Bitcoin’s dramatic slide to a year-to-date low of $74,500, wiping roughly 38% from its peak, has triggered a wave of institutional selling and record-breaking on-chain metrics suggesting the asset is in fire-sale territory. While spot market buying has provided a tentative bounce, the path forward remains fraught with volatility as major funds retreat and market structure presents a complex mix of capitulation and potential fuel for a rebound.
about Bitcoin Hits Yearly Low at $74.5K, MVRV Signals Undervaluation
Grayscale Bitcoin Trust
Bitwise CIO: Bitcoin Sell-Off Signals Final Retail Panic Phase
Bitwise Chief Investment Officer Matt Hougan believes Bitcoin’s recent sell-off below $102,000 represents ‘max desperation’ among retail investors rather than fundamental weakness. While small traders are hitting breaking points, institutional investors continue adding positions through Bitcoin ETFs. This divergence between retail panic and institutional confidence could fuel Bitcoin’s next rally.
about Bitwise CIO: Bitcoin Sell-Off Signals Final Retail Panic PhaseDCG Sues Genesis Over $105M Promissory Note Dispute
DCG is suing Genesis Global Capital to recover $105 million linked to a $1.1 billion promissory note issued after Three Arrows Capital’s (3AC) collapse. Genesis had lent $2.36 billion to 3AC, which defaulted, prompting DCG to issue the note in 2022 to stabilize Genesis. DCG now claims that recoveries from 3AC’s collateral, including Grayscale Bitcoin Trust shares, have nullified the debt, while Genesis disputes this, arguing DCG is reneging on contractual obligations. The lawsuit adds to existing legal tensions, as Genesis previously accused DCG of fraud in a separate $3.1 billion case.
about DCG Sues Genesis Over $105M Promissory Note DisputeDCG Sues Genesis Over $1.1B Loan Dispute
Digital Currency Group (DCG) has sued its now-bankrupt subsidiary Genesis, arguing that its $1.1 billion loan in 2022 exceeded Genesis’ losses and even resulted in profits due to recovered collateral from Three Arrows Capital. The collateral, held in Bitcoin and Grayscale Bitcoin Trust shares, surged in value post-2022, reducing DCG’s obligations to zero. Genesis, a crypto lender under DCG, collapsed in 2023 after exposure to failed firms like Three Arrows Capital and Alameda Research. DCG claims it fulfilled its financial commitments, while Genesis had earlier sued DCG for $3.1 billion over alleged fraudulent transfers during its collapse. The legal battle highlights the fallout from the 2022 crypto contagion.
about DCG Sues Genesis Over $1.1B Loan Dispute