GM. This is the Never Die Newsletter, where I share whatever crypto news and content I feel like, every week, short and sweet, right to your beautiful little inbox.
This week we have:
🎙️Hot Off the Mic: Crypto Is Bleeding…. But Here Is What It Actually Means
📰News: Senate Committee Narrowly Passes Crypto Bill
🌟Narrative of the week: Why Gold Is Winning (For Now)
NEWS📰
🏛️ Senate Committee Narrowly Passes Crypto Bill
The Senate Agriculture Committee just voted 12-11 to advance a major set of crypto rules, but the decision was split entirely by political party. Democrats voted no, while Republicans pushed it through. To actually become law, this bill must now be merged with a separate version from the Senate Banking Committee.
⏸️ Fed Holds Rates
The US Fed decided to keep interest rates unchanged, pausing its recent streak of cuts. However, the US dollar has fallen to a four year low, which is potentially good news for Bitcoin, as crypto prices often rise when the dollar gets weaker, even if the Fed isn't officially lowering rates right now.
🏗️ DePIN Might not be Dead
Despite token prices crashing over 90% from their highs, the DePIN sector is quietly booming with real customers. A new Messari report values the market at $10 billion, noting that top projects like Helium are generating massive revenue growth (up 8x) even while their token prices fall.
📈 Ethereum Staking Grows
The line to stake ETH is now so long that new stakers could face a 63 day wait, with over 3.6 million ETH stuck in the queue. At the same time, the amount of ETH available on exchanges has dropped sharply, as major players like BitMine continue to buy and stake.
🎮 Sony Bets Another $13M on Soneium
Sony has invested an extra $13 million into its partner Startale to support their shared blockchain, Soneium. Just one year after launching, the network is already huge, handling over 500 million transactions and 5.4 million users. Startale also released a new stablecoin to make payments easier within Sony's digital world.
Crypto Is Bleeding…. But Here Is What It Actually Means
In this week’s video, I zoom out and explain why this selloff isn’t as bearish as it looks, and why moments like this usually create opportunity. No bottom calls, just context on liquidity, positioning, sentiment, and where we actually are in the cycle.
Narrative of the Week: Why Gold Is Winning (For Now)
Bitcoin is currently dropping while Gold pushes new highs, creating a decoupling that has many concerned. A mix of structural fears and cyclical habits is driving this current downward price action. Here’s what you need to know:
The Quantum Fear: A growing narrative around quantum computing breakthroughs is weighing on bitcoin sentiment, with investors fearing potential threats to legacy bitcoin wallets.
The 4 Year Cycle Believers: Adherence to the traditional 4 Year Cycle suggests 2026 should be a bear market year and many participants are positioning themselves in line with this belief.
Sovereign Flows: Nation states are aggressively diversifying away from the Dollar, but they are prioritizing the Gold and other precious metals over Bitcoin for their reserves.
Structural Headwinds: The stalling of the Clarity Act and regulatory progress continues to stifle and hinder growth.
Bitcoin Hash Rates: This has been on a steady decline due to reduced miner activity as they close down operations and sell BTC to cover costs.
Despite the current underperformance, the macro setup for 2026 remains fundamentally bullish for crypto. The bear market thesis ignores the upcoming US Midterms, where republican survival depends on creating a wealth effect through stimulus and soft money policies. We are already seeing signs of a weaker Dollar and a high probability of an increasing business cycle, signalling an economic expansion that historically fuels risk assets.
SOME TWEETS
MEME OF THE WEEK
TEMPERATURE CHECK📒
How Would You Rate This Week’s Email
