Odaily Planet Daily News — David Hoffman, co-founder of Bankless who previously announced he had liquidated all his ETH, shared his latest market views. He noted that Bitcoin’s price is currently sitting precisely on the 200-week moving average (MA), a key long‑term trend gauge. A retrospective look at crypto history shows that BTC only convincingly broke below this moving average during the vicious bear market phase driven by the successive blowups of Terra, Three Arrows Capital, and FTX. That period triggered industry‑wide cascading liquidations and is widely regarded as one of the most destructive systemic crises the market has ever endured.
According to Hoffman, the market risks originating from instruments such as the convertible bonds issued by Michael Saylor’s Strategy (formerly MicroStrategy) are nowhere near as harmful as those sequential collapses. He therefore argues that the current environment is highly unlikely to produce another FTX‑style systemic meltdown.
Hoffman also once again disclosed his entry cost bases for several holdings: NEAR was accumulated at approximately $1.4, HYPE at around $45, and ZEC at about $560. These figures offer a glimpse into the long‑term positioning of a well‑known industry voice.