🔮 Command Center

1/ BTC ETFs just hit $6.18B in cumulative outflows — the longest selling streak since launch.

2/ Last year at this time, ETFs were buying 46,000 BTC. Now they're net sellers.

3/ But here's the contrarian signal: Google searches for 'bitcoin bear market' just hit a 5-year high.

4/ History shows peak retail fear ≠ peak price pain. The 200DMA at $58K is the line to watch.

5/ Bear markets are where conviction is tested and portfolios are built.

1/ Claude Opus 4.6 just dropped and SaaS stocks lost $285B in market cap in one week.

2/ ServiceNow, Salesforce, Adobe — all hitting 52-week lows.

3/ What's happening: AI is no longer a feature. It's replacing entire software categories.

4/ The opportunity? Infrastructure picks & shovels. The companies building the rails, not the replaced apps.

5/ We're at the 'electricity moment' — not the appliance moment.

1/ After 8 years of investing in Web3, one pattern keeps repeating:

2/ The best founders don't pivot away from bear markets. They build deeper.

3/ 2018 bear → DeFi. 2022 bear → modular chains. 2026 bear → ?

4/ My bet: AI-native crypto infrastructure. The teams building now will define the next cycle.

5/ If you're a builder reading this — the best VCs are the most accessible during downturns. Reach out.