BTC Decoupling From Stonks

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BTC Decoupling From Stonks

Stocks got beat up again yesterday on tariff/recession fears. The dollar, bonds and equities all traded down together while Gold surged to ATHs of $3,500/oz. BTC has also started to decouple away from the equity malaise, trading back above $89k to a 2 week high. BTC dominance has grinded up past 64% to 4 year highs while OTHERS dom still bounces around the 2023 trough. And BTC charted against delayed M2 money supply sure looks pretty bullish?

TAO has been the best performing top 100 alt over the last week after rising 43%, while Fartcoin is back above $1bn (and lots of the timeline has been crying about it). ETH continues to be lame at ~$1.6k, SOL traded up to $141 and SOLETH had its highest weekly close ever. Trump is getting ready to launch crypto ETFs while having his lowest approval rating yet for this term.

Chart of the Day with Vertex

BTC looks like it’s about to run it back turbo. Try app.vertexprotocol.com and trade BTC with up to 20x leverage.

The market continues to be a barbell of BTC doing well and shitcoins doing well. There were plenty of runners over the weekend including POSEIDON which got to $16mm (now at $8mm), TROLL got to ~$10mm, LUCE bounced to $28mm while FRANCIS ran to $5m and RIP pope hit $4.3mm. Even previously dead coins like Zerebro are catching a bid now.

Fartcoin continues to lead mindshare, but pwease was the most notable gainer on the day.

TG trench trading volumes have cooled off from their 4/16 peak of $90mm, but are still running ~2x higher than the recent lows.

Interesting accounts getting smart follows:

• trepa

• Polyester

• skyAI

• 3^rd Street Research

• Tokenize.fun

SMART MONEY CORNER - Presented by chainEDGE

• Fartcoin, titcoin, LUX and POPCAT lead overall smart holdings, with newcomer Italianrot climbing into the top 5 by $ held

MEME OF THE DAY