📈 Market Update

A very stable week, but the bleed continues

Even though the announcement of the Bitcoin reserve made headlines, BTC itself didn’t see a significant price movement. This is because the reserve is essentially just a directive to hold onto the existing Bitcoin in the U.S. government’s possession, rather than a mandate to actively purchase more.

Markets typically respond more strongly to events that create new buying pressure—such as institutional accumulation, ETF inflows, or central bank purchases. In contrast, this reserve policy doesn’t introduce fresh demand; it simply prevents an immediate sell-off of existing holdings.

Additionally, traders and investors may have already priced in the expectation that the U.S. government wouldn’t offload its Bitcoin holdings in the near term. Without an actual increase in demand, the impact on BTC’s price remains minimal, with broader macroeconomic factors and liquidity conditions still playing a more significant role in determining its movement.

👀 Projects We’re Keeping an Eye on

Converge — Website | X

The settlement layer for traditional finance & digital dollars powered by Ethena and Securitize.

Pre-token | Very little information out yet, but looks very legit and promising.

Signet — Website | X

Signet is a pragmatic Ethereum rollup with sustainable economic incentives. They took a decade of lessons from Ethereum scaling and built something radically different.

Pre-token

Optimex — Website | X | Docs

Optimex is designed to enable a decentralized finance (DeFi) layer on Bitcoin, natively. In particular, Optimex enables swap, lending & borrowing, and margin trading—all natively on the Bitcoin network.

Pre-token - Although they’re looking for alpha testers which could point to a future airdrop.

📰 What Are the Latest?

Trump signs the strategic bitcoin reserve - This past week, Trump signed into law an amendment that states the US will not sell any of their reserves, but also won’t buy more (for now).

Changes to Bitcoin’s code - This will be the first change in over 4 years. Won’t affect most users as it just changes the way transactions are scripted by the developers.

Standard Chartered cuts 2025 ether price target to $4,000 - ETH price targets keep on falling as the market keeps going down.

Gemini might IPO? - New CFO’s arrival follows Bloomberg reports that Gemini is considering an initial public offering, which could happen sometime this year.

🧃 In Other (degen) News

• Tanssi completed the community sale, raising $1m;

• Maia DAO releases a guide on automated yield strategies

• IVX, perp. exchange on Berachain launches new reward program

• mETH Protocol vault yielding 6.8% is almost full.

🎲 Random Bits

IO.net has been expanding

With the explosive growth of AI, the demand for computing power is at an all-time high. IO offers seamless access to global GPU resources while directly rewarding providers worldwide.

Their goal is to outperform competitors by being faster, more cost-effective, and highly secure, backed by SOC 2 compliance and end-to-end encryption.

Not a buy for us at the moment, but will definitely keep an eye on it and might write a report next week.

🙏 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.

As always we’ll email you if we find something ground-breaking between now and next week.

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

— Bruno