BNB dominance?

These days, I don’t know whether it is BNB or Bitcoin that is dominating the market anymore, because how do you explain that it’s Binance that is being sued by the SEC but the entire market is going down with BNB, Uhmm, this is not the market correlation we asked for, anon?

June hasn’t even breathed but the SEC is already all over Binances’ neck, anyone looking for quick cash will go long on BNB and make some money, yeah, that’s how it works, FUD dump today, PAMP tomorrow, Binance playbook 101, okay, thanks for coming to my Ted talk 👏

June in Crypto

Speaking of June, Happy new month to you and yours, in crypto June is the month that cleans the mess made in May, June is the get-ready-for-summer-run month, there will be spikes along the way. It usually gives a glimpse into how wild or subtle the summer run will be. If there will be a summer run.

Will there be a summer bull run? According to history, there’s always a summer run, but things haven’t exactly been going according to history in crypto, a lot of people are saying no new money is coming in, yet the traditional economy keeps crumbling.

SEC and FUD 🤝

Plus, regulatory measures have been heating up lately, the SEC slapped many alts as Security in the Binance lawsuit, including Sand(TheSandboxGame), Mana (decentraland), Axs (AxieInfinity) and others like SOL, BUSD, ADA, MATIC. They claimed Binance was offering stake to earn options on its platform.

If they’re doing this to Binance, how long until they crack down on Coinbase and other smaller exchanges too, what if one of them cracks to pressure? One thing is clear these regulators are not stopping and they don’t mind throwing their incompetent hands in the air.

Already the entire market is feeling the heat, BTC made a new month low at $25599, BNB at $276 and $Hive at $0.318 although in a rational bull market, a new monthly low should give a new monthly high but things have gone way beyond being rational

Summer Run?

And if history will tell us anything, it’s that this market is still immature to be FUDED at every twist and turn, so there’ll be a lot of psychological tests down the line, purely driven by FUD then there’s also Balajis $1m bitcoin bet deadline closing in, by the end of June we will know if Balaji will lose $1m.

So will summer run? It’s too early to say, but one thing that will make the market do anything parabolic is if the dollar actually hyperinflates as the rumors say or something dramatic of sort happens. This month will be the real battle between the fears of the hyperinflation of the dollar against the narrative of Bitcoin as an hedge against inflation. Let’s watch and see.

In the meantime buy the dip and stock up your house. Have a great month