Bitcoin’s historic losing streak

SBF says Bitcoin is no good (for payments). Market Activity Total Market Cap $1.27T (-1.45%) 24 Hour Volume 86.82 (+7.10%) Notable Movers[(GMT) $1.69]( (+60.49%) Notable Movers (DeFi)[(FTM) $0.39]( (+49,06%) Bitcoin Dominance 44.48%[(+0.03%)]( Bitcoin Price[(BTC) 29,604.97 (-1.78%)]( Ethereum Price[(ETH) $2,006.80 (-2.94)]( Cardano Price[(ADA) $0,56 (+1.47%)]( Today’s Top Stories Check out [CoinMarketCap Alexandria]( for tech deep dives, analysis, daily news and easy-to-understand guides on how crypto works! [Today’s Top Stories ] Kwon has a “revival plan” but Vitalik and CZ don’t dig it]( 🤔 In a new chapter of the “Terra has collapsed — now what” story, Do Kwon posted a “revival plan” on Terra’s forum. He proposed forking the blockchain and redistributing the tokens to preserve the community. But Vitalik and Binance CEO CZ tweeted veiled criticism, implying that Terra needs to put small users first if it wants to rescue its community. weekly losing streak continues]( Bitcoin is now 0 for 7 green candles in the last seven weekly closes. That is its worst weekly losing streak in history and the first time it has closed seven straight weeks in the red. However, analysts on Twitter pointed to indicators that whales see this zone as an accumulation one — so maybe this week Bitcoin ends its bad run? Bankman-Fried sees BTC not suitable for payments]( FTX CEO Sam Bankman-Fried stirred the Bitcoin maxi hornets' nest in an interview with the Financial Times. SBF said Bitcoin is not working as a means of payment because of its environmental footprint, something that proof-of-stake coins are better suited for. He also said Bitcoin holds promise as an asset and a commodity. Some commentators pointed out that SBF has been unusually critical of the space recently. wallet down on its BTC holdings]( 🤯 The Luna Foundation Guard published its BTC holdings — and the results aren’t pretty. Of the more than 80,000 BTC, only 313 BTC remain in the LFG wallet. The rest was spent on defending the UST peg (didn’t work) or swapped for LUNA to secure the network (now worthless). The Luna Foundation is now down $3 billion on its Bitcoin trade and probably won’t get to $10 billion in BTC again any time soon. Thanks for reading! Have a great day — more news tomorrow! [Facebook]( [Twitter]( [Instagram]( [Telegram]( Written by Molly Zuckerman and Connor Sephton Was this email forwarded to you? [Sign up here](. WANT MORE CRYPTO BITES? [Sign up here]( for Daily Newsletters, Promotions and Events and Prices [App Store]( [Google Play]( [ADVERTISE]( | [CAREERS]( | [FAQ]( © 2022 CoinMarketCap [Unsubscribe]( [coinmarketcap.com]( %SENDER-INFO-SINGLELINE%