Portofino Mint - 13 May 2025
Major breakout across the crypto landscape and especially Ethereum ahead of the Pectra upgrade
๐ Welcome to the Portofino Mint!
Last week marked a major breakout across the crypto landscape.
โ
๐ Key Movers (7D change in USD)
โข ๐๐๐ต๐ฒ๐ฟ๐ฒ๐๐บ +๐ฏ๐ต% - ETH rallied to $4,000 in a face-melting move. The squeeze was triggered by a huge options unwind, catching shorts offside ahead of the Pectra upgrade and amid signs that ETH staking demand is heating up again.
โข ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป +๐ด% - BTC surged above $100K
โข Solana +25%
โข Avalanche +17%
โข Toncoin (TON) +20%
โข Dogecoin (DOGE) +30%,
โข Shiba Inu (SHIB) +23%
โ Meme coin momentum and ecosystem activity are back.
โ
๐ Macro + Technicals
๐ ๐ฎ๐ฟ๐ธ๐ฒ๐๐ ๐๐๐ฎ๐ด๐ฒ๐ฑ ๐ฎ ๐ฝ๐ผ๐๐ฒ๐ฟ๐ณ๐๐น ๐ฟ๐ฒ๐ฏ๐ผ๐๐ป๐ฑ ๐น๐ฎ๐๐ ๐๐ฒ๐ฒ๐ธ ๐ฎ๐ ๐ผ๐ฝ๐๐ถ๐บ๐ถ๐๐บ ๐ฎ๐ฟ๐ผ๐๐ป๐ฑ ๐ด๐น๐ผ๐ฏ๐ฎ๐น ๐๐ฟ๐ฎ๐ฑ๐ฒ ๐๐ต๐ฎ๐๐ฒ๐ฑ ๐๐ฒ๐ป๐๐ถ๐ผ๐ป๐ ๐ฎ๐ป๐ฑ ๐ฟ๐ฒ๐ถ๐ด๐ป๐ถ๐๐ฒ๐ฑ ๐ฟ๐ถ๐๐ธ ๐๐ฒ๐ป๐๐ถ๐บ๐ฒ๐ป๐.
โข ETF inflows and improving trade sentiment fueled risk-on appetite
โข U.S. finalizing trade deals, including U.K. aircraft tariff rollbacks
๐ NASDAQ/BTC falling. BTC is leading risk-on sentiment.
๐ DXY cooling. Gold back in range, but scarcity assets are shining.
๐๐ฉ๐ช๐ด ๐ฎ๐ฆ๐ด๐ด๐ข๐จ๐ฆ ๐ช๐ด ๐ง๐ฐ๐ณ ๐ช๐ฏ๐ง๐ฐ๐ณ๐ฎ๐ข๐ต๐ช๐ฐ๐ฏ ๐ฐ๐ฏ๐ญ๐บ. ๐๐ต ๐ช๐ด ๐ฏ๐ฐ๐ต ๐ช๐ฏ๐ท๐ฆ๐ด๐ต๐ฎ๐ฆ๐ฏ๐ต ๐ข๐ฅ๐ท๐ช๐ค๐ฆ, ๐ข๐ฏ ๐ฐ๐ง๐ง๐ฆ๐ณ ๐ฐ๐ง ๐ด๐ฆ๐ณ๐ท๐ช๐ค๐ฆ๐ด, ๐ฐ๐ณ ๐ข ๐ด๐ฐ๐ญ๐ช๐ค๐ช๐ต๐ข๐ต๐ช๐ฐ๐ฏ ๐ต๐ฐ ๐ฆ๐ฏ๐จ๐ข๐จ๐ฆ ๐ช๐ฏ ๐ข๐ฏ๐บ ๐ง๐ช๐ฏ๐ข๐ฏ๐ค๐ช๐ข๐ญ ๐ข๐ค๐ต๐ช๐ท๐ช๐ต๐บ๐๐ญ๐ญ๐ถ๐ด๐ต๐ณ๐ข๐ต๐ช๐ฐ๐ฏ ๐จ๐ฆ๐ฏ๐ฆ๐ณ๐ข๐ต๐ฆ๐ฅ ๐ฃ๐บ ๐๐ฆ๐ฎ๐ช๐ฏ๐ช
Published on 10.07.2025
Written by
Melchior de Villeneuve
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