The recent price action removes bitcoin from a precarious technical position. Our long-held case that the price would consolidate in this range before moving higher in mid-summer remains intact.
This is reinforced by the first hard evidence of serious institutional buying as the State of Wisconsin backs up the truck. We also point to more evidence of rising than falling prices in the macro section, which threatens the “inflation is beaten” narrative. Are Central Banks willing to accept higher inflation as the only plausible way of managing the debt pile?
Mining difficulty has soared, but at these prices that’s unlikely to change. That’s good news for the asset’s security. ETH has bounced, but is it sustainable? Good news on the regulatory front as the Senate rejects a pernicious SEC rule change.
Mind-bending things are happening in the world of Artificial Intelligence. We highlight the latest upgrades at OpenAI and Google, and how they intersect with crypto. RNDR and RUNE, two current favourites, are commented on. Finally, in the CryptoTutor section we explain what nodes are and their part in securing the blockchain.
- Technical analysis Back on the bull, post halving expectations, ETH rises
- On-Chain Mining difficulty examined, valuation update
- Macro The inflation mystery, Wisconsin buys BTC
- Cryptoverse AI upgrades and the implication for crypto. RUNE and RNDR.
- CryptoTutor Nodes explained