midyear

Dear Crypto Investor,
Please review the following mid-year progress report for your investment portfolio.
Your child — Crypto Portfolio — has had a challenging semester. We want to be transparent about both the areas of concern and the significant areas of growth that are easy to overlook when you're only looking at the grade sheet.
SUBJECT: Price Performance Current Grade: D+
We won't sugarcoat this. Price performance this semester has been below expectations.
Bitcoin is down approximately 50% from its October 2025 all-time high. Ethereum has fallen from $2,412 to approximately $1,665. The Fear & Greed Index reached a low of 10 this week — the most fearful reading of the entire cycle.
However, we note that Bitcoin has now returned to its 200-week Simple Moving Average — a technical level that has historically marked major cycle bottoms. In 2015, 2018, and 2022 — every time this level was tested — it was followed by a new all-time high. We are reporting this fact, not making a promise.
SUBJECT: Structural Development Current Grade: A+
This is where your portfolio has made remarkable progress that the grade sheet alone doesn't capture.
This semester, Crypto Portfolio achieved the following structural milestones — all of which are permanent:
CME Group now trades crypto futures 24/7 across ten assets. The weekend gap era — nine years of Friday closures — ended permanently on May 29.
The CFTC approved the first regulated Bitcoin perpetual futures in US history.
The CLARITY Act cleared the Senate Banking Committee 15-9 with bipartisan support — and is now 24 days from its July 4 target signing date.
Saylor recently posted on social media that it was "a good time to add more dots," heavily implying that Strategy is preparing to resume its accumulation strategy. Spoted Crypto
Bitmine made its largest ETH purchase of 2026 — 126,971 ETH worth $214 million — during the lowest prices of the year.
Circle launched cirBTC on Ethereum, bringing Bitcoin's wealth into Ethereum's DeFi ecosystem.
Brickken CEO Edwin Mata declared that Wall Street will run entirely on blockchain by 2030. cryptorank
Bybit democratized IPO access, allowing retail investors to buy at official IPO prices for the first time in history.
SUBJECT: Institutional Confidence Current Grade: B+
A Coinbase executive reports that large investors are still accumulating despite the market correction — institutional conviction remains strong. coingape
Despite the challenging price environment — large institutional investors are not exiting. Strategy resumed Bitcoin purchases. Bitmine is building the world's largest ETH treasury at current prices. 85% of all Bitcoin has remained unmoved in cold storage through the entire correction.
The Coinbase executive's observation is important: the sophisticated money is not running. It is accumulating.
SUBJECT: Regulatory Progress Current Grade: A-
The CLARITY Act cleared committee. The CFTC approved perpetual futures. Bitnomial listed TRX as a regulated US spot asset. Fannie Mae accepts crypto as mortgage collateral. Charles Schwab provides 35 million brokerage accounts with crypto access.
The only deduction from a full A is that the CLARITY Act has not yet passed the full Senate. That vote is the primary task for June.
SUBJECT: Technical Analysis Current Grade: C (Improving)
Bitcoin stabilizes at $60,000 — technical indicators hinting at seller exhaustion. coingape
The RSI is at historically oversold levels. The 200-week SMA has been reached. Seller exhaustion signals are appearing. The Bitcoin ETF 13-day outflow streak ended. The Ethereum ETF 17-day outflow streak ended.
We expect Technical Analysis to improve significantly in Q3 as the Alpenglow upgrade for Solana launches, the Leios testnet for Cardano activates, and the CLARITY Act catalyst arrives.
OVERALL ASSESSMENT:
Your portfolio is going through a difficult semester. The price report is genuinely painful. We understand.
But your portfolio's structural development, institutional backing, and regulatory progress are among the strongest we've seen in any cycle. The foundation being built right now — at Fear & Greed 10, at the 200-week SMA, with Saylor adding dots and Bitmine buying $214 million — is the foundation that the next bull market will stand on.
We recommend patience, continued engagement, and avoiding any decisions based solely on the grade sheet.
The semester is not over. Q4 is coming.
Signed, Your Crypto Portfolio's Progress Team 🚀
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