blockinsider

[blockinsider]

Bitcoin’s $74k Retest Looms: Unraveling the Worst Crypto Week of 2025

Key Points

Bitcoin’s value has plummeted to around $80,000, marking one of the worst weeks in the crypto market’s history.

Multiple factors are contributing to the bearish trend, including ETFs selling off Bitcoin and Ethereum.

The cryptocurrency market is experiencing significant turbulence as bearish trends intensify. Bitcoin’s value has fallen to approximately $80,000, with a 24-hour low of $78,197.

Several fundamental shifts are fuelling the bearish trend, resulting in one of the most challenging weeks for the market. The question remains: will Bitcoin bounce back?

Market Losses and Contributing Factors

In the past five days, the crypto market has lost 16% of its value. The total crypto market cap has decreased from $3.14 trillion to $2.63 trillion. Concurrently, Bitcoin’s market value has fallen from $96,264 to around $80,638.

Crypto analyst Darkfrost attributes several factors to the bearish turn of Bitcoin and the crypto market. ETFs are selling off Bitcoin and Ethereum as arbitrage strategies become less appealing. Additionally, bond yields now offer better returns with lower risk. Bitcoin ETFs have recorded consecutive outflows in the past eight days, amounting to $3.27 billion.

Amid the offloading, BlackRock has shifted its strategies to offload Bitcoin, once a significant purchaser in the market. The analyst also highlights recent accusations against Bitcoin and other centralized exchanges transferring assets to market makers like Wintermute.

Macroeconomic Influences and Market Sentiments

On the macroeconomic front, the analyst points out the impact of Donald Trump’s latest policies on trade wars, which have resulted in increased tariffs on multiple countries. This has led to growing uncertainty and negative sentiment towards risky assets like stocks and cryptocurrencies.

Despite the uncertainty, crypto enthusiasts maintain an optimistic outlook. Changpeng Zhao, the ex-CEO of Binance, recently retweeted Miles Deutscher’s tweets about Bitcoin price cycles. Deutscher, a crypto analyst, highlighted a decorrelation in Bitcoin price after halving, suggesting that the recent dip could be a decorrelation compared to previous cycles.

Crypto analyst Ali Martinez has highlighted social sentiment data from Sentiment as a potential recovery signal for the crypto market. According to Martinez, social sentiment towards Bitcoin has shifted significantly. Based on past trends, movements like this have often presented strong opportunities for contrarian traders. Currently, the weighted sentiment of total Bitcoin is down at -1.126%.

Potential Correction and Recovery

Martinez has also pointed out a potential 40% correction in Bitcoin. Based on his analysis, every negative crossover in the MACD indicator on the weekly timeframe has led to significant corrections. These corrections have resulted in pullbacks ranging from 16% to 63%, with an average correction of 40%. The current crossover has already led to a 16% pullback and could trigger a steeper correction.

However, the analyst also highlights a possible bullish recovery in Bitcoin. This comes from the 50-week moving average line that is currently standing at $74,700. Historically, this crucial dynamic average line has provided a bounce back in Bitcoin before witnessing a further decline towards the 200-week MA line.

[blockinsider]

Bitcoin Value Rises 4%: CryptoQuant CEO Quashes Concerns of $70K Plunge

Key Points

Bitcoin’s recent price correction to under $83,000 was followed by a bounce back of more than 4%.

CryptoQuant CEO, Ki Young Ju, dismisses fears of a further drop to $70,000.

After a recent dip to under $83,000, Bitcoin’s price has rebounded more than 4%, once again trading above $86,000. This correction sent shockwaves through the cryptocurrency market, with some analysts predicting a further drop to $70,000. However, Ki Young Ju, CEO of CryptoQuant, believes that a drop to under $77,000 is unlikely.

According to Ju, on-chain indicators are currently wavering at the bull-bear boundary. He expressed cautious optimism in a recent post on the X platform, stating, “I expect this to be the longest bull run in history, but I could be wrong. We need at least another month of data to confirm whether we’re entering a bear market.”

Market Direction and Potential Downtrend

Ju further explained that if demand doesn’t recover, these indicators could fully signal a downtrend. He believes that Bitcoin’s bull market should follow its typical two-year cycle, lasting until April 2025. The next two months, he noted, will be a pivotal period to determine the market direction.

Even in the worst-case scenario, Ju predicts that Bitcoin would likely consolidate around $77,000 before regaining upward momentum. He also advised against heavy leveraged trading in the current uncertain environment, stating, “I don’t think going heavy on leveraged directional bets — long or short — is a good move right now.”

Bitcoin Price: Oversold or Opportunity?

Over the past week, Bitcoin’s price has faced strong selling pressure, plunging to $83,000 following President Donald Trump’s announcement of 25% tariffs on Europe. This sent shockwaves across the global equity and cryptocurrency markets, triggering hundreds of millions of dollars in liquidations.

Crypto analyst Ali Martinez stated that for the first time since August 2024, Bitcoin has entered oversold conditions. A similar situation six months ago triggered a 33% Bitcoin price rally. If Bitcoin mirrors the market dynamics of the 2015-2018 cycle, as Martinez suggests, there may be substantial room for growth.

Other market analysts share a similar outlook. Michael van de Poppe, a prominent crypto analyst, has identified Bitcoin’s price reaching an optimal buying zone. He believes that reclaiming the $88K-$89K range could signal a strong recovery, potentially setting up a bullish trajectory for March.

[blockinsider]

Bitcoin ETF from BlackRock Faces Unprecedented Withdrawals Amid Market Slump

Key Points

BlackRock’s Bitcoin ETF IBIT is experiencing record outflows due to current market volatility.

Other funds and Ethereum ETFs are also seeing significant withdrawals.

BlackRock’s Bitcoin ETF fund, known as IBIT, is witnessing a rapid departure of investors. This is due to the ongoing market instability.

SoSoValue data reveals that IBIT logged over $418.1 million in net outflows on Wednesday. This marks the fund’s largest single-day withdrawal since its inception in January 2024.

Decline in Bitcoin ETFs

The withdrawals are occurring as Bitcoin has been consistently decreasing over the past week. The cryptocurrency has dropped by over 15% this month and is currently trading 21% below its all-time high of $109,026.02.

The previous record for IBIT’s daily withdrawal stood at $332.6 million, which occurred in early January, just before Bitcoin experienced a significant increase.

Despite the current net outflows, IBIT remains the largest of all United States spot Bitcoin ETFs. It has a total of $40.2 billion in net inflows and assets under management amounting to $51.6 billion.

The fund also leads in trading volume, making up 72% of all Bitcoin ETF activities this week. Out of the total $5.7 billion traded in these funds, IBIT handled $4.1 billion alone.

Market-Wide Decline

However, IBIT is not the only fund experiencing this downturn. The entire spot Bitcoin ETF market in the United States has seen numerous withdrawals, with investors retreating from their investments at a discouraging pace.

On February 26 alone, a total of $754.6 million was withdrawn from these funds, marking the second-largest single-day outflow in their history. Over the past week, the total outflows reached nearly $3 billion.

Several other funds experienced significant outflows, including Fidelity’s FBTC, ARK Invest’s ARKB, and Grayscale’s Mini BTC fund.

Ethereum exchange-traded funds are also feeling the impact. BlackRock’s ETHA product recorded $69.8 million in withdrawals on Wednesday, leading a five-day outflow streak that now totals $244.4 million for all spot Ethereum funds combined.

The increasing withdrawals coincide with a volatile economy, leading analysts to believe that concerns over President Trump’s tariff plans are adding more pressure to an already unstable market.

This decline is not confined to Bitcoin alone. Many other altcoins are also experiencing this crypto market instability. According to The Block’s GMCI 30 index, which tracks the top 30 digital assets, there has been a 12% drop already this week.

At the time of writing, there is little indication of an immediate recovery. Some market observers are predicting that Bitcoin is likely to continue facing selling pressure before stabilizing.

[blockinsider]

Metaplanet Puts $13.6M Bond Issue Towards Bitcoin Investment

Key Points

Metaplanet Inc. has issued $13.6 million in ordinary bonds to fund further Bitcoin purchases.

The company’s stock price fell nearly 20% following the announcement, reflecting the broader downturn in the crypto market.

Metaplanet Inc., a Japanese financial services firm listed on the Tokyo Stock Exchange, is advancing its Bitcoin purchase strategy. The company recently issued its 7th Series of Ordinary Bonds, aiming to use the funds raised from these bonds to buy more Bitcoin. The bonds total 2 billion JPY, approximately worth $13.6 million.

About the Bond Issuance

Details about the bond issuance were shared by Metaplanet in a regulatory document dated February 27. According to the filing, the bonds are the company’s 7th Series of Ordinary Bonds to EVO FUND. These bonds carry no interest and will be redeemable at face value on August 26.

Bondholders may request early redemption of all or part of the outstanding Bond at JPY 100 per JPY 100 of face value. This is conditional on providing written notice to the company at least one business day before the desired early redemption date.

The funds required to redeem the bonds will come from the 13th to 17th Series of Stock Acquisition Rights proceeds. Metaplanet expects to exercise this right, per the filing. The company may redeem a corresponding portion of the bonds earlier than the redemption date if the funds from these exercises reach a multiple of 50 million JPY.

Both Metaplanet and the bondholders can mutually agree upon an early redemption date. The bond will not bear collateral or guarantee, and the entire issuance will be allocated to the EVO FUND.

Despite the recent news, Metaplanet’s shares have not responded positively. The stock price dropped nearly 20% from the previous day to trade at 4,010 JPY. This decline corresponds with the recent downturn in the crypto market.

Crypto Market Update

Bitcoin, the flagship cryptocurrency, has fallen 2.06% in the last 24 hours to trade at $86,488. Leading altcoins, including Ethereum, XRP, and Binance Coin, have also seen significant declines, plummeting 4.43%, 2.19%, and 2.53%, respectively.

Metaplanet’s Commitment to Bitcoin

Metaplanet’s share bond issuance comes just two days after the firm added 135 BTC to its treasury. This Bitcoin purchase strengthens its position as one of Japan’s most active corporate Bitcoin investors.

The Japanese firm is following in the footsteps of Strategy, formerly MicroStrategy, which owns the biggest corporate Bitcoin treasury. Strategy, under the leadership of Michael Saylor, also raises funds through Convertible Senior Notes to buy more Bitcoin.

Metaplanet has continued to grow its holdings since launching its Bitcoin Treasury Operations in April 2024. The company has hit 10% of its 2026 target, holding approximately 2,100 BTC in its reserve.

The company’s BTC Yield, which measures the amount of Bitcoin held per share, grew by 309.8% in Q4 2024. The yield, however, slowed to 23.2% in early 2025 as Metaplanet increased the number of its shares. Despite this, the firm’s decision to continually purchase Bitcoin demonstrates its commitment to the coin’s future.

[blockinsider]

Bitcoin Update: $775M Wiped Out in a Day, Renowned Trader’s $25M Stake Teetering on the Edge

Key Points

Billions of dollars in assets are being liquidated in the crypto market, causing significant losses for traders.

A prominent trader is facing an unrealized loss of $17.5 million due to leveraged positions in multiple altcoins.

The cryptocurrency market is experiencing major upheaval as assets worth billions of dollars are liquidated. This has resulted in substantial losses for traders. One notable trader is currently grappling with an unrealized loss of $17.5 million due to leveraged positions in several altcoin tokens.

Data from Lookonchain reveals that this trader has significant exposure to Bitcoin (BTC), Solana, Hyperliquid, Ondo Finance, Hedera, Sui, and Official Trump. All these cryptocurrencies have seen sharp declines in recent days.

The Downward Spiral of the Market

As the market plummets, the trader has lost $17.5M from long positions in Bitcoin, Solana, Hyperliquid, Ondo Finance, Hedera, Sui, and Official Trump. If Bitcoin falls to $74,571, the trader will be liquidated.

According to data from Coinglass, more than $775.59 million was liquidated in the past 24 hours. This includes $596.22 million in longs and $179.41 million in shorts. An astonishing 188,698 traders were liquidated in the past day.

The Risk of Leveraged Positions

The trader took a $23.69 million position on Bitcoin at an entry price of $102,079.2 with 10x leverage, making it highly susceptible to downward price movements. With Bitcoin’s current price well below the entry level, the losses continue to pile up. The trader also placed a $6.15 million leveraged position in Solana at an entry price of $235.18 with 20x leverage. At the time of writing, SOL trades at $140.

The situation is worsening as Bitcoin’s price nears a critical liquidation threshold. If BTC falls to $74,571, the trader will be forcibly liquidated, resulting in total losses of approximately $25 million. The margin usage is already at 80.92%, indicating extreme risk in case of further declines.

Analysis of the Altcoin Market Cap

The altcoin market, excluding Bitcoin and Ethereum, has also seen significant setbacks. The altcoin market capitalization is currently around $816 billion, while the 20-day Exponential Moving Average (EMA) stands at $876 billion. This data suggests that altcoins are trading below the short-term trend line, indicating persistent bearish pressure.

The altcoin market cap is trading near the lower Bollinger Band, suggesting that the market is bearish. A bounce could be expected if bullish momentum picks up and a retest of resistance levels at $879 billion and $950 billion occurs. However, a failure to hold support at $808 billion could lead to a further decline.

On the other hand, the Relative Strength Index (RSI) is at 35.03, which is close to oversold territory (below 30). While the RSI levels suggest a possible reversal in the near term, weak buying pressure may keep prices subdued. The gradient of the line indicates a slight surge in buyers’ demand as market conditions remain uncertain.

[blockinsider]

Bitcoin Whales’ Panic Move Triggers 12.5% Drop in Crypto Market, 6,813 BTC Sold Off

Key Points

The cryptocurrency market experienced a 12.5% drop, with Bitcoin whales selling 6,813 BTC in a panic move.

Despite the market drop and Bitcoin’s price decrease, some analysts see this as a normal part of a Bitcoin bull cycle.

In the initial days of the week, the entire cryptocurrency market saw a steep fall of around 12.5%, decreasing from $3.14 trillion to $2.75 trillion.

During this downturn, the price of Bitcoin fell from $96,000 to $84,000, a 13% drop.

Market Recovery

Currently, the total crypto market cap is experiencing a short-term intraday recovery of 2.72%, returning to $2.83 trillion.

Amid this recovery, Bitcoin has rebounded to $86,833, marking an intraday recovery of 3.29%. This short-term recovery has raised questions about whether the crypto market crash has bottomed out, or if a steeper correction is looming.

Analysts’ Views

Ki Young Ju, the founder and CEO of Cryptocoin, believes that the short-term pullback in the crypto market is perfectly normal.

According to his recent tweet, a 30% correction in a Bitcoin bull cycle is common based on historical bull performances.

In the 2021 bull market, before reaching a new all-time high, the Bitcoin price dropped nearly 53% in value. Hence, the historical data suggests extreme volatility but also paints an optimistic future.

According to the analyst, buying when prices rise and selling when they fall is the worst investment strategy. He also highlighted his previous tweet predicting a 30% potential dip from the all-time high.

Further Corrections Possible

Crypto analyst Ali Martinez has highlighted the potential reversal chances in Bitcoin.

Since 2022, buying opportunities have occurred when traders realized a loss margin of -12%. Currently, it stands at -8.25%, which indicates more room for a pullback before a bullish turnaround.

Whale Behavior Influences Market

According to a recent tweet by Santiment, more than 10 Bitcoin wallets have collectively dumped 6,813 BTC in the past week. This correlates with the recent price fall of nearly 20%.

Over the long term, the Bitcoin price is influenced by the behavior of whales and sharks, particularly wallets that contain more than 10 Bitcoin.

Due to this massive sell-off by key stakeholders, Bitcoin is likely to experience a steeper correction ahead. As per Santiment, this is the largest drop from whales and sharks collectively since last July.

Increased optimism in the crypto market for a bullish comeback by retail traders has generally led to a prolonged correction. This is based on a recent Santiment post, which highlights the social media mentions of buy vs. sell calls.

Bitcoin’s Future

As per the daily chart, the BTC price trend reveals a breakdown of a local support trendline. This has breached the S1 pivot support level at $91,265.

Currently, the lower price rejection in the previous intraday candle has driven a short-term recovery to $86,000 levels. The fresh green candle, after four consecutive bearish candles, forms a potential bullish-harami pattern.

However, if the BTC price closes under the $84,000 mark, the downtrend is expected to continue to the S2 support level at $80,000. On the bullish front, the immediate resistance for Bitcoin remains the $90,000 psychological resistance, followed by the S1 support-turned-resistance level at $91,265.

Therefore, based on recent posts by Santiment and a few analysts, the short-term recovery in Bitcoin comes as a short relief and could witness a steeper correction. Based on price analysis, this puts the short-term price target for Bitcoin at $80,000.

[blockinsider]

Fold Holdings Climbs into Top 15 US Bitcoin Holders Following Recent Acquisition on Nasdaq

Key Points

Fold Holdings has increased its Bitcoin treasury by purchasing 10 more Bitcoins.

The company now ranks among the top 15 corporate Bitcoin holders in the US.

Financial services company Fold Holdings, which primarily focuses on Bitcoin, has expanded its Bitcoin treasury with additional acquisitions.

On February 26, the company purchased an additional 10 Bitcoins at an average price of $87,500, inclusive of transaction fees and other expenses.

Public Trading and Bitcoin Accumulation

This decision to increase Bitcoin reserves followed the company’s recent commencement of public trading on Nasdaq under the ticker “FLD”. This move provides investors with exposure to the company’s vision of a Bitcoin-centric financial future.

The company’s Bitcoin accumulation aligns with the growing trend of corporations integrating the asset into their balance sheets. Since its launch in 2019, Fold has been steadily purchasing Bitcoin.

With this recent acquisition, Fold now ranks among the top 15 corporate Bitcoin holders in the US. This aligns with the company’s mission to promote Bitcoin as the foundation of a modern financial system.

The company is consistently seeking opportunities to increase its Bitcoin holdings as part of its long-term commitment to integrating the cryptocurrency into its reserve.

Fold’s CEO, Will Reeves, stated that the company remains dedicated to integrating Bitcoin into its business and treasury strategy. He added that they believe in the long-term potential of Bitcoin and plan to continue accumulating it.

Merger and Public Listing

Fold’s entry into Nasdaq was facilitated through a merger with FTAC Emerald Acquisition Corp. (FTAC), a publicly-traded Special Purpose Acquisition Company (SPAC). This move has made Fold the latest crypto-native firm to go public on the American stock exchange, joining a growing list of industry leaders.

Notable companies already trading on Nasdaq include Coinbase, Strategy (formerly MicroStrategy), Marathon Digital, CleanSpark, Cipher Mining, Bit Digital, Bitfarms, Hut 8, Riot Platforms, and Iren. These companies have played a key role in integrating digital assets with the traditional finance ecosystem.

One significant milestone in this space occurred in December 2024, when Strategy was added to the Nasdaq 100 Index. This recognition has placed the company on par with technology giants like Apple, Microsoft, Amazon, and Google (Alphabet).

[blockinsider]

Critical Support Break Could Plunge Ethereum Price to $1K

Key Points

Ethereum’s price is under severe selling pressure, trading just above the crucial support level of $2,400.

Market analyst Justin Bennet predicts that Ethereum could crash to $1,000 if it fails to hold this support.

Ethereum’s price has been experiencing a significant decline, with a nearly 20% drop over the past month. Currently, it is trading just above a critical support level of $2,400.

Crypto market analyst Justin Bennet has predicted that if Ethereum does not maintain this support, its price could plummet to $1,000.

Ethereum’s Price Movement

Bennett has presented a chart tracking Ethereum’s price action within a long-term logarithmic channel dating back to 2017. It shows that Ethereum is currently testing the lower boundary of this channel, which has contained its price movements since mid-2022.

Despite reaching a high of $2,855.23 during the recent two-week trading period, Ethereum has failed to maintain momentum above the crucial $2,800 level. This indicates that the cryptocurrency is at a critical support zone.

Bennett has pointed out that Ethereum’s price action lacks upward momentum, suggesting that if it fails to hold this support, a correction to $1,000 could be imminent.

Ethereum ETF Outflows

In addition, Ethereum ETF outflows have surged, with US ETFs recording four consecutive days of outflows. In the first two days of this week alone, more than $128 million have flowed out of Ethereum ETFs. This suggests that institutional interest in Ethereum is declining amidst its recent underperformance.

Despite the selling pressure and major headwinds, some crypto market analysts remain optimistic about Ethereum’s price recovery. For instance, Crypto analyst Wolf has noted that Ethereum has returned to the lower end of its 13-month re-accumulation range.

Wolf predicts that Ethereum could revisit the $4,000 mark in the second quarter of the year, which could signal the start of a new bull market for the asset.

Crypto analyst Ted Pillows has highlighted a significant development in Ethereum’s evolution, pointing to the SEC’s acknowledgment of Grayscale’s proposal to incorporate staking into its spot Ethereum ETF. He believes that institutional money could flow into the ecosystem “like crazy” once the integration is approved.

[blockinsider]

Block Inc Negotiating Compliance Issues with Regulators

Key Points

Block Inc is negotiating with the New York State Department of Financial Services (NYDFS) over Bitcoin and anti-money laundering compliance violations.

The company is also involved in a tax dispute with San Francisco authorities over unpaid Bitcoin profit taxes from 2020 to 2022.

Block Inc, an American financial services and technology firm, is in the process of settling a case with New York’s primary regulatory agency. The company is reportedly in discussions with the NYDFS to resolve its Bitcoin and anti-money laundering compliance issues.

Protracted Legal Battle

This issue has been ongoing for several years, with the litigation reportedly starting between 2021 and 2023 when the SEC filed a case against Block over compliance problems.

Earlier this year, the US market leader in point-of-sale systems paid $80 million to settle cases with various state regulators. At that time, Block also disclosed that it had hired an independent consultant to help revamp its anti-money laundering policies.

However, the NYDFS was not part of the $80 million settlement deal. The firm and the agency had discussed different settlement terms in January. In its most recent SEC filing, Block stated it is still negotiating to reach an agreement. While the company has set aside funds for this, it stated that the amount is not significant to its finances.

Despite these ongoing discussions, Block has not admitted to violating any laws. The company has not disclosed any details about the settlement terms. The filing also warns that ongoing regulatory scrutiny could still impact its business. At the time of writing, Block’s stock had risen 2.10% in the pre-market, trading at $64.16.

Tax Dispute with San Francisco Authorities

In addition to this, Block is also engaged in a tax dispute in San Francisco. The state security agency alleges that the firm has not paid additional taxes on its Bitcoin profits from 2020 to 2022.

The fintech giant, however, strongly disagrees. The company has revealed that it has already paid $71.4 million to contest the claim and is seeking a refund.

Investigations into the company’s business practices by the SEC and the Department of Justice are still ongoing. In its filing, Block admitted that it is unable to predict the outcome of these inquiries.

As part of its strategic changes, the company plans to focus on Bitcoin mining and reduce efforts on its other projects. Block is scaling down its music streaming service, TIDAL, and closing its decentralized web project, TBD.

A shareholder letter confirmed this shift, stating, “We are prioritizing Bitcoin innovation.” This move is part of a broader effort to strengthen its position in the industry.

Earlier this month, MARA Holdings, a publicly traded cryptocurrency company, also announced its focus on Bitcoin mining. The company announced the completion of its acquisition of a wind farm in Hansford County, Texas.

[blockinsider]

Binance CEO: Crypto Market’s Decline is a Strategic Break, Not a Meltdown

Key Points

The crypto market’s dip is a tactical pause, not a collapse, according to Binance CEO Richard Teng.

Despite the dip, institutional interest in crypto remains strong, with continued inflows into ETFs and consistent new user registrations on Binance.

The cryptocurrency market recently experienced a sharp decline, with Bitcoin’s value dropping below $90,000 for the first time since November 2024. As of February 25, 2025, Bitcoin was trading around $87,730, reflecting a steep 6.90% drop within 24 hours. This caused concern among investors, but Binance CEO Richard Teng dismissed fears of a prolonged downturn.

Teng shared his thoughts on the recent market turbulence on Twitter, suggesting that this should be viewed as a tactical retreat rather than a reversal. He highlighted that the crypto market has been in similar situations before and has always bounced back stronger.

Historical Data and Crypto Market Behavior

According to Teng, historical data shows that the crypto markets respond to macroeconomic shifts in a manner similar to traditional financial assets. However, digital assets have consistently rebounded from sharp corrections. He referenced the 2022 crash when Bitcoin briefly dropped below $20,000 following Federal Reserve interest rate hikes, but then recovered as conditions stabilized.

Teng noted that the recent market dip is in line with past short-term fluctuations and does not expose any fundamental weaknesses in the sector. Despite price volatility often dominating the headlines, the real growth drivers of the crypto market remain strong. Crypto has matured as an asset class and has repeatedly recovered from macroeconomic-driven downturns.

Factors Contributing to the Market Dip

Several factors have contributed to the recent decline, including global economic uncertainty. A $1.5 billion hack on the Bybit exchange has shaken investor confidence, further destabilizing the market. Concerns about US tariffs and rising inflation have also prompted a shift away from riskier assets, including cryptocurrencies.

Teng attributed the decline to broader macroeconomic forces, particularly the Federal Reserve’s approach to interest rate adjustments. He emphasized the temporary nature of the Fed’s pause and attributed the latest drop to its cautious stance on rate cuts.

According to Teng, if inflation eases or labor market conditions weaken, the Fed may revise its policy stance, which could reignite market momentum. He argued that the current downturn is more of a recalibration than a sign of prolonged weakness.

Institutional Interest in Crypto Remains Robust

Despite the dip, institutional interest in crypto remains strong. Teng highlighted continued inflows into exchange-traded funds (ETFs) and steady submissions of new applications. Additionally, Binance has observed a consistent influx of new users, reinforcing the ongoing adoption of digital assets.

Teng noted that market corrections, while unsettling, often create opportunities for seasoned investors. He suggested that those who maintain a long-term perspective rather than reacting to short-term fluctuations are better positioned to capitalize on future gains.

Teng encouraged investors to focus on the long-term fundamentals of the industry rather than getting caught up in short-term volatility. This resilience has been evident in previous downturns, proving that crypto can withstand macroeconomic pressures.

[blockinsider]

Critical Finalization Challenges Arise as Ethereum Pectra Upgrade Reaches Holesky Testnet

Key Points

The Ethereum Pectra upgrade experienced complications on the Holesky testnet.

Investor behaviour shifts as Ethereum’s exchange supply hits record lows.

The Pectra upgrade, eagerly awaited by many, was launched on the Holesky testnet of Ethereum on February 25.

This upgrade was designed to enhance scalability, security, and usability by testing new features in real-world conditions before the mainnet deployment. Nevertheless, the launch was not without its problems.

Upgrade Complications

Following the activation, the network slots remained unfinalized, hindering the finalization of transactions.

Even though blockchain data confirmed the activation of Pectra, it also showed a failure in the finalization process. Developers were swift to investigate the cause of this disruption.

Security expert Raul Riesco detected a critical error. He stated that developers did not specify the correct smart contract address for Pectra Request Hash Calculations, resulting in post-launch disruption and finalization delays.

Next Steps and Past Challenges

The next step involves deploying Pectra on the Sepolia testnet, originally planned for March 5.

However, if the issues with the Holesky network persist, developers might need additional time for bug fixes and stability enhancements. Any ongoing problems on Holesky could lead to a change in Sepolia’s schedule.

If both testnets operate without issues, the mainnet activation could occur as early as April. Developers are monitoring the testnet performance closely to ensure a smooth transition when Pectra is finally implemented on the live blockchain.

This is not the first time an Ethereum test upgrade has faced difficulties. In January 2024, the Dencun upgrade encountered a similar issue when it failed to finalize on the Goerli testnet. The current situation with Pectra adds to the history of testnet challenges that Ethereum developers must navigate before full deployment.

Ethereum’s Exchange Supply Hits Record Lows

Aside from the upgrade, Ethereum’s exchange supply is reaching all-time lows, indicating a change in investor behaviour.

Currently, only 6.38% of Ethereum’s total supply is held on centralized exchanges—the lowest level since Ethereum’s inception, according to Santiment.

Despite some investors’ caution, Ethereum’s transaction fees have plummeted to levels unseen since late August. The average transfer fee is now just $0.41, a significant drop from the $15.21 high recorded in the past two years.

Lower transaction fees suggest less network congestion, implying that fewer users are competing for block space. Historically, such conditions have been associated with periods of network stability, often setting the stage for long-term growth.

[blockinsider]

New US Senate Bill Targets Crypto ATM Fraud with $10,000 Penalty

Key Points

US Senator Dick Durbin introduces a bill to regulate cryptocurrency ATMs and prevent scams.

Consumer losses related to Bitcoin ATM scams have surged to $114 million since 2020, according to the FTC.

US Senator Dick Durbin introduced a bill on February 25, with the aim of combating scams associated with cryptocurrency ATMs. The proposed legislation, known as the Crypto ATM Fraud Prevention Act, puts forward stringent regulations for these machines, which have become tools for fraudsters exploiting innocent victims.

The bill proposes daily and fortnightly purchase limits at Bitcoin ATMs for new users. Transactions exceeding $500 would necessitate direct communication between the user and the company. If a user reports fraud and notifies the operator within 30 days, the company would be required to issue a full refund.

The Rising Issue of Bitcoin ATM Scams

Senator Durbin asserts that action is necessary as scammers are becoming more sophisticated with their use of technology. He revealed that criminals, particularly those targeting the elderly, are deceiving them into investing their money into these ATMs under false pretenses. He believes that this bill would help curb the effectiveness of such scams.

Data from the Federal Trade Commission (FTC) shows that consumer losses linked to Bitcoin ATM scams have alarmingly increased. Since 2020, financial losses from such scams have multiplied almost tenfold, reaching a staggering $114 million in 2023.

The rise in cryptocurrency popularity, particularly as the value of Bitcoin (BTC) nears $100,000, has led to a significant increase in scams. According to Chainalysis, a crypto market research firm, scam activity has been growing by approximately 2% annually.

Regulations and Reactions

The proposed legislation comes as consumer advocacy groups are increasingly calling for federal regulation of the industry. Several states, including Minnesota, California, and Vermont, have already enforced daily transaction limits on Bitcoin ATMs. The proposed measure stipulates that state laws would take precedence as long as they maintain or exceed federal standards.

The bill has garnered support from several financial reform groups, including Americans for Financial Reform. Mark Hays, the group’s associate director for cryptocurrency and financial technology, described the legislation as a “good first step” towards managing fraud in the industry.

If the bill is passed, the Treasury Department would have the authority to fine Bitcoin ATM operators $10,000 per day for each violation.

[blockinsider]

Be Alert: Pennsylvania AG Flags Advanced Bitcoin ATM Fraud

Key Points

Pennsylvania’s Attorney General Dave Sunday warns residents about sophisticated Bitcoin ATM scams.

Scammers are using personal information to trick consumers into large cash withdrawals.

Attorney General Dave Sunday has alerted Pennsylvanians about Bitcoin ATM scams. These scams involve criminals using personal information to target consumers.

Understanding Bitcoin ATM Scams

Scams often begin with a phone call, text message, email, or social media message. Sometimes, it could be an alert on the user’s computer.

Scammers aim to alarm and persuade victims to take sudden action before they realize they’re being scammed.

The scammers pose as helpers, using messages like “protect your money” and “take care of any criminal charges” while carrying out illegal activities.

They then pressure consumers into making large cash withdrawals and depositing their funds in a Bitcoin ATM to complete the transaction.

Once the deposit is made, the scammers ask the consumer to scan and send a QR code. This gives the criminals unrestricted access to the funds and often makes it impossible for victims to recover their crypto assets.

How to Avoid Getting Scammed

Attorney General Sunday believes Pennsylvanians can avoid these scams. He suggests not clicking links or responding directly to unexpected calls, texts, emails, or computer pop-ups.

He also advises consumers to be patient when conducting transactions. He notes that law enforcement and bank personnel would never rush anyone when requesting information.

Furthermore, he stated that legitimate businesses and government agencies would not request payment in Bitcoin, gift cards, or through money transfers.

Crypto users are advised to be cautious when transacting online. They are urged to avoid phishing links or emails to prevent becoming scam victims.

Authorities Take Action Against Crypto Scams

Several law enforcement agencies worldwide are taking steps to protect residents against Bitcoin ATM scams and related crypto fraud. Recently, the United States Securities and Exchange Commission (SEC) replaced the Crypto Assets and Cyber Unit with the Cyber and Emerging Technologies Unit (CETU).

The newly established CETU consists of up to 30 fraud specialists responsible for protecting retail investors from bad actors in emerging technologies.

Similarly, the Federal Bureau of Investigation (FBI) saved several Americans from losing their money through a new initiative called Operation Level Up. This initiative recovered about $285 million in losses from scams between January 2024 and January 2025.

[blockinsider]

Aya Miyaguchi Steps in as Ethereum Foundation President Following Leadership Controversies

Key Points

Aya Miyaguchi has stepped up from Executive Director to President at the Ethereum Foundation (EF).

The EF has faced several controversies in recent years, impacting the mainstream adoption of the Ethereum network.

Aya Miyaguchi has taken on the role of President at the Ethereum Foundation (EF) after stepping down from her position as Executive Director. This leadership change comes after a period of internal misunderstandings within the organization.

As Executive Director, Miyaguchi was instrumental in guiding the Ethereum network through several hard forks, including the merge. She also fostered a successful culture of Devcon, among other accomplishments.

EF’s New Leadership

In her new role, Miyaguchi will continue to support the EF in many ways. Vitalik Buterin, co-founder of the Ethereum network, stated that the EF is working on a new leadership structure, with more news to be shared soon.

In a blog post, Miyaguchi stated that the EF aims to foster a resilient Ethereum network and a broader ecosystem of people, ideas, and values. She also highlighted the EF’s philosophy of enabling the sustainable growth of Ethereum through bootstrapping projects, rather than owning the majority stake in web3 projects.

EF’s Past Controversies

The EF has faced several controversies over the years. These controversies have had a significant impact on the mainstream adoption of the Ethereum network. For example, in 2024, the Ethereum community was upset when EF researchers Justin Drake and Dankrad Feist took paid advisory roles with the EigenLayer Foundation, leading to accusations of conflict of interest.

The EF has also been criticized for its lack of clear treasury management, low transparency, and potential funds misappropriation. In response to these issues, Buterin announced earlier this year that he would take over the leadership role at the EF until a proper replacement is found.

Impact of Leadership Change

The leadership change at the EF is expected to have a long-lasting impact on the Ethereum network and its associated projects. This includes layer two ecosystems and DeFi protocols. The change is also expected to boost confidence among institutional investors in the mainstream adoption of Ether and its smart contracts.

Despite these challenges, the Ethereum network remains a leader in Web3, with more than $53 billion of total value locked (TVL) and over $122 billion in stablecoins market caps. However, Ethereum has experienced significant bearish sentiment in the past year compared to its competitors. For instance, Solana’s price has rallied over 10x in the past year to retest its all-time high, while the price of Ethereum has continued to fall compared to Bitcoin.

[blockinsider]

Bitcoin ATM Leader Bolsters Reserves Amidst $1.59B Market Liquidation Turmoil

Key Points

Bitcoin Depot has increased its Bitcoin reserves with a purchase of 11.1 BTC.

The company operates 8289 Bitcoin ATMs across the US, Canada, and Puerto Rico.

Bitcoin Depot has bolstered its Bitcoin reserves by purchasing an additional 11.1 BTC. This move underscores the company’s dedication to holding the leading cryptocurrency as a treasury asset.

Although the exact cost of the acquisition was not revealed, it is estimated to be around $969,748 based on Bitcoin’s current market value of $87,274 per BTC.

Bitcoin Depot’s Reserve Strategy

In June 2024, Bitcoin Depot officially started holding Bitcoin as a reserve asset. This made it part of a growing number of publicly traded companies integrating the cryptocurrency into their corporate treasuries. Companies such as KULR Technology Group, Selmer Scientific, Acurx, and Riot Platforms have also taken similar steps.

Bitcoin Depot views Bitcoin as more than a digital asset. It sees it as a long-term investment capable of weathering economic uncertainty. As such, the company allocated a portion of its corporate reserves to Bitcoin, citing its potential as a hedge against inflation and financial instability.

Since launching this strategy, Bitcoin Depot has been steadily increasing its holdings. On February 3 of this year, the company announced a significant purchase of 51 BTC for $5 million, bringing its total reserves to 71.5 BTC. With this latest acquisition, the company’s treasury now holds 82.6 BTC.

Bitcoin Depot’s Market Presence

Bitcoin Depot entered the cryptocurrency space in 2016 and has since become the largest Bitcoin operator in the United States. According to data from CoinATMradar, Bitcoin Depot currently operates 8289 kiosks across the US, Canada, and Puerto Rico.

In July 2023, Bitcoin Depot made history by becoming the first US-based crypto ATM provider to go public. It debuted on the Nasdaq stock exchange under the ticker symbol BTM, marking a significant milestone for the industry.

The company’s latest Bitcoin investment comes at a time when the digital asset market is experiencing a sharp downturn. Following a $1.4 billion hack of the crypto exchange Bybit, Bitcoin’s price fell below the $90,000 mark. As of now, the cryptocurrency is trading at approximately $87,274, reflecting an 8% decline over the past 24 hours.

Other major cryptocurrencies like Ethereum and Solana have also suffered losses, with Ethereum currently trading at around $2,417, down more than 9%, and Solana falling to $141.50, a 7.8% decline.

This recent price drop has triggered a wave of liquidations in the futures market. Data from CoinGlass shows that over $13 million was liquidated in the last hour alone. Four hours ago, nearly 388,466 traders experienced a combined loss of $225.02 million. Total liquidations in the past 24 hours have reached a staggering $1.59 billion.

[blockinsider]

Bitdeer Invests $240M in TSMC Chips, Revolutionizing Crypto Mining Landscape

Key Points

Bitdeer invests $240M in TSMC chips to boost its Bitcoin mining capabilities.

CEO Jihan Wu is planning to sell up to 4 million Bitdeer shares between March and June 2025.

The Singapore-based technology group, Bitdeer, announced on Tuesday that it has invested $240 million in TSMC chips. A report from The Miner Mag suggests the company aims to achieve 40 EH/s by 2025 with its proprietary SEALMINER hardware.

Bitdeer’s Investment in Bitcoin Mining

Last quarter, Bitdeer spent $325 million in cash for operations, with a significant portion of this going to chipmaker TSMC. The company spent $190.6 million on the production of SEAL02 chips and invested an additional $52.8 million in the tapeout process for SEAL03, which includes risk wafers.

An increase in prepayments was also noted in the report. By the end of December 2024, Bitdeer had reserved $310 million for future expenses, a significant increase from the $97 million set aside the previous year. These payments are intended for the mass production of the SEAL02.

The company has ambitious plans for its SEALMINER hardware. It aims to boost its capabilities by 32 EH/s in 2025 and plans to mass-produce the SEALMINER A1 and A2 models. Bitdeer’s Chief Business Officer, Matt Kong, expressed confidence that the company could surpass its 40 EH/s goal, depending on TSMC’s delivery speed.

CEO’s Financial Moves and Market Response

While Bitdeer focuses on strategic growth, its CEO, Jihan Wu, is making significant financial moves. He has developed a 10b5-1 trading plan that will allow him to sell up to 4 million Bitdeer shares between March and June 2025, ensuring that the sales comply with SEC guidelines.

Despite these strategic moves, Bitdeer’s financial reports reveal high expenses. The company announced a total revenue of $69 million for Q4 2024, with $43.8 million coming from its proprietary and cloud mining businesses. However, rising costs are impacting profits.

Bitdeer spent $26.7 million on direct mining costs, averaging $53,769 per Bitcoin mined. The fleet hash cost was $35.1 per PH/s. Additional corporate and financial expenses have increased the company’s overall spending, primarily due to increasing debt and hardware development costs.

Investors are closely monitoring Bitdeer as the company heavily invests in its SEALMINER hardware. However, the high costs are raising questions about its long-term profitability. Wu’s stock sales and uncertainty around chip production have divided the market on Bitdeer’s future. Despite these positive moves, Bitdeer saw its stock drop by over 29% to $9.28.

[blockinsider]

Bitcoin Update: Dipping Below $88K Sparks $1.3B in Cryptocurrency Liquidations Amid Low Whale Interest

Key Points

Bitcoin’s price has slipped below a critical support level, triggering over $1.3 billion in crypto liquidations.

Whale investors are exiting the market, increasing the supply of Bitcoin on centralized exchanges.

The price of Bitcoin has dipped below its key support level in the past two days, falling to as low as $87.7K on some exchanges.

After breaking a significant support level of around $91k, Bitcoin’s price has been retesting a weak liquidity level of around $89.3K.

Technical Analysis of Bitcoin’s Price

If Bitcoin’s price consistently closes below $91k in the coming weeks, a reversal pattern will be confirmed.

This pattern, characterized by double tops around $108K and a bearish divergence of the Relative Strength Index (RSI), could potentially lead to a drop towards the next major support level of around $77k.

Impact of Bitcoin’s Price Drop

The recent volatility of Bitcoin has increased the fear of further crypto selloffs, emboldening short sellers.

As a result, over $1.3 billion was liquidated from the entire crypto market, mostly from long traders on BTC and Ether markets.

Over 362K traders were liquidated in the past 24 hours, with the largest single liquidation order involving $20 million of BTC/USDT on Binance.

Whale Investors Exiting the Market

On-chain data shows that more whale investors are taking profits to protect their capital.

In the past week, the overall supply of BTC on centralized exchanges has increased by about 17,185 coins.

The demand for US spot BTC ETFs has significantly declined in the past three weeks, with a net cash outflow on Monday of about $516 million.

However, Strategy (NASDAQ: MSTR), El Salvador, and Metaplanet Inc continue to accumulate BTC. Metaplanet recently announced the acquisition of 135 BTCs for $13 million.

Is the 2025 Bull Cycle Over?

The 2024/2025 crypto bull cycle has been complicated by the entrance of more institutional investors, nation-states, and complex regulatory frameworks.

As a result, geopolitical tensions, particularly those escalated by the US tariff wars, have heavily impacted the crypto market.

These macroeconomic uncertainties will negatively affect the global supply chain and, in turn, Bitcoin’s demand.

More institutional investors and central banks are now turning to the Gold market, which has recorded a new weekly all-time high since the beginning of the year.

The highly anticipated crypto parabolic rally in 2025 will be triggered by the return of whale investors and the potential inclusion of BTC in the US Sovereign Wealth Fund.