Speaker 1: Hey, it's Alex with the Token Metrics Daily Pulse for
Speaker 1: April fourteenth, twenty twenty six. Bitcoin hit seventy five thousand
Speaker 1: dollars today. Ethereum had its best single day in months,
Speaker 1: and somehow the funds were actually selling. Let's get into it,
Speaker 1: but first a quick word from our sponsor. Okay, So
Speaker 1: here's what's happening. Bitcoin touched seventy five thousand dollars today
Speaker 1: for the first time since early February. Ethereum jumped about
Speaker 1: eight percent in a single day. Total crypto market cap
Speaker 1: climbed back above two point six trillion. Big numbers, green candles,
Speaker 1: good vibes, right accept Spot ETFs posted two hundred and
Speaker 1: ninety one million dollars in net outflows last week. That's
Speaker 1: the part that should make you stop scrolling. The textbook
Speaker 1: says fund inflows drive bitcoin price higher. Last week, the
Speaker 1: opposite happened. Funds were net sellers and price ripped anyone.
Speaker 1: So who's buying Probably a mix of spot market buyers,
Speaker 1: over the counter desks, and retail stepping back in after
Speaker 1: months on the sidelines. And here's the tell. Bitcoin dominance
Speaker 1: held steady at fifty seven percent through the entire move,
Speaker 1: which means this wasn't a broad rush into alt coins.
Speaker 1: It was targeted someone wanted bitcoin specifically. There's a having
Speaker 1: cycle angle here too. We're past the halfway point and
Speaker 1: price gains are trailing prior cycles at the same stage.
Speaker 1: Either the cycle is playing out slower, or the old
Speaker 1: playbook has changed, maybe both. Quick picture of where things stand,
Speaker 1: Bitcoin at seventy five k, Ethereum up, Big dominance flat
Speaker 1: at fifty seven percent, so alt coins moved in lockstep
Speaker 1: rather than leading. On the narrative side, Meme tokens are
Speaker 1: up twenty one percent on the week. The highest risk
Speaker 1: corner of the market is outperforming everything with actual utility.
Speaker 1: Game five is the surprise second at six sixteen percent
Speaker 1: when those two lead. Retail is usually back and feeling confident,
Speaker 1: and prediction markets are telling a very different story than
Speaker 1: the price action. Less than one percent probability on bitcoin
Speaker 1: hitting eighty two thousand by tomorrow, only six percent odds
Speaker 1: on a theory of reaching seventy five hundred by year end,
Speaker 1: even after today's move. The takeaway is the market is
Speaker 1: treating this rally as a balance, not a new leg.
Speaker 1: Two FED rate cuts this year. Prediction markets put that
Speaker 1: at about fourteen percent. The macro ceiling is real. Let's
Speaker 1: start with the SEC, because this one has legs. SEC
Speaker 1: staff issued a bulletin exempting crypto interface providers, including wallets,
Speaker 1: front ends, and aggregators, from mandatory broker registration. Why this matters.
Speaker 1: Regulators drew a legal line between the tool you use
Speaker 1: and the transaction itself. That's the distinction the industry has
Speaker 1: been fighting for since twenty twenty two. Every fintech building
Speaker 1: on crypto rails can now stop compliance uncertainty as a
Speaker 1: reason to stay out. The door is open, but there's
Speaker 1: already a second fight. Forming Circle CEO is pushing back
Speaker 1: on liability questions following the drift Haack, asking where the
Speaker 1: line sits between interface provider and custodian. That fight will
Speaker 1: shape the next wave of defied product design. Watch whether
Speaker 1: Meta Mask, Phantom or coinbase wallet announce new features in
Speaker 1: the next week. If they do, the ruling is already
Speaker 1: being put to work next. Deutsche Burr Zoo and Kraken,
Speaker 1: Germany's mainstock exchange operator, is buying a stake in Kraken
Speaker 1: for two hundred million dollars. Think of Deutsche Burr Zoo
Speaker 1: as the company that keeps European stock markets running behind
Speaker 1: the scenes, the plumbing for trades, settlements and safekeeping of assets.
Speaker 1: When they buy into a crypto exchange, they're buying a
Speaker 1: foothold in crypto infrastructure before the two worlds fully merge,
Speaker 1: which means this isn't a bed on token price is
Speaker 1: it's a bet on market structure. Same playbook as Visa
Speaker 1: backing Stripe's Tempo blockchain. Here's the detail that really got
Speaker 1: me though. Kraken just disclosed an extortion attempt and a
Speaker 1: data breach affecting roughly two thousand clients. Someone at Deutsche
Speaker 1: bur Zoo saw that headline and still wired two hundred
Speaker 1: million dollars. That tells you how serious the strategic intent
Speaker 1: is on Tempo. Visa and Standard Chartered are now validators
Speaker 1: on Stripe's blockchain. Validators are basically the engines keeping the
Speaker 1: network honest. They're not just users, they're running the infrastructure itself.
Speaker 1: The takeaway is this is what institutional adoption actually looks like,
Speaker 1: not conference announcements, banks running nodes. And then there's the
Speaker 1: security story, which is not great. Web three hacks cost
Speaker 1: four hundred and sixty four million dollars in Q one alone.
Speaker 1: That pace could rival twenty twenty two, one of the
Speaker 1: worst years on record. And Hyperbridge got exploited just under
Speaker 1: two weeks after posting an April Fool's Day hack prank.
Speaker 1: You can't joke about getting hacked and then actually get
Speaker 1: hacked without that becoming the story. As cross chain bridges
Speaker 1: and automated protocols multiply, the attack surface grows faster than
Speaker 1: the defenses. A few quick hits, Tether launched a self
Speaker 1: custodial wallet supporting Tether, bitcoin, and tokenized gold, going direct
Speaker 1: to users and cutting out the exchange middleman. The DOJ
Speaker 1: opened a forty million dollar compensation process for one coin
Speaker 1: fraud victims, a reminder that enforcement timelines in crypto are
Speaker 1: measured in years, not quarters. And Starkware fired staff after
Speaker 1: stark net revenue collapsed ninety eight percent, not a correction,
Speaker 1: a near total evaporation of activity on the network. All right,
Speaker 1: before we get into the risks, quick word from our sponsor. Okay,
Speaker 1: we're back. Let's talk about what to watch for. Three
Speaker 1: things on my radar. First, this rally happened while fun
Speaker 1: flows were negative. If the buyers here are retail and
Speaker 1: leverage traders, which means one bad macro headline could unwind
Speaker 1: things fast. Watch whether fun flows turn positive in the
Speaker 1: next few days. Second, prediction markets are not celebrating less
Speaker 1: than one percent on bitcoin above eighty two k by tomorrow,
Speaker 1: six percent on ethereum at seventy five hundred by year end,
Speaker 1: fourteen percent on two FED cuts. The people betting real
Speaker 1: money are pricing a stall, not a continuation. Third, four
Speaker 1: hundred and sixty four million dollars in hacks in three months.
Speaker 1: Every new bridge and cross chain integration is a new
Speaker 1: attack surface. The gap between what's being built and what's
Speaker 1: being protected is still wide. Two things to watch this
Speaker 1: week the Deutsche Burzu and Kraken deal. If we see
Speaker 1: any announcement about operational collaboration beyond the equity stake that
Speaker 1: confirms the strategic intent and probably triggers copycab moves from
Speaker 1: other traditional finance institutions, and the SEC wallet exemption follow through.
Speaker 1: Watch whether major wallet providers actually move on it with
Speaker 1: new features or market entries in the next seven days.
Speaker 1: If nothing moves, the ruling has less immediate commercial impact
Speaker 1: than the headline suggests. If you want the full written
Speaker 1: breakdown with charts, source links, and the complete prediction market data.
Speaker 1: Check out our newsletter at tokenmetrics dot com and if
Speaker 1: this was useful, share it with someone who's trying to
Speaker 1: make sense of the market. It really does help the
Speaker 1: show grow. This is educational content, not investment advice. Always
Speaker 1: do your own research. I'm Alex, See you next time.