Welcome to the "Everything Season".

That's the title Bitwise CIO Matt Hougan gave the current cycle in a memo to his investors.

Instead of investors taking their positions from $BTC (+3 %) to $ETH (+1,36 %) and from Ethereum to the long tail of altcoins, we see all segments picking up at the same time.

The cause, of course, lies in the Bitcoin ETFs, through which non-crypto capital flows into Bitcoin faster than Bitcoin money can flow out into other crypto assets.

In his opinion, this trade could continue for a while yet.

However, the madness has long since resumed. In the last few days...

• ...Drake shared an interview clip from Michael Saylor about Bitcoin with his 146 million followers on Instagram,
• ...the memecoin $WIF reached its fundraising goal of USD 650,000 (1-week-sphere-promotion incoming) and...
• ...Elon Musk publicly $DOGE (+7,52 %) -payments for Tesla.

The fact that the broad market was sent south yesterday via a series of liquidations and has continued its slide over the past few hours therefore seems like a welcome cooling off.

The cool-down was particularly brief for $SOL (+3,47 %) . After a temporary slump, the fifth-largest cryptocurrency even ended yesterday with a gain of 5.4%.

Over the last 3 days, it has thus gained +20%. In the midst of the ongoing memecoin rally, Solana is crypto's retail hub and will soon be out of the woods with regard to the post-FTX sell-off.

$ETH (+1,36 %) Once again, no one was thankful that the Dencun upgrade went completely smoothly (You can read more about this in today's issue. You can find the link below in the sources section).

Sell the News.

Perhaps this is also due to the fact that a letter from two US senators to SEC Chairman Gary Gensler was published yesterday. In it, they ask him to please not approve any more crypto-ETFs.

Sore losers?

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Blockstories issue: https://blockstories.beehiiv.com/p/24-stunden-dencun-ein-erstes-fazit

Sources:

Memo Matt Hougan: https://tinyurl.com/u67ap33s

Drake and Michael Saylor interview excerpt: https://tinyurl.com/4utfw72a

WIF Fundraising: https://tinyurl.com/4fwwza3h

Elon Musk DOGE Comment: https://tinyurl.com/4cceke73

Letter U.S. Senators: https://tinyurl.com/bddx78vt