Share this article
Here Comes the Most Bizarre Bull Market Yet
Social unrest on the one hand, “Degen Finance” on the other. Strap in for a very weird bull run.
Updated Sep 14, 2021, 9:44 a.m. Published Aug 15, 2020, 2:00 p.m.
Social unrest on the one hand, “Degen Finance” on the other. Strap in for a very weird bull run.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
This episode is sponsored by Crypto.com, Bitstamp and Nexo.io.
On this edition of The Breakdown’s Weekly Recap, NLW looks at the strange melange of realities interacting in the new emerging bull market.
On the one hand, bitcoin has found narrative relevance and technical importance in a world of social unrest and increased state involvement in economies and citizens’ lives.
On the other, insane financial engineering experiments are seeing three-quarters of a billion dollars in value locked up within hours before a bug sees it all go away.
In the middle, agents of chaos like new bitcoiner (and LINK-holder) Dave Portnoy.
This is going to get weirder before it gets more normal.
See also: What People Who Aren’t Bullish on Bitcoin Still Like About It
This week on The Breakdown:
Monday | The Latest on the Global Economy’s Most Contentious Relationship
Tuesday | Joe Rogan for Fed Chair! Feat. Hugh Hendry
Wednesday | #SupplyGate and the Battle to Frame Crypto’s Next Bull Run
Thursday | Preston Pysh on Why We’ve Entered a Fundamentally New Era of Bitcoin Accumulation
Friday | Fortnite vs. Apple and Google Is the Internet’s First ‘World War’
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
More For You
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
What to know:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
More For You
Filecoin drops as bears test support
The storage token faced selling pressure at the $1.33 resistance level while institutions accumulated on the dips.
What to know:
- FIL declined from $1.32 to $1.29 over 24 hours as a bearish channel pattern emerged.
- Trading volume was 180% above average during the rejection from $1.33 resistance.
- A sharp bounce from $1.28 support signals institutional buying interest at key levels.
Top Stories
