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šŸ”»Bitcoin Plunges to $86,000 (TG)

OG Bitcoin whale dumps entire $1.3B stack šŸ‹

🧠 Today’s DYOR:

• Bitcoin slump to $86K brings BTC closer to ā€˜max pain’
• OG Bitcoin whale dumps entire $1.3B stack
• Trump-backed World Liberty Financial freezes wallets
• Growing bull case for $STRK

Let’s dive in.

šŸ“ˆ Market Indicator

šŸ’„ Bitcoin slump to $86K brings BTC closer to ā€˜max pain’ but great ā€˜discount’ zone

Bitcoin’s drop to $86K pushes it toward the ā€œmax painā€ zone defined by key cost-basis levels at BlackRock’s $84K and MicroStrategy’s $73K, where cycle bottoms often form. ETF outflows and tightening liquidity reflect rising fear amid growing macro uncertainty. Still, stablecoin reserves remain stable, hinting at strong buying power once conditions stabilize.

🐳 Bitcoin whale Owen Gunden dumps entire $1.3B stack as institutions tighten grip

Bitcoin whale Owen Gunden has fully liquidated his $1.3B Bitcoin stack amid extreme bearish sentiment, sending his final 2,499 BTC to Kraken. His exit comes as retail fear spikes, yet institutional conviction strengthens, with Bitcoin ETF ownership climbing to 40%. While early whales sell, major firms continue accumulating, reshaping market control.

🄶 WLFI’s ā€˜community governed’ image strained as Trump-backed project freezes wallets

Trump-backed WLFI froze and moved user funds after a phishing attack, sparking backlash over its ability to control wallets without community governance. Only KYC-verified users will see assets reallocated; others will remain frozen. The incident renews debate over decentralization and trust in permissioned crypto platforms.

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šŸŒ Industry News

  • JPMorgan says crypto market correction appears driven by retail selling of Bitcoin and Ether ETFs [Read more]

  • ETH treasury BitMine sits on $3.7B loss as DAT ā€˜Hotel California’ meets BlackRock’s staked ETH ETF [Read more]

  • Jack Dorsey’s Block’s faster innovation and improving Cash App credit metrics draw analyst optimism [Read more]

  • Argentina's Milei provided 'essential collaboration' for Libra project, congressional report finds [Read more]

  • Rep. Davidson introduces bill to allow taxes to be paid in BTC, bolstering the US Strategic Bitcoin Reserve [Read more]

  • British fraud office arrests two men accused of $28M decentralized hedge fund Basis Markets rug pull [Read more]

  • SEC enforcement actions dropped 30% under chair Paul Atkins [Read more]

šŸš€ Projects

  • MegaETH to open pre-deposit window for USDm stablecoin next week [Read more]

  • Coinbase adds ETH-backed loans via lending protocol Morpho, letting users borrow up to $1 million [Read more]

  • Bitcoin Core's first public third-party audit finds no major vulnerabilities [Read more]

  • RippleX engineer explores potential for native XRP staking as CTO weighs in on future XRPL design [Read more]

  • L1 blockchain Core Foundation secures injunction blocking Maple Finance's rival bitcoin yield product [Read more]

  • Privacy chain Aztec launches privacy-focused L2 Ignition Chain on mainnet following token sale [Read more]

  • AI hedge fund Numerai wins backing from top university endowments, token soars [Read more]

  • $XRP (-13%): XRP fails to catch a bid despite ETF approval [Read more]

  • $ETH (-11%): Ethereum underperforms as DATs sell holdings [Read more]

  • $ZORA (-9%): Zora dips despite Jesse Pollak’s official creator coin launch [Read more]  

  • $ZEC (+29%): Zcash maintains strength with traders eyeing $1000 [Read more]

  • $ASTER (+14%): Aster dips, but traders remain bullish with Coinbase listing [Read more]

    * % increase shown are changes over the past week

šŸŒ™ Daily Pick

$STRK: StarkNet is a permissionless decentralized Validity-Rollup (also known as a ā€œZK-Rollupā€) operating as an Ethereum L2.

X: @Starknet
CA: 0xCa14007Eff0dB1f8135f4C25B34De49AB0d42766
Current Price: $0.2231
FDV: $2.23B

Bullish Outlook: Starknet’s bull case centers on rising BTC participation, strong staking demand, and emerging ZK privacy utilities. Its BTCFi initiative channels Bitcoin liquidity into STRK rewards, expanding demand beyond typical L2 use. While monthly unlocks pose sell pressure, rapidly growing staking helps offset it. With potential Zcash-style privacy features, Starknet could differentiate itself and attract capital seeking scalable, privacy-enabled DeFi.

*Disclaimer: This content is for informational purposes only and should not be considered financial advice; always do your own research before making any investment decisions.

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