Happy Tuesday!

Bitcoin is recovering somewhat from its dump to $80,000, but it isn’t time to be bullish just yet, says one top-tier analyst.

BitMine is now down a shocking 80% from its top, but Tom Lee remains undeterred and doubles down on ETH. What to make of this?

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TOP STORY

Bitcoin Bounced Off $80,000, But No Reason To Be Bullish, Analyst Says

Bitcoin has bounced back toward the $87,000 zone, hinting at early signs of buyer interest at major weekly support.

But according to prominent analyst Trader Mayne, traders shouldn’t get too excited.

In his latest podcast, Mayne noted that Bitcoin’s weekly close back inside a fair value gap is the strongest bullish signal seen in over a month. Still, the broader trend remains clearly bearish.

He argued that relying on the monthly chart is misleading, since monthly bearish flips often appear after deep corrections. Instead, he’s watching lower time frames for confirmation.

Read the full scoop here.

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QUICK N DIRTY

Bitcoin, Ethereum, Dogecoin, XRP are consolidating and trying to form a bottom: here’s what’s driving markets today.

Bitcoin sellers may be getting exhausted, but that is no reason for bulls to celebrate: here’s why.

The bear market may be particularly harsh for Bitcoin this time around, as one analyst forecasts that it could fade into irrelevance: here’s what makes him say that.

FINTECH FOCUS

BitMine Down 80% From The Top, But Tom Lee Keeps Buying ETH: What Gives?

BitMine Immersion Technologies Inc. has fallen 81% in less than five months as its leveraged Ethereum accumulation strategy produced $3.6 billion in unrealized losses.

Protos reported that BitMine now holds 3,629,701 ETH, roughly 3% of the circulating supply, yet its share price has collapsed despite Ethereum rising about 10% over the same period. 

The company’s large treasury, once pitched as a differentiating advantage, has instead magnified losses due to poorly timed acquisitions.

BitMine’s decline mirrors a broad wipeout among digital asset treasuries.

Read the full scoop here.

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