Crypto World
Bitcoin’s $47K Discount: Why Math Shows $123K Target While Price Sits at $76K
TLDR:
- Bitcoin’s power-law z-score at -0.69 indicates 38.2% discount from $122,681 mathematical trend value
- ETF outflows accelerated 265% to $15.25 billion in 30 days, driving persistent mechanical selling
- Open interest dropped 21.6% alongside 19.5% price decline, signaling deleveraging not panic selling
- Maximum gamma at $75K creates price compression with call wall at $90K and flip level at $71K
Bitcoin trades at $76,337 as of writing while mathematical models place its trend value at $122,681, creating a 38.2% discount that stems from mechanical deleveraging rather than fundamental weakness.
Data analyst David highlights this gap between short-term price formation driven by exchange-traded fund flows and long-run anchors determined by fixed supply and production costs.
The power-law z-score stands at -0.69, suggesting the asset trades significantly below its statistical trend despite unchanged underlying fundamentals.
ETF Outflows Drive Persistent Price Pressure
The primary catalyst behind Bitcoin’s current price weakness appears through exchange-traded fund activity.
Estimated net outflows reached $15.25 billion over the past 30 days, representing a 265% acceleration in redemptions. Trading volume remains at 0.8 times normal levels, indicating sustained rather than panicked selling pressure.
David explains that “this is how a scarce asset gets pushed below its ‘map’ without a dramatic capitulation.” The flow remains persistent but measured, avoiding the high-volume liquidation cascades typical of market crashes. Spot trading volume corresponds with gradual position unwinding rather than forced selling.
The distinction matters because mechanical selling creates different market dynamics than sentiment-driven crashes.
Exchange-traded fund investors can redeem shares steadily without triggering the feedback loops that amplify volatility. This steady pressure pushes price lower while maintaining relatively orderly market conditions.
Traditional panic selling typically accompanies volume spikes and accelerating price declines. Current market behavior shows neither characteristic, suggesting the selling pressure stems from portfolio rebalancing or institutional allocation shifts.
The absence of volatility expansion supports this interpretation of gradual rather than distressed selling.
Derivative Positioning Reveals Compression Dynamics
Open interest declined 21.6% over 30 days while price dropped 19.5%, producing a positive correlation of 0.66 between the two metrics.
David notes that “when price falls with collapsing open interest, you’re not seeing panic. You’re seeing balance sheets quietly shrink.” This synchronized decline indicates deleveraging rather than new short positions accumulating.
The paper-to-spot ratio stands at just 1.9%, reflecting reduced derivative activity relative to underlying asset trading. Options market structure shows net gamma exposure at negative $43 million, near neutral territory.
Maximum gamma concentrates at the $75,000 strike, creating a gravitational effect around current prices.
Put walls sit at $75,000 approximately 1.3% below spot, while call walls emerge at $90,000 roughly 18.5% higher. The gamma flip level appears at $70,999, about 6.5% below current trading levels.
David observes that “price feels ‘stuck’ because hedging flows are absorbing movement near the strike. Not because demand disappeared.”
The analyst emphasizes the asymmetric setup this creates, stating that “downside needs the persistent seller to keep selling. Upside mostly needs the seller to stop.”
The derivative structure adds friction to large moves in either direction until flow patterns shift materially or positioning constraints change substantially.
With crypto winter clearly having set in, bulls are now left looking for signs that the bearishness has become so embedded that a bottom might form.
One case in point might be a note from Canaccord’s Joseph Vafi on Wednesday, slashing his price target on Strategy (MSTR) by a whopping 61% to $185 from $474.
Vafi, who lifted his outlook on Strategy as recently as November (to that $474 level), still maintains a buy rating on the stock, and his new $185 target suggests about 40% upside from last night’s close of $133.
Strategy is now down 15% year-to-date, 62% year-over-year, and 72% from its record high in November 2024.
Bitcoin, said Vafi, is in the midst of an “identity crisis,” still fitting the profile of a long-term store of value but increasingly trading like a risk asset. That tension came into focus during October’s crypto flash crash, when forced liquidations accelerated selling.
Though frequently cast as “digital gold,” bitcoin has failed to keep pace with the recent surge in precious metals, he continued. As gold has climbed on geopolitical tensions and macro uncertainty, bitcoin has lagged, underscoring its ongoing dependence on liquidity and risk appetite rather than safe-haven demand.
Strategy is built to weather volatility, the report said. The company holds more than $44 billion in bitcoin against roughly $8 billion in convertible debt, including a $1 billion tranche puttable in 2027 that remains in the money. Preferred dividends are manageable through modest share issuance, even with MSTR’s market cap no longer commanding much of a premium to the value of its BTC holdings.
Quarterly results are coming this week, but they have become largely immaterial given Strategy’s near-complete dependence on BTC, Vafi continued. A sizable unrealized loss tied to bitcoin’s fourth-quarter selloff is expected.
Vafi’s new $185 target assumes a 20% rebound in bitcoin prices and a recovery in the company’s mNAV to about 1.25x.
Read more: ETF that feasts on carnage in bitcoin-holder Strategy hits record high
As the BTC/USD chart shows, prices dropped below $74,000 yesterday. This marks the lowest level since November 2024, when the cryptocurrency was rallying on news of Trump’s election victory.
At the same time, sentiment indicators are signalling “extreme fear” across the market. This was reinforced by the break below the key April 2025 low near $74,450.
The media has been circulating increasingly alarming headlines:
→ Michael Burry, well known for his bearish calls, has suggested that a drop below the $70k level could create problems for the largest coin holder, MicroStrategy (MSTR);
→ Matt Hougan, Chief Investment Officer at Bitwise, warns that the market may be heading for a “full-blown” crypto winter rather than a simple correction.
Technical Analysis of the BTC/USD Chart
The price continues to move further away from the support level whose break we highlighted on 30 January.
At the same time, the market appears extremely oversold:
→ the price has fallen below the lower boundary of the previously drawn descending red channel;
→ the RSI indicator is forming bullish divergences.
Under these conditions, it is reasonable to assume that the market may be setting up for a technical rebound. This scenario looks particularly plausible given the scale of long position liquidations — around $2.5 billion were wiped out on 31 January alone.
If a recovery does unfold, a key test of bullish intent will be the psychological $80k area, where bears previously held clear control while breaking below the lower boundary of the descending channel.
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A survey of senior crypto investors and executives suggests capital priorities are shifting away from decentralized finance (DeFi) and toward core infrastructure, as decision-makers focus on liquidity constraints and market plumbing.
The findings come from a new report published by the digital asset conference CfC St. Moritz, based on responses from 242 attendees of its invitation-only event in January. Respondents included institutional investors, founders, C-suite executives, regulators and family office representatives.
According to the survey, 85% of respondents selected infrastructure as their top funding priority, ahead of DeFi, compliance, cybersecurity and user experience.
While expectations for revenue growth and innovation remain broadly positive, respondents flagged liquidity shortages as the industry’s most pressing risk. The results suggest that investor interest remains, but capital deployment is becoming more selective.
Infrastructure takes priority as liquidity concerns persist
Respondents pointed to market depth and settlement capacity as key bottlenecks preventing larger pools of institutional capital from entering crypto markets.
About 84% of respondents described the macroeconomic backdrop as better than neutral for crypto growth, though many said existing market infrastructure remains insufficient for large-scale capitalization.
The survey also showed a change in innovation expectations. While a majority expects innovation to accelerate in 2026, fewer respondents anticipate a sharp increase compared to last year, suggesting a shift away from more speculative expectations toward execution-focused development.
This shift aligns with broader industry trends, including a focus on custody, clearing, stablecoin infrastructure and tokenization frameworks rather than consumer-facing applications.
Related: CoreWeave shows how crypto-era infrastructure quietly became AI’s backbone
US sentiment improves as IPO expectations cool
The survey found a sharp improvement in perceptions of the US regulatory environment, with respondents ranking the country as the second-most favorable jurisdiction for digital assets, behind the United Arab Emirates.
CfC St. Moritz attributed the shift to stablecoin legislation and clearer rules for banks and regulated market participants.
At the same time, expectations for crypto initial public offerings cooled after what respondents described as a record year in 2025. While most still expect listings to continue, fewer expressed high confidence, citing valuation resets and liquidity constraints.
Magazine: Crypto loves Clawdbot/Moltbot, Uber ratings for AI agents: AI Eye
Bitcoin (BTC) traders see its ultimate support trendline coming into play as part of a new macro BTC price bottom.
Key points:
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Bitcoin is nearing a long-term trendline retest for the first time since late 2023.
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Weekly moving averages are on the radar as a BTC price safety net should the market fall again.
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Market outlooks place emphasis on trader resilience despite a 40% drawdown.
BTC 200-week trend line “should be the bottom”
The latest analysis increasingly expects Bitcoin to test its 200-week exponential moving average (EMA) at $68,400.
After four straight red monthly candles, BTC price is fielding fresh downside targets, which include sub-$50,000 levels.
Despite dropping to its lowest levels since late 2024 this week, BTC/USD may be rescued by classic support trend lines in the end.
“We’re currently trading at Strategy’s cost basis & are close [to] the April lows at $74.4k. If we break below, the next key level is $70k which is just above the previous ATH of $69k,” Nic Puckrin, CEO of crypto education resource Coin Bureau, wrote in an X post Wednesday.
“Breaking below that means we head to a bear market low target. The area to watch here $55.7k – $58.2k. That’s just between the average realised price of all coins & the 200w MA. That should be the bottom.”
Puckrin referenced the 200-week simple moving average (SMA), which forms a $10,000-wide support band with the EMA equivalent, data from TradingView shows.
Trader Altcoin Sherpa, meanwhile, said that it would “make sense” for the price to drop to at least the 200-week EMA.
on 1 hand it makes sense for $BTC to tap the 200W EMA, an indicator that hasn’t been touched since 2023. This would be around 68k.
On the other, this is still an interesting level as the 2025 low.
Either way, the bottom is closer than we think imo pic.twitter.com/93DO4s4qlu
— Altcoin Sherpa (@AltcoinSherpa) February 4, 2026
“Every time Bitcoin has lost 100W EMA, it has retested the 200W EMA,” trader BitBull continued on the topic.
“Right now, 200W EMA is at $68,000 and this will most likely be retested. Once the retest happens, you could start accumulating for the long-term.”
Bitcoin investors resist full capitulation
Other market synopses are also offering hope to panicking BTC investors.
Related: BTC price heads back to 2021: Five things to know in Bitcoin this week
Fresh analysis released Tuesday by Matt Hougan, chief investment officer of crypto asset manager Bitwise, predicted that the current “crypto winter” would soon be over.
“Retail crypto has been in a brutal winter since January 2025. Institutions just papered over that truth for certain assets for a while,” he argued, noting that the average “winter” lasted around 14 months.
Cointelegraph further reported on strong conviction among Bitcoin derivatives traders after enduring a drawdown of more than 40%.
The US spot Bitcoin exchange-traded funds (ETFs) have seen net outflows of $3.2 billion since mid-January — just 3% of their total assets under management.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. While we strive to provide accurate and timely information, Cointelegraph does not guarantee the accuracy, completeness, or reliability of any information in this article. This article may contain forward-looking statements that are subject to risks and uncertainties. Cointelegraph will not be liable for any loss or damage arising from your reliance on this information.
CoinDesk Indices presents its daily market update, highlighting the performance of leaders and laggards in the CoinDesk 20 Index.
The CoinDesk 20 is currently trading at 2201.13, down 1.9% (-43.33) since 4 p.m. ET on Tuesday.
One of 20 assets is trading higher.
Leaders: CRO (+1.4%) and HBAR (-0.4%).
Laggards: SOL (-5.3%) and UNI (-3.6%).
The CoinDesk 20 is a broad-based index traded on multiple platforms in several regions globally.
TLDR
- Tesla stock was flat at $421.80 on Wednesday as investors awaited developments on the Optimus humanoid robot with production planned for 2026.
- An X poll showed Optimus winning as investors’ most anticipated Tesla product for the year, beating Cybercab and semi-truck options.
- Tesla is converting its Fremont Model S and Model X production space into an Optimus factory targeting one million units annually.
- The company will discontinue the Model S and Model X to make room for Optimus production lines at the California facility.
- Tesla stock trades at 259 times earnings with a $1.4 trillion market cap as the company transitions from electric vehicles to AI robotics.
Tesla stock held steady at $421.80 on Wednesday morning. The lack of movement came as investors digested recent developments around the company’s humanoid robot project.
S&P 500 and Dow futures traded higher by 0.3% and 0.2% respectively. No analyst rating changes or price target adjustments hit the stock during the session.
The most interesting development came from social media. A poll on X asked investors which Tesla product excited them most for the year ahead.
Optimus won by a landslide. The humanoid robot beat out the Cybercab, semi-truck, and stationary storage in voting. Over 16,000 votes were tallied by early Wednesday.
The poll reflects growing anticipation around Tesla’s robotics push. CEO Elon Musk has repeatedly called Optimus the company’s future.
A Factory Transformation Underway
Musk outlined specific plans during Tesla’s January 28 earnings call. The company will convert Model S and Model X production space at its Fremont, California factory.
That space will become an Optimus manufacturing facility. The long-term target is one million robot units per year from that location alone.
Production should begin in 2026. Musk said Tesla plans to unveil the third generation robot in “a few months.”
The decision to retire legacy vehicle models shows serious commitment. Model S and Model X currently represent a small portion of Tesla’s sales. But discontinuing them marks a clear pivot point for the company.
Tesla is moving resources from traditional electric vehicles to AI-powered products. This includes both Optimus and the Robotaxi ride-hailing service.
The Numbers Tell a Stretched Story
Tesla’s market cap sits at $1.4 trillion. The stock trades at $430 per share based on recent pricing.
The company finished its 2025 fiscal year with non-GAAP earnings of $1.66 per share. That puts the stock at 259 times earnings.
Analysts project earnings of $2.12 per share for 2026. They forecast $3.00 per share by 2027. Even using those future estimates, Tesla trades above 100 times earnings two years out.
Tesla stock has gained 10% over the past 12 months. But it dropped about 2% following the January earnings report.
The earnings call generated one downgrade from Battleroad Research analyst Ben Rose. He cited higher capital spending on AI projects as a concern.
Tesla plans to spend $20 billion on new plants and equipment in 2026. That’s up from less than $9 billion in 2025.
The average analyst price target rose by about $4 after earnings. That increase represents less than 1% movement.
Experts believe the humanoid robotics market could reach $5 trillion by 2050. Musk wants Tesla positioned as an early mover in that space.
Other companies are already training humanoid robots for factory work. Some industry watchers speculate Optimus could perform real-world applications later in 2026.
Tesla’s vehicle business has declined as the company shifts focus. Musk appears comfortable with this transition.
The stock reflects a loyal shareholder base willing to wait for long-term potential. Whether current prices leave room for near-term gains remains unclear.
Tesla plans to unveil the third generation Optimus robot in the coming months.
Hong Kong is not waiting for consensus. The Hong Kong Monetary Authority is shifting from rulemaking to licensing, which changes the game for anyone planning a regulated stablecoin.
If you are a bank, fintech leader, or institutional issuer considering a compliant launch, this guide explains exactly what the HKMA will test, what delays or blocks approval, and how to structure stablecoin development for long-term regulatory confidence. This is written for decision-makers who want clarity, not speculation.
Why Hong Kong’s Stablecoin Licensing Framework Changes Everything
Hong Kong is moving from regulatory intent to execution. According to a recent update reported by Yahoo Finance, the Hong Kong Monetary Authority is preparing to approve its first batch of stablecoin issuer licenses, with only a limited number of applicants expected to clear the initial review. This confirms that Hong Kong is not opening the market broadly. It intentionally selects issuers that demonstrate financial resilience, governance maturity, and operational readiness.
For enterprise and institutional issuers, this is a constructive shift. A selective licensing regime reduces uncertainty, limits regulatory arbitrage, and establishes a clear standard for what qualifies as a credible stablecoin issuer. Rather than competing in an overcrowded and loosely governed market, serious players now operate in an environment designed to reward discipline and long-term viability.
The illustrative licensing funnel above highlights how this framework reshapes competition. While interest in stablecoin issuance remains strong, only issuers with robust governance structures, compliant custody arrangements, and clearly defensible reserve models are likely to progress beyond the first regulatory filter. This changes how stablecoin development must be approached. Development is no longer a technical build followed by regulatory review. Licensing expectations now influence system architecture, reserve design, custody strategy, and operational controls from the earliest planning stages.
In practical terms, Hong Kong’s framework does not just regulate stablecoins. It determines who is qualified to participate in the market at all. Understanding what regulators evaluate next is therefore essential for any issuer aiming to move forward with confidence.
Not sure if your model meets HKMA standards? Get a regulatory alignment review before formal submission.
Understanding HKMA’s Expectations: What Regulators Actually Look For
HKMA’s licensing regime is more than a badge of approval. It defines how stablecoin development must be structured, governed, and operated within a regulated financial environment.
1. Clear Licensing Requirement
From 1 August 2025, the Stablecoins Ordinance took effect in Hong Kong. The regime requires authorization for parties carrying on regulated stablecoin activities in Hong Kong and, in certain cases, for issuers of Hong Kong dollar-referenced stablecoins issued offshore. A valid license from the HKMA is required to operate without enforcement risk.
2. Governance and Accountability
Issuers must demonstrate strong corporate governance with clearly defined accountability for financial, legal, and technology risk. Boards and senior management are expected to have direct responsibility for oversight and compliance. Anonymous or loosely coordinated governance structures do not meet HKMA expectations.
3. Full Reserve Backing and Transparency
Under the HKMA’s supervisory guidelines:
- Reserve assets must at all times equal or exceed the value of stablecoins in circulation.
- Reserve holdings must be disclosed and supported by regular independent attestations or audits.
- Custody arrangements must legally segregate reserve assets and protect them from creditor claims and misuse.
These requirements ensure that stablecoins operate as financial instruments with predictable backing and certainty of redemption.
4. AML and Operational Compliance
HKMA’s AML and counter-terrorist financing guidelines apply to licensed stablecoin issuers and include travel rule and operational AML controls. Issuers are expected to demonstrate compliance readiness before launch, not after issuance.
Taken together, these expectations place stablecoin development services firmly within institutional finance, where issuers must withstand detailed regulatory scrutiny across governance, reserves, custody, and operations.
Why Custody and Reserves Are the Real Differentiators
Custody and reserves determine whether a stablecoin is trusted or questioned. From a regulatory standpoint, the central concern is the protection of user funds. Reserve assets must be legally segregated, protected from issuer insolvency, and held in a manner that allows timely redemption under all conditions. Custody arrangements must clearly define who controls reserve assets, how access is governed, and how conflicts of interest are avoided. These structures are reviewed closely because they directly impact systemic risk. This is where an experienced stablecoin development company adds value beyond code delivery. Designing compliant custody and reserve frameworks requires coordination between legal, financial, and technical teams. Errors in this layer are costly and difficult to reverse once a licensing review begins.
Key Failure Points in HKMA Stablecoin Applications
Most stablecoin applications do not fail because of weak technology. They fail because regulators identify structural and operational risks that issuers underestimate.
The most common failure points include:
- Late Regulatory Alignment: Applications stall when licensing considerations are addressed after development. HKMA expects regulatory intent to be reflected in system architecture, governance, and operating models from the outset.
- Inadequate Custody and Reserve Controls: Weak reserve segregation, unclear custodian responsibilities, or redemption mechanisms that are not stress-tested raise immediate red flags during review.
- Unclear Issuer Accountability: Applications falter when decision-making authority, risk ownership, or compliance responsibility is diffused or insufficiently documented.
- Operational Immaturity: Lack of audit readiness, untested reporting workflows, and limited incident response planning signal that the issuer is not prepared for regulated operations.
These failure points are rarely isolated issues. They are symptoms of an unclear execution strategy. For issuers pursuing regulated stablecoin development in Hong Kong, success depends on following a clear, compliance-led roadmap that aligns regulatory expectations, technical design, and operational readiness from the very beginning.
Turn this framework into an actionable plan for your team.
A Roadmap: From Concept to HKMA-Ready Stablecoin Development
Issuers that succeed in regulated markets follow a structured and disciplined roadmap. Rather than treating licensing as a post-launch task, they align strategy, compliance, and execution from the outset, often in collaboration with an experienced stablecoin development company that understands regulatory expectations.
Phase 1: Regulatory Assessment: The first step is determining whether the proposed stablecoin activity falls within HKMA’s licensing scope. This includes analyzing the token’s reference currency, distribution model, and target users, as well as identifying any cross-border implications under the Stablecoins Ordinance.
Phase 2: Compliance-Aligned Architecture: Once licensing applicability is clear, development must align with regulatory expectations. This includes smart contract logic tied to reserve controls, audit-ready reporting systems, custody workflows, and AML compliance mechanisms designed to meet HKMA standards from day one.
Phase 3: Operational Validation: Before applying for a license, issuers should conduct internal stress testing, simulate redemption scenarios, and validate reporting processes. Operational readiness is as important as technical correctness, particularly under regulatory review.
Phase 4: Licensing and Ongoing Governance: Licensing is not the end of the process. Approved issuers are expected to maintain continuous compliance, governance oversight, and transparent communication with regulators as part of ongoing supervision.
Well-designed stablecoin development solutions reduce friction across every stage of this journey, helping issuers move from concept to regulated issuance with confidence and clarity.
Choosing the Right Development Partner Matters More Than Ever
- The development partner directly impacts HKMA licensing outcomes, not just technical delivery.
- HKMA reviews governance maturity, reserve design, custody controls, and operational discipline alongside code quality.
- Partners that treat compliance as a post-build task increase approval risk and rework costs.
- A capable stablecoin development company embeds regulatory alignment into its architecture from day one.
- Experienced firms reduce licensing friction by aligning technical execution with HKMA expectations.
- The right partner helps issuers remain license-ready throughout development, regulatory review, and post-approval operations.
This makes the final decision clear. In Hong Kong’s regulated market, choosing the right partner is not a technical choice. It is a licensing decision.
Final Thought: Regulation Is the Filter, Not the Finish Line
Hong Kong’s regulatory framework makes one thing clear. Stablecoin initiatives will succeed only if they are designed for licensing, governance, and operational resilience from the start. For serious issuers, stablecoin development is no longer about speed or experimentation. It is about execution that withstands regulatory scrutiny.
This is where partnering with Antier creates a clear advantage. As a trusted stablecoin development company, Antier delivers enterprise-grade Stablecoin Development Services and stablecoin development solutions aligned with HKMA requirements, helping issuers move from concept to compliant launch with confidence.
Ready to launch an HKMA-ready stablecoin? Talk to Antier and start with clarity, compliance, and control.
Since the publication of the Bitcoin whitepaper in 2008, crypto has offered the promise of open accessibility, neutral rules, and verifiability for everyone. While crypto has continued to hold true to this mission, trading platforms have since departed from this universal truth. Hidden restrictions, inconsistent withdrawals and shifting rules have eroded trust and created a system where true ownership is no longer a guarantee.
Eighteen years later, traders have learned to understand that fairness isn’t just a selling point, rather a system that needs to be verified. The next phase of crypto depends on systems where fairness is designed into the architecture itself, not retroactively justified.
It’s this promise and verifiability that rests as the core mission of Zoomex: a global crypto exchange that’s been trusted for over five years. From day one, Zoomex was built around a simple but increasingly rare belief that fairness must be felt, consistently delivered and provable at every step of the trading journey.
When fairness is designed into the system, users don’t need to ask for trust, they can verify it.
Fairness beyond marketing
Fairness often appears in slogans, but the culture of “trust me, bro” has made efforts feel more performative than practiced. But when fairness is embedded into a platform’s system, users get an experience that’s more than just marketing.
Zoomex has built fairness into its foundation, structuring the user experience around clear trading rules, transparent asset visibility and execution logic that behaves predictably across users and market conditions. Instead of relying on discretionary decisions or hidden exceptions, the platform emphasizes consistency. Regardless of how much crypto you hold, whether you’re a new or frequent holder, or simply looking for a long-term Dollar-Cost Averaging (DCA) opportunity, the same rules apply to all users.
This matters because most trading platform failures are not based on the underlying technology. They’re systematic. Exchanges don’t collapse because orders cannot be matched, rather they fail when friction makes rules unclear, access is restricted or users lose trust in the system.
By prioritizing clarity over complexity, Zoomex positions fairness not as an abstract value, but as a systematic guarantee.
Profit as a priority
There’s no single indication of fairness bigger than withdrawals. In the wake of FTX and other exchange mishaps, users have learned to ask the difficult questions:
- “Can my profits be withdrawn?”
- “Am I an exception to this rule?
These aren’t hypothetical questions. They reflect the learned and lived experience of any crypto trader.
Zoomex’s design starts from a different assumption: Earnings belong to the user, without friction or negotiation. Withdrawals are not framed as privileges or incentives, but as a baseline right of participation. It doesn’t matter if you hold 1 BTC or 0.00001 BTC – what matters is your participation in the network.
This principle has been reinforced by independent media coverage, including user case studies documenting successful large withdrawals. On X and in the media, Zoomex users have documented real-world proof that access holds up regardless of market conditions. Fairness, in this context, is measured not by what a platform claims, but by whether users can reliably convert trading success into usable capital.
Transparency as a system, not a dashboard
When it comes to transparency on centralized exchanges, users are often left to surface-level disclosures to determine the security of their assets.Transparency on trading platforms is important to reduce information asymmetry, ensuring that users understand how their assets are traded and secured, and why conditions affect their assets.
Zoomex emphasizes transparent asset displays, traceable order execution and clear reporting of outcomes. The goal is to give the essential information to traders. Though disclosures may feel overbearing, it’s designed for intelligent market decisions, allowing traders to see their positions, execute on strategies and see their decision outcomes without ambiguity.
This approach aligns with a growing demand among experienced traders and institutional players who evaluate platforms based on structure, consistency and fairness. In this model, transparency is not a static feature, it’s a continuous system of visibility that supports informed decision-making.
Related: What “Proof Over Promises” Means in Practice
Even among institutional-grade traders, transparency needs to come with a degree of simplicity. Often complexity is mistaken for sophistication, but Zoomex understands that simplicity and sophistication are not mutually exclusive.
Zoomex’s minimalist design strips away unnecessary friction while preserving professional-grade functionality. Execution flows are streamlined, interfaces are intuitive and rules are legible. This is not about reducing capability, but instead reducing the cognitive load so both institutional and retail traders are able to clearly execute their trades with the confidence they need.
Regulatory certainty as a priority
One of the biggest hurdles of wide-spread adoption for crypto is regulatory clarity. As countries continue to evolve their legal frameworks, traders have been best supported by trading platforms that have been forward thinking about regulation, not reactive. However, there needs to be a balance of what is necessary and what is excessively cumbersome for users to make their trades with confidence. Zoomex addresses this by offering optional KYC, allowing privacy-sensitive traders to participate without unnecessary barriers while still operating within a compliant framework.
This approach reflects a broader definition of fairness: respecting different user needs rather than imposing uniform identity requirements where they are not legally required. Fair systems expand access without compromising oversight, making regulatory compliance as a feature, not a roadblock.
This framework has been battle-tested and has stood the test of time through both bear and bull markets. Zoomex has withstood five years of stable operation, regulatory licensing across multiple jurisdictions and annual security audits conducted by independent firms such as Hacken.
Privacy and compliance are more than just a marketing objective. Zoomex holds registrations including Canada Money Service Business (MSB), United States MSB and NFA and Australia AUSTRAC license, reinforcing its commitment to creating a system of precise fairness and consistency, regardless of your jurisdiction.
Related: Zoomex expands derivatives offering and launches new initiatives for European users
Trust is not just built in the bull market, but during periods of stress. Platforms like Zoomex that maintain fairness through bull and bear markets are the ones that endure.
From the first trade to the latest withdrawal, fairness on Zoomex is experienced, not explained.
Zoomex is building precise systems of fairness and transparency – cultivating partnerships, international compliance and operational decisions that consistently reinforce values of precision and fairness. The result is a platform designed not just to perform, but to hold up under scrutiny and survive in all market conditions.
As the crypto industry continues to mature, trading platforms will continue to be judged based on their integrated systems, not just their marketed promises. As fairness becomes a design requirement, and not just a press release, Zoomex is prepared to be the platform that is ready for both institutional-focused and retail traders.
Sign up on Zoomex and explore a trading system where fairness, transparency and access are built into every layer. New users can receive up to 14,000 USDT in welcome rewar
BMNR stock price remains under pressure in early February as selling continues across crypto-linked equities. The stock is down nearly 25% over five days and more than 33% over one month, trading around $22.35.
While management defended recent crypto-led paper losses as part of a long-term strategy, market data suggests technical weakness is still driving investor behavior. And increasingly driving them away, despite a novel defense from BitMine Chairman, Tom Lee.
Ethereum Treasury Losses Spark ‘Feature, Not A Bug’ Defense
Concerns around BitMine’s balance sheet intensified after data showed heavy unrealized losses on its Ethereum treasury.
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As of February 3, BitMine had invested roughly $14.95 billion into ETH holdings. However, the current market value had fallen to around $8.53 billion, implying paper losses of more than $6.4 billion.
At the same time, Ethereum was trading near $2,200, well below BitMine’s average acquisition cost of roughly $3,800. This gap highlighted how deeply underwater the company’s treasury had become.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
These figures triggered criticism from market observers, who argued that such large unrealized losses could limit future upside and pressure shareholder returns. Some warned that accumulated ETH could eventually act as a selling supply.
In response, Chairman Tom Lee defended the strategy, stating that drawdowns are “a feature, not a bug.” He argued that crypto cycles naturally involve temporary losses and that BitMine is designed to accumulate through downturns to outperform over time.
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However, despite this explanation, BMNR stock failed to attract sustained buying interest after the comments.
OBV and CMF Show Buyers Stayed Away After the Breakdown
Market participation data suggests that investors began exiting even before the public debate intensified.
On-Balance Volume (OBV) tracks cumulative buying and selling pressure by adding volume on up days and subtracting it on down days. It reflects whether traders are accumulating or distributing.
From early December through late-January, OBV was forming higher lows, signaling steady accumulation. But between January 28 and 29, OBV broke below its rising trend line. This showed that possibly retail and short-term traders had started distributing shares.
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After OBV weakened, institutional-style capital followed.
Chaikin Money Flow (CMF) measures whether money is flowing into or out of an asset using price and volume. Readings above zero suggest accumulation, while negative values signal capital outflows.
From January 30 onward, CMF fell sharply and remained below zero. This confirmed that large buyers were reducing exposure as the BMNR price approached key support. Both indicators aligned with the chart structure.
BMNR had been forming a head-and-shoulders pattern through December and January. When price failed near the neckline and then broke down on February 2 (gap-down formation), OBV and CMF confirmed the move.
In sequence, retail volume weakened first, large capital exited next, and prices collapsed afterward. The “feature, not a bug” ETH treasury narrative did not reverse this flow-driven sell-off.
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Key BMNR Stock Price Levels Define the Next Move
After breaking the head-and-shoulders neckline and the rising trend line, the BMNR stock price resumed its broader downtrend, a projected dip of over 30%.
Several levels now define the outlook. On the downside, initial support sits near $19.26 if the BMNR stock price doesn’t reclaim $22.52 on the daily timeframe. Below $19.26, the next major level stands near $16.71, which aligns with the full technical projection of the bearish pattern.
If selling pressure accelerates, extended downside could reach toward $9.87, pushing the stock into single-digit territory. On the upside, recovery remains difficult.
The first resistance lies near $22.52. The BMNR stock price must reclaim this level to slow the decline. Above that, resistance appears near $25.07 and $28.66. These zones would need to be cleared to signal early stabilization.
A broader trend shift would require a move above $34.46, followed by confirmation near $42. For now, both OBV and CMF remain weak, showing that buyers have not returned in force. Until capital flows turn positive and key resistance is reclaimed, technical pressure is likely to dominate BMNR stock price behavior.
Blockchain intelligence platform TRM Labs completed a $70 million Series C funding round, valuing it at $1 billion, becoming the latest crypto company to reach unicorn status.
The investment round was led by seed investor Blockchain Capital, with participation from Goldman Sachs, Bessemer Venture Partners, Brevan Howard Digital, Thoma Bravo, Citi Ventures and Galaxy Ventures, according to a Wednesday news release.
TRM Labs seeks to equip public and private institutions with AI solutions that combat cybercrime. The company defends against illicit activities that increasingly rely on automation.
“At TRM, we’re building AI for problems that have real consequences for public safety, financial integrity, and national security,” wrote Esteban Castaño, co-founder and CEO of TRM Labs.
“This funding allows our world-class team — and the people who will join us next — to innovate alongside institutions on the front lines of the most consequential threats, and expand the potential of AI to meaningfully improve how our critical systems are protected.”
The $70 million round shows that capital is flowing into blockchain analytics platforms seeking to stop the spread of AI-fueled scams and cyberattacks, including from large traditional institutions.
Related: Fake MetaMask 2FA security checks lure users into sharing recovery phrases
TRM Labs to expand global workforce, advance AI compliance and investigation tools
TRM is a San Francisco-headquartered company with hubs in Los Angeles, New York, Washington, London and Singapore.
It said the new capital will be used to expand its global workforce of AI researchers, data scientists, engineers and financial crime experts.
The company will also advance its AI-powered investigations to disrupt illicit activity and advance its solutions that help institutions manage financial crime risks.
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Crypto phishing scams see resurgence due to generative AI advancements
Crypto phishing scams have been a long-standing issue in the industry, which saw a resurgence following advancements in generative AI. They involve hackers sharing fraudulent links with victims to steal sensitive information, such as crypto wallet private keys.
In December, a Bitcoin (BTC) investor lost his entire retirement fund to an AI-fueled romance scam known as a “pig butchering.” In this case, the scammer used AI-generated images to emotionally manipulate the victim into sending over his Bitcoin.
Still, the falling number of incidents suggests that investors are becoming better at safeguarding their assets from attackers.
Losses to phishing scams decreased 83% year-on-year, falling to $83.3 million in 2025, from $494 million in 2024, according to a report from Web3 security tool Scam Sniffer
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