Veteran trader Michael XBT is doubling down on his bearish outlook for Bitcoin, even after it has already fallen 12%. He argues that a major breakdown could trigger a “total destruction” across the market. In a series of posts on X, the trader said Bitcoin’s next move lower could be severe. He claimed his short
Bitcoin fell sharply for a third straight day, sliding below $66,000 on Wednesday and wiping out all of its April gains. Key Takeaways: Bitcoin slid under $66,000 on Wednesday, wiping out its entire April rally and hitting an intraday low of $65,362. Over $1 billion in total crypto positions were liquidated over two days, led
Welcome to our institutional newsletter, Crypto Long & Short. This week: Alex Tapscott on the stalling of the CLARITY Act and how it’s impacting the average American consumer. Aisha Hunt writes that crypto will grow by upgrading Wall Street’s trusted products rather than replacing them. Top headlines institutions should pay attention to by Helene Braun
Silicon Valley-based cryptocurrency venture capital firm Variant has completed fundraising for a new $222 million fund, designated Variant 4, with a strategic focus on early-stage investments at the intersection of artificial intelligence and blockchain technology. The news was first reported by Fortune. Fund Details and Investment Strategy Variant 4 marks the firm’s latest capital raise
Bitcoin ($BTC) trades near $67,002, and on-chain data from Glassnode shows the long-term holder cohort is signaling more downside before this bear market prints a cycle low. Three Glassnode charts point in the same direction. Holders carrying coins for over 155 days appear stressed. Yet they have not reached the pain levels that historically marked
The crypto market fell nearly 7% in 24 hours into June 3, with Bitcoin briefly breaking below $66,000 and around $1.8 billion in positions wiped out. The drop looked sudden, but the on-chain data had been flashing for days. Leverage sat at October-crash levels, funding ran hot, and a rare Strategy Bitcoin sale was the
Traders looking for silver linings as Bitcoin price dropped to $65,710 on June 3 are not getting it from analysts who point to how derivatives trades are setting up and the long line to exit crypto funds in their warnings that more pain could be coming. The money leaving crypto is not disappearing into thin
MicroStrategy sold 32 Bitcoin ($BTC) between May 26 and May 31 to help fund dividends on its preferred stock, its first such sale since 2022. Now, its STRC shares are trading below their $100 par value. The sale was small next to the 843,706 $BTC the company holds. Still, it raised a sharper question for
Jamie Coutts, Chief Crypto Analyst at Real Vision, believes crypto may have one more leg lower before a recovery, but says anyone buying Bitcoin in the $60,000s on a long-term horizon is likely making one of the better financial decisions available right now. Speaking in a recent interview, Coutts laid out a measured case for
Bitcoin has suffered a decisive breakdown from its multi-month rising channel, triggering a sharp sell-off that pushed the price toward a major support cluster around $65K. The rejection from the 100-day moving average and the inability to reclaim lost support levels suggest sellers remain in control in the near term, although $BTC is now approaching