Bitcoin spends 96% of its life below its all-time high. Almost the entire return is made in the other 4%, in short violent bursts most holders never wait around for. I explore every drawdown in Bitcoin’s history, and what the data says actually happens next👇🏼

Some people spend their lives searching for purpose. Trish lived hers. Today we honor Patricia "Trish" Neuenschwander—a beloved member of the ICAN family whose courage, compassion, and tireless dedication to protecting children touched countless lives. We are grateful to have known her, to have worked beside her, and to carry forward the mission she cared so deeply about. Read our tribute and learn more about her remarkable life below.❤️ With love, @delbigtree @AaronSiriSG @CatharineLayton @patrick_layton @lindeymagee @HighWireTalk

Data is the lifeblood of DeSoc ⚡ Love seeing @web3bio bringing visibility to the growth of ENS, Basenames, Linea Names & the wider identity ecosystem. Identity is no longer siloed—it’s a portable, cross-chain social graph you actually own 🌐 The future of DeSoc is composable, interoperable, and human-readable 🚀

Software was up 5% today and semis were down 5%. Going back 25 years, this was the best day software has ever had relative to semis. The lifeblood blood of a bull market is rotation and we continue to see it.

It's a great honor to be asked to sing for Rio--for my whole career the fans in Brazil have been part of the lifeblood of the little monsters. I've been dying to come perform for you for years and was heartbroken when I had to cancel years ago because I was hospitalized. Your understanding that I needed that time to heal meant the world to me. I am now coming back and I feel better than ever and am working so hard to make sure this show is one you will never forget. Get ready for MAYHEM on the beach.

$ASST is doing something pretty insane right now. Over the last 10 trading sessions, the ASST + SATA complex traded about 1.74x more of its Bitcoin-stack value per day than MSTR + STRC. Over the last 5 sessions that jumps to roughly 1.98x. Today? About 2.85x. That matters because Strategy’s BTC stack is still vastly larger, but liquidity is the lifeblood of a Bitcoin treasury company. If your securities trade huge relative to the size of the underlying stack, you have the raw market plumbing to raise capital, feed the treasury, and compound faster than your balance sheet size alone would imply. In plain English: Strive is punching WAY above its weight. The market is treating ASST like an amplified Bitcoin vehicle with real sponsorship, real reflexivity, and real appetite. MSTR is still the giant, but on a stack-adjusted liquidity basis, ASST has been an absolute freak. That’s exactly the setup you’d expect to see before a smaller Bitcoin treasury name starts forcing people to completely re-underwrite what it’s capable of becoming.

No matter whether the $300 billion comes from the US or the Gulf countries, it would be a grave mistake. A rebuilt and reinvigorated Iranian regime would be far more dangerous than the one we face today. The greatest lesson of 40+ years of US–China relations is this: the US should never have extended economic support to the Chinese Communist Party before a Regime Change. The same lesson now applies to US–Iran relations. Totalitarian regimes such as China, North Korea, Cuba, and Iran are like vampires. Invite them through the door, and they will feed on the free world's lifeblood — its innovation — until the well runs dry. With every feeding, their toxins spread, and the free-market economy itself gradually begins to rot from within.