Happy Thursday!

Bitcoin is back below $70,000 and things are looking dire again. What’s driving the sudden reversal of fortunes?

Ripple is backing Evernorth — and the company is now filing for a $1 billion Nasdaq IPO. Here’s what it means for XRP.

Plus, oil’s move from $65 to near $100 is creating sharp momentum across energy stocks and options markets. Matt Maley has spent 35 years trading environments like this. This Sunday at 1:00 PM ET, he’ll break down the strategy he uses to position around oil volatility and where the next opportunities may appear. Save your free seat.

TOP STORY

Bitcoin Crashes 4%, Loses $70,000: Why Is BTC Going Down?

Bitcoin crashed back below $70,000, dropping 4% as surging oil prices and sliding equities hit risk assets simultaneously.

Analyst Benjamin Cowen isn't surprised — he's been calling this a countertrend rally, not a new bull market, and the four-year cycle playbook from 2014, 2018, and 2022 says the February low was not the final bottom.

The macro backdrop is making it worse: a hotter-than-expected PPI, rising energy costs, and a weakening labor market have markets repricing Fed rate cut expectations.

SPECIAL OFFER

Oil Volatility Is Driving the Market — Here’s How To Trade It

Oil’s move from $65 to near $100 is creating sharp momentum across energy stocks and options markets. Matt Maley has spent 35 years trading environments like this. This Sunday 1 PM ET, he’ll break down the strategy he uses to position around oil volatility and where the next opportunities may appear.

QUICK N DIRTY

Bitcoin, Ethereum, XRP continues to slide as the relief rally looks well and truly over: here’s what’s moving markets today.

Bitcoin is, for some reason, suddenly outperforming gold on the way down. What’s driving this reversal of fortunes?

Michael Saylor has changed tactics to acquire more Bitcoin. Here’s why that matters for MSTR.

FINTECH FOCUS

Ripple-Backed Evernorth Files For Nasdaq IPO With $1 Billion XRP Treasury

Ripple-backed Evernorth Holdings filed for a Nasdaq IPO with a $1 billion XRP treasury — and the timing couldn't be more deliberate.

The SEC and CFTC jointly named XRP a digital commodity and non-security on the same day as the filing, wiping out years of regulatory overhang from the 2020 lawsuit.

Evernorth already holds 388 million XRP at an average cost of $2.44, backed by Ripple, Arrington Capital, Pantera, SBI Holdings, and Kraken.

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