🚀 Bitcoin is Still Pushing!

Happy Monday dear subscribers! In today’s Newsletter, Bitcoin is still pushing!

In today's bulletin, we are covering:

• Surfing the Market, with analysis about Bitcoin and the AI index

• Don't miss the News about Apple AI, and Bitcoin’s ETF

• Pendle is under the spotlight.

• A short article about BTC and ETFs: which one is better for retirement?

• Our selection of the best Gems on X

Bitcoin continues consolidating despite the hit on most of the altcoins. For third consecutive week it continues ranging on the upper band. Still missing some volume but we do have to consider the ETF inflows too which are not reflected here. In my opinion there is still zero reasons to be worried about this chart:

The AI Index also holding nicely through the storm. Despite the rejection on the main resistance keeps defending the range:

Apple's Foray into AI: Introducing "Apple Intelligence"

Apple is poised to introduce its AI platform, "Apple Intelligence," at the Worldwide Developers Conference.

The platform aims to integrate AI services across its products, using both onboard chips and cloud services.

• Apple will unveil "Apple Intelligence" at WWDC, integrating AI into its products and services.

• The approach involves using onboard chips for some AI tasks and cloud services for others.

• Privacy will be a focus, with onboard chips handling tasks like predictive text to ensure consumer privacy.

• Siri will receive upgrades, including the ability to perform detailed, personalized tasks.

• Despite anticipation, the response to "Apple Intelligence" has been negative so far, as critics argue Apple has lagged in the AI sector compared to competitors like Microsoft and Google.

U.S. Bitcoin ETFs Surge with Massive Inflows in Early June

In the first week of June, U.S. Bitcoin ETFs acquired $1.83 billion worth of Bitcoin, equivalent to two months of the cryptocurrency's mining supply. This significant inflow has made a notable impact on the market.

• U.S. Bitcoin ETFs bought 25,729 Bitcoin between June 3 and 7, vastly exceeding the 3,150 new BTC mined in the same period.

• The amount acquired in this week was almost as much as the entire of May and marked the largest week of buying since mid-March.

• Since their January launch, the 11 ETFs have seen $15.69 billion in net inflows.

• Bitcoin ETF AUM is now around 60% that of U.S. gold ETFs, despite being in existence for only five months compared to gold ETFs' 20 years.

• Bitcoin reached a high of $71,093 on June 5, the highest since May 21.

• Bitcoin's price is influenced by macroeconomic factors and geopolitical events, which has affected its ability to surpass its current high.

PENDLE

Under the spotlight this week we have PENDLE Finance, a yield tokenization protocol.

The project can be framed in the liquid DeFi (LSD) and real-world assets (RWA) narratives.

Through its platform, users can lock in the future yield of their crypto assets and receive profits in advance. Pendle achieves this functionality through smart contract technology, allowing users to participate in the market in a decentralized and secure manner.

A key component of the protocol is the ERC-5115 standard , known as single token standard (SYT) that offers:

• Improved Interoperability between different protocols in DeFi.

• Flexibility for being general enough to support a wide range of use cases.

• Efficiency and UX Improvement by allowing deposit and withdrawal in any assets.

PENDLE uses “on-chain Strip”, a method to divide a financial asset (ybtokens) into a single token standard (SYT) with a fixed expiration date, which is divided into:

• A primary token (PT) - For ownership

• a performance token (YT) - For yields

SYstETH = PTstETH + YTstETH  

SYT, PT and YT can be freely exchanged before the expiration date. Pendle AMM guarantees that this relationship is valid at all times.

With that configuration PENDLE finance allows speculation and hedging on future yields as  users can claim Future Yield Tokens (FYT) yield prematurely. This approach focuses on liquidity over composability.

The $PENDLE token is the native utility token of the Pendle protocol. It has a Total Supply of 258,446,028 tokens with 60% in circulation. The current Market cap is $825.5 Million.

Pendle finance raised over $17 Million in various funding rounds.

If you want to learn more about the project, this is the official twitter and website.

Have agreat week!

BTC or ETFs: which one is better for retirement?

In these fast-paced times that demand immediate results, thinking about the long term may sound boring, but it is necessary if we want to have capital available when it comes time to retire.

Not long ago, the answer to where we should invest for our retirement consisted mainly of S&P 500, stocks and bonds. With the advent of Bitcoin, this has changed, and many people are opting to diversify their retirement investment by including cryptocurrencies.

The approval of spot BTC ETFs (and now ETH as well) has helped this strategy gain more relevance. Through these instruments, people who are entirely unfamiliar with the crypto ecosystem can invest for their retirement in a more easy way.

In this context, BTC emerges as an interesting alternative due to its constant appreciation, fixed supply, increasing adoption, and so on.

The truth is, many of their concerns lie in the learning curve associated with exchanges, hot and cold wallets, seeds and the risks of losing everything due to a transaction error or forgotten password, rather than in the asset itself, even with its volatility!

This is where we can draw the line between pure BTC and an ETF.

It all depends on the investor’s profile regarding their level of adoption and education about blockchain. This is crucial as it is the most important filter for deciding which instrument to invest in. Let's see.

A crypto investor who understands blockchain technology, advocates for it, uses it, and is part of the ecosystem will undoubtedly prefer to have their retirement savings directly in BTC in a cold wallet (you’ve heard it… not your keys, not your coins) as they know the processes for buying, withdrawing, storing, and recovering a lost password if necessary. 

However, new market participants who still have reservations about adopting blockchain as users but trust in the asset's appreciation have the option to invest in ETFs through their trusted financial institution, thereby mitigating all those risks they are unwilling to take.

Another issue to keep in mind is about taxes. With an ETF, taxes are paid in the same way as with stocks. However, by buying the cryptocurrency directly, we can choose to avoid KYC requirements and not pay taxes, at least for now, in many countries without regulation in this regard.

So, which is better? There isn't a clear answer since, as we said, it depends on the investor's profile. What we can assure is that ETFs have opened the door for BTC to be part of many retirement funds, incorporating it into their portfolios and avoiding the need to buy and store the asset directly.

One or the other, the important thing is that BTC has emerged as a long-term investment instrument, not just for speculators but also for those planning for their retirement.

RWA Overview

What’s Bitcoin up to?

ETH Diamond Hands

Don’t sleep on this market, lots of opportunities to come, see you next week!