One-liners across all four coverage areas: Treasury Companies, Diversified Crypto, Bitcoin Mining, and Macro & Crypto FX.
Bitcoin slipped 5.1% as hot labor data revived Fed hike bets and a Liquid Network exploit rattled nerves, yet altcoins told a wildly different story. Near (+28.8%), Raydium (+72.4%), and Kaspa (+23%) ripped higher on AI/DePIN narratives, buybacks, and supply-cap milestones, while Polkadot (+26.8%) and Cosmos (+19%) rode ETF and institutional-integration momentum. Meanwhile, majors like Circle (-12.5%), Robinhood (-9.1%), and Bitmine (-8.5%) sold off despite genuinely bullish headlines, Arc’s looming launch, record Layer-2 fee generation, and a 65th straight ETH buy, a reminder that price and fundamentals aren’t always in sync right now.
On the macro side, a surging yen hammered the dollar to multi-month lows, gold dropped 3% on that dollar weakness even as Middle East tensions kept oil elevated, and Treasury yields climbed on mounting debt-supply concerns ahead of critical CPI/PPI prints.
In mining and AI infrastructure, the pivot from Bitcoin hashrate to AI compute accelerated, Hut 8’s tie to Anthropic’s $35B Nvidia/Lambda deal and Iren’s $2.4B financing round stood out as the sector’s infrastructure buildout hits full stride.
Full breakdown of all 30+ tickers inside.
Is Coinbase (RHS) failing to keep up with Bitcoin (LHS)? Or undervalued?
