🪖 Recovery after weekend nuke

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Good Morning!

After a turbulent weekend, markets are starting to recover with spot ETFs in Hong Kong being approved. Now, we see how the traditional markets react. 👀 

Markets

Bitcoin Rebounds After Weekend Selloff as Iran-Israel Tensions Ease (2 minute read)
Cryptos bounced back with style on Monday, shaking off a weekend slump triggered by jittery markets reacting to Iran’s drone and missile strike on Israel. Despite the weekend wobble, the vibe around Bitcoin and other Crypto remains upbeat. However, the dip does flash a warning sign: more drops could be in the cards if geopolitical tensions keep investors on edge, and crypto can still see huge retraces in a bull market.

BTC, ETH Rise as Hong Kong Bitcoin ETF Applicants Say They've Been Approved (3 minute read)
Bitcoin (BTC) and Ether (ETH) saw their prices climb, with Bitcoin breaking above $66,500 and Ether hitting $3,240. This surge came as buzz grew around Hong Kong welcoming spot crypto ETFs, thanks to early peeps from issuers like China Asset Management and Bosera Capital on WeChat. They might have jumped the gun, announcing before the official nod from the Securities and Futures Commission (SFC), leading to some hasty post deletions. If true, this move could be a game-changer, offering investors outside the U.S. market hours a new way to play.

Crypto Owners a Growing Force Heading into 2024 Election (3 minute read)
Crypto holders, you’re in the spotlight! As we gear up for the next U.S. presidential face-off between Biden and Trump, your digital wallets might just tip the scales. Galaxy Digital’s recent market commentary highlights how "crypto voters"—especially younger folks and communities of color—could swing the outcome in a tight race.

A March poll by Paradigm shows a notable 19% of registered voters are crypto enthusiasts, with over 11 million owning upwards of $1,000 in digital currency. And here’s a spicy tidbit: crypto owners are currently leaning more towards Trump, favoring him 48% over Biden’s 39%. So, as November edges closer and market dynamics get even more entwined with political currents, your blockchain ballot could be more powerful than ever.

Best of Crypto Twitter

Over the weekend, as Iran launched drones and missiles at Israel, the crypto markets TANKED.

We even saw the return of GCR who hasn’t tweeted since 2023. GCR is known to be one of the best traders in Crypto and has huge influence.

Misc

US government tops global Bitcoin holdings with $15b in assets (2 minute read)
The U.S. government is sitting on a digital gold mine, holding a massive stash of 212,847 Bitcoins, making it the second-largest public holder of the cryptocurrency—right behind MicroStrategy's 214,246 BTC, valued at a cool $14.8 billion. But that's not all; Uncle Sam also boasts hefty caches of Ethereum and stablecoins like USDC and Tether, with these holdings pushing close to $200 million. Across the pond, the UK isn't far behind, securing the podium with Bitcoin assets worth nearly $4.2 billion.

Solana DEXs Volume is Back to $1 Billion Amid Heightened DeFi Scrutiny (2 minute read)
Solana's decentralized exchanges (DEXs) are riding a high, smashing past the $1 billion mark in trading volume and settling at a hefty $1.23 billion this week. That's a significant jump from last week’s sub-billion figures. Leading the charge in the last 24 hours was SLERF, clocking in an impressive $48.5 million. Not to be outdone, the MEW/SOL and WIF/SOL trading pairs also made some noise, pulling in $45.7 million and $22.5 million, respectively. Solana’s DEX scene isn't just heating up—it’s on fire!

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