Speaker 1: Hey, it's Alex with the Token Metrics daily pulse for
Speaker 1: April twenty eighth, twenty twenty six, nine days of ETF inflows,
Speaker 1: then nothing. FOMC is this week, Bitcoin is sitting below
Speaker 1: eighty k and the macro picture just got a lot
Speaker 1: more interesting. Let's get into it, but first a quick
Speaker 1: word from our sponsor. Okay, so here's what's happening. Bitcoin.
Speaker 1: ETFs just snapped a nine day inflow streak, nine days
Speaker 1: of institutional money flowing in, and then right before the
Speaker 1: FED meeting it stops. That's not a coincidence. Institutional buyers
Speaker 1: don't add risk into FED uncertainty, they reduce it. Bitcoin
Speaker 1: is sitting around seventy six thousand right now, down a
Speaker 1: couple percent on the day, and the timing of this
Speaker 1: reversal is exactly the kind of thing that makes traders nervous.
Speaker 1: The question now is whether this is a pause or
Speaker 1: a pivot. We won't really know until after FOMC. So
Speaker 1: where does that leave the broader market? Pretty much everything
Speaker 1: is read, but nothing is dramatic. Total market cap is
Speaker 1: around two point six trillion, down less than two percent.
Speaker 1: Bitcoin dominance is holding at fifty eight percent, stable DeFi,
Speaker 1: which is the on chain lending and trading world, has
Speaker 1: about eighty three billion dollars locked in it right now,
Speaker 1: basically flat. Here's what caught my eye. Though memes are
Speaker 1: up twenty eight percent on the week, roll ups up
Speaker 1: twenty seven percent, gaming tokens up around twenty percent. The
Speaker 1: speculative end of the market is running while Bitcoin bleeds.
Speaker 1: That divergence is either a sign that risk appetite is
Speaker 1: alive beneath the surface, or it's the last burst of
Speaker 1: energy before a bigger flush. I'm watching it closely. Let's
Speaker 1: talk about Block. Jack Dorsey's payments company now holds nearly
Speaker 1: nine thousand bitcoin about two point two billion dollars, and
Speaker 1: they disclosed it through a proof of reserves report in
Speaker 1: plain English. That means they published verifiable on chain evidence
Speaker 1: of exactly how much bitcoin they hold, rather than just
Speaker 1: saying a number in a press release. Here's why it matters.
Speaker 1: Block isn't a software company making a leveraged bet on crypto.
Speaker 1: It's a payments company with real revenue, real products, real customers.
Speaker 1: When a company like that puts bitcoin on its balance sheet,
Speaker 1: it's a different signal, and the proof of reserves move
Speaker 1: makes every other corporate treasury that doesn't do the same
Speaker 1: look a little less accountable. Watch block stock over the
Speaker 1: next week. If it holds or gains, the market is
Speaker 1: rewarding transparency. If it sells off, investors still see bitcoin
Speaker 1: treasury strategy as a distraction from the core business. That
Speaker 1: answer matters for the next wave of companies thinking about
Speaker 1: doing the same thing. Now. Speaking of companies stacking crypto,
Speaker 1: there's a new one, and this time it's a theoreum.
Speaker 1: A company called bitmin is buying ethereum at a pace
Speaker 1: that's catching up to stratus bitcoin buying rate. They want
Speaker 1: to be the ethereum treasury company. What makes this interesting.
Speaker 1: Ethereum lets you earn a yield by staking it, which
Speaker 1: means locking it up to help run the network and
Speaker 1: getting paid for it. So a company holding ethereum isn't
Speaker 1: just making a price bet. It's holding an asset that
Speaker 1: generates income over time. The real test is whether bitmind
Speaker 1: stock can trade it a premium to what its ethereum
Speaker 1: is actually worth the way strategy does with bitcoin, strategy
Speaker 1: got that premium by being first and loudest. Being second
Speaker 1: with a different asset is harder than it sounds quick
Speaker 1: pivot to something that flew under the radar. Israel just
Speaker 1: approved its first regulated stable coin, a digital version of
Speaker 1: the shekel. Most countries are still arguing about government run
Speaker 1: digital currencies in conference rooms. Israel actually did something, and
Speaker 1: the way they built it matters. This isn't a government
Speaker 1: controlled ledger. It's privately issued money on regulated rails. Private
Speaker 1: company issues it, but the government sets the rules. That's
Speaker 1: much closer to how the US Genius Act envisioned stable
Speaker 1: coins than how China built. It's digital. You want if
Speaker 1: another major economy cites this framework within thirty days, the
Speaker 1: regulated stable coin model is moving faster than most people expected.
Speaker 1: A couple of quick hits worth flagging. Fidelity says they're
Speaker 1: cautiously bullish on crypto heading into FOMC week. They like
Speaker 1: what they're seeing on chain, but see the FED meeting
Speaker 1: as the key near term risk and Onto Finance is
Speaker 1: partnering with broad Ridge, one of the biggest financial infrastructure
Speaker 1: firms around, to bring shareholder voting rights to people who
Speaker 1: hold stocks as on chain tokens. In plain English, if
Speaker 1: you own a tokenized version of a stock on the blockchain,
Speaker 1: you can now actually vote your shares like a traditional
Speaker 1: shareholder that closes a gap that's been holding big institutional
Speaker 1: money back from this corner of the market. Small story,
Speaker 1: big implications. All Right, before we get into the risks,
Speaker 1: quick word from our sponsor. Okay, we're back. Let's talk
Speaker 1: about what to watch for. Three things I'd watch closely
Speaker 1: right now. First, the ETF outflow timing inflows snapped right
Speaker 1: before FOMC. If the FED disappoints and outflows continue for
Speaker 1: three or more days after that nine day streak starts
Speaker 1: to look like a local top, not a trend. Second,
Speaker 1: Bitcoin dominance is stuck at fifty eight percent, while alt
Speaker 1: coins are still bleeding even as memes and roll ups
Speaker 1: post big weekly gains. That gap between narrative momentum and
Speaker 1: actual price is the kind of thing that closes badly,
Speaker 1: either alts catch a real bid or the narrative fades
Speaker 1: and they dump harder. Third, there's an unfilled gap in
Speaker 1: Bitcoin's futures market above current price and FOMC lands this week,
Speaker 1: prediction markets are only giving a seven percent chance of
Speaker 1: three rate cuts this year, and there's even a fourteen
Speaker 1: percent chance of a hike for crypto. A hike would
Speaker 1: be the worst macro outcome of the year. Looking ahead,
Speaker 1: FOMC is the obvious one. Any surprise moves crypto immediately
Speaker 1: as a risk ass set, and the market is not
Speaker 1: priced for hawkishness. Also watch megaeth's launch prediction. Markets are
Speaker 1: giving it around a sixty percent chance of launching above
Speaker 1: a one point five billion dollar fully diluted valuation. That's
Speaker 1: a live test of whether ethereum ecosystem excitement can convert
Speaker 1: to real capital right now, and keep an eye on
Speaker 1: that future's gap above current bitcoin price. Whether bulls reclaimant
Speaker 1: heading into the weekend tells you a lot about whether
Speaker 1: this pullback is a pause or something more serious. By
Speaker 1: the way, if you want daily market signals and weekly
Speaker 1: question and answer breakdowns, check out token metrics Signal. It's
Speaker 1: our entry level premium plan. Head to tokenmetrics dot com
Speaker 1: to learn more. This is educational content, not investment advice.
Speaker 1: Always do your own research. I'm Alex, See you next time.