Plus: Bank of America’s stablecoin? Possible

GM. We're baack! 😏 Did you miss us? 'Cause we missed you!!

I know, the markets are looking like a smashed watermelon - but we’ve scooped up the good chunks and left the mess behind.

🏦 Bank of America might launch a stablecoin.

🍋 News drops: Pump(.)fun hack, Justin Sun and the SEC's lawsuit update + more

🍍 Market flavor today

Find out more about the Fear & Greed Index here.

Crypto Market Cap: $2.86T -1.89% (24H)
Name		Price	24H	7D
	Bitcoin BTC	$85,660.71	-2.70%	-11.97%
	Ethereum ETH	$2,328.90	-4.80%	-14.80%
	XRP XRP	$2.20	-3.50%	-18.29%
	BNB BNB	$606.65	-2.07%	-6.59%
	Solana SOL	$138.59	-0.74%	-20.10%

I just got back from vacation, feeling confident that y'all wouldn't let the markets go bonkers while I was gone... Clearly, I was SO wrong - cuz wtf is this??

Investors are freaking out right now (the Fear & Greed Index hit lows we haven't seen since TerraUSD fell apart), pretty much everything's lookin' red, and Bitcoin ETFs keep seeing outflows (nearly $3B since last Tuesday).

This downturn started when Donald Trump confirmed his 25% tariffs on Canada and Mexico are moving ahead as planned.

And as if that wasn’t enough, yesterday he looked at the EU and said, "Y'all want some of this, too?" - BOOYAKA, another 25% tariff coming their way.

Source: @boldleonidas

Soo... how low are we talkin'? CryptoQuant’s Head of Research, Julio Moreno, says it's too early to tell 'cause the market's still in correction mode.

He came to this conclusion by looking at something called the MVRV ratio (Market Value to Realized Value) and the 365-day moving average.

Source: @jjcmoreno

In normal-people English: the MVRV ratio compares how much all Bitcoins are currently worth (aka market value) with what people actually paid for them (aka realized value).

Meanwhile, the 365-day moving average shows whether Bitcoin's price is in a healthy range or if the market's struggling, based on price trends from the past year.

• When MVRV is above the 365-day MA → people’s Bitcoin is worth more than they paid = confidence, profits, and potentially an overheated market;

• When MVRV is below the 365-day MA → people’s Bitcoin is barely worth what they paid (or less) = uncertainty, weak market, potential for more dips.

Right now, MVRV is still below that line, which could mean we prolly haven’t hit the bottom yet.

Markus Thielen from 10x Research thinks worst case, Bitcoin might dip to $72K-$74K before bouncing back.

Source: @naiivememe

But before you call McDonald’s to ask if they have any job openings, market analyst Scott Melker says there’s a bullish divergence forming.

Translation: Bitcoin’s price is still dropping, but an important indicator - the Relative Strength Index (RSI) - is going up instead.

What's the RSI? Think of it like a vibe check for Bitcoin:

• If it's too high: Bitcoin is overbought, might be due for a cooldown.

• If it's too low: Bitcoin is oversold, maybe dumped too hard, too fast.

Right now, RSI is in the oversold zone but is starting to go up, which could be a sign that the worst of the selling is over.

Source: @TheCryptoLark

🥝 Memecoin harvest

These tokens ran like a cat escaping bath time 🐈

	Name		24H Change
	360noscope420blazeit MLG		▲ 48%
	STONKS STONKS		▲ 37%
	Alchemist AI ALCH		▲ 36%
	MyShell Token SHELL		▲ 33%

Data as of 06:15 AM EST.

Check out these memecoins and plenty more here.

🥳 Keep 'em coming

If you've been keeping up with my adventures this past week, you know - I’ve been through mountains, oceans, deserts, and whatever happened in between (I guess we'll never know).

I reached peak zen, and what we’re NOT gonna do is ruin that with this bad market energy.

So, here’s something actually positive:

Bank of America (BofA) might launch its own stablecoin. The CEO, Brian Moynihan, just said they’d do it if the US passes solid crypto regulations.

Quick reminder: it's the second-largest bank in the US and the sixth-largest one in the world. And they're talking STABLECOINS.

But they do want the legal stuff to get sorted out first. For that, Congress is considering a few bills:

• Clarity for Payment Stablecoins Act → sets clear rules for stablecoins used for payments but still keeps things innovation-friendly;

• Lummis-Gillibrand Payment Stablecoin Act → says stablecoins must be fully backed and allows both banks & non-banks to issue them - but under strict regulations;

• GENIUS Act → focuses on keeping US stablecoins competitive while making sure they follow proper regulations;

• STABLE Act (the strictest one) → says every stablecoin issuer should be treated like a bank - meaning they’d need a full banking license and have to follow strict banking regulations.

So yeah, if Congress actually gets it together and BofA drops a stablecoin, you know what that means:

More stablecoins = more liquidity = more on-chain activity.

And lemme repeat - this is coming from the SECOND-LARGEST bank in the US and the SIXTH-LARGEST bank in the world.

If that doesn’t scream "crypto is getting real," idk what does.

🍋 News drops

⏸ Justin Sun and the SEC are hitting pause on their legal battle. They’ve asked for 60 days to see if they can just talk things out.

💊 Pump.fun's X account got hacked to promote a fake PUMP governance token. Good news: the account’s back. Bad news: some poor souls probably fell for it.

✈️ Gotbit’s founder, Aleksei Andriunin, has been extradited to the US on charges of market manipulation and wire fraud conspiracy. He allegedly used wash trading software to fake trading volumes and help tokens get listed on exchanges.

🛑 Looks like Congress is coming for memecoins - specifically ones like Trump’s Official TRUMP token. House Democrats are cooking up the MEME Act to stop public officials from cashing in on crypto.

😮‍💨 Gemini got the SEC off its back. The SEC officially closed its investigation into the exchange and won’t be taking any action. At least for now.

🧃 Sip of gains

Discover BTSE's AutoTrader with the latest BitDegree Mission, "Streamline Futures Trading With BTSE's AutoTrader":

Source: @BitDegree

Psst... complete this Mission → earn more Bits → get a bigger chunk of the BitDegree Season 7 $30K Airdrop.

Easy, amirite?

Deadline's April 30, 2025 - so don't just wait around, 'cause you don't want someone else to walk away with your prize! 👀

🍌 Juicy memes

Source: @TheCryptoLark

Source: @AltcoinGordon

Source: @naiivememe