Michael Terpin, a pioneering Bitcoin proponent whom CNBC has called “the Godfather of Crypto,” believes Bitcoin faces further downside before embarking on its next major uptrend. He outlined his perspective during a recent appearance on the David Lin podcast.
Bitcoin experienced a significant downturn on Thursday as traders reacted to elevated inflation figures and mounting geopolitical uncertainties affecting risk-sensitive assets. During Asian trading sessions, BTC was changing hands at $79,200, representing a 2.3% decline across the previous 24-hour period.
Japanese investment firm Metaplanet posted a net loss of 114.5 billion ($725 million) for the first quarter of fiscal 2026 after a sharp decline in Bitcoin prices triggered major accounting valuation losses. The company said the losses were largely tied to mark-to-market adjustments on its growing Bitcoin treasury holdings during one of the cryptocurrencys weakest quarterly performances in recent years.
The owner had been trying for eight weeks to brute-force the password on their current Blockchain.com wallet, testing roughly 3.5 trillion combinations using the btcrecover service on a rented computing chip.
Claude helped an X user recover 5 BTC from an old wallet after finding a backup file, raising fresh debate over AI crypto recovery and risks
Retail access is growing, though BTC still faces resistance near $80K.
Peter Brandt warned that bitcoin has not formed a recognizable bottom, citing a possible bear channel from the February low. His key trigger is an ATR close below $79,145, which he said could signal renewed downside.
MARA Holdings still has in its coffers 35,303 Bitcoin valued at roughly $2.84 billion, making it the fourth largest corporate Bitcoin holder in the world. But that position comes after the company sold a significant chunk of its reserves — and investors took notice.
Bitcoin price started a fresh decline below the $80,500 zone. BTC is consolidating and might struggle to stay above the $78,800 support.
KULR Technology Group sold 300 BTC, worth $24.36 million as losses hit $18.25 million.
The previous Bitcoin market top may not have been marked by a dramatic crash or obvious sell signal, but by a highly coordinated, sophisticated wave of whale distribution. While most participants were driven by optimism and bullish conviction, large holders were quietly offloading positions in a way that blended seamlessly into normal market activity.
Bitcoin is becoming an increasingly popular option for retirement planning as inflation continues to weaken the value of traditional pension funds across developed countries. Despite its well-known volatility, Bitcoin has delivered impressive long-term returns, gaining more than 166% over the past four years.