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Bitcoin just closed its first weekly candle above the 50-week moving average in 45 weeks, a line Galaxy Digital’s Alex Thorn says marked the bottom in four of the five completed bear markets. The Coinbase premium stayed negative for 166 of the last 168 hours anyway.

Ram Ahluwalia and Chris Perkins read that gap differently. Ram calls the move a short squeeze, and says that doesn’t make it illegitimate. Chris argues crypto has entered a regime change now that regulators no longer treat every token with a cash flow as a security.

Austin Campbell, Ram, and Chris also cover the Fed’s first rate hike since July 2023 and why the 10-year barely moved. Chris flags the cost of servicing US debt, and Austin explains why, with $30 trillion outstanding, rate hikes stop being restrictive and “just spray more cash out.” Then Meta’s Muse agent, which Amazon has blocked as an unauthorized AI agent, kicks off a debate over whether AI splits into mass-market apps and institution-only tools.

Plus, Austin predicts Congress won’t touch the deficit until Social Security runs short in the 2030s, and Ram says superintelligence isn’t coming, but an AGI that’s “extraordinarily competent and highly effective” is good enough.

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