TL;DR

• JP Morgan Dubs Bitcoin and Gold the OG “Devaluation Trade” Heroes

• Chile’s Bitcoin Reserve Dream: Crypto Meets Andes Flair

• BlackRock IBIT: Outflows and Chill (For Two Weeks Straight)

• USDC Treasury Drops a Cool 50M on Ethereum

• Stablecoins Take a Small, Steady Victory Lap

• Swing Trader’s ETH Short: A $3.76M Oopsie

• U.S. Spot Ethereum ETF: A Week of Outflows

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Alpha of the Day

JP Morgan Dubs Bitcoin and Gold the OG “Devaluation Trade” Heroes

Move over meme coins; the big kids are here to stay. According to JP Morgan, Bitcoin and gold have become structural pillars of the "devaluation trade," a fancy way of saying they’re the go-to assets when the dollar has its off days. With global economic shifts and inflation dramas making traditional investments look shaky, these two shiny options (one literal, one digital) are stealing the spotlight. It's like Bitcoin and gold are teaming up for the ultimate asset collab, proving that some classics—whether mined or minted—never go out of style.

Chile’s Bitcoin Reserve Dream: Crypto Meets Andes Flair

Chile’s lawmakers are cooking up a crypto storm, debating a potential strategic Bitcoin reserve. It’s as if they’re saying, “Forget just mining copper; let’s mine confidence in our economy!” The idea is to diversify national reserves with Bitcoin, giving the Chilean peso a futuristic friend. If this passes, it might set a precedent for other nations, turning Bitcoin into the new must-have accessory for central banks. Will this move make Chile the cool kid of Latin America? Only time—and maybe a few sats—will tell.

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BlackRock IBIT: Outflows and Chill (For Two Weeks Straight)

The heavyweight champion of investments, BlackRock IBIT, is feeling a little light lately. For the first time ever, they’ve seen consecutive weeks of net outflows. Is it a market correction, or are the big players just going through a crypto breakup phase? Whatever the reason, it’s a reminder that even giants like BlackRock occasionally stumble in the crypto jungle. But hey, two weeks isn’t forever—this could just be their version of taking a breather before diving back in.

USDC Treasury Drops a Cool 50M on Ethereum

When the USDC Treasury mints 50 million tokens on Ethereum, it’s not just a transaction—it’s a statement. This latest issuance has crypto sleuths speculating: Is it prepping for a demand surge, or is Circle just flexing? Whatever the case, 50 million USDC hitting the blockchain is like a mic drop moment for stablecoins. It’s also a reminder that while some tokens dream of relevance, USDC stays comfortably at the center of crypto’s financial ecosystem.

Stablecoins Take a Small, Steady Victory Lap

The stablecoin market value grew by 0.45% this past week, proving that slow and steady sometimes wins the race—or at least doesn’t lose it. While other assets might ride the rollercoaster, stablecoins are chilling, doing their thing, and quietly gaining ground. It's like they’re the reliable friend in your portfolio—maybe not exciting, but always there to cover the check when the market gets too wild.

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Swing Trader’s ETH Short: A $3.76M Oopsie

Whoops, that didn’t age well! A swing trader who shorted 21,613 ETH now finds themselves staring at a hefty $3.76 million in floating losses. Betting against Ethereum is like challenging a lion to a staring contest—not for the faint of heart. While they might be holding out for a market dip, the clock is ticking, and the crypto community is watching. Moral of the story? The swings can swing back, and sometimes, they hit hard.

U.S. Spot Ethereum ETF: A Week of Outflows

Ethereum ETFs had a rough week, with $38.1 million heading for the exits. What gives? Maybe investors are feeling cautious, or perhaps they’re waiting for the next shiny thing in the crypto market. Either way, it’s a hiccup in what has otherwise been a year of massive attention for Ethereum. But let’s be real: this is crypto, where a single week is practically a lifetime, and anything can change by next Monday.

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