‘Bitcoin Is Going To Zero,’ Says World Gold Council CEO: ‘Just My Instinct As A Trader’

World Gold Council CEO David Tait says Bitcoin (CRYPTO: BTC) is going to zero, calling it “pure instinct” with no reasoning behind the view.

Gold Council CEO: Bitcoin Doesn’t Offset Risk Assets

Tait explained on Tuesday that Bitcoin correlates with risk assets during crises instead of offsetting them as intended. 

He believes Bitcoin was meant to disassociate itself from risky assets but hasn’t delivered on that promise.

“I thought it was meant to be an offset, something that you could compensate for having exposure to risky assets,” Tait stated. “It didn’t really do that to that extent,” he added.

He also argued that investors should hold both gold and Bitcoin if they have…

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Bitcoin Fails At Crucial Resistance: Why Is BTC Stuck At $77,000?

Bitcoin (CRYPTO: BTC) trades around $77,000, following $1 billion in outflows last week after a six-week inflow streak.

Bitcoin Failed At 200-Day MA On First Real Macro Shock

Bitcoin popped above $82,000 on the CLARITY Act vote, then reversed hard and now sits below the 200-day moving average at $82,200 after getting rejected five times this month.

Support holds at $76,000-$78,000. Breaking below $75,000 opens up $70,000-$72,000.

The weekend slide toward $77,000 triggered $657 million in liquidations, $584 million from longs.

Meanwhile, Ethereum (CRYPTO: ETH) dropped 10%, continuing to underperform across spot and derivatives. ETH/BTC pressed 0.0275 with funding softer and relative implied…

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Stock Market Today: S&P 500, Nasdaq 100 Futures Gain As Street Awaits Nvidia’s Q1 Report—CAVA Group, AMC

U.S. stock futures rose on Wednesday following two consecutive days of lower closes for the S&P 500 and Nasdaq 100 indices on Tuesday.

Additionally, the Federal Reserve will be releasing the minutes of the Fed meeting later in the afternoon.

Meanwhile, the 10-year Treasury bond yielded 4.65%, and the two-year bond was at 4.10%. The CME Group’s FedWatch tool‘s projections show markets pricing a 96.7% likelihood of the Federal Reserve leaving the current interest rates unchanged during June’s meeting.

IndexPerformance (+/-)Dow Jones0.08%S&P 5000.30%Nasdaq 1000.68%Russell 20000.36%Stocks In FocusToll Brothers
Benzinga’s Edge Stock Rankings indicate that TOL maintains a weak price trend… Read more on Benzinga

Pudgy Penguins Extends Partnership With Manchester City Soccer Club After ‘Success’ Of First Drop—PENGU T

Popular NFT brand Pudgy Penguins said on Tuesday that it’s extending its collaboration with English soccer club Manchester City, following the launch of a limited-edition collectible and hoodie earlier this year.

PENGU In Soccer Mode

In an X post, Pudgy Penguins said that they are building on the “success” of the first drop and will share more details soon.

“Together, we’ll be creating exciting experiences at the intersection of physical and digital and bringing Pengu and Pudgy Penguins to City fans worldwide,” Pudgy Penguins stated.

An attached video showed Pudgy Penguins’ mascot PENGU wearing a Man City jersey and posing with a soccer ball.”

The Manchester City Collectible set,…

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Cathie Woods’ 21Shares Has A New ETF—And It’s In Big Demand – Hyperliquid Strategies (NASDAQ:PURR)

21Shares’ new Hyperliquid ETF pulled more than $5 million in inflows within days of launch and generated $8 million in trading volume Thursday alone.

Strong Early Demand Signals Appetite For Always-On Trading

Eli Ndinga, global head of research at 21Shares, explained that Hyperliquid’s appeal comes from letting traders access crypto, oil, silver, and gold markets around the clock. 

The firm previously launched a Hyperliquid product in Europe before bringing the strategy to U.S. investors. The ETF follows Hyperliquid Strategies Inc (NASDAQ:PURR) as a way of getting exposure to HYPE.

Trading activity during recent geopolitical tensions involving Iran demonstrated the platform’s value. 

Benzinga

Bitcoin Price Slides Below $77,000, ETF Sales Top $1 Billion

Bitcoin price’s recovery narrative is under pressure. The world’s largest cryptocurrency has shed nearly $5,000 from its recent high of $82,000, dropping to around $76,900 as of this morning — a four-day losing streak driven by a powerful convergence of macro headwinds, accelerating institutional outflows, and on-chain metrics that reveal a recovery without the capital conviction of prior bull cycles.

Bitcoin price opened Monday at roughly $77,500 before slipping further throughout the session. The total crypto market cap has shed over $100 billion in valuation since last Friday, falling to approximately $2.65 trillion.

Liquidations have been severe. Total crypto…

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Elizabeth Warren Questions ‘Effective Crypto Banks’ By Coinbase, Ripple, Paxos

Senator Elizabeth Warren (D-Mass.) on Tuesday questioned the Office of the Comptroller of the Currency letting nine crypto firms operate as banks without proper safeguards.

Warren Questions OCC Approval Of Nine Crypto Trust Charters

“These companies are effectively crypto banks that want to evade the fundamental safeguards and obligations that come with being a bank,” Warren wrote. 

She argued the OCC’s decision to facilitate this regulatory arbitrage conflicts with federal law and poses serious risks to consumers and the banking system.

The OCC has granted trust charters to crypto firms as the agency embraced President Donald Trump‘s agenda to elevate the crypto sector and…

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Btrust Appoints New Board Of Directors To Steer Next Phase Of Bitcoin Development

Btrust, the non-profit organization dedicated to decentralizing Bitcoin open-source development, has announced the appointment of a new Board of Directors, marking the completion of a landmark governance transition and the launch of the organization’s next strategic chapter.

Following a global, open call and a rigorous, multi-stage selection process, Janet Maingi, Bruno Garcia, and Laurence Aderemi have assumed full governance responsibilities, the organization told Bitcoin Magazine.

The selection was guided by Btrust’s Genesis Principles, which prioritize transparency, fairness, and mission alignment — values that have anchored the organization since its founding.

The…

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TD Cowen Raises Strategy (MSTR) Price Target To $400 On Bitcoin Accumulation And Balance Sheet Shift

TD Cowen has raised its price target on Strategy (MSTR) to $400, pointing to strong bitcoin accumulation and a shift in financing strategy as key drivers of potential upside. With shares trading near $166, the new target implies a gain of more than 140%.

The brokerage maintained its buy rating, citing faster-than-expected bitcoin purchases and a change in capital structure that supports growth in bitcoin per share. Strategy, led by executive chairman Michael Saylor, now holds 843,738 BTC, valued near $64 billion. That position represents more than 4% of the total bitcoin supply cap.

Analysts noted that the company has exceeded prior forecasts for bitcoin purchases during the…

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Bitcoin Bears Are Dead Wrong, Analyst Says, But XRP Is Not On His Altcoin Shortlist

Bitcoin Bottomed At $60,000 On Peak Bearish Sentiment

Maeda pointed to the Fear and Greed Index hitting the lowest reading in crypto’s history last month at $66,000 Bitcoin—lower than the 3AC collapse, Luna crash, or COVID crash.

“We hit the lowest fear and greed rating in the history of crypto’s existence last month at 66,000,” Maeda stated. 

He argued that sellers ran out of tokens after months of liquidations and capitulation.

Michael Saylor’s aggressive Bitcoin purchases through Strategy Inc. (NASDAQ:MSTR) provided the catalyst.

Saylor bought $1.5 billion in March, $3.5 billion in April, and $2 billion in May, creating a positive reflexive loop where higher prices attract…

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