Hyperliquid Fundamentals Remain Intact Despite Noise, Oracle Margin Pressures Highlight the Advantage of Cheap Energy from Bitcoin Miners

Discussed in today's video:

Risk-off driven by AI margin concerns: Broader market weakness followed reports of Oracle’s thin AI cloud margins, rather than crypto-specific factors or changes in Fed expectations. Bitcoin miners show relative strength: Power cost sensitivity in AI infrastructure highlights the leverage of energy-efficient compute providers. Bitcoin miners such as WULF, CIFR, IREN, HIVE, BITF, and GLXY outperformed. Gold-to-Bitcoin rotation thesis intact: Gold’s rally toward $4,000 reinforces Bitcoin’s long-term “digital gold” narrative. Each re...