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...
May 19, 2026 | Chainletter, Weekly newsletter
Summary We discuss the lacklustre performance and declining activity of Bitcoin. Diminishing transaction fees continue to pose a long term threat to miner rewards, especially with the halving only two years away. The only buyers seem to be the progeny of Wall Street...
May 19, 2026 | Chainletter
Crypto has held up remarkably well during a period of elevated financial and geopolitical risk. We explore potential reasons behind this, and are reminded of the value of sound money in a fragmented world. MARKET UPDATE Crypto outperforms in a risk-off environment...
