Bitcoin Dominance Soars & ThorChain Drama = Profit?
Bitcoin dominance is climbing, ThorChain chaos shakes up the market, and we bought the dip (again). Is RUNE heading back to $3?
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Hey there, Hodlers!
Lately, weekends in crypto have been painful.
Then on Monday, TradFi swoops in like a Wall Street superhero and saves the day. đŠžââ
Markets find a new narrative throughout the week to rally on, then back to weekend dips.
Rally. Rekt. Repeat. đ
This weekendâs wrecking ball? Canada/Mexico tariffs (and a lot of leverage getting unwound).
Last weekend? DeepSeek reveal.
Before that? Trump launching a memecoin before taking office.
Itâs inspired us to start our own weekend dip bingo card.
While the market keeps bouncing back, Bitcoin dominance has been quietly grinding higher, while altcoinsâŠ
Well, theyâre getting absolutely rekt. đȘŠđ”
Why?
3 words: Strategic Bitcoin Reserve.
What started as a campaign idea, has turned into a request for an official proposal for implementing a digital asset stockpile. And just yesterday, Trump ordered the creation of a Sovereign Wealth Fund by year-end.
Translation: Bitcoin is THE asset institutions, governments, and funds want.
And as BTC soaks up all the liquidity, alts are getting rugged by reality.
Yesterday off the back of the news, we hit a 63% Bitcoin dominance, a level we havenât seen since February 2021.
Narratives shift, dips come and go, and macro events keep throwing punches.
But, the #1 rule to remember that weâve preached all along is that Bitcoin is King. đ
Weâre always trying to trade altcoins to stack more Bitcoin.
Speaking of trading, what the $#@*! just happened with our ThorChain trade? đ
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Just days after the last ThorFi-induced nosedive, the ThorChain community served up another round of chaos this past weekend.
This time, some node operators rage-quit.
They shut down their nodes and cashed out their staked RUNE, flooding the market with supply and tanking the price over 50% to just under $1. Absolute carnage. â ïž
Naturally, we bought the dip of the dip because weâre degenerates and this portfolio is about stacking more sats.
And letâs be real, you canât stack more sats just by holding sats (unless youâre earning yield, but even thatâs just 5-10%... weak sauce).
Since the dip, the price has bounced back because the ThorChain team locked in a recovery plan.
The fix?
Issuing a new token (TCY) to all ThorFi lenders. Each token represents $1 of the $200M debt, and pays holders 10% of all ThorChain swap fees - forever.
This move aligns incentives across the board and seems to have restored market confidence. RUNE is already up 50% from the lows, despite the overall market still looking shaky.
We still think RUNE will be reclaiming $3 and up very shortly, where it rightfully belongs.
Assuming, of course, thereâs no more surprise drama.
But you know crypto, always loving a plot twistâŠ
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Disclaimer: The content from Hodl Report should not be taken as trading, investment or financial advice or solicitation to buy or sell any assets. This newsletter is for informational and educational purposes only. Please be careful out there and DYOR (do your own research).