Bitcoin just reclaimed $93,000, up roughly 10% from Monday’s lows, and fully erased the early-week dip.
This happened right as the market hit peak panic around Strategy and Tether.
◽️ On Strategy, there was never any forced-selling risk. The company holds $1.44B in cash, enough to cover about 21 months of obligations without touching a single BTC.
The $MSTR stock bounced 14% yesterday and the market cap is climbing back toward mNAV.
◽️ As for Tether, the panic was the same as always. Their investments come from profits, not customer funds and solvency was never the issue people tried to make i

Today at 3pm CET, an important event will take place for Hyperliquid and for $HYPE.
Sonnet BioTherapeutics is holding a new shareholder vote on the merger with Hyperliquid Strategies and Rorschach I LLC.
The first vote in mid-November saw 95% approval but failed due to lack of quorum.
The two-week delay suggests the team used this time to secure the necessary participation. In our view, the probability of approval is materially higher this time.
If the vote passes, the implications for HYPE are significant:
◽️ 2.6M HYPE will be contributed to the DAT and locked.
◽️ At least $265M will be used

HIP-3 markets just hit a new daily record with more than $165M in 24 hours.
XYZ100 remains the dominant market with more than $70M traded today, and @tradexyz still accounts for the majority of activity.
We are also starting to see early traction on @felixprotocol's market, while @ventuals remains behind.
This is only the beginning, and we are convinced that volumes will continue to accelerate:
◽️ Hyperliquid introduced "Growth Mode", with a 90% reduction in taker fees for HIP-3 operators, making their markets extremely competitive.
◽️ A dozen new markets are still expected, including @hyenatr

🔴 While the US government shutdown has just ended and the Fed has put an end to QT, the crypto market is once again deep in the red.
BTC broke below $98,000, a key level we’ve identified for weeks as the pivot point of the uptrend that began earlier this year.
One word to understand the situation: uncertainty. Here is our analysis 👇

🔻 In the current market, one sector stands out: privacy.
In the top 100, $DASH and $ZEC are among the only 4 cryptos showing gains over the past 24 hours.
On the protocol side, only 4 projects saw TVL growth in 24h, 2 of them are prediction markets.
These signals matter and are instantly visible through our updated OAK heatmap:
▫️ Sort by market cap, 24h volume, or 24h % change for cryptos
▫️ View by blockchain or protocol, sorted by TVL or 24h TVL change
▫️ One-click PNG export
→ Crypto heatmap:
→ Projects heatmap:

🟣 Euler doubled its revenue last quarter.
The lending protocol @eulerfinance has seen exponential growth this year, particularly during the last quarter:
⬜️ TVL: +53% QoQ
⬜️ Fees collected: +110% QoQ ($12M → $26M), representing a cumulative annual growth of 1,000% (with a more representative median rate around 477%)
⬜️ Net revenue: +90% QoQ ($1.83M)
Despite a sharp increase in distributed incentives (from $700K to over $3.1M), Euler’s profitability kept growing.
👉 What does this mean for users?
Net income for EUL token holders rose by 120% over the period, thanks to the protocol’s buyback &

🔴 In 2025, 90% of crypto info is just noise. Here’s how we built the tool to find the 10% that really matters.
It’s time to introduce the features of OAK Research Premium.
A thread 👇

◻️ Alpha Feed
The Alpha Feed is built so you don’t waste hours scrolling through endless tweets and articles for just one useful insight.
For example: Missed Plasma’s presale and the $XPL launch? We had it covered on OAK.
With Alpha Feed, you get:
▫️ Clear, filtered insights
▫️ Context with market sentiment
▫️ Actionable takeaways for your portfolio
The goal: go beyond the noise and give you only what matters for the market and your investments.

◻️ Watchlist
Our exclusive Watchlist highlights the few projects our analysts think have serious growth potential.
For each token, we share:
▫️ Key indicators (quality, liquidity, tokenomics, trends, market interest, etc.)
▫️ A summary of our investment thesis with bull & bear scenarios
▫️ Regular updates based on news, market shifts, and on-chain signals
The goal: a clear view of the projects truly worth your attention.

◻️ OAK Index
The OAK Index aggregates multiple metrics (macro sentiment, flows, volumes, on-chain data, etc.) into one market opportunity signal.
It’s a radar to detect favorable market windows and optimize your allocation decisions.
The OAK Index is an experimental indicator on BTC, which will continue to evolve over time.

🔴 Less than 24 hours before @PlasmaFDN's mainnet goes live.
Here is a comprehensive mapping of all protocols that will be available on Plasma tomorrow.
Trillions