Agoraflux
$BTC BITCOIN DAILY TF UPDATE:
BITCOIN broke the small channel pattern, retraced slowly, and moved up, holding over the $70,000 area. Now, we need to see where the weekly candle closes. Bullish moves are expected based on the price action, but fundamentals might work against us, so proceed with caution.
🔴 Update: Trump’s $WLFI $WLFI token has plunged 12%, hitting record lows after World Liberty Financial justified borrowing $75M in stablecoins using its own governance token as collateral on Dolomite.
🔸Mechanics: WLFI staked its token, borrowed stablecoins against it, and emptied Dolomite’s USD1 pool, leaving other depositors locked out of withdrawals.
🔸Defense: The project argued that even in sharp market downturns, it could “simply add more collateral.” That collateral, however, is more WLFI itself.
🔸Positioning: WLFI acknowledged the transactions, portraying itself as an “anchor borrower” that supposedly generates yield for others.
🔸Numbers: WLFI now trades about 48% below its six‑month average buyback price of $0.1507. Over that period, the project spent $65.58M on 435.3M tokens in open market purchases.
🔸Problem: As WLFI’s price falls, each token supports less borrowing power. That forces the protocol to pledge more WLFI, deepening exposure to a declining asset and making it harder for depositors to exit.
Reached the end