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![BanklessHQ Avatar](https://lunarcrush.com/gi/w:24/cr:twitter::1225557966142820354.png) Bankless [@BanklessHQ](/creator/twitter/BanklessHQ) on x 318.4K followers
Created: 2025-07-02 12:00:01 UTC

LIVE NOW -- What the Onchain Data Says About Crypto's Next Move

@JustDeauIt of the DeFi Report returns to unpack what onchain data says about Bitcoin, ETH, and altcoins. We dive into why the market may be coiling beneath the surface, whether altcoins are due for a “hate rally,” and how valuation metrics reveal surprising accumulation trends. Michael also shares his current portfolio moves, including high-beta bets like Pepe and ENA, and lays out the macro triggers that could spark the next leg up.

[TIMESTAMPS]

0:00 Intro

2:19 The HODLer's Fallacy: Rethinking Conviction in a Naturally Extractive Market

7:03 BTC Onchain Data & Price Explanation

15:23 Altcoin Season Index

23:24 ETH & Solana Onchain Data

32:30 Beta Assets Bull Case

38:46 Ethena Memo

51:14 Crypto Equities

55:45 Liquity & The Macro Setup

1:00:53 Michael’s Portfolio Today

1:02:31 How to Value an L1

1:02:53 Quarterly Reports

1:04:40 Closing & Disclaimers

![](https://pbs.twimg.com/amplify_video_thumb/1940305075676545025/img/sCnGq5ill72-gxUK.jpg)

XXXXXX engagements

![Engagements Line Chart](https://lunarcrush.com/gi/w:600/p:tweet::1940379935606284612/c:line.svg)

**Related Topics**
[stocks](/topic/stocks)
[accumulation](/topic/accumulation)
[altcoins](/topic/altcoins)
[cryptos](/topic/cryptos)
[onchain](/topic/onchain)
[bitcoin](/topic/bitcoin)
[coins layer 1](/topic/coins-layer-1)
[coins bitcoin ecosystem](/topic/coins-bitcoin-ecosystem)

[Post Link](https://x.com/BanklessHQ/status/1940379935606284612)