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Bitcoin’s Historic Drop: Whales Eye a Recovery
Bitcoin just recorded one of its largest weekly drops ever in U.S. dollar terms, sinking near $80,000 and sparking fear across the crypto landscape. Analysts warn that a deeper dip toward $78,000—or even $69,000—may be on the horizon if selling pressure continues. Meanwhile, traders await critical U.S. inflation data (CPI and PPI), which could further affect risk assets. Despite the gloom, some see a silver lining: larger investors, known as “whales,” have quietly resumed accumulating Bitcoin. Their renewed interest hints that a relief rally could follow, providing a glimmer of hope for those bracing for more volatility ahead.
US Bitcoin Reserve Sparks Mixed Reactions
The recent announcement of a United States Bitcoin reserve, which will use seized BTC rather than purchasing new coins, has stirred mixed feelings in the crypto world. Some industry players were disappointed, citing unrealized hopes for direct government acquisition of Bitcoin. Others believe that even this cautious approach signifies major progress, as a federal authority now officially supports maintaining BTC. Market analysts note that the news, along with broader economic concerns, briefly drove prices down from around $90,400 to under $85,000. Still, many remain optimistic that the White House’s evolving stance on crypto could spark continued dialogue and potential growth.
DeFi TVL Sheds $45B Amid Ethereum Challenges
The decentralized finance (DeFi) sector has lost $45 billion in total value locked (TVL) since late 2024, wiping out previous gains. Ethereum alone has dropped by $30.6 billion, reflecting difficulties that include fluctuating prices, high gas fees, and fragmented liquidity across layer-2 solutions. Despite Ether’s 10% price decline, nearly 800,000 ETH left exchanges in a single week—indicating some investors see current prices as an opportunity for accumulation or staking. Meanwhile, Ethereum’s upcoming Pectra upgrade aims to enhance efficiency and interoperability. Though early testing hit a few snags, many hope these enhancements will help reignite interest and growth in the DeFi space.
WLFI’s Sui Partnership Sparks Debate Over DeFi Authenticity
Sui, a layer-1 blockchain from Mysten Labs, recently partnered with WLFI (World Liberty Financial), a DeFi protocol whose ties to the Trump family and reliance on Aave v3 have raised skepticism. The collaboration will add SUI to WLFI’s “Macro Strategy” reserve, fueling speculation of favoritism due to Eric Trump’s open support for SUI. Critics claim WLFI’s approach offers minimal innovation and focuses instead on extracting value from projects. Despite doubts, SUI’s price briefly spiked 12% after the announcement. Meanwhile, Sui’s advanced architecture continues to attract attention, with parallel transaction execution and object-centric data models boosting DeFi performance. WLFI has not addressed the controversy.
Investors Flee Risk as Recession Fears Intensify
Fears of a looming recession have sparked a broad sell-off in both crypto and traditional markets. Wall Street powerhouse JPMorgan raised its recession odds to 40%, citing “extreme US policies,” while Goldman Sachs also increased its 12-month outlook for a downturn. Despite White House assurances of optimism, the S&P 500 and tech-heavy Nasdaq tumbled, with the “Magnificent 7” losing hundreds of billions in market value in a single day. Crypto markets mirrored the decline, shedding $240 billion in total capitalization. Bitcoin briefly fell below $77,000 before recovering slightly. Analysts warn that continued uncertainty could deepen losses across risk-on assets.
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