Macro Takes Over, Bitcoin Takes a Breather — Week in Review

Read all of the biggest stories of the week.͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ 

Macro takes over, Bitcoin takes a breather Bitcoin traded up early in the week before fading to finish roughly 3.5 % lower than last Friday. Bitcoin and equities stalled this week, as the focus moved decidedly towards macro factors—by macro I mean geopolitics and macroeconomics—at play. In order of importance, let's briefly go through what's happening outside of the crypto bubble. On Sunday, June 1, 2025 the world stepped closer to Nuclear conflict as Ukraine's SBU launched Operation Spiderweb: 117 small drones destroyed or damaged approximately 41 nuclear-capable long-range bombers. Kremlin spokesman Dmitry Peskov vowed retaliation "at a time of our choosing," while renewed missile salvos hit Kyiv and Kharkiv. Suffice it to say, peace talk momentum has stalled. One disturbing aspect of this is how many Western media outlets are framing this attack with potential nuclear retaliatory consequences as daring and audacious, Risky and reckless seems more appropriate. Aside from increasing the risk of nuclear escalation, this attack will surely affect international shipping as governments wrestle with the new threat vector of shipping containers full of drones. Also on Sunday, June 1, 2025, the U.S.-China tariff truce frayed as Washington claimed that Beijing had "totally violated" May's 90-day tariff-rollback deal, which Beijing flatly rejected. Over the course of the week, the détente swung from finger-pointing and recriminations, to a tentative reboot on Thursday. The U.S.-China situation continues to stress supply chains. Container freight from Shanghai to LA shot up 57% this week. On Wednesday, a coalition of U.S. automakers and suppliers urged the White House to counter China's rare-earth export curbs. They warned of imminent parts shortages. Sponsored by Betpanda  Betpanda.io – Proud sponsor of AFA & UFC's Johnny Walker. Play sportsbook, 7000+ slots & live casino with total privacy. Get 10% wager-free cashback weekly. No hassle or slow withdrawals – just pure crypto action with 20+ cryptocurrencies. Win Big – Stay Anonymous. Play Now Finally, there was the public falling out of Donald Trump and Elon Musk, an unraveling that was written in the stars! The feud took place on the pair's favorite medium of communication, social media. One silver lining to two of the most powerful Americans clashing online is that Bitcoin is benefiting from Elon's barbs, with some believing Musk is on the path to becoming a Bitcoin maxi! Aside from the silver lining, this all might sound bearish for Bitcoin and risk assets, because at the very least it reveals how uncertain the times we are living in are. However, as stated at the beginning, Bitcoin is down a paltry 3.5%. There are specific reasons to be bullish Bitcoin, which I have written about and spoken about on Token Narratives ad nauseum. There are also macro reasons to be bullish too. I agree with Ram Ahluwalia, CEO and Founder of Lumida who summarized it best on the always excellent podcast Bits + Bips: "I think these geopolitical risks are nothing burgers… Just zoom out. What drives asset prices, especially stock prices, is earnings growth. We just saw 12% year-over-year earnings growth. Interest rates. I think [they've] topped out. There's a scare that's behind us now. Third is inflation. Well, we got disinflation. Core PCE came in just fine. And then we've seen peak fear around tariffs. That's receding." A strange week indeed. Bitcoin took a breather while macro blustered, but I expect to see a rested Bitcoin back in the spotlight soon. -David Sencil News Ripple Presents XRP, RLUSD to Replace SWIFT's Outdated Payment System XRP is powering Ripple's bold challenge to SWIFT's outdated payment system, delivering blazing-fast, low-cost… read more.   Editor's comment: Ripple's strategy in the stablecoin race is positioning its blockchain-based payment solution, powered by XRP and the stablecoin RLUSD as a replacement for the outdated SWIFT system.   Warning: Europe Might Irrevocably Make Bitcoin Illegal Paymium's Alexandre Stachtchenko explained that if the current version of the EDPB's guidelines on… read more.   Editor's comment: Sometimes it feels like the EU is hellbent on making sure it won't be a leader in crypto, just like it wasn't for the internet, and how it probably won't be a leader in A.I. RIP EU.   Elon Musk Backs Coinbase Warning: Bitcoin Could Replace Dollar Amid US Fiscal Crisis Bitcoin is surging into the spotlight as Coinbase's CEO and Elon Musk sound alarms on U.S. debt, signaling the… read more.   Editor's comment: Elon's exasperation this week with the profligate U.S. government is making many Bitcoiners happy.   Ethereum and Solana Staking ETFs Move Closer to US Listing Rex Shares has filed an effective prospectus with the U.S. Securities and Exchange Commission (SEC) for its… read more.   Editor's comment: Bloomberg ETF analyst James Seyffart is confident that normal ETFs featuring staking are on the way, but this abnormal vehicle might launch first despite SEC's misgivings.   Circle's NYSE Breakout Turns Heads—and Heats up Crypto Finance Stablecoin issuer Circle Internet Financial saw its stock take off on its first day of trading, leaping from an initial price… read more.   Editor's comment: Circle's explosive NYSE debut—surging over 150% on day one—signals massive investor enthusiasm for stablecoins, but I"m not sanguine that Circle will be able to fend off all the upstart stablecoins vying to take some of its market share. Read more news @2025  Saint Bitts, LLC 858 Zenway Blvd, P.O. Box 1830, Frigate Bay, Saint Kitts and Nevis  This email was sent to To unsubscribe or modify your subscriptions, please click here. Have feedback for us? Send it here.