π¨ ATTENTION: A Bitcoin Strategic Reserve Could Be Announced Today!
π Eric Trump Says Add ETH!
By reading this newsletter, you acknowledge and accept the terms and conditions outlined in our disclaimer.
π° Will A Bitcoin Strategic Reserve Be Announced Today?
π Eric Trump Says Add ETH!
π₯ Best Alpha Posts of the Day
πΈ MEMEoirs of a Degen!
π’ Biggest Announcements
π Banterβs Take
GM Degens,
Another day, another tariff.
Volatility can be expected again later today when the US markets open, seeing as the tariff war continues.
However, we have had a major development for the industry. And it could be what everyone's been expecting!
Let's dive in!
π Market Catch-Up
Top 100 coins Daily Performance - Banter Bubbles
Source: CoinMarketCap
π° Question of the Day
Will A Bitcoin Strategic Reserve Be Announced Today?
Yesterday we got a bit of a relief bounce after concerns around the tariffs that President Trump is imposing on other countries like Mexico and Canada started dissipating, as talks were held between the countries. Bitcoin found itself up above $100,000 again as the mainstream media found it hard to keep up with the volatilityβitβs hilarious to watch them post stories to be honest. Legacy media is used to the low-volatility, prehistoric traditional stock market.
Trump came out to confirm that there's going to be a delay on the Canadian tariffs for 30 days as their neighbor confirmed the same for the US. Though we still have to look forward to possible 10% tariffs on EU imported goods. And market got fearful again after Trump's considerations for tariffs on China.
China retaliated saying they are imposing 10-15% tariffs on US oil, agricultural equipment, coal, and liquefied natural gas. We are now expecting him to talk to the country within the next 24 hours as he warns that tariffs will increase if a deal isn't reached. This is sort of like a round two of the tariff FUD. But many speculate that a lot of the uncertainty has been dialed in to the markets already.
So, whatβs the big news mentioned above?
We had something quite good happen yesterday and it is raising hopium on X. Trump signed an executive order to create a sovereign wealth fund, and though not all details have been revealed yet, Senator Cynthia Lummis commented on it. Notice the Bitcoin symbol she used.
A sovereign wealth fund is essentially a state-owned investment fund composed of a basket of financial assets that the country can use for financial backup and growth.
Now, as if that wasn't enough on its own, the AI and Crypto Czar appointed by Donald Trump himself, David Sacks, will be hosting a press conference later today to discuss the Trump administration's efforts to position the US as a leader in the digital asset sector. As you can guess, many are speculating that this is the moment when a bitcoin strategic reserve will be announced... others believe that such a significant announcement won't come easilyβ¦
But ask yourself this: Trump has been signing loads of executive orders and making stuff happen. Elon Musk led Department of Government Efficiency (D.O.G.E.) has been going full-blown detective-mode, successfully identifying fraud and corruption in other US agencies, saving the country billions of dollars. This administration is making an impact, and when you think about a businessman like David Sacks coming out to make his first public speech in his new role after Trumpβs inauguration, you might think that he will want to make quite a bit of an impact. You only get one chance to make your first impression, and he probably wants to make it a good one.
There's been volatility, and many people have been shaken out; zooming out will give a stronger picture of the current condition. As usual, none of this is financial advice, and you all need to do your own research.
Zooming out is exactly what Jelle is doing below. Notice how Jelleβs chart highlights corrections in the previous bull cycles. Food for thought!
π Degensβ Den - Powered By LunarCrush
Eric Trump Says Add ETH!
Yes, thatβs exactly what Donald Trump's son Eric Trump said in his post yesterday on X.
Coming out with such a bold statement after ETH had its correction (with the rest of the market) is quite interesting. Although it does seem to align with Trump associated World Liberty Financial (WLFI) buying 86,000 ETH over the last day.
It gives you something to think about.
The Total Value Locked (TVL) on Ethereum is sitting just shy of $57 billion right now, way off its previous cycle highs of over $100 billion.
Source: DefiLlama
The protocols driving these numbers, according to DefiLlama are currently:
Lido DAO (LDO)
Aave (AAVE)
EigenLayer (EIGEN)
If we look at the social metrics on LunarCrushβspecifically engagementsβunder the category of liquid staking derivatives, we can see that Lido takes the top spot again.
The Lido hype is possibly driven by rumors about staking services coming to the ETH ETFs.
Of course, all this talk about Eric Trump telling people to buy ETH is sparking conversations on X about altseason, with some believing that if capital flows to Ethereum, it could then trickle down into the rest of the market. Of course, they don't know this, and no one can.
π₯ Best Alpha Posts of the Day
The Pattern Is Repeating!
Iβm on to you, simulation!
The Pulback Always Comes!
In 1999, when Peter Lynch was Vice Chairman of Fidelity Management & Research Company, he gave this little speech on corrections. It's quite an interesting video to watch and is educationalβon a surface level at least. He talks about corrections in traditional stock markets and notes that over 93 years of market history at the time, there had been 50 corrections of over 10%. He also discussed larger 25% corrections, which he says are called βbear marketsβ. Overall, he's basically saying that nobody knows when, but pullbacks always come.
πΈ MEMEoirs of a Degen!
π’ Biggest Announcements
Bitcoin Network Hits New Hashrate Record
π Banterβs Take
Surely we will all have nerves of steel soon with all the ups and downs. Staying focused on the long-term picture of how blockchain can shape, change, and improve many industries is one way to stay grounded.
See you all tomorrow!