The 35x Bitcoin-To-Gold Ratio

Sigel wrote on X that if Bitcoin regains the 35x BTC/XAU cross implied by current levels of the Buffett Indicator, the price target sits at $160,000. 

Bitcoin currently trades near $81,000 while gold prices hover around record highs, leaving the current Bitcoin-to-gold ratio at roughly 17x.

A chart shared by Sigel compared the BTC/XAU ratio against the Buffett Indicator, which measures the total value of the US stock market relative to GDP. 

It showed a widening divergence through 2025 and 2026, as equities climbed to 230% of GDP while Bitcoin lagged.

Sigel argued that the ratio remains well below historical levels seen during periods when US equities traded at…

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Here are the key analyst insights:

Needham analyst John Todaro reaffirmed a Buy rating, while raising the price target from $130 to $150.

Citizens JMP Securities analyst Devin Ryan reiterated a Market Perform rating on the stock.

Check out other analyst stock ratings.

Needham: Circle Internet Group reported revenues of $694 million. It narrowly missed Street expectations of $715 million, while delivering earnings of 21 cents per share above consensus estimate of 19 per share.

RLDC (revenue less distribution costs) margin expansion drove the earnings beat, , Todaro said in a note.

“Circle had one of its most impressive quarters yet in our view, as the company rolled out a robust set of…

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Sharplink Gaming Inc. (NASDAQ:SBET) has posted a $686 million net loss in Q1, yet TD Cowen reiterated its buy rating with a $16 price target, implying 106% upside from Monday’s close at $7.76.

Revenue Jumps From $742,000 To $12.1 Million

Sharplink reported Q1 2026 revenue of $12.1 million on Monday, up from just $742,000 in the same period last year. 

The company pointed to staking income from its treasury strategy as the main driver.

The net loss of nearly $686 million came mostly from unrealized losses tied to Ethereum (CRYPTO: ETH) price declines. 

Ethereum was trading around $3,000 at the beginning of 2026 before dropping roughly 40% to $1,800 and closing the quarter at nearly $2,000.

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Bitcoin (CRYPTO: BTC) is approaching its closely-watched 200-day moving average, a level that has historically acted as major resistance during prior bear markets.

Historically Similar Pattern

In a podcast on May 11, crypto analyst Benjamin Cowen compared the current setup to both the 2018 and 2019 cycles.

In 2018, Bitcoin formed a February low, a higher low in April, then rallied into the 200-day moving average before rolling over later in the year.

The current structure looks strikingly similar, with Bitcoin bottoming near $60,000 before forming a higher low around $64,000-$65,000.

The key debate now is whether Bitcoin follows the 2018 path, where the rally failed, or the 2019 scenario,…

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The move came after the company’s latest update on its so-called “Genius Plan,” now in an execution validation phase tied to its Bitcoin treasury strategy. The initiative has generated $190,000 in realized gains and includes a $95,000 share repurchase program set to begin June 6.

China-based Antelope is positioning the plan as a shift toward more active digital asset management aimed at enhancing shareholder returns through buybacks and crypto exposure.

Custody Partnership and Capital Plans

CEO Tingting Zhang said the company plans to allocate 90% of proceeds from its recently effective $200 million Form F-3 shelf registration toward further investments in the “Genius Plan.”

Price… Read more on Benzinga

Earnings Snapshot

The company reported EPS loss of $1.52, missing analyst expectations of 50 cents. Revenue came in at $136.4 million, also below the $145.4 million consensus estimate.

Gross margin came in above 40%, down from 47% in the previous quarter. The company posted a net loss of about $378 million, including $263 million in non-cash mark-to-market charges.

It reported adjusted EBITDA loss stood at $241.2 million versus a loss of $57.8 million in the year-ago quarter.

As of March 31, 2026, the company’s cash position stood at $260.3 million.

“This quarter, we accelerated our digital infrastructure evolution across four key areas: land and power development, with ERCOT approval of 300…

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AI Spending And War Create Perfect Environment For Bitcoin

Hayes laid out his thesis in a new essay titled “The Butterfly Touch,” arguing that the combination of AI buildout and the US-Iran war creates the perfect environment for Bitcoin.

The political will to win the AI race combined with funding the buildout through printed money and bank loans produces vastly more units of fiat tomorrow than today. 

Hayes explained that as the cost per unit of intelligence declines, the complexity of models and tasks performed by AI agents increases. That means compute consumption increases exponentially, which is the essence of Jevons Paradox.

When Does The AI Orgy End?

Hayes believes two events will…

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