Sebastjan Bele

Mantra (OM) crashed over 90%, wiping out $5B in market cap and raising fresh concerns about altcoin risk. On Solana, Raydium launched LaunchLab, joining the memecoin infrastructure race, while Base faced backlash after a promoted token briefly dropped 95%. Fed Chair Powell hinted at easing crypto rules for banks, and Bitcoin stayed steady around $85K amid a quieter-than-usual week from the White House.

What a week (so far)! Bitcoin dipped below $75K early in the week after Trump’s sweeping tariff announcement sent shockwaves through markets. The 10-year U.S. Treasury yield spiked above 4.5%, and the S&P 500 fell well below 5,000, as macro pressure mounted across the board.

Bitcoin, Ethereum, and crypto markets dropped after Trump announced sweeping import tariffs, including a 10% baseline and up to 49% for some countries. Meanwhile, Circle filed for an IPO, signaling institutional interest despite volatility. GameStop revealed a $1.5B convertible note raise to buy Bitcoin, and Binance faced fresh scrutiny over suspicious altcoin sell-offs, sparking market manipulation concerns.

Bitcoin is hovering around $87K, holding steady as sentiment begins to shift more bullish, fueled by technical support and fresh headlines. Binance made headlines by identifying a market maker allegedly… responsible for aggressively dumping MOVE tokens, raising concerns over insider-driven volatility on centralized exchanges.
Meanwhile, Hyperliquid delisted the memecoin JELLYJELLY after a whale manipulation fiasco, continuing the trend of exchanges cracking down on low-liquidity token antics.

Bitcoin rebounded to $85K after the Federal Reserve held interest rates steady but maintained its projection for two rate cuts later this year, providing a temporary lift to risk assets.

The market continues to turn bearish, with Bitcoin briefly dropping below $77,000 before bouncing back above $80K and currently trading at $83K.