The past two weeks in crypto have felt like being hurled straight into deep winter.

BTC cooled in an instant, the countdown to quantum computing pressed in like a cold front, a billion-dollar DAT froze in delay, and Cloudflare’s six-hour blackout snapped half the internet into ice.

The air turned knife-cold. The market groped forward like it was trapped in polar night, pulling its coat tight, waiting for the next hint of warmth.

But no winter lasts forever.

The fiercest winds have already blown through.

The clearing cycle is nearing its end.

Stay standing. When the first breeze of spring arrives, you’ll still be here to catch it 🌞

Biweekly Highlights

🧣 Arthur Hayes: “Winter Is Coming — BTC Will Freeze at $80K Before Melting Up to $250K”

In his latest essay Snow Forecast, BitMEX co-founder Arthur Hayes argues that BTC plunged from $125K to $90K while U.S. equities stayed eerily steady. It’s as if the government sedated them with morphine.

Translation: somewhere in the system, credit is ripping, officials just haven’t admitted it yet.

His very Hayes-coded storyline:

• Dollar liquidity has been deflating since July.
• That usually signals some institution, nation, Ponzi, or megafund is running out of oxygen.
• When things get worse, the Fed will smash the “massive money-printing” button again.
• BTC could slide to $80K–$85K first.
• But once liquidity comes back, it’ll rip upward like a drowning man gasping his first breath.
• His target: $200K–$250K by year’s end.