qfx Now, you might think, “Oh my, what a massive amount!” But fear not, dear reader, for this expiry event was actually smaller than the one last week. The spot markets, those mischievous little sprites, had already begun their ascent after a brief mid-week tumble. 🌈🚀
“The way we buy Bitcoin is we do not move the price of the Bitcoin,” Shirish Jajodia, the corporate treasurer and head of investor relations at Strategy, shared with Natalie Brunell on the Coin Stories podcast, his voice steady as the sea on a calm day.
On a fateful Wednesday night, Ye took to his X account (formerly Twitter, but who’s keeping track?) to announce the arrival of “YEEZY MONEY.” He posted a picture of the contract address with the caption, “YEEZY MONEY IS HERE. A NEW ECONOMY, BUILT ON CHAIN.” Because nothing says “financial stability” like a meme-based currency launched by a man who once tried to run for president. 🏛️💸
Apparently, Circle and Tether – names which sound suspiciously like secret societies – intend to acquire five point three billion dollars worth of Treasury bills weekly. To maintain reserves, you understand. A perfectly reasonable pursuit, of course. Though I suspect those bills might have a subtle aroma of digital desperation. This, they claim, could shave two to four basis points off yields. Two to four! A pittance, really. Yet, apparently, this minuscule shift is enough to unsettle the entire $6 trillion money market. Such fragility! 🏛️
BlackRock just moved $366M of crypto to Coinbase Prime like, “Oh, just a little liquidity check.” Bitcoin dipped to 112K before bouncing back like a caffeinated kangaroo. Meanwhile, TORICO’s stock went parabolic after a manga publisher decided Web3 is the new “shōnen jump.” And the Fed’s about to drop another speech that’ll make everyone panic. Classic. 🏦💥
The Commodity Futures Trading Commission (CFTC), ever eager to fill its pages with more plans, invites the crypto crowd to whisper their secrets, plead their cases, or complain loudly about how they’d do it “better”. Acting chair Caroline D. Pham declared with a hint of theatrical bravado that public input will “assist” them-because what could be more reassuring than a bunch of tech-savvy rebels navigating red tape? 🤔
Traders, those ever-hopeful souls, clapped their hands with glee, thinking, “Hooray! Free money!” 🤑 Analyst Kyle Doops (yes, that’s his real name) called it “bullish fuel for risk assets.” Because nothing says ‘stability’ like throwing money at a problem, right? Meanwhile, others hinted the government was playing nanny, ready to catch the market if it trips. Aww, how sweet! 🤗
In the cold calculus of technical indicators, one truth emerges: money flows out, like tears from a broken heart. The token, dear reader, may yet face a descent deeper than Dostoevsky’s own descent into gambling hell. 🎲💸
The good analyst began with what can only be described as a satirical flourish-a “daily dose of bearish because it’s always bearish forever and ever.” One must admire the commitment to a theme, even if the theme is unrelenting gloom. He then presented the data, which showed that Dogecoin has been engaged in the most fashionable of modern pursuits: doing absolutely nothing for seven months. One hundred and seventy-five days of exquisite sideways ennui. In the world of finance, this is called ‘accumulation’; in the world of art, it is called a very long intermission.
Now, early trading is like a toddler with a new toy-everyone wants a piece, and it gets messy fast. The analytics account Lookonchain, which sounds like a place where you’d find a very bored cat, alleged that “Only YZY was added to the liquidity pool with no USDC.” This is akin to throwing a party and only inviting your closest friends while leaving the rest of the world outside, peering in through the windows. The developers might as well have been selling tickets to a concert that only they could attend. 🎟️
