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Trump seems to recognize his official memecoin, down 85% from its all-time 
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The U.S. Department of Justice (DOJ) has seized 145 domains and cryptocurrency 
funds tied to the BidenCash identity theft marketplace, a dark web platform 
that trafficked in stolen payment card data and personal information. 
Operational since March 2022, BidenCash facilitated the sale of more than 15 
million compromised records, serving over 117,000 users and generating […]

US Seizes Crypto and 145 Domains From Identity Theft Marketplace

Data shows the cryptocurrency sector has seen a large amount of liquidations 
following the volatility that Bitcoin and others have gone through in the past 
day. Bitcoin Has Seen A Rollercoaster Over The Last 24 Hours The past day has 
been a wild time for Bitcoin and the cryptocurrency market as a whole as 
prices have displayed some notable volatility. BTC, especially, has gone 
through quite the rollercoaster, with its price seeing swings in both the up 
and down direction. Related Reading: Bitcoin RSI Dips Below 30—Is A New All- 
Time High Next? Below is a chart that shows how the recent price action has 
looked for the number one digital asset. As is visible in the graph, the 
Bitcoin price first went down to a low of $100,400 from a high around $105,800 
and then witnessed a recovery run back to $104,100. The coin is still overall 
down during the past day, but its loss stands at less than 2%. The other 
cryptocurrencies haven&#8217;t been so lucky, as their prices haven&#8217;t quite retraced 
to the same degree. Ethereum is still down almost 6% and Dogecoin about 7%. 
The volatile storm in the sector has come following a public feud between US 
President Donald Trump and Tesla founder Elon Musk. The spat began when the 
former said in an Oval Office meeting that he was &#8216;disappointed&#8217; in the latter 
over his criticism of the One Big Beautiful Bill Act. Musk had previously 
called the bill a &#8216;disgusting abomination.&#8217; The two let sparks fly on social 
media, with the SpaceX founder even accusing the President of being in the 
Epstein files. &#8220;That is the real reason they have not been made public,&#8221; said 
Musk in an X post. Crypto Liquidations Have Neared A Billion With all the 
volatility that has gripped Bitcoin and company during the past day, it&#8217;s only 
to be expected that the derivatives market would feel the impact. According to 
data from CoinGlass, a mass amount of liquidations have piled up on the 
various centralized exchanges. &#8220;Liquidation&#8221; here naturally refers to the 
forceful closure that any open contract has to go through if it amasses losses 
of a certain percentage. As displayed in the table, the cryptocurrency market 
has seen liquidations amounting to a whopping $970 million over the last 24 
hours. Out of these, a staggering $854 million, representing 88% of the total, 
came from the long investors alone. This is naturally down to the fact that 
prices as a whole have gone down during this window. Related Reading: Solana’s 
Old Hands Are Moving—Is Trouble Brewing? Like usual, Bitcoin and Ethereum have 
led the sector in liquidations, contributing $346 million and $286 million, 
respectively. A mass liquidation event is popularly known as a &#8216;squeeze.&#8217; 
Considering that the longs have made up for an overwhelming majority of the 
latest event, it could be termed a long squeeze. Featured image from Dall-E, 
CoinGlass.com, chart from TradingView.com

Crypto Suffers $1 Billion Flush As Musk-Trump Feud Shakes Bitcoin

Bitcoin is showing signs of recovery after a brief but sharp dip triggered by 
recent market turbulence linked to public tensions between Donald Trump and 
Elon Musk. The price of BTC had dropped to nearly $100,000 during the height 
of the reaction, but has since rebounded. At the time of writing, Bitcoin is 
trading at $104,891, marking a steady recovery from the 24-hour low. While the 
broader crypto market continues to digest the fallout, new data suggests that 
another force, miner activity, is beginning to shape the near-term outlook. 
Related Reading: Bitcoin Pullback or Setup? On-Chain Metrics Hint at What’s 
Coming Next Bitcoin Surge in Miner Inflows Could Pressure Price Action 
According to on-chain analytics published by CryptoQuant contributor 
CryptoOnchain, Bitcoin miners have dramatically increased the volume of BTC 
transferred to exchanges. Between May 19 and May 28, miner-to-exchange inflows 
exceeded $1 billion per day, levels not seen in previous market cycles. These 
inflows are often viewed as a proxy for miners&#8217; intent to sell, which could 
influence short-term supply dynamics and introduce added volatility to BTC’s 
spot market performance. The rise in realized inflows from miners to exchanges 
is interpreted as a sign of growing sell-side pressure. Since miners are key 
liquidity providers in the Bitcoin ecosystem, large-scale transfers to 
exchanges are typically seen as preparations to offload BTC. Historically, 
spikes in miner outflows have preceded periods of downward price pressure, 
particularly when they occur alongside fragile market conditions. 
CryptoOnchain emphasizes that while miner selling isn’t inherently negative, 
it can impact short-term price stability. As a result, traders and investors 
often monitor these flows to better assess potential risks. When miner inflows 
surge, it reflects the sector’s sentiment regarding profitability, operational 
stress, or anticipated price changes. CryptoOnchain noted: Paying close 
attention to these inflows—especially during historical peaks like the current 
phase—can help with risk management and more informed trading decisions. Hash 
Ribbon Signal Suggests Longer-Term Opportunity Amid rising sell pressure, 
another indicator is flashing a potential opportunity. CryptoQuant analyst 
Darkfost noted that Bitcoin’s Hash Ribbons indicator, a metric derived from 
comparing 30-day and 60-day moving averages of network hashrate, has recently 
produced a new buy signal. This metric is used to evaluate miner stress and 
recovery phases, and is generally interpreted as a signal that miners have 
gone through a period of capitulation and are now stabilizing or recovering. 
This signal has historically aligned with favorable long-term entry points, 
except in unique events like China’s 2021 mining ban. While the short-term 
effects of mining stress may contribute to price weakness, analysts suggest 
that these periods often set the stage for longer-term rallies. When miner 
capitulation resolves, it can clear excess supply from the market and 
establish stronger support levels. Featured image created with DALL-E, Chart 
from TradingView

Bitcoin Recovers From $100K Dip While On-Chain Data Shows Rising Miner Activity

The current streak of three consecutive trading weeks of inflows has accounted 
for approximately 25% of the total net inflows since the spot Ether ETFs 
launched in July 2024.