Happy Thursday!

Bitcoin is doing alright at the moment, but that could just be bear market complacency, according to one analyst. He sees a bearish April coming.

XRP and SOL ETF holders are doing a better job than their Bitcoin brethren, one analyst claims. What exactly is he referring to?

Plus, the GPU Technology Conference has become the single most market-moving event in tech, bigger than most earnings calls and Fed announcements. See the playbook now.

TOP STORY

Is Bitcoin Heading To $40,000? Analyst Warns Potential Weakness Into April

Bitcoin may be luring bulls into a trap, analyst Benjamin Cowen warns.

The prominent cycle analyst says BTC is following a textbook bear market structure — local lows followed by weeks of drifting higher, creating false bull signals before a sharper breakdown to a new lower low.

With U.S. midterm election years historically showing market weakness between March and April, Cowen says another leg down toward $40,000 remains on the table.

SPECIAL OFFER

NVIDIA's Annual Conference Starts Monday — The Last 3 Times It Disappointed, The Nasdaq Dropped 4% In A Week

The GPU Technology Conference has become the single most market-moving event in tech, bigger than most earnings calls and Fed announcements. Jensen Huang's keynote sets expectations for the entire AI sector for the next 12 months. In 2022, a guidance miss triggered a 40% drawdown in semiconductor stocks over the following quarter. Knowing which names are most exposed to a miss, and which ones benefit when the hype deflates, could be worth more than any stock tip.

QUICK N DIRTY

Bitcoin, Ethereum, XRP are holding to their levels even as geopolitical turmoil continues to scare traditional markets: here’s what’s moving markets today.

Elon Musk has launched X Money, and it’s getting already a lot of praise. Here’s who is impressed and what people are saying about it.

JP Morgan is facing a lawsuit over allegedly enabling a $328 million Ponzi scheme. What is that all about?

FINTECH FOCUS

XRP, Solana ETF Holders Are 'Diamond Hands,' Bloomberg Analyst Lauds

XRP and Solana ETF holders are outholding even Bitcoin loyalists through a 60%+ drawdown — and Bloomberg's James Seyffart has the data to prove it.

While Bitcoin ETFs shed $9 billion in outflows and Ethereum ETFs reversed 25% of flows after similar crashes, XRP and SOL holders barely flinched.

Seyffart's explanation: no basis traders ever piled in, so what's left is pure long-term conviction.

BEFORE YOU GO

Were you forwarded this email? Click here to subscribe.

And be sure to check out our other newsletters:

Ring The Bell: Created for market enthusiasts by market enthusiasts, this daily newsletter delivers top stories, fast movers and hot trade ideas straight to your inbox. Subscribe here.

Advisor: Tailor-made for Financial Advisors, this weekly newsletter has industry-specific insights, analysis and news. Subscribe here.

Tech Trends: Get the inside scoop on AI, the hottest gadgets and mind-blowing tech trends. Subscribe here.