Tom Lee says when the bull market will begin
Fundstrat managing partner Tom Lee expects the crypto market to start rising soon.
According to him, this could happen once the rally in gold and silver takes a pause.
At the moment, investors are experiencing FOMO and prefer to move into precious metals rather than crypto assets.
Fundstrat managing partner Tom Lee expects the crypto market to start rising soon.
According to him, this could happen once the rally in gold and silver takes a pause.
At the moment, investors are experiencing FOMO and prefer to move into precious metals rather than crypto assets.
📊 Bitcoin Closes January in the Red
Bitcoin finished January negative, marking four consecutive red months — a pattern seen only twice in BTC history (2014 and 2018). 👀
Historically, a red January was always followed by a green February. However, hopes are fading this time: BTC is already down over 4% in February, briefly dropping below $75,000 overnight before rebounding to around $76.5K. 📉
Despite the bounce, the bearish trend remains clear, and market sentiment stays fragile.
Bitcoin finished January negative, marking four consecutive red months — a pattern seen only twice in BTC history (2014 and 2018). 👀
Historically, a red January was always followed by a green February. However, hopes are fading this time: BTC is already down over 4% in February, briefly dropping below $75,000 overnight before rebounding to around $76.5K. 📉
Despite the bounce, the bearish trend remains clear, and market sentiment stays fragile.
Amid elevated volatility, capitulation indicators continue to point to persistent pressure, with Bitcoin’s relative unrealized losses rising to 24%.
This level is above typical bull–bear transition zones but remains below historical capitulation extremes.
As a result, the market appears to be in an active capitulation phase, though a final bottom has not yet been confirmed.
Bitcoin is currently trading near $69,300, while large wallets holding 10–100 BTC continue to accumulate on the dip.
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📊 Bitcoin slips out of the Top 10 assets 👀
📉 Bitcoin has dropped out of the world’s top 10 most valuable assets and is now valued below Tesla, once infamous for heavy losses.
It’s a sharp contrast to recent peaks and a reminder of how fast rankings can change in risk-off markets. While BTC cools down, traditional equities are briefly taking the spotlight again.
Markets rotate — narratives follow. The leaderboard never stays the same for long. 📉➡️
📉 Bitcoin has dropped out of the world’s top 10 most valuable assets and is now valued below Tesla, once infamous for heavy losses.
It’s a sharp contrast to recent peaks and a reminder of how fast rankings can change in risk-off markets. While BTC cools down, traditional equities are briefly taking the spotlight again.
Markets rotate — narratives follow. The leaderboard never stays the same for long. 📉➡️
The crypto industry is preparing for a major influence in the 2026 midterm elections through Political Action Committees (PACs) such as Fairshake, which is the main super PAC supported by crypto companies. Fairshake and its affiliates (such as Protect Progress for Democrats and Defend American Jobs for Republicans) have raised more than $193 million for this campaign, making it one of the largest political forces in the technology sector.
This funding comes from large contributions from companies like Coinbase ($25 million), Ripple Labs ($25 million), and Andreessen Horowitz (a16z) ($24 million). The main goal is to support pro-crypto candidates and replace legislators considered anti-crypto, to ensure regulations that support the industry such as the CLARITY Act (which is still pending) and the GENIUS Act (which has already been passed).
This funding comes from large contributions from companies like Coinbase ($25 million), Ripple Labs ($25 million), and Andreessen Horowitz (a16z) ($24 million). The main goal is to support pro-crypto candidates and replace legislators considered anti-crypto, to ensure regulations that support the industry such as the CLARITY Act (which is still pending) and the GENIUS Act (which has already been passed).
Fed recognizes power of prediction markets
A Federal Reserve study found that the Kalshi prediction market may reflect expectations for inflation, GDP, and Fed rate decisions faster and more accurately than traditional surveys.
Kalshi contracts allow real-time assessment of the probabilities of FOMC decisions and enable tracking of intraday market reactions to news.
A Federal Reserve study found that the Kalshi prediction market may reflect expectations for inflation, GDP, and Fed rate decisions faster and more accurately than traditional surveys.
Kalshi contracts allow real-time assessment of the probabilities of FOMC decisions and enable tracking of intraday market reactions to news.
📉 TeraWulf reports weaker results amid mining downturn
The US-based mining company posted worse-than-expected results for the fourth quarter of 2025. The loss came in at $1.66 per share, while revenue declined due to falling bitcoin mining income.
However, the company is betting on AI and data center expansion, with $12.8 billion in contracts already signed.
The US-based mining company posted worse-than-expected results for the fourth quarter of 2025. The loss came in at $1.66 per share, while revenue declined due to falling bitcoin mining income.
However, the company is betting on AI and data center expansion, with $12.8 billion in contracts already signed.
Bitcoin still in a bearish phase?
According to analysts at CryptoQuant, BTC may still be in a bear market despite the recent rebound.
Their Bull Score Index currently sits at 10/100, which is deep in bearish territory. Historically, the market only enters a clear bullish phase when this indicator rises above 60.
In other words, the recent price recovery might be just a temporary bounce rather than the start of a new bull run.
For now, on-chain data suggests the broader market structure remains cautious, and stronger signals are needed before Bitcoin can confidently shift back into a bull trend.
According to analysts at CryptoQuant, BTC may still be in a bear market despite the recent rebound.
Their Bull Score Index currently sits at 10/100, which is deep in bearish territory. Historically, the market only enters a clear bullish phase when this indicator rises above 60.
In other words, the recent price recovery might be just a temporary bounce rather than the start of a new bull run.
For now, on-chain data suggests the broader market structure remains cautious, and stronger signals are needed before Bitcoin can confidently shift back into a bull trend.
Curve accuses PancakeSwap of copying code
DeFi platform Curve Finance has claimed that the DEX PancakeSwap is using its code without proper licensing.
The copied code is allegedly related to the “StableSwap” function used in the latest version of PancakeSwap Infinity for stablecoin swaps.
After Curve Finance stated that safely integrating the code requires deep expertise and cited examples of past exploits, PancakeSwap said it is open to discussing licensing issues.
DeFi platform Curve Finance has claimed that the DEX PancakeSwap is using its code without proper licensing.
The copied code is allegedly related to the “StableSwap” function used in the latest version of PancakeSwap Infinity for stablecoin swaps.
After Curve Finance stated that safely integrating the code requires deep expertise and cited examples of past exploits, PancakeSwap said it is open to discussing licensing issues.
Ethereum Foundation sells 5,000 ETH OTC
The Ethereum Foundation announced it sold 5,000 ETH (~$10.2M) to Bitmine via an over-the-counter (OTC) deal at an average price of $2,042.96 per ETH.
According to the foundation, the funds will be used to support its core operations, including:
• Protocol research and development
• Ecosystem growth
• Community grants
• Other initiatives that support the Ethereum network
OTC sales allow large transactions to be completed without directly impacting exchange markets, helping avoid sudden price volatility while securing funding for long-term development.
The Ethereum Foundation announced it sold 5,000 ETH (~$10.2M) to Bitmine via an over-the-counter (OTC) deal at an average price of $2,042.96 per ETH.
According to the foundation, the funds will be used to support its core operations, including:
• Protocol research and development
• Ecosystem growth
• Community grants
• Other initiatives that support the Ethereum network
OTC sales allow large transactions to be completed without directly impacting exchange markets, helping avoid sudden price volatility while securing funding for long-term development.
Investors sue Gemini over strategic shift
Gemini investors have filed a class action lawsuit, accusing the company of a sharp post-IPO strategic pivot and misleading disclosures. Shares have fallen more than 80% following the move into prediction markets (“Gemini 2.0”).
The plaintiffs claim the company was positioned as a growing crypto exchange focused on international expansion, but later changed course, reduced staff, and exited several markets.
The lawsuit could set a precedent for the broader crypto industry, increasing disclosure requirements and limiting abrupt strategic shifts after companies go public.
Gemini investors have filed a class action lawsuit, accusing the company of a sharp post-IPO strategic pivot and misleading disclosures. Shares have fallen more than 80% following the move into prediction markets (“Gemini 2.0”).
The plaintiffs claim the company was positioned as a growing crypto exchange focused on international expansion, but later changed course, reduced staff, and exited several markets.
The lawsuit could set a precedent for the broader crypto industry, increasing disclosure requirements and limiting abrupt strategic shifts after companies go public.
Morgan Stanley to launch Bitcoin ETF soon
Morgan Stanley could launch a spot Bitcoin ETF any day now, according to Bloomberg analyst Eric Balchunas.
Less than a week ago, the company filed an updated S-1 registration statement with the SEC.
According to the filing, the Morgan Stanley Bitcoin Trust will trade on NYSE Arca under the ticker MSBT.
Morgan Stanley could launch a spot Bitcoin ETF any day now, according to Bloomberg analyst Eric Balchunas.
Less than a week ago, the company filed an updated S-1 registration statement with the SEC.
According to the filing, the Morgan Stanley Bitcoin Trust will trade on NYSE Arca under the ticker MSBT.
🟠 Michael Saylor hints at new BTC purchases
Strategy founder Michael Saylor posted “₿back to Work” on X, after which the market once again started talking about bullish signals for Bitcoin.
Last week, Strategy did not report any purchases. Earlier, the company bought 1,031 BTC on March 23, 22,337 BTC on March 16, and 17,994 BTC on March 9.
Strategy founder Michael Saylor posted “₿back to Work” on X, after which the market once again started talking about bullish signals for Bitcoin.
Last week, Strategy did not report any purchases. Earlier, the company bought 1,031 BTC on March 23, 22,337 BTC on March 16, and 17,994 BTC on March 9.
💰 Smart money keeps stacking BTC
Yesterday, Strategy added 13,927 BTC worth $1B at $71,902 — continuing aggressive accumulation.
🤩 Meanwhile, Nigel Farage bought £2M in BTC for the Stack BTC fund — the first public BTC purchase by an active UK MP. As leader of Reform UK, he’s also pushing against PM Keir Starmer.
💶 Capital B added 37 BTC (€2.3M), bringing total holdings to 2,925 BTC.
📈 Key insight: ~850,000 BTC (over 9% of supply) was accumulated in the $60K–$70K range this year.
Behind every “sell” headline — there’s a buyer. And they’re not small.
Yesterday, Strategy added 13,927 BTC worth $1B at $71,902 — continuing aggressive accumulation.
🤩 Meanwhile, Nigel Farage bought £2M in BTC for the Stack BTC fund — the first public BTC purchase by an active UK MP. As leader of Reform UK, he’s also pushing against PM Keir Starmer.
💶 Capital B added 37 BTC (€2.3M), bringing total holdings to 2,925 BTC.
📈 Key insight: ~850,000 BTC (over 9% of supply) was accumulated in the $60K–$70K range this year.
Behind every “sell” headline — there’s a buyer. And they’re not small.
Drift receives funding from Tether
Drift Protocol said it has secured a funding package of up to $150 million: up to $127.5 million will come from Tether, while partners will contribute another up to $20 million.
The funds will be used to compensate users after the April hack, in which more than $270 million was stolen.
After the deal, Drift plans to relaunch the protocol with USDT as its settlement asset, replacing Circle USDC.
Drift Protocol said it has secured a funding package of up to $150 million: up to $127.5 million will come from Tether, while partners will contribute another up to $20 million.
The funds will be used to compensate users after the April hack, in which more than $270 million was stolen.
After the deal, Drift plans to relaunch the protocol with USDT as its settlement asset, replacing Circle USDC.
"Winning this award tells us that what we're building actually matters to miners – and that pushes us to go further. The plan for this year is straightforward: grow the infrastructure, add capacity, and use the current market conditions to close the gap with the leaders. It's a stretch goal. We're fine with that." – Andrei Kapeikin, CTO of Neopool
Neopool is a mining pool built from the ground up by veterans of the crypto and IT industries, with the team's combined experience spanning over 20 years.
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📊 Stablecoins are being used, not just held
🔎 a16z crypto compared adjusted monthly velocity of stablecoins to their total supply — and the ratio has jumped from 2.6x to 6x over the past 2 years.
💡 Meaning: demand for transactions is growing faster than new issuance.
This is a key signal of a real payment network — where the base asset isn’t just sitting idle, but actively circulating.
📈 Translation: stablecoins are evolving from “store of value” tools into full-fledged payment rails.
🔎 a16z crypto compared adjusted monthly velocity of stablecoins to their total supply — and the ratio has jumped from 2.6x to 6x over the past 2 years.
💡 Meaning: demand for transactions is growing faster than new issuance.
This is a key signal of a real payment network — where the base asset isn’t just sitting idle, but actively circulating.
📈 Translation: stablecoins are evolving from “store of value” tools into full-fledged payment rails.
In Q1 this year, companies bought 50,351 Bitcoin — the highest quarterly total on record.
Institutional accumulation is accelerating, with corporates continuing to add BTC to their balance sheets.
Big players are doubling down — reinforcing the long-term bullish case.
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Michael Burry says today’s market is starting to look a lot like the final stage of the 1999–2000 dot-com bubble
According to Burry, the market has become completely obsessed with AI, while stocks increasingly ignore economic data and continue rising simply because they were already going up before.
He compared the current rally in the semiconductor index SOX to the tech mania before the 2000 crash. The index is already up more than 65% in 2026 alone, including a 10% jump in just one week.
Macro investor Paul Tudor Jones agrees that the AI boom resembles 1999, but believes the rally could continue for another 1–2 years before a major correction hits.
His warning: if valuations keep expanding, the eventual sell-off could be “breathtaking.”
P.S. Michael Burry’s story inspired the movie “The Big Short.”
According to Burry, the market has become completely obsessed with AI, while stocks increasingly ignore economic data and continue rising simply because they were already going up before.
He compared the current rally in the semiconductor index SOX to the tech mania before the 2000 crash. The index is already up more than 65% in 2026 alone, including a 10% jump in just one week.
Macro investor Paul Tudor Jones agrees that the AI boom resembles 1999, but believes the rally could continue for another 1–2 years before a major correction hits.
His warning: if valuations keep expanding, the eventual sell-off could be “breathtaking.”
P.S. Michael Burry’s story inspired the movie “The Big Short.”