Gunden built his wealth as an early Bitcoin arbitrage trader on Tradehill and the now-defunct Mt. Gox, where he reportedly handled tens of thousands of BTC before the exchange collapsed in 2014. His recent moves align with a broader wave of retail selling, amplified by fears that the latest bull cycle may be nearing exhaustion.

Crypto markets extended their retreat today as the Bitcoin price hovered near a seven-month low at $88,890 — down 4% on the day and trading near the bottom of its weekly range.

MSCI’s Asian Pacific Index of stocks retreated 2.3%, its biggest drop since April, paring its 2025 gain to 22%. Equity gauges in Tokyo and Seoul were the biggest losers in the region, sliding at least 2.8%. Tech and AI-related stocks contributed most to the Topix’s slump, with SoftBank tumbling 7.5%. Bitcoin fell below $90,000.

Bitcoin has been tumbling in recent weeks as investors have become increasingly concerned about high valuations in the stock market.

Bitcoin drops to a new monthly low after Nvidia's strong outlook calms AI bubble fears, raising concerns of further downside ahead.

The split may stem from differing risk sentiment across regions. US selling is likely due to caution over macroeconomic signals, policy changes, or liquidity. By contrast, many Asian traders view dips as buying opportunities, either because of confidence in Bitcoin’s outlook or because of varied investment approaches.

Investors remained unsure about the Fed’s scope for policy easing after a mixed — and stale — jobs report. That’s not to mention the continued raft of Fed speakers showing apprehension about further rate cuts.

Bitcoin drops 31% as market correction worsens, failing to act as a haven while gold remains stable during market stress.

Nvidia, the market’s heaviest influence, fell 2.8% and is down more than 10% for the month as concerns grow about inflated AI stock prices. Nearly half of major investors now view an AI bubble as the top market risk,