Bloomberg Odd Lots co-host Joe Weisenthal expanded his bearish case for crypto on Tuesday, adding two new reasons to the ten he outlined in February for why this is the worst crypto winter ever.

The Original 10 Reasons Still Stand

Weisenthal’s full list covers every structural headwind crypto faces right now:

Two New Reasons Make It Worse

The first new reason is opportunity cost. SK Hynix is up over 250% year to date and Micron is up over 260%, both driven by the AI and semiconductor boom. 

The Goldman Sachs non-profitable tech basket is surging again just like 2021, with an $11 billion leveraged SK Hynix ETF creating a self-reinforcing feedback loop pulling more capital into memory…

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U.S. stocks retreated from record highs at midday Wednesday as hotter-than-expected economic data and a renewed surge in Treasury yields revived fears the Federal Reserve could soon raise interest rates.

The S&P 500 fell 0.6% to around 7,568, putting a nine-session winning streak in jeopardy. A late-day rebound back into positive territory would instead stretch the run to 10 days, its longest since 1995.

Treasuries Sold Off Sharply

The yield on the 10-year note climbed about 6 basis points to 4.50%, the 2-year rose to 4.10%, and the 30-year held at 5.00%.

The move followed ADP data showing the private sector added 122,000 jobs in May, above forecasts and the strongest reading since January…

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Macro analyst Alex Krüger declared crypto a “failed asset class” on Tuesday but carved out four exceptions he still considers worth owning as Bitcoin (CRYPTO: BTC) slides toward $65,000.

Most Crypto Is Worthless But Four Categories Are Different

Krüger’s case against crypto covers the full picture.

Most assets have poor value accrual, founders dumped on retail without consequences, the meme coin cycle wiped out capital and trust, and DeFi hacks have accelerated sharply since last April.

His view is that “crypto” as most people know it has failed.

Despite that, Krüger draws a clear line between failed crypto and blockchain applications that are actually working. 

His four…

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Bitcoin (CRYPTO: BTC) could face another major test in June, as analysts warn the asset is losing momentum and weakening against stocks and gold.

“Date With Destiny“

In a June 2 podcast, crypto analyst Benjamin Cowen said Bitcoin’s next “date with destiny” may arrive in mid-June, with price potentially testing the 200-week moving average.

He compared current Bitcoin price action to prior mid-cycle weakness in 2018 and 2022, when BTC found local lows around June before staging relief rallies into July.

Overall, the 2026 structure looks similar to 2018, when BTC set a February low, rallied into May, formed a lower high and swept the February low in June.

Cowen said Bitcoin’s February…

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TapTools, Cardano’s (CRYPTO: ADA) primary analytics and infrastructure platform, announced Tuesday it will wind down operations over the next two weeks.

Leadership Exits And Rising Costs Made Operations Unsustainable

TapTools lost two co-founders earlier this year, including its Chief Technology Officer and Chief Operating Officer, followed by the exit of a backend developer who had stepped into the CTO role. 

The departures left the platform unable to justify the ongoing cost of running large-scale infrastructure, development, and support operations.

“The question is not whether we want to continue,” the team wrote. “The question is whether we can responsibly commit to the future…

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