hodler

10 Jun 2026, 08:00

Years In The Making: Why The Bitcoin Price Is Headed To $220,000

Bitcoin has been forming a pattern for years now, and even with the uncertain price movements, this pattern has now finally be completed. This was explained by crypto analyst Bitcoin Teddy on the X social media platform, showing this pattern, how it was formed, and what the implications are for this formation on the Bitcoin price. The Mid-Year Cup And Handle Pattern That Was Years In The Making In the post, the crypto analyst pointed out that the Bitcoin price has completed a Cup and Handle pattern formation. Unlike some Cup And Handle patterns that are formed in a relatively short time, the analyst says this one has actually been forming for years, and now it’s finally ready to play out. Related Reading: Dogecoin Could Rally 300x And Cross $20, Analyst Claims This pattern was completed with the most recent Bitcoin retest of the $60,000 support. This support was broken briefly, but the price quickly recovered. What this suggests is the formation of the handle part of the pattern after the cup was completed over the years. To put this in perspective, the crypto analyst explained that three things needed to happen. These include the breakout, the retest, and a structure confirmation. The breakout was completed when the price recovered. Then, when the price crashed below $60,000, the retest was done. Now, the confirmation is in place as the Bitcoin price has begun to move upward again. What comes next is even more important since the completion of a Cup and Handle pattern has historically been a precursor to a bull trend. Related Reading: XRP Pundit Says Pay Attention To This Pattern That Everyone Is Missing As the analyst explains, the resulting price surge will not be something like a 20% breakout or so. Historically, a breakout from this pattern would see the price rise multiples of where it was when the pattern was finally confirmed. In this case, the resulting breakout is expected to send the Bitcoin price to new all-time highs. The minimum target placed with the analysis puts the top of this trend at $220,000, which would mean an almost 300% move from where the Bitcoin price is currently trading. What this means is that $220,000 could only be the start of this move if the momentum builds much higher than expected. Featured image from Dall.E, chart from TradingView.com

10 Jun 2026, 04:15

10x Research Sees Potential Upside for Bitmine Despite $10 Billion Unrealized ETH Loss

BitcoinWorld 10x Research Sees Potential Upside for Bitmine Despite $10 Billion Unrealized ETH Loss Bitmine, a publicly traded cryptocurrency investment firm, is facing an unrealized loss of approximately $10 billion on its Ethereum (ETH) holdings, according to a recent analysis from 10x Research. Despite this significant paper loss, the report suggests that the company’s stock may still offer upside potential that the broader market has yet to fully price in. Massive ETH Accumulation at a Premium Between July 2025 and June 2026, Bitmine executed an aggressive capital-raising strategy, issuing stock 50 separate times to raise a total of $19.2 billion. These funds were used to purchase 5,543,872 ETH — an amount equivalent to roughly 4.6% of the token’s total circulating supply. The average purchase price was approximately $3,526 per ETH. However, the market has since turned against the firm. Ethereum’s price has dropped to around $1,650, reducing the value of Bitmine’s holdings to approximately $9.1 billion. This decline has resulted in a paper loss of roughly $10 billion on the investment. Investors Paid a Premium to Net Asset Value 10x Research’s report highlights a critical factor compounding the losses: investors purchased Bitmine’s stock at a significant premium to its Net Asset Value (NAV). This premium, estimated at a total of $4.6 billion, meant that shareholders were paying more than the underlying value of the company’s assets. As the stock price has since corrected, this premium has largely evaporated. Why the Report Sees a Shift in Focus According to 10x Research, the key takeaway is not merely the size of the unrealized loss, but the market’s evolving perspective. With the stock price now significantly lower, the potential for a future recovery has become more important than the underlying asset value. The report concludes that Bitmine has entered a new phase where the market is beginning to look past the current NAV and toward the company’s ability to generate future returns, either through a rebound in ETH prices or through strategic pivots. This analysis suggests that for investors, the focus may shift from the immediate paper loss to the long-term viability and potential upside of Bitmine’s strategy. The company’s ability to navigate the current market downturn and capitalize on any future recovery will be critical. Conclusion While Bitmine’s $10 billion unrealized ETH loss is a stark reminder of the volatility inherent in cryptocurrency investments, 10x Research’s analysis indicates that the market may be overlooking a potential upside in the company’s stock. The report’s conclusion that Bitmine has entered a new phase, where recovery potential outweighs current asset value, offers a nuanced perspective for investors. The coming months will reveal whether this optimism is justified or if further headwinds await. FAQs Q1: What is an unrealized loss? An unrealized loss is a decrease in the value of an asset that an investor still holds. It only becomes a realized loss if the asset is sold at the lower price. Bitmine’s $10 billion loss is on paper, meaning it reflects the current market value of its ETH holdings compared to what it paid. Q2: Why did investors pay a premium to Net Asset Value (NAV)? Investors often pay a premium to NAV for investment trusts or holding companies if they believe the company’s management can generate returns above the value of its assets. In Bitmine’s case, the premium reflected market optimism about its strategy, which has since diminished as ETH prices fell. Q3: What does 10x Research’s report mean for Bitmine’s stock? The report suggests that while the stock has declined significantly, the potential for a future recovery — driven by a rebound in ETH prices or strategic changes — may now be more important than the current NAV. This could present an opportunity for investors who believe in Bitmine’s long-term prospects. This post 10x Research Sees Potential Upside for Bitmine Despite $10 Billion Unrealized ETH Loss first appeared on BitcoinWorld .

10 Jun 2026, 01:05

James Wynn’s 40x Bitcoin Short on Hyperliquid Partially Liquidated Again, Trader Holds Position

BitcoinWorld James Wynn’s 40x Bitcoin Short on Hyperliquid Partially Liquidated Again, Trader Holds Position A portion of the 40x leveraged Bitcoin (BTC) short position held by prominent Hyperliquid trader James Wynn has been partially liquidated, according to blockchain analytics platform Onchain Lens. Despite the liquidation event, Wynn has not fully exited the trade and continues to maintain the position, signaling a strong bearish conviction on the leading cryptocurrency. Details of the Liquidation Event Onchain Lens reported that the partial liquidation occurred on a 40x leveraged short position, which is an extremely high-risk strategy in the volatile crypto derivatives market. The exact size of the liquidated portion has not been disclosed, but the fact that Wynn is keeping the position open suggests he expects further downside in Bitcoin’s price. This is not the first time Wynn has faced such a setback; previously, after a full liquidation of a similar position, he opened a new 40x short worth 2.72 BTC. The pattern indicates a persistent bearish strategy despite repeated margin calls. Context and Implications for the Market James Wynn is a well-known figure in the Hyperliquid community, a decentralized perpetual exchange (perp DEX) that has gained popularity for its high-leverage trading options. His trades are closely watched by retail and institutional traders alike, as large positions can influence market sentiment. The partial liquidation of a high-leverage short position often leads to increased volatility, as forced buying to cover the position can temporarily push prices higher. However, Wynn’s decision to hold suggests he may be using a strategy of averaging into the trade or that he believes the liquidation was a minor setback in a larger bearish thesis. Why This Matters to Traders High-leverage trading on platforms like Hyperliquid carries significant risk, and events like these serve as a reminder of the dangers of over-leveraging. For the broader market, Wynn’s actions could be interpreted as a signal of bearish sentiment among sophisticated traders, especially if other large holders follow suit. However, it is important to note that individual trader behavior, even from notable figures, does not necessarily predict market direction. The partial liquidation also highlights the importance of risk management, as even experienced traders can face margin calls in volatile conditions. Conclusion The partial liquidation of James Wynn’s 40x Bitcoin short on Hyperliquid underscores the high-stakes nature of leveraged crypto trading. While the trader maintains his position, the event adds to ongoing discussions about market direction and the risks of excessive leverage. As Bitcoin continues to trade in a volatile range, the actions of key market participants like Wynn will remain a point of interest for the crypto community. FAQs Q1: What is a 40x leveraged short position? A 40x leveraged short position means the trader is betting that the asset’s price will fall, using 40 times their initial capital. This amplifies both potential profits and losses, making it extremely risky. Q2: Who is James Wynn? James Wynn is a well-known trader on the Hyperliquid decentralized exchange, recognized for taking large, high-leverage positions in Bitcoin and other cryptocurrencies. Q3: Does a partial liquidation mean the trade is failing? Not necessarily. A partial liquidation indicates that part of the position was automatically closed due to margin requirements, but the trader can still hold the remaining position and may even add to it if they believe their thesis is correct. This post James Wynn’s 40x Bitcoin Short on Hyperliquid Partially Liquidated Again, Trader Holds Position first appeared on BitcoinWorld .

9 Jun 2026, 18:05

Attacker drains $1.58M from Token of Power pool via Aragon DAO governance exploit

An attacker has exploited a governance misconfiguration in the Token of Power (TOP) Aragon DAO. They reportedly used majority voting power to mint tokens and drain roughly 944 WETH, which is worth around $1.58 million, from a Balancer V1 liquidity pool on Ethereum. Various blockchain security firms flagged the incident, relying on the effective vector, which showed that TOP’s total token supply was just 16,384 tokens, and the attacker held slightly more than half of them. How did the TOP token exploit work? TOP is a MiniMeToken governed through Aragon’s voting infrastructure. According to Blockaid’s analysis , the attacker accumulated 8,192.000001 TOP, and this was more than enough to help them to clear the 50% threshold needed to pass governance proposals unilaterally. As a result of the Aragon Voting app on TOP’s DAO having no timelock, the attacker was able to create a proposal, vote it through, and execute it within a single transaction. BlockSec Phalcon confirmed that the passed proposal minted a large quantity of new TOP tokens to the attacker’s address. The attacker then used those freshly minted tokens to drain the TOP/WETH Balancer V1 BPool, extracting 944.2 WETH. It was noted that Balancer’s protocol was not itself vulnerable. The pool was simply the place where the attacker converted inflated TOP holdings into WETH. How did the attacker move the funds? The attacker’s wallet, 0xff8eF7bC455a57e5893232203052Ce0232b39Fa2, was funded through Tornado Cash . The exploit was executed in a single transaction through a dedicated contract, per Blockaid’s on-chain breakdown. A textbook governance-takeover scenario The root cause of the exploit was not a smart contract bug in the traditional sense. TOP’s token has a relatively small supply and low market capitalization, which made acquiring a controlling stake cheap. When that was combined with Aragon’s voting configuration, which allows same-block proposal creation, voting, and execution, the attacker faced no major barrier between gaining majority power and draining funds. Aragon’s own documentation on DAO security highlights access controls and the importance of restricting who can call sensitive functions on smart contracts. In that same documentation, the organization stated that onchain functions are accessible by all by default and that authorized access “must be restricted to authorized addresses” when token minting or fund movements are involved. However, TOP’s configuration did not enforce a timelock or quorum delay that could have given other token holders time to react. What to watch Neither the Token of Power team nor Aragon has issued any statement concerning the exploit as of publication. While the stolen WETH is still traceable onchain, the Tornado Cash funding of the attacker’s wallet complicates recovery prospects. The incident is a reminder that governance parameters (timelocks, quorum thresholds, proposal delays) are not optional safety features for low-supply tokens with meaningful treasury exposure. The smartest crypto minds already read our newsletter. Want in? Join them .