Discussion

• @vivek4real_ Vivek Sen on x

  🇺🇸 MICHAEL SAYLOR'S STRATEGY $MSTR CEO JUST ANNOUNCED THEY WILL KEEP BUYING BITCOIN EVERY SINGLE QUARTER THEY WILL NEVER SELL THEIR BITCOIN [image]

• @dampedspring Andy Constan on x

  Not only has $MSTR f*cked up BTC but it's levered ETF's “Amplify” the f*ck up On the close today 2600 whole Coins equivalent will be forced sold in the form of MSTR shares into the market to rebalance the leveraged ETF's

• @martypartymusic @martypartymusic on x

  Michael Saylor during the company's latest earnings call today stated that @Strategy will initiate a Bitcoin Security Program a coordinated effort with the global cybersecurity, cryptography, crypto, and Bitcoin security communities specifically to address the quantum computing

• @bitcoinmagazine @bitcoinmagazine on x

  @BitcoinForCorps WATCH: Michael Saylor live on Strategy's (MSTR) Q4 2025 Earnings Call: https://x.com/...

• @nic_carter Nic Carter on x

  Today in the annals of Saylor mental gymnastics Calling me a FUDster while simultaneously acknowledging the validity of my points [image]

• @nic_carter Nic Carter on x

  karma doesn't drive markets, but bitcoiners surely deserve it for - embracing DATs - idolizing a guy that sells $1 of Bitcoin for $1.50 to retail - believing in fantasies like “the four year cycle” and “stock to flow” or an ever growing MSTR premium - embracing apocalyptic

• @an10nev @an10nev on x

  Very good. Last two bullets important.

• @mert @mert on x

  @TheStalwart lol it's none of these it's simply the spot:derivative ratios being out of whack due to colossal leverage

• @zavcorin Zav Corin on x

  @TheStalwart Crypto's main legacy : it accidentally gave the U.S. an edge in AI deployment. An entire “web3” industry quietly pivoted to AI—and delivered. A few who stayed to push “adoption” got rich.The Plebs got smoked In the meantime China caught up with AI. The rest is just s…

• @donalt @donalt on x

  My gut feeling is that we'll get out of this bear market sideways There will be a bunch of bigger bounce plays but you'll probably have a while to buy around the bottom this time round Get comfortable with the pain bros, it'll last a while IMO

• @nic_carter Nic Carter on x

  A few days ago I told myself $55k would be a generational entry and I would back up the truck there. I expect my limit orders will be filled in an hour or two

• @arthurb Arthur B. on x

  The technical solution to Bitcoin's quantum woes is actually straightforward: 1/ support an opcode to verify SPHINCS+, it's not the most efficient but it's the most conservative choice and you won't have to debate forever about whether it's safe enough. Soft fork or hard fork it

• @nic_carter Nic Carter on x

  @Galois_Capital I think we're digesting a rock or maybe a gigantic piece of coach foam and it's stuck

• @thestalwart Joe Weisenthal on x

  Crypto has had bigger drawdowns before. But this is definitely the worst crypto winter ever. Writing about it for today's newsletter, which you can sub to here. https://www.bloomberg.com/...

• @cmilakgun @cmilakgun on x

  TL;DR Why this might be the worst crypto winter, even worse than FTX or 10/10? Author's thesis: This may not be the biggest drawdown ever, but it's the most structurally negative environment crypto has faced because multiple support narratives are breaking at once. Main

• @covered_call Mario S. on x

  According to Artemis data DATs are down ~$25B cumulatively, with zero above their cost basis. https://app.artemisanalytics.com/ ... [image]

• @thestalwart Joe Weisenthal on x

  no [image]

• @cryptopathic @cryptopathic on x

  A lot of older coin charts look done forever eg. dogecoin, ltc, ada Bitcoin failed its use case by underperforming gold so severely. Most other projects are not meeting their growth expectations. So institutions are now coming to collect their liquidity

• @crypto_mckenna McKenna on x

  It may be the worst sentiment I've seen since FTX.

• @bykatherineross Katherine Ross on x

  i don't think it was necessarily a “last gasp” for the entire industry, but it definitely seems to have marked the ending of a chapter. i'd argue crypto's now in an institutional era and that means there's a lot of uncomfortable change taking place

• @muyaoshen @muyaoshen on x

  @TheStalwart @Crypto_McKenna I think this is worse than FTX because crypto was saying back then that FTX wasn't a crypto specific scam. But now feels more like a real identity crisis for crypto

• @thestalwart Joe Weisenthal on x

  This is the key thing. It's not about price. It's about loss of faith and industry demoralization.

• @zherbert Zach Herbert on x

  Epstein? Quantum? AI (which is beautifully synergistic with Bitcoin)? FUD is off the charts and not even close to rational.

• @ljkawa Luke Kawa on x

  TL;DR: you've run out of baggies

• @amandalfischer Amanda Fischer on x

  We're lucky this crypto winter is happening before it got too entangled with real finance. Remember in December when @cftc announced that BTC was eligible to be margin in derivatives trades? Thankfully that hasn't had time to take off.

• @cobie @cobie on x

  @Crypto_McKenna In some ways worse tbh. More like 2015

• @blknoiz06 @blknoiz06 on x

  @TheStalwart definitely agree with most of these esp the ai risk for tech talent & hardware, but there's definitely still a ton of ppl online on crypto twitter, bitcoin & ethereum are pretty fragmented but hyperliquid & solana are likely the most close knit communities atm

• @tomlefevre Tom Lefevre on x

  @TheStalwart Think a part of it is that “the crypto president” is increasingly a liability

• @jyarow Jay Yarow on x

  You know the bottom is in when the most square MSM people are talking about it

• @thestalwart Joe Weisenthal on x

  This crypto winter is hitting different

• @thestalwart Joe Weisenthal on x

  This is the most brutal crypto winter ever. Nobody's even joking about it in a self effacing way. And if there were anyone doing the meme, you wouldn't see it because there's no crypto twitter anymore.

• @marypcbuk Mary Branscombe on bluesky

  turns out the ‘future of money’ isn't useful enough to deliver any of what it promised [embedded post]

• @saylor Michael Saylor on x

  HODL

• @thestalwart Joe Weisenthal on x

  It's hard not to think that the explosion of DAT companies last year, where various crypto holders exchanged their tokens for inflated equity, was a big last gasp for this industry

• @ljxie Linda Xie on x

  Unless they were flat out scamming, I don't think people should be shamed if they decide to leave crypto and pursue something that interests them esp if they've been in it a long time. I only don't like it if they trash everyone else who wants to stay and keep building

• @arthur0x Arthur on x

  So this is what end of an era feels like. Have always wondered how some of the biggest industries and sectors in the past went into another era. Surreal to experience it first hand.

• @arrington @arrington on x

  I may be even more bullish medium and long term than @balajis

• @cryptohayes Arthur Hayes on x

  Mommy ... I'm scared. 😱

• @camiinthisthang Cami on x

  I'm telling you guys the next 3 months are about to get wild All the smart people will either try to go to one of the few crypto projects with sustainable revenue & growth or will leave crypto completely We saw 3 of the smartest ppl outright leave crypto in the last 48 hours

• @brian_armstrong Brian Armstrong on x

  True Corollary: there are opportunities in every market (and right now there are definitely some great ones!)

• @elerianm Mohamed A. El-Erian on x

  Quick market update: As forced liquidations continue and new margin calls are issued, Bitcoin prices have now plummeted 25% this week alone. The scale and disorderly nature of the sell-off are spilling to crypto-adjacent assets and also beyond. #markets #crypto #bitcoin [image]

• @tjl Tom Lee on x

  this seems premature to me. Crypto's key use case is doing financial crime. Financial crime is currently (mostly) legal, reducing demand. These conditions presumably will not last forever.

• @follis_ @follis_ on x

  What a day for crypto Another $2.6B+ liquidated from the market 500,000+ positions $BTC -14% on the day $ETH -16% on the day 90% of alts are trading at all-time lows If you are still here, congratulations You have already outperformed many 🤝 [image]

• @izebel_eth Jez on x

  i always knew i was bad at trading memecoins i just forgot btc is a memecoin

• @thestalwart Joe Weisenthal on x

  10 REASONS WHY THIS IS THE WORST CRYPTO WINTER EVER In today's newsletter, I wrote about how there are just numerous dynamics all happening at once — from Epstein to quantum to AI to the death of crypto twitter — clobbering the coins [image]

• @luke_metro @luke_metro on x

  how low does crypto have to drop before I never have to hear about Fairshake again

• @samczsun @samczsun on x

  on one hand the crypto dream feels dead but on the other hand weve finally figured out how to spin ai agents into the shitcoin grift cycle so really who can say

• @evan_ss6 @evan_ss6 on x

  If you can't handle the 70% drawdowns, then you don't deserve the 5% pumps. HODL

• @ljxie Linda Xie on x

  Regardless of how I feel about it, I've never had so many people I respect tell me I should leave crypto

• @sumitroy2 Sumit Roy on x

  Bitcoin fell below two symbolic levels today: its pre-Trump election price and its 2021 cycle high (today's intraday low $66,600) $BTC [image]

• @taikimaeda2 Taiki Maeda on x

  I know it's scary, but we are nearing a capitulation event where you want to be buying the blood. A year or two from now, BTC might be trading at $200k. HYPE can be $100. ETH might even be at $1500. It's important to think long-term and stay rational. [image]

• @fintechfrank Frank Chaparro on x

  GS: “While the sentiment surrounding cryptocurrencies may appear to be waning (Figure 2), these episodes have historically provided opportunities to engage in length. A chart worth paying close attention to is the BTC / XAU ratio which is testing a multi-year level” [image]

• @donalt @donalt on x

  We've hit price levels I want to buy But I thought we would only hit those price levels with Saylor getting into trouble/The Epstein case being blown open much more/The stock market tanking We got none of those things and went there anyway which makes it hard to buy the dip

• @balajis Balaji on x

  I have never been more bullish on crypto. Because the rules-based order is collapsing and the code-based order is rising. So the short term price doesn't matter. As international law breaks down, we will need not just onchain currencies, but onchain companies. As the post-war

• @donalt @donalt on x

  I'll buy 100% guaranteed 1) Trump steps back/Gets impeached/Removed/Dies 2) BTC goes to $40k - I think that's hilariously cheap 3) Epstein perpetrators get revealed/leaked and people associated get charged Until then I'll play it day by day and just go off of gut feeling

• @galois_capital Galois Kevin on x

  Crypto market is just digesting 10/10 shit, DAT shit, quantum shit, and reg shit. Once it's all digested, it will be fine.

• @shaunmmaguire Shaun Maguire on x

  I love crypto I will always believe It's an incredible community Crypto and AI were born as siamese twins Anyone that was in both pre AlexNet understands this Elon, Sam Altman, Balaji, etc were all interested in both Two sides of the applied math coin That will merge again

• @thestalwart Joe Weisenthal on x

  The fact that crypto and silver are getting clobbered at the same time as the SaaS stocks makes me think that the “AI disruption” story is a little too pat of an explanation for what's going on.

• @mert @mert on x

  @balajis this is the year we evolve web 3.0 to capitalism 2.0

• @donalt @donalt on x

  $BTC update: Lucky to have held off on buying Bulls need to reclaim the old range high ($71k) for the bull case to be rescued Waiting for that reclaim or at the lower support ($44k) makes loads of sense to me Anything in between sucks structurally [image]

• @lomahcrypto Loma on x

  At some point, they'll run out of Bitcoin to sell right? [image]

• @adamscochran Adam Cochran on x

  Crypto and stocks learning what Lindsay ment. Not only did you round trip your bags, but the dollar is also worth 10% less, so you're actually even more poor! Congrats! 😁

• @dgt10011 Jeff Park on x

  Bitcoin implied vol is now at 75% This is the highest level since the ETF launch in 2024 It is also finally higher than gold volatility Know it's a lot of pain right now, but this is all part of the process required for Bitcoin to make new highs The melt up will be fast [image]

• @splitcapital Zaheer on x

  Highest volume day since the 2024 election season, on Binance spot. 106,000+ BTC traded. [image]

• @thecryptodog @thecryptodog on x

  Someone launched a token with my face on it and BTC nuked to 66.6k damn

• @divine_economy David Phelps on x

  am more excited about crypto than ever. we can weep all we want that our fake liquidity ponzi hold-for-five-minutes creator memecoin tokenize-everything future-of-republican-party bull cases all failed, but i— i think this is the best thing that's happened to crypto in years.

• @lukegromen Luke Gromen on x

  Perhaps most important chart in macro right now 10y UST yld - 10y JGB yld (blue) v. USDJPY Markets appear to be discounting that the rate that forces BOJ back into YCC to avoid a Japan (& then global) debt crisis may not be too far north of here BTC crash & gold vol = symptoms [i…

• @cburniske Chris Burniske on x

  Watching with interest, but not buying yet. Expect a bounce, but doubt the bloodletting is done.

• @ledgerstatus Ledger on x

  I am both bullish and poor

• @arthur0x Arthur on x

  A day to go down in the crypto history books [image]

• @fintechfrank Frank Chaparro on x

  The biggest allocators are telling me a very different story than what crypto Twitter is sharing. Lesson there.

• @birdyword Mike Bird on x

  If you're a bitcoin investor freaking out about the selloff, have no fear: it's only down over the last week in dollar terms (fake fiat money). It's up in silver. [image]

• @chiweethedog Roy Drones Jr on x

  Anyone checking in with El Salvador's bitcoin dictator

• @nouriel Nouriel Roubini on x

  The Crypto Apocalypse Out of 20k ICOs: 80% of them (16k) were a total criminal scam in the first place - steal the money and run - based on results of an academic research paper. Another 18% of them (3.6k) went to zero and collapsed . Of remaining 2% (400) that survived those

• @intocryptoverse Benjamin Cowen on x

  Every cycle is the same. Yes, crypto could bounce. And honestly, it would be great for sentiment if it could. But even if it does, it would most likely result in a macro lower high. I don't try and time those bounces. I have tried before with mixed levels of success. Sometimes [i…

• @mattzeitlin Matthew Zeitlin on x

  obviously crypto has died and lived a million times but i do wonder if this is kinda a tipping point or winnowing, like the regulatory environment for crypto will never be more friendly than it is right now and yet it went sideways and then puked

• @bon_g Bong on x

  My money was losing 7% per year due to inflation so I decided to invest into crypto Now I'm losing 30% per month [image]

• @dcinvestor @dcinvestor on x

  to anyone serious who's left in crypto: this is the creator of ClawdBot / OpenClaw probably the most important consumer agentic AI project, and the likely starting point for the onchain agent economy his POV about crypto people is common. the popular perception has shifted

• @portfolioxpert Bob Kendall on x

  So here's the issue you get influencers like this guy have a quarter million followers and they claim they don't know why it is declining... it's because they don't understand basic mechanics of price discovery. They don't understand that the marginal buyers or the float

• @karlbode.com Karl Bode on bluesky

  oh I see you've noticed your miracle technological revolution has no function outside of money laundering and speculative chodeism

• r/wallstreetInvestment r on reddit

  Bitcoin drops below $70,000 as sell-off continues