Hey Crypto Addicts,

Fewer than 100,000 blocks now remain until the fifth Bitcoin halving at block 1,050,000, putting the next reward cut on track for around April to May 2028. Approximately 694 days from today.

That is when the block reward drops from 3.125 BTC to 1.5625 BTC. New supply gets cut in half…

Here is what makes this halving genuinely different from every previous one.

All four previous halvings occurred before spot Bitcoin ETFs existed at scale. The 2028 event will be the first halving in an ETF-dominated market, where institutional accumulation is not just present but historically massive.

Strategy and BlackRock alone hold over 1.66 million BTC between them. Nearly 8% of the total 21 million supply cap.

The key question heading into 2028: if ETFs continue absorbing coins faster than miners can sell them, the traditional halving supply shock may give way to something far more powerful.

Less new supply. Institutional demand accelerating. Fixed cap of 21 million coins.

694 days. Mark the calendar. ☕

Eighteen months ago Hyperliquid did not exist. Last week it got its first US-listed ETF. This week that ETF pulled in $5 million in days.

21Shares launched the THYP ETF on Nasdaq on May 12, the first US-listed product tied to HYPE, alongside a 2x leveraged version under ticker TXXH.

Bitwise followed days later with BHYP on NYSE, pledging 10% of its management fee toward HYPE token purchases on its balance sheet.

Combined inflows into both products have already topped $5.6 million. Thursday alone saw $8.1 million in THYP trading volume, its strongest day yet.

21Shares research head Eli Ndinga framed Hyperliquid as "beyond a crypto story," pointing to its ability to trade oil, silver and gold markets around the clock and its role pricing the Iran shock 48 hours ahead of traditional venueswhen CME was closed.

The protocol handles roughly $8 billion in daily volume, commands more than 50% of decentralised perpetual futures open interest, and generates over $56 million in monthly fees with 95% directed toward daily HYPE buybacks.

The main risk: CME and ICE are lobbying regulators to scrutinise Hyperliquid over manipulation and sanctions concerns.

HYPE is trading around $47. The institutional on-ramp is now open.☕

Lolli has partnered with commerce media network Kard to launch automatic Bitcoin cashback for its 600,000 users on linked debit and credit cards.

The setup is simple. Link a card once inside the Lolli app. Shop normally at participating merchants. Bitcoin lands in your Lolli wallet in the background. You never change your spending habits.

Kard's network processes first-party transaction data from tens of millions of cardholders, using AI to match personalised offers to spending patterns at scale. Participating merchants already include Dropbox, Hydro Flask and Stanley.

Rewards withdraw via Lightning Network or connect into the broader Thesis Bitcoin stack including Bitrefill integrations.

Thesis co-founder Matt Luongo put it plainly: "Our users link a card once, and bitcoin shows up in their wallet from spending they were already going to do."

The bigger picture: Lolli, DoorDash, Meta and Revolut all moved to embed Bitcoin or stablecoins into everyday spending this month. The integration layer is being built fast.

The hardest part of Bitcoin adoption has always been onboarding. Lolli just made it invisible.

Link once. Stack forever. ☕

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JPMorgan Picked Bitcoin

JPMorgan analysts concluded that Ethereum and the broader altcoin market "may continue to underperform Bitcoin" unless there is "meaningful improvement" in network activity, DeFi adoption and real-world use cases.

The data is hard to argue with…

Since the October 2025 deleveraging, spot Bitcoin ETFs have recovered roughly two-thirds of their outflows. Spot Ethereum ETFs have recovered just one-third. CME futures show institutional BTC exposure nearly fully restored, while ETH futures remain well below prior levels.

The ETH/BTC ratio has dropped to 0.02835, its lowest level since July 2025 and down 35% from its August peak. The ratio peaked above 0.08 in December 2021. It has been falling ever since.

JPMorgan acknowledged upcoming Ethereum upgrades could improve scalability. But the bank's core point is that past upgrades failed to materially boost on-chain activity.

Technical improvements without real demand growth does not move the institutional needle.

Bitcoin is the base layer. Everything else is still proving itself. ☕

The Future of Crypto Banking Is Here

While most people are still juggling wallets, exchanges, and banks… a small group is already moving faster with all-in-one crypto banking.

Veil Bank isn’t just another tool.

It’s a privacy-first omni-bank where you can swap, bridge, borrow, and spend ~ all in one place, without friction.

No delays. No unnecessary steps. No outdated systems holding you back.

The reality? The people who adopt better tools early are the ones who win long term. Everyone else catches up later… at a cost.

Don’t be the one still figuring it out when the edge is already gone.

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Bottom. Then $215K.

Let us talk about the bigger picture for a moment.

The current bear market is not the end of the Bitcoin story. It is a chapter inside a much larger cycle. The projected bottom range sits between $27,000 and $39,000.

That is a wide zone. But both levels carry significant historical confluence, representing deep value accumulation zones where long-term conviction holders have built their most profitable positions.

A move into that range would be painful. It would feel like the end. It always does at cycle lows.

It would not be the end.

Once accumulation at that level is complete and a durable bottom structure is established, the next bull cycle begins.

And the projected cycle top range sits between $180,000 and $215,000.

From a potential $27,000 to $39,000 entry to a $180,000 to $215,000 exit represents a 4x to 8x return for patient accumulators who bought the fear and held through the recovery.

The bottom is not in yet. The accumulation phase is building.

Buy the right level. Hold the right conviction. The top takes care of itself. ☕

Solana’s recent correction has intensified after futures funding rates flipped negative, signaling growing demand for short positions as traders become increasingly bearish on SOL. The sell-off followed a rejection near the $98 resistance level, with price revisiting support around $83 while overall network activity and decentralized exchange volume continue declining.

Trump-backed Truth Social has reportedly withdrawn multiple applications for crypto exchange-traded funds, including proposed Bitcoin and Ethereum ETFs, as asset manager Yorkville America shifts toward a different investment structure under the Investment Company Act of 1940. The company said the move would allow for more innovative.

A viral story circulating across the crypto community revealed how a Bitcoin holder recovered nearly $400,000 worth of BTC after being locked out of a wallet for over 11 years with the help of Anthropic’s Claude AI. The user had reportedly forgotten the password after changing it while in college, leading to years of failed recovery attempts and trillions of password combinations.

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The dev said ‘we’re building long term’… then disappeared short term…