Bitcoin’s “Max Pain” Estimated Between $73K and $84K

Bitcoin's bottom estimated between 73k-84k

Bitwise European head of research André Dragosch said Bitcoin’s “max pain” zone resides between two critical cost-basis levels: BlackRock’s IBIT at $84,000 and MicroStrategy’s near $73,000.

Dragosch argued that a final cycle bottom is most likely to form somewhere between these levels, describing them as “fire-sale” prices that represent a full reset of market positioning.

The cost basis of IBIT, BlackRock’s spot Bitcoin exchange-traded fund (ETF), reflected the average price at which the ETF acquired its BTC holdings. When the price approaches this threshold, sentiment often deteriorates because ETF holders begin to evaluate whether continued drawdowns justify redemptions.

Aave retail yield app coming

Aave, the largest decentralized crypto lending platform, is launching a consumer yield app, opening waitlist on Apple's App Store.

With the Aave App, users will be able to earn up to 6.5% annualized yield, higher than money market funds, leveraging Aave's infrastructure lending protocol, and can deposit funds from bank accounts, debit cards or in stablecoins. It also offers "balance protection" on deposits up to $1 million.

See full blog post: https://aave.com/blog/introducing-aave-app-smarter-way-to-save

$1 billion Ethereum DAT suspended

The Ethereum DAT project, led by Li Lin, Shen Bo, Xiao Feng, and Cai Wensheng, has been suspended, with approximately $200 million in funds returned. The initiative initially planned to purchase around $1 billion in ETH through a Nasdaq shell company structure, with funding including $200 million from Avenir and approximately $500 million from Asian institutions. Industry insiders suggest the suspension may be linked to the market downturn following the '1011 incident' and the decline in stock prices of several DAT companies. It remains uncertain whether the project will be restarted, but stakeholders emphasize prioritizing investor interests and will continue to monitor market conditions.

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