🩸 $BTC Just Rage-Quit $90k (+$5B Rekt)

In partnership with

63+ Cheat Sheets | Advertise | SuperAI x Crypto | Free One-Shot Guides

Well, it finally happened…

Markets were already bleeding, but this morning the dam just broke. $BTC.X ( ▼ 4.54% ) crashed below $90,000 for the first time since April, setting off a $5 BILLION liquidation bomb across the entire market 🥵.

The Fear & Greed Index is down to 11. That's past extreme fear and well into hiding under the bed territory.

This one feels heavier, right? It was that slow, grinding bleed we've been stuck in for weeks that finally just... broke. This is the kind of event that truly crushes sentiment. You can see it on the timeline right now... everyone is convinced it's over.

Is this the last shakeout, or is the party really over? Let's take a look.

Here’s what we got for you today:

• 👀 Latest crypto news before you trade in this tight market period

• ⭐ Extreme Fear: What the hell is going on with $BTC?

• ⭐ $1B Dump Incoming? The truth about Mt. Gox move

• 🔥 Burning hot takes for the road

I know, the timeline is a mess right now. 😅

But while the crowd is panicking, I’ve been digging into the charts that aren't dumping. In fact, I found three setups that are quietly building massive bullish structures right under our noses.

One of them is Verge ($XVG.X ( ▲ 1.06% ) ). It has been moving sideways for 3,000 days (yes, really)

Another is Starknet ($STRK.X ( ▼ 18.21% ) ), which just broke out of a brutal accumulation phase and is giving us a textbook retest entry right now.

If you want to stop panic-selling and start strategy-building, you need to see these charts.

🥶 WHAT THE HELL IS GOING ON WITH BTC?

Why the hell are we dumping again??

If you're looking at the charts, it feels pretty gloomy out there. This isn't a dramatic, one-day nuke. It's something worse: a slow, day-after-day bleed that's hitting stocks, gold, and crypto all at once.

$BTC.X ( ▼ 4.54% ) just touched a low of under $90,000, and the Fear & Greed Index is flashing a 11, which is full-blown Extreme Fear. 99% of all buyers from the last 5 months are now officially underwater. (We haven't seen short-term holders at this big of a loss since the FTX crash)

So, what’s really going on?

1. The Macro Excuse (Fed Uncertainty)

The easy person to blame is the Fed. Fed Governor Chris Waller just came out supporting a December rate cut, but the market isn't buying it. In fact, the probability of "no cut" is actually increasing and is now at 57%.

Is it the Fed? Kinda. But that's just an excuse. That's not the real reason for the dump.

2. The Real Problem: Wall Street Is Selling

The real problem is that traditional investors (the ETF guys) are treating Bitcoin like just another tech stock.

We're seeing a big sell-off in names like Nvidia as investors lock in profits for the year. And what are they selling right alongside their tech stocks? Their Bitcoin ETFs.

This is the direct link. This is why the stock market's "shiver" is giving crypto a full-blown cold.

3. This Has Started an On-chain Panic Loop

So, you have Wall Street selling its ETFs, which pushes the price down.

This then triggers the on-chain panic from all those new, short-term holders we just mentioned. They are now at a loss and are starting to sell-off to avoid further pain.

Yikes. That ain't good.

Is everyone selling? And when will this bleeding finally stop?

Before answering that, we have to understand…

4. Where are we in the broader cycle?

Here’s the twist in the data: While the short-term holders are at peak panic, the long-term believers are doing the exact opposite.

• Michael Saylor: His company, MicroStrategy, just bought another 8,178 BTC for $835 million. He's not selling; he's buying.

• El Salvador: President Bukele didn't just buy the dip. He just one-shot-bought 1,098 BTC - that's 3 years' worth of his 1-BTC-a-day program.

• A Coinbase Exec: He literally just said, "If you like apples and they go on sale, you like it even more."

The people who actually understand the asset are accumulating.

So... When Does the Bleeding Stop?

$80K? $75K?

The truth is, all those price targets are just guesses. The drop will stop when everyone who wants to sell has finally sold.

That’s what happened at $15.5k in 2022, and it’s what will happen now. The real question isn't "what's the bottom," but "do you have a long-term strategy?"

What's the one thing to watch this week?

My advice is to watch the ETF flows. Are the massive outflows from the tech stock sellers slowing down? Are they being absorbed by new buyers?

That flow data is the real indicator of who is winning this fight.

Earn Bitcoin Without Buying It

Learn how hundreds of Bitcoiners are mining straight from the network and stacking sats at a discount - no middlemen, no pressure, just answers.

• Featured in Bitcoin Magazine

• $280M+ equipment under management

• 95% annual rig performance guarantee

We manage over 3,500 rigs for hundreds of people worldwide - all powered by 100% renewable energy.

⁉️ $1B DUMP INCOMING? THE TRUTH ABOUT TODAY'S MT. GOX MOVE

Mt. Gox is moving coins again!

According to Arkham Intelligence, the long-defunct exchange just transferred 10,423 BTC (valued at roughly $956 million) to a new, unknown wallet.

Why This Gives Traders PTSD?

For those new to the space: Mt. Gox isn't just an exchange; it's the original trauma of crypto. Back in 2014, they handled 70% of all global Bitcoin transactions before collapsing after a massive hack.

For a decade, creditors have been waiting for their money. And every time these ancient wallets wake up, the market assumes a massive supply shock (sell-off) is coming.

Is This a Dump?

Here is the nuance that the panic-sellers are missing:

• It wasn't sent to an exchange. The funds moved to a fresh, unidentified wallet, not to Kraken or Bitstamp (the usual distribution channels). Usually, exchange transfers = selling. Internal transfers = housekeeping.

• The Deadline was Extended. Remember, the repayment deadline was recently pushed back again - all the way to October 2026.

It is highly unlikely this $1B is hitting the order book today.

So, Why the Panic?

It’s the timing. Moving nearly $1B in $BTC.X ( ▼ 4.54% ) right when the market is at its weakest sentiment in months is... unfortunate. It adds fuel to the Extreme Fear fire.

Mt. Gox still holds roughly 34,689 BTC (~$3.1B) in its treasury. As long as that stash exists, it’s going to be a psychological weight on the market.

For me, the market is reacting to the headline, not the reality. This looks like internal shuffling, likely preparation for the distant 2026 payouts. It’s noise. But in a market this fragile, noise is enough to trigger algorithms. Don't let the ghost scare you out of your spot positions.

No MEV. No Gas

CoW Swap blocks MEV so bots can’t front-run your trades. Keep more of every swap.

Trade Smarter

🔥 BURNING HOT TAKES FOR THE ROAD

1INCH just introduced "Aqua," a new liquidity protocol designed to fix DeFi's capital inefficiency problem and unlock deeper liquidity. Read more

Vitalik Buterin just unveiled "Kohaku," a new privacy tool for Ethereum that lets users keep transactions anonymous and compliant. Read more

Global markets are bleeding. $BTC.X ( ▼ 4.54% ) and stocks extended losses today as traders flee risk assets ahead of Nvidia earnings. Read more

End of an era. DappRadar is officially shutting down after 7 years due to financial issues, sending its $RADAR.X ( ▼ 33.76% ) token crashing 30%+. Read more

The "Wild West" of crypto privacy might be over. The IRS just integrated into the international tax system to track global offshore crypto accounts. Read more

🤡 SPICY MEME

💌 SHOUTOUT FROM OUR FIRESTARTER

We read your emails, comments, and poll replies daily

Hit reply and say Hello, we'd love to hear from you!

And if you’ve got a friend deep in crypto (or just getting started), feel free to forward this to them. They can sign up here. Cheers!

⚠ This newsletter is for informational purposes only and should not be considered investment advice. Traders should conduct thorough research, understand the risks, and carefully evaluate their decisions before investing in cryptocurrency.