🇺🇸👀 #macro USA (Jan):
- S&P Composite PMI: 53 (prior: 52.7)
- S&P Services PMI: 52.7 (prior: 52.5)
- ISM Services PMI: 53.8 (prior: 54.4)
- S&P Composite PMI: 53 (prior: 52.7)
- S&P Services PMI: 52.7 (prior: 52.5)
- ISM Services PMI: 53.8 (prior: 54.4)
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💸 K33's Vetle Lunde noted that #BTC is down approximately 40% from its October high, with an 11% decline last week. This trend echoes the bearish cycles of 2018 and 2022, raising concerns about the market cycle. Lunde stated that an 80% drawdown is unlikely this time due to institutional adoption, inflows, easing rates, and the absence of major deleveraging crises.
On February 2, the market saw over $8 billion in spot volume, with $1.8 billion in long positions liquidated, indicating extreme negative funding. While these factors suggest potential bottom signals, they remain inconclusive. Support is at $74K, and a break could risk a drop to $69K or $58K, which aligns with the 200-week moving average. link
On February 2, the market saw over $8 billion in spot volume, with $1.8 billion in long positions liquidated, indicating extreme negative funding. While these factors suggest potential bottom signals, they remain inconclusive. Support is at $74K, and a break could risk a drop to $69K or $58K, which aligns with the 200-week moving average. link
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🔮 The odds that Bitcoin and crypto market structure legislation gets signed into law this year surge to over 70% according to Polymarket. #regulation
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🏦 Spain's second-largest bank BBVA, with $800 billion in assets, has joined the Qivalis group, which now includes 12 major EU banks such as BNP Paribas, ING, and UniCredit. The group aims to launch a regulated euro stablecoin to challenge the dominance of dollar stablecoins. Qivalis is applying to the Dutch central bank for electronic money institution authorization under the MiCA framework, with the token planned for launch in the second half of 2026. #stablecoin link
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🕵️ Bitcoin has dropped below Strategy's cost basis, currently showing a ~$1.5B loss.
Will they sell?
In 2022–2023, Strategy's $BTC holdings were in the red for over 500 days.
They sold 704 $BTC only once on December 22, 2022, and quickly bought back 810 $BTC afterward.
Aside from that, they've been strictly buy-and-hold.
Will they sell?
In 2022–2023, Strategy's $BTC holdings were in the red for over 500 days.
They sold 704 $BTC only once on December 22, 2022, and quickly bought back 810 $BTC afterward.
Aside from that, they've been strictly buy-and-hold.
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🗽 Treasury Secretary Bessent says tariffs do not cause inflation. #macro
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🕵️ 1,519.46 #BTC ($111,587,654)
aggregated inflows to Coinbase Pro link
aggregated inflows to Coinbase Pro link
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📊😱 Sentiment has turned extremely bearish toward #BTC and #ETH following crypto's major downswing this past week. #XRP is seeing a more optimistic outlook among traders.
As we know, markets move opposite to the fear & greed of retail traders. There remains a strong argument for a short-term relief rally as long as the small trader crowd continue to show disbelief toward cryptocurrency as a whole.
As we know, markets move opposite to the fear & greed of retail traders. There remains a strong argument for a short-term relief rally as long as the small trader crowd continue to show disbelief toward cryptocurrency as a whole.
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