Bitcoin (CRYPTO: BTC) has logged its steepest two-week drawdown since June 2022, but Bitwise Chief Investment Officer Matt Hougan says “much of the bad news is already priced in”.

The 6 Crash Factors

Hogan identified six factors driving the crash:

Signs of Exhaustion

On-chain data reveals long-term holders stopped selling aggressively and some are buying.

Open interest on Bitcoin derivatives exchanges fell to 2024 levels. Rate cut expectations are increasing.

Moreover, Sentiment is hovering near historic lows, matching levels that marked crypto bottoms in 2018 and 2022, suggesting the market has already priced in much of the bad news.

Could It Fall Further?

Yes. Previous drawdowns were…

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Bitcoin trades below $69,000, with liquidations at $396.22 million over the past 24 hours.       

Bitcoin ETFs saw $371.15 million in net inflows on Friday, while Ethereum ETFs reported $16.8 million in net outflows.

The meme coin sector dropped about 7% in a single day to $32.8 billion, tracking the broader market decline.

Buy Around The Lows

Crypto trader Jelle said Bitcoin’s bounce from its first major area of interest was constructive, but last week’s close below the 2025 low marked a meaningful shift in market structure.

He cautioned against rushing into positions, noting that long-term entries are best built deliberately as markets typically offer extended time near cycle lows.

Benzinga

Jack Dorsey‘s Block Inc. (NYSE:XYZ) is reportedly telling its employees about potential job cuts during its annual performance review amid broader restructuring.

The fintech company is targeting 10% of its workforce for potential layoffs, reported Bloomberg on Saturday. As per the 10-K filing, Block had nearly 11,372 employees globally.

The company is aiming to integrate its CashApp payment vehicle with its merchant platform Square. At the same time, Dorsey is also focusing on developing the AI tool Goose as well as the company’s Bitcoin (CRYPTO: BTC) initiative called Proto, as per the publication.

Layoffs Loom, But Analyst Predicts Better 2026

The talk of layoffs at Block is not new….

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A few Bitcoin (CRYPTO: BTC) landed in a wallet tied to the network’s mysterious creator, Satoshi Nakamoto, on Friday, sparking a wave of speculation and theories in the cryptocurrency community.

Is Satoshi Really Still Active In Crypto?

A transaction involving 2.5 BTC, worth over $174,405 at the current price, was detected by the on-chain analytics firm Arkham. The BTC landed up in the so-called “Genesis” wallet, i.e, the address that mined the first block on the Bitcoin blockchain.

The wallet has received BTC before. About two years ago, someone sent Satoshi 26.917 BTC, worth more than $1 million.

An X user called Goaty questioned the “Satoshi is alive” narrative pushed by some…

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Veteran Wall Street investor Jordi Visser weighed in on Bitcoin’s (CRYPTO: BTC) recent crash on Friday, stressing that the cryptocurrency remains inextricably linked to developments in traditional finance.

Are Institutional Investors Losing Interest In Bitcoin?

During an interview with entrepreneur and investor Anthony Pompliano, Visser was asked bout the factors driving the ongoing Bitcoin crash. Visser said he was “losing money” like everyone else.

“You cannot separate Bitcoin from the traditional finance world. You just can’t,” he stated.

Bitcoin Lacks A ‘Fundamental Narrative’

He argued that if institutional investors, such as pension funds or sovereign wealth funds,…

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Anthony Scaramucci, founder of SkyBridge Capital and former White House communications director, called on Republicans in Congress on Sunday to “break ranks” with President Donald Trump, arguing that the POTUS was “deeply unpopular” now.

Scaramucci’s Bold Call To Republicans

In an open letter to Republican Congress members, Scaramucci accused Trump of “betraying” the nation, highlighting what appeared to be his connections to convicted sex offender Jeffrey Epstein.

Trump has consistently denied any wrongdoing in relation to Epstein, with whom he says he severed contact decades ago.

Scaramucci added that Trump is “deeply unpopular,” predicting the midterms will bear that…

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Bitcoin gained, while other leading coins stagnated on Sunday, as the cryptocurrency market attempted a recovery after a rout earlier in the week.

Bitcoin Climbs After Bloodbath

Bitcoin consolidated in the $69,000-$71,000 zone over the weekend, after tumbling below $61,000 on Thursday. Trading volume for the apex cryptocurrency fell 32% in the last 24 hours.

Ethereum also oscillated between $2,066 and $2,148, with $2,000 acting as a strong support for the second-largest cryptocurrency. XRP and Dogecoin fell 0.23% and 2,17%, respectively.

Over $336 million was liquidated from the market in the last 24 hours, according to Coinglass, with bearish short bets alone accounting for $236 million.

Benzinga