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Stablecoin Transaction Volume Tops $10 Trillion as USDC Dominates JanuaryStablecoin usage reached a new milestone in January, with total onchain transaction volume surpassing $10 trillion, according to data from Artemis. Key takeaways Total stablecoin transaction volume exceeded $10 trillion in JanuaryUSDC alone processed over $8.4 trillion, representing the majority of activityStablecoin usage continues to scale far beyond most traditional payment railsOnchain dollar settlement is increasingly concentrated around USDC The data shows that USD Coin (USDC) accounted for the overwhelming majority of that activity, processing more than $8.4 trillion in transactions during the month, underscoring its dominant role in global digital dollar settlement. USDC’s Growing Share of Onchain Dollar Flows The Artemis data highlights a clear trend: USDC has become the primary settlement layer for onchain dollar transactions. While multiple stablecoins contribute to overall volume, USDC’s share stands out sharply, dwarfing competing tokens across the month. This dominance reflects USDC’s deep integration across centralized exchanges, decentralized finance protocols, and institutional payment flows. Its consistent usage across multiple blockchains has made it the preferred medium for high-frequency, high-value transfers, particularly as regulatory scrutiny around stablecoins continues to intensify. Why the $10 Trillion Figure Matters Crossing $10 trillion in monthly transaction volume places stablecoins in a league comparable to - and in some contexts exceeding - traditional global payment networks. Unlike card or bank rails, these transfers settle near-instantly, around the clock, and across borders, with full onchain transparency. As noted by Circle CEO Jeremy Allaire, the data underscores how stablecoins are no longer a niche crypto tool, but a core piece of global financial infrastructure, increasingly used for trading, remittances, treasury management, and onchain commerce. The Bigger Picture The concentration of activity in USDC suggests the stablecoin market is entering a scale-and-trust phase, where liquidity, compliance, and network effects matter more than sheer token count. If current trends persist, stablecoins - and USDC in particular - may continue absorbing a growing share of global transaction settlement, especially in regions where traditional banking remains slow or fragmented. #Stablecoins

Stablecoin Transaction Volume Tops $10 Trillion as USDC Dominates January

Stablecoin usage reached a new milestone in January, with total onchain transaction volume surpassing $10 trillion, according to data from Artemis.

Key takeaways
Total stablecoin transaction volume exceeded $10 trillion in JanuaryUSDC alone processed over $8.4 trillion, representing the majority of activityStablecoin usage continues to scale far beyond most traditional payment railsOnchain dollar settlement is increasingly concentrated around USDC
The data shows that USD Coin (USDC) accounted for the overwhelming majority of that activity, processing more than $8.4 trillion in transactions during the month, underscoring its dominant role in global digital dollar settlement.

USDC’s Growing Share of Onchain Dollar Flows
The Artemis data highlights a clear trend: USDC has become the primary settlement layer for onchain dollar transactions. While multiple stablecoins contribute to overall volume, USDC’s share stands out sharply, dwarfing competing tokens across the month.
This dominance reflects USDC’s deep integration across centralized exchanges, decentralized finance protocols, and institutional payment flows. Its consistent usage across multiple blockchains has made it the preferred medium for high-frequency, high-value transfers, particularly as regulatory scrutiny around stablecoins continues to intensify.
Why the $10 Trillion Figure Matters
Crossing $10 trillion in monthly transaction volume places stablecoins in a league comparable to - and in some contexts exceeding - traditional global payment networks. Unlike card or bank rails, these transfers settle near-instantly, around the clock, and across borders, with full onchain transparency.
As noted by Circle CEO Jeremy Allaire, the data underscores how stablecoins are no longer a niche crypto tool, but a core piece of global financial infrastructure, increasingly used for trading, remittances, treasury management, and onchain commerce.
The Bigger Picture
The concentration of activity in USDC suggests the stablecoin market is entering a scale-and-trust phase, where liquidity, compliance, and network effects matter more than sheer token count. If current trends persist, stablecoins - and USDC in particular - may continue absorbing a growing share of global transaction settlement, especially in regions where traditional banking remains slow or fragmented.
#Stablecoins
Hyperliquid Opens Infrastructure to Prediction MarketsHyperliquid is expanding beyond perpetuals into prediction markets, announcing plans to enable outcome-based trading through its HIP-4 upgrade. Key takeaways Hyperliquid plans to launch prediction-market outcome trading via the HIP-4 upgradeThird-party developers will be able to deploy markets directly on HyperliquidThe news triggered a strong market reaction, with HYPE rallying sharplyThe upgrade positions Hyperliquid as a potential competitor to onchain prediction platforms The move allows third-party builders to deploy prediction markets directly on Hyperliquid’s infrastructure, signaling a strategic push to turn the protocol into a broader onchain trading venue rather than a single-product exchange. HIP-4 Opens the Door to Outcome Trading The HIP-4 upgrade is designed to support outcome-based markets, enabling users to trade on the probability of real-world events directly on Hyperliquid’s high-performance infrastructure. By opening the system to external builders, Hyperliquid is effectively creating a framework where prediction markets can be launched permissionlessly, while still benefiting from the protocol’s deep liquidity and low-latency execution. This marks a notable evolution for Hyperliquid, which has built its reputation primarily around onchain perpetual futures. Outcome trading introduces a new product vertical that could attract a different class of users, including those focused on macro events, politics, or crypto-native governance outcomes. Market Reaction and Token Performance The market responded decisively to the announcement. HYPE surged into the mid-$30s, trading around $36.79, with gains approaching +18% on the day. Hyperliquid’s market capitalization climbed to roughly $11.1 billion, while 24-hour trading volume exceeded $1 billion, reflecting strong speculative interest following the upgrade news. The price action suggests traders are pricing in the potential for higher protocol usage and fee generation if prediction markets gain traction on Hyperliquid. Why This Matters Prediction markets are increasingly viewed as one of the most compelling use cases for onchain finance. By integrating outcome trading directly into its ecosystem, Hyperliquid is positioning itself at the intersection of derivatives, information markets, and decentralized infrastructure. If successful, HIP-4 could transform Hyperliquid from a derivatives-focused protocol into a multi-product onchain trading hub, expanding its relevance beyond crypto-native traders and into broader event-driven markets. #Hyperliquid

Hyperliquid Opens Infrastructure to Prediction Markets

Hyperliquid is expanding beyond perpetuals into prediction markets, announcing plans to enable outcome-based trading through its HIP-4 upgrade.

Key takeaways
Hyperliquid plans to launch prediction-market outcome trading via the HIP-4 upgradeThird-party developers will be able to deploy markets directly on HyperliquidThe news triggered a strong market reaction, with HYPE rallying sharplyThe upgrade positions Hyperliquid as a potential competitor to onchain prediction platforms
The move allows third-party builders to deploy prediction markets directly on Hyperliquid’s infrastructure, signaling a strategic push to turn the protocol into a broader onchain trading venue rather than a single-product exchange.
HIP-4 Opens the Door to Outcome Trading
The HIP-4 upgrade is designed to support outcome-based markets, enabling users to trade on the probability of real-world events directly on Hyperliquid’s high-performance infrastructure. By opening the system to external builders, Hyperliquid is effectively creating a framework where prediction markets can be launched permissionlessly, while still benefiting from the protocol’s deep liquidity and low-latency execution.

This marks a notable evolution for Hyperliquid, which has built its reputation primarily around onchain perpetual futures. Outcome trading introduces a new product vertical that could attract a different class of users, including those focused on macro events, politics, or crypto-native governance outcomes.
Market Reaction and Token Performance
The market responded decisively to the announcement. HYPE surged into the mid-$30s, trading around $36.79, with gains approaching +18% on the day. Hyperliquid’s market capitalization climbed to roughly $11.1 billion, while 24-hour trading volume exceeded $1 billion, reflecting strong speculative interest following the upgrade news.
The price action suggests traders are pricing in the potential for higher protocol usage and fee generation if prediction markets gain traction on Hyperliquid.
Why This Matters
Prediction markets are increasingly viewed as one of the most compelling use cases for onchain finance. By integrating outcome trading directly into its ecosystem, Hyperliquid is positioning itself at the intersection of derivatives, information markets, and decentralized infrastructure.
If successful, HIP-4 could transform Hyperliquid from a derivatives-focused protocol into a multi-product onchain trading hub, expanding its relevance beyond crypto-native traders and into broader event-driven markets.
#Hyperliquid
UK’s Top Corporate Bitcoin Holder Doubles Down Despite $100M DrawdownBritain’s biggest corporate Bitcoin bet is under heavy pressure, but its chief executive says the plan is unchanged. Key Takeaways Smarter Web Company is still buying Bitcoin despite a near $100 million unrealized loss.Shares have collapsed, but management plans to raise capital via a London Stock Exchange move to keep accumulating. Andrew Webley, who leads Smarter Web Company, signaled that the firm will keep buying Bitcoin even after a sharp drawdown erased close to $100 million from the value of its holdings over the past three months. Speaking to reporters, Webley played down the recent sell-off, arguing that short-term price swings do not alter the company’s long-term strategy. The numbers, however, are unforgiving. Smarter Web Company currently holds 2,674 BTC, accumulated at an average cost of roughly $111,000 per coin. With Bitcoin trading near the mid-$70,000 range, the position is sitting on an unrealized loss of about one-third of its original value. The decline followed broader market turbulence, intensified by shifting expectations around US monetary policy after the nomination of Kevin Warsh as Federal Reserve chair. Shareholders have felt the impact even more sharply. After branding itself as a UK-listed proxy for Bitcoin exposure, the company’s valuation once surged past the £1 billion mark on the Aquis exchange. Since then, the stock has fallen around 95%, significantly cutting the value of Webley’s personal stake. Despite that setback, management is leaning into expansion rather than retreat. The company is preparing to move its listing to the main market of the London Stock Exchange, a step Webley believes will open the door to larger pools of institutional capital. Any fresh funding, he suggests, would be directed toward further Bitcoin purchases, with the aim of lowering the firm’s average entry price. Webley also pointed to progress already made during the downturn. Since the market peak last summer, Smarter Web Company has doubled its Bitcoin holdings and increased the amount of BTC owned per share by about 50%. For the CEO, the message is clear: volatility may punish the balance sheet in the short run, but conviction, not price, continues to drive the strategy. #BTC

UK’s Top Corporate Bitcoin Holder Doubles Down Despite $100M Drawdown

Britain’s biggest corporate Bitcoin bet is under heavy pressure, but its chief executive says the plan is unchanged.

Key Takeaways
Smarter Web Company is still buying Bitcoin despite a near $100 million unrealized loss.Shares have collapsed, but management plans to raise capital via a London Stock Exchange move to keep accumulating.
Andrew Webley, who leads Smarter Web Company, signaled that the firm will keep buying Bitcoin even after a sharp drawdown erased close to $100 million from the value of its holdings over the past three months. Speaking to reporters, Webley played down the recent sell-off, arguing that short-term price swings do not alter the company’s long-term strategy.
The numbers, however, are unforgiving. Smarter Web Company currently holds 2,674 BTC, accumulated at an average cost of roughly $111,000 per coin. With Bitcoin trading near the mid-$70,000 range, the position is sitting on an unrealized loss of about one-third of its original value.
The decline followed broader market turbulence, intensified by shifting expectations around US monetary policy after the nomination of Kevin Warsh as Federal Reserve chair.
Shareholders have felt the impact even more sharply. After branding itself as a UK-listed proxy for Bitcoin exposure, the company’s valuation once surged past the £1 billion mark on the Aquis exchange. Since then, the stock has fallen around 95%, significantly cutting the value of Webley’s personal stake.
Despite that setback, management is leaning into expansion rather than retreat. The company is preparing to move its listing to the main market of the London Stock Exchange, a step Webley believes will open the door to larger pools of institutional capital. Any fresh funding, he suggests, would be directed toward further Bitcoin purchases, with the aim of lowering the firm’s average entry price.
Webley also pointed to progress already made during the downturn. Since the market peak last summer, Smarter Web Company has doubled its Bitcoin holdings and increased the amount of BTC owned per share by about 50%. For the CEO, the message is clear: volatility may punish the balance sheet in the short run, but conviction, not price, continues to drive the strategy.
#BTC
Bitcoin ETFs Lead Inflows as Crypto Fund Flows Turn SelectiveCrypto exchange-traded funds showed a mixed but telling pattern on February 2, with investors rotating capital selectively rather than exiting the asset class outright. Key takeaways: Bitcoin spot ETFs recorded strong net inflows, signaling renewed institutional demandEthereum ETFs saw slight net outflows despite a notable price reboundSolana ETFs continued to attract modest but consistent inflowsXRP ETF flows remained volatile, with small net outflows Bitcoin ETFs recorded strong inflows, while Ethereum and XRP products saw marginal net outflows. Solana ETFs remained modestly positive, reflecting continued niche demand. Crypto exchange-traded funds showed a mixed but telling pattern on February 2, with investors rotating capital selectively rather than exiting the asset class outright. Bitcoin ETFs See Strong Rebound in Inflows Bitcoin spot ETFs recorded net inflows of $561.8 million on February 2, marking one of the strongest single-day additions since mid-January. Inflows were broad-based, led by BlackRock’s IBIT, Fidelity’s FBTC, Bitwise’s BITB, and ARK’s ARKB, signaling renewed institutional demand after a prolonged stretch of redemptions. Bitcoin was trading around $78,638.79, up approximately 2.86% over the past 24 hours, reinforcing the view that ETF inflows are once again aligning with positive spot-price momentum after recent volatility. Ethereum ETFs Remain Under Pressure Despite Price Gains Ethereum ETFs posted a small net outflow of $2.9 million, reflecting continued hesitation among institutional allocators. While some products saw limited inflows, they were offset by redemptions elsewhere, keeping total flows slightly negative on the day. Despite the ETF outflows, Ethereum’s spot price showed relative strength. ETH was trading near $2,320.52, up about 4.20% over the past 24 hours, suggesting that short-term price action is being driven more by spot market demand than ETF positioning. Solana ETFs Maintain Modest Positive Momentum Solana ETFs recorded net inflows of $5.5 million, continuing a pattern of steady but measured accumulation. Flows were spread across several issuers, reflecting sustained interest in Solana-based products despite broader market uncertainty. Solana was trading at approximately $104.13, up around 2.99% over the past 24 hours, keeping pace with the broader market rebound while ETF inflows suggest incremental institutional participation rather than speculative surges. XRP ETFs See Net Outflows as Flows Remain Volatile XRP spot ETFs posted net outflows of roughly $404,690, driven primarily by redemptions from one product that outweighed inflows elsewhere. The relatively small size of the outflow underscores the still-developing nature of XRP ETF markets rather than a decisive shift in sentiment. XRP was trading near $1.61, up approximately 1.83% over the past 24 hours, indicating that price action remained resilient even as ETF flows tilted modestly negative. Market Takeaway The February 2 ETF data highlights a rotation rather than a retreat. Bitcoin remains the primary beneficiary of institutional capital, while Ethereum ETFs continue to lag despite improving price performance. Solana shows consistent, low-volatility accumulation, and XRP ETF flows remain choppy as the market searches for equilibrium. #BitcoinETFs

Bitcoin ETFs Lead Inflows as Crypto Fund Flows Turn Selective

Crypto exchange-traded funds showed a mixed but telling pattern on February 2, with investors rotating capital selectively rather than exiting the asset class outright.

Key takeaways:
Bitcoin spot ETFs recorded strong net inflows, signaling renewed institutional demandEthereum ETFs saw slight net outflows despite a notable price reboundSolana ETFs continued to attract modest but consistent inflowsXRP ETF flows remained volatile, with small net outflows
Bitcoin ETFs recorded strong inflows, while Ethereum and XRP products saw marginal net outflows. Solana ETFs remained modestly positive, reflecting continued niche demand.
Crypto exchange-traded funds showed a mixed but telling pattern on February 2, with investors rotating capital selectively rather than exiting the asset class outright.
Bitcoin ETFs See Strong Rebound in Inflows
Bitcoin spot ETFs recorded net inflows of $561.8 million on February 2, marking one of the strongest single-day additions since mid-January. Inflows were broad-based, led by BlackRock’s IBIT, Fidelity’s FBTC, Bitwise’s BITB, and ARK’s ARKB, signaling renewed institutional demand after a prolonged stretch of redemptions.
Bitcoin was trading around $78,638.79, up approximately 2.86% over the past 24 hours, reinforcing the view that ETF inflows are once again aligning with positive spot-price momentum after recent volatility.
Ethereum ETFs Remain Under Pressure Despite Price Gains
Ethereum ETFs posted a small net outflow of $2.9 million, reflecting continued hesitation among institutional allocators. While some products saw limited inflows, they were offset by redemptions elsewhere, keeping total flows slightly negative on the day.
Despite the ETF outflows, Ethereum’s spot price showed relative strength. ETH was trading near $2,320.52, up about 4.20% over the past 24 hours, suggesting that short-term price action is being driven more by spot market demand than ETF positioning.
Solana ETFs Maintain Modest Positive Momentum
Solana ETFs recorded net inflows of $5.5 million, continuing a pattern of steady but measured accumulation. Flows were spread across several issuers, reflecting sustained interest in Solana-based products despite broader market uncertainty.
Solana was trading at approximately $104.13, up around 2.99% over the past 24 hours, keeping pace with the broader market rebound while ETF inflows suggest incremental institutional participation rather than speculative surges.
XRP ETFs See Net Outflows as Flows Remain Volatile
XRP spot ETFs posted net outflows of roughly $404,690, driven primarily by redemptions from one product that outweighed inflows elsewhere. The relatively small size of the outflow underscores the still-developing nature of XRP ETF markets rather than a decisive shift in sentiment.
XRP was trading near $1.61, up approximately 1.83% over the past 24 hours, indicating that price action remained resilient even as ETF flows tilted modestly negative.
Market Takeaway
The February 2 ETF data highlights a rotation rather than a retreat. Bitcoin remains the primary beneficiary of institutional capital, while Ethereum ETFs continue to lag despite improving price performance. Solana shows consistent, low-volatility accumulation, and XRP ETF flows remain choppy as the market searches for equilibrium.
#BitcoinETFs
ING Expands Crypto Access as German Clients Gain Bitcoin ETP ExposureING has begun allowing retail clients in Germany to invest in Bitcoin exchange-traded products, marking a notable expansion of crypto access through one of the country’s largest retail banking platforms. Key takeaways: ING now allows German retail clients to buy Bitcoin ETPsThe offering is available through ING’s securities trading platformProducts are issued by Bitwise EuropeThe move lowers the barrier to regulated Bitcoin exposure for retail investors The rollout enables ING customers to gain exposure to Bitcoin via regulated crypto ETPs without directly holding the underlying asset. The products are offered through Bitwise Europe and are integrated into ING’s existing securities trading infrastructure, allowing investors to access crypto exposure alongside traditional financial instruments. Regulated Bitcoin Access Moves Further Into European Retail Banking By offering Bitcoin ETPs, ING provides clients with a familiar and regulated route into crypto markets, avoiding the need for external exchanges, self-custody, or standalone crypto platforms. The ETP structure allows investors to gain price exposure to Bitcoin while benefiting from the oversight, reporting standards, and investor protections associated with regulated securities. The move reflects a broader trend among European financial institutions, where banks and brokerages are increasingly integrating crypto-linked products into traditional investment accounts. Germany, in particular, has emerged as one of the most developed European markets for crypto ETPs, with products traded on regulated venues such as Xetra and governed by established financial rules. Industry participants view ING’s decision as a meaningful step toward mainstream adoption, given the bank’s large retail footprint in Germany. Access through a major banking platform significantly expands the potential investor base compared with crypto-native platforms, especially among clients seeking regulated exposure rather than direct asset ownership. The launch comes amid growing institutionalization of crypto markets in Europe, where regulatory clarity has encouraged banks to cautiously expand offerings tied to digital assets. While limited to ETPs rather than spot crypto trading, the move underscores a continued shift toward integrating Bitcoin exposure into traditional financial systems. #crypto

ING Expands Crypto Access as German Clients Gain Bitcoin ETP Exposure

ING has begun allowing retail clients in Germany to invest in Bitcoin exchange-traded products, marking a notable expansion of crypto access through one of the country’s largest retail banking platforms.

Key takeaways:
ING now allows German retail clients to buy Bitcoin ETPsThe offering is available through ING’s securities trading platformProducts are issued by Bitwise EuropeThe move lowers the barrier to regulated Bitcoin exposure for retail investors
The rollout enables ING customers to gain exposure to Bitcoin via regulated crypto ETPs without directly holding the underlying asset. The products are offered through Bitwise Europe and are integrated into ING’s existing securities trading infrastructure, allowing investors to access crypto exposure alongside traditional financial instruments.

Regulated Bitcoin Access Moves Further Into European Retail Banking
By offering Bitcoin ETPs, ING provides clients with a familiar and regulated route into crypto markets, avoiding the need for external exchanges, self-custody, or standalone crypto platforms. The ETP structure allows investors to gain price exposure to Bitcoin while benefiting from the oversight, reporting standards, and investor protections associated with regulated securities.
The move reflects a broader trend among European financial institutions, where banks and brokerages are increasingly integrating crypto-linked products into traditional investment accounts. Germany, in particular, has emerged as one of the most developed European markets for crypto ETPs, with products traded on regulated venues such as Xetra and governed by established financial rules.
Industry participants view ING’s decision as a meaningful step toward mainstream adoption, given the bank’s large retail footprint in Germany. Access through a major banking platform significantly expands the potential investor base compared with crypto-native platforms, especially among clients seeking regulated exposure rather than direct asset ownership.
The launch comes amid growing institutionalization of crypto markets in Europe, where regulatory clarity has encouraged banks to cautiously expand offerings tied to digital assets. While limited to ETPs rather than spot crypto trading, the move underscores a continued shift toward integrating Bitcoin exposure into traditional financial systems.
#crypto
Bitcoin Breaks From Liquidity Narrative as Markets Target Weak PointsThe idea that Bitcoin consistently tracks global M2 money supply is widely cited in macro and crypto circles. While long-term correlations exist, recent market action highlights the limits of this framework. Key Takeaways Bitcoin often sells off during liquidity stress, even when M2 is rising.Markets target leverage and concentration, not narratives.When buying pressure breaks, price adjusts fast. In periods of stress, Bitcoin often behaves less like a liquidity beneficiary and more like a source of liquidity. With a market capitalization near $1.6 trillion, Bitcoin remains small relative to traditional assets. Over recent sessions, gold shed an estimated $5 trillion in market value, while silver erased roughly $2 trillion in a single day. These moves underscore a key reality: when liquidity is needed, markets sell what is liquid and easily priced. Bitcoin frequently falls into that category. This helps explain the divergence visible in Bitcoin-versus-global-M2 charts. Rising liquidity does not prevent drawdowns when leverage unwinds or forced selling dominates short-term flows. Concentration Is Where the Market Pushes Across cycles, markets tend to pressure-test the same vulnerability. A dominant buyer, strategy, or structure absorbs supply, provides liquidity, and drives prices higher. As long as that flow continues, price action appears stable. Once buying weakens, the system is tested. This process is mechanical. When price stability depends on continuous capital deployment from a narrow source, markets gravitate toward levels where forced decisions occur. Confidence and narrative matter far less than position size, leverage, and concentration. Repeated Failures, Same Structure The collapses of Terra/LUNA and FTX followed this pattern in different forms. Both relied on the assumption that liquidity would always be available. When that assumption was tested - through peg instability in Terra’s case and accelerating withdrawals at FTX - confidence gave way to forced selling, and the unwind accelerated rapidly. Similar dynamics have appeared in Ethereum during periods of heavy accumulation by large participants. Sustained buying created the appearance of broad demand. Once prices turned and additional capital was required to maintain exposure, price adjusted sharply as that buying power faded. Recent Moves Reflect the Same Dynamic Recent high-profile leveraged positions in crypto derivatives markets show how visible structural weakness has become. When liquidation levels and forced-selling zones are clear, price action often moves directly toward them. These moves are not driven by sentiment, but by market participants responding to transparent imbalances. What the Market Is Really Testing These episodes are not primarily about individuals or predictions. They reflect how markets evaluate structure. When price depends on a small number of participants staying active or on uninterrupted capital inflows, that dependence becomes a focal point of risk. Bitcoin’s relationship with liquidity fits this pattern. While global liquidity trends influence long-term valuation, short-term price action is frequently shaped by leverage, deleveraging, and cash needs. The breakdown in correlation with M2 during stress periods is not a failure of the model, but evidence of how price discovery works when structural pressure takes over. Across cycles and asset classes, the outcome is consistent: markets eventually test concentration, leverage, and dependence, regardless of the prevailing narrative. #BTC

Bitcoin Breaks From Liquidity Narrative as Markets Target Weak Points

The idea that Bitcoin consistently tracks global M2 money supply is widely cited in macro and crypto circles. While long-term correlations exist, recent market action highlights the limits of this framework.

Key Takeaways
Bitcoin often sells off during liquidity stress, even when M2 is rising.Markets target leverage and concentration, not narratives.When buying pressure breaks, price adjusts fast.
In periods of stress, Bitcoin often behaves less like a liquidity beneficiary and more like a source of liquidity.
With a market capitalization near $1.6 trillion, Bitcoin remains small relative to traditional assets. Over recent sessions, gold shed an estimated $5 trillion in market value, while silver erased roughly $2 trillion in a single day. These moves underscore a key reality: when liquidity is needed, markets sell what is liquid and easily priced. Bitcoin frequently falls into that category.
This helps explain the divergence visible in Bitcoin-versus-global-M2 charts. Rising liquidity does not prevent drawdowns when leverage unwinds or forced selling dominates short-term flows.

Concentration Is Where the Market Pushes
Across cycles, markets tend to pressure-test the same vulnerability. A dominant buyer, strategy, or structure absorbs supply, provides liquidity, and drives prices higher. As long as that flow continues, price action appears stable. Once buying weakens, the system is tested.
This process is mechanical. When price stability depends on continuous capital deployment from a narrow source, markets gravitate toward levels where forced decisions occur. Confidence and narrative matter far less than position size, leverage, and concentration.
Repeated Failures, Same Structure
The collapses of Terra/LUNA and FTX followed this pattern in different forms. Both relied on the assumption that liquidity would always be available. When that assumption was tested - through peg instability in Terra’s case and accelerating withdrawals at FTX - confidence gave way to forced selling, and the unwind accelerated rapidly.
Similar dynamics have appeared in Ethereum during periods of heavy accumulation by large participants. Sustained buying created the appearance of broad demand. Once prices turned and additional capital was required to maintain exposure, price adjusted sharply as that buying power faded.
Recent Moves Reflect the Same Dynamic
Recent high-profile leveraged positions in crypto derivatives markets show how visible structural weakness has become. When liquidation levels and forced-selling zones are clear, price action often moves directly toward them. These moves are not driven by sentiment, but by market participants responding to transparent imbalances.
What the Market Is Really Testing
These episodes are not primarily about individuals or predictions. They reflect how markets evaluate structure. When price depends on a small number of participants staying active or on uninterrupted capital inflows, that dependence becomes a focal point of risk.
Bitcoin’s relationship with liquidity fits this pattern. While global liquidity trends influence long-term valuation, short-term price action is frequently shaped by leverage, deleveraging, and cash needs. The breakdown in correlation with M2 during stress periods is not a failure of the model, but evidence of how price discovery works when structural pressure takes over.
Across cycles and asset classes, the outcome is consistent: markets eventually test concentration, leverage, and dependence, regardless of the prevailing narrative.
#BTC
BitMine Discloses Growing Unrealized Losses Despite Rising ETH HoldingsBitMine Immersion Technologies has disclosed that its unrealized losses on Ethereum holdings have expanded sharply, even as the company confirmed that its total ETH position has grown to 4.285 million tokens. Key takeaways: BitMine’s unrealized losses on Ethereum have reached approximately $6.6 billionThe loss would rank among the largest principal trading losses if realizedEthereum holdings now total 4.285 million tokensCombined crypto and cash holdings stand at roughly $10.7 billion According to figures highlighted by market analysts, BitMine’s unrealized losses on its Ethereum exposure have climbed to around $6.6 billion. If realized, the drawdown would place the company on track to record the fifth-largest documented principal trading loss in history. The scale of the decline is estimated at roughly sixty-six percent of the losses recorded during the 2021 collapse of Archegos Capital Management, which remains the largest such loss on record. Portfolio data shows that BitMine’s total invested capital amounts to approximately $15.65 billion, while the current value of its holdings has fallen to about $9.04 billion. This represents an unrealized drawdown of more than forty-two percent. No realized profits or losses have been reported, indicating that the company has not liquidated its position despite the sharp deterioration in valuation. Concentrated Ethereum Exposure Amplifies Market Risk The losses coincide with sustained weakness in the Ethereum market. Ethereum was trading near $2,317 at the time of the disclosure, remaining significantly lower on a multi-week basis despite modest short-term gains. The prolonged downturn has placed increasing pressure on firms with large, concentrated exposure to the asset. Despite the scale of the unrealized losses, BitMine confirmed that its Ethereum holdings have continued to increase, underscoring an accumulation-focused strategy rather than a move toward risk reduction. The company also reported total crypto and cash holdings of approximately $10.7 billion, providing some balance-sheet support amid ongoing market volatility. Market participants note that the situation highlights the risks inherent in high-conviction, single-asset strategies during extended drawdowns. While the losses remain unrealized, their magnitude has drawn comparisons to historic trading failures and renewed scrutiny of risk concentration among large digital asset holders. For now, BitMine’s position reflects a long-term bet on Ethereum’s recovery potential, even as near-term market conditions continue to test the resilience of that strategy. #Bitmine

BitMine Discloses Growing Unrealized Losses Despite Rising ETH Holdings

BitMine Immersion Technologies has disclosed that its unrealized losses on Ethereum holdings have expanded sharply, even as the company confirmed that its total ETH position has grown to 4.285 million tokens.

Key takeaways:
BitMine’s unrealized losses on Ethereum have reached approximately $6.6 billionThe loss would rank among the largest principal trading losses if realizedEthereum holdings now total 4.285 million tokensCombined crypto and cash holdings stand at roughly $10.7 billion
According to figures highlighted by market analysts, BitMine’s unrealized losses on its Ethereum exposure have climbed to around $6.6 billion.

If realized, the drawdown would place the company on track to record the fifth-largest documented principal trading loss in history. The scale of the decline is estimated at roughly sixty-six percent of the losses recorded during the 2021 collapse of Archegos Capital Management, which remains the largest such loss on record.
Portfolio data shows that BitMine’s total invested capital amounts to approximately $15.65 billion, while the current value of its holdings has fallen to about $9.04 billion. This represents an unrealized drawdown of more than forty-two percent. No realized profits or losses have been reported, indicating that the company has not liquidated its position despite the sharp deterioration in valuation.
Concentrated Ethereum Exposure Amplifies Market Risk
The losses coincide with sustained weakness in the Ethereum market. Ethereum was trading near $2,317 at the time of the disclosure, remaining significantly lower on a multi-week basis despite modest short-term gains. The prolonged downturn has placed increasing pressure on firms with large, concentrated exposure to the asset.
Despite the scale of the unrealized losses, BitMine confirmed that its Ethereum holdings have continued to increase, underscoring an accumulation-focused strategy rather than a move toward risk reduction. The company also reported total crypto and cash holdings of approximately $10.7 billion, providing some balance-sheet support amid ongoing market volatility.
Market participants note that the situation highlights the risks inherent in high-conviction, single-asset strategies during extended drawdowns. While the losses remain unrealized, their magnitude has drawn comparisons to historic trading failures and renewed scrutiny of risk concentration among large digital asset holders.
For now, BitMine’s position reflects a long-term bet on Ethereum’s recovery potential, even as near-term market conditions continue to test the resilience of that strategy.
#Bitmine
Here Is Why Bitcoin Is Crashing - And Why This Expert Sees a Bullish 2026Bitcoin’s sharp sell-off and the broader drawdown across risk assets have fueled fears that the crypto cycle is broken. Key Takeaways The sell-off in Bitcoin and other risk assets is being driven by a temporary US liquidity squeeze, not a broken crypto cycle, according to Raoul Pal.Bitcoin is trading around $78,000 after losing $80,000 support, with heavy ETF outflows adding to pressure.Pal remains strongly bullish on 2026, expecting a liquidity rebound to fuel the next major rally.  But according to Raoul Pal, the real culprit is not fading demand or structural damage to crypto markets – it is a temporary collapse in US liquidity, one that could soon reverse and set the stage for a powerful 2026 rally. In a detailed post shared on X, Pal argued that the current panic reflects a false narrative taking hold during a brutal liquidity squeeze, rather than a true breakdown of the crypto cycle. Bitcoin Breaks $80,000 as Liquidity Tightens Bitcoin is currently trading around $78,000 after failing to hold the key $80,000 support level over the weekend. The move lower coincided with heavy selling pressure across digital assets and traditional markets alike. According to datafrom Farside Investors, US-listed spot Bitcoin ETFs recorded roughly $1.5 billion in net outflows last week, reinforcing the risk-off tone. The weakness has not been isolated to crypto. Gold, which had surged earlier in the year, has fallen by roughly $1,000 from its peak near $5,600 and is now trading around $4,775. Silver has seen an even sharper pullback, dropping from highs above $120 to around $84 at the time of writing. US equities and high-growth technology stocks have also struggled, pointing to a broader liquidity-driven reset. Why Bitcoin and SaaS Stocks Are Falling Together Pal highlighted a striking similarity between Bitcoin and US software-as-a-service stocks, noting that both have traced almost identical price patterns. In his view, this is not a coincidence. These assets represent some of the longest-duration trades in global markets and are therefore the most sensitive to changes in liquidity. He explained that US liquidity has been constrained by a rare combination of factors: the near-complete drain of the Fed’s reverse repo facility in 2024, a Treasury General Account rebuild over the summer without offsetting liquidity injections, and repeated US government shutdowns. With no meaningful liquidity offset, capital has been pulled from riskier assets first. At the same time, the strong rally in gold absorbed much of the reemaining marginal liquidity in the system. With insufficient liquidity to support everything at once, assets like Bitcoin and SaaS stocks bore the brunt of the adjustment. The Shutdown Effect and the “Air Pocket” in Markets According to Pal, the latest US government shutdown has intensified the problem. The Treasury has avoided drawing down the TGA and instead added to it, creating an additional liquidity drain. This has produced what he described as an “air pocket” for markets, marked by aggressive price declines and heightened volatility. However, Pal believes this phase is close to ending. He expects the shutdown to be resolved soon, removing what he sees as the final major liquidity hurdle before conditions begin to improve. Why Pal Is Bullish on 2026 Looking ahead, Pal remains firmly bullish on the medium-term outlook. He expects a significant liquidity upswing driven by several forces, including partial TGA drawdowns, changes to bank leverage rules such as the eSLR, fiscal stimulus, and eventual rate cuts. In his view, these dynamics are closely tied to the political and economic strategy heading into the US midterm cycle. Pal also dismissed the idea that future Fed leadership would block this process. He argued that the prevailing narrative portraying Kevin Warsh as a hawkish figure is outdated and misleading, and that the broader policy direction points toward easier financial conditions rather than tighter ones. Patience Over Panic Pal acknowledged that the drawdown has been painful, particularly for smaller and higher-beta crypto assets, which historically fall far more than Bitcoin during liquidity shocks. Still, he stressed that such phases are common within full market cycles. While prices can decline sharply, time – not short-term price action – ultimately resolves these dislocations as liquidity returns. His message to investors was blunt: the market is not broken, the cycle is not over, and the current stress reflects a temporary liquidity vacuum rather than a structural failure. If history rhymes, Pal believes the conditions being set today could pave the way for what he called a “fucking epic” 2026. #BTC

Here Is Why Bitcoin Is Crashing - And Why This Expert Sees a Bullish 2026

Bitcoin’s sharp sell-off and the broader drawdown across risk assets have fueled fears that the crypto cycle is broken.

Key Takeaways
The sell-off in Bitcoin and other risk assets is being driven by a temporary US liquidity squeeze, not a broken crypto cycle, according to Raoul Pal.Bitcoin is trading around $78,000 after losing $80,000 support, with heavy ETF outflows adding to pressure.Pal remains strongly bullish on 2026, expecting a liquidity rebound to fuel the next major rally. 
But according to Raoul Pal, the real culprit is not fading demand or structural damage to crypto markets – it is a temporary collapse in US liquidity, one that could soon reverse and set the stage for a powerful 2026 rally.
In a detailed post shared on X, Pal argued that the current panic reflects a false narrative taking hold during a brutal liquidity squeeze, rather than a true breakdown of the crypto cycle.
Bitcoin Breaks $80,000 as Liquidity Tightens
Bitcoin is currently trading around $78,000 after failing to hold the key $80,000 support level over the weekend. The move lower coincided with heavy selling pressure across digital assets and traditional markets alike. According to datafrom Farside Investors, US-listed spot Bitcoin ETFs recorded roughly $1.5 billion in net outflows last week, reinforcing the risk-off tone.

The weakness has not been isolated to crypto. Gold, which had surged earlier in the year, has fallen by roughly $1,000 from its peak near $5,600 and is now trading around $4,775. Silver has seen an even sharper pullback, dropping from highs above $120 to around $84 at the time of writing. US equities and high-growth technology stocks have also struggled, pointing to a broader liquidity-driven reset.
Why Bitcoin and SaaS Stocks Are Falling Together
Pal highlighted a striking similarity between Bitcoin and US software-as-a-service stocks, noting that both have traced almost identical price patterns. In his view, this is not a coincidence. These assets represent some of the longest-duration trades in global markets and are therefore the most sensitive to changes in liquidity.
He explained that US liquidity has been constrained by a rare combination of factors: the near-complete drain of the Fed’s reverse repo facility in 2024, a Treasury General Account rebuild over the summer without offsetting liquidity injections, and repeated US government shutdowns. With no meaningful liquidity offset, capital has been pulled from riskier assets first.

At the same time, the strong rally in gold absorbed much of the reemaining marginal liquidity in the system. With insufficient liquidity to support everything at once, assets like Bitcoin and SaaS stocks bore the brunt of the adjustment.
The Shutdown Effect and the “Air Pocket” in Markets
According to Pal, the latest US government shutdown has intensified the problem. The Treasury has avoided drawing down the TGA and instead added to it, creating an additional liquidity drain. This has produced what he described as an “air pocket” for markets, marked by aggressive price declines and heightened volatility.
However, Pal believes this phase is close to ending. He expects the shutdown to be resolved soon, removing what he sees as the final major liquidity hurdle before conditions begin to improve.
Why Pal Is Bullish on 2026
Looking ahead, Pal remains firmly bullish on the medium-term outlook. He expects a significant liquidity upswing driven by several forces, including partial TGA drawdowns, changes to bank leverage rules such as the eSLR, fiscal stimulus, and eventual rate cuts. In his view, these dynamics are closely tied to the political and economic strategy heading into the US midterm cycle.
Pal also dismissed the idea that future Fed leadership would block this process. He argued that the prevailing narrative portraying Kevin Warsh as a hawkish figure is outdated and misleading, and that the broader policy direction points toward easier financial conditions rather than tighter ones.
Patience Over Panic
Pal acknowledged that the drawdown has been painful, particularly for smaller and higher-beta crypto assets, which historically fall far more than Bitcoin during liquidity shocks. Still, he stressed that such phases are common within full market cycles. While prices can decline sharply, time – not short-term price action – ultimately resolves these dislocations as liquidity returns.
His message to investors was blunt: the market is not broken, the cycle is not over, and the current stress reflects a temporary liquidity vacuum rather than a structural failure. If history rhymes, Pal believes the conditions being set today could pave the way for what he called a “fucking epic” 2026.
#BTC
Smart Money Stays on Ethereum Despite Major ETH Sell-OffEthereum’s network fundamentals are quietly strengthening, even as price action remains under pressure. Key Takeaways Ethereum is increasing its dominance in stablecoins, gaining market share in both supply and active addresses.ETH price remains weak in the short term, trading near $2,300 and more than 50% below its all-time high.Looking toward 2026, historical cycle patterns suggest Ethereum could see a strong recovery once broader market conditions stabilize. New data shows that the Ethereum blockchain has increased its share of global stablecoin supply by 5.1% since 2023, while active stablecoin addresses on the network are up 3.7% over the same period. The shift highlights where capital is choosing to settle, not just where transactions are cheapest. By contrast, TRON has lost double-digit market share in both stablecoin supply and user activity. While low-fee chains continue to attract wallet growth, the data suggests that deeper liquidity, security, and institutional trust still anchor capital on Ethereum. At the time of writing, Ethereum is trading near $2,300, down 11.3% over the past week. The network carries a market capitalization of roughly $278 billion, with 24-hour trading volume around $55.6 billion. Despite these figures, ETH remains more than 50% below its all-time high near $4,950, underscoring the gap between network growth and market sentiment. Stablecoins Signal Structural Strength The stablecoin data reinforces Ethereum’s role as the settlement layer of crypto markets. While alternative chains capture retail activity through lower fees, large pools of capital continue to concentrate where liquidity is deepest and counterparty risk is perceived to be lowest. This trend has become more visible since 2023, as Ethereum steadily absorbed market share rather than losing it. For long-term observers, the takeaway is clear: usage measured in capital deployed is diverging from usage measured purely by address counts. Ethereum is winning the former battle. Technical Picture: Short-Term Pressure Remains From a technical perspective, ETH is still stabilizing after a sharp correction. On the 4-hour chart, RSI remains below the neutral 50 level, indicating that momentum is weak but no longer deeply oversold. MACD is still negative, though the histogram shows early signs of downside momentum slowing, suggesting selling pressure may be exhausting. In the near term, Ethereum is attempting to build a base above the $2,200-$2,250 region. A sustained move above $2,450 would improve the short-term structure, while a loss of support could reopen downside risk toward previous liquidity zones. A Broader View Into 2026 Macro-oriented analysts are already looking past short-term volatility. According to Michael van de Poppe, Ethereum’s current drawdown mirrors prior cycles where ETH completed its decline well before major macro assets peaked. In previous instances, similar setups were followed by multi-month periods of underperformance before Ethereum began a powerful relative recovery against Bitcoin. Van de Poppe notes that in the last comparable cycle, Ethereum eventually rallied more than 300% against Bitcoin after completing a deep correction phase. With ETH already down roughly 31% from recent highs and significantly below its all-time peak, he argues that much of the downside risk may already be priced in, assuming broader market conditions stabilize. Source: Michael van de Poppe X Conclusion Ethereum is expanding its dominance where it matters most - stablecoin capital and liquidity. Price action remains fragile in the short term, but momentum indicators suggest selling pressure is easing. If historical patterns repeat, 2026 could mark a period where Ethereum’s network growth finally converges with stronger relative price performance. #ETH

Smart Money Stays on Ethereum Despite Major ETH Sell-Off

Ethereum’s network fundamentals are quietly strengthening, even as price action remains under pressure.

Key Takeaways
Ethereum is increasing its dominance in stablecoins, gaining market share in both supply and active addresses.ETH price remains weak in the short term, trading near $2,300 and more than 50% below its all-time high.Looking toward 2026, historical cycle patterns suggest Ethereum could see a strong recovery once broader market conditions stabilize.
New data shows that the Ethereum blockchain has increased its share of global stablecoin supply by 5.1% since 2023, while active stablecoin addresses on the network are up 3.7% over the same period. The shift highlights where capital is choosing to settle, not just where transactions are cheapest.
By contrast, TRON has lost double-digit market share in both stablecoin supply and user activity. While low-fee chains continue to attract wallet growth, the data suggests that deeper liquidity, security, and institutional trust still anchor capital on Ethereum.

At the time of writing, Ethereum is trading near $2,300, down 11.3% over the past week. The network carries a market capitalization of roughly $278 billion, with 24-hour trading volume around $55.6 billion. Despite these figures, ETH remains more than 50% below its all-time high near $4,950, underscoring the gap between network growth and market sentiment.
Stablecoins Signal Structural Strength
The stablecoin data reinforces Ethereum’s role as the settlement layer of crypto markets. While alternative chains capture retail activity through lower fees, large pools of capital continue to concentrate where liquidity is deepest and counterparty risk is perceived to be lowest. This trend has become more visible since 2023, as Ethereum steadily absorbed market share rather than losing it.
For long-term observers, the takeaway is clear: usage measured in capital deployed is diverging from usage measured purely by address counts. Ethereum is winning the former battle.
Technical Picture: Short-Term Pressure Remains
From a technical perspective, ETH is still stabilizing after a sharp correction. On the 4-hour chart, RSI remains below the neutral 50 level, indicating that momentum is weak but no longer deeply oversold. MACD is still negative, though the histogram shows early signs of downside momentum slowing, suggesting selling pressure may be exhausting.
In the near term, Ethereum is attempting to build a base above the $2,200-$2,250 region. A sustained move above $2,450 would improve the short-term structure, while a loss of support could reopen downside risk toward previous liquidity zones.

A Broader View Into 2026
Macro-oriented analysts are already looking past short-term volatility. According to Michael van de Poppe, Ethereum’s current drawdown mirrors prior cycles where ETH completed its decline well before major macro assets peaked.
In previous instances, similar setups were followed by multi-month periods of underperformance before Ethereum began a powerful relative recovery against Bitcoin.
Van de Poppe notes that in the last comparable cycle, Ethereum eventually rallied more than 300% against Bitcoin after completing a deep correction phase. With ETH already down roughly 31% from recent highs and significantly below its all-time peak, he argues that much of the downside risk may already be priced in, assuming broader market conditions stabilize.
Source: Michael van de Poppe X
Conclusion
Ethereum is expanding its dominance where it matters most - stablecoin capital and liquidity. Price action remains fragile in the short term, but momentum indicators suggest selling pressure is easing. If historical patterns repeat, 2026 could mark a period where Ethereum’s network growth finally converges with stronger relative price performance.
#ETH
Ripple Granted Full EU Electronic Money Institution License in LuxembourgRipple has been granted a full Electronic Money Institution license in the European Union through Luxembourg, marking a significant regulatory milestone for the blockchain-based payments firm’s expansion across Europe. Key takeaways: Ripple has secured a full EU Electronic Money Institution license in LuxembourgThe approval follows earlier preliminary authorization from the CSSFThe license allows Ripple to provide regulated electronic money services across the EUThe move strengthens Ripple’s regulatory footing in Europe amid growing compliance focus The announcement was confirmed by Cassie Craddock, Ripple’s managing director for the United Kingdom and Europe, who stated that the company had successfully fulfilled all conditions set by Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier. The approval upgrades Ripple from preliminary authorization to full licensing status, enabling broader operational scope within the European Union. Regulatory Approval Expands Ripple’s European Footprint With the license in place, Ripple is now authorized to issue electronic money and provide compliant financial services across EU member states under the bloc’s regulatory framework. The approval positions the company to scale its blockchain-based payment and settlement infrastructure to European clients while operating under established financial supervision. Ripple has increasingly emphasized regulatory compliance as a cornerstone of its global strategy, particularly in Europe, where digital asset regulations have become more clearly defined. The Luxembourg license complements the company’s broader efforts to align its products with regional regulatory standards and support institutional adoption. Market reaction following the announcement was measured. The XRP token was trading near $1.61 at the time of writing, posting modest intraday gains while remaining lower on a weekly basis amid broader market volatility. XRP’s market capitalization stood near $98 billion, placing it among the largest digital assets by market value. The approval comes at a time when digital asset firms are placing renewed emphasis on regulatory clarity, particularly within the European Union. For Ripple, the full Electronic Money Institution license represents a step toward deeper integration into the region’s financial infrastructure and a stronger foundation for future growth. #Ripple

Ripple Granted Full EU Electronic Money Institution License in Luxembourg

Ripple has been granted a full Electronic Money Institution license in the European Union through Luxembourg, marking a significant regulatory milestone for the blockchain-based payments firm’s expansion across Europe.

Key takeaways:
Ripple has secured a full EU Electronic Money Institution license in LuxembourgThe approval follows earlier preliminary authorization from the CSSFThe license allows Ripple to provide regulated electronic money services across the EUThe move strengthens Ripple’s regulatory footing in Europe amid growing compliance focus
The announcement was confirmed by Cassie Craddock, Ripple’s managing director for the United Kingdom and Europe, who stated that the company had successfully fulfilled all conditions set by Luxembourg’s financial regulator, the Commission de Surveillance du Secteur Financier. The approval upgrades Ripple from preliminary authorization to full licensing status, enabling broader operational scope within the European Union.

Regulatory Approval Expands Ripple’s European Footprint
With the license in place, Ripple is now authorized to issue electronic money and provide compliant financial services across EU member states under the bloc’s regulatory framework. The approval positions the company to scale its blockchain-based payment and settlement infrastructure to European clients while operating under established financial supervision.
Ripple has increasingly emphasized regulatory compliance as a cornerstone of its global strategy, particularly in Europe, where digital asset regulations have become more clearly defined. The Luxembourg license complements the company’s broader efforts to align its products with regional regulatory standards and support institutional adoption.
Market reaction following the announcement was measured. The XRP token was trading near $1.61 at the time of writing, posting modest intraday gains while remaining lower on a weekly basis amid broader market volatility. XRP’s market capitalization stood near $98 billion, placing it among the largest digital assets by market value.
The approval comes at a time when digital asset firms are placing renewed emphasis on regulatory clarity, particularly within the European Union. For Ripple, the full Electronic Money Institution license represents a step toward deeper integration into the region’s financial infrastructure and a stronger foundation for future growth.
#Ripple
Bitcoin and Altcoins Slide as Fear Deepens While Gold and Silver Erase Major GainsCrypto markets extended their pullback on Monday as risk appetite remained fragile across assets, with bitcoin slipping below the $76,000 mark earlier in the session before going back to near $76,800. Key Takeaways Bitcoin dipped below $76,000 before stabilizing near $76,800, with the broader correction still intact.Major altcoins including Ethereum, XRP, and Solana moved lower in tandem, pushing the total crypto market cap to around $2.58 trillion.Weakness extended beyond crypto, as silver and gold declined while the dollar index edged higher. The broader tone stayed cautious, reflected in on-chain sentiment gauges and muted trading behavior across major tokens. Bitcoin drifts lower as sentiment cools Bitcoin’s move under $76,000 marked another soft leg in the ongoing correction. While the price recovered slightly, the weekly decline remains close to 11%, keeping traders focused on whether near-term support levels can hold. Volumes stayed active but lacked the urgency typically seen during sharper selloffs, suggesting a controlled reduction in exposure rather than panic-driven exits. Despite this the general sentiment in the market is currently very bearish. While some analysts maintani optimism for Bitcoin's short-term recovery after a healthy correction, investors are starting to lose confidence in the crypto market. And this doesn't just stop at the crypto market - commodities also took a hit after their incredible surge last week. Altcoins follow the move as market cap slips Major altcoins tracked bitcoin lower, adding pressure to the total crypto market capitalization, which fell to around $2.58 trillion, down roughly 2.6% on the day. Ethereum traded near $2,256, down about 8.4% over the past 24 hours and nearly 19.5% on the week. XRP hovered around $1.59, posting a daily decline just over 3% and a weekly drop of roughly 13%. Solana changed hands near $100, down about 5.4% on the day and close to 16% lower compared with last week. The synchronized move across large-cap tokens underlined the lack of rotation into higher-risk crypto assets. Extreme fear dominates market psychology The Crypto Fear & Greed Index fell to 18, firmly in “extreme fear” territory. Historically, such readings tend to coincide with periods of heightened uncertainty, where investors favor capital preservation and wait for clearer macro or technical signals before re-entering risk positions. Liquidations remain contained Derivatives data from Coinglass showed about $460 million in liquidations over the past 24 hours, with long positions accounting for roughly $350 million and shorts near $110 million. Ethereum and Bitcoin led the unwind, with ETH seeing around $172 million in liquidations and BTC close to $149 million. Smaller but notable liquidations were also recorded in Solana at roughly $22 million and XRP, alongside a broad mix of mid-cap and lower-liquidity tokens. The distribution suggests pressure was spread across the market rather than concentrated in a single asset. Traditional markets add to the cautious tone Outside crypto, precious metals also opened the week under pressure. Silver began trading near $80, down around 5.5%, while gold slipped to about $4,720, a daily decline of roughly 3.6%. At the same time, the U.S. dollar index edged higher by 0.09% to 97.23, adding modest headwinds to both metals and risk assets more broadly. Taken together, the moves suggest a market environment defined less by shock and more by restraint, as investors across asset classes reassess exposure amid mixed macro signals and subdued risk appetite. #crypto

Bitcoin and Altcoins Slide as Fear Deepens While Gold and Silver Erase Major Gains

Crypto markets extended their pullback on Monday as risk appetite remained fragile across assets, with bitcoin slipping below the $76,000 mark earlier in the session before going back to near $76,800.

Key Takeaways
Bitcoin dipped below $76,000 before stabilizing near $76,800, with the broader correction still intact.Major altcoins including Ethereum, XRP, and Solana moved lower in tandem, pushing the total crypto market cap to around $2.58 trillion.Weakness extended beyond crypto, as silver and gold declined while the dollar index edged higher.
The broader tone stayed cautious, reflected in on-chain sentiment gauges and muted trading behavior across major tokens.
Bitcoin drifts lower as sentiment cools
Bitcoin’s move under $76,000 marked another soft leg in the ongoing correction. While the price recovered slightly, the weekly decline remains close to 11%, keeping traders focused on whether near-term support levels can hold. Volumes stayed active but lacked the urgency typically seen during sharper selloffs, suggesting a controlled reduction in exposure rather than panic-driven exits.
Despite this the general sentiment in the market is currently very bearish. While some analysts maintani optimism for Bitcoin's short-term recovery after a healthy correction, investors are starting to lose confidence in the crypto market. And this doesn't just stop at the crypto market - commodities also took a hit after their incredible surge last week.
Altcoins follow the move as market cap slips
Major altcoins tracked bitcoin lower, adding pressure to the total crypto market capitalization, which fell to around $2.58 trillion, down roughly 2.6% on the day.
Ethereum traded near $2,256, down about 8.4% over the past 24 hours and nearly 19.5% on the week. XRP hovered around $1.59, posting a daily decline just over 3% and a weekly drop of roughly 13%. Solana changed hands near $100, down about 5.4% on the day and close to 16% lower compared with last week.
The synchronized move across large-cap tokens underlined the lack of rotation into higher-risk crypto assets.
Extreme fear dominates market psychology
The Crypto Fear & Greed Index fell to 18, firmly in “extreme fear” territory. Historically, such readings tend to coincide with periods of heightened uncertainty, where investors favor capital preservation and wait for clearer macro or technical signals before re-entering risk positions.
Liquidations remain contained
Derivatives data from Coinglass showed about $460 million in liquidations over the past 24 hours, with long positions accounting for roughly $350 million and shorts near $110 million.
Ethereum and Bitcoin led the unwind, with ETH seeing around $172 million in liquidations and BTC close to $149 million. Smaller but notable liquidations were also recorded in Solana at roughly $22 million and XRP, alongside a broad mix of mid-cap and lower-liquidity tokens.
The distribution suggests pressure was spread across the market rather than concentrated in a single asset.
Traditional markets add to the cautious tone
Outside crypto, precious metals also opened the week under pressure. Silver began trading near $80, down around 5.5%, while gold slipped to about $4,720, a daily decline of roughly 3.6%. At the same time, the U.S. dollar index edged higher by 0.09% to 97.23, adding modest headwinds to both metals and risk assets more broadly.
Taken together, the moves suggest a market environment defined less by shock and more by restraint, as investors across asset classes reassess exposure amid mixed macro signals and subdued risk appetite.
#crypto
Justin Sun Faces Allegations of Tron (TRX) Price ManipulationNew allegations have surfaced accusing Justin Sun of orchestrating price manipulation involving TRX, the native token of the TRON, during the project’s early development phase. Key takeaways A former partner alleges Justin Sun manipulated TRX prices using coordinated trading on Binance.The accuser claims to hold evidence and says she is willing to cooperate with the SEC.No regulator or company has confirmed the allegations, which remain unproven. The claims were made publicly by an individual who says she was in a personal relationship with Sun at the time and had direct insight into internal operations. Claims of Coordinated Trading on Binance According to the statement, Sun allegedly used the identities and mobile phones of multiple employees to open numerous accounts on Binance. These accounts were purportedly operated in a coordinated manner, repeatedly buying and selling TRX to create artificial price momentum. The accuser claims this was followed by large-scale selling into retail demand, a strategy commonly associated with market manipulation. The individual behind the allegations says she is in possession of evidence supporting her claims, including WeChat chat records and materials allegedly shared by Sun’s employees. She has stated her willingness to fully cooperate with an investigation by the U.S. Securities and Exchange Commission, and has asked U.S. judicial authorities to contact her directly. Wider Attention After Media Amplification The claims gained broader attention after being circulated alongside reporting from The UnPopulist, which recently highlighted other regulatory issues involving Sun. While the media coverage did not independently verify the manipulation allegations, it added visibility to the accusations at a time of heightened scrutiny of crypto market practices. As of now, Justin Sun has not publicly addressed these specific claims, and no regulator has announced formal findings related to TRX price manipulation. Binance has also not commented on the allegation that multiple employee-linked accounts were used for coordinated trading. The accusations therefore remain unproven. Market Integrity Concerns Resurface The situation has reignited discussion around market integrity in the early days of major crypto tokens, when oversight was minimal and coordinated trading activity was harder to detect. Regulators have increasingly warned that wash trading, nominee accounts, and coordinated price inflation can constitute serious legal violations if substantiated. Until authorities confirm or dismiss the claims, the allegations should be treated as unverified and viewed through the lens of ongoing regulatory processes rather than established fact. #Tron

Justin Sun Faces Allegations of Tron (TRX) Price Manipulation

New allegations have surfaced accusing Justin Sun of orchestrating price manipulation involving TRX, the native token of the TRON, during the project’s early development phase.

Key takeaways
A former partner alleges Justin Sun manipulated TRX prices using coordinated trading on Binance.The accuser claims to hold evidence and says she is willing to cooperate with the SEC.No regulator or company has confirmed the allegations, which remain unproven.
The claims were made publicly by an individual who says she was in a personal relationship with Sun at the time and had direct insight into internal operations.
Claims of Coordinated Trading on Binance
According to the statement, Sun allegedly used the identities and mobile phones of multiple employees to open numerous accounts on Binance. These accounts were purportedly operated in a coordinated manner, repeatedly buying and selling TRX to create artificial price momentum. The accuser claims this was followed by large-scale selling into retail demand, a strategy commonly associated with market manipulation.
The individual behind the allegations says she is in possession of evidence supporting her claims, including WeChat chat records and materials allegedly shared by Sun’s employees. She has stated her willingness to fully cooperate with an investigation by the U.S. Securities and Exchange Commission, and has asked U.S. judicial authorities to contact her directly.
Wider Attention After Media Amplification
The claims gained broader attention after being circulated alongside reporting from The UnPopulist, which recently highlighted other regulatory issues involving Sun. While the media coverage did not independently verify the manipulation allegations, it added visibility to the accusations at a time of heightened scrutiny of crypto market practices.
As of now, Justin Sun has not publicly addressed these specific claims, and no regulator has announced formal findings related to TRX price manipulation. Binance has also not commented on the allegation that multiple employee-linked accounts were used for coordinated trading. The accusations therefore remain unproven.
Market Integrity Concerns Resurface
The situation has reignited discussion around market integrity in the early days of major crypto tokens, when oversight was minimal and coordinated trading activity was harder to detect. Regulators have increasingly warned that wash trading, nominee accounts, and coordinated price inflation can constitute serious legal violations if substantiated.
Until authorities confirm or dismiss the claims, the allegations should be treated as unverified and viewed through the lens of ongoing regulatory processes rather than established fact.
#Tron
Bitcoin Hits $75,000 as Crypto Market Faces Its Toughest Test Since 2024The cryptocurrency market is extending its correction, with total market capitalization slipping to around $2.54 trillion after a daily decline of more than four percent. Key takeaways: Bitcoin has fallen to its lowest level since early 2024, signaling a breakdown in medium-term market structureMarket sentiment has deteriorated sharply, with fear dominating investor behaviorLosses are broad-based, affecting both major assets and altcoinsCapital rotation into stable coins suggests defensive positioning rather than full market exit Broad selling pressure has pushed the market into deep risk-off territory, reflected by a Fear and Greed Index reading of fifteen, firmly in the “extreme fear” zone. Bitcoin has dropped to its lowest level since early 2024, briefly trading near $75,600. Despite minor intraday rebounds, the leading digital asset remains down close to fourteen percent on a weekly basis. Technical indicators point to growing downside momentum, with the daily Relative Strength Index hovering near oversold levels and the Moving Average Convergence Divergence remaining deeply negative, signaling that bearish control has not yet been broken. Selling pressure is not limited to Bitcoin. Ethereum has underperformed the broader market, falling more than twenty-three percent over the past seven days and slipping toward the $2,200 level. Other large-capitalization assets have followed a similar trajectory, reinforcing the sense of a market-wide deleveraging phase rather than isolated weakness. Altcoins Struggle as Capital Remains Defensive Altcoins have offered little relief. Solana and BNB have both posted double-digit weekly losses, while XRP has declined more than seventeen percent over the same period. The Altcoin Season Index currently stands at thirty-one out of one hundred, indicating that capital continues to favor Bitcoin relative to alternative assets, even as prices fall across the board. From a technical perspective, Bitcoin is approaching a historically significant support zone between $72,000 and $75,000. A sustained break below this range could open the door to a deeper retracement, while a successful defense may provide the basis for a short-term relief bounce. However, momentum indicators suggest that any recovery attempt may face strong resistance unless broader market sentiment improves. For now, the crypto market remains firmly in a corrective phase, characterized by declining prices, elevated volatility, and persistent risk aversion. Traders and investors appear to be waiting for clearer macro or regulatory signals before committing fresh capital, leaving the market vulnerable to further downside in the near term. #bitcoin

Bitcoin Hits $75,000 as Crypto Market Faces Its Toughest Test Since 2024

The cryptocurrency market is extending its correction, with total market capitalization slipping to around $2.54 trillion after a daily decline of more than four percent.

Key takeaways:
Bitcoin has fallen to its lowest level since early 2024, signaling a breakdown in medium-term market structureMarket sentiment has deteriorated sharply, with fear dominating investor behaviorLosses are broad-based, affecting both major assets and altcoinsCapital rotation into stable coins suggests defensive positioning rather than full market exit
Broad selling pressure has pushed the market into deep risk-off territory, reflected by a Fear and Greed Index reading of fifteen, firmly in the “extreme fear” zone.
Bitcoin has dropped to its lowest level since early 2024, briefly trading near $75,600. Despite minor intraday rebounds, the leading digital asset remains down close to fourteen percent on a weekly basis.
Technical indicators point to growing downside momentum, with the daily Relative Strength Index hovering near oversold levels and the Moving Average Convergence Divergence remaining deeply negative, signaling that bearish control has not yet been broken.
Selling pressure is not limited to Bitcoin. Ethereum has underperformed the broader market, falling more than twenty-three percent over the past seven days and slipping toward the $2,200 level. Other large-capitalization assets have followed a similar trajectory, reinforcing the sense of a market-wide deleveraging phase rather than isolated weakness.
Altcoins Struggle as Capital Remains Defensive
Altcoins have offered little relief. Solana and BNB have both posted double-digit weekly losses, while XRP has declined more than seventeen percent over the same period. The Altcoin Season Index currently stands at thirty-one out of one hundred, indicating that capital continues to favor Bitcoin relative to alternative assets, even as prices fall across the board.
From a technical perspective, Bitcoin is approaching a historically significant support zone between $72,000 and $75,000. A sustained break below this range could open the door to a deeper retracement, while a successful defense may provide the basis for a short-term relief bounce. However, momentum indicators suggest that any recovery attempt may face strong resistance unless broader market sentiment improves.
For now, the crypto market remains firmly in a corrective phase, characterized by declining prices, elevated volatility, and persistent risk aversion. Traders and investors appear to be waiting for clearer macro or regulatory signals before committing fresh capital, leaving the market vulnerable to further downside in the near term.
#bitcoin
Bitcoin ETF Boom Meets a Harsh Reality CheckBitcoin’s latest sell-off did more than drag the market lower. It exposed how vulnerable recent positioning had become inside spot Bitcoin ETFs. While price action grabbed the headlines, the more important shift happened beneath the surface - at the level of investor entry points. Key Takeaways Most money entered spot Bitcoin ETFs near the highs, pushing average investor returns into negative territory.Dollar-weighted losses explain why the sell-off feels more painful than price alone suggests.ETF flows have shifted from chasing the rally to cutting risk, signaling a reset in sentiment. Data highlighted by market expert Bob Elliott suggests that the average dollar invested in the largest spot Bitcoin ETF has now slipped into loss territory. This does not imply that all investors are underwater. Instead, it shows that capital-weighted returns have turned negative, meaning most money entered at prices that are now above the market. Late-cycle inflows now define the outcome The ETF boom attracted massive inflows during the later stages of Bitcoin’s rally, when sentiment was strong and prices were already elevated. Early participants remain profitable, but their influence has been overwhelmed by heavier inflows that arrived closer to the top. Once Bitcoin rolled over, that imbalance became decisive. Dollar-weighted gains that once stretched into the tens of billions were rapidly erased. The reversal highlights a familiar market pattern: enthusiasm peaks late, exposure concentrates at high levels, and even a relatively contained correction can flip the average experience into a loss. Why this decline feels sharper than the chart suggests From a distance, Bitcoin’s drop looks severe but not unprecedented. For ETF investors, however, the pain is amplified because the majority bought during the most expensive phase of the move. When most participants are positioned near the highs, downside volatility translates directly into psychological pressure. This is why selling pressure often accelerates once breakeven levels are lost. Investors are no longer defending profits - they are defending exits. ETFs shift from accumulation to risk reduction The change in dollar-weighted returns coincides with a broader pullback from crypto investment products. Instead of absorbing dips, ETF flows have turned defensive, reinforcing downside momentum. This marks a transition away from trend-chasing behavior toward capital preservation. Such phases tend to reshape market structure. Weak hands are forced out, leverage declines, and price action becomes more sensitive to genuine demand rather than momentum. A reset, not a verdict on Bitcoin The move into negative aggregate returns does not invalidate the spot ETF thesis, but it does reset expectations. The explosive growth phase is over, and the market is now confronting the consequences of rapid adoption compressed into a short time window. Historically, periods when the “average investor” is underwater often precede consolidation rather than immediate recovery. Whether Bitcoin stabilizes or extends its decline will depend on how flows evolve from here. What is clear is that the ETF-driven chapter of this cycle has entered a far more demanding phase. #BitcoinETFs

Bitcoin ETF Boom Meets a Harsh Reality Check

Bitcoin’s latest sell-off did more than drag the market lower. It exposed how vulnerable recent positioning had become inside spot Bitcoin ETFs. While price action grabbed the headlines, the more important shift happened beneath the surface - at the level of investor entry points.

Key Takeaways
Most money entered spot Bitcoin ETFs near the highs, pushing average investor returns into negative territory.Dollar-weighted losses explain why the sell-off feels more painful than price alone suggests.ETF flows have shifted from chasing the rally to cutting risk, signaling a reset in sentiment.
Data highlighted by market expert Bob Elliott suggests that the average dollar invested in the largest spot Bitcoin ETF has now slipped into loss territory. This does not imply that all investors are underwater. Instead, it shows that capital-weighted returns have turned negative, meaning most money entered at prices that are now above the market.
Late-cycle inflows now define the outcome
The ETF boom attracted massive inflows during the later stages of Bitcoin’s rally, when sentiment was strong and prices were already elevated. Early participants remain profitable, but their influence has been overwhelmed by heavier inflows that arrived closer to the top.
Once Bitcoin rolled over, that imbalance became decisive. Dollar-weighted gains that once stretched into the tens of billions were rapidly erased. The reversal highlights a familiar market pattern: enthusiasm peaks late, exposure concentrates at high levels, and even a relatively contained correction can flip the average experience into a loss.
Why this decline feels sharper than the chart suggests
From a distance, Bitcoin’s drop looks severe but not unprecedented. For ETF investors, however, the pain is amplified because the majority bought during the most expensive phase of the move. When most participants are positioned near the highs, downside volatility translates directly into psychological pressure.
This is why selling pressure often accelerates once breakeven levels are lost. Investors are no longer defending profits - they are defending exits.
ETFs shift from accumulation to risk reduction
The change in dollar-weighted returns coincides with a broader pullback from crypto investment products. Instead of absorbing dips, ETF flows have turned defensive, reinforcing downside momentum. This marks a transition away from trend-chasing behavior toward capital preservation.
Such phases tend to reshape market structure. Weak hands are forced out, leverage declines, and price action becomes more sensitive to genuine demand rather than momentum.
A reset, not a verdict on Bitcoin
The move into negative aggregate returns does not invalidate the spot ETF thesis, but it does reset expectations. The explosive growth phase is over, and the market is now confronting the consequences of rapid adoption compressed into a short time window.
Historically, periods when the “average investor” is underwater often precede consolidation rather than immediate recovery. Whether Bitcoin stabilizes or extends its decline will depend on how flows evolve from here. What is clear is that the ETF-driven chapter of this cycle has entered a far more demanding phase.
#BitcoinETFs
Bitcoin Tests $77K as Michael Saylor Hints at More AccumulationBitcoin has extended its pullback, sliding toward the $77,000 zone as broader crypto market pressure intensifies. Key takeaways: Bitcoin is trading near $77,000, testing a critical support zone after a sharp multi-week declineStrategy holds 712,647 BTC, with an average cost around $76,038Despite volatility, Strategy remains marginally in profit on its Bitcoin positionSaylor continues to signal long-term conviction rather than concern over short-term price action The move has pushed prices close to levels that are now drawing sharp attention-not only from traders watching technical support, but also from institutions with massive long-term exposure. Chief among them is Michael Saylor, whose firm Strategy remains one of the largest corporate holders of Bitcoin despite the downturn. According to the latest hint shared by Saylor, another buy may be approaching soon. Let's remember Strategy now holds 712,647 BTC, valued at roughly $55.3 billion at current prices. With Bitcoin trading near $77,600, the company’s average purchase price of about $76,038 means its position is hovering just above breakeven—after being deep in profit only weeks ago when Bitcoin was trading near its cycle highs. Strategy’s Bitcoin Position: From Peak Profits to Breakeven At Bitcoin’s peak near $126,000, Strategy’s holdings were valued at more than $80 billion, even though the company owned fewer coins at the time. Since then, the market has repriced aggressively, erasing tens of billions in notional value across crypto markets. Still, Strategy’s cost basis leaves it in a uniquely resilient position. With the average purchase price sitting just below current market levels, the company is only about one to two percent away from slipping into unrealized losses-far from the forced-liquidation scenarios often speculated during sharp drawdowns. Saylor has repeatedly emphasized that Strategy is not a leveraged trader but a long-term accumulator, able to withstand extreme volatility without being forced to sell. Technical Picture: Oversold Signals Build as Momentum Weakens From a technical perspective, Bitcoin’s daily chart shows heavy downside momentum over recent sessions. The Relative Strength Index has dropped into oversold territory, while the MACD remains deeply negative, reflecting sustained selling pressure. Volume has picked up during down days, suggesting distribution rather than a quiet consolidation. The $77,000–$78,000 range now stands out as a critical battleground. A clean break below this zone could open the door to deeper downside, while stabilization here may set the stage for a relief bounce—particularly if broader risk sentiment improves. What to Expect Next In the near term, Bitcoin’s direction will likely hinge on whether buyers step in to defend current levels. A sustained hold above Strategy’s average cost would reinforce confidence among long-term holders, while a decisive breakdown could test conviction across the market. For now, Saylor’s message remains unchanged. Rather than reacting to volatility, he continues to frame Bitcoin as a long-duration asset—one where short-term drawdowns are noise in a much longer monetary cycle. Whether the market agrees in the coming weeks will depend on liquidity conditions, macro headlines, and how aggressively buyers respond to this latest test of support. #BTC #MichaelSaylor

Bitcoin Tests $77K as Michael Saylor Hints at More Accumulation

Bitcoin has extended its pullback, sliding toward the $77,000 zone as broader crypto market pressure intensifies.

Key takeaways:
Bitcoin is trading near $77,000, testing a critical support zone after a sharp multi-week declineStrategy holds 712,647 BTC, with an average cost around $76,038Despite volatility, Strategy remains marginally in profit on its Bitcoin positionSaylor continues to signal long-term conviction rather than concern over short-term price action
The move has pushed prices close to levels that are now drawing sharp attention-not only from traders watching technical support, but also from institutions with massive long-term exposure. Chief among them is Michael Saylor, whose firm Strategy remains one of the largest corporate holders of Bitcoin despite the downturn.

According to the latest hint shared by Saylor, another buy may be approaching soon. Let's remember Strategy now holds 712,647 BTC, valued at roughly $55.3 billion at current prices. With Bitcoin trading near $77,600, the company’s average purchase price of about $76,038 means its position is hovering just above breakeven—after being deep in profit only weeks ago when Bitcoin was trading near its cycle highs.
Strategy’s Bitcoin Position: From Peak Profits to Breakeven
At Bitcoin’s peak near $126,000, Strategy’s holdings were valued at more than $80 billion, even though the company owned fewer coins at the time. Since then, the market has repriced aggressively, erasing tens of billions in notional value across crypto markets.
Still, Strategy’s cost basis leaves it in a uniquely resilient position. With the average purchase price sitting just below current market levels, the company is only about one to two percent away from slipping into unrealized losses-far from the forced-liquidation scenarios often speculated during sharp drawdowns. Saylor has repeatedly emphasized that Strategy is not a leveraged trader but a long-term accumulator, able to withstand extreme volatility without being forced to sell.
Technical Picture: Oversold Signals Build as Momentum Weakens
From a technical perspective, Bitcoin’s daily chart shows heavy downside momentum over recent sessions. The Relative Strength Index has dropped into oversold territory, while the MACD remains deeply negative, reflecting sustained selling pressure. Volume has picked up during down days, suggesting distribution rather than a quiet consolidation.

The $77,000–$78,000 range now stands out as a critical battleground. A clean break below this zone could open the door to deeper downside, while stabilization here may set the stage for a relief bounce—particularly if broader risk sentiment improves.
What to Expect Next
In the near term, Bitcoin’s direction will likely hinge on whether buyers step in to defend current levels. A sustained hold above Strategy’s average cost would reinforce confidence among long-term holders, while a decisive breakdown could test conviction across the market.
For now, Saylor’s message remains unchanged. Rather than reacting to volatility, he continues to frame Bitcoin as a long-duration asset—one where short-term drawdowns are noise in a much longer monetary cycle. Whether the market agrees in the coming weeks will depend on liquidity conditions, macro headlines, and how aggressively buyers respond to this latest test of support.
#BTC #MichaelSaylor
India Keeps Crypto Taxes Unchanged in Budget 2026India’s crypto market entered 2026 with a familiar reality: heavy taxes, tighter oversight, and no signs of policy relief. Key Takeaways India kept its strict crypto tax rules unchanged in the 2026 budget.Loss offsets remain disallowed, even when investors end the year in the red.The government focused on tougher compliance rather than tax relief. When the Union Budget was unveiled, digital assets were notable not for what was said about them, but for what wasn’t. Budget clarity through omission By skipping any reference to cryptocurrencies in her address, Finance Minister Nirmala Sitharaman effectively confirmedthat India’s existing crypto tax regime will continue unchanged. The silence carried weight. It meant the flat 30% tax on virtual digital asset gains and the 1% transaction-level tax deduction remain firmly in place nationwide. For the industry, the message was clear: engagement and lobbying over the past year did not translate into policy movement. Exchanges and tax platforms had pushed for adjustments to improve liquidity and simplify compliance, but Budget 2026 instead chose continuity. Why traders still feel the squeeze India’s crypto tax structure is unusual in its rigidity. Profits are taxed individually, losses cannot be offset, and deductions are limited strictly to the purchase price. In practice, this means an investor can lose money over the year and still owe tax on isolated winning trades. That design has created mounting frustration, particularly among active traders. Market participants argue that the rules distort behavior, discourage volume, and push activity offshore rather than into regulated domestic platforms. The numbers behind the pressure Data from the 2024–25 financial year shows how this plays out in real terms. According to figures compiled by KoinX, investor outcomes were almost evenly split between gains and losses. Yet taxable gains exceeded ₹3,700 crore, even as aggregate losses crossed ₹1,100 crore. Despite those losses, investors still paid tax on profitable trades that could not be netted out. At the same time, more than ₹500 crore was collected via the 1% crypto TDS mechanism. In many cases, the amount withheld exceeded the final tax liability, leaving capital tied up in refunds rather than circulating in the market. Enforcement takes priority Instead of adjusting the tax mechanics, the government used the budget to strengthen enforcement. New penalty provisions were introduced for missing or incorrect crypto disclosures, with implementation scheduled from April 1, 2026. The emphasis is firmly on compliance, signaling that reporting accuracy will be scrutinized more closely going forward. For investors and platforms alike, this raises the cost of errors while offering little relief on the underlying tax burden. A policy pause with long-term consequences By choosing not to revisit crypto taxation, India has effectively extended a holding pattern. The rules are clear, but the debate is unresolved. Industry participants warn that prolonged inaction risks draining liquidity and innovation from the domestic ecosystem, even as global competition for crypto and blockchain talent intensifies. For now, Budget 2026 delivers certainty of a kind - not through reform, but through reaffirming one of the world’s strictest crypto tax frameworks. #IndiaCrypto

India Keeps Crypto Taxes Unchanged in Budget 2026

India’s crypto market entered 2026 with a familiar reality: heavy taxes, tighter oversight, and no signs of policy relief.

Key Takeaways
India kept its strict crypto tax rules unchanged in the 2026 budget.Loss offsets remain disallowed, even when investors end the year in the red.The government focused on tougher compliance rather than tax relief.
When the Union Budget was unveiled, digital assets were notable not for what was said about them, but for what wasn’t.
Budget clarity through omission
By skipping any reference to cryptocurrencies in her address, Finance Minister Nirmala Sitharaman effectively confirmedthat India’s existing crypto tax regime will continue unchanged. The silence carried weight. It meant the flat 30% tax on virtual digital asset gains and the 1% transaction-level tax deduction remain firmly in place nationwide.
For the industry, the message was clear: engagement and lobbying over the past year did not translate into policy movement. Exchanges and tax platforms had pushed for adjustments to improve liquidity and simplify compliance, but Budget 2026 instead chose continuity.
Why traders still feel the squeeze
India’s crypto tax structure is unusual in its rigidity. Profits are taxed individually, losses cannot be offset, and deductions are limited strictly to the purchase price. In practice, this means an investor can lose money over the year and still owe tax on isolated winning trades.
That design has created mounting frustration, particularly among active traders. Market participants argue that the rules distort behavior, discourage volume, and push activity offshore rather than into regulated domestic platforms.
The numbers behind the pressure
Data from the 2024–25 financial year shows how this plays out in real terms. According to figures compiled by KoinX, investor outcomes were almost evenly split between gains and losses. Yet taxable gains exceeded ₹3,700 crore, even as aggregate losses crossed ₹1,100 crore.
Despite those losses, investors still paid tax on profitable trades that could not be netted out. At the same time, more than ₹500 crore was collected via the 1% crypto TDS mechanism. In many cases, the amount withheld exceeded the final tax liability, leaving capital tied up in refunds rather than circulating in the market.
Enforcement takes priority
Instead of adjusting the tax mechanics, the government used the budget to strengthen enforcement. New penalty provisions were introduced for missing or incorrect crypto disclosures, with implementation scheduled from April 1, 2026. The emphasis is firmly on compliance, signaling that reporting accuracy will be scrutinized more closely going forward.
For investors and platforms alike, this raises the cost of errors while offering little relief on the underlying tax burden.
A policy pause with long-term consequences
By choosing not to revisit crypto taxation, India has effectively extended a holding pattern. The rules are clear, but the debate is unresolved. Industry participants warn that prolonged inaction risks draining liquidity and innovation from the domestic ecosystem, even as global competition for crypto and blockchain talent intensifies.
For now, Budget 2026 delivers certainty of a kind - not through reform, but through reaffirming one of the world’s strictest crypto tax frameworks.
#IndiaCrypto
Bitcoin Crashes 40%, Yet Historical Cycles Suggest CalmBitcoin extended its recent sell-off this week, briefly plunging to the $78,000 area and marking one of the sharpest short-term declines of the current cycle. Key Takeaways Bitcoin plunged to around $78,000 in a sharp sell-off that shook market confidence.Both analysts view the drop as a liquidity sweep rather than a cycle-ending move.RSI is deeply oversold and MACD is bearish, signaling intense selling pressure.Historically, a ~40% drawdown is mild compared with past Bitcoin bear markets. The move triggered renewed debate among analysts over whether the drop signals deeper downside or a textbook setup for accumulation. Two widely followed market watchers argue that the sell-off may be doing exactly what previous Bitcoin corrections have done - shaking out weak hands before a broader recovery attempt begins. Liquidity sweep or market reset? According to Merlijn The Trader, the latest decline fits a classic Wyckoff-style “spring” scenario. He argues that retail traders tend to fear sharp downside moves, while more experienced participants look for deep liquidity sweeps into prior demand zones. In his view, a flush into older liquidity pockets is designed to force traders out of positions, damage sentiment, and reset positioning before a new upward leg forms. Merlijn highlighted the $69,000-$70,000 region as a historically important zone that could serve as a final spring if the market were to extend lower. While Bitcoin did not reach that area, the rapid slide toward $78,000 already fulfilled much of the same function by triggering liquidations and a sharp sentiment shift. From capitulation to accumulation? A similar, though slightly more optimistic, view comes from Michaël van de Poppe, who believes the broader crypto market may be transitioning out of capitulation and into an early accumulation phase. He notes that many altcoins have already swept their October 10 lows, taking liquidity beneath recent support levels. Van de Poppe acknowledges that additional downside remains possible, but suggests that the coming days could start to show early signs of stabilization, including the appearance of more frequent green candles as selling pressure fades. Source: Michael van de Poppe X[/caption] Technical signals flash oversold From a technical perspective, Bitcoin’s momentum indicators reflect the intensity of the recent sell-off. On the daily timeframe, the Relative Strength Index dropped into deeply oversold territory, hovering in the mid-20s during the crash. Historically, RSI readings at these levels have often coincided with short-term exhaustion among sellers, even if volatility remains elevated. The MACD has also turned decisively bearish, with the signal lines widening to the downside and momentum accelerating during the drop. While this confirms strong bearish pressure in the near term, similar MACD structures in past cycles have frequently preceded consolidation phases rather than immediate continuation lower. Historical drawdowns put the move in context Despite the sharp decline, historical data suggests the current correction remains relatively modest by Bitcoin standards. At roughly 40% below its recent peak, the drawdown is significantly smaller than those seen during prior bear markets. Previous cycle bottoms formed after declines of approximately 70% to 85%, including the 2018, 2020, and 2022 downturns. This comparison has led some analysts to argue that the latest move resembles a violent correction within a broader cycle rather than a full-scale bear market reset. While that does not rule out further downside, history shows that similar drawdowns have often marked late-stage corrections rather than long-term tops. For now, Bitcoin remains technically fragile but historically consistent. Whether the $78,000 drop proves to be a final shakeout or a stepping stone to lower levels, analysts agree on one point - patience and perspective are critical as the market digests one of its most volatile weeks of the year. #BTC

Bitcoin Crashes 40%, Yet Historical Cycles Suggest Calm

Bitcoin extended its recent sell-off this week, briefly plunging to the $78,000 area and marking one of the sharpest short-term declines of the current cycle.

Key Takeaways
Bitcoin plunged to around $78,000 in a sharp sell-off that shook market confidence.Both analysts view the drop as a liquidity sweep rather than a cycle-ending move.RSI is deeply oversold and MACD is bearish, signaling intense selling pressure.Historically, a ~40% drawdown is mild compared with past Bitcoin bear markets.
The move triggered renewed debate among analysts over whether the drop signals deeper downside or a textbook setup for accumulation.
Two widely followed market watchers argue that the sell-off may be doing exactly what previous Bitcoin corrections have done - shaking out weak hands before a broader recovery attempt begins.
Liquidity sweep or market reset?
According to Merlijn The Trader, the latest decline fits a classic Wyckoff-style “spring” scenario. He argues that retail traders tend to fear sharp downside moves, while more experienced participants look for deep liquidity sweeps into prior demand zones. In his view, a flush into older liquidity pockets is designed to force traders out of positions, damage sentiment, and reset positioning before a new upward leg forms.

Merlijn highlighted the $69,000-$70,000 region as a historically important zone that could serve as a final spring if the market were to extend lower. While Bitcoin did not reach that area, the rapid slide toward $78,000 already fulfilled much of the same function by triggering liquidations and a sharp sentiment shift.
From capitulation to accumulation?
A similar, though slightly more optimistic, view comes from Michaël van de Poppe, who believes the broader crypto market may be transitioning out of capitulation and into an early accumulation phase. He notes that many altcoins have already swept their October 10 lows, taking liquidity beneath recent support levels.
Van de Poppe acknowledges that additional downside remains possible, but suggests that the coming days could start to show early signs of stabilization, including the appearance of more frequent green candles as selling pressure fades.
Source: Michael van de Poppe X[/caption]
Technical signals flash oversold
From a technical perspective, Bitcoin’s momentum indicators reflect the intensity of the recent sell-off. On the daily timeframe, the Relative Strength Index dropped into deeply oversold territory, hovering in the mid-20s during the crash. Historically, RSI readings at these levels have often coincided with short-term exhaustion among sellers, even if volatility remains elevated.
The MACD has also turned decisively bearish, with the signal lines widening to the downside and momentum accelerating during the drop. While this confirms strong bearish pressure in the near term, similar MACD structures in past cycles have frequently preceded consolidation phases rather than immediate continuation lower.

Historical drawdowns put the move in context
Despite the sharp decline, historical data suggests the current correction remains relatively modest by Bitcoin standards. At roughly 40% below its recent peak, the drawdown is significantly smaller than those seen during prior bear markets. Previous cycle bottoms formed after declines of approximately 70% to 85%, including the 2018, 2020, and 2022 downturns.
This comparison has led some analysts to argue that the latest move resembles a violent correction within a broader cycle rather than a full-scale bear market reset. While that does not rule out further downside, history shows that similar drawdowns have often marked late-stage corrections rather than long-term tops.
For now, Bitcoin remains technically fragile but historically consistent. Whether the $78,000 drop proves to be a final shakeout or a stepping stone to lower levels, analysts agree on one point - patience and perspective are critical as the market digests one of its most volatile weeks of the year.
#BTC
U.S. Crypto Regulation Back in Focus as White House Hosts Industry TalksThe White House is set to meet with senior banking and crypto industry executives on Monday, signaling a renewed push to break the deadlock surrounding the stalled Senate crypto bill. Key takeaways The White House will host banking and crypto executives to discuss stalled crypto legislationThe Senate crypto bill has been elevated to a top policy priorityDirect White House involvement signals a move from debate to decisionsRegulatory clarity could accelerate quickly if consensus emerges According to sources familiar with the matter, the issue has now been elevated to a top policy priority, reflecting growing concern over regulatory uncertainty and market impact. When the White House becomes directly involved, discussions typically shift from abstract debate toward concrete decision-making - a transition that market participants are watching closely. Why the White House is stepping in now The meeting comes at a time when crypto regulation in the U.S. remains fragmented, with overlapping jurisdictions and unresolved legislative questions. Prolonged delays have created uncertainty for banks, exchanges, and institutional investors seeking clearer rules around custody, tokenized assets, and market structure. White House engagement suggests growing recognition that regulatory ambiguity is no longer sustainable - particularly as other jurisdictions move faster to define crypto frameworks. Industry and market implications For the crypto industry, high-level talks could mark a turning point. If discussions lead to alignment between lawmakers, regulators, and financial institutions, the long-delayed bill could advance rapidly through the legislative process. Markets typically respond positively to signs of regulatory clarity, even when rules are stricter than expected. The key variable is certainty - not permissiveness. Political context and next steps The involvement of President Donald Trump’s administration raises the stakes of the conversation. Historically, once the White House prioritizes an issue, timelines compress and outcomes become more binary. While no immediate decisions are expected from Monday’s meeting, the talks are widely seen as a catalyst. Whether they result in compromise language, regulatory guidance, or renewed legislative momentum, momentum around U.S. crypto policy appears to be building quickly. For now, the message from Washington is clear: crypto regulation has moved back to the center of the agenda - and decisions may follow sooner than markets expect. #regulations

U.S. Crypto Regulation Back in Focus as White House Hosts Industry Talks

The White House is set to meet with senior banking and crypto industry executives on Monday, signaling a renewed push to break the deadlock surrounding the stalled Senate crypto bill.

Key takeaways
The White House will host banking and crypto executives to discuss stalled crypto legislationThe Senate crypto bill has been elevated to a top policy priorityDirect White House involvement signals a move from debate to decisionsRegulatory clarity could accelerate quickly if consensus emerges
According to sources familiar with the matter, the issue has now been elevated to a top policy priority, reflecting growing concern over regulatory uncertainty and market impact.

When the White House becomes directly involved, discussions typically shift from abstract debate toward concrete decision-making - a transition that market participants are watching closely.
Why the White House is stepping in now
The meeting comes at a time when crypto regulation in the U.S. remains fragmented, with overlapping jurisdictions and unresolved legislative questions. Prolonged delays have created uncertainty for banks, exchanges, and institutional investors seeking clearer rules around custody, tokenized assets, and market structure.
White House engagement suggests growing recognition that regulatory ambiguity is no longer sustainable - particularly as other jurisdictions move faster to define crypto frameworks.
Industry and market implications
For the crypto industry, high-level talks could mark a turning point. If discussions lead to alignment between lawmakers, regulators, and financial institutions, the long-delayed bill could advance rapidly through the legislative process.
Markets typically respond positively to signs of regulatory clarity, even when rules are stricter than expected. The key variable is certainty - not permissiveness.
Political context and next steps
The involvement of President Donald Trump’s administration raises the stakes of the conversation. Historically, once the White House prioritizes an issue, timelines compress and outcomes become more binary.
While no immediate decisions are expected from Monday’s meeting, the talks are widely seen as a catalyst. Whether they result in compromise language, regulatory guidance, or renewed legislative momentum, momentum around U.S. crypto policy appears to be building quickly.
For now, the message from Washington is clear: crypto regulation has moved back to the center of the agenda - and decisions may follow sooner than markets expect.
#regulations
Crypto Whale Suffers $250M Loss After Closing Massive Ethereum LongA crypto trader widely known as the “Hyperunit whale” has suffered one of the largest single-position losses of the year after closing an Ethereum long at a steep loss, according to on-chain data shared by Arkham. Key Takeaways The “Hyperunit whale” closed his entire Ethereum long at an estimated $250 million loss as ETH slid to around $2,400 during a broad crypto market sell-off.The loss followed a dramatic reversal from last year’s highly profitable short trades, highlighting how quickly leverage can turn against traders in volatile markets. The whale, linked by Arkham to Garrett Jin, liquidated his entire ETH position after Ethereum plunged sharply alongside the broader crypto market. The exit locked in an estimated loss of around $250 million, leaving just $53 remaining in the trader’s Hyperliquid account. Ethereum fell to roughly $2,400 at the time of writing, down nearly 20% over the past week as risk assets sold off across the board. From perfectly timed shorts to aggressive longs The collapse marks a dramatic reversal of fortune for the trader, who rose to notoriety in October after executing a perfectly timed bearish bet on the market. Just minutes before President Donald Trump announced plans for sweeping 100% tariffs on Chinese imports, the Hyperunit whale opened massive short positions in Bitcoin and Ethereum. Those trades, totaling more than $1 billion in notional value, paid off handsomely as markets plunged, triggering an estimated $18 billion in liquidations across the crypto sector. The whale reportedly walked away with profits of roughly $200 million. While the timing sparked speculation about insider knowledge, no evidence of improper conduct has ever emerged. Leverage turns against the whale as ETH slides After the October windfall, the trader flipped decisively bullish. By mid-January, Arkham data showed the whale had built an Ethereum long worth more than $730 million, with total exposure across ETH, Solana, and Bitcoin exceeding $900 million. The scale of the bet left little room for error. That error arrived as the crypto market entered a sharp correction. Ethereum’s rapid decline, combined with elevated leverage, forced the whale to fully exit the position, crystallizing losses that erased a significant portion of earlier gains. The episode highlights how quickly conditions can shift in crypto markets, where even historically successful trades offer little protection once momentum turns and volatility accelerates. #ETH

Crypto Whale Suffers $250M Loss After Closing Massive Ethereum Long

A crypto trader widely known as the “Hyperunit whale” has suffered one of the largest single-position losses of the year after closing an Ethereum long at a steep loss, according to on-chain data shared by Arkham.

Key Takeaways
The “Hyperunit whale” closed his entire Ethereum long at an estimated $250 million loss as ETH slid to around $2,400 during a broad crypto market sell-off.The loss followed a dramatic reversal from last year’s highly profitable short trades, highlighting how quickly leverage can turn against traders in volatile markets.
The whale, linked by Arkham to Garrett Jin, liquidated his entire ETH position after Ethereum plunged sharply alongside the broader crypto market.
The exit locked in an estimated loss of around $250 million, leaving just $53 remaining in the trader’s Hyperliquid account. Ethereum fell to roughly $2,400 at the time of writing, down nearly 20% over the past week as risk assets sold off across the board.
From perfectly timed shorts to aggressive longs
The collapse marks a dramatic reversal of fortune for the trader, who rose to notoriety in October after executing a perfectly timed bearish bet on the market. Just minutes before President Donald Trump announced plans for sweeping 100% tariffs on Chinese imports, the Hyperunit whale opened massive short positions in Bitcoin and Ethereum.

Those trades, totaling more than $1 billion in notional value, paid off handsomely as markets plunged, triggering an estimated $18 billion in liquidations across the crypto sector.
The whale reportedly walked away with profits of roughly $200 million. While the timing sparked speculation about insider knowledge, no evidence of improper conduct has ever emerged.
Leverage turns against the whale as ETH slides
After the October windfall, the trader flipped decisively bullish. By mid-January, Arkham data showed the whale had built an Ethereum long worth more than $730 million, with total exposure across ETH, Solana, and Bitcoin exceeding $900 million. The scale of the bet left little room for error.
That error arrived as the crypto market entered a sharp correction. Ethereum’s rapid decline, combined with elevated leverage, forced the whale to fully exit the position, crystallizing losses that erased a significant portion of earlier gains. The episode highlights how quickly conditions can shift in crypto markets, where even historically successful trades offer little protection once momentum turns and volatility accelerates.
#ETH
Strategy Won’t Be Liquidated Even if Bitcoin Falls Further, Says Michael SaylorAs Michael Saylor continues to project confidence in Bitcoin through one of the sharpest market corrections of the year, new data shows just how close his company is to breakeven - and why liquidation risk remains far lower than many assume. Key takeaways Strategy is only about 1.8% away from breakeven on its Bitcoin holdingsThe company holds 712,647 BTC at an average price of $76,038Current Bitcoin prices near $78,000 do not trigger liquidation riskStrategy’s debt structure is long-dated, not margin-based According to recent figures, MicroStrategy (now operating under the name Strategy) is currently about 1.8% away from going into the red on its Bitcoin holdings, following Bitcoin’s drop toward the high-$70,000 range. Despite that proximity, Saylor has reiterated that even an extreme scenario - Bitcoin falling to $1 - would not force liquidation. Instead, he claims the company would continue accumulating. Strategy’s Bitcoin position: size, cost, and context Strategy currently holds 712,647 BTC, valued at approximately $55.72 billion at current prices. The company’s average acquisition price sits at $76,038 per Bitcoin, placing the portfolio just above its aggregate cost basis as Bitcoin trades near $77,900. At the recent cycle peak around $126,000, Strategy’s Bitcoin holdings were worth roughly $81 billion, despite the company holding 70,000 fewer BTC at the time. That contrast highlights how price appreciation - rather than position size alone - has driven much of the company’s balance-sheet expansion. The current drawdown has compressed those gains, but it has not materially altered the company’s capital structure. Why liquidation risk remains low While headlines often frame Strategy’s position as highly leveraged, the reality is more nuanced. The company’s Bitcoin exposure is primarily financed through long-dated convertible debt, not short-term margin or collateralized borrowing tied to daily price fluctuations. That structure significantly reduces forced-selling risk. Unlike leveraged traders or funds using perpetual futures, Strategy does not face margin calls triggered by intraday volatility. This is why Saylor can credibly argue that even severe downside scenarios would not result in automatic liquidation. In other words, price volatility alone is not enough to threaten the position. A conviction-based strategy, not a trade Saylor’s statement that Strategy would continue buying even if Bitcoin collapsed to $1 is not meant as a literal forecast, but as a signal of intent. The company treats Bitcoin as a long-term treasury reserve asset, not a tactical trade. That philosophy has been tested repeatedly during sharp drawdowns, including the current correction driven by liquidity stress and forced deleveraging across the broader crypto market. Yet Strategy’s approach remains unchanged: accumulate during weakness, ignore short-term price action, and avoid structural leverage that could force exits. Market perception vs balance-sheet reality The contrast between market fear and Strategy’s balance sheet is stark. While traders are being liquidated en masse and leveraged positions flushed across exchanges, Strategy remains largely insulated from those dynamics. Being 1.8% away from breakeven may sound precarious in headline form, but in practice it places the company far from any existential pressure. As long as Bitcoin remains above the company’s average cost - and even well below it - Strategy’s ability to hold remains intact. The bigger picture Saylor’s comments arrive at a moment when confidence across crypto markets is being tested. Yet Strategy’s position illustrates a key distinction: volatility hurts traders, not necessarily long-term holders with patient capital and fixed financing. Whether Bitcoin rebounds or continues to grind lower, Strategy’s stance reinforces a broader message that has defined this cycle - survival in crypto is less about being right on price, and more about structure, time horizon, and leverage discipline. For now, Strategy remains standing. And according to Saylor, it plans to stay that way - no matter how low Bitcoin goes. #bitcoin

Strategy Won’t Be Liquidated Even if Bitcoin Falls Further, Says Michael Saylor

As Michael Saylor continues to project confidence in Bitcoin through one of the sharpest market corrections of the year, new data shows just how close his company is to breakeven - and why liquidation risk remains far lower than many assume.

Key takeaways
Strategy is only about 1.8% away from breakeven on its Bitcoin holdingsThe company holds 712,647 BTC at an average price of $76,038Current Bitcoin prices near $78,000 do not trigger liquidation riskStrategy’s debt structure is long-dated, not margin-based
According to recent figures, MicroStrategy (now operating under the name Strategy) is currently about 1.8% away from going into the red on its Bitcoin holdings, following Bitcoin’s drop toward the high-$70,000 range.
Despite that proximity, Saylor has reiterated that even an extreme scenario - Bitcoin falling to $1 - would not force liquidation. Instead, he claims the company would continue accumulating.
Strategy’s Bitcoin position: size, cost, and context
Strategy currently holds 712,647 BTC, valued at approximately $55.72 billion at current prices. The company’s average acquisition price sits at $76,038 per Bitcoin, placing the portfolio just above its aggregate cost basis as Bitcoin trades near $77,900.
At the recent cycle peak around $126,000, Strategy’s Bitcoin holdings were worth roughly $81 billion, despite the company holding 70,000 fewer BTC at the time. That contrast highlights how price appreciation - rather than position size alone - has driven much of the company’s balance-sheet expansion.
The current drawdown has compressed those gains, but it has not materially altered the company’s capital structure.
Why liquidation risk remains low
While headlines often frame Strategy’s position as highly leveraged, the reality is more nuanced. The company’s Bitcoin exposure is primarily financed through long-dated convertible debt, not short-term margin or collateralized borrowing tied to daily price fluctuations.
That structure significantly reduces forced-selling risk. Unlike leveraged traders or funds using perpetual futures, Strategy does not face margin calls triggered by intraday volatility. This is why Saylor can credibly argue that even severe downside scenarios would not result in automatic liquidation.
In other words, price volatility alone is not enough to threaten the position.
A conviction-based strategy, not a trade
Saylor’s statement that Strategy would continue buying even if Bitcoin collapsed to $1 is not meant as a literal forecast, but as a signal of intent. The company treats Bitcoin as a long-term treasury reserve asset, not a tactical trade.

That philosophy has been tested repeatedly during sharp drawdowns, including the current correction driven by liquidity stress and forced deleveraging across the broader crypto market. Yet Strategy’s approach remains unchanged: accumulate during weakness, ignore short-term price action, and avoid structural leverage that could force exits.
Market perception vs balance-sheet reality
The contrast between market fear and Strategy’s balance sheet is stark. While traders are being liquidated en masse and leveraged positions flushed across exchanges, Strategy remains largely insulated from those dynamics.
Being 1.8% away from breakeven may sound precarious in headline form, but in practice it places the company far from any existential pressure. As long as Bitcoin remains above the company’s average cost - and even well below it - Strategy’s ability to hold remains intact.
The bigger picture
Saylor’s comments arrive at a moment when confidence across crypto markets is being tested. Yet Strategy’s position illustrates a key distinction: volatility hurts traders, not necessarily long-term holders with patient capital and fixed financing.
Whether Bitcoin rebounds or continues to grind lower, Strategy’s stance reinforces a broader message that has defined this cycle - survival in crypto is less about being right on price, and more about structure, time horizon, and leverage discipline.
For now, Strategy remains standing. And according to Saylor, it plans to stay that way - no matter how low Bitcoin goes.
#bitcoin
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