The Unrealized-Profit Pullback Warning: What's Real and What's Not

On Wednesday morning, Bitcoin was still hovering around the $83,000 mark. According to reports, analytics firm CryptoQuant warned that short-term traders’ on-chain unrealized profit has hit a 21-month high, suggesting the market may be due for a pullback [1]. The logic is straightforward: the thicker the paper profit, the stronger the temptation to take it. With book profits piled up to a near two-year peak, CryptoQuant’s warning at this moment is essentially a bet on that urge to take profit. ...

September 30, 2026 · 4 min · Nick Yam

Shorts Never Die, the Squeeze Never Stops

Overnight, Bitcoin suddenly rallied. A single candle of more than 7% shot straight from the 81k zone to 87k, marking a new high for this rebound that began in late August. The market erupted in celebration. Some pounded their chests over missed opportunities, some scrambled to reposition, some smugly patted themselves on the back. This move was a pure cascade of short liquidations — what is commonly called a short squeeze. ...

September 22, 2026 · 8 min · Nick Yam

The Quantum Sword, Honed by AI

Bitcoin continues to pull back toward $76k, with the market waiting for tonight’s US CPI print. The threat quantum computing poses to Bitcoin — a sword that has hung overhead for a long time — has seen some fresh movement. ...

September 11, 2026 · 6 min · Nick Yam

Fortress Guarded, Yet 4,000 BTC Stolen

Bitcoin has been pulling back lately, with macro headwinds pushing it down to around $77k. A few days ago, something quietly unsettling happened on Liquid — Bitcoin’s federated sidechain. ...

September 10, 2026 · 6 min · Nick Yam

BIP-110 Fork Fails: Who Has the Right to Change Bitcoin?

TL;DR BIP-110 sought to raise the cost of writing large volumes of contiguous data — Ordinals inscriptions and the like — through a temporary consensus restriction. In the voluntary early-lock-in phase, the proposal drew signals from only 51 blocks — 2.53% support — far below the 55% threshold. Once the mandatory signaling period began, the minority chain formed by supporters produced just two blocks before stalling; BIP-110 is effectively dead as a network-wide consensus upgrade. The debate over on-chain data, protocol neutrality, and development governance will continue; and because the forked chain lacks replay protection, ordinary holders should not rush to move or trade related assets. In the early hours of August 9, Beijing time, Bitcoin reached block height 961,632 and BIP-110 entered its mandatory signaling period. Nodes running BIP-110 rules began rejecting blocks without version bit 4 set, splitting off from the mainnet. Thereafter, the BIP-110 branch produced only two blocks before stalling, while the mainnet kept producing normally. Over the preceding difficulty-adjustment period, only 51 blocks had signaled support — 2.53% — far below the proposal’s 55% voluntary early-lock-in threshold. BIP-110 thus never won broad miner support, and ultimately formed a minority chain with negligible hashpower. ...

August 11, 2026 · 11 min · Nick Yam

Self-Custody Faith: Collapse, or Rebirth from the Ashes?

BTC has been climbing and now sits near $65k. The weekend’s market was calm. But this weekend in the Bitcoin community was destined to be anything but peaceful. ...

August 8, 2026 · 7 min · Nick Yam

FBI Agent Memorized the Seed Phrase, Stole $1 Million in Crypto

A recently unsealed criminal complaint from the U.S. District Court for the Eastern District of Virginia has once again ripped the fig leaf off American law enforcement. Patrick Steven Yaroch, a former FBI supervisory special agent, is accused of using his position to siphon nearly $1 million in crypto from cryptocurrency accounts linked to a “hostile nation” (reportedly Russia) that the FBI was monitoring — moving the funds into his own wallet, and even parking part of it in DeFi protocols to earn yield[1]. ...

August 6, 2026 · 9 min · Nick Yam

Wish Bitcoin a happy 15th birthday !

Today is January 3, 2024, the 15th birthday of Bitcoin. Let’s first wish Bitcoin a happy 15th birthday! The conventional narrative in the media goes like this: 15 years ago, on January 3, 2009, Satoshi Nakamoto launched Bitcoin on a server in Helsinki, Finland. However, according to NickYam’s investigation, the actual truth is more likely that Satoshi Nakamoto received The Times newspaper from January 3 to 9 of that year, conducted a trial run for a few days, and officially launched Bitcoin on the 9th. ...

January 3, 2024 · 7 min · Nick Yam

The Origin of Demand, with a Discussion on Why Bitcoin Holds Value

Introduction Whenever the topic of the value of BTC (Bitcoin) is discussed, people often find themselves in endless debates. Even with the use of the three treasures - left-hand Austrian, right-hand Marxian - and reciting Keynes, it seems that the problem remains unresolved. Some say BTC is worthless garbage. Some say BTC has no intrinsic value but has a price. Some say BTC has value because it is scarce. ...

November 27, 2023 · 8 min · Nick Yam

Buffett Outperforms Bitcoin

The stock guru Warren Buffett has always been known for his staunch anti-cryptocurrency stance. In 2019, the Oracle of Omaha said on a television interview, “All cryptocurrencies will eventually come to a bad ending.” In 2021, Warren Buffett’s partner, Charlie Munger, publicly criticized Bitcoin during a shareholders’ meeting, calling it “disgusting and contrary to the interests of civilization.” Warren Buffett himself has also publicly referred to Bitcoin as “rat poison” in the past. ...

October 27, 2023 · 4 min · Nick Yam