From Rugged To Riches 21
The Road to Redemption: From Rugged to Riches, Week 22
Greetings frens: And happy Independence Day, my American readers. I hope this 21 weekly update finds everyone safe and in good health, wealth and spirits. It was a shorter trading week, but just as busy with the headlines- despite that I am trying a more modest approach in this publication. This newsletter has gradually strayed into much more of an actual news recap than I intended at the onset of this project. With that being said, I am going to try to return to a more tech and economy-based newsletter moving forward. Now, let’s get into it. 👇
The Macro:
The first half of the year has now officially closed out. This was a shorter week of trading, but there were still some pretty interesting developments across the markets. Taking center stage prior to the American holiday, Donald Trump’s OBBB was signed into law on July 3 (with a 51-50 vote, broken by Vice President, JD Vance), to the chagrin of Democrats and many citizens in the country, as the reality of dramatic healthcare cuts and tax breaks for the wealthy set in. With this, his favorability and approval ratings continue to drop.
As USD continues to drop, it is becoming the “cleanest dirty shirt,” and the nation just hit $37 trillion in debt. With the recent passing of OBBB, the fiscally responsible parties' creation might possibly create One Big Beautiful Debt Spiral. As I’ve previously reported, economists are expecting provisions to add at least $3 trillion more to the deficit.
I know I said this will become more economy-focused and in a round-about way this next piece is, as it will affect not only the ongoing conflict between Russia and Ukraine, but also how allies who have been continuing to aid Ukraine will view America now, the Trump admin has halted air defense supplies to the warring country. This comes as Russia has been upping their airstrikes in recent weeks.
The Trump admin’s trade deal(s) deadline is coming up- and it’s not looking great. So far the only deals struck have been made permanent with the UK and Vietnam, with a temporary deal with China that will be renegotiated in coming weeks. An updated July 2 report from the Tax Foundation shows how damaging the proposed tariffs will be for the US economy if carried out.
Update 21: This week’s publication is cut significantly shorter, I spent some time touching grass and am still working out the kinks on a new format and how to best convey the news and my activities moving forward.
Pionex Bot: BTC +8.16% / ETH +15%
On-chain endeavors: I was rather lackluster with activity this week, with not much to write home about.
In some big on-chain news (that obviously wasn’t me) an old Bitcoin wallet woke up, “Satoshi-era, or OG,” moving more than $8 billion worth of the asset after holding it for over 14 years. This sparked conspiracy theories of Satoshi returning, when in my opinion that man is unfortunately no longer with us, which would somewhat line up with Satoshi’s last cryptic message. That may be a mystery we will never solve, we might not need to.
EVM: I was primarily swing trading $ETH and wBTC this week, as they both remained in pretty tight channels, making it easy for small gains here and there- and again I wasn’t going to be upset if I was stuck on either side of the trade. Options on Derivio continued as well, this week branching into some unusual and previously untouched 30-minute charts (DYM, SOL, LINK, AAVE, UNI).
Solana: Trading on Jup was pretty slow this week, only one trigger was hit and I wasn’t going to force a leveraged trade. Been there, done that. Doesn’t usually work out in my favor.
What I am currently looking at:
Because I was out touching grass, I didn’t look into any new projects this week. Moving forward as this newsletter heads into a more market-centric, the research into new and existing projects will resume.
📆 Trump’s 90-day tariff deadline is Wednesday July 9.
🔓Optimism has a 4.47 million $OP unlock on Friday July 11.
Wrap Up/TLDR: This week was a bit different and I’m looking forward to a more realized model of what I set out to do in coming weeks, but as always, I appreciate your reading.
And remember, WGMI, or else. Until next week,
-Jinzo
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