Find out what went down on Crypto Twitter as the market crabs sideways.
Gm,
Another week, another pump and dump by the crypto market. Blame that little rascal Bart Simpson:
How bearish was Crypto Twitter this week?
Let’s find out…
Whose Threads Are A Must-Read?
GambleFi is trying to cling on to the “narrative of the moment” hotseat. Beacon Early is a small narrative hunter account with a good overview of the state of the GambleFi market at the moment:
Rollbit remains the king of GambleFi, but plenty of other projects are trying to ride its tailcoats to success.
A big-brain thread came from Stephen Palley last week. Crypto often gets shilled as the best thing since sliced bread, but is “code is law” really much better than the law we already have? Stephen’s thread about crypto and risk argues that crypto does not make risk disappear – it just moves it:
Crypto’s new darling country is Argentina. Not because of Leo Messi, steaks or gauchos but because Javier Milei, the front-runner to become Argentina’s next president, is a staunch proponent of Bitcoin. But if elected, he will have his hands full cause Argentina is on the cusp of hyperinflation.
And this thread explains all you have to know about that:
Read also: The Rise of Crypto Adoption in Argentina
Last one on this week’s list is Cold Blooded Shiller, who shared a somber view of the state of the market at the moment. TLDR: it’s not looking good…
Wisdom of the Week
This week’s wisdom: if you just made your first big win, cash it out.
Elon Building X
X is trying to shake off its Twitter-ness, with Elon introducing new features.
Soon, you will be able to call your favorite influenza and ask why they dumped on you:
Can’t wait to see where we’ll be a year from now! Probably shouting at each other over the election…
Talk of the Town
Crypto town was rather quiet this week.
There was some drama around crypto’s favorite YouTube personality Ben ‘Bitboy’ armstrong. Who is not Bitboy anymore:
Much sad! So missing! How will crypto succeed without Ben?
Maybe not at all. Duck is thinking the window for crypto is shrinking, not increasing:
This sparked a somewhat lively discussion in this ghost town. Since it’s a bear market, every penny counts, so we cannot possibly give away that sweet sweet ad revenue share by quoting someone:
Some are just bullish on people becoming more degenerate, sorry, have shorter attention spans and higher dopamine tolerance. So it could just become memecoin maximalism investing:
Interesting discussion, to which the answer will be more obvious in a few months. Hopefully, by then, Bart will stop drawing the markets with his endless pattern.
The Grayscale court win was the leg up of his haircut. It sent Crypto Twitter into a 50-hour bullish frenzy, fantasizing about how the SEC is down bad:
We were so back on that glorious Tuesday!
But Bart is up to no good, so he completed his annoying haircut two days later when the Bitcoin spot ETFs got delayed (again):
An easy market, it is not:
But it still seems a question of wen, not if. Even former SEC chair Jay Clayton thinks the spot ETF will come cause everyone wants those sweet sweet gains from pumping a new asset class:
Our Favorite Coinfession
We do not post Coinfessions every week, but when we do, they should be a cautionary tale for you:
Memes
Meme of the week is this little fella:
Don’t underestimate the danger of crabs!
See you next week!
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