Plus: One company's bug crashed half of the internet

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GM. Crypto news can peel away your patience, but we're here to add some zest back in.

Let's get straight to the juice:

🍍 Mood is low;

🌐 When the web stops working;

🍋 Kraken expands, Bitfury shifts to tech investing + more

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🍍 Market flavor today

Find out more about the Fear & Greed Index here.

Name		Price	24H	7D
Crypto Market Cap: $3.07T -3.99% (24H)
	Bitcoin BTC	$89,304.79	-3.99%	-12.75%
	Ethereum ETH	$2,919.24	-6.61%	-15.50%
	XRP XRP	$2.06	-6.84%	-12.60%
	BNB BNB	$883.89	-5.16%	-7.28%

Prices as of 12:00 PM EST. Click here to see live data.

Bitcoin might as well get some Apple Bottom jeans and boots with the fur, because next thing you know, it got low, low, low, low, low, low, low, low.

(Below $90K, to be exact.)

Part of it was the vibe. We've had weeks of slow bleed, fading momentum, and traders derisking.

Then you had the ETF moment. BlackRock's IBIT - the most respectable, khakis-and-a-pressed-shirt Bitcoin ETF - saw $523.2M in outflows. Its biggest ever.

Crypto ETF flows table

Source: Farside Investors

The macro backdrop didn't help either.

Rate-cut expectations decreased again, which always puts a little pressure on risk assets.

Nothing dramatic, just enough uncertainty to make crypto traders lean back in their chairs instead of forward.

Fed rate hike odds chart

Source: CME FedWatch

And that's really the story today. No villains, no disasters, no grand theories. Just a bunch of small factors nudging Bitcoin a little lower than usual.

Now the question is simple: was that an apple bottom... or are we about to go even lower, lower, lower, lower?

TBD.

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🚨 Last call

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🥝 Memecoin harvest

Call your mom, your fave memecoin just did a 10x 📞

Data as of 09:33 AM EST.

Check out these memecoins and plenty more here.

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🌐 When the web stops working

Top 3 most annoying feelings:

Clicking "Skip Ad" and missing the button by 2 pixels;
Opening the fridge and realizing someone left one sip of milk;

Waiting for WiFi, staring at your phone while nothing loads.

And this week, the entire internet got a taste of that last feeling - dialed up to boss level - when Cloudflare went offline and took a giant chunk of the web down with it.

Coinbase froze. X froze. Even ChatGPT tapped out.

If your phone felt useless for a few minutes, it wasn't you - it was the internet taking a sick day.

So, what happened?

Cloudflare's "bot management" system (basically the digital bouncer that decides who gets in) broke. A database file got overloaded, the system choked, and then millions of sites were told "no entry."

Now here's the part crypto actually needs to pay attention to: a bunch of "decentralized" apps and exchanges went down right along with everything else.

Cloudflare blames database error for outage that took down 20% of the internet