Whales Stay Idle, Bitcoin Faces Supply Shock

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Well, turns out the ancient grand exchange known as Kraken, famous for absorbing entire fleets of ships in the financial sea, has decided to cramp its scaly, salt‑laden fingers into the Pi party. It’s following in the steps of its younger cousins OKX, Bitget, MEXC, Gate, and several other nervous toddlers who bumped into each other on the platform’s dance floor.
The drama, of course, erupted with the subtlety of a cannon shot on X (formerly known as Twitter) on a fine Wednesday, dragging billionaires like Jack Dorsey into this theatrical production of accusations and counter-accusations. Some zealous Bitcoin devotees claim that our dear Coinbase, in hushed tones over Washington coffee, has suggested that Bitcoin’s tax exemption is “dead on arrival” because, heaven forbid, anyone might actually use it as money. Oh, the scandal!
So, picture this: the U.S. government swoops in and seizes 127,271 Bitcoin. And Chen Zhi, a Cambodian businessman with a taste for drama, decides to fight back in a New York courtroom. Apparently, these coins are allegedly tied to a worldwide scam network-because why settle for one country when you can allegedly defraud the whole globe?
The immediate fallout is painfully obvious, but the long-term narrative is far more intricate-like the best soap operas, but with fewer tears and more Fed policy. We have the Fed, money printing galore, and let’s not forget the love affair between sanctioned states and crypto. What a delightful mess!
At XRP Australia 2026, David Schwartz explained what he sees as a common misunderstanding about XRP as the crypto market prepares for its next phase. He stated that many people believe XRP’s value is solely based on the technology of the XRP Ledger.
Metaplanet Inc. (TYO: 3350), Japan’s most enthusiastic corporate Bitcoin hoarder, has launched a venture capital subsidiary to build Bitcoin infrastructure. Because nothing says “stability” like throwing money at crypto chaos.

Why bother with complicated code when you can simply exploit the well-known human penchant for gullibility? While the drop from January’s $385 million in losses may seem like progress, the real story here is the rise of the oldest trick in the book: social engineering. Ah yes, the art of tricking people into handing over the keys to their digital vaults, no questions asked. A fine strategy, indeed.

On the surface, things seem calm, almost polite. But if you peek beneath the digital veneer, the market is quietly simmering. A recent report from CryptoQuant shows that Bitcoin’s Supply in Loss-a fancy way of saying the percentage of BTC held at a loss-is creeping back up. For the record, it’s like checking the fridge and realizing half the cake has gone bad, yet you’re still tempted to eat it.

Gold, that paragon of tradition, surged 65% in 2025, a feat rivaling the feverish rallies of yore. It scaled the heights of $5,608, a triumph of sentiment and scarcity. Bitcoin, meanwhile, teeters near $70,000, a ghost of its former $126,000 glory. The chasm between them is as wide as the steppes of Russia, yet within this divide lies a riddle: is Bitcoin’s “digital gold” thesis broken, or merely awaiting its moment?