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The FTX Recovery Trust (sounds like a superhero team, but nope) filed a notice on Monday saying, “Never mind, folks!” after trying to freeze payouts in 49 countries. 🌍 Why? Because apparently, navigating cryptocurrency regulations in places like China, Saudi Arabia, and Russia is like trying to solve a Rubik’s Cube blindfolded. 🤷♀️
Mine operations now perch on branches lesser than remarkable, boasting record-low profitability all while AI-trade correlations weave a tapestry of market uncertainty fit for a nightmarish Fin de Siècle boutique.
Upon this dismal day, the vast empire of crypto’s total market cap retreated by a sorrowful 4.5%, dwindling to precisely $3.47 trillion, thus relinquishing a staggering $300 billion in value within mere hours-a tempestuous sea of monetary tumult! Bitcoin, the throne’s reluctant heir, faltered below the cherished $100,000 threshold for the first time since the ides of June, briefly plunging to $99,075 before settling near $100,870. A decline of about 5%-oh, what heart-wrenching caprice! 💔💸
According to an exchange of whispers with Bloomberg, Gemini plans to unfurl its wings and soar into the prediction markets “as soon as the stars align,” thus filing with the Commodity Futures Trading Commission to become a derivatives bazaar of sorts.
The price, that fickle mistress, moves with little conviction, a reflection of the souls who trade her. Last week, she briefly ascended to $116,000, a fleeting moment of triumph for the traders, only to be betrayed by the long-term holders who, like wary peasants, began to sell. The institutions, those grand lords of finance, stood idly by, their coffers unmoved, leaving the price to tumble once more. 🏰💸
In a riveting CBS interview on Sunday, Trump-who, by the way, apparently doesn’t even know Zhao-explained how he had no idea who this crypto kingpin was. He also dismissed any hint of political motivation with the grace of a seasoned politician. If you thought he was just being cryptic, don’t worry, Leavitt cleared it up, explaining that Trump didn’t “personally know” Zhao. Glad we cleared that up! 😏
The price, once a proud stallion, now limps, having failed to maintain its perch above the $105,500 support. It plunged, not with grace, but with the desperation of a cornered beast, dipping below $104,000 and $103,500, into the bearish wilderness. Even the sacred $100,000 support was not spared its fury, as it spiked to a low of $98,900, a number that shall henceforth be whispered in hushed tones. Now, it consolidates its losses near the 23.6% Fib retracement level, a pathetic attempt at redemption. 📉🤡
Technical indicators are waving red flags like they’re at a party. With steady selling pressure, it seems a dip toward $145-$150 is all but inevitable this week.
Darkfost, the crypto oracle with a 50% accuracy rate, says STHs are throwing BTC into exchanges like it’s hot garbage. 28,600 BTC sold at a loss? That’s just the latest chapter in the “I thought this was a get-rich-quick scheme” saga. Short-term holders are panicking like they bought Bitcoin after a TikTok endorsement. Congrats, you’re now part of the “I should’ve listened to my mom” club.
