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  • 👀 It happened

👀 It happened

PLUS: Fidelity's new recommendation

GM everyone. This is 2036. We scroll for gems all day so you don’t have to.

Here’s what we’re serving up today 🍲: It happened. Bitcoin broke past the $53,000 level it had been battling for the last two weeks. What happens next?

Let’s dig in.

Yesterday, the crypto community woke up to a lot of green.

Bitcoin finally broke past $53,000. Right now, it's sitting above $59,000 - a cool 16% higher.

This is the first time in Bitcoin’s history that it has risen so much before the halving.

And it’s left every crypto analyst totally in the dust.

The Bitcoin ETF inflows keep pouring in.

And it’s throwing every prediction out.

Fidelity now recommends a 1-3% allocation to crypto:

And they manage $4.5 TRILLION of assets.

So, to all my fellow Bitcoin holders - congratulations 🎉

Now - the real fun begins.

If Bitcoin consolidates here, it likely means that altseason is just around the corner.

For those who need a refresher, he’s roughly what the crypto cycle looks like:

Last week, I wrote about ETH’s recent outperformance.

And on Monday, I wrote about Solana as the next likely contender for up-only + how to position yourself in the Solana ecosystem.

It looks like the newsletter was timely.

In the last 48 hours:

  • $SOL is up +9%

  • $WIF - the strongest memecoin on Solana - is up over +100%.

  • Solana AI coins are up +50-100%

So what does this mean?

The general sentiment now is risk-on.

If altseason kicks off, it pays to be fully allocated.

Now:

  • This doesn't mean taking ridiculous risks. Don’t gamble everything on a random memecoin. Even big alternative Layer 1s like SOL or SUI will likely do well.

  • Be mindful of hubris.

Large sell-offs often occur when we least expect them.

Because Bitcoin ETF flows are increasingly correlated with the global macro picture, any big sell-off in stocks would probably be bad for crypto.

But with:

  • the Bitcoin halving in April

  • continued flows into the Bitcoin ETFs and an ETH ETF around the corner

  • the invalidation of the traditional crypto cycle (which called for a major leg down after Bitcoin hit $48K)

  • an upcoming US presidential election

  • potential rate cuts

… it’s hard to be bearish right now.

Bitcoin’s having the time of its life.

And on the fringes of memecoins and AI - it looks like altseason is about to start 🚀

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.