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2 Feb 2026, 10:58
Bitmine’s Ethereum Treasury Faces $6.9B Paper Losses in Market Slump
Bitmine, the crypto-focused firm chaired by Fundstrat co-founder Tom Lee, is sitting on more than $6.9 billion in unrealized losses on its Ethereum (ETH) holdings. The situation highlights the severe impact of the recent crypto market correction on large, concentrated institutional bets. Bitmine’s ETH Bet Comes Under Pressure According to portfolio data from Dropstab, Bitmine holds about $9.2 billion worth of ETH, down more than 41% from its total investment of nearly $15.7 billion. The losses remain unrealized, but the scale has attracted attention, with Ethereum trading near seven-month lows following a market-wide sell-off that erased around $500 billion from total crypto market value in recent days. The scrutiny has been amplified by commentary on X. For example, on January 30, investor Karol Kozicki criticized what he called the “prediction industrial complex,” pointing to Lee’s earlier calls for Bitcoin at $180,000 and ETH between $7,000 and $9,000 by the end of January. With BTC now hovering around $75,000 and Ethereum near $2,200, Kozicki described the forecasts as detached from market reality. Another post from market watcher Shah claimed Lee would need prices near $7,000 to exit close to breakeven, noting that any large-scale sale could itself move the market. While the language used drew criticism, the post echoed a broader concern about liquidity and exit risk for large holders during stressed conditions. Liquidations, Whale Moves, and What Comes Next for ETH Bitmine’s losses coincided with a brutal period for ETH, which fell from above $3,000 earlier in the week to as low as $2,166, with CryptoQuant data showing more than $485 million in ETH long liquidations on January 31. Currently, the world’s second-largest cryptocurrency by market cap is down nearly 23% in the last seven days and almost 28% over the past month. Trading volume has spiked 7.30% to more than $55 billion in 24 hours per CoinGecko, a sign of heightened activity as leveraged positions unwind. On-chain data shows mixed behavior among large holders, with Lookonchain reporting that some whales are moving ETH to exchanges, including Trend Research, which deposited more than 33,000 ETH to Binance to repay Aave loans. At the same time, other large players have been buying through OTC desks, picking up more than 30,000 ETH in a matter of hours, suggesting disagreement among sophisticated investors about near-term direction. Lee has previously argued that a historic deleveraging event in October 2025 damaged crypto market structure and increased volatility, even as he maintained a long-term view of Bitcoin as “digital gold.” But as it stands, Ethereum’s price action suggests that conviction alone offers limited protection during broad risk-off moves, especially when leverage and liquidity constraints collide. The post Bitmine’s Ethereum Treasury Faces $6.9B Paper Losses in Market Slump appeared first on CryptoPotato .
2 Feb 2026, 10:47
AI predicts Bitcoin price for February 28, 2026
Bitcoin ( BTC ) continues to decline on Monday, February 2, trading below the $77,000 level due to a combination of macroeconomic headwinds, institutional outflows , and forced liquidations. Despite ongoing volatility, investors are already looking ahead to where Bitcoin could settle by the end of February, with artificial intelligence ( AI ) models offering early insight into potential price trajectories amid elevated uncertainty. Bitcoin AI price prediction Finbold’s AI-driven price prediction tool , which aggregates forecasts from ChatGPT , Gemini 2.5 Flash, and Claude Sonnet 4 to generate a more diverse range of potential Bitcoin price targets, predicts a BTC price of $76,667 for February 28, 2026. The figure represents a modest change from the current price of $76,784, suggesting the flagship crypto is going to lose another 0.14% by the end of the month, which would drag it down to levels not seen since April last year. AI BTC price prediction. Source: Finbold However, the average figure might be somewhat deceptive. Namely, Claude Sonnet projected a potential 7.44% rally and a $82,500 price target. In contrast, Gemini and ChatGPT suggested Bitcoin could drop 5.58% to $72,500 or 2.32% to $75,000, respectively. In other words, the three AI models remain sharply divided on Bitcoin’s near-term trajectory, reflecting elevated uncertainty in regard to macro policy, institutional positioning, and market liquidity. All in all, they suggest “digital gold” is likely to remain range-bound into late February, but their individual discrepancies show that some erratic chart movement is also possible, as Claude Sonnet’s aggressively bullish stance balances out the more bearish sentiment displayed by Gemini and ChatGPT. Finbold AI BTC technical analysis. Source: Finbold February 2026 Bitcoin price outlook Overall, Bitcoin’s drop reflects a self-reinforcing combination of tighter macro expectations, institutional retreat via Bitcoin ETFs , and the unwinding of leveraged positions. The asset has broken below key weekly support levels, including the critical 200-day Simple Moving Average ( SMA ) of $103,947, while the 14-day Relative Strength Index ( RSI ) reads 23.37, indicating deeply oversold conditions and weak momentum. At the same time, the weekly MACD remains deeply negative and repeated failures near the 0.786 Fibonacci level ($102,700) formed lower highs. Market participants are now watching whether BTC can reclaim the $78,000 level associated with recent liquidation dominance as a potential signal that selling pressure is easing. Featured image via Shutterstock The post AI predicts Bitcoin price for February 28, 2026 appeared first on Finbold .
2 Feb 2026, 10:45
Ripple EMI License: Strategic Victory Unlocks European Union Payment Dominance
BitcoinWorld Ripple EMI License: Strategic Victory Unlocks European Union Payment Dominance LUXEMBOURG – In a significant regulatory milestone, Ripple has obtained a full Electronic Money Institution (EMI) license from Luxembourg’s Commission de Surveillance du Secteur Financier (CSSF), fundamentally reshaping its operational capacity within the European Union’s financial landscape. This authorization, confirmed by regulatory filings and reported by The Block on October 26, 2023, transitions the company from preliminary approval to a fully licensed entity. Consequently, Ripple can now legally issue electronic money and provide regulated payment services across all 27 EU member states under the bloc’s passporting rules. This development marks a pivotal moment for the firm’s international expansion strategy, especially following its ongoing legal challenges in the United States. Ripple EMI License: A Deep Dive into the Regulatory Framework The Commission de Surveillance du Secteur Financier granted this crucial license after a rigorous review process. Luxembourg, renowned for its robust and innovative financial regulatory environment, serves as a strategic gateway to the European single market. An EMI license, governed by the EU’s revised Payment Services Directive (PSD2), authorizes a company to issue electronic money. This digital equivalent of cash facilitates a wide range of payment services. Specifically, it allows Ripple to offer services like executing payment transactions, issuing payment instruments, and providing money remittance. Furthermore, the license explicitly permits activities involving digital assets, bridging traditional finance with cryptocurrency infrastructure. This approval is not an isolated event but rather the culmination of Ripple’s concerted effort to establish a compliant European presence. The company previously secured a Major Payment Institution license from the Monetary Authority of Singapore in 2023. Additionally, it holds multiple registrations with the UK’s Financial Conduct Authority. Luxembourg’s CSSF is particularly respected for its expertise in fintech and cross-border finance. Therefore, securing its endorsement significantly boosts Ripple’s regulatory credibility on a global scale. The firm can now leverage the EU’s passporting regime, which allows a financial service provider licensed in one member state to operate freely in all others without seeking separate national approvals. Comparative Analysis: Ripple’s EU License Versus Global Regulatory Status To understand the strategic importance of this license, it is essential to compare Ripple’s regulatory standing in different jurisdictions. The following table outlines key approvals: Jurisdiction Regulatory Body License/Status Key Permission European Union CSSF (Luxembourg) Electronic Money Institution (EMI) Issue e-money, provide payment services EU-wide Singapore Monetary Authority of Singapore (MAS) Major Payment Institution License Offer digital payment token services United Kingdom Financial Conduct Authority (FCA) Registered Cryptoasset Firm Conduct cryptoasset activities United States SEC (Case ongoing) Partial legal victory (July 2023) XRP is not a security in programmatic sales Ireland Central Bank of Ireland Virtual Asset Service Provider (VASP) Provide specified crypto services This mosaic of approvals highlights a clear strategy: establish firm regulatory footing in markets with clear digital asset frameworks while contesting ambiguous regulations elsewhere. The EU license is arguably the most comprehensive of these, providing a unified operational base for 450 million potential customers. Impact on the European Digital Asset Ecosystem The immediate effect of this license is profound for Ripple’s enterprise clients and partners. Financial institutions using RippleNet for cross-border settlements can now access a fully regulated EU payment corridor. This development reduces counterparty risk and enhances legal certainty for banks. Moreover, Ripple’s On-Demand Liquidity (ODL) service, which uses XRP as a bridge currency, can operate with greater legitimacy within the region. Industry analysts note that this could accelerate adoption among European banks seeking efficient, low-cost international transactions. Concurrently, this move exerts pressure on competitors and influences the broader regulatory conversation. Other crypto-native payment firms must now consider pursuing similar EMI licenses to compete on a level playing field. The license also arrives as the EU finalizes implementation of its landmark Markets in Crypto-Assets (MiCA) regulation. MiCA will create a harmonized regulatory framework for crypto-assets across the bloc by 2025. Ripple’s proactive compliance positions it favorably ahead of MiCA’s enforcement, potentially allowing for smoother service expansion. Experts suggest that Ripple’s Luxembourg base could become its central hub for servicing the entire European Economic Area. Expert Perspective: Regulatory Strategy and Market Positioning Financial regulation specialists emphasize the strategic foresight behind this move. “Securing an EMI license in Luxembourg is a masterstroke in regulatory arbitrage,” notes Dr. Elisa Martin, a fintech law professor at the University of Luxembourg. “It provides Ripple with a stable, reputable jurisdiction from which to serve the entire EU market, contrasting sharply with the regulatory uncertainty it faces in the U.S. This isn’t just about compliance; it’s about securing a competitive moat.” The license enables Ripple to offer services that pure crypto exchanges or unregulated entities cannot, such as holding client fiat funds and integrating directly with traditional banking infrastructure. Furthermore, the timing is critical. The global financial sector is increasingly exploring blockchain-based solutions for payments and settlements. A fully regulated provider like Ripple becomes a more palatable partner for conservative financial institutions. This license effectively demystifies Ripple’s offering for corporate treasurers and bank compliance officers. It translates complex blockchain technology into a familiar regulatory framework. Consequently, business development conversations can shift from explaining regulatory risk to discussing operational efficiency and cost savings. Technical and Operational Implications for RippleNet Operationally, the license necessitates and validates specific technical and compliance upgrades within Ripple’s systems. The company must now adhere to strict EU standards for: Anti-Money Laundering (AML) and Counter-Terrorist Financing (CTF): Implementing enhanced due diligence and transaction monitoring as per the EU’s AMLD6 directive. Consumer Protection: Adhering to strong customer authentication (SCA) rules and transparent pricing under PSD2. Capital Requirements: Maintaining minimum capital levels and safeguarding customer funds in segregated accounts. Governance and Reporting: Establishing clear local management in Luxembourg and submitting regular reports to the CSSF. These requirements, while demanding, serve to institutionalize Ripple’s services. They build trust with enterprise clients who operate under the same rules. For end-users, the changes may be less visible but fundamentally important. Payments facilitated through the newly licensed entity will benefit from EU consumer protection laws and deposit guarantee schemes where applicable. This layer of financial security is a key differentiator in the digital asset space. Conclusion Ripple’s acquisition of a full Electronic Money Institution license from Luxembourg’s CSSF represents a transformative strategic achievement. It provides a stable, regulated foundation for expanding its payment and digital asset services across the European Union’s vast market. By aligning with the EU’s progressive but rigorous financial framework, Ripple enhances its credibility, mitigates regulatory risk, and creates a significant competitive advantage. This move not only secures its European operations but also sets a benchmark for the integration of cryptocurrency enterprises into the mainstream global financial system. The **Ripple EMI license** is therefore more than a permit; it is a gateway to legitimized, large-scale adoption of blockchain-based financial infrastructure. FAQs Q1: What exactly does an Electronic Money Institution (EMI) license allow Ripple to do? An EMI license permits Ripple to legally issue electronic money (digital fiat currency) and provide a suite of payment services, including executing payment transactions, money remittance, and issuing payment instruments like digital wallets. Crucially, it allows these services to be offered across all 27 EU member states under a single authorization. Q2: How does this license affect Ripple’s use of the XRP cryptocurrency? The license provides a regulated framework for Ripple’s On-Demand Liquidity (ODL) service, which utilizes XRP as a bridge currency for cross-border payments. It allows European financial institutions to use this service with greater legal and regulatory certainty, as the activities fall under the oversight of the CSSF and broader EU payment laws. Q3: Why did Ripple choose Luxembourg for this license? Luxembourg is a preeminent EU financial hub with a highly regarded regulator (CSSF) known for its fintech expertise. Its regulatory framework is robust yet innovative, and a license from Luxembourg is “passportable” to the entire EU single market, making it an efficient and prestigious base for pan-European operations. Q4: Does this mean Ripple is now fully regulated in Europe? Yes, for its electronic money and payment services. This EMI license is a comprehensive financial license. Ripple must still comply with the upcoming Markets in Crypto-Assets (MiCA) regulation for specific crypto-asset services, but its proactive compliance with the EMI framework positions it strongly for MiCA’s implementation. Q5: How does this development impact Ripple’s ongoing legal case with the U.S. SEC? The EU license is geographically and legally separate from the U.S. case. However, it demonstrates Ripple’s ability to operate successfully under clear regulatory regimes outside the United States. It may strengthen Ripple’s argument for the need for regulatory clarity by contrasting the EU’s defined framework with the U.S.’s current enforcement-based approach. This post Ripple EMI License: Strategic Victory Unlocks European Union Payment Dominance first appeared on BitcoinWorld .
2 Feb 2026, 10:40
Blockstream CEO Adam Back Denies Disturbing Epstein Ties Amid Document Revelations
BitcoinWorld Blockstream CEO Adam Back Denies Disturbing Epstein Ties Amid Document Revelations January 15, 2025 – SAN FRANCISCO – Blockstream CEO Adam Back has issued a firm denial regarding alleged connections to the late financier and convicted sex offender Jeffrey Epstein, following the appearance of his name in recently released documents. The cryptocurrency industry now faces renewed scrutiny as these revelations emerge during a critical regulatory period. This development raises significant questions about transparency and due diligence within blockchain leadership circles. Blockstream Epstein Allegations: Document Analysis and Timeline According to documents obtained by The Block, Blockstream co-founder Austin Hill exchanged emails with Jeffrey Epstein in 2014. These communications reportedly discussed increasing an investment in the blockchain technology company. Furthermore, flight reservation records show both Hill and Back’s names listed for travel to St. Thomas, an island owned by Epstein at the time. The U.S. Department of Justice released these documents as part of a broader disclosure involving hundreds of thousands of pages related to Epstein’s network. Blockstream immediately responded to these allegations with a public statement. The company emphasized its lack of connection to Epstein or his foundation. Industry analysts note this situation mirrors similar controversies affecting technology and finance sectors. The timing coincides with increased regulatory attention on cryptocurrency governance and executive accountability. Cryptocurrency Industry Implications and Regulatory Context The cryptocurrency sector operates within an evolving regulatory landscape. Recent years have seen increased scrutiny from global financial authorities. These Epstein document revelations emerge during crucial policy discussions about blockchain transparency. Several key factors now influence industry perception: Regulatory Scrutiny: Global watchdogs intensify cryptocurrency oversight Investor Confidence: Transparency concerns may affect institutional adoption Governance Standards: Calls for improved due diligence procedures Industry Reputation: Broader technology sector faces similar challenges Legal experts emphasize that mere document appearances don’t establish wrongdoing. However, they acknowledge the reputational impact on emerging technologies. The blockchain community generally advocates for transparency while protecting legitimate privacy concerns. Expert Analysis: Legal Precedents and Industry Standards Legal professionals specializing in financial technology note important distinctions. Document inclusion doesn’t necessarily indicate personal relationships or business dealings. The cryptocurrency industry has historically valued pseudonymity, creating unique challenges for traditional due diligence approaches. However, increasing institutional participation drives higher accountability expectations. Comparative analysis reveals similar situations across technology sectors. Several Silicon Valley executives faced document-related scrutiny in recent years. The blockchain industry’s decentralized nature complicates traditional corporate governance models. Legal experts suggest these developments may accelerate formal compliance frameworks within cryptocurrency organizations. Historical Context: Epstein Documents and Financial Networks The Jeffrey Epstein case involves extensive financial and social networks spanning multiple industries. Released documents contain numerous prominent names from finance, technology, and politics. For instance, Kevin Warsh, nominated by President Donald Trump for Federal Reserve Chairman, also appears in these records. This pattern demonstrates the widespread nature of Epstein’s documented connections. Financial analysts observe that Epstein maintained relationships across investment sectors. His activities included technology investments during blockchain’s early development phase. The 2014 email correspondence with Blockstream’s co-founder aligns with this investment timeline. Document analysis requires careful distinction between formal business relationships and incidental document appearances. Document Timeline and Key Events Year Event Significance 2014 Email exchange between Epstein and Austin Hill Investment discussion during Blockstream’s early phase 2019 Epstein’s arrest and subsequent death Document preservation and investigation acceleration 2023-2024 Gradual document releases by Department of Justice Multiple industry figures identified in records 2025 Blockstream statement regarding document appearances Cryptocurrency industry faces renewed scrutiny Blockstream’s Position and Industry Response Blockstream maintains its denial of substantive connections to Epstein’s activities. The company highlights its focus on Bitcoin infrastructure and blockchain technology development. Industry observers note Blockstream’s significant contributions to cryptocurrency infrastructure since its 2014 founding. These include the Liquid Network and satellite Bitcoin broadcasting services. Cryptocurrency community reactions demonstrate divided perspectives. Some emphasize the importance of separating individuals from organizational achievements. Others call for increased transparency regarding executive backgrounds and associations. This situation reflects broader debates about accountability in decentralized technology ecosystems. Impact on Cryptocurrency Adoption and Perception Market analysts monitor potential effects on institutional cryptocurrency adoption. Recent years show increasing corporate and governmental blockchain engagement. Document controversies may influence traditional finance’s cautious approach to cryptocurrency partnerships. However, blockchain’s fundamental value proposition remains distinct from individual executive associations. Technology historians compare this situation to early internet industry challenges. Previous technology revolutions faced similar growing pains regarding leadership scrutiny. The decentralized nature of blockchain technology may ultimately provide stronger accountability mechanisms through transparent ledgers and community governance models. Conclusion Blockstream CEO Adam Back’s denial of Epstein ties highlights ongoing challenges in cryptocurrency industry governance. Document appearances require careful analysis within proper legal and historical context. The blockchain sector continues evolving amid increasing regulatory expectations and institutional participation. These developments emphasize the importance of transparent leadership while recognizing technology’s transformative potential. The cryptocurrency community now navigates complex questions about accountability in decentralized ecosystems. FAQs Q1: What specific documents mention Blockstream executives? The documents include email correspondence from 2014 between co-founder Austin Hill and Jeffrey Epstein discussing potential investment. Flight reservation records also list both Hill and CEO Adam Back for travel to Epstein’s private island. Q2: Has Blockstream received investment from Epstein or his associates? Blockstream denies any financial connections to Epstein or his foundation. The company states it has no relationship with Epstein’s network despite document appearances. Q3: How does this affect Blockstream’s current operations? Blockstream continues its Bitcoin infrastructure development. The company maintains its focus on technological innovation while addressing document-related inquiries through official statements. Q4: Are other cryptocurrency companies mentioned in Epstein documents? Current document releases primarily focus on Blockstream executives. However, ongoing document analysis may reveal additional technology sector connections as investigations continue. Q5: What legal implications exist for document appearances? Legal experts note that document inclusion doesn’t establish wrongdoing. However, regulatory bodies may examine corporate governance practices as part of broader cryptocurrency oversight initiatives. This post Blockstream CEO Adam Back Denies Disturbing Epstein Ties Amid Document Revelations first appeared on BitcoinWorld .
2 Feb 2026, 10:39
US Liquidity Crisis Sparked $250B Crash, Not a ‘Broken’ Crypto Market: Analyst
A severe sell-off over the weekend that wiped about $250 billion off the cryptocurrency market has rekindled speculation that the digital assets are in a structural failure or merely responding to macro stressors. Though all prices in the industry have tumbled ferociously , market analysts claim that it is a contraction of the U.S. liquidity situation and not a collapse of crypto markets. Raoul Pal, founder and CEO of Global Macro Investor, said that a temporary lack of U.S. dollar liquidity is triggered by a series of macro events, such as repeated government shutdowns, Treasury cash management dynamics, and a vacuum of risk capital. Bitcoin’s Drop Mirrors Tech Stocks as Liquidity Tightens, Pal Says In a post published on X over the weekend, Pal pushed back against claims that Bitcoin and crypto had “broken” or detached from traditional markets, arguing instead that similar pressure has appeared across other long-duration assets. https://t.co/M5mLAi3XLA — Raoul Pal (@RaoulGMI) February 1, 2026 Pal cited analogies between Bitcoin and the U.S. software-as-a-service equities, saying that the two asset classes have been almost identical in their price movements throughout the downturn. He said this suggests a shared macro driver rather than sector-specific weakness. In his analysis, he pointed out that U.S. total liquidity has become the dominant factor in this phase of the cycle, outweighing broader global liquidity measures that typically correlate more closely with crypto prices. The liquidity squeeze, Pal argued, stems from a combination of factors that reduced the amount of capital circulating through the financial system. Source: MacroMicro These are the finish of the Federal Reserve reverse repo facility drawdown in 2024, a reconstruction of the Treasury General Account in mid-year 2025, and the effects of the recent partial U.S. government shutdown. U.S. President Donald Trump signed a bill on Wednesday that formally ended the country's longest government shutdown. #DonaldTrump #GovernmentShutdown https://t.co/pTDbHsvj8O — Cryptonews.com (@cryptonews) November 13, 2025 He also included that a robust rise in gold also averted marginal liquidity that could have otherwise been pumped into less risky assets like crypto and high-growth equities. Market data is also indicative of the magnitude of the damage, as Bitcoin plunged over 10% from a weekend high near $84,000 to lows of approximately $76,000 to establish one of the biggest CME futures gaps in history. Bitcoin and Ethereum Sink as Derivatives Interest Hits 9-Month Low At the time of writing, Bitcoin was trading at $76,839, which is a 12.6% decline during the last week and 39% below its all-time value. Ethereum was subject to even greater losses, falling by almost 7% in 24 hours to about 2243 and still more than 54% below its high. Total Crypto MarketCap Source: Coingecko The crypto market in general has been experiencing the same trend, with a total market capitalization going down to approximately $2.66 trillion, which was previously around $3 trillion just a week earlier. Liquidations were fast, and over $2.5 billion was wiped out in a single day, with over $5.4 billion liquidated since Thursday, according to CoinGlass data. The overall interest in all derivatives markets has dropped to about $24.2 billion, its lowest point in nine months, with leveraged positions flushed out. The selloff was coupled with dystrophic liquidity on weekends and a succession of macro news, such as trade tensions, increasing yields in long-dated Japanese government bonds, and increasing geopolitical risks in the Middle East and Asia. On-chain indicators suggest confidence remains fragile. Exchange outflows dropped sharply after the sell-off, showing limited dip buying, while large Bitcoin holders reduced exposure by an estimated 10,000 BTC since early February. Short-term holders are deep in unrealized losses, with NUPL metrics sitting in capitulation territory, though not yet at levels historically associated with final market bottoms. Analysts note that without stronger accumulation from long-term investors, such rallies tend to fade. The post US Liquidity Crisis Sparked $250B Crash, Not a ‘Broken’ Crypto Market: Analyst appeared first on Cryptonews .
2 Feb 2026, 10:38
Could Bitcoin slip below $70,000? Here’s what the signs are saying
Prediction markets have turned markedly more bearish on Bitcoin following a sharp weekend sell-off that briefly pushed the cryptocurrency below $75,000 on Monday, erasing earlier gains and intensifying concerns about the rally’s durability. On Polymarket, traders sharply increased wagers on further downside. The odds of Bitcoin falling below $65,000 at some point in 2026 climbed to 72% on Monday, with nearly $1 million in trading volume backing that outcome. Other large bets included probabilities of 61% for a drop below $55,000 and 54% for a recovery back above $100,000 by year-end, highlighting a market divided between expectations of deeper pain and the possibility of a late-cycle rebound. The shift in betting activity reflects a clear reversal in sentiment. Bitcoin has now given back gains made after President Donald Trump’s election victory in November 2024, with prices under sustained pressure since late last year. Bitcoin fell about 11% from around $84,000 on Saturday to a nine-month low near $74,600 in early Monday trading before stabilizing near $77,600. The decline has reinforced the view that institutional investors are reassessing exposure rather than adding to positions. The most recent move lower also carried symbolic weight for Strategy, the world’s largest publicly listed holder of Bitcoin, as prices fell below the firm’s average purchase cost for the first time since late 2023. Analysts point to entrenched bear market conditions Some market observers argue the latest sell-off is not an isolated shock, but part of a broader bearish trend that has been unfolding for months. CryptoQuant reiterated that Bitcoin has been in a bear market since November 2025, when prices slipped below the 365-day moving average. “Don’t try to find bottoms after a new leg down,” CryptoQuant head of research Julio Moreno said in a post on X over the weekend. “Bear market bottoms take months to form.” The warning contrasts with more optimistic projections issued late last year. Grayscale Investments had predicted that Bitcoin could surpass its prior all-time high of $126,000 by June 2026, citing expectations of institutional demand and clearer US regulation. Standard Chartered and Bernstein also projected Bitcoin reaching $150,000 in 2026, although both firms have since revised earlier, more aggressive targets amid slower inflows into crypto exchange-traded funds. Bitcoin trades below ETF cost basis Pressure has also intensified in the ETF market. According to Galaxy head of research Alex Thorn, Bitcoin is now trading below the average cost basis of US spot Bitcoin ETFs after the products recorded their second- and third-largest weekly outflows last month. Total assets under management across US spot Bitcoin ETFs stand at approximately $113 billion, according to Coinglass. These funds collectively hold around 1.28 million BTC, according to BiTBO, implying an average cost basis of roughly $87,830 per Bitcoin. “This means the average Bitcoin ETF purchase is underwater,” Thorn said. Over the past two weeks alone, the eleven spot Bitcoin ETFs have seen $2.8 billion in net outflows, including $1.49 billion last week and $1.32 billion the week before, according to CoinGlass data. Since peaking at $165 billion in assets under management in October, US Bitcoin ETFs have seen their combined assets fall by 31.5%, while the price of Bitcoin has declined by roughly 40% over the same period.Price action underscores mounting stress The post Could Bitcoin slip below $70,000? Here's what the signs are saying appeared first on Invezz
