Saylor took his finger off the buy button. First time in 13 weeks. And the market noticed.
Market Overview
Total cap bled $14.88B yesterday, sitting at exactly $2,304,984,144,087.20. We are down $48B over the last 7 days. Why? Geopolitics and ETF outflows. Hyperliquid whales are opening $53M short positions. But here's the kicker. The US Labor Department is looking at unlocking $10 trillion in 401(k) cash for crypto. So bears shorting the $65k support might just get their faces ripped off.
Bitcoin & Majors
BTC eked out a +0.42% gain, adding $5.54B to its cap. Dominance sits at 57.50%. Hashrate just printed its first quarterly drop in 6 years. Miners are pivoting to AI because the margins are better. Simple math. Saylor paused his buying streak, though MSTR still sits on 762,099 BTC.
ETH actually outperformed, up +0.67%. Why? Supply shock incoming. BitMine scooped up 71,179 ETH, pushing their stack to 4.73 million. That's 3.92% of the total supply. Plus, the Ethereum Foundation just staked a record $46.25 million. They aren't selling.
Outliers
$SOL (+0.47%): SEC officially calling it a commodity. Regulatory overhang deleted. $TRX (-0.36%): US Senator probing the SEC over dropped charges against Justin Sun. The heat is back on. $KAS (-1.42%): Bleeding out as 40% of altcoins sit near all-time lows. Pain incoming. $LDO (Unlisted): Governance is scrambling with a $20M buyback to stop a 95% slide. Classic retail trap.
Sentiment
My read: We are in a high-stress chop zone. Almost half the Bitcoin supply is technically underwater right now. Retail is stressed. But the macro setup is ridiculous. Senator Lummis is pushing the Mined in America Act to build a Strategic Bitcoin Reserve. Square is auto-enabling BTC payments for millions of merchants. I am watching the $65k level. If we lose it, $50k is on the table. But with 401(k) money potentially entering the chat? I wouldn't step in front of that train. Cautious, but the bears are playing with fire.
