Greetings Bitcoiner,

Welcome to Issue #299 of Bitcoin Breakdown, where we’re bringing you your end of week Bitcoin Digest featuring all the need to know Quick Bits snippets and Quick Media.

But first, today’s Top Stories:

• 🥲 Over $1B Shorts Get Rekt As Bitcoin Smashes Through $118,600

• 🗑️ US Ditches Crypto Broker Rule, Non Custodial Platforms Win Big

• 🧂 Bukele Trolls ‘Salty’ Senate Democrats Over Bitcoin Investigation

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Jull 11, 2025

TODAY’S TOP STORIES

🥲 Over $1B Shorts Get Rekt As Bitcoin Smashes Through $118,600

As House Republicans gear up for ‘Crypto Week’ starting July 14, Bitcoin erupted to a historic $118,600 high, triggering over $1B in crypto liquidations with degenerate traders getting caught off guard. Analysts call it a massive short squeeze while the Fear and Greed Index remained at 71. This marks the largest short-side wipeout of this year so far as short-sellers faced their worst nightmare, proving once again that betting against Bitcoin is financial suicide. CoinDesk

🗑️ US Ditches Crypto Broker Rule, Non Custodial Platforms Win Big

The US Treasury and IRS officially repealed the crypto broker regulation that would have forced non-custodial services to collect customer data for tax purposes. The rule, stemming from Biden's 2021 Infrastructure Act, faced massive industry opposition for being technically impossible to implement. Senator Ted Cruz led the Congressional effort to overturn it, with Trump signing the repeal in April, restoring innovation-friendly regulations. Atlas21

🧂 Bukele Trolls ‘Salty’ Senate Democrats Over Bitcoin Investigation

El Salvador's President Nayib Bukele mocked US Senate Democrats who proposed the 'El Salvador Accountability Act of 2025' to investigate his country's Bitcoin use and consider sanctions. The bill targets alleged Bitcoin corruption and ‘regime activities’. Bukele responded with 'HAHAHAHAHAHAHA the Dems are just salty' on social media. Despite scaling back Bitcoin legal tender requirements after IMF pressure, Bukele continues buying BTC for national reserves, now holding 6,232 bitcoin worth $690M. Decrypt

POLL #299

PREVIOUS POLL RESULTS

QUICK BITS

• Emirates Airlines, one of the world’s biggest international carriers, will now accept Bitcoin payments for flights.

• Rumble launches a Bitcoin wallet in Q3 2025 through an exclusive partnership with MoonPay, letting creators bypass traditional banking systems entirely.

• James Wynn, the notorious Hyperliquid trader who lost $100M earlier this year, gets liquidated again after confidently shorting bitcoin with 40X leverage.

• Bitcoin poised for more major gains as the US Dollar Index hits record 21 year weakness, trading below its 200 day moving average amid mounting debt concerns.

• Bitcoin’s low MVRV Z Score signals further upside potential despite hitting new all time highs.

• Bitcoin accumulator addresses surge 71% to 248,000 BTC while MVRV analysis suggests meaningful profit taking is unlikely until BTC reaches $130,900.

• Trump Jr invests $4M in Thumzup Media Corp, a social media startup with only $151K quarterly revenue that recently adopted a Bitcoin treasury strategy.

• KULR, a Bitcoin-first sustainable energy company, expands mining operations to 750 PH/s with Paraguay deployment, targeting 1.25 EH/s by late summer through dual buy-or-mine strategy.

• Bitcoin Depot notifies nearly 27,000 users of a data breach incident exposing sensitive information including full names, phone numbers, and driver's license numbers.

• Unchained reaches a milestone of $1B in loan originations with 4000+ loans issued while maintaining zero rehypothecation policy for client security.

• US spot Bitcoin ETFs cross $50B in net inflows, just 18 months after their inception in January 2024.

• Blackrock’s Bitcoin ETF, reaches a new 52-week high with 125.86% gains.

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QUICK MEDIA

• Joe Nakamoto, Bitcoiner and investigative journalist, explores Hong Kong's unique Bitcoin ecosystem in a short documentary that reveals how the city serves as China's Bitcoin testing ground while navigating the delicate balance between financial freedom and Beijing's growing influence over the special administrative region (Jul 11 | 21:11 min watch). 

• The Hated One, a privacy advocate, presents a guide to degoogling your digital life with affordable alternatives to Google services, focusing on privacy protection through practical recommendations for search engines, browsers, email, operating systems, and other essential digital tools without requiring self hosting expertise (Jul 7 | 17:10 min watch). 

• BTC Sessions, a Bitcoin educator, reveals the top 5 Bitcoin scams draining wallets in 2025, including fake wallet apps, Ponzi schemes, phishing attacks, affinity scams, and ransomware extortion tactics that every Bitcoin holder must be aware of (Jul 7 | 19:26 min watch). 

• Matthew Kratter of Bitcoin University demonstrates how to set up home Bitcoin mining using a Start9 server, Bitcoin Knots node, Datum Gateway, and Bitaxe miner to participate in solo mining with a chance to win over $325,000 in Bitcoin rewards while supporting the network (Jul 10 | 21:01 min watch). 

• Rahim Taghizadegan, Founder of Scholarium, speaking at BTC Prague 2025, explores the myths and realities of the Sovereign Individual and Bitcoin Citadel ideals, offering grounded perspectives and practical strategies for building true sovereignty while raising families in an unfree world (Jul 9 | 18:23 min watch). 

• The Bitcoin Fix, a Bitcoin education channel, argues that Bitcoin's lack of ‘intrinsic value’ is actually a strength, not a weakness, as it functions purely as money with superior monetary properties including scarcity and resilience compared to traditional assets (Jul 9 | 4:25 min watch).

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