Crypto Guides, Knowledge & Insights

WikiBit Crypto Market Weekly Outlook: BTC at a Crossroads — $85K Upside or $73K Downside?

1.Weekly Market Review: From “Dead Water” to a “Tsunami”　　Just 14 days ago, the entire market was still crying that “trading volume had fallen to the lowest level since 2019.” Then suddenly, Bitcoin exploded from $63,838 to $81,255.　　BTC gained 27% in 21 days, with a 20% surge in just three days — the strongest three-day rally since 2023.　　Ethereum was not left behind, rising more than 30% last week. The entire market instantly switched from a “ghost town atmosphere” to a “bull market celebration mode.”　　However, the party did not last long.　　After hitting $81,255, BTC quickly pulled back by $2,700, falling toward the $78,500 area. As of the Asian trading session on August 28, BTC was fluctuating around $79,800.　　The daily candlestick formed a typical long upper shadow, a textbook example of a sharp rally followed by a rejection.2.Why Did BTC Surge？ Three Words: Short Squeeze! Short Squeeze! Short Squeeze!　　The main driver behind this rally was not retail FOMO.　　Instead, it was a combination of U.S. Treasury buyback operations and a forced liquidation cascade of approximately $4 billion in short positions.　　Short sellers watched helplessly as BTC climbed from $64K all the way to $81K. They were forced to close positions at higher prices, which in

1 hours agoDeep Dive

WikiBit Exchange Exit Risk Ranking Issue #8 — Azbit: Backed by Roger Ver, Publicly Called Out by Seychelles FSA — An Offshore Casino Riding on a “Celebrity Endorsement”

Introduction: An Exchange That “Lives More in Legends Than Reality”　　In previous episodes, we investigated HashKey (the compliance role model), HTX (the sanctions hotspot), UZX (the DAO penny stock), Phemex (the Wall Street elite team), Tapbit (the MSB license sticker king), Coincheck (Japan‘s survivor), Deepcoin (El Salvador’s new regulatory disguise), and Upbit (South Koreas national exchange).　　Todays subject is another “offshore registration specialist” — Azbit.　　Its resume looks surprisingly impressive:“Bitcoin.com founder Roger Ver serves as an advisor”“Founded in 2018, headquartered in Estonia”“Listed more than 400 projects”“Offers spot trading, margin trading, futures, staking, savings, IEO, and other one-stop crypto services”　　Sounds like a full-featured major exchange, right？　　But on the other side of the story — this offshore exchange, whose corporate entity is registered in Seychelles, was publicly warned by the Seychelles Financial Services Authority (FSA) on August 7, 2026.　　The regulator stated that Azbit:“has never obtained any authorization”the company was in “not good standing” due to failure to pay annual fees　　Meanwhile, after years of operation, Azbit has accumulated negative reports involving withdrawal disputes, promotional traps, and regulatory uncertainty.　　So how did an exchange endorsed by the “Bitcoin Jesus” become the target of a public regulatory warning？　　Today, we will break it down layer by layer.1. Regulatory Compliance: Seychelles

5 hours agoDeep Dive

WikiBit Exchange Exit Scam Risk Ranking – Episode 6: Coincheck: Hacked for $530 Million, Acquired by a Financial Giant, Listed on Nasdaq — The Ice and Fire Saga of Japan’s “National Exchange”

Introduction: An Exchange That Has “Died Once”　　In previous episodes, we investigated HashKey (the compliance top student), HTX (the sanctions-hit exchange), UZX (the DAO penny-stock project), Phemex (the Morgan Stanley elite team), Tapbit (the “MSB license sticker king”), and Deepcoin (the “El Salvador new outfit”).　　Todays subject is probably the most dramatic one in the entire series — Coincheck.　　In January 2018, Coincheck suffered the largest cryptocurrency theft in history at the time: hackers stole $530 million worth of NEM tokens.　　For most exchanges, such a disaster would likely have ended with a shutdown or even an exit scam.　　But Coincheck survived.　　It accepted corrective measures imposed by Japan‘s Financial Services Agency (FSA), was acquired by listed company Monex Group, went public on Nasdaq in 2023, and in 2026 obtained Japan’s first stablecoin-related license.　　An exchange that had “died once” somehow came back as the “immortal phoenix” of Japans crypto market.　　However, on the other side of the story:Trustpilot rating: 1.7/5In April 2025, Coinchecks official X account was hacked, causing a platform-wide disruptionUsers complained about account freezes and withdrawal problems　　Why does an exchange that was acquired by a publicly listed company and listed on Nasdaq still get called a “SCAM” by some users？　　Today, we will break it down

23 hours agoDeep Dive

Bitcoin Breaks Above $80,000 Again After 100 Days, While the Fed Makes Successive Moves: “Bull Market Returns Fast” OR “Dead Cat Bounce, Run While You Can”?

Introduction　　After exactly 100 days, Bitcoin reclaimed the $80,000 level on August 24, and surged further to $81,272 on August 25 (according to Binance data) before pulling back.　　Following its retreat from the yearly high, Bitcoin spent nearly three months moving sideways and building a bottom within a narrow $57,000–$68,000 range. Then, within just a few trading days, it exploded higher, posting a monthly gain of more than 28%.　　However, just three weeks earlier, in early August, Bitcoin was still hovering around the $64,000–$66,000 range. The 30-day average of active addresses once fell to 609,000, approaching levels seen during the 2018 bear market. Within only a few days, market sentiment shifted from “fear” to “extreme greed” — the Crypto Fear 　　Volatility dropped to the lowest level of the year;　　The market entered a state of “bulls and bears locked in battle, while retail investors stayed on the sidelines.”　　However, two important undercurrents emerged during this consolidation phase:　　1. OTC Trading Activity Increased Significantly　　Long-term investors, including early Bitcoin whales and institutions linked to publicly listed companies, continued accumulating spot Bitcoin around the $60,000 level, quietly rebuilding positions.　　2. Short Positions Continued to Build in Derivative Markets　　A growing number of traders bet that Bitcoin would break below the lower

Yesterday 15:21Deep Dive

WikiBit Exchange Exit Risk Ranking #9 — Deepcoin: Can El Salvador’s “Compliance New Clothes” Cover the Endless “Withdrawal Problems”?

Preface: A “Schrödinger‘s Compliance” Exchange　　In previous episodes, we dug into HashKey (the “compliance top student”), HTX (a sanctions hotspot), UZX (a DAO penny-stock style project), Phemex (the Wall Street elite team), Tapbit (the MSB license “sticker collector”), and Upbit (South Korea’s national exchange). Todays subject is even more surreal — Deepcoin.　　On paper, this platforms résumé looks impressive:　　“Ranked third in CoinGecko‘s derivatives rankings,” “serving more than 10 million users,” “covering 30+ countries,” “COBO custody + bank-level security” — doesn’t that sound like the profile of a top-tier exchange？ (Deepcoin)　　But on the other side of the story:　　WikiBit gives it a score of 6.67; Seychelles regulators allegedly issued a warning stating that they had “never received a license application from Deepcoin”; on Trustpilot, accusations such as “SCAM” and “fraud” appear frequently, while user complaints have reportedly increased in recent years, including withdrawal difficulties, account freezes, and high-volume trading traps.　　Today, we will tear apart Deepcoin‘s surface packaging and conduct a complete analysis of the platform’s real security foundation from seven key dimensions.1. Regulatory Compliance: How Much Is the “Gold Content” of Deepcoins El Salvador BSP License Worth？　　Deepcoin Compliance Status (Source: WikiBit)　　El Salvador BSP: The “Compliance New Outfit” of 2026　　In June 2026, Deepcoin made a

2 days agoDeep Dive

From a “European Established Compliant Exchange” to a “Withdrawal Hell”: Zondacrypto Collapse Exposes the Most Dangerous Illusion — A License ≠ Safety

As more and more small and mid-sized crypto exchanges disappear or collapse, many investors choose trading platforms based on a few simple questions:　　Is it compliant？　　Does it have a license？　　How long has it been operating？　　How many users does it have？　　However, the widely discussed Zondacrypto collapse has taught the crypto industry a painful lesson:　　The most dangerous exchanges are often not the small platforms that suddenly appear overnight — because users already know they look suspicious. The real danger comes from platforms hiding behind the image of “compliance, reputation, and a large user base.”　　After BitMart and BitMEX, two once-established crypto exchanges that faced shutdowns and major controversies, the spotlight has now turned to Zondacrypto — a long-standing European exchange once considered a compliant industry player.　　This means the worlds three major crypto markets — China, the United States, and Europe — have now all experienced major exchange failures.　　But Zondacryptos collapse introduced a new and disturbing twist:　　The founder allegedly disappeared years before the exchange collapsed.　　The platform continued operating as usual for years. Only when the massive funding gap became impossible to cover did the second-in-command CEO also disappear.　　This $650 million scandal, affecting tens of thousands of investors, has exposed major weaknesses in Europes crypto regulatory

2 days agoDeep Dive

BitMart Shutdown Sparks Withdrawal Concerns: $3.7 Million in User Assets Reportedly Affected — WikiBit Launches CEX Risk Exposure & Complaint Channel

After BitMart announced its orderly shutdown on July 26, an increasing number of users have reported issues in recent days, including withdrawal difficulties, delayed withdrawals, abnormal account balances, and unresponsive customer support.　　On July 30, affected BitMart users with significant asset exposure established a joint communication group and completed an initial registration process. According to the preliminary records, 27 users reported being unable to withdraw their funds normally, with total affected assets reaching approximately 3,704,214 USDT.　　The largest reported individual asset amount reached 700,000 USDT, while several other users reported account balances ranging from 100,000 USDT to 600,000 USDT.　　Screenshots from the original accounts of just seven users showed a combined balance of 1,692,203.67 USDT.　　Screenshot of BitMart Users Unable to Withdraw Funds (Source: @MINGLIbtc)　　Centralized exchanges (CEXs) play a critical role in custodying user assets, facilitating trades, and providing withdrawal services. However, over the past few years, the crypto industry has witnessed multiple exchange risk events. From the collapse of major exchanges to withdrawal difficulties faced by smaller platforms, ordinary users are often the ones who suffer the greatest impact in the end.　　When such incidents continue to occur, how can users better protect their asset rights and interests？BitMart Shutdown: $3.7 Million in User Assets

3 days agoDeep Dive

WikiBit Exchange Exit Risk Ranking #7: UPbit — Kimchi Premium Is Gone, Trading Volume Has Collapsed, Regulators Are Watching Closely. Has UPbit’s Golden Era Come to an End?

Introduction: The “Kingpin” of South Koreas Crypto Market　　In previous episodes, we investigated:HashKey — the “compliance top student”;HTX — the “sanctions disaster zone”;UZX — the “DAO penny stock”;Phemex — the “Wall Street elite team”;Tapbit — the “MSB license sticker king”.　　Todays subject is a true heavyweight player:　　UPbit.　　Among global crypto exchanges, UPbit is a unique existence.　　It is not a global nomadic giant like Binance, nor is it a U.S.-listed company built around regulatory compliance like Coinbase.　　UPbit is more like a regional crypto kingdom in South Korea.　　Inside South Korea, it dominates the market with more than 70% market share, becoming the “crypto bank” and “faith platform” for Korean retail investors.　　But on the global stage, UPbits influence is far smaller than its actual trading volume would suggest.　　From 2025 to 2026, UPbit experienced what can only be described as a roller-coaster year:In February 2025, South Koreas Financial Intelligence Unit (FIU) imposed a three-month business suspension on UPbit;In May 2025, its CEO, who had led the company for eight years, suddenly resigned;In the same month, South Korean internet giant Naver announced a $10.3 billion stock-swap acquisition of UPbits parent company, Dunamu;In April 2026, a court overturned FIUs suspension order;In 2026, Navers acquisition deal was delayed twice and

3 days agoDeep Dive

Beginner’s Ultimate Guide to Crypto: From Understanding the Crypto World from Zero to Learning Safe Trading

Note:　　This guide is designed to help beginners build a complete understanding of the crypto industry and learn how to get started safely. It does not recommend any specific investment assets. Instead, it focuses only on frameworks, knowledge, and methods.　　For beginners, the most important thing when entering the crypto world is not making money immediately, but building a complete understanding first:　　Understand the ecosystem → Learn the tools → Understand the risks → Practice with small amounts → Build your own trading system　　This is the latest 2026 beginners guide to crypto. It breaks down the core ecosystem of the crypto industry, the roles of different participants, the full range of exchange products, trading strategies, and essential tools from the ground up.　　The goal is to help beginners develop a complete crypto mindset, trade rationally, avoid risks, and enter the industry step by step.Introduction: Starting with Bitcoin — Why Does Crypto Exist？　　Why does Bitcoin exist？ And why is it being accepted by more and more people around the world？　　The main reason is that Bitcoin solves a fundamental problem:　　True ownership of personal assets.　　Almost all other features of Bitcoin are built on this foundation.　　Let me ask you an important question that many people overlook in daily

Within 1 weeksDeep Dive

WikiBit Exchange Exit Risk Ranking Episode 5: Tapbit — A “One MSB Sticker Fits All” Exchange, the Borderless Casino on France’s AMF Blacklist

Introduction: A “Schrödinger‘s Compliance” Exchange　　In the first four episodes, we investigated HashKey (the compliance top student), HTX (a sanctions hotspot), UZX (a DAO penny-stock style project), and Phemex (a team built by former Morgan Stanley elites). Today’s subject is even more controversial — Tapbit.　　Its official website describes itself as a “borderless crypto platform,” with a slogan that sounds ambitious. But on the other side, Frances financial regulator AMF has placed Tapbit on its blacklist, while WikiBit rates it 4.98/10, categorizing it as a “high-risk concern.”　　An exchange that claims trading volumes comparable to major platforms, yet receives only a 4.98 risk score from a compliance evaluation platform？ The contrast is more extreme than any exchange we have analyzed before.　　Today, well dig into Tapbit layer by layer.1. Regulatory Compliance: One MSB “Sticker” to Rule Them All　　Tapbit Risk Information (Source: WikiBit)　　The “Licenses” Bragged About by the Official Website: Three Badges, All Stickers　　Tapbits official website lists three credentials:　　U.S. MSB license for fiat-related services　　U.S. NFA comprehensive financial license　　SVG FSA license for cryptocurrency and forex services　　Sounds comprehensive？ Lets break them down one by one:　　U.S. MSB registration:Being registered as an MSB with FinCEN has a very low threshold. It does not require a review of the business

Within 1 weeksDeep Dive

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