This summary covers key insights and predictions from Guy Turner and Nick of Coin Bureau in their latest YouTube stream, including Bitcoin's recent performance, technical signals, ETF flows, price outlook, and notable altcoin developments. The summary is broken down into clear sections for easy reading.
TLDR
-
Bitcoin hit a new all-time high near $111,000 amid falling stocks and rising ETF flows
-
A daily golden cross formed, signaling bullish momentum
-
ETF inflows surged to $2.7B last week, the highest since launch
-
Altcoins like Hyperliquid saw strong performance while Sui was hit by a $220M DEX exploit
-
TrumpCoin controversy raised concerns about crypto’s politicization
-
Predictions for Bitcoin's 2024 peak range between $150K and $250K
Bitcoin's Breakout and Key Technical Signals
-
Bitcoin set a new all-time high around $110K, even as stocks, bonds, and the dollar declined
-
The breakout was supported by:
Key Highlights:-
Record high weekly and daily closes
-
Formation of a golden cross (50-day moving average crossing above the 200-day)
-
ETF inflows totaling $2.7 billion in one week
-
-
Market conditions appear less euphoric compared to previous ATHs, with lower funding rates and volatility
-
MicroStrategy’s Michael Saylor added more BTC, bringing holdings to over 580,000 BTC
ETF Flows and Market Sentiment
-
Bitcoin ETFs saw consistent daily inflows last week, suggesting growing institutional interest
-
Weekly trading volume hit $25 billion, the highest since ETFs launched
-
Google Trends and YouTube data show muted retail enthusiasm compared to previous cycles
-
This suggests the market is not yet overheated and may have more room to grow
Bitcoin Price Predictions
-
Nick predicts BTC could peak at $150K in 2024
-
Guy offers a slightly higher estimate of $172K
-
Arthur Hayes expects $250K by year-end and $1M by 2028
-
Other forecasts:
Key Highlights:-
Tim Draper: $250K (longstanding)
-
Bernstein: $200K in 2025
-
Standard Chartered: Raised target from $120K to $200K
-
VanEck: $180K by end of 2025
-
Altcoin Highlights: The Good, the Bad, and the Ugly
Hyperliquid (HYPE):
-
Surpassed Sui in market cap, now aiming for a “Solana-like” run
-
Potential 240% upside by July based on breakout structure
-
$9B in open interest, surpassing several centralized exchanges
-
Benefited from privacy concerns post-Coinbase data breach
Sui Ecosystem:
-
Sui’s major DEX Satsus was exploited for $220M using spoofed tokens
-
$160M in assets were frozen and may be returned
-
The hack raised concerns about centralization after validators blocked hacker transactions
TrumpCoin Controversy:
-
Trump hosted a dinner for top holders, drawing criticism from media and protestors
-
Critics say linking crypto with partisan politics could hurt its broader adoption
-
Top holders included figures like Justin Sun and Wintermute’s Evenny
On-Chain & Trading Insights
-
Arkham Intelligence spotted large ETH transfers from Kraken to new wallets
-
MVRV-Z Score suggests BTC remains undervalued compared to previous market tops
-
No CME gaps were opened, allowing BTC price rally to continue smoothly
Coins & Events to Watch
-
Bitcoin (BTC): Main coin to watch this week due to potential continuation above ATH
-
Nvidia earnings (May 28): May impact AI tokens like Worldcoin
-
FOMC minutes (May 28) and PCE inflation data (May 30): Will influence Fed rate expectations
Summary Verdict:
Coin Bureau’s Guy and Nick deliver a detailed, data-backed outlook showing strong upside potential for Bitcoin while noting altcoin volatility and the risks of political entanglement. Market sentiment remains bullish but measured, with major technical indicators and ETF flows supporting continued price growth.
