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Following China's mining ban in 2021, Bitcoin's hash rate dropped by more than 50%. How long did it take the network to recover to new highs?
Today’s Report
Congressman Bets on Bitcoin as Dollar Dominance Faces Questions
🚨 Our Report
Congressman Nick Begich says he introduced a Strategic Bitcoin Reserve bill because the U.S. dollar may not remain the world's reserve currency forever. The proposal reflects a growing view that Bitcoin should be treated as a strategic national asset, not just a speculative investment.
🔓 Key Points
Begich warns reserve currency status is never guaranteed.
The bill would establish a U.S. Strategic Bitcoin Reserve.
Bitcoin is increasingly being discussed as a geopolitical and monetary hedge.
The debate is shifting from regulation to accumulation.
🔐 Relevance
The story isn't the bill itself—it's the narrative shift. When lawmakers start discussing Bitcoin as a reserve asset, it signals growing recognition that digital scarcity could play a role in future monetary strategy.
Today’s Top News
HEADLINES
Crypto Stocks Rise Even as Bitcoin Falls — Shares of Coinbase, Strategy, and Robinhood gained despite declining crypto prices. The divergence suggests investors are treating some crypto-exposed equities as broader technology plays rather than pure digital-asset proxies. It also highlights shifting correlations during periods of macro uncertainty.
Bitcoin Surged After U.S.–Iran Agreement Triggered Risk-On Rally — Bitcoin briefly climbed toward $67,000 after an interim U.S.–Iran peace agreement boosted global risk appetite. Crypto-related stocks rallied alongside digital assets. The move demonstrated how macro geopolitical developments continue to drive crypto market direction.
Analysts Split on Whether Bitcoin Has Already Bottomed — Debate is intensifying over whether Bitcoin’s rebound marks a durable bottom or merely a temporary bounce. Some industry leaders argue the $60,000 region may represent a cycle floor, while others warn macro and regulatory risks remain unresolved. The disagreement reflects a highly uncertain market environment.
CME Sues U.S. Regulator Over Approval of Crypto Perpetual Futures — CME has launched legal action challenging approval of crypto perpetual futures contracts. The case could have significant implications for derivatives regulation and market structure in the United States. Industry participants view the dispute as a major test of regulatory authority in digital assets.
Market Trendline
PRICE ACTION
Price Action
Crypto spent the last 24 hours reminding traders that relief rallies and trend reversals are not the same thing.
After last week’s geopolitical-fueled bounce, digital assets gave back a chunk of those gains as macro concerns crept back into the driver's seat. Higher-for-longer rate expectations, a stronger dollar, and fading risk appetite pushed traders back into defense mode. The result: a broad market pullback with altcoins once again doing their best impression of leveraged Bitcoin.
Market Overview
Bitcoin slid back toward the low-$60Ks, erasing much of the post-ceasefire optimism that briefly pushed it above $66K earlier this week. Ethereum tracked lower, while most large-cap alts underperformed as traders reduced risk across the board.
Volume wasn't particularly panic-driven. This looked more like conviction taking a day off than a full-blown capitulation event.
Macro View
The market is increasingly trading like a macro asset class rather than a technology sector. Every move in rate expectations, bond yields, and global risk sentiment is being reflected almost immediately in crypto pricing. The regulatory backdrop remains constructive, but macro is currently setting the tempo.
Bottom Line
Crypto remains trapped between improving long-term fundamentals and a macro environment that refuses to cooperate. Bitcoin continues to act as the market's shock absorber, while altcoins absorb most of the pain. Until liquidity conditions improve or a new narrative emerges, expect rallies to face heavy skepticism and even heavier profit-taking.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.