# Death Spiral Related Articles

HTX News Center provides the latest articles and in-depth analysis on "Death Spiral", covering market trends, project updates, tech developments, and regulatory policies in the crypto industry.

Culper Research: Why We Are Firmly Shorting ETH?

Culper Research, a Wall Street short-selling firm, presents a case for shorting Ethereum (ETH) and related securities. Their report argues that the Fusaka upgrade in December 2025 severely damaged Ethereum's tokenomics by increasing the gas limit, which caused a 90% collapse in transaction fees—far worse than the 10-30% drop predicted. This created a surplus of cheap block space, enabling a massive increase in "address poisoning" or "wallet dusting" attacks. The analysis claims that 95% of new wallet growth and over 50% of the increased transaction volume are inorganic, stemming from these spam attacks rather than genuine adoption. The report further states that Vitalik Buterin is aware of these issues and has been selling significant amounts of ETH. It also criticizes prominent bull Tom Lee for using flawed on-chain activity data as evidence of strength. Additionally, lower validator earnings are reducing staking incentives, and Ethereum is losing developer mindshare and market share to competitors like Solana, which is attracting major institutional partnerships. Culper concludes that Ethereum's economic model is broken and its value will continue to decline.

marsbit03/09 00:06

Culper Research: Why We Are Firmly Shorting ETH?

marsbit03/09 00:06

‘Big Short’ Investor Michael Burry Issues Warning As Bitcoin Crashes Toward $65,000

Michael Burry, the investor known for predicting the 2008 financial crisis, has issued a warning that Bitcoin's decline toward $65,000 could evolve into a "death spiral." He cautions that a further 10% drop would leave major corporate holders like MicroStrategy billions underwater and shut out of capital markets. Burry argues there is no organic use case to stop the descent, and corporate adoption or crypto ETFs do not provide a permanent price floor. He also warns that continued declines could spill into other markets, with liquidations in crypto distorting tokenized and physical metals markets. A drop to $50,000 could bankrupt Bitcoin miners and cause tokenized metals futures to collapse with no buyers.

bitcoinist02/05 23:02

‘Big Short’ Investor Michael Burry Issues Warning As Bitcoin Crashes Toward $65,000

bitcoinist02/05 23:02

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