đ The Crypto Reversal Has Started!
Bitcoin is on the path to recovery after historic oversold conditions.
Hey Thinkers đĄ
Weâre finally seeing signs of recovery as Bitcoin is moving higher once again.
As highlighted in last weekâs newsletter, the market was experiencing a rare combination of:
Historic oversold conditions
Extreme fear sentiment
Mainstream panic
We even had Jim Cramer screaming from the mountaintops that Michael Saylorâs Strategy had âkilled Bitcoinâ after selling 32 BTC.
Those types of headlines often appear near important market turning points.
And now weâre seeing the market respond.
đ Bitcoin Technicals Improving
The Bitcoin daily chart is showing encouraging signs:
RSI Moving Higher
The Relative Strength Index (RSI) is moving away from the oversold zone, signaling that selling pressure is easing and buyers are stepping back in.
MACD Flips Bullish
The MACD has completed a bullish cross and momentum is beginning to shift back toward the bulls.
This doesnât guarantee a sustained uptrend, but itâs exactly what we want to see after such an extreme washout.
đ˘ Weekly Chart Starting to Recover
The recent rally is also helping save the weekly timeframe.
The bulls momentum is hanging on by a thread. If Bitcoin can continue moving higher from here, it will help preserve bullish momentum and prevent a deeper breakdown on higher timeframes.
A very positive sign is we are seeing early signs of a bullish divergence forming on the weekly chart RSI.
The next several weeks will be critical.
đ MVRV Signals Improvement
Another encouraging development is Bitcoinâs MVRV data.
The 30-day trader cohort is moving back toward the neutral zone, suggesting that the market is beginning to stabilize after a period of significant unrealized losses.
Historically, these transitions often occur near major turning points.
â ď¸ This Is Still a Relief Rally
As Iâve stated in previous newsletters:
This is not a move to new all-time highs.
At least not yet.
Weâre still operating within a broader bear market framework, and itâs entirely possible that Bitcoin moves lower once this relief rally completes.
However...
Itâs also possible that the bear market bottom is already in.
Even Brian Armstrong, CEO of Coinbase, recently suggested that the bottom may be behind us.
He isnât guaranteeing itâbut he has stated that heâs bullish.
đ§ My Approach
The worst of the bear market appears to be behind us.
Personally, Iâm accumulating.
No one can consistently call the exact bottom.
But what we can do is identify the bottom zoneâa period where:
Prices are heavily discounted
Sentiment is overwhelmingly negative
Fear dominates the conversation
Long-term opportunities emerge
Thatâs exactly the environment weâre in today.
When thereâs blood in the streets, opportunities tend to appear.
đĽ Major Crypto News
đ SpaceX Goes Public With Massive Bitcoin Treasury
SpaceX officially went public on Nasdaq on June 12.
The IPO introduced what may be the largest Bitcoin position ever attached to a public offering.
According to its S-1 filing:
Holdings: 18,712 BTC
Purchase cost: approximately $661 million
Value as of March 31: approximately $1.29 billion
SpaceX described Bitcoin as a strategic reserve asset for excess cash.
This is another major validation of Bitcoin as a corporate treasury asset.
đŚ BlackRock Launches Bitcoin Income ETF
BlackRock is preparing to launch the iShares Bitcoin Premium Income ETF (BITA).
The fund aims to provide:
Bitcoin exposure
Income generation through options strategies
A yield-focused alternative for traditional investors
Bloomberg ETF analyst Eric Balchunas expects trading to begin around June 18.
This could attract an entirely new class of investors seeking income from Bitcoin exposure.
đ¤ Mastercard Launches Agent Pay for Machines
Mastercard unveiled Agent Pay for Machines, a platform enabling AI agents and smart devices to execute transactions autonomously.
Initial blockchain and crypto partners include:
Aave
Coinbase
OKX
Polygon
Ripple
Solana
The initiative opens the door for machine-to-machine commerce powered by blockchain infrastructure.
𧊠Final Thoughts
The market is finally showing signs of life.
RSI is recovering
MACD has turned bullish
Fear is beginning to subside
On-chain metrics are improving
Most importantly, weâre seeing the exact type of conditions that historically emerge near major bottoms.
That doesnât mean volatility is over.
It doesnât mean we canât see another pullback.
But it does mean that the risk-reward profile continues to improve for long-term investors.
Stay patient. Stay disciplined.
The opportunities are often greatest when most people have already given up.
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đCrypto Market Metrics
Here are some key data points from Santiment
Top 10 Coins Trending via Social Media
Top Gainers in Social Dominance
Top Losers in Social Dominance
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đş Recent Interviews
Grant Cardone, Founder and CEO of Cardone Capital, joined us to discuss his firm pairing Bitcoin with real estate investments, offering investors unique exposure to both asset classes.
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-Tony