📊 BTC has recovered above $80K as ETF inflows, spot demand, and positioning improve. However, weaker capital inflows and heavy overhead supply near $86K keep conviction below prior bull phases.
Executive Summary
– US spot ETF inflows have turned firmly positive as BTC recovered from mid-$60Ks to low-$80Ks
– Shallow drawdown: Relative Unrealized Loss peaked at 25% in February, now compressed to 8%; bear regime stays shallow if $60K holds
– Realized Cap 30D Net Position Change back to $2.8B/month, but well below the $10B+ seen in prior bull expansions
– Support at $76.9K (30-day cost basis), resistance at $86.9K (Nov-Feb accumulation range)
– Coinbase Spot Volume Delta flipped sharply positive over the last two weeks
– Hyperliquid traders steadily adding long exposure alongside rising prices
– Implied volatility falling across the curve, led by the front end, as realized vol trends lower
– Downside hedging demand fading, options structure more balanced around $80K #etf
Executive Summary
– US spot ETF inflows have turned firmly positive as BTC recovered from mid-$60Ks to low-$80Ks
– Shallow drawdown: Relative Unrealized Loss peaked at 25% in February, now compressed to 8%; bear regime stays shallow if $60K holds
– Realized Cap 30D Net Position Change back to $2.8B/month, but well below the $10B+ seen in prior bull expansions
– Support at $76.9K (30-day cost basis), resistance at $86.9K (Nov-Feb accumulation range)
– Coinbase Spot Volume Delta flipped sharply positive over the last two weeks
– Hyperliquid traders steadily adding long exposure alongside rising prices
– Implied volatility falling across the curve, led by the front end, as realized vol trends lower
– Downside hedging demand fading, options structure more balanced around $80K #etf
💼 #JUP Bitwise will launch the Ethena market on Jupiter Lend to provide institutional clients with credit products based on Ethena assets.
🗣 Kevin Warsh has been officially approved for the position of Chairman of the Federal Reserve. He will assume the role this Friday.
🕵️ 348,000,000 $USDC (347,968,054 USD) transferred from Coinbase Institutional to Coinbase
📌 Top 5 News for 24 Hour:
1. US Producer Price Index (PPI) rises sharply in April. →
👁 724 | ❤️ 0 | 🔁 7
2. 21Shares Hyperliquid ETF ($THYP) successful debut with $1.8 million volume. →
👁 542 | ❤️ 0 | 🔁 7
3. Whale Loracle.hl makes profitable crypto trades. →
👁 245 | ❤️ 0 | 🔁 6
4. BlackRock moves $172.74 million worth of BTC and ETH to Coinbase Prime. →
👁 301 | ❤️ 0 | 🔁 4
5. Charles Schwab launches spot crypto trading for US retail. →
👁 551 | ❤️ 0 | 🔁 2
| | |
1. US Producer Price Index (PPI) rises sharply in April. →
👁 724 | ❤️ 0 | 🔁 7
2. 21Shares Hyperliquid ETF ($THYP) successful debut with $1.8 million volume. →
👁 542 | ❤️ 0 | 🔁 7
3. Whale Loracle.hl makes profitable crypto trades. →
👁 245 | ❤️ 0 | 🔁 6
4. BlackRock moves $172.74 million worth of BTC and ETH to Coinbase Prime. →
👁 301 | ❤️ 0 | 🔁 4
5. Charles Schwab launches spot crypto trading for US retail. →
👁 551 | ❤️ 0 | 🔁 2
| | |
🧑💻 Top Real World Assets by development since last month. $LINK $HBAR $XLM #RWA
🕵️ Jane Street Slashed Bitcoin Exposure While Expanding Ether ETF and Crypto Stock Positions in Q1
Jane Street sharply reduced its Bitcoin-related exposure in Q1 2026 while increasing holdings in Ether ETFs and select crypto equities, according to its latest 13F filing. The firm cut its positions in BlackRock’s IBIT and Fidelity’s FBTC, while also trimming holdings in Strategy and several Bitcoin mining firms. At the same time, Jane Street increased exposure to BlackRock and Fidelity Ether ETFs and added to positions in Riot Platforms, Coinbase, and Galaxy Digital. #etf
Jane Street sharply reduced its Bitcoin-related exposure in Q1 2026 while increasing holdings in Ether ETFs and select crypto equities, according to its latest 13F filing. The firm cut its positions in BlackRock’s IBIT and Fidelity’s FBTC, while also trimming holdings in Strategy and several Bitcoin mining firms. At the same time, Jane Street increased exposure to BlackRock and Fidelity Ether ETFs and added to positions in Riot Platforms, Coinbase, and Galaxy Digital. #etf
🇺🇸🗣 $7 trillion asset manager Fidelity announces support for the crypto Clarity Act and says it will "ensure the US remains a global leader in digital assets."
🗽 Vitalik: High Fees Stifled the First Wave of Crypto Payment Adoption
Ethereum founder Vitalik Buterin recalled his trip to Argentina, noting that locals widely relied on free and instant internal Binance transfers. He argued that high fees hindered the early exploration of decentralized payments.
With Ethereum L2 fees dropping below one cent and Optimism and Arbitrum reaching the Stage 1 security milestone, scaling solutions are finally becoming affordable. Buterin also pointed out that the original rollup-centric scaling approach is being revised. As L1 accelerates its scaling, the future lies in the synergistic development of L1 and L2, requiring L2s to provide differentiated value such as privacy or application-specific features.
Ethereum founder Vitalik Buterin recalled his trip to Argentina, noting that locals widely relied on free and instant internal Binance transfers. He argued that high fees hindered the early exploration of decentralized payments.
With Ethereum L2 fees dropping below one cent and Optimism and Arbitrum reaching the Stage 1 security milestone, scaling solutions are finally becoming affordable. Buterin also pointed out that the original rollup-centric scaling approach is being revised. As L1 accelerates its scaling, the future lies in the synergistic development of L1 and L2, requiring L2s to provide differentiated value such as privacy or application-specific features.