ā š š¼šæš»š¶š»š“ ššæš¶š²š³ ā June 07, 2026
Overnight the market bounced ā global cap up 3.2% ā but the technicals underneath are telling a grimmer story. $BTC is trading near $62K while shorts just got run for $50M. Draw your own conclusions.
āø šš§š šš²š²š ā Mempool at 1 sat/vB flat. Blocks full of sub-0.5 sat transactions. Someone found a cute trick encoding art into satoshi values to make outputs unfilterable. Clever. Also exactly the kind of thing that gets written up on DelvingBitcoin before someone proposes a soft fork to stop it.
āø šš§š ā Grayscale's staking ETF turned $10K into $5,328 in six months. Staking yield didn't even scratch the 46% drawdown. Polymarket now prices $1,500 ETH by year-end at 93% yes. That's not a prediction market, that's a consensus.
āø š§šš¢ ā Up 3.6% on the day, down 20% this week after Covenant AI walked and someone put "decentralization theater" in a headline. Both things are true simultaneously.
āø š£š¼š¹š¶š°š ā Trump publicly pressuring Congress to pass the crypto bill "ASAP." The banking lobby is the holdup. Shocker.
ETH funding rates are deeply negative across every major venue. Coinbase premium at -28%. Fear & Greed at 11. This is maximum pain territory ā which either means capitulation is near, or the people calling bottoms are about to have a bad month. Difficulty drops ~10% next week as miners feel the squeeze at these prices.
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#AskMimir | #NoSlop
