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⌐◪-◪ → Bitcoin briefly surged past $62,000, sparking renewed optimism among bulls who are now revisiting the $100,000 year-end target. The rally came on the back of favorable stock market sentiment and expectations that Bitcoin will follow its traditional four-year cycle.

The surge liquidated nearly $100M in short positions, making it one of the largest short liquidations this year. Some market watchers attribute the gains to positive momentum in traditional markets, with the S&P 500 seeing its best day since November 2022. The market and Bitcoin are correlated.

Michael Terpin of Transform Ventures highlighted the historical strength of Bitcoin in October and November, especially in the year following a halving. If Trump wins the election, we could see even more upward pressure on BTC, potentially pushing it over $100,000.

Congratulations to anybody who bought the $49K dip less than 5 days ago when we posted our Time To Buy Blood Issue — you are now up over 20%

The question remains: do we continue upwards, or is another pullback on the horizon? Let me know what you think in Specs.Chat!

⌐◪-◪ → WazirX just announced that it will restore all user balances to their pre-$230M hack state, rolling back any trades made after the cyberattack.

This move is aimed at ensuring fairness for all users impacted by the breach, which some believe was carried out by North Korean state-sponsored hackers, even though it means people who made “good trades” post-hack get screwed.

The exchange has halted all trading and withdrawals during the restoration process, which could take several days. Users will receive notifications detailing any reversed trades, with both crypto and INR balances being adjusted.

WazirX’s decision underscores the risks of using centralized platforms, even if they do deal in “crypto”.

Was this the right move by WazirX, or are they floundering? Let me know what you think in Specs.Chat!

⌐◪-◪ → Donald Trump Jr. has clarified that while he loves memecoins, his new project is something “much bigger.” Addressing the recent $RTR token pump-and-dump, Don Jr. emphasized that it’s not associated with the project he and Eric Trump are working on.

He hinted that their project will focus on addressing banking access inequality, aligning with the broader theme of decentralized finance. Trademark applications suggest the project might be called “World Liberty.”

Meanwhile, the $RTR token, which briefly reached a $140M market cap on rumors of Trump family involvement, quickly plummeted to $8M after Don Jr. and Eric denied any ties. 💬 Is Don Jr.’s new project legit?