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Good to see this. At least, CFT isnβt staying silent, and has made some public statements. I hope the team can handle everything and overcome this situation. Will be watching closely
Bitcoin slipping below the $60K area lately doesnβt seem tied to one single event anymore.
NYDIGβs latest report argues the pressure is coming from several different directions at the same time which may explain why sentiment weakened even without a major collapse in underlying network activity.
A few narratives appear to be hitting the market together right now:
* AI stocks continue attracting aggressive capital flows
* Large upcoming tech IPOs are pulling attention away from crypto
* Renewed quantum/security discussions are creating uncertainty
* ETF demand slowed sharply
* Even Strategyβs relatively small BTC sale affected market psychology
Whatβs interesting is that most of these factors alone probably wouldnβt be enough to trigger a larger correction.
But combined together, they seem to be creating a much heavier macro backdrop for crypto than earlier this year.
NYDIG also pointed out that some onchain indicators are already approaching levels historically associated with market bottoms.
Still, the broader drawdown remains relatively smaller compared to previous Bitcoin bear markets which leaves the market debating whether institutional adoption has permanently changed cycle behavior or simply delayed a deeper reset.
Feels like the market is moving through one of those phases where sentiment weakens faster than fundamentals themselves.
Informational only.