Incrível a força desse ativo.
Eu mesmo o deixei de lado por muito tempo por ter pouco histórico e contexto.
Já vi vários ativos não se sustentarem depois de 1-2 anos e morrerem na praia.
Ao que me parece, a HYPE vem provando aos incrédulos que veio para ficar. 🏆🏆🏆
ATENÇÃO: $HYPE flipa $SOL e agora você precisa de menos de 1 $HYPE para comprar 1 $SOL.
Sim, menos de 1 HYPE. E assim chega ao fim uma jornada que começou há 16 meses, quando eram necessários 40 $HYPE para adquirir 1 $SOL.
Se você tivesse trocado 1.000 SOL por HYPE há 16 meses atras e hoje resolvesse fazer o caminho de volta, teria aproximadamente 40.000 SOL.
Uma transformação que mostra o quanto a relação entre os dois ativos mudou ao longo desse ciclo.
Às vezes, olhar apenas o preço em dólar não conta toda a história.
Será que vira? Virou.
$BTC: Miner Profitability Buffer Continues to Shrink
BTC now trades near $69K, while the estimated miner Operational Floor Cost sits around $46.4K.
This metric reflects the lower-bound operating cost to produce 1 BTC, mainly electricity and basic mining expenses, excluding full CAPEX and equipment depreciation.
Bitcoin still trades roughly 49% above this operational floor, leaving an estimated ~$22.6K buffer above miners’ lower-bound operating cost.
This is not yet a miner capitulation zone.
However, the premium above the floor has compressed sharply as price continues to weaken.
The key point is not that miners are already under severe stress.
It is that the profitability buffer is shrinking, and the market is moving closer to the cost structure where miner behavior becomes more sensitive if BTC continues lower.
Source: @ForeDex_Global
👀 Whales added +43,300 BTC in 7 days.
LTHs absorbed over 750,000 BTC in 30 days.
Below $70K everyone asks "how low?"
The better question: who's buying?
Full breakdown in this week's report 👇
Remember the April "the bull market has started" calls from the analysts and KOLs?
Price ran, structure faded, and everyone who bought the top is now locked in for a year of losses.
That's the whole story.
📊 Sharpe Ratio (365d) at -1.37σ. Percentile 6th.
94% of all historical Sharpe readings have been higher than this. Current cycle low.
Short-term momentum is still bleeding. Nothing in the structure says the selling is done yet. Price can go lower from here.
But when Sharpe compresses into the bottom 6% of its range, the 12-month forward returns have historically been favorable for buy-and-hold entries. Not because the bottom was in. Because risk-reward had already reset.
The short game looks ugly. The long game is quietly getting attractive 👀