Jun 11, 2026 | Chainletter
Bitcoin is back at its 2021 peak and nobody can quite agree why. Around it, markets are behaving in ways that don’t fit the traditional models: bonds and gold telling opposite stories, indices propped up by passive flows, and a US$4 trillion IPO wave being...
Jun 3, 2026 | Chainletter
Why bitcoin’s breakdown could be crypto’s most important moment. Bitcoin and most crypto prices have fallen sharply over the last few weeks. It’s hard to see how bitcoin recovers from this point. Given its dominant market share of the sector that’s clearly...
May 28, 2026 | Chainletter
Executive Summary The central question this report addresses is one we have heard repeatedly since publishing History Doesn’t Repeat, But It Rhymes. What exactly do you own when you buy a crypto token? Most investors assume the answer is that token ownership...
May 19, 2026 | Chainletter
In this edition: Market: Bitcoin rallies to an important level – for several reasons we are nervous. Global Liquidity indicators are flashing warning signs and volatility has collapsed. On-Chain: Bitcoin transactions pick up, ETH underperforms, the altcoin rally...
May 19, 2026 | Chainletter
In today’s note: In a hyper-financialised world, is bitcoin a lead indicator of global liquidity conditions? US$74,500 – a massive level for bitcoin The Technology of War – Guns vs Spears Pause for Effect – the ceasefire as a prelude to the final...
