Welcome back to The Breakdown with me, NLW.

It's a daily podcast on macro, Bitcoin, and the big-picture power shifts remaking our world.

The breakdown is sponsored by nexo.io and produced and distributed by CoinDes.

What's going on, guys? It is Saturday, June 5th, and that means it's time for the weekly recap.

So what happened this week? I mean, honestly, it felt eerily quiet. It could be how many people

were down in Miami and not on Twitter. It could be that the last few

weeks have been a never-ending rain of fud bombs from Elon to energy to China that this week

felt comparably mild. It could also be price action or the lack thereof. This was the type of week

where your eyes sort of blur and every time you check the price, it feels more or less the same, even though you can't exactly remember what it is. What this week

certainly didn't have is any sort of rebound momentum, didn't have any big exciting announcements

that propelled the market forward. In fact, we instead saw the creep in of not only bare market

predictions, but bare market preparation.

First, the prediction side.

Boutique investment research firm, MRB partners, released a report last week

titled, Has the Crypto Fever Broken?

They point to a couple potential reasons.

First, the FUD.

They note two main dimensions to this, environmental concerns and regulatory

risks. These are things we've discussed extensively on this show. Environmental concerns have

been particularly acute and in the media first since Tesla made their big Bitcoin buy, and second,

since Elon walked it back because of environmental reasons. Regulatory risks feel frankly

more like a forward projection, as we'll get into in a moment. But the second reason they gave for a

...