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As global markets reel from a broad selloff, JPMorgan is pushing back against the prevailing fear. The bank argues that Bitcoin’s sharp decline has created a more compelling long-term setup than gold, even as investors rush toward traditional safe havens.

Key Takeaways
JPMorgan says Bitcoin is deeply oversold and more attractive long term than gold.Prices below mining costs point to capitulation-level stress.Extreme pessimism today could set up a future rebound.
In a note to clients, JPMorgan strategist Nikolaos Panigirtzoglou highlighted the extreme divergence between the two assets. Gold has climbed roughly one-third since autumn, while Bitcoin has fallen more than 40% from its October peak.
According to the strategist, this gap reflects sentiment-driven behavior rather than a decisive verdict on Bitcoin’s long-term role as a store of value.
Price Below Production Signals Stress
One of JPMorgan’s key arguments is that Bitcoin has slipped well below its estimated cost of production, which the bank places near $87,000. Historically, trading beneath production costs has coincided with miner stress and forced selling, conditions that often appear near market bottoms.
While unprofitable miners may eventually exit and lower those costs, the current discount remains unusually large.
ETF Outflows Show Widespread Risk Aversion
Negative sentiment is not limited to price action. Spot Bitcoin ETFs continue to see steady outflows, signaling that both retail and institutional investors are stepping back simultaneously. JPMorgan views this broad-based retreat as a sign that pessimism may already be largely priced in.
The note also points to a record-low Bitcoin-to-Gold volatility ratio, now around 1.5. This shift is driven not only by Bitcoin’s weakness but also by rising volatility in gold itself.
On a volatility-adjusted basis, JPMorgan estimates Bitcoin would need a vastly larger market capitalization to match private-sector investment levels in gold, underscoring the scale of potential upside over a longer horizon.
A Long-Term Bet, Not a Short-Term Call
JPMorgan cautions that such a re-rating is not realistic in the near term. Still, the bank believes the current environment of fear, forced selling, and crowded gold trades could mark an attractive entry point for investors willing to look past the broader market crash and focus on long-term positioning rather than short-term turbulence.
#JPMorganBitcoin

The sharp downturn across the crypto market is translating into mounting unrealized losses for some of the industry’s largest corporate holders, underscoring how prolonged downside pressure is straining balance sheets even among long-term believers.

Key takeaways
Strategy is sitting on roughly $4.5 billion in unrealized losses tied to its Bitcoin holdingsBitmine faces an even larger paper drawdown of around $7.5 billion on its Ethereum positionThe losses remain unrealized, but reflect sustained downside pressure across major digital assetsEthereum’s underperformance versus Bitcoin has amplified losses for ETH-heavy holders
According to recent data, Strategy is currently sitting on an estimated $6.1 billion unrealized loss on its Bitcoin holdings, which total 713,502 BTC. The figure reflects the gap between the company’s aggregate acquisition cost and Bitcoin’s current market price, which has fallen sharply amid accelerating selling pressure and widespread liquidations.

Bitmine is facing an even steeper paper drawdown in dollar terms, with roughly $8 billion in unrealized losses tied to its 4.2 million ETH position. Ethereum’s sharper percentage decline relative to Bitcoin over the past week has amplified the impact, pushing Bitmine’s exposure deeper into negative territory as risk appetite across altcoins deteriorates.

Unrealized Losses Highlight Balance Sheet Exposure
These losses remain unrealized, meaning neither firm has necessarily sold assets at a loss. However, the scale of the drawdowns highlights how extended bearish conditions can weigh heavily on entities with concentrated crypto exposure, particularly when prices fall well below long-term accumulation ranges.
The broader market context adds to the pressure. Bitcoin is trading near multi-month lows after failing to sustain rebounds, while Ethereum and other large-cap assets have suffered even larger weekly declines. This environment has increased volatility and forced liquidations across derivatives markets, reinforcing downside momentum and compressing valuations across the sector.
For Strategy, whose corporate identity has become closely intertwined with Bitcoin accumulation, the current drawdown tests investor confidence in its long-term thesis and balance sheet resilience. Bitmine, meanwhile, faces similar scrutiny as Ethereum’s underperformance magnifies the financial impact of its exposure.
While both companies have historically framed such periods as temporary volatility within a longer adoption cycle, the depth of the current unrealized losses illustrates how macro-driven sell-offs and leveraged market dynamics can overwhelm even conviction-based strategies in the short to medium term.
Until broader market conditions stabilize and digital assets reclaim key technical levels, Strategy and Bitmine are likely to remain emblematic of the risks associated with large, concentrated crypto holdings during sustained downturns.
#SaylorStrategy #Ethereum

Bitcoin bleibt der klare Treiber des aktuellen Verkaufsdrucks auf dem Kryptomarkt, nachdem er unter die 67.000 $-Marke gefallen ist, ein Schritt, der die bärische Stimmung verstärkt und zu einer massiven Entschuldung im gesamten Markt geführt hat.

Wichtige Erkenntnisse
Bitcoin fiel unter 67.000 $ und ist in dieser Woche um über 20 % gesunken, wobei 65.000 $ nun die wichtige Unterstützungsebene ist, die es zu beobachten gilt.
Der Verkaufsdruck führte zu mehr als 1,4 Milliarden $ an Liquidationen, wobei Long-Positionen den Großteil der Verluste ausmachten.
Altcoins folgten Bitcoin nach unten, wobei Ethereum, Solana, XRP und BNB größere wöchentliche Rückgänge verzeichneten, als die Risikobereitschaft zusammenbrach.

Bitcoin briefly dropped below the $70,000 mark, extending a sharp downside move that has defined the past several sessions.

Key Takeaways
Bitcoin briefly slipped below $70,000 before stabilizing.Crypto market liquidations surged to nearly $1 billion in 24 hours, with longs taking most of the hit.RSI and MACD remain bearish, signaling continued downside pressure.
The break pushed price deeper into a short-term bearish structure, with lower highs and lower lows continuing to dominate on intraday charts. While the dip below $70K was short-lived, the move confirmed that sellers remain firmly in control for now.
Liquidations surge as leverage unwinds
The sell-off was accompanied by a sharp spike in liquidations across the crypto market. Nearly $1 billion in leveraged positions were wiped out over 24 hours, with long positions accounting for the overwhelming majority.
Bitcoin alone saw hundreds of millions of dollars in forced liquidations, highlighting how crowded long positioning amplified the drop below $70,000 and accelerated the move.
Capitulation signals flash on-chain
On-chain data suggests the move was driven more by stress than by orderly selling. According to Glassnode, Bitcoin’s capitulation metric printed its second-largest spike in the past two years.

Such events typically reflect forced selling and rapid de-risking as traders rush to reduce exposure. Historically, these spikes often occur during periods of heightened volatility and have sometimes preceded local market stabilization, though not always immediately.
Analysts warn volatility is far from over
Market analyst Michael van de Poppe said volatility is unlikely to cool down in the near term, noting that Bitcoin failed to reclaim key resistance levels on lower timeframes.

He highlighted that price is now approaching the zone around the 2021 all-time high, an area that could act as a stronger demand region if selling pressure starts to fade. Despite the bearish trend, he argues that panic-driven sell-offs have historically offered better long-term entry opportunities than chasing strength.
RSI and MACD confirm bearish momentum
On the 4-hour timeframe, Bitcoin continues to trade within a clearly defined descending channel. Every rebound attempt over recent days has been capped at lower resistance levels, suggesting that demand is still too weak to shift momentum. As long as price remains below the upper boundary of this channel, the broader short-term trend remains tilted to the downside.
From a momentum perspective, indicators remain weak. The Relative Strength Index on the 4-hour chart has dropped toward oversold territory, reflecting sustained selling pressure rather than a healthy pullback.

Meanwhile, MACD remains firmly in negative territory, with no clear bullish crossover in sight. Together, these signals suggest that downside momentum is still intact, even if short-term relief bounces emerge.
For now, Bitcoin’s inability to hold above $70,000 keeps the near-term outlook fragile. Heavy liquidations, strong capitulation signals, and weakening momentum point to continued volatility ahead, with the next decisive move likely to come once selling pressure either fully exhausts - or accelerates further.
#bitcoin #cryptocrash

Crypto exchange-traded fund activity continues to reflect a cautious institutional stance, with Bitcoin and Ethereum ETFs extending their recent run of outflows while XRP-linked products post modest inflows.

Bitcoin ETFs recorded another day of sizable net outflows, led by continued pressure on major issuersEthereum ETFs also remained in negative territory, extending a multi-day redemption trendSolana ETF flows stayed muted, with only marginal daily movementXRP spot ETFs posted net inflows, bucking the broader market trend
The divergence underscores a broader risk-off environment across digital assets, even as selective capital continues to target specific narratives.
Bitcoin and Ethereum ETFs remain under pressure
Bitcoin ETF flows stayed negative, with aggregate outflows totaling $544.9 millions accelerating on February 4. Large redemptions were again concentrated among major products, signaling that institutional investors remain reluctant to add exposure amid elevated volatility and weakening price structure. The continued withdrawals align with Bitcoin’s recent move toward key technical support levels, reinforcing a cautious near-term outlook.

Ethereum ETFs showed a similar pattern, recording $79.4 million net outflows despite isolated inflows into select products. The broader trend remains one of capital rotation away from ETH exposure, mirroring Ethereum’s relative underperformance versus Bitcoin and the wider market. With staking-related catalysts still unresolved for several funds, investor appetite appears limited for now.
Solana ETF flows remained subdued, with minimal net movement on the day. While the absence of heavy outflows suggests reduced selling pressure, it also points to a lack of conviction from institutional participants as risk sentiment stays fragile.
XRP ETFs attract selective inflows
In contrast to the broader ETF landscape, XRP spot ETFs recorded $4.83 million in net inflows on the day. The gains were distributed across multiple products, resulting in a positive total despite muted activity elsewhere. While the inflows remain modest in absolute terms, they stand out against the dominant outflow trend across Bitcoin and Ethereum ETFs.

The relative resilience in XRP-linked products suggests targeted positioning rather than a broad shift in sentiment. Investors appear to be selectively allocating capital toward assets perceived as having clearer regulatory trajectories or differentiated catalysts, even as overall market conditions remain challenging.
Taken together, the latest ETF flow data highlights a market still defined by caution and selectivity. Until Bitcoin and Ethereum ETF flows stabilize and turn decisively positive, institutional participation is likely to remain defensive, with inflows confined to isolated pockets rather than signaling a broad-based recovery.
#CryptoETF

Spain’s second-largest bank BBVA has joined the QiValis consortium alongside 11 major European banks to launch a MiCA-regulated euro stablecoin in the second half of 2026, marking another step in Europe’s push to build regulated digital money infrastructure as the United States simultaneously accelerates its own stablecoin framework.

Key takeaways
BBVA joins the QiValis consortium to issue a MiCA-regulated euro stablecoin in H2 2026The initiative aims to strengthen the euro’s role in digital finance and reduce dollar dominanceIn the U.S., Treasury officials say stablecoins could help finance government operationsRegulatory clarity on both sides of the Atlantic is accelerating institutional adoption
A coordinated push toward regulated stablecoins
BBVA’s entry into the QiValis group brings additional weight to a consortium that already includes several of Europe’s largest banks. The planned euro stablecoin will operate under the European Union’s Markets in Crypto-Assets (MiCA) framework, which establishes strict rules around reserves, transparency, governance, and consumer protection.

By anchoring the project within MiCA, European policymakers and banks are signaling a preference for tightly regulated digital currencies issued or backed by established financial institutions, rather than relying on privately issued dollar-pegged stablecoins that currently dominate global crypto liquidity. The move reflects growing concern that Europe risks falling behind in digital payments and settlement if it does not offer a credible, regulated euro-denominated alternative.
While the stablecoin is not expected to launch until late 2026, BBVA’s participation suggests that major banks increasingly view tokenized money as a strategic necessity rather than an experimental side project.
U.S. Treasury signals stablecoins could support government financing
At the same time, momentum is building in the United States around stablecoin legislation. During recent testimony, U.S. Treasury Secretary Scott Bessent said that the GENIUS Act and the stablecoins created under it could become an “important tool for financing the U.S. government.”

The comments mark a notable shift in tone, framing regulated stablecoins not just as a payments innovation but as a potential extension of the government’s funding and liquidity toolkit. Under proposed legislation, compliant stablecoin issuers would be required to hold high-quality reserves such as U.S. Treasury bills, effectively channeling private demand for digital dollars into government debt markets.
This perspective helps explain the growing political support for stablecoin regulation in Washington, where lawmakers are increasingly focused on harnessing digital asset infrastructure rather than pushing it offshore.
Taken together, BBVA’s move in Europe and the GENIUS Act debate in the U.S. highlight a broader trend: governments and large financial institutions are converging on stablecoins as a regulated bridge between traditional finance and digital markets. While the structures differ, both approaches point toward a future where stablecoins play a central role in payments, settlement, and sovereign finance - no longer operating at the edges of the financial system, but firmly within it.
#Stablecoins

Der Verkaufsdruck auf Bitcoin verstärkt die Bedenken, dass der Markt möglicherweise noch nicht mit der Korrektur fertig ist, da sowohl Analysten von Wall Street als auch prominente Investoren zunehmend vorsichtig werden.

Wichtige Erkenntnisse
Stifel warnt, dass Bitcoin in den Bereich von 38.000 $ fallen könnte, wenn sich historische Zyklen wiederholen und die Liquidität weiterhin strafft.
Michael Burry argumentiert, dass Bitcoin als spekulativer Vermögenswert fungiert, wobei weitere Verluste das Risiko von Zwangsverkäufen im Kryptomarkt erhöhen.
Bitcoin wird gerade über 72.000 $ gehandelt, dem niedrigsten Niveau seit 2024, wobei die Bären fest die Kontrolle haben.

Washington’s simmering argument over a possible U.S. Bitcoin reserve boiled over this week, but the Treasury Department made one thing unmistakably clear: no taxpayer money is heading into Bitcoin.

Key Takeaways
The U.S. Treasury says it cannot and will not buy Bitcoin with taxpayer money.Government-held Bitcoin comes only from seizures, not investment decisions.Political pressure for a U.S. Bitcoin reserve is growing, but policy remains unchanged.
Testifying before lawmakers, Treasury Secretary Scott Bessent shut down speculation that the federal government could step in to support Bitcoin during market stress. Asked directly whether Treasury could engineer any form of backstop, Bessent said the law leaves him with no such power, describing the idea of a government rescue for Bitcoin as legally impossible.
No mandate, no backstop
The questioning, led by Representative Brad Sherman, revolved around whether regulators could quietly nudge the financial system toward Bitcoin. Sherman floated scenarios ranging from directing banks to hold BTC to adjusting reserve rules to make crypto more attractive. Each time, Bessent responded with the same message: Treasury lacks the authority to do any of it.
When the discussion veered into more speculative territory - including whether public funds could ever be placed into assets such as Bitcoin or even meme-driven tokens like TRUMP coin - Bessent again drew a hard line. Neither his role at Treasury nor his position overseeing systemic risk gives him permission to deploy public resources into crypto markets.
Seized Bitcoin is a different story
While rejecting new purchases outright, Bessent acknowledged that the U.S. government already holds Bitcoin - not by choice, but by enforcement. He explained that federal authorities retain Bitcoin seized through criminal forfeitures, treating it like any other confiscated asset.
According to Bessent, past seizures amounted to roughly $1 billion in Bitcoin, with about half initially kept by the government. As prices climbed, that retained stash ballooned in value to more than $15 billion. The gain, he stressed, came from market moves, not from any strategic bet by the Treasury.
Republicans look for workarounds
Even with Treasury’s resistance, interest in expanding U.S. exposure to Bitcoin hasn’t disappeared. Senator Cynthia Lummis continues to promote the idea of using gold reserves as a funding source for Bitcoin accumulation, arguing that such a maneuver could fit within existing executive authority. She has said the concept was discussed with Bessent previously and remains on the table from her perspective.
World Liberty Financial enters the spotlight
The hearing widened beyond Bitcoin when Representative Gregory Meeks raised concerns about World Liberty Financial. Meeks cited public comments from the firm’s founder, Eric Trump, who has claimed backing from “meaningful investors” while declining to identify them.
Meeks also referenced pressure from Senator Elizabeth Warren, who has called for scrutiny of a reported deal involving a UAE royal-linked entity. According to Meeks, the structure of the WLFI token raises red flags, including allegations that insiders control who can sell and profit, alongside reports that the token has lost more than half its value.
He urged Treasury to slow or block any Office of the Comptroller of the Currency licensing tied to World Liberty Financial, citing potential national security risks if foreign-linked investors are involved. Bessent declined the request, emphasizing that the OCC operates independently from Treasury’s direct oversight.
A clear message from Treasury
Despite the political noise, the Treasury’s position emerged intact: Bitcoin seized by law enforcement will remain on the balance sheet, but deliberate government accumulation is off the table. For now, any vision of a U.S. Bitcoin reserve appears to be a political debate - not an imminent policy shift.
#BTC

Bitcoin briefly dipped below the $72,000 level during the latest wave of selling before staging a quick rebound back above $73,000, offering a short-lived sense of stability in an otherwise fragile market.

Key takeaways
Bitcoin briefly fell below $72,000 before quickly reclaiming the $73,000 level.Extreme fear and heavy liquidations continue to dominate market sentiment.Analysts are split between historical bottom signals and ongoing macro-driven downside risks.
Despite the bounce, sentiment remains deeply bearish, with Bitcoin still nursing losses of nearly 20% over the past seven days as volatility continues to dominate trading conditions.
The move below $72,000 triggered a fresh burst of liquidations across major exchanges, accelerating downside momentum before buyers stepped in. While the rebound suggests demand remains present at lower levels, the recovery has so far lacked strong follow-through, keeping traders cautious about the market’s near-term direction.
Market Structure Weakens Despite Short-Term Rebound
From a technical standpoint, Bitcoin’s broader structure remains under pressure. The recent drop broke through several key support zones on lower timeframes, reinforcing the prevailing downtrend even as price reclaimed $73,000. Elevated volume during the sell-off points to forced selling rather than controlled distribution, a pattern commonly seen during periods of heightened fear.
Still, some analysts argue that extreme conditions may be setting the stage for a potential turning point. Crypto analyst Michael van de Poppe highlighted that when Bitcoin is measured against the S&P 500, the weekly RSI is approaching the lowest levels ever recorded. Similar readings in 2015 and 2022 coincided with major bear market bottoms, suggesting the current environment could be closer to exhaustion than continuation.
https://twitter.com/CryptoMichNL/status/2019151199866614134
Institutions Warn Liquidity Risks Persist
Caution remains high among traditional financial players. Investment firm Stifel recently warned that Bitcoin could still face substantial downside if macro conditions fail to improve. The firm pointed to tight Federal Reserve policy, slowing progress on U.S. crypto regulation, declining liquidity, and continued ETF outflows as factors that could pressure prices further based on historical market cycles.
Sentiment indicators reflect this uncertainty. Market psychology has sunk into “extreme fear,” a level typically associated with declining participation from both retail and institutional investors. While such conditions have historically preceded sharp rebounds, they have also been known to persist longer than many expect.
Altcoins Lag as Risk-Off Mood Dominates
Altcoins remained under heavy pressure even as Bitcoin stabilized above $73,000. Ethereum, Solana, and XRP all posted sharp weekly losses, with Solana standing out as one of the weakest performers over the past 24 hours. The uneven recovery underscores a broader risk-off environment, where capital remains concentrated on defensive positioning rather than chasing rebounds.
For now, Bitcoin’s ability to hold above $73,000 may determine whether the market can consolidate or if renewed selling pushes prices back toward recent lows.
#BTC

Der Kryptomarkt bleibt unter erheblichem Druck, da der Verkauf sowohl bei den Hauptwährungen als auch bei den Altcoins zunimmt, was den jüngsten Rückgang verlängert und die Stimmung fest im Risiko-averse-Modus hält.

Wichtige Erkenntnisse
Bitcoin und große Altcoins tendieren weiterhin nach unten und halten die Marktstimmung unter Druck.
Solana ist der größte Verlierer der letzten 24 Stunden, da die Schwäche der Altcoins sich vertieft.
Die Liquidationen stiegen auf fast $880 Millionen, was die Verluste auf dem Markt verstärkt.

Bitcoin setzte seinen Rückgang fort und handelte nahe $72,500 nach einer weiteren schwachen Sitzung. Die größte Kryptowährung der Welt ist jetzt stark in der Woche gefallen, während Käufer kämpfen, einzusteigen, da die Volatilität hoch bleibt und der Liquidationsdruck auf den Derivatemärkten steigt. Dies ist das niedrigste Niveau, das BTC seit 2024 erreicht hat.

Ripple hatte eine der geschäftigsten Wochen seit Monaten, mit der Einführung von regulatorischen, institutionellen und Tokenisierungsentwicklungen, während der Preis von XRP zusammen mit dem breiteren Krypto-Markt kämpfte.

Wichtige Erkenntnisse
Ripple in Schlüssel der EU- und UK-Regulierungszulassungen gesperrt, wodurch sich seine regulierte Präsenz in Europa ausdehnt.
Die institutionelle Aktivität nahm mit neuer Brokerage-Unterstützung und großangelegter Tokenisierung von realen Vermögenswerten auf XRPL zu.
Das Angebot und die Liquidität von RLUSD wuchsen weiterhin, mit neuen Prägungen, einem Listing bei Binance und einem geplanten Start in Japan.

Ethereum is flashing a rare disconnect between price and fundamentals, a setup that hasn’t been seen since the depths of the last major bear market.

Key Takeaways
Ethereum usage is at record highs while price remains far below its peak, echoing the 2019 setup.Liquidations have reset leverage, with $2,100 flagged by traders as the key decision level.The gap between fundamentals and price is raising questions about a potential mispricing.
Network usage has surged to all-time highs, while ETH continues to trade roughly 50% below its peak, leaving analysts increasingly focused on whether the market is mispricing the asset.
Ethereum Network Activity Hits Record Highs
On-chain data shows Ethereum’s active addresses interacting with smart contracts climbing to around 3.4 million, a record level and nearly three times higher than the peak seen during the 2021 bull cycle.
This rise in activity comes despite a prolonged price drawdown, pointing to sustained usage across DeFi, infrastructure, and on-chain applications even as market sentiment remains fragile.

A Familiar Pattern From the 2019 Lows
A similar divergence played out in early 2019. At the time, Ethereum was trading near $1,200 and widely dismissed by the market. Yet roughly 1.2 million addresses were actively using the network as developers continued building during the bear market. That period ultimately marked the start of a powerful multi-year rally that carried ETH to nearly $4,800.
Price Weakness Versus Growing Adoption in 2026
The current cycle shows an even sharper contrast. Ethereum’s price has been cut roughly in half from its peak near $6,400, while network participation has expanded far beyond previous highs. Active addresses with contract interactions now sit at about 3.4 million, highlighting how the scale of adoption in 2026 dwarfs the levels seen during the last major accumulation phase.
Liquidations Reset Leverage Across the Market
Recent volatility has triggered heavy deleveraging. More than $312 million in Ethereum positions were liquidated over a short period, with long positions accounting for the majority of the losses. This flush of leverage suggests that speculative excess has been reduced, potentially lowering immediate downside risk if selling pressure begins to ease.
Key Levels Highlighted
Market analyst Daan Crypto Trades pointed out that Ethereum has successfully defended the $2,100 area on a second test, reinforcing it as a must-hold zone for bulls. According to his analysis, this horizontal range is one of the most important areas to watch, as it has repeatedly acted as both support and resistance across multiple market cycles.

He notes that Ethereum’s price structure remains highly level-driven at this stage. A clean break above nearby resistance levels would open the path toward the next upside target, while a loss of the $2.1K region could accelerate downside momentum toward lower support zones. In his view, Ethereum is currently in a binary phase where reactions at these horizontal levels matter more than indicators or narratives, with price direction likely to follow whichever level gives way first.
From a technical standpoint, Ethereum remains under pressure in the near term. RSI has spent time near oversold territory, reflecting stretched selling conditions, while MACD remains negative but shows early signs of stabilizing. The $2,100-$2,150 zone has emerged as a critical support area, with repeated defenses attracting close attention from traders.
Is Ethereum Being Mispriced Again?
The broader question facing the market is whether Ethereum is once again being underestimated. With network activity at record highs and price still lagging well behind prior peaks, the current setup echoes a period when fundamentals quietly improved before price followed. Whether history rhymes again will likely depend on how ETH behaves around key support levels in the weeks ahead.
#ETH

Bitcoin is trading around $73,700 at the time of writing, remaining under pressure as bearish sentiment continues to dominate the market.

Key Takeaways
Bitcoin holds near $73,700 despite heavy bearish sentiment.April low sweep with high volume hints at local capitulation.Long-term outlook for 2026 remains constructive.
Recent sessions have been defined by heightened volatility, weak confidence across risk assets, and lingering macro uncertainty, all of which have weighed on short-term price action. Despite this, several analysts argue that the broader structure still points to a bottoming process rather than the start of a prolonged bear phase.
April Lows Swept as Volume Spikes Signal Potential Capitulation
According to crypto analyst Michaël van de Poppe, Bitcoin recently swept the April lows, triggering a sharp increase in trading volume. Historically, such volume spikes during downside moves often indicate forced selling and local capitulation rather than sustained distribution. Van de Poppe also noted that the US government shutdown ended shortly after the sweep, helping remove a key source of macro-driven risk sentiment.

From a market structure perspective, he expects Bitcoin to consolidate in the current range, potentially forming a higher low. If that scenario plays out, he sees scope for a rebound toward the $82,000–$84,000 area, even as sentiment remains cautious in the near term.
On-Chain Metrics Suggest Downside Risk, but Not a Structural Breakdown
While price action hints at stabilization, on-chain data presents a more complex picture. The Cap Loss Ratio - which compares Bitcoin’s realized capitalization to its market capitalization - has historically marked periods of true capitulation when the entire network falls deeply underwater.
In prior cycles, the metric peaked above 0.5 in 2015, around 0.4 during the 2018–2019 bear market, and near 0.3 in 2022. Each cycle has shown diminishing severity, reflecting a maturing market structure. If that trend holds, final capitulation in the current cycle could emerge closer to the 0.1–0.2 range. At present, the metric has not yet reached those levels, implying that further downside cannot be fully ruled out.
Why the Long-Term Outlook Remains Constructive for 2026
Despite lingering downside risk, history suggests that these transitional phases often coincide with long-term accumulation rather than trend failure. Previous cycles show that the most pessimistic sentiment frequently appears well before the next expansion phase becomes visible in price.
With structural adoption trends intact and macro conditions likely to evolve over the coming quarters, analysts increasingly view the current environment as a late-stage bearish phase. While short-term volatility may persist, the broader setup continues to support an optimistic outlook for Bitcoin into 2026, even as today’s market mood remains uneasy.
#BTC

CoolWallet hat die Unterstützung für Energievermietungsdienste innerhalb des TRON-Blockchain-Ökosystems eingeführt, was den Nutzern eine kosteneffizientere Möglichkeit bietet, Transaktionen durchzuführen, während die volle Selbstverwahrung aufrechterhalten wird.

Wichtige Erkenntnisse
CoolWallet integrierte TRON-Energievermietungen, die Transaktionskosten senken, ohne die Selbstverwahrung aufzugeben.
Benutzer können den TRX-Burn reduzieren und Gebühren entweder mit TRX oder USDT im TRON-Netzwerk bezahlen.
TRX handelt nahe bei $0.28, während der Token nach der jüngsten Marktschwäche konsolidiert.
Die Integration ermöglicht es Inhabern von TRX- und TRC-20-Token, die Transaktionsgebühren direkt über die CoolWallet-Hardware-Wallet, gekoppelt mit der mobilen Anwendung, zu senken, ohne die Kontrolle über die privaten Schlüssel aufzugeben.

Crypto markets remain under heavy pressure as risk appetite deteriorates further, with Bitcoin slipping back below the $74,000 level amid broad-based selling across majors and altcoins.

Key takeaways
Total crypto market capitalization has fallen to around $2.58 trillion, down more than 2% on the dayBitcoin is trading near $74,000 after a sharp daily drop, extending weekly lossesEthereum and major altcoins continue to underperform, reinforcing a risk-off environmentThe Crypto Fear & Greed Index remains stuck in “extreme fear,” while RSI readings signal oversold conditions
The latest market data shows declining capitalization, deeply negative sentiment, and technical indicators flashing oversold conditions, underscoring the fragile state of the market.
Market pressure deepens as Bitcoin tests key support
Bitcoin is currently trading around $74,000 after failing to hold higher levels earlier in the week. On a daily timeframe, the price is down roughly 5% over the past 24 hours and more than 17% over the past seven days, according to the market overview. The sell-off has pushed Bitcoin toward a critical support zone that previously acted as a consolidation area during prior pullbacks.

From a technical perspective, Bitcoin’s Relative Strength Index has dropped to the low 20s on the daily chart, well into oversold territory. At the same time, the MACD remains deeply negative, with widening histogram bars suggesting bearish momentum is still dominant. Volume has picked up during the decline, indicating that selling pressure remains active rather than exhausted.
Ethereum has shown relative weakness, falling below $2,150 and posting losses approaching 7% on the day and nearly 29% on a weekly basis. Altcoins have followed suit, with Solana, XRP, and BNB all recording mid-to-high single-digit daily declines, reinforcing the lack of rotation into higher-risk assets.
Broader market indicators echo the caution. The Altcoin Season Index remains subdued, signaling continued Bitcoin dominance despite its own weakness. Meanwhile, the average crypto RSI sits in oversold territory, hinting that downside momentum may be maturing, but without confirmation of a sustained rebound.
Until sentiment stabilizes and Bitcoin decisively reclaims key technical levels, the market is likely to remain volatile and headline-sensitive. Any near-term bounce may be corrective in nature, with traders watching closely for signs of either capitulation or a shift back toward risk-taking behavior.
Polymarket Odds Signal Growing Regulatory Momentum
The sharp move in Polymarket odds underscores a growing belief that U.S. crypto market structure legislation is gaining real momentum. According to the prediction platform, the probability that Bitcoin and broader crypto market structure rules will be signed into law this year has surged above 70%, reflecting shifting expectations among traders and political observers alike.

This optimism follows a series of regulatory signals, including more constructive rhetoric from lawmakers and regulators, as well as increasing engagement between policymakers, traditional financial institutions, and crypto industry leaders. If passed, comprehensive market structure legislation could clarify jurisdictional boundaries, reduce enforcement-driven uncertainty, and create a clearer path for institutional adoption. While near-term price action remains sensitive to macro and liquidity conditions, the rise in Polymarket odds suggests that regulatory clarity - long seen as a major overhang - may finally be moving closer to reality.
#BTC

Die Bank of America hat Bestände offengelegt, die mit einem XRP-basierten börsengehandelten Produkt verbunden sind, was einen weiteren bemerkenswerten Moment in der schrittweisen Integration digitaler Vermögenswerte in die Mainstream-Finanzwelt markiert.

Wichtige Erkenntnisse
Die Bank of America hat eine indirekte Exposition gegenüber XRP durch Anteile des Volatility Shares XRP ETF offengelegt.
Der XRP-Preis steht unter Druck im Zuge des allgemeinen Marktrückgangs.
Ripple hat eine EU-weite EMI-Lizenz erhalten und seine institutionellen Angebote durch Ripple Prime erweitert.
Regulatorische Einreichungen zeigen, dass die Bank etwa 13.000 Aktien hält, die mit dem Volatility Shares XRP ETF verbunden sind, was ihr indirekte Exposition gegenüber XRP gibt, ohne das Token direkt zu halten.

Binance has stepped in as Bitcoin slid to multi-month lows, completing another major purchase for its SAFU insurance fund during a period of heavy market stress.

Key Takeaways
Binance added $100M in Bitcoin to its SAFU fund during the market dip.Bitcoin slipped below $73K before rebounding to around $76K amid heavy liquidations.Bearish sentiment remains dominant as macro uncertainty continues to pressure markets.
The exchange acquired 1,315 BTC worth roughly $100.4 million, according to data from Arkham Intelligence, bringing its recent accumulation to 2,630 BTC valued at around $201 million.
The move is part of Binance’s broader plan to convert $1 billion of SAFU reserves from stablecoins into Bitcoin, a process the company has been executing in batches. The latest conversion was finalized as bearish sentiment dominated crypto markets and volatility spiked across major assets.
Bitcoin stabilizes after sharp drop
Bitcoin briefly fell below the $73,000 level during the selloff before recovering to around $76,000, as buyers stepped in following the liquidation cascade. Despite the rebound, price action remains fragile, with traders cautious amid persistent macro and geopolitical uncertainty.
Liquidations surged alongside the decline. Over the past 24 hours, total liquidations reached roughly $681 million, with long positions accounting for about $508 million, highlighting how aggressively bullish bets were flushed out during the downturn. Short liquidations stood near $173 million, suggesting bears largely stayed in control.
Bearish sentiment collides with macro uncertainty
Market mood remains defensive as investors weigh broader political and economic developments. In Washington, a deal between Senate Democrats and President Donald Trump ended a short-lived partial US government shutdown. However, funding for the Department of Homeland Security remains unresolved, with lawmakers still divided over reforms related to ICE and the Border Patrol.
At the same time, international tensions continue to simmer. The European Union has signaled interest in strengthening cooperation with Washington on critical rare earth minerals, underscoring how supply chains and strategic resources are becoming increasingly politicized.
Against this backdrop, Binance’s steady accumulation through its SAFU fund stands out as a rare sign of confidence, even as broader crypto sentiment remains tilted to the downside and traders brace for further volatility.
#Binance #bitcoin

Crypto markets remain under pressure, but fresh ETF flow data shows early signs of selective stabilization beneath the surface, even as broader sentiment stays firmly risk-off.

Key Takeaways
Bitcoin spot ETFs recorded net outflows on February 3, extending January’s distribution phaseEthereum ETFs showed marginal net inflows, hinting at tentative stabilizationSolana ETFs continued to attract modest but consistent inflows despite broader market weaknessXRP spot ETFs posted a notable net inflow, standing out against sector-wide caution
According to Data from Farside Investors and Coinglass - Bitcoin, Ethereum, and Solana spot ETFs recorded mixed flows at the start of February, reflecting cautious positioning rather than outright capitulation. While overall crypto market capitalization remains subdued and volatility elevated, institutional behavior appears increasingly differentiated across assets.
ETF Flows Show Diverging Institutional Behavior
Bitcoin spot ETFs saw a net outflow of approximately $272 million on February 3, following a brief positive session on February 2. January was dominated by heavy redemptions, with several days exceeding $700 million in net outflows, led primarily by IBIT, FBTC, and ARKB. Although February opened with a short-lived rebound, the latest data suggests institutions remain defensive toward Bitcoin amid elevated macro uncertainty and weak momentum signals.
Ethereum ETFs painted a more balanced picture. On February 3, Ethereum products recorded a net inflow of roughly $14 million, driven by modest allocations into BlackRock’s ETHA and Grayscale’s ETHE. While January flows were predominantly negative, recent stabilization indicates that downside pressure may be easing. However, flows remain far below January’s peak activity, signaling hesitation rather than renewed conviction.
Solana ETFs continued to quietly outperform on a relative basis. February 3 flows were slightly positive, extending a pattern of small but persistent inflows throughout late January. While total volumes remain modest compared to Bitcoin and Ethereum, the consistency suggests growing institutional comfort with Solana exposure, especially in products offering staking yield.
XRP stood out as the strongest performer in ETF flows. On February 3, XRP spot ETFs recorded a net inflow of $19.46 million, led by Franklin’s XRP ETF and Bitwise’s XRP product. This marked one of the clearest signs of institutional accumulation across the digital asset ETF landscape, contrasting sharply with Bitcoin’s ongoing outflows.
Market Context and Technical Backdrop
Despite selective ETF inflows, broader crypto conditions remain fragile. The Fear & Greed Index is deep in “extreme fear,” while average crypto RSI levels hover near oversold territory. Bitcoin continues to trade below key medium-term resistance levels, and momentum indicators remain weak, reinforcing a cautious near-term outlook.
Source: alternative.me
ETF flow divergence suggests institutions are no longer treating crypto as a single risk bucket. Instead, capital is rotating selectively toward assets perceived as having clearer regulatory positioning, yield advantages, or asymmetric upside, while exposure to Bitcoin remains tactical and defensive.
What to Watch Next
Sustained inflows into Ethereum, Solana, or XRP ETFs would strengthen the case for a broader stabilization phase, even if Bitcoin remains range-bound. Conversely, renewed heavy redemptions from Bitcoin ETFs could reintroduce downside pressure across the market.
For now, ETF data signals caution, not panic - with early signs that institutional capital is becoming more selective rather than exiting crypto altogether.
#ETFs

Crypto markets remain under pressure as risk appetite stays muted, with sentiment indicators flashing persistent caution across digital assets.

Key takeaways
Crypto Fear & Greed Index remains deep in extreme fear territoryBitcoin trades near $76,000 after a sharp multi-week pullbackMomentum indicators show oversold conditions but limited bullish confirmationAltcoins continue to underperform amid fragile market confidence
Total crypto market capitalization has slipped to around $2.58 trillion, down roughly 2% on the day.
Bitcoin Holds Key Support as Selling Pressure Eases
Bitcoin is currently trading around $76,300, attempting to stabilize after an extended decline from recent highs above $100,000. Despite a modest intraday rebound, the broader trend remains weak, with Bitcoin still down more than 14% over the past seven days. Trading volume remains elevated, suggesting active positioning rather than a decisive trend reversal.

From a technical perspective, Bitcoin’s Relative Strength Index (RSI) is hovering near 35, signaling oversold conditions but not yet showing a strong bullish divergence. Meanwhile, the MACD remains firmly in negative territory, indicating that downside momentum has yet to fully dissipate. Price action also remains below key short-term moving averages, keeping the near-term bias tilted to the downside.
Altcoins have largely followed Bitcoin’s lead. Ethereum is trading near $2,280, still underperforming on a weekly basis with losses approaching 24%, while Solana, BNB, and XRP continue to post mid-to-high single-digit declines. The Altcoin Season Index, currently near 34, highlights Bitcoin’s relative strength versus altcoins despite its own weakness.
Sentiment and Technicals Point to Fragile Stabilization
Market sentiment remains a key headwind. The Crypto Fear & Greed Index sits at 14, firmly in “extreme fear,” reflecting heightened uncertainty and defensive positioning among investors. At the same time, the average crypto RSI has moved closer to oversold levels, suggesting selling pressure may be moderating, though confirmation remains limited.
Historically, extreme fear conditions have often coincided with periods of consolidation or short-term relief rallies. However, without a clear catalyst or improvement in macro conditions, such rebounds have struggled to gain sustained traction.
What to Expect Next
In the near term, crypto markets are likely to remain volatile, with price action driven by sentiment shifts and broader macro developments rather than strong internal momentum. If Bitcoin can hold above the $75,000–$76,000 zone, a short-term stabilization or technical bounce is possible, especially given oversold indicators.
However, a failure to defend current levels could open the door to further downside, particularly if risk-off conditions persist across global markets. Until momentum indicators turn decisively higher and sentiment improves, traders should expect choppy price action, sharp intraday swings, and limited follow-through on rallies.
#bitcoin

Michael Burry hat eine neue Warnung zu Bitcoin ausgesprochen und argumentiert, dass der aktuelle Rückgang sich zu einem sich selbst verstärkenden Zusammenbruch entwickeln könnte, anstatt eine routinemäßige Korrektur zu sein.

Wichtige Erkenntnisse:
Michael Burry warnt, dass der Verkaufsdruck auf Bitcoin sich in eine sich selbst verstärkende Spirale beschleunigen könnte, während fallende Preise die Unternehmensbilanzen belasten und Verkäufe erzwingen.
Er argumentiert, dass Bitcoin nicht als makroökonomische Absicherung fungiert hat, während ETFs und die Unternehmensakzeptanz die Spekulation verstärken könnten, anstatt dauerhafte Unterstützung zu bieten.
Übergreifende Risiken treten auf, da bereits durch Krypto ausgelöste Liquidationen tokenisierten Gold und Silber getroffen haben, obwohl die breitere finanzielle Ansteckung begrenzt bleibt.