Cointelegraph

The upcoming Smart Cashtags feature on the X social media platform will allow users to trade stocks and crypto directly within the application, according to Nikita Bier, X’s head of product.

“We are launching a number of features in a couple of weeks, including Smart Cashtags that will enable you to trade stocks and crypto directly from the timeline,” Bier said in an X post on Saturday.

Bier announced the upcoming rollout of Smart Cashtags in January, teasing the possibility of in-app trading in an image showing the feature in the announcement, but no official confirmation.

Source: Nikita Bier

The X platform introduced a basic Cashtag system in 2022 that tracked the prices of major stocks and cryptocurrencies and provided visual financial data for supported assets, including Bitcoin (BTC) and Ether (ETH), but the feature was discontinued.

Cointelegraph reached out to X about the upcoming feature, but did not receive a response by the time of publication.

The X platform is a hub of crypto-related activity, and the integration of in-app trading brings it closer to owner Elon Musk’s stated goal of becoming an “everything app,” similar to WeChat, a messaging and social media app in China with integrated payment features.

Related: Musk's xAI seeks crypto expert to train AI on market analysis

X inches into payments as it attempts to become an “everything app”

Elon Musk provided an update on Wednesday for the launch timeline of X Money, the platform’s payments feature that will allow users to send each other money, similar to Venmo or Cash App.

Elon Musk speaking at the xAI “All Hands” presentation about X Money and other upcoming products. Source: xAI

Speaking at his AI company xAI’s  “All Hands” presentation, Musk said the X Money feature is still in a limited beta testing phase over the next two months, with a worldwide rollout after the testing phase concludes.

“This is intended to be the place where all money is. The central source of all monetary transactions,” he said.

The X platform has about 600 million average monthly users, according to Musk. “We want it to be such that if you wanted to, you could live your life on the X app,” he added.

Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’

Blockchain technology is an effective medium for administering social benefit programs, but key compliance challenges remain, according to Julie Myers Wood, CEO of compliance and monitoring consulting firm Guidepost Solutions.

Guidepost Solutions advised the Republic of the Marshall Islands’ government on a regulatory compliance and sanctions framework for its USDM1 bond, a tokenized debt instrument issued by the government, backed 1:1 by short-term US Treasuries.

The Marshall Islands government launched a Universal Basic Income (UBI) program in November 2025 that distributes quarterly benefits to citizens directly through a mobile wallet. Wood told Cointelegraph:

“Any benefit that is currently being distributed through analog means should be explored for a digital delivery option for several reasons. Digital delivery speeds up the process and can provide an auditable trail for provisioning and expenditures.”

The market for non-US tokenized government debt instruments continues to grow. Source: RWA.XYZ

Several governments are exploring tokenized debt instruments and administering social benefit programs onchain to eliminate settlement delays and costly transaction fees inherent in traditional finance by disintermediating the issuing and clearing process.

Regulatory compliance and sanctions challenges remain as the tokenized bond market grows

The cost reduction and near-instant settlement times for tokenized bonds and other onchain instruments democratize access to the financial system for individuals who lack access to traditional banking infrastructure.

However, anti-money laundering (AML) requirements and sanctions compliance are two of the biggest regulatory risks for governments issuing onchain bonds to the public, Wood told Cointelegraph.

Governments issuing tokenized bonds must also collect know-your-customer (KYC) information to ensure that funds are directed to the proper recipients, she added.

The tokenized US Treasury market grew by over 50x since 2024, according to data from crypto analysis platform Token Terminal.

The tokenized US Treasury market has grown by over 50x since 2024. Source: Token Terminal

The tokenized bond market could surge to $300 billion, according to a forecast from Lamine Brahimi, co-founder of Taurus SA,  an enterprise-focused digital asset services company.

Reduced settlement times, transaction costs and asset fractionalization, which allows individuals to purchase fractions of a financial asset, all expand investor access to the global financial system, Brahimi told Cointelegraph.

Magazine: Will Robinhood’s tokenized stocks REALLY take over the world? Pros and cons

Figure Technology, a blockchain-based lending firm, was reportedly hit by a data breach after attackers manipulated an employee in a social-engineering scheme.

The incident allowed hackers to obtain “a limited number of files,” a company spokesperson told TechCrunch. The company said it has begun notifying affected parties and is offering free credit-monitoring services to anyone who receives a breach notice.

Details about the scope of the incident, including how many users were affected or when the intrusion was detected, were not disclosed publicly. Cointelegraph reached out to Figure for comment, but had not received a response by publication

The hacking collective ShinyHunters claimed responsibility on its dark-web leak site, alleging the company declined to pay a ransom. The group published roughly 2.5 gigabytes of data said to have been taken from Figure’s systems.

ShinyHunters publishes stolen data. Source: Dominic Alvieri

Related: 'Hundreds' of EVM wallets drained in mysterious attack: ZachXBT

Leaked Figure data includes names, addresses

TechCrunch reported that it reviewed samples of the leaked material, which included customers’ full names, home addresses, dates of birth and phone numbers. This information could be used for identity fraud and phishing attempts.

As Cointelegraph reported, crypto phishing attacks linked to wallet drainers dropped sharply in 2025, with total losses falling to $83.85 million, an 83% decline from nearly $494 million in 2024, according to Web3 security firm Scam Sniffer. The number of victims also fell to about 106,000, down 68% year over year across Ethereum Virtual Machine chains.

Researchers said the drop does not mean phishing has disappeared. Losses closely tracked market activity, rising during periods of heavy onchain trading and easing when markets cooled. The third quarter of 2025, during Ethereum’s strongest rally, recorded the highest losses at $31 million, with monthly totals ranging from $2.04 million in December to $12.17 million in August.

Related: Crypto hack counts fall, but supply chain attacks reshape threat landscape

Figure Technology goes public

Figure Technology went public in September last year, listing on the Nasdaq Stock Exchange. The fintech firm, known for its blockchain-based lending, priced its initial public offering (IPO) at $25 per share, raising $787.5 million and achieving an initial valuation of approximately $5.3 billion to $7.6 billion.

Last month, Figure Technology launched the On-Chain Public Equity Network (OPEN), a platform on its Provenance blockchain that lets companies issue real shares and allows investors to lend or pledge those shares directly to one another without traditional brokers, custodians or exchanges.

Magazine: Meet the onchain crypto detectives fighting crime better than the cops

ARK Invest has returned to buying shares of Coinbase Global after trimming its position, adding roughly $15 million worth of stock across several of its actively managed exchange-traded funds (ETFs) on Friday.

The Cathie Wood-led asset manager purchased 66,545 Coinbase shares through the ARK Innovation ETF (ARKK), 16,832 shares through Next Generation Internet ETF (ARKW) and 9,477 shares through Fintech Innovation ETF (ARKF), according to the firm’s daily trade disclosures.

The buying activity coincided with a sharp surge in Coinbase stock. Shares closed the trading session at $164.32, up about 16.4% on the day, before edging higher in after-hours trading, according to data from Google Finance. The surge put the firm’s total purchase at roughly $15.2 million.

Alongside Coinbase, ARK also increased its stake in Roblox Corporation, buying shares in ARKK, ARKW and ARKF. Roblox closed near $63.17 on the New York Stock Exchange on Friday.

Coinbase shares surged 16% on Friday. Source: Google Finance

Related: Coinbase unveils crypto wallets designed specifically for AI agents

ARK cuts Coinbase shares across ETFs

Last week, ARK Invest reduced its exposure to Coinbase, selling about $17.4 million in Coinbase stock on Feb. 5 for the first time this year and its first reduction since August 2025.

The exchange then sold another $22 million worth of Coinbase shares across several ETFs on Feb. 6, while increasing its position in digital-asset platform Bullish.

As Cointelegraph reported, Coinbase became the top detractor across several of Cathie Wood’s ARK Invest ETFs in the fourth quarter of 2025, as a broader crypto market pullback pressured performance. Shares of Coinbase fell more sharply than both Bitcoin (BTC) and Ether (ETH) during the quarter.

Related: Coinbase bets on Backstreet Boys nostalgia in return to Super Bowl

Coinbase posts $667 million Q4 loss

Coinbase reported a net loss of $667 million in the fourth quarter of 2025, ending an eight-quarter run of profitability. Earnings per share came in at 66 cents, missing analyst expectations of 92 cents, while net revenue fell 21.5% year-over-year to $1.78 billion. Transaction revenue dropped nearly 37% to $982.7 million, although subscription and services revenue rose more than 13% to $727.4 million.

The weaker results coincided with a downturn in crypto markets. Coinbase said it generated $420 million in transaction revenue early in Q1 but expects subscription and services revenue to decline.

Magazine: Bitget’s Gracy Chen is looking for ‘entrepreneurs, not wantrepreneurs’

A reversal in memecoins could come sooner than traders expect, even amid choppy conditions across the broader crypto market, if history is any indication, according to crypto sentiment platform Santiment.

“There is a growing narrative of "nostalgia" regarding memecoins, with many traders treating the sector as if it is permanently dead,” Santiment said in a report published on Friday.

Dogecoin’s price, which has historically moved significantly during memecoin uptrends, is down 32% over the past 30 days. Source: CoinMarketCap

“This collective acceptance of the 'end of the meme era' is a classic capitulation signal,” Santiment said, explaining that when a sector of the market is completely written off, it is often the “contrarian time” to start paying attention.

“Watch sectors that the crowd has left for dead; max pain often marks the bottom,” Santiment said.

Memecoin market cap falls amid market decline

The total memecoin market capitalization has fallen 34.04% to $31.02 billion over the past 30 days amid a wider crypto market decline that saw Bitcoin (BTC) fall near $60,000 on Feb. 3, the lowest point the asset’s price has been since October 2024, according to CoinMarketCap.

Among the top 100 cryptocurrencies, memecoin gains over the past seven days were mostly modest, except for outlier Pippin (PIPPIN), which surged 243.17%. The next best performers were Official Trump (TRUMP), up 1.37%, and Shiba Inu (SHIB), up 1.11%.

In previous cycles, market participants often expected Bitcoin to reach new all-time highs first, followed by a rotation of capital into Ethereum (ETH) and then into higher-risk altcoins. 

However, as Bitcoin matures and institutional interest grows, some analysts are now questioning whether the familiar rotation pattern will play out the same way.

Altcoin season may not be “rising tide raises all ships”

Others have suggested that, unlike previous altcoin seasons where gains were broadly spread across the market, the next altcoin season may be far more selective, with only certain cryptocurrencies seeing upside. 

Craig Cobb, the founder of The Grow Me, told Magazine in August 2025 that the next altcoin season will not be “the rising tide raises all ships.”

Related: Bitcoin holders are being tested as inflation eases: Pompliano

Santiment pointed to a growing fear on the crypto market on social media, with significantly more bearish than bullish comments, which may also be a sign that a market rebound is underway.

“Historically, markets move against the crowd's expectations. This lingering disbelief, even during a price pump, is a healthy sign for a potential sustained recovery,” Santiment said.

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder

Bitcoin investors are being forced to rethink why they hold the asset as inflation data cools, according to Bitcoin entrepreneur Anthony Pompliano.

“I think the challenge for Bitcoin investors, can you hold an asset when there is not high inflation in your face on a day-to-day basis?” Pompliano said during an interview with Fox Business on Thursday. “Can you still believe in what Bitcoin’s value proposition is, which is that it’s a finite-supply asset. If they print money, Bitcoin is going higher,” he said.

“Bitcoin and gold are great long-term things,” he said. The Consumer Price Index (CPI) fell to 2.4% in January from 2.7% in December, according to the Bureau of Labor Statistics. However, Mark Zandi, Moody’s chief economist, recently told CNBC that inflation “looks better on paper than in reality.”

Anthony Pompliano spoke to Charles Payne on Fox Business on Thursday. Source: Fox Business

Bitcoin (BTC) is typically seen as a hedge against inflation because only 21 million coins will ever exist. When central banks increase the money supply and the value of fiat currencies declines, investors often turn to perceived riskier assets, such as Bitcoin, to protect their purchasing power.

Bitcoin sentiment has reached multi-year lows

It comes as sentiment for Bitcoin has reached multi-year lows not seen since June 2022, with the Crypto Fear & Greed Index, which measures overall crypto market sentiment, posting an “Extreme Fear” score of 9 in its Saturday update.

Bitcoin is down 28.14% over the past 30 days. Source: CoinMarketCap

Bitcoin is trading at $68,850 at the time of publication, down 28.62% over the past 30 days, according to CoinMarketCap.

US dollar devaluation will be covered up by “monetary slingshot”

Pompliano said the macro environment could create short-term volatility for Bitcoin before it resumes its upward trajectory.

“We’re going get deflationary-type forces in the short term, people are going to ask to print money and to drop interest rates,” he said.

He explained that this will lead to the devaluation of the US dollar, though the effect won’t be immediately visible.

“The currency is going to be devalued at a time where deflation covers up the impact, so I call it a monetary slingshot,” Pompiano said.

Pompliano forecasted that the Federal Reserve will continue to expand the money supply to “deal with inflation,” but as the dollar faces further devaluation, he expects Bitcoin to become “more valuable than ever.”

The US dollar index, which tracks the dollar's strength against a basket of major currencies, is down 2.32% over the past 30 days and is trading at $96.88, according to TradingView. 

Magazine: Bitcoin’s ‘biggest bull catalyst’ would be Saylor’s liquidation: Santiment founder

Key takeaways:

Institutional demand for Ether is cooling as investors shift toward the safety of short-term US government bonds. 

High interest rates and rising ETH supply make the current staking yield less attractive for long-term holders.

Ether (ETH) price has failed to sustain levels above $2,150 since Feb. 5, leading traders to fear a further correction. Investor sentiment deteriorated following outflows from Ether exchange-traded funds (ETFs) and increased demand for put (sell) options.

US-listed Ether ETFs daily net flows, USD million. Source: Farside Investors

US-listed Ether ETFs saw $242 million in net outflows between Wednesday and Thursday, reversing the trend from the prior two days. The institutional demand that followed the 20% Ether price recovery after the $1,744 bottom on Feb. 6 has faded as investors noted inconsistency in US economic growth—evident by the growing demand for short-term US government bonds.

US 2-year Treasury yield. Source: TradingView

Yields on the US 2-year Treasury declined to 3.42% on Friday, nearing the lowest levels seen since August 2022. The higher demand for government-backed debt reflects traders’ expectations of further interest rate cuts by the US Federal Reserve (Fed) throughout 2026. Signs of economic stagnation reduce inflationary risks, paving the way for expansionist measures.

Regardless of macroeconomic trends, Ether has underperformed the broader cryptocurrency market, causing traders to question if Ethereum still has what it takes to compete against networks that offer base layer scalability and faster onchain activity.

Traders fear that ETH price is destined for more downside, but data seems to reflect the recent price weakness rather than the anticipation of a further crash.

ETH/USD (orange) vs. total crypto capitalization (blue). Source: TradingView

Ether price declined 38% in 30 days, which negatively pressures the network’s fees and ultimately reduces incentives for staking. Long term holding is a critical component for sustainable price growth, and the current 2.9% staking yield is far from appealing, considering the US Fed target rate stands at 3.5%. Furthermore, the ETH supply is growing at an 0.8% annualized rate.

ETH derivatives metrics reflect traders' fear of further price drops

Professional traders are not comfortable holding downside price exposure according to ETH derivatives metrics, which further reinforces the bearish sentiment.

ETH 30-day options delta skew (put-call) at Deribit. Source: Laevitas.ch

The ETH options delta skew stood at 10% on Friday, meaning put (sell) options traded at a premium. The increased demand for neutral-to-bearish strategies causes the indicator to move above the 6% threshold, which has been the norm for the past two weeks. Traders’ mood reflects a six-month bear market as ETH trades 58% below its all-time high.

Related: Crypto investor sentiment will rise once CLARITY Act is passed–Bessent

From a broader perspective, a mere $242 million in Ether ETF outflows represents less than 2% of the total $12.7 billion in assets under management; hence, traders should not assume that ETH price has entered a death spiral. Investors' morale will eventually recover as the network remains the absolute leader in Total Value Locked (TVL).

Traders’ attention will likely remain centered on corporate earnings results and whether the US government will be able to refinance its debt amid growing global socio-economic tensions. Under this scenario, ETH price will likely remain pressured regardless of onchain and derivatives metrics.

The banking industry should not be threatened by crypto companies offering stablecoin yield to customers, and both sides must compromise on the issue, according to White House crypto adviser Patrick Witt.

Witt said it was “unfortunate” that the issue of stablecoin yield has become a major point of contention between the crypto industry and banks, adding that crypto service providers sharing yield with customers does not threaten the banking industry’s business model or market share. He told Yahoo Finance:

“They can also offer stablecoin products to their customers, just the same as crypto. This is not an unfair advantage in either way, and many banks are now applying for OCC bank charters themselves to start offering bank-like products to their customers.

White House crypto adviser Patrick Witt provides an update on the CLARITY bill negotiations. Source: Yahoo Finance

In the future, I don't think this is going to be an issue,” he continued, adding, “I think they're going to find opportunities to use these products and leverage them and offer new products to their customers and expand their businesses.”

The ability of crypto service providers and platforms to offer rewards to customers who hold stablecoins has emerged as one of the most significant pain points for the industry, contributing to delays in passing the CLARITY market structure bill.

Time is running out on passing the CLARITY Act, Witt and others warn

The proposed CLARITY Act establishes clear regulatory jurisdiction over crypto markets between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), and also creates an asset taxonomy for cryptocurrencies.

However, government officials and industry executives have warned that the looming 2026 US midterm elections could derail efforts to pass it into law and threaten to roll back crypto regulations established by the administration of US President Donald Trump.

“I think if the Democrats were to take the House, which is far from my best case, then the prospects of getting a deal done will just fall apart,” US Treasury Secretary Scott Bessent said on Friday.

“There's a window here. The window is still open, but it is rapidly closing,” Witt said, adding that the White House Crypto Council is aiming to have the CLARITY Act signed into law before the midterms “take all of the oxygen out of the room.”

Magazine: How crypto laws changed in 2025 — and how they’ll change in 2026

Ether (ETH) traded back above $2,000 on Friday, and its gains extended after the US Consumer Price Index (CPI) print came in cooler than expected.

The recovery put ETH/USD on track for its first bullish weekly candle close since mid-January, fueling speculation for a rally toward $2,500. 

Key takeaways:

Ethereum futures’ open interest fell by 80 million ETH in 30 days, and funding rates hit three-year lows, indicating a weakening bearish trend.

ETH price has established strong support around $2,000, a level that must hold to secure the recovery. 

ETH/USD hourly chart. Source: Cointelegraph/TradingView

Ethereum open interest falls by 80 million ETH

CryptoQuant data shows Solana’s futures open interest (OI) across all major exchanges has dropped by over 80 million ETH in the past 30 days. 

Binance, the world’s largest cryptocurrency exchange by trading volume, recorded the largest decline of about 40 million ETH (50%) over the last 30 days. 

Related: ETH ETF holders in ‘worse position’ than BTC ETF peers as crypto market looks for bottom

Ether’s OI on Gate exchange fell by more than 20 million ETH (25%), while Bybit and OKX saw declines of 8.5 million ETH and 6.8 million ETH, respectively. Cumulatively, the four major platforms saw a total decline of approximately 75 million ETH, while other platforms accounted for the remaining 5 million ETH, confirming that the phenomenon is widespread and not limited to a single exchange.

This suggests that leverage traders are “reducing their exposure rather than opening new positions,” CryptoQuant analyst Arab Chain said in a Quicktake analysis.

This significant drop in OI amid dropping prices can be “viewed as a clean-up of weaker positions, thereby reducing the likelihood of sharp forced liquidations later on,” the analyst said, adding:

“This environment may pave the way for a period of relative stability or the formation of a more solid price base for Ethereum in the near future.”

ETH open interest 30-day change. Source: CryptoQuant

Ethereum futures funding rates on Binance have plunged deep into negative territory at -0.006, marking the lowest value recorded since early December 2022. 

“It indicates that the bearish sentiment has reached an extreme peak not seen in the last three years,” CryptoQuant contributor CryptoOnchain said in a Thursday Quicktake analysis.

Historically, extreme negative funding rates at major price support levels often precede a short squeeze. 

“When the crowd is this convinced that prices will fall further, the market tends to move in the opposite direction to liquidate late bears,” the analyst said, adding:

“Current data suggests we may be witnessing a classic capitulation event, mirroring the bottom formation of late 2022, potentially setting the stage for a sharp recovery.”

Ethereum futures finding rates. Source: CryptoQuant

As Cointelegraph reported, Ethereum’s surging network activity and rising institutional investor inflows are significant tailwinds for any short-term ETH price gains.

ETH price technicals: Bulls must keep Ether above $2,000

The ETH/USD pair broke out of a falling wedge on the four-hour chart, to trade at $2,050 at the time of writing. 

The measured target of the falling wedge, calculated by adding the wedge's maximum height to the breakout point at $1,950, is $2,150.

Higher than that, the price could rise to retest the 100-period simple moving average (SMA) at $2,260 and later toward $2,500.

ETH/USD four-hour chart. Source: Cointelegraph/TradingView

On the downside, a key area to hold is the $2,000 psychological level, embraced by the 50-period SMA, as shown in the chart below.

The Glassnode cost basis distribution heatmap reveals a significant support area recently established between $1,880 and $1,900, where investors acquired approximately 1.3 million ETH.

ETH cost basis distribution heatmap. Source: Glassnode

As Cointelegraph reported, Ethereum accumulation addresses witnessed a surge in daily inflows as ETH dropped below $2,000 last week, signalling strong investor confidence in its long-term potential.

Key points:

Bitcoin is attempting a comeback, which is expected to face stiff resistance at the breakdown level of $74,508.

Several major altcoins are attempting a recovery, signaling that lower levels are attracting buyers.

Bitcoin (BTC) has risen above $68,500, as buyers attempt to form a higher low near $65,000. According to Glassnode, BTC is stuck between the true market mean at $79,200 and the realized price near $55,000. The on-chain data provider expects the range-bound action to continue until a major catalyst either pushes the price above or below the range.

Standard Chartered also had a muted forecast for BTC. It lowered BTC’s target to $100,000 from $150,000 for 2026. The bank expects BTC to fall to $50,000 over the next few months, followed by a recovery for the remainder of the year.

Crypto market data daily view. Source: TradingView

Several analysts also believe that BTC has not yet bottomed out. Crypto analyst Tony Research said in a post on X that BTC will bottom in the $40,000 to $50,000 zone, possibly “between mid-September and late November 2026.”

Could BTC and the major altcoins start a recovery? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

Bitcoin price prediction

BTC turned up from $65,118 on Thursday, indicating demand at lower levels. The bulls will try to push the price to the breakdown level of $74,508.

BTC/USDT daily chart. Source: Cointelegraph/TradingView

If the Bitcoin price turns down sharply from the $74,508 level, it suggests that the bears remain active at higher levels. That may keep the BTC/USDT pair between $74,508 and $60,000 for a few days. On the downside, a break below the $60,000 support may sink the pair to $52,500.

Alternatively, if buyers thrust the price above $74,508, it suggests that the selling pressure is reducing. The pair may then rally to the 50-day simple moving average ($85,046).

Ether price prediction

Buyers are attempting to push and maintain Ether (ETH) above the $2,000 level, but the bears have kept up the pressure.

ETH/USDT daily chart. Source: Cointelegraph/TradingView

If the price turns down from the current level or the $2,111 resistance, it suggests that the bears are aggressively defending the level. The Ether price may then retest the critical support at $1,750. If the level cracks, the ETH/USDT pair may extend the decline to the next major support at $1,537.

On the upside, buyers will have to swiftly push the price above the 20-day EMA ($2,297) to signal a comeback. If they manage to do that, the pair might ascend to the 50-day SMA ($2,800).

BNB price prediction

BNB (BNB) continues to gradually slide toward the strong support at $570, which is a vital level to watch out for.

BNB/USDT daily chart. Source: Cointelegraph/TradingView

If the BNB price plunges below the $570 support, it signals the start of the next leg of the downtrend toward the psychological level of $500. 

However, the RSI is in the oversold territory, indicating that a relief rally is possible in the near term. If the price turns up from the current level, the bulls will attempt to push the BNB/USDT pair above the $669 level. If they can pull it off, the pair may march toward the 20-day EMA ($710).

XRP price prediction

XRP (XRP) has been clinging to the support line of the descending channel pattern, increasing the risk of a breakdown.

XRP/USDT daily chart. Source: Cointelegraph/TradingView

If that happens, the XRP price may drop to the $1.11 level. This is a critical level for the bulls to defend, as a break below it may resume the downtrend. The XRP/USDT pair may then fall to $1 and subsequently to $0.75.

Contrarily, if the price turns up from the current level and breaks above the20-day EMA ($1.55), it suggests that the pair may remain inside the channel for some more time. Buyers will have to achieve a close above the downtrend line to signal a potential trend change.

Solana price prediction

Solana (SOL) is trying to find support at the $77 level, but the bears are likely to sell on rallies.

SOL/USDT daily chart. Source: Cointelegraph/TradingView

The SOL/USDT pair might reach the breakdown level of $95, where the bears are expected to pose a strong challenge. If the price turns down sharply from the $95 level, it suggests that the bears have flipped the level into resistance. The Solana price may then plummet to the $67 level.

Conversely, if buyers push the price above the $95 level, the pair may rally to the 50-day SMA ($119). That suggests the break below the $95 level may have been a bear trap.

Dogecoin price prediction

Dogecoin (DOGE) is attempting to bounce off the $0.09 level, but the bears continue to sell on minor rallies.

DOGE/USDT daily chart. Source: Cointelegraph/TradingView

If the Dogecoin price turns down and breaks below $0.09, the DOGE/USDT pair might drop to the $0.08 level. This is a crucial level for the bulls to defend, as a break below it may extend the downtrend to $0.06.

The first sign of strength will be a break and close above the 20-day EMA ($0.10). The pair may then rally to the breakdown level of $0.12, which is likely to act as stiff resistance. A break above the $0.12 level opens the doors for a rally to $0.16.

Bitcoin Cash price prediction

Bitcoin Cash (BCH) broke below the $497 support on Thursday, but the bulls failed to sustain the lower levels.

BCH/USDT daily chart. Source: Cointelegraph/TradingView

The bulls are attempting to push the price above the 20-day EMA ($536) but are expected to face significant resistance from the bears. If the price turns down from the 20-day EMA and breaks below $493, the BCH/USDT pair may plunge toward the $443 level.

On the contrary, if the price breaks and closes above the 20-day EMA, it suggests demand at lower levels. The Bitcoin Cash price may then rally to the 50-day SMA ($581), where the bears are again expected to mount a strong defense.

Hyperliquid price prediction

Hyperliquid (HYPE) has risen back above the 20-day EMA ($30.18) on Thursday, indicating buying on dips.

HYPE/USDT daily chart. Source: Cointelegraph/TradingView

The flattish 20-day EMA and the RSI just above the midpoint suggest a balance between supply and demand. Buyers will have to propel the Hyperliquid price above the $35.50 level to indicate that the corrective phase may have ended. The HYPE/USDT pair may then ascend to $44.

Contrary to this assumption, if the price turns down and breaks below the 50-day SMA ($27.25), it signals that the bears have an edge. The pair may then slump to the $20.82 support.

Cardano price prediction

Cardano (ADA) remains inside the descending channel pattern, indicating that the bears remain in charge.

ADA/USDT daily chart. Source: Cointelegraph/TradingView

The bears will attempt to strengthen their position by pulling the price below the support line and the $0.22 level. If they manage to do that, the ADA/USDT pair may descend to $0.20 and later to $0.15.

Instead, if the Cardano price turns up from the current level and breaks above the 20-day EMA ($0.29), it signals that the pair may remain inside the channel for some more time. Buyers will seize control on a close above the channel.

Monero price prediction

Monero (XMR) is facing resistance at the breakdown level of $360, but the bulls have not ceded much ground to the bears.

XMR/USDT daily chart. Source: Cointelegraph/TradingView

That increases the likelihood of a break above $360. If that happens, the bears will again try to halt the recovery at the 20-day EMA ($385). However, buyers are likely to have other plans. They will try to pierce the 20-day EMA, clearing the path for a rally toward the 50-day SMA ($460).

This positive view will be negated in the near term if the Monero price continues lower and breaks below $309. The XMR/USDT pair may then plummet to $276, which is likely to attract buyers.

The Netherlands’ House of Representatives advanced a legislative proposal on Thursday to introduce a 36% capital gains tax on savings and most liquid investments, including cryptocurrencies.

The legislation reached the 75-vote threshold required to advance, with 93 lawmakers voting in favor of it, according to the House tally.

Under the proposal, savings accounts, cryptocurrencies, most equity investments and gains made from interest-bearing financial instruments are subject to the tax, whether or not the assets are sold.

The vote tally for the 36% capital gains tax bill. Source: Dutch House of Representatives

Critics say the bill will drive capital out of the Netherlands and into jurisdictions with more favorable tax laws, as investors seek a flight to safety from confiscatory taxation.

The Dutch Senate must also pass the bill before it is signed into law, which will take effect in the 2028 tax year, if it is passed, but many investors in the crypto community are already sounding the alarm and predicting capital flight from the country.

Related: European Commission calls on 12 countries to implement crypto tax rules

Investors say the tax is out of touch and will backfire

“France did this in 1997 and saw a massive exodus of entrepreneurs leaving the country,” Denis Payre, co-founder of logistics company Kiala said.

Crypto market analyst Michaël van de Poppe said the proposal is “the dumbest thing I've seen in a long time.”

“The number of people willing to flee the country is going to be bananas,” he added, echoing the calls of other industry analysts and executives.

An investor starting with 10,000 euros ($11,871) who contributes 1,000 euros per month over 40 years would end up with about 3,320,000 euros by the end of the 40 years, according to Investing Visuals.

However, the new 36% tax reduces the total amount after 40 years to about 1,885,000 euros, a difference of 1,435,000 euros, Investing Visuals said. 

A comparison of an investment compounded over 40 years without the 36% unrealized gains tax and with the tax. Source: Investing Visuals

Crypto industry and tech executives in the United States voiced similar concerns about California’s proposed wealth tax on billionaires.

The proposal outlined a 5% tax on an individual’s net worth above the $1 billion threshold, igniting a torrent of backlash and tech entrepreneurs announcing that they were leaving the state of California.

Magazine: Best and worst countries for crypto taxes — plus crypto tax tips

Bitcoin (BTC) was once pitched as digital gold — a hedge against monetary instability and market turmoil. But recent price action tells a different story.

As institutional participation has grown, particularly through exchange-traded funds and other traditional vehicles, Bitcoin has increasingly traded in lockstep with risk assets. The latest downturn in software stocks, fueled by renewed uncertainty around AI’s impact on the sector, has been mirrored in crypto markets, raising fresh questions about Bitcoin’s evolving identity.

That changing dynamic sets the tone for this week’s Crypto Biz. New research from Grayscale examines Bitcoin’s growing correlation with growth equities, while one Ether (ETH) treasury company is doubling down despite multibillion-dollar paper losses. Elsewhere, BlackRock is expanding its tokenization push through a Uniswap integration, and Polymarket is taking its fight over state regulation to federal court.

Grayscale: Bitcoin is trading like a growth asset, not digital gold

New research from Grayscale suggests that Bitcoin’s store-of-value narrative has recently taken a back seat, with the digital asset behaving more like a growth stock.

In the report, author Zach Pandl said that while Grayscale continues to view Bitcoin as a long-term store of value due to its fixed supply and independence from central banks, its short-term trading patterns resemble those of high-growth equities.

The analysis found a strong correlation between Bitcoin and software stocks over the past two years. That relationship has become more apparent as software companies face renewed selling pressure amid concerns that artificial intelligence could disrupt parts of the industry.

Against that backdrop, Bitcoin’s recent pullback appears less surprising, as its price has closely tracked the software sector’s movements.

Bitcoin’s recent price performance tracks closely with software stocks. Source: Grayscale

BitMine adds 40,613 ETH during market sell-off

Ether treasury company BitMine Immersion Technologies added 40,613 ETH to its holdings during the recent market sell-off, reinforcing its long-term bet on Ether even as prices plunge and paper losses reach billions of dollars. 

The purchase raised BitMine’s total Ether stash to more than 4.326 million ETH, worth about $8.8 billion at current levels. According to DropsTab data, the company is now sitting on around $8.1 billion in unrealized losses on its ETH position, reflecting a significant gap between its cost basis and today’s market price.

Despite investor criticism and pressure on its stock price, which has fallen sharply over recent months, BitMine chairman Tom Lee said the company’s strategy is designed to track Ether’s long-term trajectory and benefit from future recoveries. The company’s broader crypto and cash portfolio is valued at roughly $10 billion.

BitMine’s paper losses now exceed $8.1 billion. Source: DropStab

BlackRock buys UNI, brings BUIDL to Uniswap

BlackRock is deepening its push into decentralized finance by listing its tokenized money market fund on Uniswap, a significant step for institutional DeFi adoption.

The asset manager’s USD Institutional Digital Liquidity Fund (BUIDL) is now available on the decentralized exchange, giving whitelisted institutional investors the ability to trade the tokenized Treasury product onchain. As part of the move, BlackRock is also purchasing Uniswap’s governance token, UNI.

BUIDL is the largest tokenized money market fund, with more than $2.1 billion in assets. The fund is issued across multiple blockchains, including Ethereum, Solana and Avalanche. In December, it surpassed $100 million in cumulative distributions generated from its US Treasury holdings.

BlackRock’s BUIDL has more than $2.1 billion in assets. Source: RWA.xyz

Polymarket sues Massachusetts over state regulation of prediction markets

Decentralized prediction market Polymarket has filed a federal lawsuit against the state of Massachusetts, challenging state authorities’ efforts to restrict or shut down its event-based trading products. 

Polymarket’s chief legal officer, Neal Kumar, confirmed the filing on Monday, saying unresolved legal questions around jurisdiction should be settled at the federal level rather than through state enforcement. The lawsuit is preemptive, aimed at blocking any action by Massachusetts Attorney General Andrea Campbell that Polymarket contends would unlawfully interfere with federally regulated markets.

The company argues that the Commodity Futures Trading Commission (CFTC), not individual states, has exclusive authority over event contracts like those offered on its platform, and that state actions risk fragmenting national markets.

Source: Neal Kumar

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Bitcoin (BTC) rallied to $69,482 on Friday, and the rally coincided with data showing steady accumulation from smaller-sized holders in February.

Analysts say the breakout may evolve into a broader bullish trend, although other data suggest that a longer period of price consolidation will underlie the emerging bull trend.

Key takeaways:

BTC broke above the $69,000 resistance and its descending channel, triggering $92 million in short liquidations within four hours.

Small wallets added $613 million in February, while the whale wallets stalled with $4.5B billion in outflows.

Short-term holder profit-ratio indicator hit its lowest level since November 2022, underscoring weak sentiment over the past few weeks. 

Will the Bitcoin relief rally last?

Bitcoin has pushed above the upper boundary of its descending channel and retested $69,000. The move marks a potential bullish break of structure (BOS), if BTC holds above $68,000.

Bitcoin one-hour chart. Source: Cointelegraph/TradingView

If BTC holds above this reclaimed level, the next internal liquidity zones sit near $71,500 and $74,000. The 50 and 100-period exponential moving averages (EMAs) are now compressing beneath the price on the one-hour chart, reinforcing the possibility of the short-term momentum continuing.

The latest price surge triggered roughly $96 million in futures liquidations over the past four hours, with nearly $92 million coming from short positions, signaling a short squeeze on bearish traders.

BTC liquidations were primarily concentrated on Bybit (22.5%), Hyperliquid (22%), and Gate (15%), suggesting these platforms account for a significant share of active leveraged positioning in the market.

Related: Multi-day negative Bitcoin funding signals ‘overcrowded’ short trade: Reversal coming?

BTC retail investor demand backs the breakout

The breakout is supported by the steady buying from the smaller-sized investors. Order flow data from Hyblock shows that the small wallets ($0–$10,000) have accumulated roughly $613 million in cumulative volume delta (CVD) in February, consistently bidding during the price correction.

The mid-sized wallets ($10,000–$100,000) remain around -$216 million for the month, but the cohort added roughly $300 million since BTC fell below $60,000, suggesting selective accumulation during discounted periods.

Bitcoin CVD data across different wallet sizes. Source: Hyblock Capital

Whale wallets ($100,000 and above) saw their CVD bottom near -$5.8 billion earlier in February and have since moved sideways. This stabilization implies that the aggressive distribution has paused, though a clear accumulation trend from the large holders has yet to emerge.

For the rally to continue, whale buying may need to return, and the short-term holder spent output profit ratio (SOPR) may need to move back above 1, signaling that the recent buyers are no longer selling at a loss.

Notably, the short-term holder SOPR recently fell to its lowest level since November 2022, indicating that many recent buyers have been realizing losses, a sign that conviction may remain fragile despite the rebound.

Bitcoin short-term holder SOPR. Source: CryptoQuant

Related: Bitcoin passes $69K on slower US CPI print, but Fed rate-cut odds stay low

BlackRock made its first formal move into decentralized finance this week, listing its tokenized Treasury fund on Uniswap, with Bitcoin and Ether staging only modest rebounds amid heavy ETF outflows.

Bitcoin (BTC) and Ether (ETH) each rose about 2.5% during the past week but were unable to cross key psychological levels due to mixed exchange-traded fund (ETF) flows and crypto investor sentiment sinking to record lows.

Bitcoin ETFs started the week with two consecutive days of inflows, but they quickly reversed with $276 million in outflows on Wednesday and $410 million on Thursday.

Ether ETFs saw similar flows, with two modest days of inflows, followed by $129 million in outflows on Wednesday and $113 million on Thursday, according to Farside Investors data.

In a silver lining to the correction, Bitcoin’s sharp drawdown to $59,930 may have marked a critical “halfway point” in the current bear market, as markets are now sitting at a critical inflection point that will determine the relevance of the four-year cycle theory, according to Kaiko Research.

Despite sliding crypto valuations, large institutions continue exploring cryptocurrency adoption, including the world’s largest asset manager, BlackRock, which announced its first foray into decentralized finance (DeFi) on Wednesday.

Bitcoin ETF inflows, in USD million. Source: Farside Investors

BlackRock enters DeFi, taps Uniswap for institutional token trading

Asset management giant BlackRock is making its first formal move into decentralized finance by bringing its tokenized US Treasury fund to Uniswap, marking a milestone moment for institutional adoption of DeFi.

According to a Wednesday announcement, BlackRock’s USD Institutional Digital Liquidity Fund (BUIDL) will be listed on the Uniswap decentralized exchange, allowing institutional investors to buy and sell the tokenized security. 

As part of the arrangement, BlackRock is also purchasing an undisclosed amount of Uniswap’s native governance token, UNI, the announcement said.

The collaboration is being facilitated by tokenization company Securitize, which partnered with the world’s biggest asset manager on the launch of BUIDL.

According to Fortune, trading will initially be limited to a select group of eligible institutional investors and market makers before expanding more broadly.

“For the first time, institutions and whitelisted investors can access technology from a leader in the decentralized finance space to trade tokenized real-world assets like BUIDL with self-custody,” said Securitize CEO Carlos Domingo.

Source: Securitize

BUIDL is the biggest tokenized money market fund, with more than $2.18 billion in total assets, according to data compiled by RWA.xyz. The fund is issued across multiple blockchains, including Ethereum, Solana, BNB Chain, Aptos and Avalanche. 

In December, BUIDL reached a key milestone, surpassing $100 million in cumulative distributions from its Treasury holdings.

BlackRock’s BUIDL metrics. Source: RWA.xyz

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Trump family’s WLFI plans FX and remittance platform: Report

World Liberty Financial (WLFI), a decentralized finance (DeFi) platform backed by the family of US President Donald Trump, announced on Thursday that it will launch foreign currency exchange (FX) and remittance services for its users.

The planned foreign exchange and remittance platform, called World Swap, seeks to challenge traditional remittance and FX service providers with lower fees and a simplified user interface, according to Reuters.

Daily global FX trading volume surpassed $9.6 trillion in April 2025, according to a report from the Bank for International Settlements (BIS), and the personal remittances market topped $892 billion in annual volume in 2024, according to data from the World Bank.

Annual remittances volume from 1970 to 2024. Source: World Bank

No exact timeline was given for the rollout. Cointelegraph reached out to World Liberty Financial but did not receive a response by the time of publication.

The expansion into FX and remittances follows WLFI's application for a national trust bank charter in January and the launch of World Liberty Markets, a lending platform, as WLFI continues to grow while attracting scrutiny from Democratic lawmakers in the US.

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Uniswap scores early win as US judge dismisses Bancor patent suit

A New York federal judge dismissed a patent infringement lawsuit brought by Bancor-affiliated entities against Uniswap, ruling that the asserted patents claim abstract ideas and are not eligible for protection under US patent law.

In a memorandum opinion and order on Tuesday, Judge John G. Koeltl of the US District Court for the Southern District of New York granted the defendant’s motion to dismiss the complaint filed by Bprotocol Foundation and LocalCoin Ltd. against Universal Navigation Inc. and the Uniswap Foundation. 

The court found that the patents are directed to the abstract idea of calculating crypto exchange rates and therefore fail the two-step test for patent eligibility established by the US Supreme Court. 

The ruling marks a procedural win for Uniswap, but it is not final. The case was dismissed without prejudice, giving the plaintiffs 21 days to file an amended complaint. If no amended complaint is filed, the dismissal will convert to one with prejudice.

Shortly after the ruling, Uniswap founder Hayden Adams wrote on X, “A lawyer just told me we won.”

“Uniswap Labs has always been proud to build in public — it’s a core value of DeFi,” a Uniswap Labs spokesperson told Cointelegraph. “We’re pleased that the court recognized that this lawsuit was meritless.”

Source: Hayden Adams

Cointelegraph reached out to representatives of Bprotocol Foundation for comment but had not received a response by publication.

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Binance completes $1 billion Bitcoin conversion for SAFU emergency fund

Binance completed the $1 billion Bitcoin conversion for its emergency fund, committing to holding Bitcoin as its core reserve asset.

Binance purchased another $304 million worth of Bitcoin (BTC) on Thursday, completing the conversion of $1 billion in Bitcoin for its Secure Asset Fund for Users (SAFU) wallet, according to Arkham data.

The fund now holds 15,000 Bitcoin, worth over $1 billion, acquired at an average aggregate cost basis of $67,000 per coin, Binance said in a Thursday X post.

 “With SAFU Fund now fully in Bitcoin, we reinforce our belief in BTC as the premier long-term reserve asset.”

The last tranche of BTC came three days after Binance’s previous $300 million acquisition on Monday.

Binance SAFU Fund wallet. Source: Arkham

The exchange first announced it would convert its $1 billion user protection fund into Bitcoin on Jan. 30, initially pledging a 30-day window for the acquisitions, which were completed in less than two weeks.

The exchange said it would rebalance the fund if volatility pushes its value below $800 million.

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Vitalik draws line between “real DeFi” and centralized yield stablecoins

Ethereum co-founder Vitalik Buterin drew a clear boundary around what he considers “real” decentralized finance (DeFi), pushing back against yield-driven stablecoin strategies that he says fail to meaningfully transform risk. 

In a discussion on X, Buterin said that DeFi derives its value from changing how risk is allocated and managed, not simply from generating yield on centralized assets. 

Buterin’s comments come amid renewed scrutiny over DeFi’s dominant use cases, particularly in lending markets built around fiat-backed stablecoins like USDC (USDC). 

While he did not name specific protocols, Buterin took aim at what he described as “USDC yield” products, saying they depend heavily on centralized issuers while offering little reduction in issuer or counterparty risk.

Source: Vitalik Buterin

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DeFi market overview

According to data from Cointelegraph Markets Pro and TradingView, most of the 100 largest cryptocurrencies by market capitalization ended the week in the green.

The Pippin (PIPPIN) token rose 195% as the week’s biggest gainer in the top 100, followed by the Humanity Protocol (H) token, up 57% during the past week.

Total value locked in DeFi. Source: DefiLlama

Thanks for reading our summary of this week’s most impactful DeFi developments. Join us next Friday for more stories, insights and education regarding this dynamically advancing space.

Anchorage Digital has partnered with Kamino and Solana Company to roll out a structure that allows institutions to borrow against staked Solana without moving assets out of regulated custody, potentially addressing a key friction between traditional finance and decentralized lending markets.

In a Friday announcement, Anchorage said the initiative expands its Atlas collateral management platform by integrating with Kamino, a Solana-based decentralized lending protocol.

The effort is being carried out in collaboration with Solana Company, a publicly traded Solana (SOL) treasury created in partnership with Pantera Capital and Summer Capital. 

Under the structure, institutions can use natively staked SOL as collateral for onchain borrowing while the assets remain held at Anchorage Digital Bank, a federally chartered crypto bank. That means investors can continue earning staking rewards while accessing liquidity through Kamino’s lending markets.

Anchorage acts as collateral manager, overseeing loan-to-value ratios, margin requirements and, if necessary, liquidations. Because the collateral remains in segregated custody, institutions do not need to move assets into smart contracts, a requirement that has historically limited participation by regulated entities.

Solana Company is the second-largest SOL-based digital asset treasury, holding 2.3 million SOL. Source: CoinGecko

Related: Solana treasuries sitting on over $1.5B in paper SOL losses

DeFi legislation hangs in the balance

The integration between Anchorage Digital, Kamino and Solana Company underscores growing institutional interest in decentralized finance. However, that momentum is unfolding against an uncertain regulatory backdrop in the United States, where lawmakers are still debating how to oversee digital assets and DeFi platforms.

At the center of the debate is the proposed CLARITY Act, which aims to establish clearer jurisdictional boundaries and regulatory standards for digital assets, including DeFi protocols. 

While the bill is intended to reduce uncertainty for market participants, some DeFi advocates argue that it falls short of addressing how decentralized protocols, developers and governance structures should be treated under the law.

Source: Yahoo Finance

Industry groups have raised concerns that earlier draft language, including amendments introduced in January, does not sufficiently distinguish between centralized intermediaries and decentralized systems.

Amid the deadlock over the CLARITY Act’s future, the Trump administration convened a meeting with industry representatives earlier this month to break the impasse and gather feedback on outstanding provisions related to DeFi oversight and market structure.

Related: Who gets the yield? CLARITY Act becomes fight over onchain dollars

Bitcoin (BTC) charged above $69,000 on Friday as US CPI data showed cooling inflation, leading traders to hope for a short-term BTC price recovery.

Key takeaways:

Traders favor a short-term BTC price relief rally, but bulls must first take out the resistance at $68,000 to $70,000. 

Bitcoin market analysis forecasts a short squeeze toward $80,000 if bulls succeed in confirming the $65,000 level as support.

BTC/USD 1-hour chart. Source: Cointelegraph/TradingView

Bitcoin price must take out resistance at $68,000

Bitcoin attempted a breakout on Thursday but “got slammed back down at the $68K level,” said analyst Daan Crypto Trades in a Friday post on X, adding:

“That's the area to watch if BTC wants to see another leg up at some point.”

An accompanying chart showed the BTC/USD pair consolidating within a falling wedge in the one-hour time frame. 

Related: Bitcoin ETFs bleed $410M as Standard Chartered slashes BTC target

The pattern projected a short-term rally to $72,000 once the price breaks above the wedge’s upper trendline at $68,000.

BTC/USD 1-hour chart. Source: Daan Crypto Trades

Fellow Ted Pillows said that the “chances of a deeper correction would increase” if the $65,000-$66,000 support does not hold.

 “To the upside, if Bitcoin reclaims the $70,000 level, it could rally 8%-10% really quickly.”

BTC/USD two-day chart. Source: Ted Pillows

From a technical perspective, BTC’s price action has been forming a V-shaped recovery chart pattern on the four-hour chart, as shown below.

The BTC/USD pair is retesting a key area of resistance defined by the 20-period EMA at $67,500 and the 200-week exponential moving average (EMA) at $68,000. 

Bulls need to push the price above this level to increase the chance of a rally to the pattern’s neckline at $72,000.

BTC/USD four-hour chart. Source: Cointelegraph/TradingView

As Cointelegraph reported, if Bitcoin breaks $72,000, it will revive the hopes of a recovery toward the 20-day EMA at $76,000 and eventually, the 50-day simple moving average above $85,000, bringing the total gains to 26%.

Liquidation risk builds near $80,000

Exchange order-book liquidity data from CoinGlass showed Bitcoin’s price pinned below two walls of asks centered just below $75,000 and around $80,000.

“$BTC liquidations are stacking well above $72K, and around the area from $77K to $80K,” Bitcoin analyst ZordXBT said in his latest post on X.

Below the spot price, bid orders were lying down to $64,500, “where I have my limit orders placed,” the analyst said, adding:

“If the market holds itself here, it can very easily eat those liquidity bubbles.” 

Bitcoin liquidation heatmap. Source: CoinGlass

The chart above suggests that if the $72,000-$75,000 level is broken, it could spark a liquidation squeeze, forcing short sellers to close positions and driving prices toward $80,000, which is the next major liquidity cluster.

Zooming in, Ted Pillows highlighted significant bid clusters at $65,000 and ask orders around $68,000, saying that the price is likely to revisit these areas to wipe out the liquidity.

“I think a revisit of $65,000 and a pump to $68,000 will both happen soon.”

Bitcoin exchange liquidation map. Source: CoinGlass

Passing the CLARITY crypto structure bill could improve market sentiment amid the ongoing downturn, according to United States Treasury Secretary Scott Bessent.

The stalling of the CLARITY bill over concerns voiced by crypto industry executives has negatively impacted the industry, Bessent told CNBC on Friday. He said:

“In a time when we are having one of these historically volatile sell-offs, I think some clarity on the CLARITY bill would give great comfort to the market, and we could move forward from there. 

I think if the Democrats were to take the House, which is far from my best case, then the prospects of getting a deal done will just fall apart,” Bessent continued.

Bessent discusses the importance of passing the CLARITY crypto market structure bill ahead of the 2026 US midterm elections. Source: CNBC

He said that getting the bill passed “as soon as possible” and sent to US President Donald Trump for signature by spring, which occurs between late March and late June in the US, is important, given the potential shift in the balance of power in the 2026 midterm elections. 

Related: White House officials met with crypto, banking reps to discuss stablecoins

The 2026 midterm elections could throw a wrench in Trump’s crypto agenda

The balance of power typically shifts in US midterm election years, Joe Doll, the former general counsel at non-fungible token (NFT) marketplace Magic Eden, told Cointelegraph.

“President Trump has a two-year unimpeded mandate that can be weakened greatly in the 2026 mid-term elections and reversed in the 2028 elections,” economist Ray Dalio said in January.

This potential political shift could reverse the Trump administration’s pro-crypto policies, if they are not codified into law, Dalio warned.

The Republican Party holds a slim four-seat majority in the US House of Representatives, with 218 seats compared to 214 seats held by the Democratic Party, according to data from the US House.

Polymarket 2026 US midterm election odds. Source: Polymarket

47% of traders on the prediction market Polymarket project that power will be split in the 2026 midterms, with each political party taking control of one chamber of Congress.

The Polymarket odds of a full sweep by the Democratic Party, meaning they claim a majority in both chambers, is 37% at the time of this writing.

Magazine: Crypto wanted to overthrow banks, now it’s becoming them in stablecoin fight

Bitcoin (BTC) is approaching “undervalued” territory for the first time in three years as a classic indicator nears its inflection point.

Key points:

Bitcoin has not been so “undervalued” versus its market cap since March 2023, research shows.

The MVRV ratio is approaching its key breakeven level for the first time in over three years.

MVRV analysis sees Bitcoin in the process of reversing its downtrend.

Bitcoin value metric echoes $20,000 price

Research from onchain analytics platform CryptoQuant released on Friday reveals key developments on Bitcoin’s market value to realized value (MVRV) ratio metric.

A classic BTC price gauge, the MVRV ratio compares Bitcoin’s market cap to the price at which the supply last moved, also known as its “realized cap.”

Values below 1 imply that the supply is undervalued at current prices. Last week, as BTC/USD dropped below $60,000, MVRV hit 1.13 — its lowest reading since March 2023, when it traded at just $20,000.

“Following its all-time high in October 2025, Bitcoin has been in a downtrend for approximately four months and is now approaching what can be considered an undervalued zone,” CryptoQuant contributor Crypto Dan commented. 

“Generally, when the MVRV ratio falls below 1, Bitcoin is regarded as undervalued. At present, the indicator stands at around 1.1, suggesting that price levels are nearing the undervaluation range.”

Bitcoin MVRV ratio (screenshot). Source: CryptoQuant

MVRV last registered below 1 at the start of 2023. At the time of Bitcoin’s latest all-time high last October, the ratio peaked at 2.28.

Crypto Dan questioned the validity of Bitcoin’s 52% drop from all-time highs. Neither the top nor the bottom, he argued, was characteristic of typical MVRV behavior.

“However, unlike previous cycles, Bitcoin did not experience a sharp rise into a clearly overvalued zone during the recent bull cycle,” the research post continued. 

“This distinction is important to recognize. As a result, the current decline may also differ from past market bottoms, and it appears necessary to respond with this possibility in mind.”

Bitcoin MVRV ratio. Source: CryptoQuant

Bitcoin price bottom “being forged right now”

In January, Cointelegraph reported on early signs that BTC price action may be preparing a trend reversal.

On two-year rolling time frames, the Z-score of the MVRV ratio, which divides its readings by the standard deviation of market cap, recently fell to historic lows.

“The current Z-Score of $BTC is lower than during the bear market bottom in 2015, 2018, COVID crash 2020 and 2022,” crypto trader, analyst and entrepreneur Michaël van de Poppe observed at the time.

This week, CryptoQuant contributor GugaOnChain used another Z-score iteration to show that BTC/USD was in a "capitulation zone.”

“The indicator suggests that we are approaching the historical accumulation phase,” he wrote in an accompanying post. 

“The statistical deviation of the Z-Score screams opportunity, signaling that the bottom of this downtrend is being forged right now.”

Bitcoin MVRV adaptive Z-score data (screenshot). Source: CryptoQuant

Bitcoin (BTC) gained at Friday’s Wall Street open as a fresh US inflation surprise boosted the mood.

Key points:

Bitcoin price action heads toward key resistance after US CPI inflation data cools beyond expectations.

Crypto becomes a standout on the day as macro assets see a cool reaction to slowing inflation.

Traders stay wary on overall BTC price strength.

Bitcoin spikes on soft January CPI data

Data from TradingView showed up to 4% daily BTC price gains at the time of writing, with BTC/USD reaching $69,190 on Bitstamp.

BTC/USD one-hour chart. Source: Cointelegraph/TradingView

The renewed upside came after the January print of the US Consumer Price Index (CPI) fell short of expectations.

As confirmed by the Bureau of Labor Statistics (BLS), core CPI matched estimates of 2.5%, while the broader reading was 2.4% — 0.1% lower than anticipated.

US CPI 12-month % change. Source: BLS

Reacting, trading resource The Kobeissi Letter noted that CPI inflation was now at multiyear lows.

“Core CPI inflation is now at its lowest level since March 2021,” it wrote in a post on X. 

“Odds of further interest rate cuts are back on the rise.”

Fed target rate probabilities for March FOMC meeting (screenshot). Source: CME Group

Kobeissi referred to the prospects of the Federal Reserve cutting interest rates at its next meeting in March. As Cointelegraph reported, market expectations of such an outcome were previously at rock bottom, not helped by strong labor-market performance.

After the CPI release, odds of a minimal 0.25% cut remained at less than 10%, per data from CME Group’s FedWatch Tool.

Continuing, Andre Dragosch, European head of research at crypto asset manager Bitwise, argued that when viewed through the lens of Truflation, an alternative inflation meter, the CPI drop was “not really a surprise.”

📌RE: CPI Release

Not really a surprise there if you have been following the @truflation CPI number which has plummeted sub-1% already...

IYKYK pic.twitter.com/GPEUqaSNZI

— André Dragosch, PhD⚡ (@Andre_Dragosch) February 13, 2026

Elsewhere on macro, gold attempted to reclaim the $5,000 per ounce mark, while the US dollar index (DXY) sought a recovery after an initial CPI drop to 96.8.

US stocks, on the other hand, failed to copy Bitcoin’s enthusiasm, trading modestly down on the day at the time of writing.

Analyst eyes current range for BTC price higher low

Considering the outlook for BTC price action, market participants had little reason to alter their cautious positions.

“$BTC Still consolidating in this falling wedge,” trader Daan Crypto Trades wrote in his latest X update. 

“Attempted a break out yesterday but got slammed back down at the $68K level. That's the area to watch if this wants to see another leg up at some point.”

BTC/USDT perpetual contract one-hour chart. Source: Daan Crypto Trades/X

Earlier, Cointelegraph reported on the significance of the $68,000-$69,000 zone, which plays host to both the old 2021 all-time high and Bitcoin’s 200-week exponential moving average (EMA).

“Whether you like it or not: Bitcoin remains to be in an area where I think that we'll see a higher low come in,” crypto trader, analyst and entrepreneur Michaël van de Poppe predicted in his own forecast. 

“It's fragile, for sure, but it doesn't mean that we're not going to be seeing some momentum coming in from the markets.”

BTC/USDT 12-hour chart. Source: Michaël van de Poppe/X

Opinion by: Fraser Edwards, co-founder of Cheqd

Governments are quietly racing to redefine identity documents for the digital era.

China enacted new legislation called the National Network Identity Authentication, commonly referred to as internet ID. Citizens receive a unique digital ID code from real name and face scans. The system is designed to link online activity to verified real-world identities across participating platforms, according to publicly available descriptions of the pilot. As of May 2025, around six million people had already enrolled during the pilot phase.

Bhutan has a blockchain-based national identity for its 800,000 citizens. The infrastructure that determines how people prove their identity is being rebuilt from the ground up.

Many are choosing between the rollout of centralized digital identity systems and those based on blockchain technology.

How these systems are designed will determine whether they empower citizens or extend state control.

The promise and the pitfalls

Digital identity sits at the intersection of privacy, security and control. At its best, it can simplify life by eliminating repetitive checks, reducing fraud and giving individuals control over their personal data. At its worst, it can become the connective tissue of a global monitoring system, linking every financial transaction, online interaction and movement to a permanent record.

Digital identity is neither intrinsically virtuous nor nefarious. Its outcome, however, depends on the principles that shape it. Built well, it can restore trust, transparency and security across digital life.

Built poorly, it risks placing every aspect of identity, movement and behavior under permanent observation.

The technology to build either outcome already exists. Blockchain and cryptographic proofs can make identity portable, verifiable and private. If centralized models prevail, where data is stored, queried and monitored by a single authority, however, the same systems could hard-code surveillance into everyday life. The real contest is not over whether digital ID arrives, but which version of it the world adopts.

Centralized models create single points of failure. One breach or policy shift can simultaneously expose or restrict millions of people. When everything from financial access to travel depends on a single database, identity itself becomes a potential lever of control.

Some identity systems already include background “phone home” functions that report when and where credentials are used. While often designed for analytics or fraud prevention, this capability introduces the technical potential for surveillance. Once that switch exists, experience shows it rarely stays off for long. This does not mean its solution should be abandoned; rather, it should be built with privacy and security in mind.

Digital identity around the world

Countries that have implemented national digital identity systems reveal both the benefits and the risks associated with them.

Estonia, often cited as a digital pioneer, illustrates both the promise and the danger of a centralized digital ID. In 2017, it had to revoke nearly 1 million digital ID “cards” after cybersecurity experts found vulnerabilities in the cryptography. Despite that failure, the same system has enabled citizens to file taxes in minutes, sign contracts remotely and access almost all public services online.

Switzerland offers a different path. Its first national identity proposal was rejected in a 2021 referendum. Support grew after a redesigned model was introduced, featuring clearer safeguards. The difference was trust — its new e-ID is voluntary and stores data on users’ own devices rather than government servers, in software that only shares the necessary information and can be audited independently.

India’s Aadhaar program illustrates the scale and risks associated with a system that becomes unavoidable. With near-universal penetration, it has shifted how millions access welfare, healthcare and finance, and was praised for reducing fraud by $10 billion. But it has also faced repeated breaches that have compromised the personal details of more than 1.1 billion people, according to WEF reports, and has been criticized as a form of "digital coercion" due to citizens’ dependency on this ID to access essential services.

The global pattern is consistent. Digital identity is not inherently harmful nor beneficial; its influence and power comes from its architecture. Centralized models, even successful ones, carry the inherent risk of misuse. Decentralized control creates systems that can empower citizens instead of monitoring them.

Decentralized identity as the way forward

Bhutan shows how digital identity can work differently in practice. The country has become one of the first to implement a public blockchain for its national ID system, utilizing Decentralized Identifiers (DIDs) on Ethereum, which enables citizens to hold and control their own credentials.

Instead of a single central database, verification occurs through cryptographic proofs that confirm only the necessary information without exposing it. By distributing control across a network of participants, decentralization reduces reliance on the good faith of a single operator deciding unilaterally how identity is used.

A 15-hour Amazon Web Services outage that halted Coinbase, Robinhood and MetaMask brought the issue of centralized servers to the surface.

At the core of this approach are DIDs and Self-Sovereign Identity (SSI). Allowing individuals to store their own credentials from a digital wallet, deciding what to share and when, without storing all their personal data into one silo or honeypot. For example, a user can prove they are over 18 using their driving license without disclosing their address or demonstrate their right to work without sharing every passport detail.

Zero-knowledge proofs can further extend this by allowing facts to be verified mathematically without sharing the underlying details or data, providing a simple “yes” or “no” response to verification requests. Together, forming a decentralized framework for digital identity that works on a global scale while still keeping privacy and control in your hands.

The architecture of freedom

Every digital identity system reflects who holds power and who defines trust.

Adding decentralization to the mix can make it more complicated. You have to wonder who actually controls the data and who holds accountability. This can become especially tricky in a brand-new industry of decentralized groups.

Yet the advantages remain clear. Distributed systems remove single points of failure, return control to individuals and build transparency through shared verification rather than enforced trust. Offering a model where digital identity strengthens security and trust without reducing citizens to data points.

Digital identity is inevitable. The question is not whether it arrives, but which model prevails. Centralized systems, no matter how carefully built, will always carry the looming risk of misuse. Decentralized identity offers a way forward that enhances both privacy and practicality, embedding freedom into the infrastructure of trust.

Opinion by: Fraser Edwards, co-founder of Cheqd.

This opinion article presents the contributor’s expert view and it may not reflect the views of Cointelegraph.com. This content has undergone editorial review to ensure clarity and relevance, Cointelegraph remains committed to transparent reporting and upholding the highest standards of journalism. Readers are encouraged to conduct their own research before taking any actions related to the company.