☕️ Is This The Start of a Bitcoin Institutional Stampede? 🐂💨

Gm ser,

State of the Market: Bitcoin's Naptime, Altcoins' Showtime? Institutions are in, and a glimpse of Runes.

Okay, fellow degens, as promised, Bitcoin's weekend was about as exciting as watching paint dry. 😴  But hey, while Bitcoin's taking a nap, let's turn up the volume and see what shenanigans those altcoins are getting into! 🔊🚀

Some analysts are predicting that those non-Bitcoin cryptos could hit rock bottom sometime in June 📉. Why the doom and gloom? Well, apparently those newfangled Bitcoin ETFs aren't bringing in enough fresh meat to the crypto casino, and the market's feeling a bit meh. 😴

But wait! There's a glimmer of hope. ✨ Remember what happens after a market hits rock bottom? That's right, it can only go up! 🚀 And once Bitcoin decides to wake up from its nap and start climbing again, altcoins are gonna be right there, trying to steal the spotlight.

But here's the catch: Bitcoin needs to make a clear move first. Those altcoins are basically Bitcoin's hype squad - they only get really excited when the big dog is leading the charge. So, we're all waiting with bated breath for Bitcoin to break out of its current rut.

Oh, and those brainy financial folks are keeping an eye on something called the M2 money supply. If that thing turns positive, it could mean inflation's about to rear its ugly head again, and that might make people consider investing in alternative assets like... you guessed it, altcoins! 🤑

The altcoin crystal ball is a bit foggy right now.🔮 But if Bitcoin gets its act together, and a few other things fall into place, we could be in for one heck of an altcoin party later this year! 🥳

Chart of the Day.

Chart by Rekt Capital (@rektcapital) / X 

https://twitter.com/rektcapital/status/1789345116299145417 

Bitcoin's current chart is looking like a blast from the past – the 2016 halving cycle, to be exact. Some analysts are saying this could mean we've hit the bottom, but don't break out the champagne just yet. 🍾

Remember, the past doesn't always predict the future. 🧙‍♂️ But it's fun to speculate! One analyst, Rekt Capital (love the name), thinks we're in the "last pre-halving retrace" phase. Back in 2016, that led to a 48% spike six months later. Not too shabby!

Now, here's where things get spicy: 🌶️crypto is as unpredictable as a cat on a sugar rush. But hey, at least the charts are giving us something interesting to make our crazy projections.

Most important news of the day.

Alright folks, looks like those big-shot banks are starting to dip their toes into the crypto pool! JP Morgan and Wells Fargo are now holding Bitcoin through the ETFs. Guess even they can't resist the allure of digital gold 💰.

Meanwhile, BlackRock's spot Bitcoin ETF (IBIT) is becoming the cool kids' club for investment firms. Everyone wants in on the action! Is this the start of a Bitcoin institutional stampede? 🐂💨

And get this: David Marcus, the PayPal guy, thinks Bitcoin's Lightning Network (that super-fast payment thing) could become the next Visa.  Imagine buying your morning coffee with Bitcoin.

Even in China, where crypto's been banned for years, people are buzzing about those new Bitcoin ETFs in Hong Kong. Maybe they'll find a way to sneak in on the action. 😉

But let's not forget the memecoin madness! It's a wild world out there, with projects using the most ridiculous tactics to pump their tokens. It's like a circus, but with more furries and laser eyes. 🤡

Our Daily Pick: Runes, a way of bringing the 'shitcoins' to Bitcoin! 💩🪙

So, remember that guy Casey Rodarmor who unleashed Ordinals on the Bitcoin world? Well, he's back with another wild idea called Runes. It's basically a way to make "shitcoins" (his words, not ours) on the Bitcoin blockchain, just like those meme coins on Ethereum or Solana. But instead of being some weird second layer thing, Runes live right on the Bitcoin blockchain itself.

Hold Up, How Does This Rune Thing Work?

It's like Ordinals, but for tokens that are all the same (fungible, if you wanna get fancy 🧐). Each token gets a special ID called a Runestone, and they live on those unspent transaction outputs (UTXOs) on the blockchain. Think of them like little digital piggy banks holding your Runes. 🐖

So, What's the Big Deal?

Well, Runes can be used for all sorts of things, like making new digital assets or maybe even doing some DeFi magic. But honestly, with the way Rodarmor's been talking, it sounds like these are mostly for fun and games. Get ready for some seriously weird memecoins on Bitcoin! 😜

Halving Hype + Runes = Blockchain Bonanza

Runes launched right after Bitcoin's halving, which was a genius move. Miners are getting less Bitcoin from each block they create, so they're happy to rake in those juicy transaction fees from all this Rune-related activity. Cha-ching! 🤑

But Wait, There's a Catch...

All this activity is clogging up the Bitcoin blockchain and making transactions more expensive.  So, while the miners are happy, regular folks are getting annoyed. 😤  Looks like it's time to start looking into those Layer 2 solutions like the Lightning Network to keep those transaction fees in check.

Bottom Line

Runes are a wild experiment, that's for sure. They could open up a whole new world of possibilities for Bitcoin, or they could just be a passing fad. Either way, they're a sign that Bitcoin is evolving, and it's not going to be boring! 🚀

Have a magical week ✨

-Pep