Market Update

- The US Treasury is set to draw $18 billion from the market, potentially impacting other asset classes
(On Thursday, over $105 billion in US Treasuries will mature; simultaneously, $123 billion in USTs will be issued)

- UK bonds have devalued to a critical level, prompting questions about potential buyers to prevent a sell-off

- Global central banks may have to step in as US Treasury refills could lead to selling of other sovereign debts

- The equity risk premium for the S&P 500 is at a 2007 low, making US Treasuries more attractive

Crypto Update

- Ripple has received regulatory approval to offer regulated digital asset products and services in Singapore

- The chairman of the US Financial House Committee has scheduled a session in July to push legislation forward, aiming to establish a clearer route for digital assets to shift from being classified as securities to being treated as commodities.

DeFi:

- MakerDAO: sDAI is now available on Spark Protocol by depositing DAI in exchange for sDAI

- Polygon Labs proposes to upgrade the Polygon PoS chain to a zkEVM Validium

- Arpa Network, a threshold BLS network, is now live on Ethereum

- Camelot launches its AMM V3, backed by Algebra’s concentrated liquidity engine

- Dopex launches Option Scalps V2

- Stablecoin protocol Reserve invests $20M to buy governance tokens from Curve, Convex, and StakerDAO (for more voting power)

- Magpie integrates with Radiant to introduce Radpie, a yield optimizer for Radiant dLP token holders

Update TL;DR buyers

As we wrote in the TAO section in the last TL;DR issue. When the market recovers, Tradingbots will benefit well from it.
A few have made over 100% in the last days and again over 60% today.

In the long run, some should do better than the others, especially those that share revenue with token holders.
But it doesn't hurt to minimize risk after a run (especially if they are low Mcaps).

Thanks,
The Alchemic One (TAO)

Market Summary

- Bitcoin briefly dropped below $25,000, but surged past the 200WMA and short-term holder realized price due to BlackRock applying for a Bitcoin ETF.

- The short squeeze caused Bitcoin to cross the $30,000 mark, resulting in the year's highest number of daily short liquidations.

- The BlackRock news reduced the GBTC discount, and Bitcoin fund flows nearly neutralized.

- The next target is $32,500, a crucial support and resistance level.

- Global M2 money supply and central bank balance sheets trends haven't significantly changed.

- Bitcoin's rally coincided with the VIX's lowest level since 2020 and the SPX around 4400, indicating potentially lower market volatility.

- The upcoming week will show if this bullish momentum continues as Bitcoin retests the major $32,500 level.

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Share the guide with all your crypto friends. They will thank you when they get the airdrop.

zkSync Guide: https://twitter.com/cryptoBLTS/status/1672216541729898498?s=20

Market Update

- Despite a predicted slow market season, the Fed's actions have led to a strong S&P 500 performance, though signs indicate a potential reversal.

- The Fed and US Treasury are collaboratively working to reduce bank reserves, leading to early signs of market-wide liquidity decline.

- BTFP usage has risen to $102.7 billion, leading to increased risk-taking in markets due to supported credit.

- Despite economic weaknesses, markets are buoyed by supported liquidity and robust corporate balance sheets.

- The Commercial Real Estate sector is facing high risks, with banks being advised to reduce their exposure.

- Weak earnings and higher deposit rates are expected to result in more bank mergers and failures this year.

- Questions loom about whether the Fed will create a facility to buy distressed commercial real estate and CMBS to protect banks from insolvency.

There are interesting times ahead.

You don't want to wait until TradFi officially arrives to get started.
The regulatory situation is also shifting and showing positive signs.

Now is the time to prepare, learn and stay informed!

We demonstrated you in the last weeks that quick results can be achieved with the correct information.

The last CryptoBullets issues paid themselves off.

Get the new issue here: @cryptobullets_bot

We also have some surprises in store for you this week.

In this week's issue:

- Bitcoin short-term update & developments
- Protocol developments
- Regulation Overview
- Short-term opportunities
- Key News
- 8 Altcoin TA

Grab your TL;DR issue and enjoy your Sunday.

Thanks,
The Alchemic One (TAO)

Market This Week

Monday
- Germany - Ifo Business Climate (JUN)

Tuesday
- US - New Home Sales (MAY)
- US - Durable Goods (MAY)
- Canada - Inflation Rate (MAY)

Wednesday
- Germany - GfK Consumer Confidence (JUL)

Thursday
- US - Jobless Claims
- US - Pending Home Sales (MAY)
- Germany - Inflation Rate (JUN)
- China - NBS Manufacturing PMI (JUN)

Friday
- US - PCE Inflation (MAY)
- US - Personal Income (MAY)
- US - Personal Spending (MAY)
- Europe - Inflation Rate (JUN)

Update TL;DR buyers (yesterday)

We didn't expect it to happen so quickly but if you look at the second project in the TAO section form the last TL;DR report.

Is already +30% up on spot.

There's not a lot of talk about it yet, but it could be interesting to see how it develops.

It looks like smart money wallets are accumulating it even more.

However, a correction should come soon.

It's still a low mcap with $20m. Always remember that risk management is important.

But if the team delivers, we should still have a lot of room for the upside.

Those who didn't pick up an issue yesterday can still get it today.

Get the issue here: @cryptobullets_bot

Thanks,
The Alchemic One (TAO)

Digital Asset Fund Flows - weekly

- Largest single weekly inflows since July 2022, totalling $199M

- This corrects nearly half of the outflows from the previous 9 weeks

- ETP trading volumes rose to 170% of the year's average, reaching $2.5Bn in a week

- High-profile ETP issuers filing for physically backed ETFs drove positive sentiment, boosting total assets under management to $37Bn

- Bitcoin saw the most benefit, with inflows of $188M last week, accounting for 94% of total flows.

- In contrast, Ethereum and altcoins saw minor inflows, while short-bitcoin continued a 9-week outflow

BTC Update

- Bitcoin has closed the week above the critical $30,250 level
- A retest of this level as support could be beneficial, despite requiring no immediate dip
- Next significant level to monitor is $28,800, a crucial monthly level
- Following levels include $27,600 (red) and $26,600 (yellow)
- These levels acted as resistance in the past and have not been successfully reclaimed as support yet

IF a deeper dip occurs, these are the short-term levels to watch


RT, like & follow us also on twitter: https://twitter.com/cryptoBLTS/status/1673406544900247553?s=20

Prime Trust related

- PRIME lost access to its cryptocurrency wallets in December 2021.
- It used customer money to handle withdrawals until March 2022.
- PRIME has not yet regained access to the wallets.

Note: That's another good reminder. Not your keys, not your money.

ETH Update

- Retesting the top of the green box as weekly support

- Fourth attempt in the past year, with three prior unsuccessful tries

- A successful retest could lead to a favourable monthly close

- With Q2 of 2023 ending soon, the outcome of this retest could significantly impact the quarterly candle close

- Monthly support level is now at $1680, which was previously a region of strong sell-side pressure

- If the quarterly close is above the yellow line ($1920), ETH could jump to at least to $2275

- ETH could achieve this quarterly close if it successfully retests the green box top as weekly support


RT, like & follow us also on twitter: https://twitter.com/cryptoBLTS/status/1674048819091103745?s=20

Bitcoin on-chain accumulation trend

- Current accumulation score of 0.73 is high, indicating Bitcoin hodlers (insiders) are bullish.

- The accumulation score is at its highest since the last bear market bottom.

- Historically, such accumulation scores predict positive short-term returns (sign of momentum building up).

- At the one month mark, outcomes are typically either major upside breakouts or, more commonly, negative returns.

- This suggests high levels of "hype" are typically short-lived and should be considered cautiously.

Bitcoin ETF Update

- The SEC has critiqued the clarity of filings for a Bitcoin ETF from major asset managers like BlackRock and Fidelity.

- Bitcoin's price fell to $30,000 following the news.

- Despite previous rejections due to fraud concerns, the SEC's current engagement and requests for more detailed filings are seen by some as positive.

- The SEC specifically asked for the name of the spot Bitcoin exchange and more details about the proposed surveillance-sharing agreement.

dYdX V4 - Update

Team plans to launch a public testnet for dYdX Chain on July 5

- Launch could disrupt perpetual swap market
- Initial worries over dYdX‘s switch to Cosmos, including a lack of native USDC and issues with bridging, have been addressed by Circle‘s announcement of CCTP and native USDC for Cosmos.
- Bridging to the new system will be simple, requiring only a single signature from any wallet holding USDC, with no new wallet needed.
- Innovations of the dYdX chain include an on-chain and off-chain data aggregator (indexer), open-source frontends, and a built-in oracle system replacing Chainlink.
- There are concerns about MEV, with the block‘s validator leader having the ability to order transactions, which could affect trading pricing.
- The team intends to minimize MEV, possibly employing methods similar to those used by the Skip Protocol.

We are getting closer to the next crypto bullrun.

This one is predicted to be larger than anything we could ever imagine.
Institutional investors will be battling for a significant portion of the crypto pie.

YOU can frontrun them and profit on this opportunity.

Information and strategic positioning are the fundamental keys to success in the coming run.

We're here to assist you in this journey, and our efficacy has been demonstrated over the past few weeks.
But that was merely the start.

From now on, you shouldn't miss any issues.
We're are going to prepare you to seize the next crypto bull run.

Our goal? To ensure it will be the most profitable run in your crypto journey.

Get the new CryptoBullets issue here: @cryptobullets_bot

Let's win together!

Enjoy your Sunday.

Thanks,
The Alchemic One (TAO)

Digital Asset Fund Flows - weekly

- Digital asset investment products experienced a second week of inflows totalling $125M, taking the inflows of the last two weeks to $334M, around 1% of the total assets under management (AuM).

- AuM reached $37Bn during the week, a high since June 2022, matching the average for the year.

- Trading activity remained strong with $2.3Bn for the week, surpassing the $1.5Bn year-to-date average.

- Bitcoin was the main focus of investors with inflows of $123M, accounting for 98% of all digital asset flows in the past 2 weeks.

- Bitcoin investment products are back to a net inflow year-to-date.

- Short-bitcoin investment products saw a 10th week of outflows but remain second best year-to-date.

- A few altcoins experienced minor inflows, with Ethereum leading at $2.7M.

- Blockchain equities attracted inflows of $6.8M, breaking a 9-week outflow streak.

To monthly subscribers.

Check your updates.

Since this morning there is a surprise for you. Hopefully some of you have already taken the opportunity when you read the update this morning.

Risk-reward ratio 🟢

Pay attention to the strategy on this one.

After receiving your feedback last month, we have made a promise to include additional information in the TAO section to assist you in achieving faster results (and the issues pay for themselves).

And we are committed to keeping our promise.

Those who have read the issues in recent weeks are aware that we have delivered.

One example from the CryptoBullets Issue (25th June) is ICE.
Almost 100% as a spot position and very likely that is not all.

Furthermore, we surprised our monthly subscribers yesterday with a quick x3. This one will be featured in the upcoming TL;DR issue, ensuring that everyone has the opportunity to benefit from it. It still has potential for good growth.

We will present you the needed information and the potential. After that, you decide.

There will be one more surprise to come on Sunday. Stay tuned.

We will win the next bullrun together!

Thanks,
The Alchemic One (TAO)

Note: The catalysts for the ICE position are all still to come. Current Mcap $24M. A pullback is currently possible but not guaranteed.