Todays Top Stories

Editor: @PhoenixxDown

It Might Be Time to Do the Unthinkable

Let’s bring him back. Once our worst adversary, at least we knew where we stood with him—he hated us and everything we stand for.

Fear not, the title of today’s newsletter is nothing more than flagrant clickbait. News is scarce. Or would you rather the 55th iteration of “Wow, prices are down again today”? There’s only so much water left in that well.

That said, there is a point to the title, so hear us out.

David Sacks held a press conference last night, which was received about as well as if he’d declared Bitcoin worthless like Bill Gates did recently. Anticipation was high, as this was the first time Sacks was speaking publicly since the Trump administration took office on January 20th.

The main criticism? It was underwhelming. Most of what was said could have been summed up in a single tweet, and there was very little new information that hadn’t already been discussed.

Was It Bearish?

Not at all. In fact, if Gary Gensler had said the same things a year ago, prices would have likely skyrocketed. Hence, the reason for today’s title, so not entirely clickbait.

That tells us one thing—the market has already priced in everything Sacks mentioned.

This leaves us with the assumption that $100K (or thereabouts) is Bitcoin’s floor until actual government action is taken, or another major catalyst takes shape. That doesn’t mean we won’t see dips, possibly large ones, but it does suggest this is the level traders see as reasonable based on what we currently know.

The problem? Crypto traders are exceptionally impatient. Hilariously so. Observe:

Maybe he was finishing a sandwich. Maybe he was going over his notes one last time. Either way, just a few minutes of uncertainty sent some people scrambling for the sell button. 

Now imagine what happens if the Strategic Bitcoin Reserve (SBR) takes longer than a year. Potential carnage.

Despite the lack of groundbreaking news, there was still plenty of positive sentiment to take away from the presser. Brad Garlinghouse chimed in with some thoughts, and Sacks himself replied with a bullseye emoji:

The Bigger Picture

Sacks confirmed that the first directive from President Trump was to explore a Strategic Bitcoin Reserve. While that sounds bullish, the reality is that this will be a slow-moving process:

📌 100 days to propose a bill.

📌 252 days (on average) for a bill to pass through Congress and the Senate.

📌 Total: ~352 days before we even see real action.

That means the proposal itself could mark the top of the bull run. The market will have already priced it in, and by the time the money actually arrives, the hype may be gone.

Many traders were expecting an immediate "we’re buying billions of BTC today" type of announcement. Instead, we got talk of the golden age of assets, regulatory clarity, and the importance of stablecoins—things that should be bullish but were met with disappointment.

The reality is, markets hate waiting. The slower this process moves, the more likely we are to see Bitcoin chop sideways or even correct further. As if we haven’t suffered enough of that already, but it is what it is.

However, none of this changes the bigger picture—Bitcoin is now being taken seriously at the highest levels of government.

For now, patience is key. It may not be as exciting as an instant pump to $200K, but the foundation being laid now could define the next decade.

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Daily Bites: Today’s Top Articles

Todays Markets

Ordinals

The carnage from yesterday’s broader market shenanigans leaves Ordinals standing alone, bold as brass, unbothered, with many collections— including Quantum Cats, Pizza Ninjas, and Yokai Avengers— seeing double-digit percentage gains on the day. Quantum Cats, in particular, was bolstered by the news of a $30,000,000 raise.

Runestone moves up into 5th place by volume, while OMB drops to 9th but continues to hold firmly at 0.126 BTC, a long-standing range.

Notably absent from the top 10 today are Based Angels and NatCats, both of which have been regulars as of late.

Runes (Bitcoin Memecoins)

It’s quite the opposite for Runes, as red dominates the board today. Astonishingly, only a little over 1 BTC of volume was traded on Magic Eden for $DOG in the past 24 hours, signaling extreme lows for attention at the moment.

That DogToTheMoon sitting in 7th place? If you haven’t guessed already from the -100% floor price, it’s a fake copycat.

$ZBIT is the only Rune in the top 10 that hasn’t lost value today, posting a 6% gain. Despite all the talk of friction, at some point, we will hit a bottom (I am NOT calling for it now, that never works), and these valuations will look minuscule in hindsight.

We’ve seen this movie play out before—why would this time be any different, especially with a more mature ecosystem?

Over on OdinFun, OdinDog continues to dominate both price and volume but has dropped sharply since yesterday. Is the steam running out on Odin? It would be foolish to count it out this early, especially with the support behind it and the brains of Bob Bodily running the show.

Is this top 5 where we should be taking nibbles at? Or will something new ascend soon and assert itself in the mix?

Todays Opportunities

Giveaways

There are currently no raffles taking place today, but check back tomorrow for what’s next so you don’t miss out.