Happy Wednesday!

Bitcoin and Ethereum are getting clobbered and the party for bears still might not be over. Here’s what Polymarket predicts could come next.

Tom Lee sees no issue with the $6.6B unrealized loss that BitMine is sitting on after having bought the top on ETH. Here’s why.

Plus, join REX Shares Portfolio Manager Matt Holcomb tomorrow at 11:00 a.m. ET for a webinar on how to harness option strategies to benefit from market volatility. Don’t miss your chance to learn how to generate income with options.

TOP STORY

Bitcoin, Ethereum Liquidations Hit $704M In 24 Hours — And $70,000 Could Break, Polymarket Predicts

Bitcoin traders are bracing for more pain after $704 million in liquidations hit in 24 hours.

Polymarket is pricing a 56% chance BTC slides to $70,000 this month, while odds of reclaiming $85K have dropped to just 41%.

Michael Burry is piling on, arguing Bitcoin has "no organic use case," and political heat over Trump-linked crypto deals is adding to the pressure.

The next 48 hours could decide if this is the bottom — or just the start of another leg down.

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QUICK N DIRTY

Bitcoin, Ethereum, XRP aren’t doing much better after a torrid start to the week and are barely holding back the liquidation tides: here’s what’s moving markets today.

XRP has been hit especially hard, losing 18% of its value in just a week. Is there any way XRP can still bounce back?

The crypto market structure bill is yet to be passed, but CFTC Chairman Martin Selig is bullish: it will become the “global gold standard” of regulation, he says.

FINTECH FOCUS

Tom Lee Responds To $6.6B ETH Loss: 'It's Not A Bug, It's A Feature'

BitMine chairman Tom Lee is calling the company's $6.6 billion unrealized loss on Ethereum "a feature, not a bug."

After critics accused him of being "exit liquidity" for early ETH whales, Lee doubled down — buying another 41,788 ETH on Monday and declaring "Ethereum is the future of finance."

Cathie Wood's Ark Invest is backing the bet with $6 million in fresh BMNR shares, but the stock is down 80% from highs and breaking below key support at $23.

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