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GM. Some crypto stories hide behind thick skins, but we’ve already done the peeling. Check out the news that’s ripe today: 🍍 Luke Gromen thinks $40K BTC isn’t out of the question; 🏦 JPMorgan’s new investment fund on Ethereum; 🍋 Ethereum Prysm bug slows network, React wallet-drainer exploit found + more |
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🍍 Market flavor today |
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The market feels like that moment right after a big laugh dies down and everyone looks around to see who’s about to say something.
Bitcoin’s still trading in the $80K-$90K range (pretty ok), but it’s also ~30% off the ~$126K peak it reached in early October (… not pretty ok).
This combo does something to people’s confidence. And Luke Gromen showed up to say the quiet part out loud.
Gromen’s a macro analyst who’s spent years saying some version of: governments print = currencies weaken = hard assets win.
Bitcoin has always been in that bucket for him, as a macro hedge.
But recently, instead of talking about Bitcoin as an obvious beneficiary right now, Gromen talked about vulnerability.
He thinks BTC could slide into the $40K range by 2026.
From $80K+, that’s a 50% drop, which is kind of on-brand for Bitcoin… but still chilling when said out loud.
His logic:
If Bitcoin is supposed to be the cleanest debasement trade, why is gold doing the job better rn?
Gold’s been ripping to new highs this year while BTC’s been chopping sideways and struggling to assert itself above key technical levels.
That relative underperformance matters in macro. Capital doesn’t care about your thesis – it cares about execution.
And lately, Bitcoin’s been telling a less convincing story than the shiny rock.
(I know. Annoying.)
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He also touched on something that’s been resurfacing in market conversations: quantum computing risk.
Most cryptography experts continue to frame this as a long-dated, theoretical issue, not an imminent threat.
But markets don’t require immediacy for a narrative to have impact.
The presence of an additional uncertainty – even a distant one – can influence behavior at the margin.
Sometimes it doesn’t trigger selling, but it does reduce enthusiasm.
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Now, some Bitcoin analysts don’t agree with Gromen.
They argue that:
👉 Lagging gold for a few months doesn’t invalidate the long-term thesis;
👉 Technicals aren’t destiny;
👉 And quantum risk is being overstated.
All fair points.
Put together, the picture isn’t bearish or bullish. It’s transitional.
Bitcoin remains high-priced, widely held, and structurally intact.
At the same time, the market is testing how much conviction actually exists at these levels without a fresh catalyst.
That tension explains the current feel: calm on the surface, cautious underneath.
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🥝 Memecoin harvest |
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Sir, these coins are pumping harder than your uncle at weddings 🕺 |
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Data as of 11:10 AM EST. |
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Check out these memecoins and plenty more here. |
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JPMorgan launched a new investment fund. On its own, that’s about as exciting as hearing a bank opened another checking account 😴 This fund does a very basic job: it holds cash safely and pays a small amount of interest. Big companies and large investors use products like this when they want their money to make them some more money while staying boring. “Don’t lose it and give me a little yield” vibes. So far, totally normal. What makes this fund worth talking about, though, is how JPMorgan decided to run it. 👉 Normally, when someone invests in a fund like this, everything is tracked inside the bank’s own systems. 👉 But with this new fund, JPMorgan added a different way to keep track of ownership – they issue tokens on Ethereum that represent ownership.
Now, why would JPMorgan do this at all? Because at the institutional scale, one of the hardest problems isn’t money – it’s keeping everyone’s records in sync. When ownership is tracked across multiple systems, every change requires checks, reconciliation, and waiting. Using a blockchain gives JPMorgan: 👉 One shared record of ownership; 👉 Automatic updates; 👉 Fewer moving parts behind the scenes. … And why should you care? Well, a few reasons: 🧱 Ethereum is being used as financial infrastructure; 🏦 This is institutional validation without the hype; 🔗 Tokenization is moving from theory to practice; 🌐 This is how blockchains win long-term. And the main takeaway is this: Crypto doesn’t need to overthrow finance to win. Sometimes, winning looks like being so useful that the biggest institutions in the world start using it. And this change matters. |
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