In an otherwise quiet session - as one would expect for a Saturday, certainly the algos would - starting early this morning there has been concerted pressure to sell into the bitcoin spot price following yesterday's Warsh-inspired rout which repriced bitcoin from 88K to 84K, pressure which grew into a liquidation firehose just after 9am ET and especially at noon, when we saw massive algo-driven volumes hitting the bid. {chart} The selling has pushed Bitcoin as low as $74,000 (it was almost at $100K last week), and is at the lowest price since Trump became president (the April 2025 liberation day low of $74k was just ... (full story)