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When China banned Bitcoin mining, the network lost more than half its hash rate. What was the long-term outcome?
Today’s Report
Bitcoin’s Scariest Chart Pattern Might Be Its Most Bullish
🚨 Our Report
Bitcoin is about to flash one of its rarest long-term bear signals: the 50-week moving average crossing below the 100-week moving average. Sounds bearish. Historically, it hasn't been.
This signal has appeared only three times before, and each occurrence came near a major market bottom and was followed by a multi-year bull run. In other words, Bitcoin’s scariest-looking charts have often arrived just as the worst was ending.
🔓 Key Points
Bitcoin is down roughly 50% from its 2025 peak.
A rare 50-week/100-week bear cross is close to triggering.
Previous occurrences were followed by strong multi-year rallies.
On-chain data suggests long-term holders are accumulating.
ETF flows and macro conditions remain the biggest risks.
🔐 Relevance
The bear cross may be less of a warning sign and more of a confirmation that the damage is already done. If accumulation continues and macro conditions stabilize, this could end up being remembered as a classic cycle-bottom signal. The market's favorite trick remains unchanged: looking terrible right before it starts looking unstoppable.
Today’s Top News
HEADLINES
Bitcoin Holds Near $64K Despite ETF Inflow Slowdown — Bitcoin has stabilized around $64,000 even as spot ETF inflows cool. On-chain behavior suggests long-term holders continue accumulating rather than distributing coins. That resilience is being interpreted by many traders as a constructive signal for the broader crypto market.
Congress Nears Digital Dollar Ban, Handing Stablecoins a Major Win — U.S. lawmakers are advancing legislation that would prevent the Federal Reserve from issuing a CBDC through 2031. The measure is widely viewed as favorable for private stablecoin issuers such as USDC and crypto infrastructure providers. It reinforces the political momentum behind privately issued digital dollars rather than government-controlled alternatives.
Bank of England Softens Stablecoin Rules — The Bank of England relaxed several proposed restrictions on sterling-backed stablecoins after industry pushback. Reserve requirements were eased and individual holding caps were dropped. The decision signals growing regulatory acceptance of stablecoins as part of mainstream financial infrastructure.
Bitcoin Slides Below $63K as Risk Assets Sell Off — Bitcoin has fallen below $63,000 amid a broader technology-sector downturn. Despite the weakness, some analysts argue long-term indicators suggest downside may be limited. Traders are closely watching ETF flows and macroeconomic signals for the next major move.
Market Trendline
PRICE ACTION
Price Action
Crypto spent the last 24 hours doing what it does best: reminding everyone that “sideways” is just volatility in disguise.
Market Overview
Bitcoin continues to orbit the $64K level like it's waiting for permission to make its next move. Despite a shaky macro backdrop and continued ETF flow uncertainty, BTC has held up relatively well, suggesting long-term buyers are quietly absorbing supply while short-term traders search for a narrative. The broader market, however, showed less patience. Ethereum, Solana, and most large-cap altcoins underperformed as risk appetite faded.
Macro View
The dominant story remains liquidity. Markets are increasingly focused on inflation, rate expectations, and whether central banks will remain restrictive longer than investors would like. Crypto has spent most of June trading as a macro asset first and a technology asset second. When rate-cut expectations fade, crypto beta tends to follow.
Bottom Line
The market remains stuck between two competing forces: long-term accumulation and short-term macro anxiety. Bitcoin continues to look resilient, but altcoins are struggling to attract fresh capital outside a handful of fundamentally strong names. Until liquidity conditions improve or a new catalyst emerges, expect selective winners rather than a broad-based altcoin breakout.
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.