GM!
Today’s top news:
Crypto majors tumble as oil jumps to $100; BTC at $76,400 White House advisor teases major Strategic BTC Reserve announcement soon Fidelity says crypto is finding a floor, ETF demand could break 4-year cycle Bitcoin dev announces plans for hard fork into eCash, would reassign Satoshi coins Gemini becomes first regulated exchange to launch agentic trading Fidelity Says The Crypto Market Is Finding Its FloorDespite Bitcoin’s 52% drawdown from its October 2025 all-time high, three key underlying metrics—unrealized profitability, momentum, and network usage—are all improving.
Bitcoin’s NUPL turned positive for the first time since January. BTC dominance is rising as capital concentrates in the most liquid asset, a pattern that has historically preceded broader altcoin rotation Negative futures funding rates look bearish but are likely tied to institutional hedgingETH and SOL show divergence between price and network activity, with protocol-level usage holding up despite lagging token prices. Fidelity frames this as a positive.
On the bear case: a traditional four-year cycle bottom would point to November 2026, and prior cycles saw 70%+ drawdowns from the all-time high. Bitcoin’s February low was roughly 52% off the peak, short of that threshold.
But Fidelity does share that ETF inflows and corporate treasury demand create structural buying pressure that didn’t exist in prior cycles—and thus the bottom may in fact be in…
Every BTC holder gets eCash 1:1 at the fork. The chain is built around Drivechains, Sztorc’s decade-old scaling proposal that Bitcoin Core developers have repeatedly refused to merge.
There is some controversy, as Sztorc planned to reassign up to 500,000 of Satoshi’s ~1.1 million dormant BTC to early investors as a funding mechanism, marking the first time any Bitcoin fork has proposed touching Satoshi’s stack. Community reaction was roughly 80-85% negative.
Sztorc has since posted a revised version removing the Satoshi coin component, though the final structure remains unconfirmed and no major miners or exchanges have signaled support.
Built on Anthropic’s Model Context Protocol, the product lets users connect Claude, ChatGPT, or any MCP-compatible AI to their Gemini account to autonomously execute trades, monitor markets, and manage risk based on predefined strategies.
Pre-built Trading Skills modules handle market data, spread analysis, and historical price retrieval at launch, with more planned. Coinbase’s x402 protocol and Stripe-backed Tempo’s Machine Payments Protocol are building similar infrastructure on MCP as well.
Notably, ETH was flat on the week despite Tom Lee’s biggest weekly buy of the year. A sign that there are some big sellers out there…
Witt said the administration has been working through the legal and operational framework needed to implement Trump’s March 2025 executive order, which directed the government to treat its approximately 200,000 seized BTC as a permanent reserve asset.
The expected announcement will address the accumulation framework—how the reserve grows beyond existing seizure-based holdings. Separately, Rep. Begich of Alaska said he is days from reintroducing the SBR legislation, now called the American Reserves Modernization Act, which would codify the reserve into law and direct the government to acquire 1 million BTC over five years.
