Terra Luna Classic (LUNC) jumped nearly 100% today, after CoinDesk journalist Ian Allison appeared at Binance Blockchain Week Dubai wearing a vintage Terra Luna logo t-shirt while moderating interviews with executives from Mastercard, Ripple, and TON.

The image circulated across X and Telegram within hours, triggering discussion that the moment felt like a nostalgic revival of one of crypto’s most notorious altcoins.

Terra Luna Is Back? Not Quite

Traders had already been rotating into LUNC ahead of a scheduled network upgrade supported by Binance. 

The exchange confirmed it would pause deposits and withdrawals during the upgrade, signalling strong operational backing from the world’s biggest trading venue.

That announcement pushed volume sharply higher, setting the stage for fast speculative flows.

Token burn trackers reported aggressive supply reduction recently, including hundreds of millions of LUNC removed from circulation in the past week. Community messaging amplified the theme, reviving the idea of a shrinking float.

04 December 2025:

Terra Classic $LUNC Max Supply: 6,480,742,753,204 Tokens Burned Previous Day: 83,945,886 (🔴-0.0013%)

Terra Classic $LUNC Price: $0.00002834 (🟢+0.11%) pic.twitter.com/Gwppn0zHZH

— LUNC BURN UPDATE (@LuncBurnDaily) December 4, 2025

This narrative resurfaced at the same moment as Allison’s shirt went viral, reinforcing the perception of a coordinated cultural comeback.

The Do Kwon Effect

The rally also coincides with renewed attention on Do Kwon’s ongoing sentencing proceedings in the United States. Traders view developments toward legal conclusion as a potential reset point, allowing LUNC to trade like a legacy meme asset rather than a distressed one.

As volume spiked and spot markets tightened, the narrative gained traction quickly.

As expected, the DOJ wants a 12-year prison sentence for Do Kwon. Their sentencing submission suggests they don't buy Kwon's apologies, and they attack his attempts to evade blame and cast himself as a victim of Montenegrin officials. pic.twitter.com/Ub8MKk8iiP

— Alexander Osipovich (@aosipovich) December 5, 2025

Why the T-Shirt Moment Landed So Loudly

Terra’s collapse remains one of crypto’s most dramatic episodes, erasing billions in market value in 2022 and triggering regulatory crackdowns worldwide. Many in the industry still associate the logo with that moment — a symbol of excess, leverage, and systemic failure.

Seeing the design reappear on a main stage alongside established institutions added an unexpected emotional layer to the rally. It represented a strange throwback and also an emotional provocation.

$LUNC just went x2 and added 150 million to its market cap.

Not because of some innovation, not because of fundamentals, but simply because a @IanAllison123 from CoinDesk wore a $LUNC t-shirt on camera.

This is the reality of the market. People are not chasing technology,… pic.twitter.com/TpHeZwCWgm

— Cryptech Sam 𐤊 (@Cryptech_Sam) December 5, 2025

Terra’s Ghosts Are Still Here

Terra’s algorithmic stablecoin unraveled three years ago, triggering contagion that spread into lending platforms, hedge funds, and later exchanges. Millions of investors were left underwater, and it drove the biggest crypto winter to date. 

Today’s rally simply shows that memory, speculation, and narrative still carry weight in crypto — sometimes more than fundamentals.

As LUNC surged, the sight of that shirt reminded markets how quickly sentiment can swing, even for a project once written off as irrecoverable.

The post Terra Luna Classic (LUNC) Soars 100% After Viral T-Shirt Moment in Dubai appeared first on BeInCrypto.

Is Elon Musk’s SpaceX Really Selling Its Bitcoin, Or Is It Just FUD?

SpaceX’s recent Bitcoin transfers have sparked fresh debate across crypto markets, with Twitter speculation claiming the company may be preparing to sell. 

However, on-chain data suggests a more nuanced picture, and there is no confirmed evidence of liquidation.

SpaceX Bitcoin Sell Fears

Arkham data shows SpaceX moved around 2,246 BTC in the past 12 hours and one week prior. 

The transfers include two large outflows totaling over $200 million, alongside several small inbound transactions from Coinbase Prime.

The company still holds over 5,012 BTC, valued at roughly $448 million. That means less than half of SpaceX’s tracked Bitcoin has moved, despite viral claims that the company transferred “all” of its holdings.

Crypto Twitter rushed to interpret the outflows as imminent selling. Social media posts argued that fund movement from treasury wallets to new addresses signals a liquidation event, a behaviour often seen before corporate selloffs.

SpaceX is about to SELL all their Bitcoin. They’ve moved it all to an exchange, a move done only when selling. pic.twitter.com/uQ8AAsNCWe

— Jacob King (@JacobKinge) December 5, 2025

However, the receiving wallets are not labelled as exchanges, and no direct link to Binance, Coinbase or OTC liquidation desks has been confirmed. 

This weakens the assumption that the transfers represent a planned dump.

There are also neutral explanations. SpaceX could be rotating wallets for security, consolidating funds, or shifting custody structure. Corporate treasuries regularly rebalance or upgrade storage without selling.

Also, this move could even be interpreted as potentially bullish. Funds may be headed toward OTC desks or multi-sig vaults instead of sell-side liquidity pools, which would apply no immediate market pressure.

Today, Bitcoin has dropped below $90,000 again, but it was mostly driven by US ETF outflows and macro fears from the Bank of Japan increasing interest rates. 

For now, SpaceX’s activity is notable, but not conclusive. Until the destination wallets link to a known exchange or distribution pattern appears, the claim that Elon Musk’s space giant is selling Bitcoin remains unproven.

The line between fear and fact is thin, and today, the noise is louder than the data.

The post Is Elon Musk’s SpaceX Really Selling Its Bitcoin, Or It’s Just FUD? appeared first on BeInCrypto.

Bitcoin slipped under $90,000 this week as liquidation pressure, weak ETF demand, and macro uncertainty converged. 

The fall erased gains from earlier attempts to reclaim the $94,000–$95,000 zone, marking the second major breakdown this month.

Forced Liquidations Across the Market

The catalyst was a cascade of forced long liquidations. Nearly $500 million was wiped out across exchanges, including around $420 million in long positions, and over 140,000 traders were liquidated in a 24-hour window. 

ETF flows failed to absorb the selling. BlackRock’s iShares Bitcoin Trust recorded six straight weeks of outflows totaling more than $2.8 billion. 

US ETF inflows fell to just $59 million on December 3, signalling fading appetite from institutions.

Macro Pressure Added Fuel to the Drop

The macro backdrop turned hostile. The Bank of Japan signaled a possible rate hike, threatening the carry-trade liquidity that helped sustain global risk assets. 

Traders also derisked ahead of the US PCE inflation release, forcing Bitcoin into a cautious $91,000–$95,000 holding pattern.

BREAKING: Bitcoin pumped $1500 on the lower than expected PCE data. But then it crashed -$3500 in 60 minutes.

This wiped out $155 million worth of long positions in last 1 hour.

There is no negative news or sudden FUD which could cause this type of sudden dump.

It appears that… pic.twitter.com/G3twQw0Yud

— Bull Theory (@BullTheoryio) December 5, 2025

The latest US PCE data arrived broadly in line with expectations, showing cooling core inflation but still above the Federal Reserve’s target. 

Markets reacted cautiously, interpreting the print as evidence that inflation continues to ease, but not fast enough to guarantee rapid rate cuts.

Corporate signals amplified the fear. MicroStrategy warned it may sell Bitcoin if its treasury-valuation ratio weakens, triggering a 10% decline in its stock. 

Miner stress increased as energy costs rose, hashrate fell, and high-cost operators began liquidating BTC to remain solvent.

On-chain flows reflected split sentiment. Matrixport moved more than 3,800 BTC off Binance into cold storage, suggesting accumulation among long-term holders. 

However, analysts estimate that a quarter of all circulating supply remains underwater at current prices.

Matrixport has withdrawn 3,805 $BTC($352.5M) from #Binance over the past 24 hours.https://t.co/GLzqCvlogX pic.twitter.com/54whKSsISy

— Lookonchain (@lookonchain) December 5, 2025

Community Sentiment Shows Fear — With Pockets of Optimism

Traders on social platforms debated whether the move was natural or manipulated. Market analysts largely blamed excess leverage, thin liquidity, and macro-hedging rather than coordinated price intervention. 

Others pointed to long-term optimism, citing JPMorgan’s fresh $170,000 price model for 2026.

Bitcoin now trades near a critical pivot. Liquidation clusters between $90K and $86K leave the market vulnerable without renewed ETF inflows or easing macro pressure. 

A move back above $96,000–$106,000 is needed to confirm recovery momentum.

For now, volatility rules the tape. Bitcoin has fallen, rebounded, and broken again — and traders are watching for the next decisive move.

The post Why Did Bitcoin Drop Below $90,000 Again? A Breakdown of the Latest Sell-Off appeared first on BeInCrypto.