TRUMP is on our side!

SCOOP’S TL;DR

📈 MARKET SENTIMENT

  • Bitcoin experienced a 5% drop yesterday with minimal catalysts.

  • Currently, Bitcoin is holding above $60.6k (Monthly Open) as 4-hour support, but the rebound appears weaker compared to previous reactions.

🔥 THE TRENDING NARRATIVE

  • CAT race update

🔥 BARBELLS WEEKLY PICK

  • $BODEN

🗞️ TOP STORIES

  • Trump Goes All In

  • Revolut Market Place

  • FTX Refund Pending

🏆 WEEKLY WINNER

  • $TRUMP

😡 REKT SECTION

  • Lee & Heppel

PNG. Line Break - Triple Scoop
  • Crypto Total Market Cap $2.37T - 24/hour change 3.7%

  • Crypto Market Cap Total Volume $53B - 24/hour Change - 0.05%

    Majors - 24/Hour change

    • BTC - $60,700 - 5%

    • ETH - $2903- 6%

    • SOL - $144- 8%

    • Bitcoin experienced a 5% drop yesterday with minimal catalysts.

    • Currently, Bitcoin is holding above $60.6k (Monthly Open) as 4-hour support, but the rebound appears weaker compared to previous reactions.

    • A 4-hour close above $61k could lead to a retest of $61.8k, while a close below $60.5k might trigger a quick descent below $60k.

    • Market cap slightly increased while trading volume dropped significantly, indicating less active trading but stable valuation.

    • Fear & Greed Index reflects a neutral sentiment.

    • Bitcoin's price has been consolidating around $60,800, signalling market uncertainty.

    • Trend analysis shows a bearish trend with lower highs and lower lows since late March, but recent stabilization hints at potential equilibrium or reversal.

    • Positive developments in Bitcoin ETFs, evidenced by increased investments in Grayscale's GBTC, suggest growing confidence in crypto and potential mainstream adoption on the horizon.

    • If you are feeling stressed or anxious with the market right now, be rest assured there are huge reasons & catalysts to be round the corner which will leave the bears licking their paws. Hold tight.

    • Bitcoin/dominance - 54%

    • Bitcoin’s dominance has last it’s positive trend. It is still strong for now, but Alt coins have held up better than expected with the market correction.

    🔮 NARRATIVES TO FOCUS ON IN 2024

  • - AI Infrastructure / Autonomous agents

  • - GPU / Cloud Computing

  • - Gaming / Game-fi

  • - DEPIN (Decentralised Infrastructure)

  • - RWA - Real-World Asset tokens

  • - Memes - (you’re not too good for them)

  • - BTC Defi / BRC20

  • - New Layer 1’s

  • - Parallelization EVM / Modular Blockchains

  • - Solana Killers

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Crypto is a narrative & trend-driven game, where attention goes, the money flows. So what’s hot?

THE CAT RACE - UPDATE

The Race is on for the cats to a billion dollars

A couple of days ago, Donald Trump announced he would support crypto, making it easier for crypto-related businesses to operate in the US, as opposed to his competition Biden who is looking to massively clamp down on crypto. Naturally this caused both $MAGA & $TREMP tokens to absolutely sky rocket in minutes, which drew some attention away from the Cat Meta… Breifly. But today the race is back on.

POPCAT

$POPCAT - Number 1 Current Leader - for how long?

The Popcat hype has cooled off somewhat but still saw some nice price action. Michi may be gunning to knock Popcat of its perch and be first to a billy, but we wouldn’t rule out the top cat which is Popcat just yet. We saw this before with Shark Cat a while back, when it rallied past Popcat in Mcap, Popcat later roared back with vengeance and reclaimed the thrown. Popcat’s advantage is first mover & simplicity which can’t be overlooked.

The leading cat is currently on a retracement and offers a strong buying opportunity.

MICHI

$MICHI - Strong up & Comer.

The stand out since our last issue has been $MICHI. The infinity cat $MICHI, printed an absolute God candle yesterday and rallied a total of 150%.

In our Premium section, we gave the intel that $MICHI was a good buy just before the move based on Smart Money inflows into the token.

Currently Sitting at $220Mcap, it has more walls to climb before it reaches $POPCAT. But it is leading in terms of growth on the day & is the number 1 coin on the Solana chain in terms of holder growth over the last 7 days.

$MICHI’s advantage is the virality aspect of its endless customisable traits which can quickly gather attention across Twitter.

Michi Beta Play - $MINI - $18M - Runs hard when Michi Runs.

This cat meme has held up remarkably in the recent sell-off & market flush-out. We believe this will be a tough neck-and-neck race to a billion.

Depending on how Big the Cat Meta becomes, and if it can solidify itself as a lasting meme category in its own right, there is a world where multiple cat coins reach multiple billions.

Michi Beta Play - $MINI - $15M - Runs hard when Michi Runs.

Shark Cat - $SC - 3rd place Dark Horse - $130M - Big retracement, could surprise.

🏋️ BARBELL’S WEEKLY PICK

In each issue, our Founder ‘Jack Barbell’ delivers a hot rising star crypto asset that is yet to explode.

You can Follow Jack Barbell on X - @thebarbell_

Marketcap - $191M

Narrative - Politifi MEME

Barbell’s Take

This year is an election year and Smart Money has been scooping up $BODEN. It is on a huge retrace. As Biden’s media presence increases in the lead-up to the election, there is a high probability that this will run up and blast past its all-time high.

Some hold the token to mock Biden, some hold $BODEN to support Biden, either way, there is a large community behind this one and seems like a very obvious play right now.

A cycle of Memes wouldn't be complete without the King of Frogs. There is going to be a monster meme on ETH despite the favourite meme chain being Solana. $Doge is the king, but the upside growth is capped. Depending on how big the cycle gets, we estimate anywhere from $6 to $9 Trillion, if this is the case, then it is likely we will see multiple memes over $100 Billion market, I am estimating this based on $DOGE hitting $90 Billion last cycle.

$PEPE the Frog is one of the biggest memes in existence. It’s the bedrock of internet culture, So if any meme had a chance at hitting the glorious heights of $DOGE’s previous ATH, then it’s $PEPE.

Yes, that would be a 30X from here, but let’s keep our degens hats on for now. To buy and hold, this thing can easily rip a 5X multiplier.

Trump Goes All In - The Market Reacts

At a glance 🔎
  • Donald Trump hosted a “Trump Cards NFT Gala” on Wednesday and laid down his feelings on all things Crypto.

  • He said he would ensure his campaign accepts donations via Crypto.

  • In terms of Crypto itself, he raised the issue of many Crypto businesses going offshore due to strong regulations by saying he would stop it and would embrace Crypto.

  • A final jab was thrown at Biden who allegedly does not know what it is.

  • Memecoins $MAGA and $TREMP rallied hard both 60% and 200% respectively following the event.

🕵️ Scoops take: 

If you did not realise it then you will now, we are in memecoin mania.

Trump is bullish and we don’t think he was saying it to please the crowd, we think he means it.

Look at the reaction, $TREMP is up 102% in the last 24 hours, and $MAGA is up 48%.

You have seen how easy it is for memecoins to be created, there will be plenty of new creations and upward trends as the Presidential race heats up.

Revolut Market Place - A Huge Win For The UK

At a glance 🔎
  • Digital Bank Revolut has launched the Marketplace Revolut X.

  • The aim is for users to trade through Revolut directly and they become the first bank to have a standalone Crypto Exchange.

  • Traders will be able to buy and sell over 100 tokens.

  • Fees will be 0.09% for the creator and 0.05% for the taker.

🕵️ Scoops take: 

The customer is certainly at the heart of this decision.

With extremely low fees and real time trading and advanced analytics, what is there not to like?

We have no doubt this will be successful, and the big plus is there will be more banks looking to get a piece of this market share so it’s choices galore.

With 40m customers worldwide, Retail is coming.

PNG. Line Break - Triple Scoop

FTX REFUND PENDING - A Letdown!

At a glance 🔎

  • Customers are set to receive the full value of lost sums if FTX’s bankruptcy plan is approved.

  • 98% of creditors will receive the funds, in cash, within 60 days of the plan going into effect.

  • The catch is that investors will not receive any of the gains made in the last 2 years.

  • Assets are set to be valued at November 2022 prices when Bitcoin was trading around the $17k mark.

🕵️Scoop’s take:

It is definitely a tricky one!

On one hand, many investors felt with FTX going bankrupt they would never see their invested sums again.

On the other, now they know they will get it back, why are none of the gains coming with it?

Many are pleading for a like for like return e.g. if you had 15 BTC you would receive 15 BTC back, regardless of the price.

As we said, it’s a tricky one and we guess the bigger picture is 1% of something is better than 100% of nothing.

One thing is for certain, SBF will thankfully be nowhere near this as he settles into his 25-year sentence.

🏆 WEEKLY WINNER🏆

$TRUMP

Trump is no stranger to the space and those who buy the news have also landed quite a bit of profit over the last couple of days.

At the start of the week, you could have bought a coin for $4.24 and following Trump’s Gala evening, the price soared to $7.19.

It has since retraced back to around the $6 mark but this is still a tidy profit on the back of one speech.

Keep your eyes peeled for future talks.

😡 THE REKT SECTION 😡

Lee & Heppel

Jake Lee and James Heppel from the UK have been sent to prison following their involvement in a Crypto scam.

They pled guilty to three counts of conspiracy to commit fraud by replicating the Blockchain website to access victims’ wallets which led to the theft of funds.

Lee was sentenced to 4 years in prison whilst Heppel received a sentence of 15 months.

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