📈 Market update

This short-term rally is a bull trap

Bitcoin experienced a brief rally recently, with prices nudging higher. However, our market sentiment remains bearish. This modest uptick appears to be driven largely by a tweet from former President Trump rather than by any fundamental improvements in market conditions.

While the rally briefly lifted BTC’s price, it does not seem to be sustainable. The catalyst behind the price movement was external and fleeting, and the underlying technical indicators tell a different story. BTC continues to trade below the 120-day Simple Moving Average (120SMA), a key resistance level that many traders monitor for signs of trend reversal.

In summary, despite the temporary spike, the technical landscape remains bearish. Investors should remain cautious as the short-term rally is unlikely to alter the prevailing downtrend.

Fortunately you can still make money on these market downtrends. We’ll post more about this in the future with tutorials and guides on how to short effectively and more importantly when to short.

👀 Projects we’re keeping an eye on

Parallel Sanctuary — Website | X

“Sanctuary is a 3rd person extraction shooter set in the @Parallel universe // Built on @b3dotfun, powered by @EchelonFND Prime.”

Inception Labs — Website | X

“Pioneering a new generation of LLMs.”

Sesame — Website | X

“We believe in a future where computers are lifelike. They will see, hear, and collaborate with us the way we’re used to. A natural human voice is key to unlocking this future.”

📰 What are the latest?

Insider Move? - A trader opened $200M in 50x leveraged long positions on $ETH and $BTC just hours before the Crypto Reserve announcement.

New Leadership at Ethereum Foundation - Structural changes bring fresh faces to the top.

SEC Targets Kraken - A new lawsuit emerges as speculation mounts over an impending Ripple case.

Cardano up 78% after Trump’s Tweet - but what now?

🧃 In other news

• Core DAO (BTCFi) - Gaming on core is getting massive adoption

• Yeet (Berachain) - Announces the next Yeet Game details

• Ramen Finance (Launchpad) - HENLO presale is now open

• Nillion (L1) - Announces mainnet launch for March

• OogaBooga (DEX) - Reached $500m volume

$DESK airdrop

If you’re looking for what could be the next big airdrop, you should checkout DESK. A new trading perp on BASE.

They are airdropping 40% of supply!

🙏 Thank you for reading

That's all we have for this week, but rest assured, we will return next Tuesday with more updates and insights.

However, if there are significant developments or major market updates that arise before then, we will make sure to keep you informed and aware of the latest happenings.

In the meantime, stay positive and stay in the market!

— Bruno