Portofino Mint - 13 May 2025

🚀 Welcome to the Portofino Mint!

Last week marked a major breakout across the crypto landscape.

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🔝 Key Movers (7D change in USD)

• 𝗘𝘁𝗵𝗲𝗿𝗲𝘂𝗺 +𝟯𝟵% - 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.

• 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 +𝟴% - BTC surged above $100K

• Solana +25%

• Avalanche +17%

• Toncoin (TON) +20%

• Dogecoin (DOGE) +30%,

• Shiba Inu (SHIB) +23%

→ Meme coin momentum and ecosystem activity are back.

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📌 Macro + Technicals

𝗠𝗮𝗿𝗸𝗲𝘁𝘀 𝘀𝘁𝗮𝗴𝗲𝗱 𝗮 𝗽𝗼𝘄𝗲𝗿𝗳𝘂𝗹 𝗿𝗲𝗯𝗼𝘂𝗻𝗱 𝗹𝗮𝘀𝘁 𝘄𝗲𝗲𝗸 𝗮𝘀 𝗼𝗽𝘁𝗶𝗺𝗶𝘀𝗺 𝗮𝗿𝗼𝘂𝗻𝗱 𝗴𝗹𝗼𝗯𝗮𝗹 𝘁𝗿𝗮𝗱𝗲 𝘁𝗵𝗮𝘄𝗲𝗱 𝘁𝗲𝗻𝘀𝗶𝗼𝗻𝘀 𝗮𝗻𝗱 𝗿𝗲𝗶𝗴𝗻𝗶𝘁𝗲𝗱 𝗿𝗶𝘀𝗸 𝘀𝗲𝗻𝘁𝗶𝗺𝗲𝗻𝘁.

• ETF inflows and improving trade sentiment fueled risk-on appetite

• U.S. finalizing trade deals, including U.K. aircraft tariff rollbacks

• Bitcoin leverage is rising, and the futures premium (calendar basis) nearly doubled over the week—a strong bullish signal• Ethereum’s underperformance flipped, ETHBTC ratio spiked

📉 NASDAQ/BTC falling. BTC is leading risk-on sentiment.

📈 DXY cooling. Gold back in range, but scarcity assets are shining.

𝘛𝘩𝘪𝘴 𝘮𝘦𝘴𝘴𝘢𝘨𝘦 𝘪𝘴 𝘧𝘰𝘳 𝘪𝘯𝘧𝘰𝘳𝘮𝘢𝘵𝘪𝘰𝘯 𝘰𝘯𝘭𝘺. 𝘐𝘵 𝘪𝘴 𝘯𝘰𝘵 𝘪𝘯𝘷𝘦𝘴𝘵𝘮𝘦𝘯𝘵 𝘢𝘥𝘷𝘪𝘤𝘦, 𝘢𝘯 𝘰𝘧𝘧𝘦𝘳 𝘰𝘧 𝘴𝘦𝘳𝘷𝘪𝘤𝘦𝘴, 𝘰𝘳 𝘢 𝘴𝘰𝘭𝘪𝘤𝘪𝘵𝘢𝘵𝘪𝘰𝘯 𝘵𝘰 𝘦𝘯𝘨𝘢𝘨𝘦 𝘪𝘯 𝘢𝘯𝘺 𝘧𝘪𝘯𝘢𝘯𝘤𝘪𝘢𝘭 𝘢𝘤𝘵𝘪𝘷𝘪𝘵𝘺𝘐𝘭𝘭𝘶𝘴𝘵𝘳𝘢𝘵𝘪𝘰𝘯 𝘨𝘦𝘯𝘦𝘳𝘢𝘵𝘦𝘥 𝘣𝘺 𝘎𝘦𝘮𝘪𝘯𝘪