🌟 Editor's Note

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In crypto, you have to deal with dumps that feel like you’ve wasted your money, pumps that feel like they’ll go up forever, and all the emotions that come along the way.

I can’t always get to your comments and emails promptly. Would you like me to create a Telegram or Discord group for the Crypto is Easy community so we can commiserate and react when these swings happen?

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If I don’t get 500 responses, I’ll have to assume there’s not enough interest. Your vote matters—let’s get those numbers up!

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🚀 Chart of the Week

Our recent pump came from modest short squeezes over the past few weeks, each marked as a bar on this chart.

Each squeeze aligns with a pump in Bitcoin’s price.

You might think the pumps come from a rush of new buyers or a round of new enthusiasm, but they’re mostly from traders getting zapped.

👀 What’s up with the Danger Zone?

The Danger Zone keeps going lower.

Does this mean the market’s getting less dangerous as prices fall?

Yes. As prices go lower, the market gets less dangerous. You get more potential upside with less potential risk.

The real danger is buying too much at the wrong times. Danger Zone is a crude, fast, simple way to tell when there’s no juice left to squeeze. Closer to the zone = less juice to squeeze.

🦄 GameStop joins the party

Bottom line: GameStop will close 1,000 stores and buy Bitcoin.

My take: It sounds like GameStop gave up on its retail business. In its SEC filing, it says it will close more stores this year and next. At the same time, it will raise $1.3 billion for its treasury. Some—potentially all—of that money will go into Bitcoin.

That’s not enough to change the trajectory of the crypto market, nor does it say anything about “institutional buyers” as a whole. I wonder how Strategy฿ will feel if GME takes its market share? They compete for the same investors with the same product (exposure to Bitcoin through equities).

Why we care: We know to ignore GameStop hype.

🔥 How much stuff will bitcoin buy?

People sometimes ask me whether Bitcoin can ever reach $1 million.

I always give the same answer:

“Yes, but how much will $1 million be worth when it does?”

Factor this into your investment strategy and every decision you make with your crypto portfolio.

With the same effort you put into crypto, you can turn your cash into a profitable business, side gig, or income stream. How do you know that won’t make you more money than buying crypto?

Then, you can buy crypto with that cash and not have to stress about every price swing or ROI.

We’re trained to think about price. Why not think about purchasing power?

A recent Blockworks article does just that.

It highlights how Bitcoin’s purchasing power might not change much even if it reaches astronomical prices.

Maybe Bitcoin’s purpose isn’t to make you rich, but rather, to give you an escape from a financial system that constantly tries to make your wealth, labor, and income less valuable?

The Case for Token Buybacks

Many of the best protocols feature token buybacks.

As they generate revenue and collect fees, these protocols automatically purchase tokens and either destroy them or lock them in a community treasury subject to future governance proposals.

Most exchange tokens take this approach. So do Hyperliquid (HYPE), Raydium (RAY), Jupiter (JUP), Aave (AAVE), and others.

In a recent article, Arca argues this is the best approach.

While this approach does not yet seem to impact a token’s performance or returns, it may be the only thing that matters. Token buybacks benefit stakeholders directly and reduce supply, enhancing long-term value.

Unlike stock buybacks, which are often speculative and subject to corporate whims, token buybacks follow predictable rules and schedules.

Once crypto gets past its speculative phase, we’ll see how strong the argument is.

For now, save this thought for the bear market. Buyback tokens may not get the hype they deserve, but once money gets tight, they may prove more sticky than whatever’s getting hyped right now.

Let’s connect! 

You can schedule a call with me. Use Tealfeed to book your time.

Relax and enjoy the ride!

— Mark