On The Pulse - Edition #007
Welcome to On The Pulse, with Maui.

Hey everyone, welcome back to this week's edition of 'On The Pulse.' Thanks as ever to all who have subscribed and are reading this via email. If you're currently browsing, please consider subscribing! If you find today's newsletter valuable, please recommend it to a friend and feel free to suggest topics or ask questions on my Twitter @jordymaui.

This week, we will be taking a look at the lessons behind Bitcoin Halving, examining all the latest big headlines for the space, and analyzing some charts as most coins start heading towards new highs… Let's dig in!

Lesson of the Week: "Bitcoin Halving"

The Bitcoin halving, is an essential event in Bitcoin's lifecycle that occurs approximately every four years. During this event, the reward for mining new Bitcoin blocks is halved, leading to a reduction in the rate at which new Bitcoin is created. This scarcity mechanism is built into Bitcoin's protocol and is designed to control inflation and ensure a predictable issuance schedule. It’s also why Bitcoin is a deflationary asset, unlike the dollar - that can be printed!

💡 Understanding the Halving: 
The halving has significant implications for Bitcoin's supply dynamics, scarcity, and ultimately its price. It underscores Bitcoin's deflationary nature, with its issuance slowing over time until the maximum supply of 21 million Bitcoin is reached. This aspect makes Bitcoin a hedge against inflation and a store of value similar to digital gold.

📉 Impact on Market Dynamics: 
Historically, the halving has preceded significant price rallies in Bitcoin. The reduction in new supply coupled with increasing demand from investors and institutions has led to supply shocks, driving up the price of Bitcoin.

🚀 Market Sentiment and Expectations: 
Leading up to the halving, there is often heightened anticipation and speculation in the crypto industry. Traders and investors closely monitor market sentiment and historical trends to gauge potential price movements around the event. The halving is seen as a bullish catalyst, driving optimism and excitement within the Bitcoin ecosystem and many other altcoins too.

💰 Investment Considerations: 
For investors, understanding the implications of the halving is essential for making informed decisions about Bitcoin as an asset class. It shows the importance of long-term hodling strategies and patience in navigating Bitcoin's market cycles. Additionally, it emphasises the need for risk management and portfolio diversification so you can catch the full rewards of bull markets.

🔍 Future Outlook: 
As Bitcoin continues to gain mainstream acceptance and adoption, the halving will remain a pivotal event shaping its trajectory. With each halving, Bitcoin's scarcity increases, reinforcing its value proposition as a hedge against traditional financial systems' uncertainties. Understanding the halving and its implications is crucial for anyone looking to participate in the evolving landscape of digital finance. Make sure to continue reading more on the history of previous halving events to understand more!

Major Headlines: "The Weekly Roundup"

This weeks major headlines go over the recent lawsuits, airdrops and conferences across Crypto and NFTs, let’s take a look!

💼 Kraken aim to dismiss SEC Lawsuit: 

Kraken, a prominent cryptocurrency exchange, has filed a motion to dismiss a lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC). The lawsuit alleges that Kraken violated securities laws by offering unregistered security tokens. Kraken's motion to dismiss seeks to challenge the legal basis of the SEC's claims and highlights the exchange's commitment to regulatory compliance. Dive deeper into Kraken's legal battle with the SEC and the potential implications for the cryptocurrency industry in this insightful article.

🎁 Optimism's Airdrop for Creators:

Optimism, a layer 2 scaling solution for Ethereum, is launching an airdrop aimed at supporting content creators. This airdrop intends to incentivize creators to try out Optimism's platform by providing them with tokens. By participating, creators can explore new opportunities in the NFT space and potentially earn rewards for their contributions. Learn more about the airdrop and its implications for creators in this article.

💸 $9.2 Billion staked in Portal Coin: 

The record-breaking amount of $9.2 billion is staked on Binance for the hyped upcoming release of the $Portal token. With 50 million rewards in $Portal being distributed for staking BNB in the liquidity pool and a pre-market pricing of the token worth $10, this is by far the largest staking unlock to happen, and it’s 100% worthwhile studying the results of the unlock tomorrow.

🥖 NFT Paris majorly successful for all: 

After being there myself, it’s certainly leveled up since last year and saw some of the best side events/brand exposure of recent years for NFT/crypto conferences. From the conference conversations and booths to the brilliant satellite side events that bring communities and individuals together, the weekend was excellent and is now highly regarded around conferences.

Maui’s Weekly Analysis of Charts

Dive into the pulse of the crypto market with me for a quick overview. If there are elements you don’t understand here, don’t worry – feel free to ask me questions on Twitter. Interested in a specific chart analysis? Let me know! I’ll also be holding weekly polls based on your suggestions. Anyway, here are this week’s charts:

₿ BTC (Bitcoin):

• Recent Price Action: Over the last 7 Days, $BTC has been non stop, climbing another 20% from last weeks $52,000 to todays $61,000.
  

• Weekly Forecast: With BTC ETF inflows still flying in, the previous all time high of $69,000 approaches. Combined with the upcoming halving, is this the moment we see pure inflow and very little slowing down?
  
  For me, i’m enjoying the ride but staying optimistic. If theres one thing the last cycle taught me - it can go a lot higher than you expect before pulling back and cooling off. Momentum and inflow like this is brand new to Bitcoin and it would be silly to try counter trade. Take small profits on the way to the top but ultimately… strap in.

♦ ETH (Ethereum):

We loved Ethereum at $3,000 last week and guess what? We love it at $3,300 this week. Another 15% weekly gain for ETH as we target even higher.

• Weekly Forecast: Aiming for $3,500-$4,000 is the obvious target for continuation with speculation for ETH ETFs increasing, it’s highly unlikely to be priced in - especially when compared to how BTC is moving post ETF.

We continue to break through resistance levels on most and heres a look at BTC dominance to decipher where we think key levels for alt rallies are:

Right now, BTC dominance is climbing and doesn’t look like it’s slowing down. Currently at 53% and likely heading towards 60% (unless we see a significant pull back or flush) and is definitely leading the market. We will keep a close eye on this in coming weeks and I will continue to chart any suggested coins.

For the sake of it, here are coins i’m looking at & adding to my portfolio that I will chart again in the future:

/ AVAX / SOLANA / LINK / TIA / INJ / SUI / SEI / MAVIA / and more!

If you have any specific charts you’d like me to take a punt at next week, please do tweet me suggestions, i’ll happily poll ideas too.

📰 The Summary: From Crypto Trends to NFT Buzz

Each week, we will end the newsletter with a really brief TLDR (Too Long, Didn’t Read) assessment of what’s been going on this week across Crypto and NFTs. I hope this section provides additional value for those who read!

Crypto:

• 📈 Market Trends: BTC hits $61,000 and ETH hits $3,400.

• 🎁 OP Airdrops to creators: OP just dropped 22,000 creators 10million tokens for minting or creating NFTs on ETH.

• 💸 $9.2 Billion in Portal staked on Binance: A record breaking event as $9.2 billion is staked on Binance for the hugely hyped Portal coin.

• 💼 Kraken move to dismiss SEC lawsuit: Kraken are really determined to dismiss the SEC lawsuit and move forward.

• 🪙 MicroStrategy acquires another 3,000 BTC: Saylor is NOT slowing down and is continuing to accumulate his Bitcoins!

NFTs:

• 👨‍💼 Garga Returns as CEO for Yuga: After a wide range of critiscm on Yugas recent movements, founder, Garga has stepped up as CEO.

• 🍕 PizzaNinja to be auctioned at Sotherbys: BTC Ordinals are making moves once again with an auction at Sotherbys.

• 📈 NodeMonkes reach new ATH: Moving past 0.4BTC, the ordinals have flown to a new all time high.

• 🤝 Punk9059 joins Memeland team: During the Pudgy x Memeland NFT Paris event, it was announced Punk9059 will join the team.

• 💰 Punks floor nears $200,000 again: Alongside many other NFT rallies, CryptoPunks is approaching a $200k floor once again.

And with that, we’re wrapped up for another week. If you have any suggestions for lesson of the week, please let me know! If you enjoyed this weeks newsletter, please feel free to support by following me on twitter @jordymaui

Until next time!