Today in crypto: Crypto market participants aren’t fearful enough yet to call a market bottom, Bitcoin maximalist and analyst warns investors not to sell BTC for gold. Meanwhile, a user lost nearly $50 million in USDt after copying a poisoned wallet address from transaction history.
Crypto market ‘isn’t scared enough’ to call a bottom yet: Santiment
Crypto traders have not yet shown enough fear on social media to confirm a market bottom, according to a crypto analyst who suggested Bitcoin could still slide to around $75,000.
“It looks very tempting to come even closer to it,” crypto market sentiment platform Santiment founder, Maksim Balashevich, said on a video published to YouTube on Friday.
A move to that level would represent an approximate 14.77% drop from Bitcoin’s current price of $88,350, according to CoinMarketCap.
Balashevich explained that his hesitation comes from observing significant optimism online that the downtrend will reverse in the near term, which he said is not usually the case when a true market bottom is forming.
Bitcoin maximalist and analyst warns investors not to sell BTC for gold
Bitocin (BTC) is a better long-term store of value than gold, according to Bitcoin maximalist, educator and market analyst Matthew Kratter, who warned Bitcoin investors not to sell their BTC to get in on gold, which is trading at all-time highs above $4,300 per ounce.
BTC has superior monetary properties, including a maximum supply of 21 million coins, greater portability, divisibility down to nine decimal places, and is easier to verify, Kratter argued. He said:
“Gold supplies have increased somewhere between 1-2% annually for decades, if not for centuries. Now, this may not seem like a lot, but it leads inevitably to gold supplies doubling every 47 years.”
The comments came as BTC continues to trade below $90,000 and risks erasing all gains made in 2025, while gold records gains of over 67% over the last year.
How a single copy-paste mistake cost a user $50M in USDt
A single transaction error led to one of the largest onchain losses seen this year, after a user mistakenly sent nearly $50 million in USDt to a scam address in a classic address poisoning attack.
According to onchain investigator Web3 Antivirus, the victim lost 49,999,950 USDt (USDT) after copying a malicious wallet address from their transaction history.
Address poisoning scams rely on look-alike wallet addresses being inserted into a victim’s transaction history via small transfers. When victims later copy an address from their transaction history, they may unknowingly select the scammer’s lookalike address instead of the intended recipient.
Onchain data shows the victim initially sent a small test transaction to the correct address. Minutes later, however, the full $50 million transfer was sent to the poisoned address.
