Same same but different

Perpetual Beginner

[Thierry from arvy 🇨🇭 @ThierryBorgeat]

🚨 Bitcoin just dropped from $74,000 to $67,500 in 48 hours. On no real news.

One thesis that fits the data:

The exit liquidity rotation has begun.

In the next months, four companies are raising over $350 billion in fresh equity:

– SpaceX IPO: ~$75B
– OpenAI raise: ~$100B
– Anthropic raise: ~$100B+
– Google net equity issuance: ~$80B

That money has to come from somewhere. Existing portfolios. Risk-on capital. Cash.

Bitcoin is the most liquid risk-on asset on earth. Selling it is the fastest way to free up dollars without triggering tax events on long-held equity positions.

If the most religious Bitcoin holders – the corporate treasuries, the funds, the whales – are even partially rotating to participate in the largest IPO cycle in history, you don't need a news catalyst to explain the drop.

You just need the supply curve to flip.

This isn't bearish on Bitcoin long-term. It's a sign that the entire risk-on crowd is preparing to absorb the largest equity issuance year since 2000.

When the marginal Bitcoin holder needs to be on a SpaceX cap table, Bitcoin goes down for reasons that have nothing to do with Bitcoin.

The exit liquidity avalanche doesn't just hit overvalued stocks.

It hits anything liquid.

[Same same but different @Libagin3]

@TheBTCTherapist All reds are because of SpaceX ipo drop

[Nexo @Nexo]

We have established a MiCA-compliant structure under German regulatory oversight – one of the highest standards of financial regulation in Europe.

All products and services continue without changes.

This is what our long-term commitment to our clients in Europe looks like in practice.

Nothing is expected from current clients at this stage.

Stay updated: https://t.co/T6SoA8arQ0

[Same same but different @Libagin3]

@watchdotfun @watch_emperor That's gay

[Same same but different @Libagin3]

@NoContextEPL What happened to Liam Neeson?

[Same same but different @Libagin3]

@design2live @klara_sjo Really? In front of my morning coffee?

[Same same but different @Libagin3]

@naiivememe The strong wind helped. But that's still impressive

[naiive @naiivememe]

type of girl you pull when you decide to be a delusional investor

[Coin Bureau @coinbureau]

🚨UPDATE: Strategy repurchases 411 BTC worth over $30 MILLION in the past 4 hours.

[Linda @Cryptofly777]

Is Cardano Doomed?

If you’ve been on Cardano X lately, you’d probably think the ecosystem is falling apart.

Governance drama, constant fighting, and endless negativity.

But Cardano is actually far from doomed!

Let’s talk about everything that's happening right now 👇

[Same same but different @Libagin3]

@crypto_birb The unpopular opinion is that it looks good.

[Cointelegraph @Cointelegraph]

🇵🇭 JUST IN: Binance to enter the Philippines again via a BlockShoals partnership under the SEC’s sandbox framework.

[Same same but different @Libagin3]

@randgroup To be fair, it looks good

[Same same but different @Libagin3]

@TimJayas @lara_hmpedro This is why AI will bubble pop if they force IPOs within 2030. There are a lot of jobs which you cannot make even a small error. And you can't trust AI for that. AI companies will be worth Billions but not half a Trillion.

[Tim Jayas @TimJayas]

Gemini 3.5 Flash is good but... 💀

[Same same but different @Libagin3]

@TheGrandLythton @GenshinImpact Who's gonna tell him?

[Documenting Saylor @saylordocs]

$1,000 invested in Gold vs Bitcoin in 2012🤯

[AMLBot @AMLBotHQ]

According to @zachxbt, an EUR stablecoin issuer got hacked. With $11M stolen, attackers are swapping stolen funds to ETH and holding it.

[Same same but different @Libagin3]

@coinbureau I hope so. So it could be cheaper

[Starknet (Privacy arc) 🥷 @Starknet]

strkBTC's bridge is designed to evolve across 3 phases, each one removing a layer of trust.

The destination: a bridge where fraudulent transactions become mathematically impossible.

Here's a breakdown of each phase 👇