Cryptocurrency
Wolf Of All Streets worries about a world where Bitcoin hits $1M: Hall of Flame
Scott Melker is the host of The Wolf Of All Streets Podcast and author of The Wolf Den newsletter.
“If I tweeted about a small cap [crypto] of some sort right now, the price would probably change by like 50%,” says Scott Melker, better known to his 904,800 Twitter followers as The Wolf Of All Streets.
Melker says he takes this responsibility seriously and won’t share tweets that might “impact the market” – but this makes Twitter “a lot more boring” from his end. In fact, Melker declares that Twitter “stopped being fun” when he reached 100,000 followers.
“That’s when I went through a phase of a real love-hate relationship with Twitter because that’s when I guess 10% of the people who respond to comments were trolling at any given time.”
All you can really post to 900,000 followers is “Bitcoin and inspirational quotes” because “everything else” will land you in hot water.
After graduating from Penn State University with an Anthropology degree in 1999, Melker tried his hand at a “million” other things — finding the most success in his 20-year stint as a DJ.
Shortly after finishing university, he also started his own magazine in Philadelphia called 101 Magazine, focusing on street culture and city vibes.
It caught the attention of a “huge” magazine called Frank 151, which acquired it, and Melker became the editor-in-chief of both.
During that time, he had the opportunity to attend “insane” parties and rub shoulders with legendary acts like the Wu-Tang Clan and Outcast.
The music industry led him to try crypto trading in the first place.
“I just happened to look into crypto because there was a bunch of DJs trading it,” he says.
He first started trading on the Gemini crypto exchange in 2016 and recalls buying Bitcoin to send it to another exchange, Bittrex, so he “could buy Ethereum and Ripple.” ETH was “under 20 bucks” back then, he notes in a cheeky humble brag.
Rather than some lofty higher purpose, he says the main attraction was making cold hard cash.
“I was really just trading, trying to make money to support a new family; it had nothing to do with what Bitcoin was or what the asset class was.”
What led to Twitter fame?
Melker initially started stacking up followers when he was “trading the market well” and posting about it on Twitter. At that point in time, his content was “100% charts and trades.”
However, Melker didn’t want his account to be based on trades because it’s “fickle.”
So, he transitioned toward a more holistic approach to his content within the crypto industry.
“I would love to tell you there was some strategy that I took to grow my account, but it was always just me doing whatever I enjoyed doing the most at any given time.”
Melker has observed a direct correlation between his follower growth and the performance of the crypto market.
During previous bull markets, he has experienced an insane influx of daily followers.
“There was a time when I was getting a hundred thousand [followers] in two months,” he says.
Melker used to “literally respond to everybody” who commented on his tweets or messaged him, but that ship has now sailed.
“That’s like a full-time job, and then you just get to the point where you literally can’t open all your DMs anymore,” he says.
But it’s best not to refer to him as an “influencer.”
“I hate the term influencer because, to me, I’m just a student of crypto, and it’s something I’m passionate about and want to learn more about.”
Read also
What type of content do you do?
Melker’s content revolves around crypto news and keeping people up-to-date with what’s happening in the market.
He likes to share his take on what’s important, and “what’s kind of noise and not signal.”
“[My content includes] all the lessons that I’ve learned in my streams and podcasts, but I would say it’s generally educational/informational content about this market.”
Melker emphasizes the overwhelming pressure he faces whenever he decides to “fire off a tweet,” considering how many followers he has amassed on Twitter.
“Twitter is like a movie where you throw a grenade in a room and walk away, and there’s a huge explosion behind you. That’s how I feel every time I send a tweet now,” Melker says.
Extreme beef: Gary Gensler
Melker is not a fan of United States Securities and Exchange Commission Chair Gary Gensler.
He admits that his Twitter is filled with many “angry tweets against Gensler.”
“I literally contributed to aggressively getting #firegarygensler trending on Twitter,” he declares.
He explains that his problem with Gensler is his recent regulatory actions, which he perceives as a “massive overcorrection” targeting crypto firms.
He believes that it stems from a sense of embarrassment over the fact Gensler was meeting with Sam Bankman-Fried before the collapse of FTX and didn’t realize “he was a fraud.”
Read also
Spicy beef: ZachXBT
ZachXBT, a pseudonymous on-chain researcher, accused Melker of pumping and dumping shit coins to his followers in 2021. It was a troubling time for Melker, who received threats and became the target of white-hot anger.
Melker vehemently refuted the claims and announced he would steer clear of tweeting about projects with small market caps altogether.
Melker says he doesn’t want his audience to get the wrong idea and prefers to focus on the educational stuff. He reiterates that he “was passionate” about trading altcoins, but says it can be difficult to navigate the boundaries of what you should and shouldn’t talk about as your following grows.
“You don’t just show up with 900,000 followers one day and understand what you can and cannot tweet about.”
Price predictions?
“There’s nothing that makes you look dumber than a price prediction,” Melker states. He should know, given he took an optimistic swing at predicting Ethereum would hit five figures in 2021.
However, he is bullish on Bitcoin hitting six figures in the next bull run.
“I think the next cycle would be somewhere between 100 (thousand) and 250 (thousand),” he declares.
But Melker believes that after that, the market will see another huge decline before it hits half a million.
“Then we drop down to 60 (thousand), and it’s boring forever. Then, we pop up to half a million, like we continue these four-year cycles.”
However, Melker doesn’t want “to live in a world where Bitcoin is a million dollars.”
“The faster it happens, the worse the world is,” Melker says.
“Because if Bitcoin goes to a million dollars. It means that everything else has exploded, including the United States dollar, and we’re living in some Mad Max dystopian future.”
“Where you and I are those guys without faces painted going to gas town, fighting off the enemies,” he describes, referring to the 2015 movie Mad Max: Fury Road.
But maybe in a couple of decades.
“I would like to see Bitcoin at a million dollars in 20 years, following reasonable cycles,” he adds.
Subscribe
The most engaging reads in blockchain. Delivered once a
week.
Cryptocurrency
Bitcoin Rejected at $110K Despite US-China Trade Deal and Favorable CPI Numbers: Market Watch
Despite the positive news on the US-China trade front and the CPI numbers in the States, bitcoin’s price failed to capitalize and has fallen by over two grand.
Most altcoins are also in the red today, with DOGE, SUI, ADA, LINK, TRX, and AVAX posting big losses.
BTC Stopped at $110K
After last Friday’s violent correction amid the rising tension between US President Trump and former ally Musk, when BTC plunged below $100,500, the primary cryptocurrency was actually going strong for a while. It managed to recover all losses by the weekend and started to gain traction at the start of the current business week.
Bitcoin spiked to $110,500 on a few occasions as the week progressed, and the latest example came yesterday when the asset came just over a grand away from tapping a new all-time high.
The macroeconomic scene improved as the POTUS said Washington and Beijing are very close to a trade deal, while the US CPI data for May was more favorable than expected. However, BTC failed to keep climbing and was quickly stopped at the $110,000 mark and pushed south by over $2,500.
As of now, it still trades below $108,000, and its market cap has slumped to $2.140 trillion. Its dominance over the alts stands still at 61% on CG.
Alts in Retreat
Most altcoins registered impressive gains in the past several days, so it’s rather expected that red dominates the charts today. Ethereum, which recently painted a multi-month peak, is down by just over 1% and trades at $2,750. XRP has lost the $2.3 line and is below $2.25 after a 4% daily decline.
Even more painful declines come from the likes of DOGE, TRX, SOL, ADA, SUI, LINK, and AVAX, with daily drops of up to 6-7%.
SPX is once again the top gainer today, having surged by almost 9%, while JUP, FET, and SEI lead in terms of value lost.
The total crypto market cap has shed over $70 billion and is down to $3.510 trillion on CG.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. See Disclaimer for more information.
Cryptocurrency charts by TradingView.
Spot Ethereum ETFs have outpaced their Bitcoin counterparts, raking in $240 million in net daily inflows on Wednesday, June 11.
This figure eclipsed the $164 million flowing into BTC ETFs, marking the first time Ethereum products have led daily inflows since the launch of U.S. spot crypto ETFs 18 months ago.
Ethereum Breaks Through
The shift, hailed by analysts and echoed across social media, is seen by some as a potential turning point in institutional crypto adoption, fueled by unique catalysts driving capital towards the second-largest digital asset.
“As far as I can remember, this is the first time this has happened,” noted prominent crypto commentator CryptoMe in a post on X, highlighting the historic nature of the flows.
Data compiled by SoSoValue shows a consistent trend building over recent weeks. Ethereum ETFs have now enjoyed 18 consecutive days of net inflows, culminating in the near-record $240.29 million haul. The crypto-linked investment products now boast $3.74 billion in cumulative net inflows, $830.98 million in total daily trading volume, and $11.05 billion in net assets, making up roughly 3.25% of Ethereum’s market cap.
The top performer, BlackRock’s ETHA, contributed just over $163 million on June 11 alone and leads all Ethereum ETFs with $5.13 billion in cumulative inflows.
In comparison, while still dominant in absolute terms, spot BTC ETFs appear to be facing diminishing momentum. Despite some $45 billion in cumulative inflows and almost $132 billion in assets under management (AUM), net inflows have softened over the past week. After a mid-week rally on June 10, where the ETFs brought in $431.12 million, flows tapered off, dropping to $164.57 million on June 11.
Even BlackRock’s flagship IBIT, which recently shattered records by becoming the fastest ETF in history to surpass $70 billion in AUM, is now experiencing moderated daily volumes, down to $1.89 billion yesterday.
Regulatory Clarity, DeFi Potential Spark Inflows
Market watchers have pointed to a combination of factors to explain Ethereum’s sudden surge in the spot ETF space. These include optimism in the decentralized finance (DeFi) sector following recent remarks by U.S. Securities and Exchange Commission (SEC) Chair Paul Atkins directing the agency to explore rule amendments to accommodate on-chain financial systems.
Other key drivers include a perception of ETH as an undervalued asset as well as institutional spillover from Bitcoin ETFs. Regulatory clarity, particularly regarding Ethereum’s classification, appears to be easing institutional hesitancy.
Furthermore, ETH’s stronger recent price performance, up 5.4% over the past week compared to BTC’s 2.9% gain, and 12% over the last month versus the king cryptocurrency’s 4.9%, is reinforcing the undervaluation narrative, especially with Bitcoin trading just 3.8% below its recent all-time high while Ethereum remains 43.5% below its peak.
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
TL;DR
- Alongside the rest of the crypto market, Ripple’s native token has headed south with a 3% daily decline that has pushed it to $2.25.
- The XRP Army, though, remains bullish on the asset’s future price performance, especially since a key date in the legal case between Ripple and the SEC is approaching.
Save the Date: June 16
It has been nearly three months since Ripple CEO Brad Garlinghouse triumphantly announced on X that the legal spat between his company and the US securities regulator had effectively come to an end. Although both parties indeed reached an agreement regarding the payment Ripple has to make, Judge Torres rejected their joint motion, which would have extended the lawsuit, and there is no official conclusion yet.
Judge Torres argued that the agency and the company failed to file the motion correctly under Rule 60. As of now, June 16 stands as the most crucial date for a major update about the potential resolution between the two, as the SEC must file a status update with the US Court of Appeals by that date.
Numerous XRP Army members outlined the significance of the date, including perma-bull John Squire. He asked his over 500,000 followers whether Ripple’s XRP will finally get regulatory clarity after Monday.
All eyes on June 16.
The SEC still hasn’t closed the Ripple case and silence only builds the pressure.
Will this be the day $XRP finally gets regulatory clarity?
The clock’s ticking… pic.twitter.com/d1SQDWWHCO
— John Squire (@TheCryptoSquire) June 12, 2025
It’s worth noting that this is not a “settlement or bust” date for the case, but it’s an important deadline for a procedural update. Any real settlement would still require Judge Torres’s final approval, which could take more time.
Will XRP’s Price React?
Although June 16 could have significant implications in the legal case between Ripple and the SEC, market experts believe it won’t have a big positive impact on XRP’s price movements. After all, the hype surrounding the closure of the case has come and gone, and investors have already factored its resolution. However, there could be further pain on the horizon if the case is extended again, as it has been in the past.
For now, XRP’s price struggles at $2.25 following a 3% daily drop. Still, the XRP Army continues to be highly bullish on the asset’s future price trajectory, marking some mindblowing targets like the one below.
If you solve a real problem for real customers, then there will not be a limitation for $XRP‘s price.
Utility drives the price, not market cap and not supply. Only utility…
Leave a like if you believe in $10,000+ per #XRP! pic.twitter.com/sL8T9WiXIW
— ⚔️ XRP Avengers ⚔️ (@XRP_Avengers) June 12, 2025
Binance Free $600 (CryptoPotato Exclusive): Use this link to register a new account and receive $600 exclusive welcome offer on Binance (full details).
LIMITED OFFER for CryptoPotato readers at Bybit: Use this link to register and open a $500 FREE position on any coin!
Forex3 years agoForex Today: the dollar is gaining strength amid gloomy sentiment at the start of the Fed’s week
- Forex3 years ago
Unbiased review of Pocket Option broker
- Forex3 years ago
Dollar to pound sterling exchange rate today: Pound plummeted to its lowest since 1985
- Forex3 years ago
How is the Australian dollar doing today?
- World3 years ago
Why are modern video games an art form?
- Cryptocurrency3 years ago
What happened in the crypto market – current events today
- Commodities3 years ago
Copper continues to fall in price on expectations of lower demand in China
- Economy3 years ago
Crude oil tankers double in price due to EU anti-Russian sanctions
