Rate cut hopes are fading again

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GM. Crypto news can peel away your patience, but we’re here to add some zest back in.

Let’s get straight to the juice:

🍍 Mood is low;

🌐 When the web stops working;

🍋 Kraken expands, Bitfury shifts to tech investing + more

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🍍 Market flavor today

Name		Price	24H	7D
Crypto Market Cap: $3.07T -3.99% (24H)
	Bitcoin BTC	$89,304.79	-3.99%	-12.75%
	Ethereum ETH	$2,919.24	-6.61%	-15.50%
	XRP XRP	$2.06	-6.84%	-12.60%
	BNB BNB	$883.89	-5.16%	-7.28%

Bitcoin might as well get some Apple Bottom jeans and boots with the fur, because next thing you know, it got low, low, low, low, low, low, low, low.

(Below $90K, to be exact.)

Part of it was the vibe. We’ve had weeks of slow bleed, fading momentum, and traders derisking.

Then you had the ETF moment. BlackRock’s IBIT – the most respectable, khakis-and-a-pressed-shirt Bitcoin ETF – saw $523.2M in outflows. Its biggest ever.

Crypto ETF flows table

Source: Farside Investors

The macro backdrop didn’t help either.

Rate-cut expectations decreased again, which always puts a little pressure on risk assets.

Nothing dramatic, just enough uncertainty to make crypto traders lean back in their chairs instead of forward.

Fed rate hike odds chart

Source: CME FedWatch

And that’s really the story today. No villains, no disasters, no grand theories. Just a bunch of small factors nudging Bitcoin a little lower than usual.

Now the question is simple: was that an apple bottom… or are we about to go even lower, lower, lower, lower?

TBD.

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🚨 Last call

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🥝 Memecoin harvest

Call your mom, your fave memecoin just did a 10x 📞

Data as of 09:33 AM EST.

Check out these memecoins and plenty more here.

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Top 3 most annoying feelings:

Clicking “Skip Ad” and missing the button by 2 pixels;
Opening the fridge and realizing someone left one sip of milk;

Waiting for WiFi, staring at your phone while nothing loads.

And this week, the entire internet got a taste of that last feeling – dialed up to boss level – when Cloudflare went offline and took a giant chunk of the web down with it.

Coinbase froze. X froze. Even ChatGPT tapped out.

If your phone felt useless for a few minutes, it wasn’t you – it was the internet taking a sick day.

So, what happened?

Cloudflare’s “bot management” system (basically the digital bouncer that decides who gets in) broke. A database file got overloaded, the system choked, and then millions of sites were told “no entry.”

Now here’s the part crypto actually needs to pay attention to: a bunch of “decentralized” apps and exchanges went down right along with everything else.

Cloudflare blames database error for outage that took down 20% of the internet