Gunden built his wealth as an early Bitcoin arbitrage trader on Tradehill and the now-defunct Mt. Gox, where he reportedly handled tens of thousands of BTC before the exchange collapsed in 2014. His recent moves align with a broader wave of retail selling, amplified by fears that the latest bull cycle may be nearing exhaustion.

Bitcoin price dumped yet again this morning in trading to lows of $86,610, down over 1% over the past 24 hours.

Bitcoin prices pushed lower on Thursday, November 20, extending recent losses as macro variables fueled weakness in the markets.

Rental Coins, a collapsed Brazilian crypto company, has filed for Chapter 15 bankruptcy in the U.S. to help it recover assets, Bloomberg Law recently reported. Chapter 15 is designed for cross-border insolvency cases, allowing foreign companies undergoing bankruptcy proceedings abroad to protect their U.S.-based assets.

Veteran trader Peter Brandt says Bitcoin may not reach $200,000 for four years, throwing cold water on many crypto executives’ end-of-year predictions.

The likelihood of bitcoin ending the year below $90,000 has risen to 50%, according to online options platform Derive.xyz, as traders ramped up hedging against more declines in the world's largest cryptocurrency.

As Bitcoin mining companies already own the high-end computing systems required in AI, they have found it convenient to abandon mining for AI. An energy and digital infrastructure company with operations in North America, the company has plans to wind down its Bitcoin mining business by 2027.

The split may stem from differing risk sentiment across regions. US selling is likely due to caution over macroeconomic signals, policy changes, or liquidity. By contrast, many Asian traders view dips as buying opportunities, either because of confidence in Bitcoin’s outlook or because of varied investment approaches.

Investors pulled roughly $523 million from BlackRock's flagship iShares Bitcoin Trust on Tuesday, according to data from Farside Investors, marking the fund's largest single-day withdrawal since its launch.

Liquidity has been draining out of the financial system, putting pressure on speculative assets like cryptocurrencies.

The crypto fear and greed index has dropped to 15, indicating "extreme fear" among traders. Similar to Bitcoin's volatility, even the sentiment of the crypto traders has been wild.