Happy Tuesday!

Bitcoin is back below $64,000 and the bear market vibes are intensifying. Why can’t Bitcoin catch a break?

Circle has acquired IBM’s entire portfolio of blockchain patents. But CRCL still dropped on the news. What is going on?

Plus, the Fed's next move could shake everything up. Check out our Investor Cheat Sheet and get ahead of the game. Get your free copy today.

TOP STORY

Bitcoin Drops Below $64,000: 'Respect The Bear,' Bloomberg's Mike McGlone Says

Bitcoin has slipped below $64,000 into a make-or-break week stacked with heavy earnings, a Fed decision, and fresh inflation data.

Bloomberg strategist Mike McGlone warns traders to "respect the bear."

He rejected the bottoming thesis, arguing a 10% S&P 500 decline could trigger a 20%-30% Bitcoin crash toward or below $50,000.

The bull case hinges on a sustained breakout above the $69,000-$70,000 resistance zone, with BTC recently reclaiming its 200-week moving average—a pattern seen near prior major bottoms.

Where does BTC go from here?

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MARKET MINUTES

Tom Lee says crypto is living through its 1934 moment as it decouples from chip stocks. What does that mean for BTC and ETH?

Coinbase’s policy chief says the CLARITY Act is critical for the US to maintain its lead over China. But why?

Cardano founder Charles Hoskinson called Donald Trump’s crypto involvement disgusting — but a Harris administration would’ve still been worse for the industry.

FINTECH FOCUS

Circle Acquires IBM's Entire Blockchain Patent Portfolio: 'IBM Just Capitulated,' Analyst Says

Circle Internet Group has acquired nearly 1,000 blockchain patents from IBM, instantly making Circle the largest blockchain patent holder in the United States.

The portfolio spans 680+ patent families covering foundational blockchain tech, banking, supply chain verification, and secure cloud operations.

Crypto analyst Scott Melker called it a capitulation by IBM and a moat-building masterstroke by Circle as stablecoin competition accelerates.

But despite the strategic win, CRCL slid 3.8% to $63.15. What’s going on?

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