The Bitcoin Street Journal Market UpdateCrypto Fear Hits Neutral, Trump Media Moves $342M BTC, Zcash Holders: Move Now | Morning Edition
Anna's Thursday Morning Edition: crypto's Fear and Greed gauge broke out of Fear and landed on Neutral as Bitcoin held above $80K. A wallet linked to Trump Media sent about $342M in Bitcoin to Crypto.com while Trump-linked tokens led the market's losses. Zcash is about to freeze its oldest privacy pool, so old ZEC holders should check their wallets now. Plus, Bitcoin's next soft fork, a bank attack update, and a phishing warning worth sharing.
THE MARKET THIS MORNING
Bitcoin: $80,550, up 3% in 24 hours (range $77,900 to $81,000). Up almost 1% on the week, down 5.5% on the month. Market cap: $1.62T. Dominance: 59.6%. Total crypto market: $2.71T. Ether: $2,423, up 5%. About 36% below the all-time high. Fear & Greed: 50, Neutral (up from 34 yesterday and 26 two days ago).
THIS MORNING'S SEGMENTS
- Fear Leaves the Building: Bitcoin holds above $80K in a post-election rebound helped by falling oil and a weaker dollar, and Zcash jumped 12% (CoinDesk). Grayscale expects global demand and institutional adoption to keep the industry growing, and BlackRock sees little impact on its crypto business (CoinDesk).
- Follow the Wallet: a wallet linked to Trump Media moved about $342M in BTC to Crypto.com, per Arkham data (CoinDesk). Nobody has said whether it's a sale, a loan or a custody move. TRUMP fell 17% and WLFI dropped 7%+, the two worst performers in the top 100 (Cointelegraph).
- Zcash Deadline: about 12,200 ZEC (roughly $16M) still sits in Sprout, the 2016 privacy pool that's about to be frozen. About 10,000 coins left in the past week, but only about 40 moved Wednesday (CoinDesk). If you used an early Zcash wallet, check it and move your funds.
- The Janitor Fork: Bitcoin's next soft fork may be the Great Consensus Cleanup (BIP-54), which fixes four known weak spots. Co-author Matt Corallo gives it 80% odds of coming next. Paul Sztorc calls it "janitorial." Most developers expect 2028 or later (Decrypt).
- Lock It Down: Credit Mutuel Arkea says nearly all operations are back and customer funds weren't affected. Attackers got in through a service provider (Cointelegraph). CZ warns of a fake Trust Wallet site on a look-alike ".cam" domain that targets Trust Wallet, Phantom and OKX Wallet users (U.Today).
- Rapid Fire: Binance and Polymarket propose a Polygon hard fork to recover $6.8M in frozen stolen POL. Mercado Bitcoin starts a phased reopening Monday and will cover losses. Arkansas sues Kalshi. The XRP Ledger patches a token-creation bug.
- Nostr Desk: no middleman, no password reset desk. Your key is your identity, so guard it, use a signer, and zap what you learn from.
ON THE SITE TODAY
Free tools tied to this morning's news: the Real-Time Bitcoin Market Intelligence Dashboard, Top Gainers and Losers, Token Intel, the Crypto Glossary and the Nostr Desk.
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General information only, not investment advice. Digital assets are volatile, so always do your own research.
