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ARKA NOEGO / NOAH’S ARK: On Solidarity and Bitcoin

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A Peaceful Revolution

During the 1980’s, a genuine popular movement arose in Poland that ended up toppling the communist regime in that country. Although there were many anticommunist intellectuals writing and being read in Poland at the time, the spark that ignited the peaceful revolution that ended Soviet rule was lit not by the educated elite but by the working class: workers at the Lenin shipyard in Gdańsk launched a strike in 1980 that quickly spread to workers across industries and throughout the country. These workers formed the Interfactory Strike Committee, which drew up a list of 21 demands. Then, in a move reminiscent of the apocryphal story of Martin Luther nailing his 95 theses to the Church in Wittenberg, they wrote their demands on wooden boards and hung them from the gates of the Lenin shipyard.

Workers at the Lenin shipyard in Gdańsk hang their 21 demands from the shipyard gates.

The Gdańsk strike was triggered, predictably, by the government raising prices in a price-controlled economy while also denying wage increases. To make matters worse, Lenin shipyard managers had just fired a popular forklift operator, Anna Walentynowicz. Her co-workers believed this was political punishment for her union organizing. “What?” You might ask. “A communist government opposed to labor unions?” Yes—throughout the Soviet Bloc, only government-authorized labor unions affiliated with the ruling communist parties were permitted. One of the key demands of the Interfactory Strike Committee was the ability to form independent trade unions.

Of course, the image of workers striking against a communist government was terrible optics for the Polish government. In addition, as a Warsaw Pact country, Poland faced the continuous prospect of military intervention by the USSR. No one knew if or when Moscow would decide to “send in the tanks” like they had done in Hungary in 1956 and Czechoslovakia in 1968. Indeed, Brezhnev and the Politburo debated the idea in 1980. Eventually, they decided against it—in part because the First Secretary of the Polish United Workers’ Party (PZPR), Edward Gierek, feared a national bloodbath. The first round of strikes and protests in Gdańsk had attracted over 700,000 people, and, simply put, the Polish state feared Polish society. PZPR leadership opted to declare Martial Law instead. Thus began a decade of power struggles between the government and the people which culminated in the overthrow of the communist system in 1989.

The remarkable thing about the Polish transition to a market economy was how peaceful it was. That was largely a result of the overwhelming social consensus among Poles of all political orientations that government control of the economy needed to be dramatically lessened. The movement that emerged from the Interfactory Strike Committee was called “Solidarność”, or “Solidarity”, drawing on the trade union tradition of workers standing in solidarity with one another to collectively bargain for better wages and working conditions. Solidarity’s demand for independent trade unions was met: it did indeed become the first non-communist, non-government trade union in the Soviet Bloc.

When the strikes in Gdańsk first erupted, a marginally employed graphic designer, Jerzy Janiszewski, designed a logo for the union based on graffiti that he had seen scrawled on walls in the city. He shaped the letters of “Solidarity” to look like people standing together in a crowd, and he added a Polish flag to emphasize national unity. This logo “went viral”—it quickly began to be used nationwide as a symbol of victory over tyranny.

The solidarity logo, designed by Jerzy Janiszewski.

The success of the Solidarity trade union soon inspired non-working class Poles to “stand in solidarity with Solidarity”, and in this way it became a genuine mass movement. People from all corners of Polish society came together to oppose dictatorship and economic control: Whether left, right, or center, religious or non-religious, people—even many actual members of the PZPR—were so disillusioned and unhappy with “actually existing socialism” that, for a good decade, other social divisions started to matter far less than standing together in the fight for economic and political freedom. In 1989, the Solidarity trade union won the first partially free elections in the Soviet Bloc. This inaugurated the fall of communism in Poland and generated momentum for many similar movements in other Warsaw Pact countries.

Bitcoin as Solidarity

Today, I see many resonances between Solidarność and the growing social movement behind Bitcoin. Like Solidarity, Bitcoin crosscuts ideological and cultural divisions. Whether you are left, right, center, or unaligned; religious or not; a proponent of “tradition” or of rethinking traditional social roles; and regardless of the form of government you prefer (democracy, republicanism, monarchy, theocracy, party rule, etc.)—Bitcoin has appeal. This is because, regardless of what type of government or culture people prefer, they generally want to spend their own money whenever and however they choose. They also want that money to keep its value over time, so that they can save it profitably for themselves and for future generations.

For decades, governments around the world have been chipping away at both of these human desires: they insist on controlling how people spend their money while devaluing it at the same time. This destruction of the savings and economic freedom of entire populations can only continue for so long before people come together to say, “enough.” That is why Bitcoin can be seen as a much-needed monetary reformation: the separation of money and state.

Like Solidarity, Bitcoin is a grassroots movement emerging from below. It has a name, a logo, and open source code that are used worldwide but are not owned by anyone. While the mainstream media pays a lot of attention to “Bitcoin billionaires”, the vast majority of Bitcoin owners are ordinary people—mostly working class—who see in it hope for a better future: A future where the fruits of their labor, their life savings, are not frittered away by irresponsible governments engaged in schemes to devalue currency and control economic life. More symbolically, the 21 demands of the Interfactory Strike Committee mirror the absolute scarcity of the only 21 million bitcoin that will ever be in existence, a number hard coded into the Bitcoin protocol.

Noah’s Ark: Surviving the Flood of Money

During the rise of Solidarity, a group of poets and musicians were touring Poland, performing songs to remind people that a better life was possible. Their names were Jacek Kaczmarski, Przemysław Gintrowski, and Zbigniew Łapiński. They recorded many “protest songs” whose messages had to be carefully worded and concealed to avoid being censored. However, despite their use of poetic metaphors and allusions to history, literature, art, and the Bible, everyone understood what they were really talking about. Their songs enjoyed immense popularity throughout Poland.

I grew up listening to the songs of these three troubadours. My parents, like many in their generation, were active in the Solidarity movement and brought that ethic with them when they immigrated to the United States, where I was born. Some of the trio’s songs have particular resonance for our own historical moment and for the Bitcoin movement. In that spirit, I wanted to share with you one of Kaczmarski, Gintrowski, and Łapinski’s great songs, “Noah’s Ark”. It references the Biblical story of Noah, who survived a massive, months-long flood by building an Ark.

One way to interpret the “flood” the trio sings about in “Noah’s Ark” is as the “flood” of currency that accompanies periods of hyperinflation. Governments that are politically in trouble or collapsing always face severe economic problems, and they often print dramatic amounts of money in order to “boost economic activity” within their borders. This tends to backfire, however, as the value of the money plummets and people become increasingly reluctant to use it. This only compounds the political and economic woes of the regime, accelerating its demise. For this reason, periods of hyperinflation tend to accompany turnovers of political regimes. When I first visited Poland in 1990, for example, it was in the middle of a hyperinflation accompanying the transition between a communist and a capitalist mode of political economy. The national currency had to be entirely re-based and reissued in order to restore public confidence in it.

Those who have survived “floods” of hyperinflation around the world know how devastating they can be. Millions of Polish people lost their entire life savings as a result of the collapse of a politically and economically non-viable system of government. But Kaczmarski, Gintrowski, and Łapiński’s song reminds us that the deluge is survivable—if we have planned ahead and if we believe in our own power, as individuals and as a community, to navigate the storms.

Please enjoy their music and lyrics, which I have translated into English below.

The album cover for “Mury w Muzeum Raju,” which was filled with anticommunist protest songs, is a parody of communist propaganda images in which Marx, Lenin, and Stalin were depicted in the same pose, all looking in the same direction (to the viewer’s left), often against a red background.

Arka Noego

Noah’s Ark

W pełnym słońcu w środku lata, wśród łagodnych fal zieleni,

Wre zapamiętała praca, stawiam łódź na suchej ziemi.

Owad w pąku drży kwitnącym; chłop po barki brodzi w życie.

Ja pracując w dzień i w nocy, mam już burty i poszycie.

Budujcie Arkę przed potopem!

Dobądźcie na to swych wszystkich sił!

Budujcie Arkę przed potopem,

Choćby tłum z waszej pracy kpił!

Ocalić trzeba co najdroższe,

A przecież tyle już tego jest!

Budujcie Arkę przed potopem

Odrzućcie dziś każdy zbędny gest.

Muszę taką łódź zbudować, by w niej całe życie zmieścić.

Nikt nie wierzy w moje słowa; wszyscy mają ważne wieści.

Ktoś się o majątek kłóci, albo łatwy węszy żer.

Zanim się ze snu obudzi, będę miał już maszt i ster!

Budujcie Arkę przed potopem!

Niech was nie mami głupców chór!

Budujcie Arkę przed potopem!

Słychać już grzmot burzowych chmur!

Zostawcie kłótnie swe na potem;

Wiarę przeczuciom dajcie raz!

Budujcie Arkę przed potopem,

Zanim w końcu pochłonie was!

Każdy z was jest łodzią w której może się z potopem mierzyć

Cało wyjść z burzowej chmury—musi tylko w to uwierzyć!

Lecz w ulewie grzmot za grzmotem,

i za późno krzyk na trwogę,

I za późno usta z błotem, wypluwają mą przestrogę!

“Budujcie Arkę przed potopem!”

Słyszę sterując w serce fal!

“Budujcie Arkę przed potopem!”

Krzyczy ten co się przedtem śmiał!

“Budujcie Arkę przed potopem”—

Naszych nad własnym losem łez!

“Budujcie Arkę przed potopem!”

Na pierwszy i na ostatni chrzest!

In the full sun in the middle of summer, amidst gentle waves of green,

Verily, the enduring work: I raise a ship on dry ground.

An insect buzzes in a blooming bud; a peasant wades through life up to his shoulders.

I, working day and night, already have the starboard and the sheathing.

Build an Ark before the flood!

Give this all of your energy!

Build an Ark before the flood,

Though the crowd ridicule your work!

What is most precious must be salvaged,

And there is so much of it already!

Build an Ark before the flood!

Cast aside, today, every superfluous gesture.

I must build a ship in which to fit my entire life.

No one believes my words; everyone has “more important” affairs.

Someone is arguing over a fortune; or he smells easy prey.

Before he wakes from sleep, I will have a mast and helm!

Build an Ark before the flood!

Don’t be beguiled by the choir of fools!

Build an Ark before the flood!

You can already hear the rumble of storm clouds!

Leave your arguments for later;

For once, trust your instincts!

Build an Ark before the flood,

Before it finally overcomes you!

Every one of you is a ship in which you can square off with the flood

To come out of the storm cloud whole—you just need to believe that!

But, in the downpour, lightning strike after lighting strike,

And the cries of danger come too late,

Too late do lips spit out my warning with the mud!

“Build an Ark before the flood!”

I hear, steering into the heart of the waves!

“Build an Ark before the flood!”

Cries the one who previously laughed!

“Build an Ark before the flood”—

of our tears over our fate!

“Build an Ark before the flood!”

For the first and the last baptism!

This is a guest post by Natalie Smolenski. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.



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Bitcoin and Stock Market Rally Hard as White House Narrows Scope of Tariffs

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Digital assets and equities are soaring on the weekly open amid renewed optimism stemming from the White House taking a softer tone on tariffs.

While tariff threats initially sparked one of the worst stock market drawdowns in recent memory, reports are now suggesting that President Trump’s aggressive trade negotiations may be in the process of a smooth resolution.

Citing “US officials familiar with the matter,” Bloomberg reports that Trump’s reciprocal tariffs may be more targeted than initially anticipated, with some countries being exempt, and some sector-specific levies being delayed by the White House.

The Wall Street Journal reported similar information.

All major stock indices opened the week well into the green, while Bitcoin (BTC) is up 3% on the day and is now up 15% from its 2025 low near $76,500.

Said Tobin Marcus of Wolfe Research in a note seen by CNBC,

“Omitting the sectoral tariffs from the April 2nd package significantly reduces both its aggregate scale and the maximum rate on targeted sectors, given that all of Trump’s tariffs to date have been designed to stack… The ceiling for reciprocal tariffs on April 2 remains dramatic, and we still expect a negative market reaction, but the scale won’t be as severe and the sectoral impacts won’t be as concentrated.”

However, in a post on Truth Social, President Trump announced that “secondary tariffs” would be placed on Venezuela and any country that purchases oil and/or gas from the country. Trump cited numerous reasons, including “the fact that Venezuela has purposefully and deceitfully sent to the United States, undercover, tens of thousands of high level, and other, criminals, many of whom are murderers and people of a very violent nature.”

At time of writing, BTC is trading at $88,013.

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Tabit Insurance Raises $40 Million Bitcoin-Funded Insurance Facility

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Tabit Insurance SCC has announced the capitalization of a $40 million insurance facility, funded entirely in Bitcoin, according to a press release sent to Bitcoin Magazine. This marks the first time a property and casualty (P&C) insurer has held all of its regulatory reserves in BTC while continuing to denominate its insurance policies and premiums in U.S. dollars. The company expressed the benefits of its funding approach, allowing regulators and auditors to verify reserves in real time.

According to Tabit, its use of BTC as capital is intended to provide an alternative source of capacity for the insurance industry. The company operates as a segregated cell company, which allows for additional cells to be formed to deploy capital in the insurance sector. This structure also enables BTC holders to earn USD returns through their own segregated cells.

William Shihara, co-founder of Tabit, stated, “Our approach to capital allocation underscores our confidence in providing a steady hand to our partners. By combining traditional balance sheet strength with carefully chosen assets like bitcoin, we’re able to stay responsive to market shifts and better serve the insurance community. This solution offers a regulated dollar return which we’re excited to earn on an alternative asset class such as bitcoin.”

The company also emphasized that its reserves are verifiable on the blockchain through a proof-of-reserves model, which allows for real-time transparency beyond the typical quarterly disclosures in the insurance industry.

“At Tabit, we saw a clear opportunity to enhance transparency within an industry that has been sorely lacking in innovation,” said Stephen Stonberg, co-founder and CEO. “We’re eager to move the insurance sector into the future by demonstrating what is possible by allowing an insurer to access a largely new and untapped source of insurance capital: digital assets.”

Tabit is headquartered in Bridgetown, Barbados, a jurisdiction known for its captive insurance market and is a top ten global captive jurisdiction. The company states that Barbados’ regulatory framework provides oversight for its operations.

Tabit plans to work with insurance carriers, brokers, and organizations seeking additional capacity or alternative risk financing options. It also aims to collaborate with large holders of digital assets who want to generate USD income while maintaining BTC exposure. More information about Tabit Insurance SCC can be found on their website here.



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$90K Target Ahead as BTC Options Volume nears $800M

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Bitcoin’s price rose 2.6% on Sunday, March 23, crossing the $86,000 mark after a three-day consolidation around $84,000. With growing market optimism following the recent Fed rate pause, speculative BTC traders deployed increased leverage over the weekend. Will BTC advance above $90,000, or will it reverse to $80,000 in the week ahead?

Bitcoin (BTC) Retakes $85,500 After Three-Day Consolidation

After a prolonged consolidation phase, Bitcoin (BTC) made a major recovery bounce on Sunday. Following Trump’s appearance at Blockworks’ Digital Asset Summit, many short-term traders opted to take profits on their BTC holdings.

Despite the decline, Bitcoin continues to find buyers, as the recent U.S. Fed rate pause announced on Wednesday prompted macro-sensitive capital to flow toward risky assets.

Bitcoin price action, March, 24 2025 Bitcoin price action, March, 24 2025 
Bitcoin price action, March, 24 2025

Bullish tailwinds from the Fed rate pause counteracted the downward pressure from profit-taking, leading to a three-day stalemate at the $84,000 level since Thursday.

However, as sell-side pressure subsided, BTC price recorded a major breakout above $86,000 on Sunday, March 23. The chart above shows how BTC rose 2.6%, hitting a daily peak of $85,600.

BTC Options Volume nears $800M as Whales Return After Fed Rate Pause

Bitcoin price demonstrated remarkable resilience consolidating around $84,000 over the past three days, as macro-sensitive institutional investors reassess their stance on U.S. economic policies.

Earlier this month, fears of inflationary pressure from Trump’s proposed tariffs triggered a cautious retreat from risk assets, including Bitcoin. However, with recent CPI and PPI reports showing inflation cooling and the Federal Reserve opting to pause rate hikes, large investors appear to be re-entering the market.

This shift in sentiment is reflected in broader financial markets. The S&P 500 surged by 32 points following the Fed rate pause, signalling renewed risk appetite. As Bitcoin mirrors this trend, it has seen a sharp uptick in speculative trading activity from large investors.

Validating this stance, Coinglass derivatives market data shows BTC’s options trading volume skyrocketed 24% in the last 24 hours, pushing total volume above $793 million.

Bitcoin Derivatives Market Analysis, March 24 | CoinglassBitcoin Derivatives Market Analysis, March 24 | Coinglass
Bitcoin Derivatives Market Analysis, March 24 | Coinglass

What Does 24% Options Trading Surge Mean for Bitcoin Price Action This Week?

Options trading is a derivatives market strategy that allows traders to bet on the future price movements of an asset without directly purchasing it. This technique is particularly popular among institutional investors and whales because leverage enables traders to control large positions with relatively small capital, amplifying returns, especially during periods of market volatility.

Given that options trading volume surged 24% over the last day, it suggests that whales and institutional investors are taking bullish positions on BTC’s near-term price movements.

Why is BTC Options Volume Rising?

The renewed interest in BTC options trading aligns with key macroeconomic narratives:

  • Fed Rate Pause Fuels Risk Appetite – With the Fed pausing rate hikes, liquidity-sensitive assets like Bitcoin become more attractive.
  • S&P 500 Rally Indicates Broader Market Confidence – TradFi investors reallocating capital to stocks may also be expanding exposure to BTC.
  • Altcoin Season Rotation – With BTC holding steady above $85,000, traders are betting on volatility to capture short-term gains.

Bitcoin Price Forecast: Data Supports Bullish Outlook, But $90K Flip Unlikely

Beyond options trading, other key metrics reinforce a positive BTC outlook for the week ahead:

  • Open Interest Rose 3.88% to $54.04B – A sign that new capital is entering the derivatives market.
  • Long/Short Ratio at 1.28 on OKX & 1.2217 on Binance – Indicates more traders are placing long bets.
  • Liquidations Favor Shorts – Over the last 12 hours, $14.2M in short positions were wiped out, compared to just $2.82M in longs.

With Bitcoin showing strong demand above $86,000 and institutional investors actively positioning through options, a bullish breakout toward $90,000 remains a distinct possibility. However, signals on the daily Bitcoin price forecast charts below suggest the rally could face significant resistance below the $90,000 mark.

Bitcoin Price Forecast: BTCUSD Technical Indicators Signal $90,000 ResistanceBitcoin Price Forecast: BTCUSD Technical Indicators Signal $90,000 Resistance
Bitcoin Price Forecast: BTCUSD Technical Indicators Signal $90,000 Resistance

Despite these bullish signals, the technical chart presents a nuanced picture. While Bitcoin has reclaimed $85,600, the looming death cross—where the 50-day moving average trends below the 200-day moving average—remains a cause for concern. This bearish formation suggests that unless BTC can decisively break above $87,200, a retracement toward the $80,000 region remains plausible.

Bulls must clear this key resistance zone to sustain momentum toward $90,000. If BTC fails to establish support above $87,200, bears could regain control, triggering a potential pullback.

Frequently Asked Questions (FAQs)

Bitcoin’s bullish momentum suggests it could approach $90,000, but resistance around $87,200 and technical signals indicate potential pullbacks.

Institutional investors and whales are increasing leverage after the Fed rate pause, betting on Bitcoin’s near-term price movement.

The Fed rate pause, stock market trends, and increased institutional activity in options trading are driving Bitcoin’s recent price movements.

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ibrahim

Crypto analyst covering derivatives markets, macro trends, technical analysis, and DeFi. His works feature in-depth market insights, price forecasts, and institutional-grade research on digital assets.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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