Brief update｜Saturday evening: 67k broken—just log it for now; don’t treat the low or the joint letter as settled

Source: @timestampDAO Follow the timeline (today, 08:00 → 18:00, Singapore time) | Information sharing, not investment advice.
【Evening update】Approximate Binance spot prices when this was posted: BTC around 67,277 (down about 3.1% over 24 hours, high around 70,214, low around 66,456), ETH around 1,909 (down about 2.4%, low around 1,878), SOL around 75.8 (down about 5.8%, low around 74.9). Prices had already fallen below 67,000 during the day, reaching lows around 66,400; this evening’s rebound is still hovering near 67,200. Just logging the numbers for now—don’t write the low down as a confirmed bottom, or make it sound like the joint shareholder letter has put the handover behind us.
I. Key topics
1. Joint shareholder letter: asks that options, including Jensen Huang's return, remain on the table
Brad Gerstner of Altimeter and Gavin Baker of Atreides sent a joint letter to Nvidia's board, urging it to proceed carefully and keep all options open, including Jensen's return. Altimeter says Nvidia is its largest holding (about 9.41 million shares, worth nearly $1.9 billion, or around 20% of its portfolio). As of 12:56 Beijing time, the independent “Stand with Jensen” website showed about 46,864 signatures (the public list includes Elon Musk, He Yi, Garry Tan, and others; the site does not verify identities, and impersonations and pranks have already appeared on the list). Musk also suggested that some board members have poor résumés and don't seem to understand AI or graphics cards. The joint letter and petition reflect the views of shareholders and the public; they are not a new company announcement. Don't present Jensen's return as settled or say that “the AI trade is over.”
2. Bitcoin fell below 67,000 during the day, hitting a low of around 66,400
CoinGecko said Bitcoin fell below $67,000, down about 12% over the past week. Some analysts put the recorded low at around $66,400 and the 30-day decline at around −18%; Ahr999 fell to 0.34, back in undervalued territory. But the dip-buying window has only been open for a week in this cycle, which doesn't mean a bottom has been confirmed. KillaXBT laid out just two scenarios: the bottom has never been confirmed and a new low is still ahead, or this is a brutal 23% shakeout. blknoiz06 said they couldn't believe there had been almost no rebound. In the evening, Jiang Zhuoer asked whether the bull market was still intact after six consecutive weekly declines and repeated breaks below the short-term holder cost basis, the 200-day moving average, and the 50-week moving average—and whether the price could fall below 57,800. These are others' frameworks and questions; note them, but don't treat them as trading conclusions here. Don't automatically frame the break below 67,000 as proof that the bottoming process is complete, or present 57,800 as a move that has already happened.
3. ETH: buying on-chain on one side, selling on the other
Lookonchain reported that ShapeShift founder Erik Voorhees used 4.75 million USDT to buy 2,504 ETH at around $1,896; “7 Siblings” bought another 9,766 ETH (about $18.88 million, at an average price of around $1,933); and the address 58bro.eth bought back 10,501 ETH over the past two days at an average price of around $1,978. On the other side, a wallet associated with the Ethereum Foundation sold another 1,000 ETH within an hour, bringing sales over the past five days to 5,000 ETH (at an average price of around $1,983.5). Separately, nine addresses belonging to the “Iron Head” long trader held long positions worth about $155 million in total (including around 60,800 ETH and 600 BTC), with unrealized losses of about $44.06 million. Record the buys and sells side by side; don't draw a one-sided conclusion.
4. Binance: withdrawals have been reopened on 87 networks this week, with all remaining networks targeted for restoration by the end of next week
The official announcement said withdrawals have been reopened on 87 networks this week, with the goal of restoring all remaining networks and assets by the end of next week. Wu Blockchain added that these include APT, HYPE, LTC, NEAR, ADA, AVAX, and others. Traffic is high during the restoration period, so some withdrawals may be delayed.
5. Pump.fun continues selling SOL
Lookonchain said Pump.fun deposited another 64,666 SOL (about $5.19 million) to Kraken around seven hours ago, bringing its total sales to 5,618,499 SOL (about $887.6 million, at an average price of around $158). Some also noted that when Bitcoin rose above 66,000, certain altcoins such as PUMP showed relatively little volatility, suggesting that altcoin liquidity is being drained.
Other high-engagement but mostly mood-setting items: Musk continues to post updates about Starship Flight 15, saying the spacecraft is circling Earth about once every 90 minutes; a future flight is planned to carry more than 50 Tb/s of Starlink bandwidth. Cursor published details and remediation notes about a recent security incident.
II. Frequently mentioned (tickers)
- BTC — Fell below 67,000 during the day, bottoming around 66,400; down about −12% over the past week
- ETH — Large buys near 1,900; a wallet associated with the Foundation continues to sell
- SOL — Pump.fun continues depositing coins to exchanges and selling
- NVDA — Joint shareholder letter and the “Stand with Jensen” petition
- PUMP / HYPE — Some have noted that certain altcoins are holding up relatively well; HYPE is included on Binance's withdrawal list
- MSTR — Some continue to cite MSCI exclusion, the hack, and the Jensen Huang incident together as ongoing headwinds
III. Worth a look
- Joint letter from Altimeter / Atreides: https://x.com/Michaelzsguo/status/2121407599010623923
- “Stand with Jensen” petition with around 47,000 signatures: https://x.com/BlockBeatsAsia/status/2121469016342663496
- Musk hints at board members' résumés: https://x.com/_FORAB/status/2121506963767091547
- BTC falls below 67,000: https://x.com/coingecko/status/2121455909385748710
- Low near 66,400 and Ahr999: https://x.com/HaibaraCrypto/status/2121466114144440707
- Two scenarios: https://x.com/KillaXBT/status/2121410683212321229
- Is a six-week losing streak still a bull market? https://x.com/Jiangzhuoer2/status/2121520697034133717
- Binance reopens withdrawals on 87 networks: https://x.com/binance/status/2121452596171010552
- Voorhees buys ETH: https://x.com/lookonchain/status/2121465585724997997
- Pump.fun continues selling SOL: https://x.com/lookonchain/status/2121458753396678758
The selection criteria focus on tracking flow and observing market structure, not giving trading signals. The above is an information summary and does not constitute investment advice.
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