SGC

🐋 Strive bought the dip and now holds 32,773 BTC Nasdaq-listed asset manager Strive (ASST) just dropped 3,311 BTC worth $280M, its biggest buy since January. They scooped the coins between October 5 and 9, while Bitcoin slid off recent highs near $87,000. While retail was panicking, these guys were vacuuming up cheap coins. ▪️ Who: run by CEO Matthew Cole, trades as ASST. Went public through a merger with Asset Entities, then bought Semler Scientific to pump up the balance sheet. ▪️ When: Monday's report showed the buying ran from October 5 to 9 at an average price of about $84,500 per coin, fees included. ▪️ Ramp-up: at the end of September they spent $94.5M to take the stack to 27,000 BTC, then early this month added another $169M, their biggest accumulation in four months. ▪️ Stack grew from 29,462 BTC a week earlier to 32,773 BTC now. ▪️ On top of the coins, they hold about 505,000 STRC preferred shares from Strategy. So it's another bet on the same story, just wrapped in a different ticker. ▪️ Same picture across the sector: Strategy added $21.5M in BTC while buying back its preferreds. DeFi Development Corp keeps stacking SOL, and Bitmine is loading up on ETH. 📊 Stack value at current prices: $2.73B 📊 Cash on balance sheet: $310M 📊 STRC package: about $50M Classic treasury company playbook: raise capital, accumulate the coin, and tie the stock price to BTC. While Bitcoin climbs, it's a rocket. When it sags, the stock premium starts looking very suspicious. Regulators are already eyeing how well these premiums hold up without constant buying. Buying the dip only pays off on a bounce. Otherwise you're left holding the bag. 🔮 Who becomes exit liquidity when the buying stops? @sgceng

🐋 Two whales, one Monday: an OG Bitcoin stack wakes up while another whale eats a loss to dump BTC A Bitcoin wallet that had sat frozen since August 2024 just moved its entire 4,582 BTC ($377.6M) in one go, per Lookonchain. Same day, a second whale swallowed a $5M loss to dump 837.8 BTC and rotate into 27,500 ETH, routed so convolutedly a tax accountant would need a sedative. ▪️ The OG stack: 4,581.94 BTC landed in a single transfer on Aug. 7, 2024, then sat there for more than two years. ▪️ At 6:37 p.m. UTC on Oct. 12 the full balance left in one transaction, split into five pieces and sent to fresh addresses with zero history. Clean wallets, clean slate, zero fingerprints. ▪️ As of Tuesday morning, not a single satoshi had been spent. Analysts call the split custody restructuring or an OTC desk warming up to sell. Not panic. Nobody in this market panics that neatly. ▪️ Whale No. 2 (flagged by EmberCN) sold 410.1 BTC on Hyperliquid for about $34.13M in USDC and bought 13,527 ETH at $2,523. ▪️ The route: BTC into Hyperliquid, sold for USDC, USDC withdrawn to Arbitrum, bridged to Ethereum, then swapped for ETH onchain. ▪️ The bleed: 410.1 BTC bought at $95,434 is about $39.1M, sold for roughly $34.1M. That's a realized loss near $5M, or 13%. Nobody takes a 13% haircut to cash out. 📊 OG wallet moved: 4,582 BTC ($377.6M) 📊 Whale No. 2 realized loss: ~$5M (13%) 📊 ETH bought by whale No. 2: 27,500 ($69.68M) 📊 Longs wiped Monday night: $406M ETH bulls are staring at the ETH/BTC ratio like it owes them money, and the ratio just broke a line they didn't want to see. Bitcoin dipped under $82,000 Monday night, vaporized $406M in longs, then bounced back above $83,500 on Tuesday, because somebody always needs a bounce to sell into. Bitcoin and ether ETFs bled $1.2B last week, so the institutional bid isn't carrying anyone, it's just standing there. Meanwhile Tom Lee's Bitmine has passed 6M ETH, close to 5% of supply, which is the corporate bid bulls wave at every time the ratio sags. Whether that bid holds is the only question that matters, and it's the one nobody on CT wants to answer. 🔮 Custody cleanup or a dump in disguise? Five clean addresses, zero spends. Somebody is cooking, and it isn't you. @sgceng

BTC sits on $83.5K after $140M in shorts got fried. Greed cools to 57 BTC is at $83,545.58 (-0.76% in 24h), ETH at $2,521.17 (-1.78%). Nearly $140M in bitcoin shorts got liquidated after BTC closed the week above $83K, so the idiots betting against it footed the bill for the week's first real move. Mood's still bullish, just less hammered than yesterday. ▪️ Top green: GTC +47.0% on $29M volume. Nobody says why it ran. Check the book before you chase a 47% candle, because the guy who pumped it doesn't need your money, he needs your bags. ▪️ Top red: W -32.9% on $42M. STRK -17.8% on $58M, ENA -12.9% on $65M. ENA has the most money behind its drop of the big losers, so that's where I'd dig first. ▪️ Kook Capital's heatmap shows a fresh cluster of bearish leverage between $86,000 and $88,000. That's the liquidation magnet sitting right above price, and it's bait for anyone who thinks the move is… ▪️ Hyperliquid whale went long 5.76M NEAR at $2.35 back in September, now sits on about $20.55M unrealized profit, and is short seven of the market's biggest coins. ▪️ Crypto liquidations hit $304M ahead of this week's US CPI and PPI. BTC dipped 1.5% to near $82,400 Monday afternoon, and analysts are watching $81,300 as support. Fear & Greed is at 57 (Greed), down from 69 yesterday. Euphoria is cooling, nobody's panicking yet. The real test is this week's CPI and PPI prints: a hot number with $304M already liquidated is how the next $140M gets shaken out. Break $81,300 and the longs who chased the weekly close become exit liquidity, and they'll be the last to figure out why. 🔮 Shorts got fried at $83K. Who's standing at $86-88K waiting to get squeezed next? @sgceng

📉 $304M in leveraged positions wiped out as Bitcoin slid ahead of CPI Bitcoin slipped 1.5% to near $82,400 on Monday afternoon and the leverage crowd paid its usual tax: 89,032 traders got liquidated in one day, per Coinglass. Nobody's catching this knife. Everybody's sitting on their hands and praying for the US CPI and PPI prints on Oct. 14 and 15. ▪️ Bitcoin is down 3.5% over seven days but still 6.7% above its Sept. 12 level. Call it a shakeout, not a collapse. It still ripped out the overleveraged, and that was the point. ▪️ Coinglass data: BTC longs took the biggest hit, but shorts got caught too. Pure leverage roulette, and the house collected from both tables. ▪️ About 1.45M BTC has its cost basis between $84,000 and $86,500 and sits at a small loss. Those holders will likely sell as price climbs back to their entry. ▪️ Only 69.6% of supply is in profit, below the 75% that usually shows up during sustained advances. Bitfinex says buyers are not coming back in meaningful size. So the rally is running on fumes. ▪️ The line in the sand is $81,300. Lose it again and the question becomes whether ETF outflows resume. Watch that level like your rent depends on it, because for some of you it does. ▪️ Dow +0.4%, Nasdaq -0.3%, Treasury yields near 5.24%, oil climbing. Total crypto market at $2.79T, down 1.82% in 24 hours. Stocks shrug, bonds flinch, and crypto gets to take the hit like always. 📊 BTC longs liquidated: $42.02M 📊 BTC shorts liquidated: $21.19M 📊 Supply in profit: 69.6% If you're long with leverage above $82K, congrats, you're exit liquidity for whoever actually has spot money. A hot CPI on Oct. 14 raises the odds of an October increase and pushes yields up, which is bad for BTC all over again. A soft print gives you a relief bounce, sure. But Bitfinex's own read is that good macro news only lifts bitcoin when spot buyers actually follow through. Right now they're not following. Nobody's chasing back in, and that's the whole story. 💬 «A higher-than-expected reading would raise the odds of an October increase and push Treasury yields up.» — Bitfinex market strategists 🔮 Who's stepping in under the 1.45M BTC underwater zone, and do they have the nerve to hold if $81,300 breaks? @sgceng