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๐Ÿ˜ฑ Bloomberg Intelligence Senior Commodity Strategist Mike McGlone reiterated his bearish outlook, suggesting that bitcoin could fall below $10,000 amid a macro-driven repricing of risk assets. However, several market analysts dispute this scenario, arguing that #BTC is more likely to trade in a $60,000โ€“$70,000 range in the near term, with a potential accumulation zone emerging around $30,000โ€“$40,000. #macro link

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๐Ÿ“Œ Top 5 News for 24 Hour:

1. Two Prime sells $BTC worth $274M in a week. โ†’ Read full
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2. Pension-usdt.eth shorting $BTC and $ETH, long on oil. โ†’ Read full
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3. Changpeng Zhao's net worth reaches $110 billion. โ†’ Read full
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4. 32% US Gen Z interested in crypto, sports betting. โ†’ Read full
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5. Whale 0x17c3 increases oil short position. โ†’ Read full
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๐Ÿ‡ฐ๐Ÿ‡ฟ๐Ÿฆ VanEckโ€™s Matt Sigel stated that Kazakhstan has become the first Central Bank to buy Bitcoin. link

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๐Ÿ‡บ๐Ÿ‡ธ๐Ÿฆ One of the four largest U.S. banks, Wells Fargo, has filed a trademark application with the U.S. Patent and Trademark Office for โ€œWFUSD.โ€ The application covers service categories related to cryptocurrency, stablecoins, and digital-asset trading, payments, and related software services.

In similar cases, Western Union previously applied for the โ€œWUUSDโ€ trademark and plans to launch a dollar-backed stablecoin, USDPT, on Solana. Meanwhile, JPMorganโ€™s โ€œJPMDโ€ trademark was ultimately used for a tokenized deposit rather than a stablecoin. #stablecoin link

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๐Ÿ•ต๏ธ In 2010, someone could have bought 220 bitcoin for $1, but said "F*ck that shit."

That 220 BTC is $15.5 million today. link

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๐Ÿ”ฎ According to Bloomberg, several prime brokers serving hedge funds and institutional investors are moving to provide clients with access to the prediction-market platform Kalshi. Clear Street expects to clear its first trade later this month, while Marex Group plans to offer access in the coming months. Some institutions remain cautious due to concerns over liquidity, insider-trading risks, and regulatory lawsuits. #regulation link

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๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ‘€ US to release 172 million barrels of oil from the Strategic Petroleum Reserve.

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๐Ÿ’ธ FYI: 77% of Bitcoin treasury companies are currently holding at a loss. link

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๐Ÿ˜ฑ๐Ÿค‘ Fear & Greed Index for #ETH
๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ—ฝ SEC and CFTC Sign an MOU to Coordinate Crypto Regulation and Support New Product Development. #regulation

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๐Ÿณ Whale 0x8E34, who bought 44,888 $ETH ($92.97M) yesterday, bought another 18,436 $ETH ($38.36M) today. link

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๐Ÿ‡จ๐Ÿ‡ณ๐Ÿ”ฎ Polymarket Launches Weather Prediction Markets for Shanghai and Hong Kong.

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๐Ÿ’ต After a month, Tether has minted $1B $USDT on the Tron network. link

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๐Ÿ‡ฏ๐Ÿ‡ต๐Ÿ’ฐ Metaplanet approved two new subsidiaries: Metaplanet Ventures will invest ยฅ4B into Japanโ€™s Bitcoin ecosystem, while Metaplanet Asset Management aims to build Bitcoin capital markets.

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๐Ÿ“ˆ Brent Crude Oil Rises Above $100 Again.

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๐Ÿ•ต๏ธ Oil bear 0x985f deposited another 4M $USDC into Hyperliquid 45 minutes ago to keep shorting oil.

He now holds ~$35M in xyz:CL and xyz:BRENTOIL short positions and is currently down $1.87M. link

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๐Ÿ•ต๏ธ As oil prices rise, the largest on-chain oil short (0x17c3) has incurred a loss of $2.93M. He is closing part of his position to mitigate further losses, with a new liquidation price set at $111.85. link link

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๐Ÿณ A whale deposited $1M $USDC into HyperLiquid and opened an $CL long position with 20x leverage. link

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๐Ÿ˜ฑ๐Ÿค‘ Fear & Greed Index for #BTC
๐Ÿ‡บ๐Ÿ‡ธ๐Ÿ“Š Binance Research noted that U.S. midterm election years have historically seen elevated market volatility. Data shows an average peak-to-trough drawdown of about 16% for the S&P 500 and an average decline of about 56% for Bitcoin.

Markets often rebound once election outcomes are clear, with historical data showing average gains over the 12 months after midterms of roughly 19% for the S&P 500 and about 54% for Bitcoin. link

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