Happy Thursday!

ARK Invest reviewed Bitcoin’s performance over Q1 and came to the conclusion that it’s not looking great, but it could be worse.

JPMorgan is going viral at the moment, but maybe not for the right reasons: here’s the raunchy story that has prediction markets speculating on a lawsuit.

Plus, airlines shutting down. Energy names dropping. Cruise stocks catching a bid. Benzinga’s Whisper Index doesn't chase headlines — it flagged MicroStrategy before a 335% run and Coinbase before a 253% run. See This Week's 5 Whisper Stock Picks

TOP STORY

Cathie Wood's ARK Invest Has Good News And Bad News For Bitcoin

Bitcoin fell 22% in Q1 — and ARK Invest says the bottom still isn't in.

The firm's key downside floor sits between the realized price of $54,177 and investor price of $49,759, and true cyclical bottoms historically see futures basis flip into backwardation.

That hasn't happened yet. Perpetual funding rates collapsed from 7.1% to 1.8% through the quarter, leverage got flushed, but the deeper capitulation ARK is watching for hasn't arrived.

The internal structure tells a different story though: "conviction buyers" increased holdings 69% during the drawdown — from 2.13 million BTC to 3.60 million BTC — while U.S. spot ETF balances held steady between 1.26-1.31 million BTC despite the selloff.

The macro setup is turning constructive too…

SPECIAL OFFER

While The Market Reacts To Headlines, These 5 Stocks Are Already Moving

Airlines shutting down. Energy names dropping. Cruise stocks catching a bid. The Whisper Index doesn't chase headlines — it flagged MicroStrategy before a 335% run and Coinbase before a 253% run. This week's 5 new picks are already on the list before the crowd figures out where the money is going.

QUICK N DIRTY

Bitcoin, Ethereum, XRP are stalling on their rally as the momentum from the short squeeze fades: here’s what else is driving markets today.

Cardano co-founder Charles Hoskinson clapped back at his critics: “attacking Cardano is so 2022.”

Peter Schiff does not expect Michael Saylor to sell Bitcoin: Saylor would rather crash STRC, according to Schiff.

FINTECH FOCUS

JPMorgan Reportedly Offered Chirayu Rana $1 Million To Bury Viral Lawsuit, But What Do Prediction Markets Say?

JPMorgan Chase offered former senior vice president Chirayu Rana $1 million to settle sexual assault and harassment claims before his lawsuit went viral — Rana rejected it and countered at $11.75 million.

The suit, refiled Monday in New York state court, alleges that executive director Lorna Hajdini repeatedly sexually assaulted him and directed racial slurs at him tied to his Nepalese background. JPMorgan and Hajdini both deny the allegations.

The refiled complaint added two witness affidavits, a PTSD diagnosis, and an allegation that Hajdini proposed a threesome.

Credibility questions are mounting fast…

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