JPYKRW

In a post that surely sent hearts aflutter, Luke proclaimed this to be a textbook bull flag after an 8-month consolidation. A pole height measured move points to $11, while the 1.618 Fib extension whispers of $11.20. Oh, the precision! But let’s not forget, a 700% rally from the current price is like expecting a snail to win a sprint. Possible? Perhaps. Probable? Well, that’s a different kettle of fish.

A New York federal judge has allowed a large group of investors to move forward together with their lawsuit against Tether and Bitfinex. Judge Katherine Polk Failla’s decision means these investors won’t have to file separate lawsuits; they can proceed as a class action.

Though a mere seven pages-a whisper compared to the verbose tomes of yesteryear-it brims with grandiloquent notions of cyber offense and deterrence. Implementation, one might observe with a wry smile, is treated as an afterthought, perhaps left for someone less busy counting electoral votes or retweeting.

The most conspicuous sign of this transformation is the meteoric rise of perpetual futures on conventional assets. Imagine a perpetual motion machine of trading, where commodities, equities, and macro assets twirl endlessly, unbothered by office hours or lunch breaks. Unlike conventional markets, which politely close their gates at five, crypto exchanges keep the lights on, as if mocking the concept of “business hours” with a sly grin.

CryptoQuant’s omniscient analyst Maartunn (who, according to reports, has a near‑perfect memory of every ad on a vending machine) has posted on X that the metric measuring the top ten depot inflows against the total exchange inflow has finally decided to let the whales bite back.

The latest dip is a combination of several “fun” macroeconomic hits: rising oil prices, a disappointingly weak U.S. jobs report, and, of course, a wave of liquidations across the crypto derivatives market that hit like a tsunami. Traders, apparently a tad bit too confident with their leverage, were forced to pay the piper, sending prices lower. The whole scene screams: “Risk-off, folks. Time to panic!”