Hey there.
This is The Chain, where we watch the market try to find its footing and wonder if this is the start of a rally or just another "dead cat bounce" before the next drop. 😅
The sentiment is shifting, but let's be real: the BTC chart is still an eyesore. We just watched the "digital gold" narrative take a punch to the gut when Bitcoin tanked to $63K during the Iran strikes, only to see it tease us with a pop to $74K after Trump went to bat for the Clarity Act.
Here are this week's stories:
🚀 Bitcoin Goes Back and Forth with Itself (Broke $70K Though!)
🏦 Kraken Secures Historic Federal Banking Charter
🇯🇵 Japan’s Prime Minister Denounces Fake Memecoin
If you're feeling skeptical, you’re in good company. While the news is turning green, the price tag on the Orange Coin is still struggling to convince the world the worst is over.
Let’s take a look.
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🧡 Bitcoin Fights to Make it Out of $71K Prison
Bad news: last weekend, when the US struck Iran, Bitcoin didn’t behave like “digital gold”. Instead, it tanked to $63K.
Good news: after President Trump went up to bat for crypto on the Clarity Act, Bitcoin surged to $74K.
Bad news again: even though BTC is above $70K, this might just be a relief rally, not an actual new bull cycle. So it doesn’t exactly look like a clear “win” yet.
Still, we’d be lying if we said it wasn’t exciting to see the orange coin break $74K again, if only for a moment.
Are you watching for more signals or buying here? Let us know!
🦑 Kraken Gets Access to the Fed’s Payments System
Wait, more good news? Shocking, we know, but it’s very much legitimate:
Crypto exchange Kraken has been approved for a limited Federal Reserve account.
Translation: Kraken is making big moves and getting treated like the big traditional finance banks. Can you hear that? The TradFi institutions are shaking in their boots!
Ok, maybe they aren’t shaking in their boots, but we at least bet they don’t like this. After all, a win for crypto-based financial solutions is typically a loss for the old banks.
A lot of people are speculating that this might set a precedent for Fed-Crypto relations. It may be the first of many similar moves for other crypto companies moving forward!
🇯🇵 Someone Named a Memecoin after Japan’s Prime Minister ($27.7M!)
Yes, this is another politically related memecoin story, but NO, Prime Minister Sanae did not launch this memecoin.
Someone did though, and it rose all the way to a $27.7M market cap.
SANAE Token (source: Gmgn)
Prime Minister Sanae denounced the coin in a post on X, which read (translated): “…Due to the name, it seems there are various misunderstandings, but regarding this token, I have absolutely no knowledge of it, nor has my office been informed about what this token entails. We have not given any approval whatsoever in this matter.”
🍟 Extra Crispy Crypto Links
Russian lawyers are apparently struggling with proving who owns what in terms of crypto and divorces.
Canadian police are warning the public about a crypto scam that’s using their own logo.
Ark’s Cathie Woods is loading up on Coinbase stock in the midst of the conflict between the US and Iran.
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🎤 Let us know what you thought
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⏳ Wrapping Up
We’re happy to see the positive news, but we aren't popping the champagne yet. Bitcoin’s refusal to consistently break through $70k–$71k is questionable. It’s the kind of price action that makes you squint at your screen and whisper, "Is that it?"
Yes, infrastructure is getting built and Kraken is playing ball with the Fed. But we're still keeping our expectations grounded. 😉
Same time next week? Sounds good.
Until next time,
- The Chain Team
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