Arena Blog

The band softens the crash in Bitcoin, Ether and stock indices. In half of the large altcoins it brakes too little, and in gold not at all. 35 coins, three indices and gold, tested.

In October 2026, attackers emptied wallets that had been set up on Ledger devices from the reseller CryptoBilis. The devices were genuine and passed Ledger's genuine check. Inside the case sat a radio module that read the 24 words off the screen during setup.

Polymarket has offered perps with up to 20× leverage since September. A Bitcoin long there is liquidated after a 2.5 % move against it. Since 2024, that happened within a week after 64 % of all entry days, including 38.5 % of the weeks Bitcoin ended higher.

The biggest crypto hack in history cost Bybit about 1.5 billion dollars in February 2025. Its customers lost nothing. Thieves give back almost nothing: 3.1 percent of everything stolen. So whether you see your money again depends on who can carry the loss. A solvent exchange can. A bankrupt one cannot, and in your own wallet, it is you. The biggest hacks, how they worked, and what follows for where you keep your coins.

OneCoin, Bitconnect, PlusToken, Celsius, FTX: billions gone, millions of victims. In 9 of the 15 biggest cases, the warning sign was in the offer itself, before anyone paid in: a fixed return, money for recruiting, a source of profit nobody could check. What the biggest scams had in common, how little victims got back, why the fraud of today looks different, and five questions to ask before you deposit.

The Smarter Web Company, a UK web agency, holds 2,830 bitcoin and is traded as a bitcoin stock. Checked against its own filings: you pay about 30 % more than the bitcoin that belongs to shareholders is worth, the bitcoin per share has fallen since April, a 12 % preferred dividend now costs more than the agency earns, and in July the company sold bitcoin at a 39 % loss to repay a loan. When the share makes sense, and when an ETF or your own coins do the same job for less.

Measured by drawdown, the 2026 bear market was the mildest of bitcoin's big cycles: −53 % against −77 % to −93 % before. Measured in time, it was the worst: the low matched a price from five and a quarter years earlier, further back than any low since 2010. And against its own history, bitcoin was not cheap at any low since 2017. Three numbers for every bear market, and what each tells you before you call bitcoin a bargain.

Hyperliquid calls itself decentralised. When markets got tight, a market was closed by vote, winning positions were force-closed and a bridge was paused. Who holds the stake behind those decisions, and what it means for traders and HYPE holders.

A popular framework says: cut a strategy's position in half when its 90-day Sharpe drops below the backtest's 5th percentile, pause it at 1.5x the backtest drawdown. Simulated, those rules cut eight in ten healthy strategies to half size within three years and leave four in five strategies without any edge running through their first year. What to check instead.

Count in units of the asset, not in dollars: holding 1 coin always leaves you 1 coin. A 2x long gets closer to 2 the higher the price climbs, but never reaches it, and a halving takes everything. That holds for every asset. Since 2017, a 2x long would have been liquidated within a year after one in three entry days for Bitcoin and almost one in two for Ether.

Since 2011 Bitcoin has fallen 30 percent within a month 19 times. How often that happens today, how it fits with falling volatility, how far the drop usually went, and what that means for the size of your position.

Across 405 crypto pairs, buy and hold loses money on 83 % of them. What 197,435 backtests say about what a strategy does first, what decides whether it earns, and why the bar for any altcoin is Bitcoin.