NFTs’ Best Week of 2026

Welcome back to The Warmup.

I don’t care what they say, I think your crypto portfolio is amazing.

Here’s what we’re watching:

• Market Snapshot

• NFTs’ Best Week of 2026

• ETH Long Opportunity

• Aave’s Bad Debt Crisis May Be Solved

• Calendar

Market: BTC is holding steady while ETH and SOL show mild weakness. Equities are slightly red, and VIX moving higher signals rising short-term uncertainty.

NFTs’ Best Week of 2026

What’s going on:

The NFT market just posted its strongest week in months, with nearly every major blue-chip collection putting up double-digit gains.

The move is broad.

While Punks still sit at the top, Bored Apes are leading the momentum.

They’re up nearly 120% over the past month, driven by excitement around their new CEO and growing chatter about an IRL clubhouse.

What it means:

Many think the biggest reason behind the move is the end of OpenSea farming incentives.

For years, rewards programs across marketplaces like OpenSea, Blur, and Magic Eden pushed artificial trading activity.

Now those incentives are fading, and real supply and demand dynamics are starting to matter again.

With farming programs ending and organic demand returning, blue-chip collections are starting to reprice fast.

ETH Long Opportunity

What’s going on:

ETH is holding above the 200 EMA on the 4H chart near $2,300, showing strong support. Price looks ready to push toward the unswept highs at $2,450.

This suggests buyers are positioning for continuation higher.

Key levels we’re watching:

• Support: $2,250 → EMA200 support zone

• Resistance: $2,400 → key breakout level

• Target: $2,450 → liquidity sweep zone

• Invalidation: Close below $2,245 weakens setup

Directional Bias: Bullish

As long as ETH holds above support, momentum favors upside.

Aave’s Bad Debt Crisis May Be Solved

What’s going on:

Just six days after the $292M Kelp DAO exploit threatened Aave with massive bad debt, the DeFi United recovery fund has reached its target.

Stani Kulechov confirmed the fund is now large enough to fully back rsETH, pending final votes and execution.

Around $160M has been confirmed so far, with major contributions from Mantle, EtherFi, Lido, and Stani himself.

Another $71.5M in frozen attacker funds from Arbitrum adds extra recovery support.

What it means:

The goal was to prevent a major rsETH depeg and over $124M in unrecoverable bad debt for Aave.

For now, it looks like they avoided the worst-case scenario.

Aave may have just dodged one of the biggest DeFi bad debt events of the year.

Governance still needs to finalize everything, but the immediate crisis looks under control.

Key Events this Week

Major token unlocks:

• Jupiter (JUP): ~$10M unlock on Apr 28 (~1.5% of supply)

• Sui (SUI): ~$40M unlock on May 1 (~1% of supply)

Macroeconomic data calendar:

Mon (Apr 27):

• US Markets React to Cancellation of US-Iran Talks: Geopolitical risk event → could impact oil prices, risk sentiment, and broader market volatility.

Tue (Apr 28):

• April Consumer Confidence Data: Measures household sentiment and spending outlook → stronger confidence signals resilient consumers, weaker readings may suggest slowing demand.

Wed (Apr 29):

• April Fed Interest Rate Decision + Statement: Key monetary policy event → markets will watch for rate path guidance and Powell’s tone on inflation and growth.

Thu (Apr 30):

• US Q1 2026 GDP Data: First estimate of quarterly economic growth → stronger GDP supports risk assets, weaker growth raises recession concerns.

• March PCE Inflation Data: Fed’s preferred inflation gauge → higher PCE increases pressure for tighter policy, softer data supports rate cut expectations.

Major Earnings Releases:

• Wed (Apr 29): Microsoft, Amazon, Meta, Google

• Thu (Apr 30): Apple

• Skilled Polymarket traders are a 3% minority, and everyone else funds their gains

• CFTC sues New York over prediction market crackdown

• Brazil blocks Kalshi, Polymarket in sweeping ban citing investor protection

Bitcoin’s biggest opportunity may still be ahead, not because retail investors are rushing in, but because they still are not.

While institutions, ETFs, and even governments are building exposure, true retail FOMO has not arrived yet, which makes the current setup even more bullish.

At the same time, short term macro risks and market fear could still create more downside before a final bottom is in place.

Long term, Bitcoin continues to evolve from a speculative asset into global digital hard money, and the path to $1M+ will be driven by adoption, not hype.

— The Warmup Team

Always do your own research. This newsletter is supplemental material to help educate readers as they make their own decisions. Projects mentioned here are provided to give a potential early-mover advantage.