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BitMEX co-founder Arthur Hayes has predicted that Bitcoin will “test” $100,000 and Ethereum will drop to $3,000, just hours after unloading over $13 million worth of crypto assets, according to on-chain data. His market outlook, tied to worsening macroeconomic indicators and a potential U.S. tariff bill, has sparked conversation across the industry ahead of his scheduled keynote at WebX Asia in Tokyo later this month. The move came to light after Lookonchain, an on-chain analytics platform, posted on X that Hayes had sold large quantities of Ether (ETH), Ethena (ENA), and PEPE tokens in a short window. The transactions, executed within six hours, sent clear signals of a major repositioning by one of the most closely followed voices in the crypto space. Arthur Hayes’ transfer history. Source: Arkham Intelligence Hayes explains his bearish sentiment on the macro picture In a follow-up post on his personal X account , Hayes addressed speculation about the liquidation. “US Tariff bill coming due in 3Q … at least the market believes that after NFP print. No major economy is creating enough credit fast enough to boost nominal GDP. So $BTC tests $100k, $ETH tests $3k,” he wrote. Y? US Tariff bill coming due in 3q … at least the mrkt believes that after NFP print. No major econ is creating enough credit fast enough to boost nominal gdp. So $BTC tests $100k, $ETH tests $3k. Come see my @WebX_Asia Tokyo keynote Aug 25 for more info. Back to the beach. https://t.co/zuHlwgQKC7 — Arthur Hayes (@CryptoHayes) August 2, 2025 The reference to the U.S. Non-Farm Payroll (NFP) report, which showed a sharp slowdown in job creation, with only 73,000 new jobs added in July. Hayes points to those underwhelming numbers as the reason for his concerns around waning economic momentum. In his view, the combination of weak labor market data and the expiration of U.S. tariff suspensions in Q3 signals a slowdown in credit creation that will weigh heavily on nominal GDP growth. Hayes argues that in such an environment, speculative assets like crypto will face significant pressure. Sell-off spurs market speculation In total, Lookonchain estimates Hayes sold 2,373 ETH, worth about $8.3 million, 7.76 million ENA valued at $4.6 million, and 38.86 billion PEPE, worth approximately $414,000. The speed and size of the transactions were seen as noteworthy, especially given the relatively low liquidity in altcoins like ENA and PEPE. However, not everyone believes the sales signal panic. Some analysts argue that the BitMEX co-founder is simply capitalizing on recent price rallies while preparing for potential downside risk amid macro turbulence. Hayes has promised to unpack his outlook in full during a keynote address at WebX Asia in Tokyo on August 25, one of the most anticipated conferences in the Asian crypto calendar. The timing of Hayes’ market commentary is also crucial. Should the BitMEX co-founder’s macro predictions prove correct, traders may see a major correction before fresh capital enters the space, particularly from institutional investors. For now, his forecast points to the growing influence of macroeconomic policy on digital asset markets. Want your project in front of crypto’s top minds? Feature it in our next industry report, where data meets impact.
The altseason fanfare remains on the rise despite a broad altcoin rally two weeks ago that has quickly evaporated in a wider market correction. As investors continue to await a potential rebound from these price dips, a popular analyst with X user PlanD has highlighted the two crucial signals that may initiate an altcoin market surge. Related Reading: Ethereum Drops 6% After Hitting $3,800, But Analysts See New ATH Ahead Ethereum And USDT Market Key To Altseason Future In an X post on August 1, PlanD shared an in-depth technical analysis of multiple markets, including Bitcoin (BTC), Ethereum (ETH), Bitcoin Dominance (BTC.D), and USDT Dominance. In studying the ETH market, PlanD highlights that the prominent altcoin faces major resistance at the $4,000, which has acted as the upper resistance level of a three-year symmetrical triangle. According to the presented analysis, Ethereum’s ability to effectively hold above the $4,000 price barrier is the first important developing situation for the altseason. Being the largest altcoin with a market cap of $424.48 billion, a successful breakout beyond this familiar price ceiling would encourage a rally by lower-cap alts to potentially initiate an altseason. Meanwhile, PlanD also draws attention to the USDT Dominance chart, which has just registered the breakout of a bearish flag. While there is potential to retest the breakout point at 4.71%, the analyst tells investors to monitor a potential fall to 3.81% which aligns with the breakout of a 1.5-year descending triangle and 3.21% i.e., the price target of the bearish flag. In particular, PlanD states a fall in USDT Dominance to 3.21% which suggests significant rotation of capital to other volatile assets is the “strongest signal” for an altcoin rally. Related Reading: If Dogecoin Loses This Level, Expect A Major Crash: Analyst Warns BTC.D Potential Rise Possesses Risk To Altcoin Market In analyzing the Bitcoin Dominance chart, PlanD notes this metric has twice successfully retested a key support at a three-year rising wedge at 60.30%; therefore, there is intense potential for a rebound. The top analyst notes that if BTC.D rises to retest the pivotal market levels at 64.60% and 64.80%, the altcoin market may see a general price loss ranging from 10%-20%. Meanwhile, PlanD is also backing Bitcoin to maintain its bullish form in the coming weeks with a projected price target of $160,000. Interestingly, the trading expert notes that there are two paths to this price, noting that Bitcoin may first find support at the $113,000, propelling a rebound beyond $118,700 and an eventual surge to $160,000. Alternatively, Bitcoin’s present correction may halt around $108,000 before rising towards the specified bull target. In this case, altcoins may also witness an initial 10-20% widespread price decline. Featured image from MEXC Blog, chart from Tradingview
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Crimes involving cryptocurrency are worryingly on the rise, becoming ever more aggressive and, as in this case, quite shocking. Regardless of whether alleged or not, this is the harsh reality we are currently facing in this day and age. Pleading Not Guilty According to a story from Fox News, two culprits are accused of torturing an Italian millionaire in his apartment in New York, reportedly over a stash of $100 million in Bitcoin, and one of them was released after spending two months in the Rikers Island prison. The discharged is John Woeltz, 37, on the condition of a $1 million parole, with the release coming a week after a Manhattan judge granted bond for him and an alleged accomplice, William Duplessie, aged 33. Both have pleaded not guilty, and the latter has remained in custody. The duo is accused of kidnapping and tormenting Italian crypto trader Michael Valentino Teofrasto Carturan. The defense attorneys on the case stated that the alleged torture very closely resembled a “fraternity-like rite of passage.” Woeltz’s attorney, Wayne Gosnell, noted the following in a previous hearing: “Mr. Carturan was there in the role of a pledge, he was essentially being hazed.” The alleged torturer, who was released and is also involved in cryptocurrency trading, evaded questions about whether he actually carried out the claims against him, and how he felt to be freed from custody as he was walking out of the Supreme Court building in Manhattan. As a condition to his release, the sum of which, reportedly, was a combination of cash and property put up by his father, he is subject to home arrest with an electronic monitoring bracelet. He will only be allowed to leave the premises of his home for doctor’s appointments, meetings with lawyers, or in the event of an emergency. Violent and Graphic Prosecutors stated in court that the duo kidnapped Carturan and tortured him for over three weeks, supposedly relieving him of his phone and passport. The attorneys further note that both Duplessie and Woeltz reportedly had a manifesto prepared with how they plan to steal the prisoners’ cryptocurrency. “Informant further states that the defendant and unapprehended male demanded that Informant provide the defendant with Informant’s wallet password so that the defendant and unapprehended male could take Informant’s Bitcoin,” a criminal complaint states. When the victim refused to provide the password to his crypto holdings, the two detainees allegedly subjected him to “physical beatings, in addition to, but not excluding, using electric shock, lacerating his head with blunt force from a firearm, and pointing said firearm at the Informant’s head several times. Further, the captive was dragged to the top of a flight of stairs, hanged over the ledge, and threatened with losing his life.” The authorities further added that there were threats against the 28-year-old hostage’s family in Italy, while he was, supposedly, humiliated by having people urinate on him and by Woeltz forcing him to take drugs. Both defendants are due to appear in court on October 15th. The post Alleged Bitcoin Torture Suspect Freed on $1M Bail After 2 Months in Custody appeared first on CryptoPotato .
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The Bitcoin network mining difficulty reached an all-time high (ATH) of 127.6 trillion this week, representing increased competition for miners. The record may prove short-lived, however, as the difficulty is projected to decrease by around 3% to 123.7 trillion in the next adjustment on August 9, CoinWarz statistics indicate. This change in difficulty is in quick alignment with the average block time at 10 minutes and 20 seconds, slightly higher than the protocol target of 10 minutes. Why Mining Difficulty is Important Mining difficulty determines how difficult it is for the miners to come up with a valid hash for the next Bitcoin block. It is reset every 2,016 blocks to ensure new blocks around every 10 minutes regardless of the network’s amount of computing power (hashrate). A rising difficulty can strangle miner profitability, especially if Bitcoin’s price does not increase alongside. Conversely, a decline in difficulty gives miners temporary respite since rewards become easier to obtain with the same hardware. Hashrate and Difficulty: A Balancing Act Hashrate — i.e., aggregate computing power keeping the Bitcoin network secure — is strongly correlated with difficulty. When additional miners join, difficulty increases to maintain block time consistency. Difficulty decreases when miners leave in order to avoid production slowdown. After its drop to 116.9 trillion in early July, the difficulty kept moving along in late July, consistent with rising hashrate levels. Stock-to-Flow and Bitcoin’s Scarcity The stock-to-flow ratio of Bitcoin lies at its core. Bitcoin, with 94% of all BTC having been mined, enjoys a stock-to-flow ratio of approximately 120, which is twice gold with its ratio of 60. Scarcity through controlled issuance is the antidote to price volatility caused by oversupply. Difficulty adjustment mechanism ensures price inelasticity to production, a feature that makes Bitcoin structurally different from most commodities. Conclusion While the Bitcoin mining difficulty lately hit a record high, the projected August dip gives miners temporary respite. In the long term, the adjustment mechanism remains central to sustaining the fixed issuance schedule of Bitcoin, upholding its scarcity, and enhancing its store of value status as a deflationary digital currency.
Cryptocurrency intelligence platform Arkham has uncovered the largest Bitcoin theft in history, which has never been publicly disclosed. Arkham's analysis of on-chain data revealed that 127,426 BTC were stolen from a China-based mining pool called LuBian in December 2020. This amount was worth approximately $3.5 billion at the time, and its current value is approximately $14.5 billion. LuBian was a large mining pool with facilities in China and Iran that controlled approximately 6% of the global Bitcoin network as of 2020. However, it appears to have lost more than 90% of its BTC holdings in the attack that occurred on December 28, 2020. In the following days, approximately $6 million worth of BTC and USDT was stolen from a LuBian address active on the Bitcoin Omni layer on December 29. On December 31, LuBian moved his remaining assets to recovery wallets. Related News: Market Prophet Tom Lee Shares His Bullish Prediction on Ethereum (ETH) Price Neither LuBian nor the hacker has publicly acknowledged the incident to date, so Arkham's research marks the first documented case of this massive attack. Following the attack, LuBian sent OP_RETURN messages to the hacker addresses, demanding the return of the stolen BTC. These messages were transmitted in 1,516 separate transactions, totaling 1.4 BTC. Experts believe this intensive effort undermines claims that another hacker obtained the private keys through brute-force. Research indicates that LuBian used weak algorithms in private key generation, which may have paved the way for the attack. LuBian managed to preserve the remaining 11,886 BTC (currently worth approximately $1.35 billion) from the attack. However, the 127,426 stolen BTC remain under the hacker's control. The last movement of these wallets was recorded as a consolidation transaction in July 2024. The LuBian attack, with a volume of $3.5 billion at the time of the transfer, became the largest cryptocurrency theft ever recorded. Today, the attacker holds $14.5 billion in BTC, making him the 13th largest Bitcoin holder in the world, according to Arkham data, ahead of even the Mt. Gox hacker. *This is not investment advice. Continue Reading: BREAKING: The Largest Bitcoin Hack Ever, Unreported to the Public, Has Been Revealed – Unbelievable Figures Are Being Discussed