2026-02-06
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
Bloomberg
Why this is the worst crypto winter ever: AI crowds out BTC for mindshare and power grid access, crypto is mainstream, gold beats BTC as a safe haven, and more
Hello and welcome to the newsletter, a grab bag of daily content from the Odd Lots universe. Sometimes it's us …
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
Wall Street Journal
Strategy reports Q4 net loss up 1,749% YoY to $12.4B, as BTC trades below the company's $76,052 average purchase price; MSTR is down ~60% over the past year
Shares of the bitcoin-stockpiling company have fallen sharply since crypto prices touched all-time highs in October
2026-02-05
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
Bloomberg
Bitcoin falls to ~$66K, its lowest level since President Trump's election win in November 2024 and down 44%+ from its October 2025 peak as global markets fall
Bitcoin slumped below $70,000, a level last seen 15 months ago, as a broad risk-off sentiment engulfed global markets.
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
Bloomberg
Why this is the worst crypto winter ever: AI crowds out crypto for mindshare and power grid access, crypto is mainstream, gold beats BTC as a safe haven, more
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 shaving.Mario S. /@covered_call:According...