Bitcoin’s “healthy dip” – how low could it really go

Plus: Meta vs. competitors – is freedom of speech just for show?

GM. Sip on this: a freshly squeezed take on crypto, stirred and served with zero pulp fiction.

🇨🇦 BlackRock is launching its BTC ETF in Canada.

🧳 Tether is moving to El Salvador.

🍋 News drops: Meta is allegedly blocking links to competitors, Sony’s blockchain is live + more

🍍 Market flavor today

Markets are like toddlers: one minute they’re napping and being cute, the next they’re coughing in your face and wiping boogers onto your couch.

The Fear & Greed Index remains in Greed, even after Bitcoin took a quick dive near $90K yesterday.

Some analysts see a drop to $70K ahead, and Tom Lee from Fundstrat Capital thinks it could even touch $50K (which he calls normal for a hyper-volatile asset) before bouncing back.

BitVault co-founder Francesco Madonna agrees we might see $70K or even $65K but thinks $50K is off the table. Why? He pointed out that we’re in a bull market, where big crashes like that just don’t happen unless there’s an extreme event, like a black swan.

Either way, Lee says dips like this could be the perfect opportunity for investors to get BTC at a discount – and it looks like some institutions are already putting that idea into action. Italy’s largest bank, Intesa Sanpaolo, bought 11 BTC for about $1M, making them the first Italian bank to invest directly in crypto.

And what’s next? All eyez on the CPI (Consumer Price Index) inflation data dropping tomorrow. It’s an indicator showing how prices for everyday stuff are changing over time and impacting the Fed’s decisions on interest rates. Here’s the chain reaction:

• High inflation? Central banks might increase rates to slow things down.

• Higher rates? Traditional investments, like bonds, look more attractive than riskier stuff like Bitcoin.

Heads-up: when CPI data drops, markets usually get extra bumpy. But Lee advises taking a chill pill – don’t stress over short-term ups and downs and look at the bigger picture.

So, do we call this a tantrum or just… another Tuesday? Either way, I’m ready to give it a time-out.

🥝 Memecoin harvest

Some memecoins are out here writing comeback stories bigger than Hollywood 🍿

	Name		24H Change
	Moby AI MOBY		▲ 52K%
	momo MOMO		▲ 31K%
	Mack the Meowing Cat MACK		▲ 7K%
	Xiaohongshu Cat Paofu PAOFU		▲ 4K%

Data as of 06:20 AM EST.

Check out these memecoins and plenty more here.

Remember COVID-19? How it took the world by storm? Well, don’t panic, but another virus is spreading…

It’s the Bitcoin bug, baby 🤪 And Canadians, beware – it’s coming for you.

BlackRock is launching its superstar Bitcoin ETF on Cboe Canada.

This means Canadian investors will soon get easy access to the iShares Bitcoin Trust (IBIT), which flexes $37B in net inflows since launching in January 2024.

So, it’s already slaying, and now they’re bringing it to a market that isn’t new to crypto – Canada was the first country to launch a physically settled Bitcoin ETF back in 2021 (basically, like, yeah, ahem, BULLISH).

And this isn’t just a W for BlackRock and Canada – it’s a W for all of us:

• Bitcoin’s legitimacy = increased ✅

• Institutional money = flowing in ✅

• Global crypto ecosystem = stronger ✅

Oh, btw, I forgot to mention: the side effects of that bug may include FOMO. Be ready.

Remember how we talked about El Salvador becoming the crypto hotspot?

Well, we’ve got updates. And they’re proving that point.

Tether, the issuer of USDT, is moving to El Salvador after getting a license to operate as a digital asset service provider and stablecoin issuer.

In their announcement, Tether hyped up the country’s pro-crypto policies and a population that knows its way around Bitcoin.

TL;DR: El Salvador isn’t just joining the crypto fiesta – they’re helping throw it 😎

🍋 News drops

⛔️ Meta is reportedly blocking links to Pixelfield, a decentralized rival to Instagram. The irony? Just days ago, they were pledging their commitment to freedom of speech. Right right right right….

📫 US Senator Elizabeth Warren sent an open letter to Donald Trump’s Treasury pick, Scott Bessent. Her message was clear: if he steps into the role, she wants stricter crypto rules.

🤖 The Biden administration’s push to restrict AI chip exports isn’t sitting well with the tech community – critics warn it could push countries toward China instead of the US.

⚖️ The US Court of Appeals for the Third Circuit said the SEC’s refusal to consider Coinbase’s request for clearer rules was unfair. While the court sided with Coinbase on that point, it didn’t force the SEC to clarify the rules.

🚀 Sony’s Soneium Mainnet is live. It’s a Layer-2 network built on Ethereum, made to power gaming, finance, and entertainment apps all in one platform.

🧃 Sip of knowledge

Learn about Re, a blockchain-powered reinsurance company, with the latest BitDegree Mission, “Decentralized Reinsurance With Re”:

Btw, your BitDegree grind just got 10x spicier – Season 7 airdrop is LIVE! 🚀

How does it work? I’m glad you asked:

• Earn Bits by completing Missions and inviting your friends;

• More Bits = bigger slice of the $30,000 prize pool.

Simple? Simple. No time to waste – every Bit counts, and let’s be real, you’re not letting some rando beat you to the top of the leaderboard (… are you? 🤨)

Go get it, champ! 🏆

🍌 Juicy memes