is nervous about Trump, crypto scammers are utilizing new ways + extra
🍍 Market taste at present
I meannnn… technically, the chart isn’t all crimson… Ugh, who am I kidding? It’s nonetheless brutal 😣
And issues don’t look any higher behind the scenes – CryptoQuant says whales aren’t shopping for Bitcoin like they used to, and US Bitcoin ETFs had $740M in outflows this week alone.
To high it off, BTC demand fell by 103K cash, the quickest drop we’ve seen since mid-2024. Positive, a 22% dip isn’t that loopy for a bull market, however this one feels… heavier.
Glassnode analysts say Bitcoin’s in its post-all-time-high cooldown part – principally, individuals who purchased the highest begin bailing. And when BTC crashed to $78K, panic promoting kicked in exhausting.
If this had been December or January, the market would’ve seen this as the right purchase the dip alternative. However now, everybody’s hesitating.
And with no new patrons stepping in, the market may keep caught on this correction part for some time.
The hesitation comes right down to tight liquidity, the Bybit hack, and financial uncertainty – particularly Trump’s tariff drama.
Which, talking of that final one… what if that is all a part of the plan?
Bitcoin commentator Anthony Pompliano has this idea: Trump and Secretary of the Treasury Scott Bessent are deliberately tanking asset costs to strain Fed Chair Jerome Powell into reducing rates of interest.
Here is the logic:
Make traders panic → they dump danger belongings like shares and crypto;
That cash strikes into safer belongings like US authorities bonds;
Increased bond demand = increased bond costs = decrease bond yields;
If bond yields fall sufficient, the Fed would possibly resolve to chop rates of interest to match market situations.
Why would they do that? Easy: the US authorities has about $7T in debt that wants refinancing quickly.
With rates of interest excessive, paying off and reissuing that debt can be loopy costly. But when the Fed cuts charges, the federal government can borrow at a less expensive fee and save a ton of cash.
And simply to maintain issues further fascinating, February’s Client Value Index (CPI) report got here in decrease than anticipated:
Month-to-month CPI: +0.2% (vs. 0.3% anticipated);
12 months-over-year CPI: +2.8% (vs. 2.9% anticipated);
Month-to-month core CPI (excludes meals & vitality): +0.2% (vs. 0.3% anticipated);
12 months-over-year Core CPI: +3.1% (vs. 3.2% anticipated).
Translation: inflation is cooling down. That must be excellent news – the Fed doesn’t should maintain charges excessive.
Usually, a report like this may pump crypto – however this time, the market barely reacted. Buyers are simply too nervous about every little thing else goin’ on.
So yeah… they are saying God offers his hardest battles to his strongest troopers. However at this level, please, let another person take a flip – the crypto group has been by sufficient already…
🥝 Memecoin harvest
Even your normie buddy would possibly ask if “it’s too late to purchase” after seeing these charts:
Information as of 05:35 AM EST.
Take a look at these memecoins and lots extra right here.
Fast reminder: final week, Trump signed an government order to ascertain a strategic Bitcoin reserve – which, by all accounts, is HISTORIC… and the market’s response was no matter tf we witnessed within the Market Taste part of this article.
Why? Lengthy story quick: the federal government did not actually promise that they’d purchase extra BTC = no assured pump.
(For the total breakdown, learn this.)
However Senator Cynthia Lummis does not wanna let that slide. She reintroduced the BITCOIN Act:
If this factor makes it by, right here’s what it means:
Self-custody rights are protected;
The US Treasury is getting its personal Bitcoin vaults;
The federal government commits to purchasing 1 million BTC – about 5% of the full provide – turning Bitcoin into the digital equal of America’s gold reserve;
This all will get funded by reallocating present authorities cash.
Lummis isn’t alone both – she’s obtained some new Republican co-signers, together with Jim Justice, Tommy Tuberville, Roger Marshall, Marsha Blackburn, and Bernie Moreno.
Clearly, there’s nonetheless a protracted journey forward – the invoice has to outlive Congress first. Nevertheless it’s wild to suppose that one thing like that’s even on the desk.
Now you are within the know. However take into consideration your folks – they in all probability don’t know. I ponder who may repair that… 😃🫵
Unfold the phrase and be the hero you understand you’re!
🍋 Information drops
🤨 Meteora co-founder Ben Chow’s X account referred to as out DefiTuna’s founders for making the most of memecoins like MELANIA and MATES. Meteora’s official account claimed his account obtained hacked… and now each of those posts are gone as a result of – plot twist – each accounts obtained hacked.
🕰 The SEC delayed its determination for XRP, Solana, Litecoin, and Dogecoin ETFs. However no want to fret – Bloomberg ETF analyst James Seyffart says it’s simply enterprise as common.
⛏ A solo Bitcoin miner with a tiny 480 GH/s rig beat industrial giants with 230,000+ GH/s and gained the total $263K reward. Absolute underdog flex.
🚨 Scammers obtained artistic in 2024. California’s monetary watchdog obtained 2,668 complaints and located seven new crypto and AI rip-off ways.
😬 EU finance officers fear that Trump’s help for crypto will disrupt Europe’s monetary stability. The ESM says the digital euro is now not simply an choice – it’s important for sustaining management.
