Economist Alex Krüger dismissed concerns about the crypto bull cycle ending, arguing that widespread bearish sentiment creates a contrarian buying opportunity as markets prepare for recovery.

In an Aug. 30 X post, Krüger noted that “most crypto charts now look so broken and bearish that is bullish,” citing significant long liquidations as evidence of capitulation.

The economist positioned bullishly for the coming week after experiencing losses earlier in the trading session.

Krüger observed that the recent market decline primarily affected Bitcoin and Ethereum, while altcoins stopped crashing earlier in the session. He added that such divergence often signals upcoming strength,

He emphasized that optimal buying opportunities emerge “when everybody is panicking, and not when we are all celebrating.”

The economist expects market volatility to persist until the Federal Reserve’s next meeting, noting that a rate cut remains incompletely priced into current valuations. Even with potential downside risks, Krüger expressed “extreme confidence that this is not the end of the cycle.”

No blow-off tops for now

When questioned about the longevity of the cycle without a blow-off top, Krüger explained his “super cycle” thesis. This framework envisions key assets continuing higher with “smaller dips and a lower slope” rather than traditional manic runs followed by major corrections.

Krüger does not anticipate a blow-off top in 2025, citing insufficient conditions for major manic moves except possibly for Solana due to accumulating demand.

Furthermore, he projected that changes in the Federal Reserve’s composition in 2026 could trigger the next major bull market peak.

Contrary to bearish commentators who suggest excessive optimism requires crushing, Krüger assessed the current sentiment as balanced, with both bullish and bearish perspectives fairly represented.

‘Statistical nonsense’

He dismissed September’s bearish seasonality as “statistical nonsense” from pattern-seeking behavior rather than meaningful market conditions. He expects trading to alternate between long and short liquidations until Fed policy decisions establish a clear trend.

While acknowledging that a 25 basis point cut would not surprise markets, he questioned whether it could serve as a catalyst that may trigger the blow-off top that many analysts predict.

Krüger then highlighted options skew data showing puts trading at premiums to calls, indicating fear-driven positioning. This technical setup, combined with liquidation-driven selling pressure, creates conditions favoring contrarian positioning.

The economist’s analysis suggests that the current market weakness represents temporary volatility rather than a structural breakdown, positioning the market for recovery as liquidation waves clear weak hands.

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Imagine a world brimming with super-powered athletes at a fantasy boarding school, competing in bizarre and thrilling sports, and embarking on epic adventures along the way. That’s Super Champs.

Super Champs is a fantasy universe designed to be more than just a game — it’s an entertainment property built using cutting-edge web3 technology.

At its core, Super Champs is a “transmedia” franchise, where the story and characters extend across multiple forms of media — from games to animation, comics, and more.

Here’s everything you need to know about the ambitious Super Champs project.

Key Insights

• Super Champs is crafting an entertainment universe based on a fantasy sports academy
• The project incorporates NFTs for characters and gear, with a focus on cross-game functionality
• Super Champs features distinct games — including Racket Rampage and Bullet League
•  The ecosystem uses its own L3 chain and native $CHAMP token for transactions, rewards, and governance

What is Super Champs?

In their own words, Super Champs is building an “animated metaverse centered around a sports-themed academy.”

Picture a digital world revolving around Super Champs Academy — a fantasy boarding school for student-athletes, each with their own unique, sports-based superpowers.

Their goal is to reimagine sports through a more fantastical and unconventional lens, rather than replicating a traditional sports simulation.

This imaginative approach has helped Super Champs stand out in a crowded gaming space, offering rich storytelling, distinct characters, and layered lore to create a uniquely immersive experience.

What does the Super Champs ecosystem consist of?

Rather than focusing on one core element, Super Champs is a collection of interconnected experiences designed to work in harmony.

The Games

Super Champs offers a variety of gaming experiences that centre around its core world and characters.

Racket Rampage

The first title introduced in the Super Champs universe, Racket Rampage is often described as a high-stakes tennis match in the clouds — where frying pans serve as rackets and players sport jet-packs.

This game was the entry point for many early community members and served as a gateway to the world of NFTs and digital ownership.

Bullet League

A more recent addition, Bullet League shifts gears into the battle royale genre. Similar in style to Off The Grid, players drop into an arena, collect weapons and gear, and fight until one team or player is left standing.

Players take on the role of existing Super Champs characters, each wielding unique weapon abilities. This broadens the project’s appeal while deepening the lore surrounding its characters.

Future Games?

More titles are on the way. The team aims to launch “novel games beyond Racket Rampage and Bullet League,” cementing gaming as a central pillar in Super Champs’ long-term roadmap.

The NFTs

Unsurprisingly, Super Champs leans into blockchain technology — particularly NFTs.

In this universe, NFTs serve as verifiable digital collectibles, representing characters or gear that players can earn or acquire.

True Ownership

Because these items exist on-chain, players genuinely own them — not just as numbers in a centralised database. There’s also a marketplace for trading items with others.

Cross-Game Utility

A core promise of Super Champs is enabling cross-game NFT utility. Characters and gear acquired in one game should be usable across the entire ecosystem — including current and future titles.

In short, items in the Super Champs universe are designed to become more useful over time — a vital mechanic to keep players engaged across multiple experiences.

The Media

Super Champs presents itself as much more than a game — it’s actively extending its universe through other forms of storytelling.

Animated Series

A short-form animated series starring Kigu, a character from Racket Rampage, premiered on social media.

It gained major traction, drawing over 2.4 million views on TikTok and 10 million views across platforms — a clear sign that the characters appeal to wider audiences, even beyond gaming.

Comic Books

A comic series is also in development, with the debut issue set to explore the backstory of Lupey and her arrival at Super Champs Academy.

A teaser is expected soon — with comics offering a rich avenue to deepen the world-building and expand the lore.

By combining games, NFTs, animation, comics and beyond, Super Champs is aiming to build a recognisable brand and a loyal fanbase for long-term sustainability.

What have Super Champs achieved so far?

Super Champs has made impressive strides. Key milestones include:

• March 2022: First NFT drop, Tennis Champs Genesis, launches on Ethereum
• June 2023: Hosts the free “Sneak-A-Groopie” NFT event, expanding visibility
• September 2023: Joyride Games announces a $30M raise and acquires Bullet League
• June 2024: Ecosystem activity begins ramping up on Base
• September 2024: Launch of the Super Champs L3 Chain and BuilderKit
• November 2024: The $CHAMP token launches on Base

How has Super Champs been received?

Super Champs has carved out a distinctive niche in the NFT space by anchoring its IP around digital ownership:

• Key Selling Points: Cross-game NFT utility, transmedia storytelling, and a fresh, fantastical sports theme
• Early Success: Over 10 million views on the animated series and 125,000 reported daily active users (as of September 2024) show strong initial traction
• Causes for Concern: Transparency issues around the Super Champs Protocol Foundation, limited technical detail on their L3 chain, and the long-term execution of cross-game utility merit close watch.

What does the future hold for Super Champs?

Looking ahead to 2025, Super Champs has mapped out several avenues for continued growth:

• More Content: Expect new characters, games, and deeper storytelling
• Growth Potential: Expanding NFT utility and new media experiences could further boost community growth
• Key Challenges: Maintaining high standards across games, media, and tech is demanding — and competition is fierce. Trust and community support will be critical to long-term success

Super Champs offers a visually distinctive, imaginative take on web3 entertainment.

With its blend of rich characters, multi-genre gameplay, NFT-driven ownership, and expanding transmedia presence, the project is shaping up to be a standout. Early traction in views and user numbers is encouraging.

Still, success will require consistent quality and transparency. To keep momentum, Super Champs must continue to earn trust, deliver content, and stay ahead of fast-moving competition.

For now, it’s one of the most promising and watch-worthy projects heading into the year ahead.

The chief executive of exchange-traded fund (ETF) provider VanEck is predicting that “super apps” will challenge traditional finance’s payments system.

In a new interview with CNBC Television, VanEck CEO Jan Van Eck says that apps that offer support for stablecoins will soon begin to put pressure on traditional methods of payments.

According to Van Eck, since stablecoins skip out on intermediaries such as Visa and Mastercard that charge about 3% in fees for payments, the super apps could serve as viable alternatives.

“I definitely think that this will put cost pressure on the payments system because it is cheaper and allows all these competitors to come into the market, whether it’s a Kraken, whether it’s a Robinhood, whether it’s an X, there are going to be a lot of super apps.”

On Friday, President Trump signed into law the GENIUS Act, which establishes a stringent regulatory framework for firms issuing payment stablecoins.

Van Eck goes on to note that while the stablecoin issuer Circle has done well so far this year, new competition is gearing up to enter the space.

“It’ll be several quarters before it’ll impact earnings, either to the positive or the negative. But stocks are kind of moving in anticipation of that right now.

And you see the incumbents – Ethereum has had a great month; Circle, the one public stablecoin company, has had a great run since its IPO (initial public offering). The market is getting ahead of it, but those are just the incumbents; there are going to be a lot of competitors entering into this space.”

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The crypto analytics firm Glassnode says most Bitcoin (BTC) holders are now seeing substantial gains in their investments.

In a new report, Glassnode says that “a super-majority of Bitcoin investors” are currently holding unrealized profits following the flagship cryptocurrency’s recovery to $107,000.

Holders now have an average paper gain of 125%.

“After finding firm support at the Short-Term Holder cost basis of $98,300, a level that often delineates local bull and bear regimes, Bitcoin rebounded to $107,000. This move pushed the majority of investors back into profit, with total unrealized gains reaching a staggering $1.2 trillion.”

The dominant market behavior suggests that investors are unlikely to cash out their gains. The report says the current price level appears less attractive for profit-taking than when Bitcoin breached the three-digit mark.

“Despite this surge in profitability, investor behavior signals a strong preference for HODLing, as the current price range appears insufficient to trigger significant profit-taking. This is reflected in declining realized profits, a continued downtrend in Liveliness, and Long-Term Holder supply climbing to a new all-time high.”

Bitcoin’s market capitalization, which takes into account the digital asset’s circulating supply at the current market price, currently sits at $2.13 trillion. BTC’s realized cap, which values each coin at the last transacted price, is pegged at $958 billion.

The flagship crypto asset is trading for $108,834 at time of writing, up by 2.97% over the past 24 hours.

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Family offices are reportedly investing a lot more in a certain type of alternative investment amid global uncertainty, according to the biggest asset manager in the world.

Private credit is emerging as a top alternative asset for family offices, according to a new survey by BlackRock, reports Bloomberg.

Of the 175 family offices around the world that were surveyed, more than half have a bullish outlook on private credit and nearly one-third say they are planning to increase allocations to the asset class this year.

Says Armando Senra, head of the Americas institutional business at BlackRock,

“They are diversifying their exposure within private markets. While allocations used to be primarily into private equity growth, now what you see is high interest in private credit, the beginning of interest in infrastructure.”

The survey also finds that 30% of respondents plan to commit more of their money to the infrastructure market.

Lili Forouraghi, BlackRock’s head of family offices, health care, endowments, foundations and official institutions in the US, says the super-rich are increasingly interested in the potential of private credit to generate a higher yield than public bond markets.

She also says that infrastructure investments related to decarbonization and “the whole buzz of AI plus data centers, those are the areas that have intrigued a lot of our clients.”

The survey finds that, on average, alternative investment comprises 42% of assets in family office portfolios, up from 39% in a prior 2022-2023 survey, and that private credit holdings make up anywhere from 15% to 30% of some family offices’ portfolios.

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Michael Saylor, the billionaire Bitcoin advocate and executive chairman of Strategy, is backing Pakistan’s state-led Bitcoin pivot, according to new footage and media reports emerging from Islamabad.

A call with top officials marks the latest escalation in Pakistan’s plan to formalize a Strategic Bitcoin Reserve (SBR).

The video footage, posted on X by Finance Ministry media officer Hamid Raza Wattoo, shows Saylor with Finance Minister Muhammad Aurangzeb and Minister of State for Blockchain and Crypto Bilal Bin Saqib. The meetings follow Pakistan’s public announcement of the SBR on 28 May at the Bitcoin 2025 conference in Las Vegas.

Saylor’s outreach aligns with his long-standing call for sovereign Bitcoin reserves. While he has previously lobbied U.S. policymakers to adopt a Bitcoin strategy, his Islamabad support signals an interest in showcasing Pakistan as a geopolitical proof of concept. He is reportedly becoming an official advisor to the government’s Bitcoin reserve plan via the Pakistan Crypto Council.

Binance founder Changpeng “CZ” Zhao was also appointed a strategic adviser to the council in early April. His remit includes steering blockchain infrastructure, shaping the regulatory framework, and mentoring national digital-asset initiatives. This gives Islamabad a direct line to the world’s largest exchange as it pursues the Bitcoin reserve plan.

Pakistan’s reserve plan, championed by Bin Saqib, was introduced as a state initiative with plans to acquire Bitcoin using state assets and mine additional BTC using domestic energy resources. The Pakistan Crypto Council (PCC), which Bin Saqib also leads, has proposed allocating up to 2 GW of surplus energy to power mining facilities and data centers.

IMF tensions and energy politics

The plan has sparked tensions with international lenders. The IMF raised concerns about grid stress and fiscal strain if 2 GW were diverted for mining. Pakistan is currently seeking a new bailout agreement, and its power infrastructure is considered fragile.

Despite this, the PCC has continued promoting the reserve as a path toward “digital non-alignment”, leveraging Bitcoin to reduce dependence on the U.S. dollar and traditional credit channels. A PCC delegation even pitched the reserve to Donald Trump’s crypto-aligned economic team on 4 June in Washington.

Pakistan’s crypto policy remains complex. While the reserve is government-led, general crypto trading remains technically illegal under the State Bank of Pakistan (SBP) guidelines. The government is reportedly preparing a Digital Assets Authority bill, which may offer legal clarity when Parliament’s Standing Committee on Finance reconvenes.

Regional analysts are also watching closely. Pakistan’s pivot could ripple across South Asia. However, the move could unsettle major creditors like China, which has poured billions into Pakistan’s energy sector through the China-Pakistan Economic Corridor (CPEC).

What’s next?

It remains to be seen how Saylor plans to assist in an ongoing role in implementing the reserve and whether he will be working directly with CZ.

In the meantime, the SBR initiative is advancing quickly. With a sovereign reserve, surplus energy, and now the world’s most prominent Bitcoin evangelist in the picture, Pakistan is testing whether a fragile economy can hedge its bets with digital gold.

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A closely followed crypto strategist believes that the current Bitcoin pullback is setting up BTC for a move to new record highs.

Analyst Justin Bennett tells his 115,000 followers on the social media platform X that BTC’s retracement will likely drive traders to believe that the bull market is over.

According to the analyst, he expects Bitcoin to correct below $100,000 before it ignites a fresh leg up en route to $120,000.

“This is the part where everyone gets super bearish, expecting a 2021-style macro top.

It’s also probably where overly aggressive shorts get rekt.

1. The run-up isn’t even close to the same
2. The backdrop couldn’t be more different
3. I doubt they make it this easy.”

In 2021, Bitcoin attempted but failed to take out resistance at $69,000 twice, triggering a bear market that sent BTC to bear market lows of $16,000.

As for Bennett’s downside target for BTC, he thinks Bitcoin may bounce at $100,000 or $97,000.

“BTC next leg down confirmed.

104,800 flips to key resistance. Support is $100,000.

Same outlook for the last nine days.” 

At time of writing, Bitcoin is trading for $104,439.

Looking at the broader crypto market, the analyst says he’s keeping an eye on the TOTAL chart, which tracks the total market cap of all digital assets. Bennett believes that TOTAL will correct and find support at $3.04 trillion, which aligns with his expected BTC pullback.

“I could be wrong. I’m certainly not always right. However, I’m not sure how some are interpreting this as bullish. 

Things can change, but right now, sellers are in control.” 

A bearish TOTAL chart indicates that investors are unloading their crypto holdings.

At time of writing, TOTAL is trading at $3.225 trillion.

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The boom in artificial intelligence (AI) may be hitting its next leg. Microsoft just reported accelerated cloud computing growth due to AI, while OpenAI’s ChatGPT is gaining hundreds of millions of users around the globe. One stock benefiting from this recovery is Super Micro Computer (SMCI 5.00%). The data center assembler is up around 20% in the last month and just got an upgrade from a Wall Street analyst.

Should you buy Super Micro Computer stock to for the next leg up in AI?

Riding the AI revolution

In the last five years, Super Micro Computer’s revenue is up over 500%. This is due to the growing spending on data center solutions from AI infrastructure providers like Microsoft. Super Micro Computer is an expert in assembling data centers with advanced computer chips from the likes of Nvidia, where Super Micro Computer spends a lot of money.

Companies like Microsoft will go to Super Micro Computer for efficient outsourcing of AI data center assembly as they try to build out more computing resources as fast as possible to keep up with demand. Management is currently guiding for $21.8 billion to $22.6 billion in revenue this fiscal year (ending in June), which is a slight decline from its previous guidance but would still represent solid growth from $15 billion in revenue last fiscal year.

As demand seems to be picking up for AI infrastructure again, Super Micro Computer is seeing its stock rocket higher. However, it is still down 67% from all-time highs and currently sports a market cap of $23 billion.

Image source: Getty Images. Super Micro Computer is a beneficiary of AI.

Slim margins and cyclicality

Super Micro Computer is simply a middleman for computer chips and data centers. Nvidia has a 62% operating margin. Amazon Web Services (AWS) has a 37.5% operating margin. Last quarter, Super Micro Computer had a gross margin under 10%.

What does this mean? Super Micro Computer is able to sell its products at only a slight premium to its input costs, which gives it extremely slim profit margins compared to its suppliers and customers. Nvidia and the AI cloud infrastructure companies hold a lot of power in the relationship. Last quarter, Super Micro Computer had a slim operating margin of just 3.2%.

This could pose trouble in a cyclical downturn, which will eventually come for the AI market. This is the ideal operating environment for Super Micro Computer — you couldn’t ask for more demand from customers — yet it still is barely generating a profit.

SMCI PE Ratio (Forward) data by YCharts.

Is Super Micro Computer stock a buy?

Things are going well for Super Micro Computer right now. Its stock is up over 1,000% in the last five years, even including its recent drawdown. The stock still looks cheap, with a market cap of $23.2 billion and a forward price-to-earnings ratio of 19. If demand for AI data center assembly keeps growing, the stock will likely be higher in a few years.

I still don’t think it is a good buy for a long-term portfolio. A cyclical downturn will eventually arrive in data center spending, which will almost assuredly lead to declining profit margins for Super Micro Computer. Given its already razor-thin profit margins with demand for its products and services at a fever pitch, it is likely to lose money when the cycle inevitably flips. This may not happen for a year or five, but it will happen eventually.

Super Micro Computer has thin margins because it does not provide the most value for the AI sector. This comes from Nvidia’s innovative computer chips, which it can sell at a premium price, and the cloud infrastructure providers selling computing power to software companies. Super Micro Computer does have a lot of revenue right now, but it is simply a middleman packaging computer chips together. It has practically zero competitive edge.

Even though Super Micro Computer is growing fast today and looks to be trading at a cheap price, investors would be smart to avoid buying shares. This is a cyclical company with no long-term competitive advantage in its industry.