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JPMorgan: Bitcoin More Attractive Than Gold in the Long Term
In a recent report, JPMorgan noted that gold has outperformed Bitcoin since October, with gold also experiencing greater price volatility. As negative sentiment shifts, JPMorgan believes Bitcoin has the potential to be reevaluated as a hedge comparable to gold in risk scenarios.
Two reasons JPMorgan remains bullish amid a declining market:
1. Bitcoin has fallen below the breakeven point for miners, with the estimated cost to mine one BTC around $77,000. Many weaker miners are forced to shut down, but this is seen as a natural cleansing process rather than a signal of collapse.
2. Legal progress in the U.S. with the CLARITY Act will create a clear legal framework, encouraging institutional investment.
Head of Analysis Nikolaos Panigirtzoglou concluded, "We expect crypto inflows to continue increasing in 2026, this time led by institutional investors rather than retail."
In a recent report, JPMorgan noted that gold has outperformed Bitcoin since October, with gold also experiencing greater price volatility. As negative sentiment shifts, JPMorgan believes Bitcoin has the potential to be reevaluated as a hedge comparable to gold in risk scenarios.
Two reasons JPMorgan remains bullish amid a declining market:
1. Bitcoin has fallen below the breakeven point for miners, with the estimated cost to mine one BTC around $77,000. Many weaker miners are forced to shut down, but this is seen as a natural cleansing process rather than a signal of collapse.
2. Legal progress in the U.S. with the CLARITY Act will create a clear legal framework, encouraging institutional investment.
Head of Analysis Nikolaos Panigirtzoglou concluded, "We expect crypto inflows to continue increasing in 2026, this time led by institutional investors rather than retail."
Market Update - Friday, February 13
- Gold, U.S. stocks, and cryptocurrencies are all declining. Bitcoin $BTC has dropped to $66,000, and altcoins are struggling to recover.
- At 8:30 PM EST, the U.S. will release January CPI inflation data:
- Year-over-year CPI inflation (Forecast = 2.4%, Previous = 2.7%)
- Year-over-year Core CPI inflation (Forecast = 2.5%, Previous = 2.6%)
ETF Spot Update for February 12: No data available.
- The Federal Reserve proposes categorizing cryptocurrencies as a separate asset class for derivatives trading, citing high volatility and the need for increased margin requirements.
- The CFTC has established an Innovation Advisory Council focused on AI and blockchain, featuring leaders from Solana, Ripple, Coinbase, and Polymarket.
- Coinbase reported a Q4 2025 loss of $667 million, ending an eight-quarter streak of profitability as the crypto market declined.
- Binance's SAFU fund has completed a plan to transfer $1billion in stablecoins to Bitcoin, now holding 15,000 BTC.
- Ethzilla has tokenized Boeing aircraft engines on Ethereum, allowing investors to earn rental income through token purchases.
- Aave Labs is proposing an upgrade to V4, requesting $25 million in stablecoins and 75,000 AAVE from the DAO for development over the next year, promising to return 100% of revenue to the DAO.
- Gold, U.S. stocks, and cryptocurrencies are all declining. Bitcoin $BTC has dropped to $66,000, and altcoins are struggling to recover.
- At 8:30 PM EST, the U.S. will release January CPI inflation data:
- Year-over-year CPI inflation (Forecast = 2.4%, Previous = 2.7%)
- Year-over-year Core CPI inflation (Forecast = 2.5%, Previous = 2.6%)
ETF Spot Update for February 12: No data available.
- The Federal Reserve proposes categorizing cryptocurrencies as a separate asset class for derivatives trading, citing high volatility and the need for increased margin requirements.
- The CFTC has established an Innovation Advisory Council focused on AI and blockchain, featuring leaders from Solana, Ripple, Coinbase, and Polymarket.
- Coinbase reported a Q4 2025 loss of $667 million, ending an eight-quarter streak of profitability as the crypto market declined.
- Binance's SAFU fund has completed a plan to transfer $1billion in stablecoins to Bitcoin, now holding 15,000 BTC.
- Ethzilla has tokenized Boeing aircraft engines on Ethereum, allowing investors to earn rental income through token purchases.
- Aave Labs is proposing an upgrade to V4, requesting $25 million in stablecoins and 75,000 AAVE from the DAO for development over the next year, promising to return 100% of revenue to the DAO.
Market Update - Wednesday, February 11
- Bitcoin is trading between $68K and $69K, while altcoins are mostly in the red. The market sentiment index remains at 11, indicating "extreme fear."
- At 8:30 PM EST, the U.S. will release January Nonfarm Payroll data. The forecast for new jobs is 70K, up from 50K previously. The unemployment rate is expected to remain at 4.4%.
ETF Spot Update as of February 10:
- Bitcoin shows a gain of $140 million; BlackRock has not provided data.
- Ethereum shows a gain of $13.8 million; BlackRock has not provided data.
- Solana shows a gain of $7.7 million.
- The European Union has proposed a complete ban on crypto transactions with Russia to prevent sanctions evasion, requiring consensus from all 27 member states.
- The UK's FCA is suing the HTX exchange for illegal crypto advertising targeting UK users.
- Goldman Sachs has disclosed holding $2.36 billion in crypto through ETFs (BTC, ETH, XRP, SOL), representing 0.33% of its investment portfolio.
- Sam Bankman-Fried has filed for a retrial in the FTX case, citing new witness testimony, though the chances of success are considered low.
- Several key leaders have left the Worldcoin project, reportedly due to company culture and leadership issues.
- LayerZero has launched its Layer 1 "Zero" for Wall Street, with investments and advisory from major firms including Citadel, ICE, Cathie Wood, and Tether.
- Bitcoin is trading between $68K and $69K, while altcoins are mostly in the red. The market sentiment index remains at 11, indicating "extreme fear."
- At 8:30 PM EST, the U.S. will release January Nonfarm Payroll data. The forecast for new jobs is 70K, up from 50K previously. The unemployment rate is expected to remain at 4.4%.
ETF Spot Update as of February 10:
- Bitcoin shows a gain of $140 million; BlackRock has not provided data.
- Ethereum shows a gain of $13.8 million; BlackRock has not provided data.
- Solana shows a gain of $7.7 million.
- The European Union has proposed a complete ban on crypto transactions with Russia to prevent sanctions evasion, requiring consensus from all 27 member states.
- The UK's FCA is suing the HTX exchange for illegal crypto advertising targeting UK users.
- Goldman Sachs has disclosed holding $2.36 billion in crypto through ETFs (BTC, ETH, XRP, SOL), representing 0.33% of its investment portfolio.
- Sam Bankman-Fried has filed for a retrial in the FTX case, citing new witness testimony, though the chances of success are considered low.
- Several key leaders have left the Worldcoin project, reportedly due to company culture and leadership issues.
- LayerZero has launched its Layer 1 "Zero" for Wall Street, with investments and advisory from major firms including Citadel, ICE, Cathie Wood, and Tether.
U.S. stocks showed mixed results, with the Dow Jones reaching a new high, while the S&P 500 and Nasdaq both declined. Bitcoin remains range-bound below $70,000, and most altcoins are in the red.
In economic data, December retail sales disappointed, showing no growth at 0.0% compared to November, falling short of the expected 0.4% increase. This weak data slightly raised expectations for a Federal Reserve rate cut in March from 17.2% to around 20%.
Regarding tensions in Iran, former President Trump is considering deploying a second aircraft carrier if Iran does not cooperate in upcoming negotiations. The U.S. currently has about 10 warships in the Middle East, including the USS Abraham Lincoln.
In the crypto sector, a second meeting at the White House between crypto representatives and banks regarding stablecoin yield payments showed progress, although no final agreement has been reached. For the first time, banks are open to discussing an "exception" for transaction-based rewards, despite previous refusals.
Tonight at 8:30 PM (Vietnam time), the U.S. will release the January Non-farm payroll report. The forecast anticipates 70,000 new jobs in the non-farm sector for the first month of the year. The market currently expects the Fed to cut rates twice this year, each by 0.25%.
In economic data, December retail sales disappointed, showing no growth at 0.0% compared to November, falling short of the expected 0.4% increase. This weak data slightly raised expectations for a Federal Reserve rate cut in March from 17.2% to around 20%.
Regarding tensions in Iran, former President Trump is considering deploying a second aircraft carrier if Iran does not cooperate in upcoming negotiations. The U.S. currently has about 10 warships in the Middle East, including the USS Abraham Lincoln.
In the crypto sector, a second meeting at the White House between crypto representatives and banks regarding stablecoin yield payments showed progress, although no final agreement has been reached. For the first time, banks are open to discussing an "exception" for transaction-based rewards, despite previous refusals.
Tonight at 8:30 PM (Vietnam time), the U.S. will release the January Non-farm payroll report. The forecast anticipates 70,000 new jobs in the non-farm sector for the first month of the year. The market currently expects the Fed to cut rates twice this year, each by 0.25%.
Market Update for Tuesday, October 2
- U.S. stocks continue to rise, Bitcoin hovers around $70,000, while altcoins remain stagnant.
- At 8:30 PM ET, the U.S. will release December retail sales data:
- Retail Sales month-over-month (Forecast = 0.4%, Previous = 0.6%)
- Core Retail Sales month-over-month (Forecast = 0.4%, Previous = 0.5%)
ETF Spot Update for February 9
- Bitcoin is up $165.8 million, Grayscale Mini gained $130.5 million, BlackRock data is not yet available.
- Ethereum is up $102 million, BlackRock data is not yet available.
- Solana trading is balanced.
- Polymarket is suing the state of Massachusetts for banning its prediction market, claiming only the federal CFTC has regulatory authority.
- France warns crypto companies to obtain MiCA licenses by July 1, 2026, or cease operations.
- Jump Trading plans to acquire stakes in Kalshi and Polymarket in exchange for providing liquidity to both platforms.
- Crypto exchange Backpack is raising $50 million at a $1 billion valuation, claiming to have generated over $100 million in 2025.
Institutional Activity:
- Strategy has acquired an additional 1,142 BTC ($90 million), increasing total holdings to 714,644 BTC ($49 billion).
- Bitmine purchased an additional 40,000 ETH ($80 million) early this morning, matching last week's total.
- Binance's SAFU fund bought an additional 4,225 BTC ($300 million), reaching three-quarters of its $1 billion target.
- Bitcoin mining company Cango sold 4,451 BTC (~$305 million) to pay off debts and shift focus to AI, currently holding about 3,000 $BTC
- U.S. stocks continue to rise, Bitcoin hovers around $70,000, while altcoins remain stagnant.
- At 8:30 PM ET, the U.S. will release December retail sales data:
- Retail Sales month-over-month (Forecast = 0.4%, Previous = 0.6%)
- Core Retail Sales month-over-month (Forecast = 0.4%, Previous = 0.5%)
ETF Spot Update for February 9
- Bitcoin is up $165.8 million, Grayscale Mini gained $130.5 million, BlackRock data is not yet available.
- Ethereum is up $102 million, BlackRock data is not yet available.
- Solana trading is balanced.
- Polymarket is suing the state of Massachusetts for banning its prediction market, claiming only the federal CFTC has regulatory authority.
- France warns crypto companies to obtain MiCA licenses by July 1, 2026, or cease operations.
- Jump Trading plans to acquire stakes in Kalshi and Polymarket in exchange for providing liquidity to both platforms.
- Crypto exchange Backpack is raising $50 million at a $1 billion valuation, claiming to have generated over $100 million in 2025.
Institutional Activity:
- Strategy has acquired an additional 1,142 BTC ($90 million), increasing total holdings to 714,644 BTC ($49 billion).
- Bitmine purchased an additional 40,000 ETH ($80 million) early this morning, matching last week's total.
- Binance's SAFU fund bought an additional 4,225 BTC ($300 million), reaching three-quarters of its $1 billion target.
- Bitcoin mining company Cango sold 4,451 BTC (~$305 million) to pay off debts and shift focus to AI, currently holding about 3,000 $BTC
Market Update - Monday, February 9
- Bitcoin remains steady around $70,000, with altcoins showing similar trends. Market sentiment index has increased from 7 to 14.
- The White House will hold a second meeting with crypto and major banking representatives tomorrow to address issues related to the CLARITY Act.
- The CFTC is expanding regulations to allow national trust banks to issue USD stablecoins under the GENIUS Act framework.
- Illinois has proposed a community Bitcoin bill managed by the state, which will be stored in a multi-signature cold wallet.
- Michael Saylor revealed plans to acquire more Bitcoin this week. His strategy currently holds 713,502 BTC, valued at approximately $49.5 billion.
- An anonymous wallet transferred 2,565 BTC, worth around $181 million, to Satoshi Nakamoto's wallet two days ago, with the reason still unclear.
Event Calendar
- February 10, 20:30 UTC: US Retail Sales for December
- Retail Sales m/m (Forecast = 0.4%, Previous = 0.6%)
- Core Retail Sales m/m (Forecast = 0.4%, Previous = 0.5%)
- February 11, 20:30 UTC: US Nonfarm Employment Data for January
- Jobs Added (Forecast = 70K, Previous = 50K)
- Unemployment Rate (Forecast = 4.4%, Previous = 4.4%)
- February 13, 20:30 UTC: US CPI Inflation Data for January
- CPI Inflation Y/Y (Forecast = 2.4%, Previous = 2.7%)
- Core CPI Inflation Y/Y (Forecast = 2.5%, Previous = 2.6%)
Token Unlocks
- February 10: Aptos will unlock 11.31 million $APT (0.69% of circulating supply), valued at $12.09 million.
- February 11: Avalanche will unlock 1.67 million $AVAX (0.32% of circulating supply), valued at $15.15 million.
- February 15: Connex will unlock 1.32 million $CONX (1.56% of circulating supply), valued at $15.72 million.
- February 15: Starknet will unlock 127 million $STRK (4.61% of circulating supply), valued at $6.28 million.
- February 16: Arbitrum will unlock 92.65 million $ARB (1.82% of circulating supply), valued at $10.80 million.
- Bitcoin remains steady around $70,000, with altcoins showing similar trends. Market sentiment index has increased from 7 to 14.
- The White House will hold a second meeting with crypto and major banking representatives tomorrow to address issues related to the CLARITY Act.
- The CFTC is expanding regulations to allow national trust banks to issue USD stablecoins under the GENIUS Act framework.
- Illinois has proposed a community Bitcoin bill managed by the state, which will be stored in a multi-signature cold wallet.
- Michael Saylor revealed plans to acquire more Bitcoin this week. His strategy currently holds 713,502 BTC, valued at approximately $49.5 billion.
- An anonymous wallet transferred 2,565 BTC, worth around $181 million, to Satoshi Nakamoto's wallet two days ago, with the reason still unclear.
Event Calendar
- February 10, 20:30 UTC: US Retail Sales for December
- Retail Sales m/m (Forecast = 0.4%, Previous = 0.6%)
- Core Retail Sales m/m (Forecast = 0.4%, Previous = 0.5%)
- February 11, 20:30 UTC: US Nonfarm Employment Data for January
- Jobs Added (Forecast = 70K, Previous = 50K)
- Unemployment Rate (Forecast = 4.4%, Previous = 4.4%)
- February 13, 20:30 UTC: US CPI Inflation Data for January
- CPI Inflation Y/Y (Forecast = 2.4%, Previous = 2.7%)
- Core CPI Inflation Y/Y (Forecast = 2.5%, Previous = 2.6%)
Token Unlocks
- February 10: Aptos will unlock 11.31 million $APT (0.69% of circulating supply), valued at $12.09 million.
- February 11: Avalanche will unlock 1.67 million $AVAX (0.32% of circulating supply), valued at $15.15 million.
- February 15: Connex will unlock 1.32 million $CONX (1.56% of circulating supply), valued at $15.72 million.
- February 15: Starknet will unlock 127 million $STRK (4.61% of circulating supply), valued at $6.28 million.
- February 16: Arbitrum will unlock 92.65 million $ARB (1.82% of circulating supply), valued at $10.80 million.
The crypto market is currently experiencing a severe downturn
The crypto market is currently experiencing a severe downturn, often referred to as the "crypto winter" of 2026. Bitcoin has dropped nearly 50% from its peak in October 2025, falling from around $126,000 to approximately $60,000–$64,000. The total market capitalization has decreased by about $2 trillion.
Key reasons for this decline as of February 6, 2026, include:
- Global risk-off sentiment: Investors are selling off high-risk assets, including tech stocks and cryptocurrencies. This has led to significant declines in the Nasdaq and technology stocks.
- Bitcoin's status as "digital gold" is in question: While gold prices have surged as a hedge against inflation and crisis, Bitcoin has plummeted, undermining its narrative as a safe store of value.
- Forced deleveraging and liquidation cascade: Hundreds of millions to billions of dollars in leveraged positions have been liquidated, particularly in the past week, creating a domino effect of sell-offs.
- Significant ETF outflows: Spot Bitcoin ETFs have seen substantial capital withdrawals, totaling hundreds of millions to nearly $1 billion in just a few days, indicating a reversal in institutional investor sentiment.
- Hawkish Federal Reserve and poor macroeconomic conditions: Expectations for interest rates to remain high, weak employment data, and a strengthening dollar have led to capital flowing out of risk assets.
- Erosion of long-term confidence: After years of hype surrounding crypto, including support from figures like Trump and institutional adoption, the lack of clear organic use cases has led many to view crypto as a speculative bubble, resulting in panic selling.
- Warnings from prominent figures: Michael Burry and other influential voices have cautioned about a potential "death spiral" for companies holding Bitcoin, further deteriorating market sentiment.
Current conditions are described by some sources, including Bloomberg and CNN, as the "worst crypto winter ever," due to not only the steep price declines but also a significant loss of core confidence in the market.
Key reasons for this decline as of February 6, 2026, include:
- Global risk-off sentiment: Investors are selling off high-risk assets, including tech stocks and cryptocurrencies. This has led to significant declines in the Nasdaq and technology stocks.
- Bitcoin's status as "digital gold" is in question: While gold prices have surged as a hedge against inflation and crisis, Bitcoin has plummeted, undermining its narrative as a safe store of value.
- Forced deleveraging and liquidation cascade: Hundreds of millions to billions of dollars in leveraged positions have been liquidated, particularly in the past week, creating a domino effect of sell-offs.
- Significant ETF outflows: Spot Bitcoin ETFs have seen substantial capital withdrawals, totaling hundreds of millions to nearly $1 billion in just a few days, indicating a reversal in institutional investor sentiment.
- Hawkish Federal Reserve and poor macroeconomic conditions: Expectations for interest rates to remain high, weak employment data, and a strengthening dollar have led to capital flowing out of risk assets.
- Erosion of long-term confidence: After years of hype surrounding crypto, including support from figures like Trump and institutional adoption, the lack of clear organic use cases has led many to view crypto as a speculative bubble, resulting in panic selling.
- Warnings from prominent figures: Michael Burry and other influential voices have cautioned about a potential "death spiral" for companies holding Bitcoin, further deteriorating market sentiment.
Current conditions are described by some sources, including Bloomberg and CNN, as the "worst crypto winter ever," due to not only the steep price declines but also a significant loss of core confidence in the market.
Market Update - Thursday, February 5
- Gold fluctuates around $5,000, while Bitcoin $BTC continues to decline, trading between $72,000 and $73,000. Market sentiment index hits a low of 12, indicating "extreme fear."
- U.S. and Iran nuclear negotiations have been revived and are scheduled to take place tomorrow morning, February 6, in Oman.
- Former President Trump spoke with President Xi, discussing trade and geopolitical issues, with a visit to China planned for April.
ETF Spot Update as of February 4:
- Bitcoin shows a negative balance of $171.5 million, with Fidelity selling $86.4 million. BlackRock has no data available.
- Ethereum has a negative balance of $20.5 million, with no data from BlackRock.
- Solana shows a negative balance of $6.7 million.
- Crypto companies are proposing to deposit stablecoin reserves at smaller banks and support them in issuing stablecoins to resolve the CLARITY bill deadlock.
- The UK is holding hearings on stablecoins, with experts criticizing them as merely an entry and exit point for crypto, rather than a future currency.
- Spain's second-largest bank, BBVA, joins a coalition of 12 major EU banks to develop a euro stablecoin, expected to launch in the second half of 2026.
- The U.S. Treasury Secretary clarified that there is no plan for the government to bail out Bitcoin or the crypto market in the event of a collapse.
- CME Group is considering launching "CME Coin" and is collaborating with Google to develop tokenized cash by the end of this year.
- Japanese financial giant SBI is partnering with Startale to launch Layer1 Strium for forex trading, tokenized stocks, and real-world assets.
- Trend Research continues to transfer 25,000 ETH ($53 million) to Binance, bringing the total transferred to 188,588 $ETH ($427 million) to repay debts.
- TRM Labs, a crypto crime tracking firm, has raised $70 million in Series C funding from Goldman Sachs, Citi Ventures, and others, achieving a valuation of $1 billion.
- Gold fluctuates around $5,000, while Bitcoin $BTC continues to decline, trading between $72,000 and $73,000. Market sentiment index hits a low of 12, indicating "extreme fear."
- U.S. and Iran nuclear negotiations have been revived and are scheduled to take place tomorrow morning, February 6, in Oman.
- Former President Trump spoke with President Xi, discussing trade and geopolitical issues, with a visit to China planned for April.
ETF Spot Update as of February 4:
- Bitcoin shows a negative balance of $171.5 million, with Fidelity selling $86.4 million. BlackRock has no data available.
- Ethereum has a negative balance of $20.5 million, with no data from BlackRock.
- Solana shows a negative balance of $6.7 million.
- Crypto companies are proposing to deposit stablecoin reserves at smaller banks and support them in issuing stablecoins to resolve the CLARITY bill deadlock.
- The UK is holding hearings on stablecoins, with experts criticizing them as merely an entry and exit point for crypto, rather than a future currency.
- Spain's second-largest bank, BBVA, joins a coalition of 12 major EU banks to develop a euro stablecoin, expected to launch in the second half of 2026.
- The U.S. Treasury Secretary clarified that there is no plan for the government to bail out Bitcoin or the crypto market in the event of a collapse.
- CME Group is considering launching "CME Coin" and is collaborating with Google to develop tokenized cash by the end of this year.
- Japanese financial giant SBI is partnering with Startale to launch Layer1 Strium for forex trading, tokenized stocks, and real-world assets.
- Trend Research continues to transfer 25,000 ETH ($53 million) to Binance, bringing the total transferred to 188,588 $ETH ($427 million) to repay debts.
- TRM Labs, a crypto crime tracking firm, has raised $70 million in Series C funding from Goldman Sachs, Citi Ventures, and others, achieving a valuation of $1 billion.
Market Update for Wednesday, February 4
- Gold has regained the $5,000 mark. Bitcoin is fluctuating between $73,000 and $76,000. The market sentiment index remains low at 14, indicating "extreme fear."
- U.S.-Iran tensions are escalating. President Trump has signed a budget bill, ending a four-day government shutdown.
- At 8:15 PM tonight, the ADP employment report for January will be released, with forecasts at 46,000, up from 41,000 previously.
ETF Spot Update for February 3
- Bitcoin is down $332 million, with Fidelity selling $148.7 million. BlackRock has no data available.
- Ethereum is down $28.9 million, with no data from BlackRock.
- Solana is up $0.9 million.
- White House crypto advisor Patrick Witt opposes including anti-Trump provisions in the CLARITY Act.
- The Nevada state regulator is suing Coinbase for offering unlicensed sports betting.
- Vitalik Buterin acknowledges that the original vision for Layer 2 solutions is no longer relevant and advises that L2s need to find new purposes.
- Y Combinator, a top startup incubator in Silicon Valley, is offering approximately $500,000 in USDC funding for startups.
- MetaMask has partnered with Ondo to tokenize U.S. stocks, ETFs, and commodities on Ethereum, allowing swaps with USDC directly in the wallet.
- Crypto.com has launched a prediction market app in the U.S., regulated by the CFTC, aiming to be the first prediction platform with margin trading.
- Aave DAO has proposed freezing V3 on zkSync, Metis, and Soneium. New chains wishing to deploy must commit to a minimum revenue of $2 million per year.
- Holders of $AXS can receive an airdrop of the new token bAXS by staking 10 $AXS before February 5. bAXS cannot be traded and is only usable in-game.
- Gold has regained the $5,000 mark. Bitcoin is fluctuating between $73,000 and $76,000. The market sentiment index remains low at 14, indicating "extreme fear."
- U.S.-Iran tensions are escalating. President Trump has signed a budget bill, ending a four-day government shutdown.
- At 8:15 PM tonight, the ADP employment report for January will be released, with forecasts at 46,000, up from 41,000 previously.
ETF Spot Update for February 3
- Bitcoin is down $332 million, with Fidelity selling $148.7 million. BlackRock has no data available.
- Ethereum is down $28.9 million, with no data from BlackRock.
- Solana is up $0.9 million.
- White House crypto advisor Patrick Witt opposes including anti-Trump provisions in the CLARITY Act.
- The Nevada state regulator is suing Coinbase for offering unlicensed sports betting.
- Vitalik Buterin acknowledges that the original vision for Layer 2 solutions is no longer relevant and advises that L2s need to find new purposes.
- Y Combinator, a top startup incubator in Silicon Valley, is offering approximately $500,000 in USDC funding for startups.
- MetaMask has partnered with Ondo to tokenize U.S. stocks, ETFs, and commodities on Ethereum, allowing swaps with USDC directly in the wallet.
- Crypto.com has launched a prediction market app in the U.S., regulated by the CFTC, aiming to be the first prediction platform with margin trading.
- Aave DAO has proposed freezing V3 on zkSync, Metis, and Soneium. New chains wishing to deploy must commit to a minimum revenue of $2 million per year.
- Holders of $AXS can receive an airdrop of the new token bAXS by staking 10 $AXS before February 5. bAXS cannot be traded and is only usable in-game.
Bitcoin $BTC dropped to $72,900, its lowest point since November 2024, when Trump was elected, before rebounding over 5% to $76,800. Ethereum fell to $2,110 and then recovered to $2,340.
This sharp V-shaped decline resulted in over $740 million in liquidations within the last 24 hours, primarily affecting long positions.
US-Iran Tensions Escalate
- The US military confirmed it shot down an Iranian Shahed-139 drone for aggressively approaching the USS Abraham Lincoln aircraft carrier in the Arabian Sea. This incident occurred while both sides were attempting to arrange nuclear negotiations.
- According to Axios, US-Iran talks are scheduled for February 6, but Tehran has requested a change of venue to Oman, and the US must withdraw its warships before negotiations can proceed.
US Government Reopens
- President Trump signed a budget bill, ending a partial government shutdown that began on January 31.
- Funding is secured for most federal government operations through the end of the fiscal year (September 30, 2026), including a temporary two-week extension for the Department of Homeland Security to continue immigration policy negotiations.
This sharp V-shaped decline resulted in over $740 million in liquidations within the last 24 hours, primarily affecting long positions.
US-Iran Tensions Escalate
- The US military confirmed it shot down an Iranian Shahed-139 drone for aggressively approaching the USS Abraham Lincoln aircraft carrier in the Arabian Sea. This incident occurred while both sides were attempting to arrange nuclear negotiations.
- According to Axios, US-Iran talks are scheduled for February 6, but Tehran has requested a change of venue to Oman, and the US must withdraw its warships before negotiations can proceed.
US Government Reopens
- President Trump signed a budget bill, ending a partial government shutdown that began on January 31.
- Funding is secured for most federal government operations through the end of the fiscal year (September 30, 2026), including a temporary two-week extension for the Department of Homeland Security to continue immigration policy negotiations.
Market Update for Tuesday, February 3
- Gold has regained the $4,800 mark, while Bitcoin is trading between $78,000 and $79,000. Altcoins are showing slight movement as Bitcoin dominance surpasses 60%.
- The Trump administration has reduced tariffs on India from 25% to 18% due to India's halt on oil purchases from Russia and a commitment to buy American goods.
- The U.S. Nonfarm Payroll report for January, scheduled for February 6, has been postponed due to the partial government shutdown, as the House has not yet passed the necessary legislation.
ETF Spot Update from February 2
- Bitcoin is up by $132.3 million; BlackRock has not yet provided data.
- No data available for Ethereum or Solana.
- The White House is in discussions with Coinbase, the crypto association, and banks regarding stablecoin interest rate regulations, but consensus has not been reached.
- South Korea is upgrading its AI system to monitor the crypto market for automatic detection of price manipulation.
- Cboe, the leading U.S. options exchange, plans to reintroduce binary options for investors, competing with Kalshi and Polymarket.
- Ripple has received a crypto organization license (EMI) in Luxembourg, allowing it to expand its payment and digital asset services across the EU.
- Hyperliquid is adding a prediction market feature on HyperCore through HIP-4, currently being tested on the testnet.
- Last week, a strategy accumulated 855 BTC ($75 million), increasing total holdings to 713,502 BTC ($56 billion).
- Bitmine acquired an additional 41,788 ETH ($96 million) last week, with CEO Tom Lee remaining optimistic about Ethereum's future.
- Gold has regained the $4,800 mark, while Bitcoin is trading between $78,000 and $79,000. Altcoins are showing slight movement as Bitcoin dominance surpasses 60%.
- The Trump administration has reduced tariffs on India from 25% to 18% due to India's halt on oil purchases from Russia and a commitment to buy American goods.
- The U.S. Nonfarm Payroll report for January, scheduled for February 6, has been postponed due to the partial government shutdown, as the House has not yet passed the necessary legislation.
ETF Spot Update from February 2
- Bitcoin is up by $132.3 million; BlackRock has not yet provided data.
- No data available for Ethereum or Solana.
- The White House is in discussions with Coinbase, the crypto association, and banks regarding stablecoin interest rate regulations, but consensus has not been reached.
- South Korea is upgrading its AI system to monitor the crypto market for automatic detection of price manipulation.
- Cboe, the leading U.S. options exchange, plans to reintroduce binary options for investors, competing with Kalshi and Polymarket.
- Ripple has received a crypto organization license (EMI) in Luxembourg, allowing it to expand its payment and digital asset services across the EU.
- Hyperliquid is adding a prediction market feature on HyperCore through HIP-4, currently being tested on the testnet.
- Last week, a strategy accumulated 855 BTC ($75 million), increasing total holdings to 713,502 BTC ($56 billion).
- Bitmine acquired an additional 41,788 ETH ($96 million) last week, with CEO Tom Lee remaining optimistic about Ethereum's future.
Latest Update on the CLARITY Bill Following White House Meeting
A two-hour meeting led by White House crypto advisor Patrick Witt focused on a key issue: whether stablecoins can pay interest to users and if third parties like Coinbase can facilitate this.
No consensus was reached:
- The crypto representatives argue that banks are stalling and have not proposed any compromise.
- The banking representatives stated they are acting on behalf of their association and need to consult member banks before negotiations.
The White House has urged both sides to narrow the negotiating group and return to the table with a willingness to compromise by the end of this month.
The CLARITY bill has passed the House and cleared the Senate Agriculture Committee last week. The next step is the Senate Banking Committee.
Time is running out. With the midterm election campaign starting in March, all legislation must be passed before then. The longer the process takes, the lower the chances of passing CLARITY this year.
A two-hour meeting led by White House crypto advisor Patrick Witt focused on a key issue: whether stablecoins can pay interest to users and if third parties like Coinbase can facilitate this.
No consensus was reached:
- The crypto representatives argue that banks are stalling and have not proposed any compromise.
- The banking representatives stated they are acting on behalf of their association and need to consult member banks before negotiations.
The White House has urged both sides to narrow the negotiating group and return to the table with a willingness to compromise by the end of this month.
The CLARITY bill has passed the House and cleared the Senate Agriculture Committee last week. The next step is the Senate Banking Committee.
Time is running out. With the midterm election campaign starting in March, all legislation must be passed before then. The longer the process takes, the lower the chances of passing CLARITY this year.
Market Update - February 2
- The entire market is down, with Bitcoin (BTC) closing January at a -10% loss. The market sentiment index has dropped to 14, indicating "extreme fear."
- The U.S. is prepared to negotiate with Iran through various channels. Turkey, Qatar, and Egypt are arranging a meeting in Ankara this week.
- Michael Saylor has revealed plans to continue accumulating BTC this week. BTC is currently approaching the average purchase price of Strategy at $76,037.
- The Wall Street Journal reports that a UAE company quietly spent $500 million to acquire 49% of the Trump Organization's WLFI project just before the former president took office.
- Japan's top financial firm, Nomura, has reduced its crypto subsidiary's position due to Q3 losses but maintains a long-term outlook.
- SoSoValue has launched the SoDEX exchange on its own blockchain, accompanied by airdrop program of 150 million $SOSO tokens.
Upcoming Events:
- February 4, 20:15: ADP private sector employment report for January (forecast: 48K, previous: 41K).
- February 5: The Bank of England (BOE) and the European Central Bank (ECB) are expected to keep interest rates unchanged.
- February 6, 20:30: Nonfarm payroll data for January.
- Job additions (forecast: 67K, previous: 50K).
- Unemployment rate (forecast: 4.4%, previous: 4.4%).
Token Unlocks:
- February 5: XDC Network will unlock 841.2 million $XDC (5% of circulating supply), valued at $29 million.
- February 5: Ethena will unlock 171.8 million $ENA (2.31% of circulating supply), valued at $23.5 million.
- February 6: Hyperliquid will unlock 9.92 million $HYPE (2.79% of circulating supply), valued at $304.8 million.
- February 6: Berachain will unlock 63.75 million $BERA (41.7% of circulating supply), valued at $29.4 million.
- February 10: Aptos will unlock 11.31 million $APT (0.69% of circulating supply), valued at $14 million.
- The entire market is down, with Bitcoin (BTC) closing January at a -10% loss. The market sentiment index has dropped to 14, indicating "extreme fear."
- The U.S. is prepared to negotiate with Iran through various channels. Turkey, Qatar, and Egypt are arranging a meeting in Ankara this week.
- Michael Saylor has revealed plans to continue accumulating BTC this week. BTC is currently approaching the average purchase price of Strategy at $76,037.
- The Wall Street Journal reports that a UAE company quietly spent $500 million to acquire 49% of the Trump Organization's WLFI project just before the former president took office.
- Japan's top financial firm, Nomura, has reduced its crypto subsidiary's position due to Q3 losses but maintains a long-term outlook.
- SoSoValue has launched the SoDEX exchange on its own blockchain, accompanied by airdrop program of 150 million $SOSO tokens.
Upcoming Events:
- February 4, 20:15: ADP private sector employment report for January (forecast: 48K, previous: 41K).
- February 5: The Bank of England (BOE) and the European Central Bank (ECB) are expected to keep interest rates unchanged.
- February 6, 20:30: Nonfarm payroll data for January.
- Job additions (forecast: 67K, previous: 50K).
- Unemployment rate (forecast: 4.4%, previous: 4.4%).
Token Unlocks:
- February 5: XDC Network will unlock 841.2 million $XDC (5% of circulating supply), valued at $29 million.
- February 5: Ethena will unlock 171.8 million $ENA (2.31% of circulating supply), valued at $23.5 million.
- February 6: Hyperliquid will unlock 9.92 million $HYPE (2.79% of circulating supply), valued at $304.8 million.
- February 6: Berachain will unlock 63.75 million $BERA (41.7% of circulating supply), valued at $29.4 million.
- February 10: Aptos will unlock 11.31 million $APT (0.69% of circulating supply), valued at $14 million.
I told him to sell his gold for the altcoin season in 2025, and now he's looking for me.
Market Update - Saturday, January 31
- Gold and silver prices are cooling down, while Bitcoin has risen to $84,000. Altcoins remain stagnant as Bitcoin dominance increases to 59.7%.
- The U.S. Congress has reached a budget agreement to reopen the government, but partial shutdown will continue until February 2 for a House vote.
- U.S. Producer Price Index (PPI) for December increased by 3%, exceeding the forecast of 2.7%. Inflation is expected to decrease to 3% in 2025, down from 3.5% in 2024.
ETF Spot Update as of January 30:
- Bitcoin is up by $15.6 million; BlackRock has not provided data.
- Ethereum is down by $95.7 million; BlackRock has not provided data.
- Solana is down by $1.2 million.
- Donald Trump has officially nominated Kevin Warsh for the next term as Federal Reserve Chair.
- The European Union has notified 12 member states for non-compliance with crypto tax reporting regulations, giving them two months to rectify the situation.
- Polymarket has been banned in Vietnam, classified as gambling. Users attempting to access the platform will be recorded and penalized.
- Nubank, the leading digital bank in Latin America, has received approval to open a branch in the U.S. and plans to offer crypto custody services.
- Tether reported a net profit of over $10 billion for 2025, holding $122billion in U.S. bonds, $17.4
- Gold and silver prices are cooling down, while Bitcoin has risen to $84,000. Altcoins remain stagnant as Bitcoin dominance increases to 59.7%.
- The U.S. Congress has reached a budget agreement to reopen the government, but partial shutdown will continue until February 2 for a House vote.
- U.S. Producer Price Index (PPI) for December increased by 3%, exceeding the forecast of 2.7%. Inflation is expected to decrease to 3% in 2025, down from 3.5% in 2024.
ETF Spot Update as of January 30:
- Bitcoin is up by $15.6 million; BlackRock has not provided data.
- Ethereum is down by $95.7 million; BlackRock has not provided data.
- Solana is down by $1.2 million.
- Donald Trump has officially nominated Kevin Warsh for the next term as Federal Reserve Chair.
- The European Union has notified 12 member states for non-compliance with crypto tax reporting regulations, giving them two months to rectify the situation.
- Polymarket has been banned in Vietnam, classified as gambling. Users attempting to access the platform will be recorded and penalized.
- Nubank, the leading digital bank in Latin America, has received approval to open a branch in the U.S. and plans to offer crypto custody services.
- Tether reported a net profit of over $10 billion for 2025, holding $122billion in U.S. bonds, $17.4
1. Who is Kevin Warsh?
- Leading candidate for the FED Chair: As of January 2026, he has a 95% chance of becoming the next FED Chair and has reportedly met with President Trump at the White House.
- Extensive experience: He was the youngest person to serve as a FED Governor at age 35, has worked at Morgan Stanley, and served as an economic advisor to President Bush.
- Powerful connections: He is the son-in-law of the Estée Lauder family. His father-in-law is a close friend and major donor to Trump, giving him an advantage in accessing power.
2. Economic Views & Monetary Policy (If in power)
- Hawk or Dove?: Historically, he has been a "hawk," prioritizing inflation control and resigning in opposition to quantitative easing. Recently, he has shifted to support interest rate cuts, aligning with Trump’s preferences.
- "Paradoxical" strategy: He believes inflation is caused by excessive money supply from the FED. He proposes a unique approach: cutting interest rates while simultaneously shrinking the balance sheet (removing money from the system).
- Loss of independence?: Warsh wants the FED to work closely with the Treasury and consult the President on interest rates, moving away from its previous independent stance.
3. Impact on the Crypto Market
- Positive aspect: He has previously invested in crypto projects and views Bitcoin as a "sustainable store of value, similar to gold." His support for low interest rates is also favorable for capital inflow into crypto.
- Negative aspect (Risk): He is skeptical about Bitcoin as a payment method, considering it "software." Most concerning, Warsh supports the development of a central bank digital currency (CBDC), which contradicts Trump’s anti-CBDC stance and could compete with stablecoins.
4. Important Timeline
- May 2026: Jerome Powell's term ends, and the new FED Chair will take office.
- Second half of 2026: The new policies from the incoming Chair will significantly impact market capital flows.
- Leading candidate for the FED Chair: As of January 2026, he has a 95% chance of becoming the next FED Chair and has reportedly met with President Trump at the White House.
- Extensive experience: He was the youngest person to serve as a FED Governor at age 35, has worked at Morgan Stanley, and served as an economic advisor to President Bush.
- Powerful connections: He is the son-in-law of the Estée Lauder family. His father-in-law is a close friend and major donor to Trump, giving him an advantage in accessing power.
2. Economic Views & Monetary Policy (If in power)
- Hawk or Dove?: Historically, he has been a "hawk," prioritizing inflation control and resigning in opposition to quantitative easing. Recently, he has shifted to support interest rate cuts, aligning with Trump’s preferences.
- "Paradoxical" strategy: He believes inflation is caused by excessive money supply from the FED. He proposes a unique approach: cutting interest rates while simultaneously shrinking the balance sheet (removing money from the system).
- Loss of independence?: Warsh wants the FED to work closely with the Treasury and consult the President on interest rates, moving away from its previous independent stance.
3. Impact on the Crypto Market
- Positive aspect: He has previously invested in crypto projects and views Bitcoin as a "sustainable store of value, similar to gold." His support for low interest rates is also favorable for capital inflow into crypto.
- Negative aspect (Risk): He is skeptical about Bitcoin as a payment method, considering it "software." Most concerning, Warsh supports the development of a central bank digital currency (CBDC), which contradicts Trump’s anti-CBDC stance and could compete with stablecoins.
4. Important Timeline
- May 2026: Jerome Powell's term ends, and the new FED Chair will take office.
- Second half of 2026: The new policies from the incoming Chair will significantly impact market capital flows.
Market Update - Friday, January 30
- Bitcoin continues to decline, now at $81,000, with over $1.75 billion liquidated in the past 24 hours.
- Former President Trump will announce the new Fed Chair, with Kevin Warsh's odds rising to 94%.
- The U.S. will release December PPI inflation data at 8:30 PM tonight:
- Year-over-year PPI inflation (Forecast = 2.9%, Previous = 3%)
- Year-over-year Core PPI inflation (Forecast = 3%, Previous = 3%)
ETF Spot Update as of January 29:
- Bitcoin is down $500 million, with Fidelity selling $168 million; BlackRock has no data available.
- Ethereum is down $100.8 million; BlackRock has no data available.
- Solana is down $2.2 million.
- Trump signed a tax order targeting any country selling oil to Cuba, aimed at Russia, Mexico, Venezuela, and others.
- The U.S. Senate Agriculture Committee narrowly approved a bill to structure the crypto market with a 12-11 vote.
- The new CFTC Chair has withdrawn the proposal to ban prediction markets under Biden and will develop new regulations for this sector.
- The U.S. Department of Justice seized over $400 million from Helix, a mixer service that laundered approximately 354,000 BTC from drug sales between 2014 and 2017.
- Kazakhstan plans to allocate seized crypto into its national reserve fund, having invested $350 million in foreign currency and gold into this fund.
- An Ethereum OG has reactivated 70,500 ETH (valued at $200 million) that was dormant since the 2016 DAO hack, generating approximately $8 million per year in staking rewards.
- Andre Cronje's Flying Tulip has raised an additional $75.5 million at a $1 billion valuation, bringing total funding to $225.5 million.
- Bitcoin continues to decline, now at $81,000, with over $1.75 billion liquidated in the past 24 hours.
- Former President Trump will announce the new Fed Chair, with Kevin Warsh's odds rising to 94%.
- The U.S. will release December PPI inflation data at 8:30 PM tonight:
- Year-over-year PPI inflation (Forecast = 2.9%, Previous = 3%)
- Year-over-year Core PPI inflation (Forecast = 3%, Previous = 3%)
ETF Spot Update as of January 29:
- Bitcoin is down $500 million, with Fidelity selling $168 million; BlackRock has no data available.
- Ethereum is down $100.8 million; BlackRock has no data available.
- Solana is down $2.2 million.
- Trump signed a tax order targeting any country selling oil to Cuba, aimed at Russia, Mexico, Venezuela, and others.
- The U.S. Senate Agriculture Committee narrowly approved a bill to structure the crypto market with a 12-11 vote.
- The new CFTC Chair has withdrawn the proposal to ban prediction markets under Biden and will develop new regulations for this sector.
- The U.S. Department of Justice seized over $400 million from Helix, a mixer service that laundered approximately 354,000 BTC from drug sales between 2014 and 2017.
- Kazakhstan plans to allocate seized crypto into its national reserve fund, having invested $350 million in foreign currency and gold into this fund.
- An Ethereum OG has reactivated 70,500 ETH (valued at $200 million) that was dormant since the 2016 DAO hack, generating approximately $8 million per year in staking rewards.
- Andre Cronje's Flying Tulip has raised an additional $75.5 million at a $1 billion valuation, bringing total funding to $225.5 million.
Breaking: Trump has just confirmed he will announce Jerome Powell's replacement tomorrow morning.
The race has narrowed to two candidates: Kevin Warsh and Rick Rieder (CEO of BlackRock). Sources indicate that Warsh is currently favored.
Today, Trump met with both candidates at the White House before making his final decision.
The race has narrowed to two candidates: Kevin Warsh and Rick Rieder (CEO of BlackRock). Sources indicate that Warsh is currently favored.
Today, Trump met with both candidates at the White House before making his final decision.
Market Update - Thursday, January 29
- Gold continues to rise above $5,500, while Bitcoin remains in a sideways range between $88,000 and $89,000. Altcoins are also stagnant.
- The Federal Reserve has maintained interest rates after three consecutive cuts of 0.25%. They noted that inflation remains high and unemployment rates are stabilizing.
- Former President Trump has sent a naval fleet to Iran, aiming to initiate negotiations on nuclear weapons.
ETF Spot Update as of January 28
- No new data available.
- The White House will hold a closed meeting with banking and crypto leaders on February 2 to address the stablecoin interest payment impasse in the CLARITY bill.
- The SEC and CFTC chairpersons will meet publicly at 2 AM tomorrow (Vietnam time) to discuss crypto regulatory coordination.
- The SEC has categorized tokenized securities into two types: self-issued (like traditional securities) and third-party issued (subject to stricter regulations).
- Fidelity has launched the FIDD stablecoin on Ethereum, compliant with the GENIUS Act for operations in the U.S.
- The $WLD token surged 40% following rumors of Sam Altman collaborating with World and OpenAI on a new project.
- Optimism has approved a proposal to use 50% of Superchain fee revenue for a buyback of $OP over the next 12 months.
- Strive has acquired an additional 334 BTC and has paid off 92% of its inheritance debt from the Semler Scientific acquisition, now holding 13,132 BTC valued at $1.17 billion.
- Gold continues to rise above $5,500, while Bitcoin remains in a sideways range between $88,000 and $89,000. Altcoins are also stagnant.
- The Federal Reserve has maintained interest rates after three consecutive cuts of 0.25%. They noted that inflation remains high and unemployment rates are stabilizing.
- Former President Trump has sent a naval fleet to Iran, aiming to initiate negotiations on nuclear weapons.
ETF Spot Update as of January 28
- No new data available.
- The White House will hold a closed meeting with banking and crypto leaders on February 2 to address the stablecoin interest payment impasse in the CLARITY bill.
- The SEC and CFTC chairpersons will meet publicly at 2 AM tomorrow (Vietnam time) to discuss crypto regulatory coordination.
- The SEC has categorized tokenized securities into two types: self-issued (like traditional securities) and third-party issued (subject to stricter regulations).
- Fidelity has launched the FIDD stablecoin on Ethereum, compliant with the GENIUS Act for operations in the U.S.
- The $WLD token surged 40% following rumors of Sam Altman collaborating with World and OpenAI on a new project.
- Optimism has approved a proposal to use 50% of Superchain fee revenue for a buyback of $OP over the next 12 months.
- Strive has acquired an additional 334 BTC and has paid off 92% of its inheritance debt from the Semler Scientific acquisition, now holding 13,132 BTC valued at $1.17 billion.
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