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A bull market is a phase where prices tend to move significantly far away from the total production cost level.
After the Halving 2024, the price is still hovering around the total production cost level and has not showed a trend of moving far away from the total production cost , as seen in previous bull markets.
Following the pattern/fundamental of Bitcoin mining industry, Bitcoin still has not entered bullmarket yet in this cycle at price 0,1M$ or $100k
Donald Trump just lit a match under North American trade. He slapped a 25% tariff on everything coming in from Canada and Mexico. Another 10% on Chinese imports. The reason? He says it's about stopping illegal immigration, drug trafficking, and protecting American jobs 💸
The move sent shockwaves through the markets. Business leaders panicked. Canadian Prime Minister Justin Trudeau didn’t waste time. He hit back. Canada is now placing its own 25% tariff on $107 billion worth of U.S. goods. Trudeau called it a firm but measured response.
😡 Trump wasn’t having it. He made himself crystal clear: If Canada dares to retaliate, he will double the tariffs. That means 50% tariffs on Canadian imports. He’s not bluffing. This is an economic standoff.
What’s happening is a full-blown trade war. It starts with tariffs, taxes on imported goods, making them more expensive. The goal? Punish the other country’s economy. But in reality, businesses and consumers on both sides suffer. Prices go up. Supply chains get wrecked 😨
Now, the U.S. and Canada, two of the biggest trade partners in the world, are on the verge of an economic fistfight. The longer this drags on, the worse it gets.
History doesn't repeat itself but it often rhymes. We may get a bullish altcoin season very soon 📈
If you look at the capitalization ratio of Bitcoin to the rest of the market, you will see that once in a cycle, the dominance of BTC drops sharply while the rest of the market outperforms 🔍
It is worth taking a closer look at strong altcoins that have performed well during the recent market turmoil.
Senator Bob Menendez was sentenced to 11 years in prison after a shocking corruption scandal. Investigators discovered gold bars and cash bribes hidden in his home 💰
Ironically, he was a vocal crypto critic, warning about money laundering and terrorism. He slammed Bitcoin for fueling crime and opposed El Salvador’s adoption 🤡
Behind the scenes, he was secretly pocketing bribes in envelopes and stashing gold bars. Prosecutors found nearly half a million dollars and over $100,000 in gold.
In the end, the senator who decried crypto criminals was undone by old-fashioned corruption. It’s not about the currency, but the integrity of those who use it 🧠
Crypto tokens are increasingly judged by protocol revenues as investors adopt equity-style valuation for blockchain projects. Many compare a token’s market cap to its ARR (annual recurring revenue) to gauge potential value 🧮
🔍 A popular measure is the Price-to-Sales ratio (P/S). It’s calculated by dividing a project’s market cap by its annual revenue. A lower ratio hints that a token might be undervalued.
Market Cap ÷ Annual Revenue
Below are a few protocols with notable 30-day revenue but low market cap 👇
🔵Hyperliquid (HYPE) – $51.59 million 🔵Aerodrome (AERO) – $28.08 million 🔵Raydium (RAY) – $22.37 million
You can use DeFiLlama fees dashboard to view real-time protocol revenue data across different DeFi platforms 📊