比特币总裁

Back in 2014, Wang Sicong said Bitcoin was just a scam to fool the noobs, saying buying it was for idiots. At that time, Bitcoin was only $500 per coin. He wanted to go all in with the 500 million his dad gave him to FOMO into Bitcoin. Now, he could've made 8.9 billion, and wouldn't be in a position where no one cares about him.

Coinbase announced that the first loan using Bitcoin as collateral has been issued, which indicates that the U.S. recognizes Bitcoin as an asset, since only assets can serve as collateral. Currently, BTC is being used for payments and collateralized lending, fulfilling all the financial attributes of currency.

A lot of folks think Bitcoin's gonna tank straight down to 54K or even 40K, but I don't see it happening. In the short term, over the next couple of weeks, Bitcoin should be bouncing around between 60K and 70K, adjusting. There's always panic in the market, and where there's fear, there's also greed. When institutions are selling, there are always buyers waiting to scoop up those dips. The bigger the volatility, the larger the arbitrage opportunities—when the winds pick up, the fish get pricier.

Elon Musk's SpaceX is set to go public on June 12th, with an estimated valuation of around $1.77 trillion. This will break records, landing at the top of the historical IPO valuation leaderboard. Musk's net worth is skyrocketing past $1 trillion, aiming for Mars. Meanwhile, Jack Ma's Alibaba's IPO valuation has instantly dropped to third place. Gotta say, old man Musk is on fire!

Big Bro Maji has been going long on a ton of trades lately, racking up losses of over $6 million. Feels like he's wash trading, opening a position every few minutes. Right now, he's also holding a long position on Ethereum, with a liquidation price at 1761. If Ethereum pulls back for a second dip, it might just take him out. Maji can be considered a leading figure in the bulls; he keeps going long and making profits when the market pumps, but when it dumps, he just keeps going long and getting wrecked.

Reasons for Bitcoin's recent plunge
1. MicroStrategy sold off Bitcoin, causing market panic
2. Institutions like BlackRock followed suit, further spreading the fear
3. The Mt. Gox Bitcoin transfer sparked speculation about potential sell-offs
4. Bitcoin spot ETFs saw net outflows for two consecutive weeks, with over $3 billion leaving the market
5. No hopes for short-term rate cuts from the Fed, leaving the market without major bullish catalysts
6. The US stock market continues to hit all-time highs, draining liquidity from the crypto space

Right now, the market is basically devoid of bulls; it's all bears out there. Whenever we see a massive rally, Bitcoin could surge to 71,000, potentially wrecking 3.2 billion in shorts. In the short term, keep an eye on the 60k support level for Bitcoin; as long as it doesn't break below, we’re bound to see a rebound.

Today, BlackRock is going hard on the shorting of Bitcoin and Ethereum, retail traders are spooked, all in panic sell mode. During the bull market, everyone was FOMOing in, but now in this bear market, it's all about the desperate sell-offs.

A couple of days ago, the US stock market skyrocketed while Bitcoin took a hit. Last night, as the stock market dipped, Bitcoin followed suit. Recently, the relationship between Bitcoin and the stock market has been that Bitcoin drops but doesn’t pump.

MicroStrategy and Tom Lee have recently taken a huge hit, with a combined asset evaporation of over $16 billion.

MicroStrategy:
- Holding 843,708 $BTC
- Entry cost $75,699
- Loss of $7.3 billion

Tom Lee's Bitmine:
- Holding 5,416,901 $ETH
- Entry cost $3,485
- Loss of $8.6 billion

The world's largest holders of BTC and ETH are in deep trouble, and retail traders are suffering even more.

Characteristics of American software: Focused on verticals, getting more refined in one direction.
Characteristics of Chinese software: Horizontal approach, trying to stuff everything in.

Alipay and WeChat: Cramming e-commerce, travel, payments, social media, gaming, and top-ups all into one.
Centralized exchanges: Integrating crypto, NFTs, gold, silver, and stocks all in one place. If it weren't for restrictions, they'd probably let you buy big A stocks on there too 🤣🤣

Back when it was over 120k and 80k, everyone was FOMOing in, but now that it's dipped to over 60k, no one's buying. Is cheap just bad goods?

If you have NFTs in your Binance account, you need to transfer them to your Binance web3 wallet or another wallet within a month, or else you'll lose access after that. The NFT market has taken an even crazier dive in the past two years, with most blue-chip NFTs getting chopped in half repeatedly, and don’t even get me started on the knockoff NFTs; not many people are playing with those, I bet.

The crypto market structure bill is now on the U.S. Senate legislative agenda. We've come this far, so it's likely to pass. Trump is expected to make big moves before the midterm elections in November, so there's a strong chance the 'Clarity Act' will get the green light before then.

Homeboy, it's goodbye

Can we speed things up? It's dragging on, been in line for over 5 hours, it didn't even take this long for a test.

Bitcoin is feeling the bearish vibes from MicroStrategy's sell-off, and the daily chart has printed four consecutive red candles. It's creating a big gap, and for the short term, we're likely to see the price range between 60k and 70k as it consolidates. Unless MicroStrategy keeps offloading their Bitcoin, we probably won't see it dip below 60k anytime soon. For those who love to trade the spot market, every time BTC retraces close to 60k, it's a good chance to scoop up some spot and then sell in batches once it hits above 70k. #比特币 #BTC

The panic index has dropped to 11, and the market is in extreme fear. In the past, every time the panic index hit single digits, the price action would bounce back. This time should be no exception.

SoftBank founder Masayoshi Son has become Asia's richest, but CZ isn't having it. Son's net worth is $100.7 billion, but if CZ hadn't migrated, where would he be? Big bro has assets over $110 billion, which is more than Son by a solid $10 billion.

MicroStrategy just sold 32 BTC, and Bitcoin has been on a downward trend for two days, dropping by 4,000 to 5,000 points. What would happen in the crypto space if Satoshi moved or sold 10 BTC?