Category: Cryptocurrency News

Senator Bill Hagerty introduced the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, aiming to regulate US dollar-pegged crypto tokens.

Bitcoin and the entire crypto market experienced a rollercoaster of volatility yesterday, plunging on fears of a U.S. trade war before staging a rapid recovery. The price dropped over 9% in just a few hours, hitting a low of $91,530, only to bounce back by more than 12% following reports that President Trump is negotiating with Mexico and Canada to lift tariffs. This shift in sentiment quickly fueled renewed optimism across the market. Related Reading: Solana Retraces TRUMP Meme Pump Gains – But Technicals Suggest A $300 Run Top analyst Daan shared a technical analysis on X, highlighting Bitcoin’s resilience amid uncertainty. He noted that BTC still looks much stronger than anything else in the market, maintaining a solid uptrend when viewed from a broader perspective. Despite the aggressive sell-off, Bitcoin remains structurally sound, with strong demand levels preventing deeper corrections. With BTC trading back above key levels, investors are watching closely to see if the cryptocurrency can sustain this momentum and push toward all-time highs. The coming days will be crucial in determining whether Bitcoin can solidify its position as the dominant asset in the market or if further volatility will test its strength again. For now, Bitcoin appears to be leading the market recovery, proving its resilience once more. Bitcoin Holding Bullish Price Action Despite recent volatility and aggressive selling pressure, Bitcoin continues to show strength compared to altcoins, proving its dominance in the market. While many altcoins struggle to recover, BTC has rebounded quickly from its lows, reinforcing its position as the leading asset. Yesterday’s price action further confirmed that Bitcoin is still in control, and the long-anticipated altseason may be delayed until altcoins can catch up with BTC’s momentum. Top analyst Daan shared a technical analysis on X, highlighting Bitcoin’s resilience. He noted that BTC is much stronger than anything else in the market and still looks perfectly fine when zooming out. According to Daan, Bitcoin’s demand remains significantly higher than other assets, especially during times of uncertainty. This is evident in the recent market movement, where BTC recovered swiftly while most altcoins remained stagnant or continued to drop. Daan’s analysis reveals that Bitcoin is currently trading within a defined range, with an all-time high (ATH) of $109K at the upper boundary and strong support at the $90K level. As long as BTC holds within this range, the potential for another breakout remains high. If bulls manage to push BTC above the ATH, a new bullish phase will begin, potentially leaving altcoins further behind. Related Reading: Ethereum Long-Term Bullish Structure At Risk – $2,700 Support Is Key for a $7K Target Another key factor driving Bitcoin’s dominance is institutional interest. The recent data from major on-chain analytics platforms reveals that Bitcoin accumulation remains strong among whales, with large holders continuing to add BTC despite market uncertainty. Unlike previous market cycles, where retail investors drove price surges, this rally appears to be fueled by institutions and long-term holders, making it more sustainable. Testing Key Demand Levels Bitcoin is testing crucial liquidity below the $100K mark, currently trading at $99,400 and attempting to find a strong footing before its next move. Price action remains highly unpredictable and volatile, with investors closely watching key levels for signs of a potential breakout or further downside. For BTC to confirm short-term strength, it must reclaim the $100K mark and hold it as support. This level is a psychological and technical barrier that, once secured, could trigger renewed bullish momentum. If Bitcoin struggles to maintain this level, further consolidation below $100K could follow, delaying any breakout attempts. The $98K level is another crucial support zone. As long as BTC stays above this mark, a push back above $100K remains highly likely. Losing this level could lead to a deeper retracement, testing lower demand zones before another attempt to reclaim higher levels. Related Reading: Bitcoin Trades At Discount For The Past Month Signaling Selling Pressure – What This Means To fully regain bullish momentum, Bitcoin must reclaim the $103,600 mark, a key resistance level that has limited upward moves in recent days. A successful breakout above this level would set the stage for a massive rally toward all-time highs, opening the door for BTC to enter price discovery once again. Featured image from Dall-E, chart from TradingView

U.S. Senate and House lawmakers are uniting to cement America’s dominance in digital assets, crafting a regulatory framework to drive innovation, expand financial access, and secure global leadership. US Senate and House Lawmakers Form Crypto Regulatory Group Lawmakers in Washington D.C. have established a bicameral working group to develop a regulatory framework for digital assets, […]

The SEC’s 50-person crypto unit is getting a shakeup with some staff reassigned to other areas, The New York Times reports.

The company’s bitcoin holdings have exceeded its market cap following the purchase of an additional $2 million worth of bitcoin. Genius Group Hits 38% of Intended Target for Bitcoin Holdings With Recent Acquisition Genius Group Limited has announced the increase of its bitcoin holdings to 440 BTC, investing a total of $42 million at an […]

Reading that it could potentially reduce fees and increase scalability. Is this a big deal or just a minor change? I know it’s been one of the pain points with ETH over the years but I don’t quite understand the impact. submitted by /u/lastoutofdodge [link] [comments]

The recent price slump in Bitcoin, caused by a turbulent cryptocurrency market, has sent many investors into panic mode, forcing them to offload their BTC holdings at a loss. However, blockchain analytics firm Glassnode noted that a group of Bitcoin investors remained resilient despite the crypto market volatility, saying that long-term holders of the firstborn crypto are unshaken by the current market slump. Related Reading: Bitcoin Bull Market At Risk If Key $97,000 Support Level Fails To Hold, Analyst Warns Long-Term Holders ‘Largely Unaffected’ Glassnode said that Bitcoin, like other cryptocurrencies, experienced a shaky week in which traders saw the world’s most dominant digital asset crash below the $100,000 level. At one point, Bitcoin’s price nearly hit the $90,000 level, at $92,800, on February 3, which was the lowest since BTC recorded $90,890 on January 13. On the brighter side, the blockchain analytics firm noted that BTC’s long-term holders seem insulated from all the chaos surrounding the cryptocurrency community, saying, “#BTC’s long-term holders (LTHs) remain largely unaffected.” Glassnode revealed that data showed nearly 0.01% of the supply of these BTC holders was in loss, emphasizing the resiliency of long-term investors in times of market turbulence. However, the crypto firm remarked that these Bitcoin investors experienced a decreasing unrealized profit. “However, their unrealized profit share has steadily declined since November, now at its lowest since September – suggesting no renewed accumulation yet,” Glassnode said in a post. The analyst noted that BTC holders are not aggressively buying at current prices, possibly waiting for better market signals before resuming accumulation. Bitcoin Short-Term Holders Bleed Meanwhile, data showed that another segment of Bitcoin investors suffered the most from the market crash – short-term holders. According to Glassnode, short-term BTC holders experienced a significant loss after the crypto’s price slid below the $100,000 level, causing panic among these traders. #Bitcoin dipped below $100K over the weekend, pushing a notable amount of short-term holder (STH) supply into loss. At $97K, the supply in loss & profit held by STHs was evenly split at ~11% – the largest loss exposure for STHs since early January: https://t.co/Drjy6ahQMm pic.twitter.com/gypNiJ0BqX — glassnode (@glassnode) February 3, 2025 Glassnode said that when Bitcoin plummeted to $100,000 over the weekend, it pushed “a notable amount of short-term holder (STH) supply into loss.” “At $97K, the supply in loss & profit held by STHs was evenly split at ~11% – the largest loss exposure for STHs since early January,” the blockchain analytics firm said in an X post. Bearish Market Sentiment An analyst noted that Bitcoin briefly dipped so low that it nearly hit $90,000 per coin, as the dominating crypto suffered after the market crash. “Bitcoin plummeted to as low as $91.2K as all of crypto has dipped with world stock markets starting the week with heavy bleeding. Media outlets seem to be attributing plummeting sectors to ‘Trump’s trade war’,” market intelligence platform Santiment said in a post. 😰 Bitcoin plummeted to as low as $91.2K as all of crypto has dipped with world stock markets starting the week with heavy bleeding. Media outlets seem to be attributing plummeting sectors to ‘Trump’s trade war’. Whether this is the primary reason or if there are other… pic.twitter.com/ij1bQ6xfUu — Santiment (@santimentfeed) February 3, 2025 Related Reading: Crypto Traders Wrecked As Trump’s Tariffs Spark $2 Billion Liquidation Santiment added that there have been overwhelmingly negative reactions from investors in the cryptocurrency community as a result of the price decline, and for a moment it seems BTC is about to enter bearish territory. The market intelligence platform noted that at the moment, Bitcoin was able to pull back to $96,000. “Was this flush orchestrated to get trigger-happy retail traders to sell at a local bottom? Historically, markets virtually always move the opposite direction of the crowd’s expectations,” Santiment asked in a post. Featured image from Pexels, chart from TradingView

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But perhaps his most serious allegation is that Coinbase appears to be doing little to curb the issue. America’s Largest Cryptocurrency Exchange Has Failed to Protect Its Users, According to an Onchain Analyst Pseudonymous onchain analyst Zachxbt claimed on Monday that Coinbase users, many of them elderly, have lost more than $300 million annually to […]