These 8 Tokens Have Hit New All Time Highs Against Bitcoin 🚀

State of the Market: Bitcoin Frenzy, Futures, Price Discovery, and the CPI Roullete! 

Alright, Bitcoin gang, let’s dive into the latest scoop: Bitcoin futures open interest has hit a 16-month high! 🚀 This means the market is buzzing with activity. Recently, BTC took a dip from $70,300 to $67,500 – a 4% slide in just two days. But fear not, the $66,000 support level has been rock solid since May 17, keeping the bulls happy. 🐂📈

This spike in futures open interest, especially on big platforms like CME and Binance, shows that the big dogs are hungry for Bitcoin. 🐋💼 While there's a moderate wave of optimism, traders are also watching out for potential cascading liquidations if leverage gets out of hand. It’s like riding a rollercoaster without a seatbelt! 🎢⚠️

Bitcoin is on the brink of a new price discovery phase, but first, it needs to bust through the crucial $69,000 resistance level. Analysts are saying that smashing this previous all-time high could send BTC to new record prices. Everyone's glued to this "last resistance" like it's the final boss in a video game. 🎮🏆

Pushing toward $69,000, Bitcoin's got a tailwind from positive U.S. macroeconomic data, including GDP and jobless claims. This data hints at looser financial conditions, which is great news for risk assets like Bitcoin. Even the U.S. Dollar Index (DXY) took a tumble, adding fuel to the bullish fire. 🔥💵 Analysts are eyeing $69,000 as the magic number, with support levels at $66,800 being the safety net.

Crypto guru Markus Thielen dropped some knowledge: Bitcoin needs a CPI print of 3.3% or lower to hit those sweet new all-time highs. 🎯 Recent BTC price moves have been tethered to inflation data, with higher-than-expected CPI results sending prices south. Despite strong inflows into spot Bitcoin ETFs, the upcoming CPI numbers are make-or-break for Bitcoin’s price journey. If inflation cools down as predicted, BTC could be blasting past its previous highs. 🚀🌕

Chart of the day.

Alright, crypto enthusiasts, get this: Since the FTX meltdown in November 2022, only eight digital asset tokens have hit new all-time highs (ATH) against Bitcoin. 🚀 This juicy tidbit comes from the mysterious X profile, Huma Capital. 🕵️‍♂️📊

This data underscores a major trend in the digital asset market. The fact that so few tokens have reached ATHs against Bitcoin shows just how tough the post-FTX landscape is. 🌪️ It’s a wild world out there, folks, with market dynamics and challenges keeping most digital assets from shining as bright as they could.

So, as we navigate the crypto seas post-FTX, keep your eyes on those standout tokens – they’ve managed to defy the odds and set new records. 🌊

Most important news of the day.

BlackRock just tweaked its Ethereum ETF application, and the buzz is that we might see a launch by June. 🗓️ Analysts think this shows some serious teamwork between issuers and the SEC. Teamwork makes the dream work, right? 🤝💼

Gemini is set to distribute $2.18 billion in crypto back to Earn users, marking a whopping 232% recovery since withdrawals were frozen in November 2022. 🥳 Talk about a comeback! 💪💸

Mastercard launched its Crypto Credential initiative with the first peer-to-peer pilot transactions. They’re aiming to roll this out to over 7 million users across participating exchanges. That’s a lot of swipes! 📲🌐

The New York Stock Exchange is jumping into the Bitcoin game with options contracts tied to the CoinDesk Bitcoin Price Index. Traditional finance meets crypto – what could go wrong? 🤷‍♂️💼

The US Treasury dropped a report outlining potential risks of NFTs, including concerns about terrorist financing, theft, and even funding nuclear proliferation. 🚨 NFTs: Not just for art anymore. 🖼️💣

The Biden campaign is reaching out to crypto industry players for policy guidance, marking a shift towards understanding digital assets. 🧐 Looks like they’re finally getting with the program. 🗂️📊

Elon Musk shot down rumors that he discussed crypto with Trump, but he’s still all about crypto as a way to shift power from the government to the people. 🔋💬 Power to the crypto-peeps! 💪🌐

Our Daily Pick: Ponke’s Wild Ride on the Solana Express! 🎢🚀

Alright, crypto degens, it’s Meme Friday! Let’s talk about Ponke – a DeFi project on the Solana network that’s described as a “degenerate gambler with anger issues,” but let’s just say it’s a unique ride. 🎰😡

Funding and Valuation:

• Market Cap: $181,516,007 💰

• Trading Volume: $32,120,915 💸

• Circulating Supply: 429,777,374 PONKE 🌐

• Maximum Supply: 555,548,158 PONKE 🔢

• Tokenomics: Mint it, burn it, blacklist it – Ponke's got all the moves. 🔥🚫

Codebase and Security: Ponke's been under the magnifying glass of Certik, and here's how it stacks up:

• Code: 30.00 (Bottom 5%) 🛠️🚨

• Fundamental: 35.69 (Top 45%) 📊

• Operational: 82.57 (Top 30%) 🏭

• Market: 93.85 (Top 10%) 📈

• Community: 93.58 (Top 10%) 👥

• Overall Security Score: B (Top 40%) 🛡️

A pure memecoin structure with shaky fundamentals but a strong, active community – what more do you need? Maybe just some faith and a sprinkle of luck. 🍀✨

Community and Communication: Ponke is buzzing on social media:

• Telegram: 21,400 members 💬

• Twitter: 76,800 followers 🐦

The team is always active and engaging. No ghost towns here! 👻

Token Distribution: Details on token distribution and mechanisms to prevent centralization? Nada. 🤷‍♂️ But hey, that’s part of the thrill!

Reputation: Surprisingly, no significant negative reviews or scam allegations. So, that’s a plus! 👍

Final Thoughts: Ponke sits at number 330 by market cap. With over 75% of tokens in circulation, it’s an intriguing bet. But what about the remaining 25%? 🤔 Will they make it rain or cause a storm? Only time will tell.

So, there you have it, folks – Ponke, the wild card of the Solana network. Keep those diamond hands strong and your memes even stronger! 💎✋🔥

Enjoy the weekend ser,

-Pep