The “Drake curse” is back again.

The Canadian musician Aubrey Drake Graham, better known as Drake, suffered a substantial crypto loss after betting on the outcome of the Super Bowl.

Over the years, he parted with millions of dollars worth of Bitcoin (BTC) on bets he publicly shared, as the teams he backed in football, basketball, and other sports often ended up losing.

Drake’s Latest Crypto Loss

The Super Bowl – one of the most-watched sporting events across the globe – was held on February 8 and offered a great show for the spectators. The arena of the match was Levi’s Stadium, while the two teams competing for the title were the Seattle Seahawks and the New England Patriots.

This particular match is usually the most heavily bet-on single sporting event in the United States. One popular person who tried his luck on it was the rapper Drake.

He revealed on his personal Instagram account that he wagered a whopping $1 million worth of Bitcoin (BTC) on the New England Patriots to win the game.

The odds were set at 2.95, meaning Drake would have made a profit of almost $2 million worth of the cryptocurrency had the team been victorious. Unfortunately for him, the Seattle Seahawks became champions after beating their opponents 29-13.

The Previous Bets

While the musician seems to be a huge fan of betting on various sports events, he rarely picks the right horse. In 2022, he wagered a little over $600,000 worth of BTC on the English football club Arsenal to beat Leeds United and on FC Barcelona to win “El Clásico” versus its biggest rival, Real Madrid. The team from Spain’s capital won the game, leaving Drake to taste defeat once again.

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At the start of 2024, the Canadian tried his luck with UFC, betting $700,000 worth of BTC on Sean Strickland to beat Dricus du Plessis. The latter, though, won after a split decision from the judges.

Several months later, he tried a really risky bet. He wagered $300,000 in the primary cryptocurrency on Canada’s national football team to win against the reigning world champion Argentina. The odds for the North American country were almost 10, meaning Drake would have made a substantial profit. Somewhat expectedly, however, the team captained by Lionel Messi won by 2-0.

Those losses (and many more) over the years gave rise to the so-called “Drake curse.” It is a popular Internet meme that refers to the pattern where the rapper publicly supports or bets on a club or athlete, only for them to lose in the aftermath.

Israel’s nascent digital-asset sector is pressing for regulatory clarity and a more supportive footing for innovation. At a Tel Aviv gathering in early February, the Israeli Crypto Blockchain & Web 3.0 Companies Forum unveiled a lobbying drive aimed at reshaping the regulatory regime for stablecoins, tokenization, and tax treatment of tokenized assets. The push is anchored by research from KPMG, which the organizers say could add about 120 billion shekels ($38.36 billion) to the economy by 2035 and help create roughly 70,000 jobs. With policymakers signaling that 2026 could be a turning point for the local crypto scene in the wake of a US-brokered Gaza ceasefire, advocates argue a more permissive framework would unlock a wave of investment and innovation while delivering clearer compliance pathways for businesses.

Key takeaways

• The Forum’s agenda centers on easing rules around stablecoins and the tokenization of assets, alongside simplifying tax compliance for digital assets.
• KPMG’s research, cited by the organizers, projects a potential economic boost of 120 billion shekels by 2035 and the creation of about 70,000 jobs if reforms materialize.
• Public engagement on crypto is already solid in Israel, with estimates suggesting more than 25% of the population having crypto dealings in the last five years and over 20% currently holding digital assets.
• Banking frictions persist, with local financial institutions reportedly cautious about crypto clients and due diligence processes that can slow even legitimate funding.
• A national strategy framework endorsed by lawmakers and government agencies envisions a unified regulator, clear token issuance rules, and closer banking integration as core pillars.
• Broader market context shows steady growth in Israel’s crypto economy, influenced by regional dynamics and post-crisis policy shifts in the wider Middle East.

Sentiment: Neutral

Market context: The push aligns with a broader push in the region toward regulatory clarity for digital assets, as policymakers weigh the balance between innovation and consumer protection. The discussion follows a period of heightened activity in the global crypto space, with regulatory developments and institutional engagement shaping investment flows and product development.

Why it matters

The Israeli Forum’s lobbying effort spotlights a longer arc of policy maturation for digital assets in a country often cited for its deep fintech ecosystem. If the proposed reforms—ranging from tax treatment to token issuance and stablecoin regulation—are enacted, the immediate effect could be a more predictable operating environment for startups and fintechs that already anchor their research and development in Tel Aviv and surrounding hubs. Fireblocks and Starkware, two prominent players in the local crypto ecosystem, figure among the Forum’s sponsors, underscoring the scale of institutional interest in Israel’s ability to convert regulatory clarity into competitive advantage.

Underlying the push is a data-backed argument about public sentiment and ownership. A substantial share of Israelis have engaged with crypto: more than a quarter of the population has interacted with crypto markets in the last five years, and a significant portion remains actively invested in digital assets. Proponents contend that a clearer framework would lower compliance costs, reduce friction with banks, and attract both domestic and international capital. This is not just about niche tech; it is about turning Israel’s fintech strengths into a robust, globally integrated digital assets sector that can attract venture funding and talent while providing tax and regulatory certainty for participants.

On the policy front, the conversation sits within a broader national strategy. In mid-year, Israel’s National Crypto Strategy Committee presented an interim report to the Knesset, outlining a five-pillar framework that envisions a unified regulator, concrete rules for token issuance, and banking integration as central elements. The Government’s stance toward crypto taxation also evolved in August with the Tax Authority introducing a voluntary disclosure procedure intended to offer a path for taxpayers to come forward with previously undisclosed digital-asset income and assets, in exchange for immunity from criminal proceedings. Officials have acknowledged, however, that participation has fallen short of expectations, even as authorities pledged to push the program through to the end of August 2026. The Tax Authority’s leadership has stressed that the banking sector, which remains wary of cryptocurrency, contributes to the broader challenge of converting voluntary disclosures into practical liquidity for participants.

Beyond national borders, the story intersects with global peers pursuing tokenization and DLT pilots. A related body of work highlights how European pilots and U.S. momentum are shaping the international environment for token-based finance and on-chain markets. While Israel charts its own course, the regional and global context provides a backdrop for what the country is attempting to achieve: a stable, scalable environment in which digital assets can grow responsibly while delivering tangible economic benefits.

The broader narrative also reflects a bifurcated reality in which innovation and risk management must advance together. On one hand, the sector seeks predictable tax rules, a clear regulatory sandbox, and simpler compliance regimes. On the other hand, regulators are tasked with safeguarding consumers and preserving financial stability in the face of rapid innovation. The balance Israel pursues will influence not only domestic growth but its standing as a hub for crypto engineering, tokenized financial services, and cross-border collaboration in a global market that has become increasingly sensitive to regulatory signals.

What to watch next

• Parliamentary review and potential amendments to the National Crypto Strategy Committee’s interim framework, including expected legislative steps in 2026.
• Formalization of token issuance rules and a roadmap for banking integration within Israel’s financial system.
• Updates to the Voluntary Disclosure Procedure, including participation metrics and the timeline for broader outreach beyond August 2026.
• Regulatory guidance on stablecoins and tokenized assets that clarifies custody, settlement, and consumer protection standards.

Sources & verification

• Israeli Forum event materials and statements from Nir Hirshman-Rub, February Tel Aviv gathering.
• KPMG research cited by the Forum outlining potential economic impact from regulatory reforms.
• Chainalysis report on the Middle East and North Africa crypto adoption and Israel’s crypto economy trajectory.
• Startup Nation Central data on Israel’s fintech and digital-asset startups, funding, and employment.
• Israel Tax Authority Voluntary Disclosure Procedure page and related coverage in Globes on participation levels.
• National Crypto Strategy Committee interim report to the Knesset and related policy discussions.
• Post-conflict policy references and industry commentary on the Gaza ceasefire and its regulatory implications.

Israel’s regulatory push could redefine the digital asset landscape

Israel’s digital-asset sector stands at a crossroads where policy design could either accelerate growth or slow down momentum built in a vibrant fintech ecosystem. The Forum’s campaign to ease stablecoin and tokenization rules, coupled with streamlined tax treatment, frames a pragmatic path toward scaling innovation while maintaining appropriate guardrails. The numbers backing the push—120 billion shekels in potential economic impact by 2035 and roughly 70,000 new jobs—are meant to illustrate the scale of opportunity that could accompany a well-calibrated regulatory regime. They rest on a foundation provided by KPMG’s research, which the Forum cites as a basis for a policy package that would reduce ambiguity, lower compliance costs, and attract capital.

However, the journey from advocacy to enacted policy is mediated by a complex web of stakeholders. Banks, prosecutors, and tax authorities all play a role in shaping how crypto businesses operate in practice. The banking sector, in particular, has historically shown caution toward crypto-related clients, with due-diligence processes that can feel prohibitive for emerging firms. Executives note that such frictions, if not addressed through clear regulatory language and robust consumer protections, can impede the flow of funds needed to scale projects and attract international partners. The ongoing dialogue between policymakers and industry participants suggests a willingness to align incentives, but implementation remains contingent on legislative debate and regulatory clarity.

In this context, Israel’s broader strategy—especially the five-pillar framework proposed by the National Crypto Strategy Committee—reads as a blueprint for sustainable growth. A unified regulator, explicit token issuance guidelines, and a plan to integrate banking services with digital-asset activities could reduce fragmentation and build confidence among entrepreneurs and investors alike. Meanwhile, the voluntary disclosure program highlights the government’s intent to formalize a safe channel for asset reporting, even as participation metrics and enforcement timelines indicate that outreach and uptake will be critical in the months ahead. The interplay between domestic policy, corporate innovation, and international perception will shape whether Israel becomes a regional hub for tokenization and crypto engineering or a cautionary tale of regulatory churn.

In the near term, observers will watch for concrete policy moves and parliamentary momentum. The post-2026 regulatory environment will likely hinge on how quickly the nation can translate strategy into risk-managed products and services. The evolving stance on stablecoins, the mechanics of token issuance, and the practical cross-border implications of a unified regulator will all influence investment appetite and the pace of product development. As regional players and global incumbents refine their own regulatory playbooks, Israel’s path could serve as a useful case study in balancing innovation with oversight, and in translating theoretical economic gains into tangible benefits for citizens and businesses alike.

The Bitcoin price is struggling amid persistent selling pressure in the crypto market. Key support and resistance levels are under scrutiny as traders weigh the next move.

This Bitcoin price prediction assesses the market’s current structure, potential upward moves, and downside risks.

Current market scenario

As of February 9, Bitcoin (BTC) is trading near $68,388.46, down about 2.73% over the past 24 hours. Price remains range-bound between $68,000 and $70,000, signaling consolidation after the volatility earlier this year. Strong buying near $60,000 has highlighted the market’s resilience despite the recent pullback.

The current correction followed a rejection near $97,900 in January, marking a local high and cooling short-term momentum. While traders have become more cautious, the broader bullish structure on higher timeframes remains intact.

Sentiment is mixed. Retail traders are largely bearish, while large holders continue to accumulate according to on-chain data. Historically, extreme negative sentiment has often been a contrarian signal, making this period especially relevant for a BTC price prediction.

Upside potential

Bitcoin must break above $74,500 to signal that the bulls are in charge. Achieving this would improve the short-term setup and reduce market pressure.

Until that happens, rallies are likely to be met with selling, keeping the price range-bound for now.

Downside risks

If Bitcoin doesn’t maintain above $69,000, lower support levels are in focus. $66,000 comes first, with $60,000 as the next major line if selling intensifies.

While falling below these levels could trigger short-term panic selling, long-term investors have historically treated these dips as strategic buying opportunities near important price points.

Bitcoin price prediction based on current levels

To wrap it up, this Bitcoin price prediction is about waiting for confirmation rather than guessing the next move. Bitcoin is still consolidating in a key range, which means there’s room for both upside and further downside. Short-term technicals are fragile, but whale accumulation and extreme bearish sentiment suggest selling pressure may be easing.

XRP leads year-to-date inflows with $109M, while Chainlink and Litecoin register modest gains.

Investors withdrew $187 million from digital asset products last week, but the pace of outflows has slowed significantly. Historically, these changes reveal crucial inflection points in investor sentiment.

CoinShares stated that the deceleration suggests that panic selling may be subsiding, which may imply that the market could be stabilizing and that a potential low point in crypto prices might be forming.

Altcoins Outshine Bitcoin

In its latest edition of Digital Asset Fund Flows Weekly Report, CoinShares revealed that the latest price correction pushed total assets under management (AuM) down to $129.8 billion, the lowest level since the announcement of US tariffs in March 2025, which also coincided with a local low in asset prices. Trading activity surged last week, which drove exchange-traded product (ETP) volumes to a record-breaking $63.1 billion.

This figure exceeded the previous peak of $56.4 billion recorded in October of the prior year. The strong activity indicates increased investor interest and momentum.

Investor sentiment was negative for Bitcoin, which experienced $264 million in outflows, alongside $11.6 million moving out of short positions. On the other hand, altcoins attracted fresh capital, as XRP led with $63.1 million, Solana $8.2 million, and Ethereum $5.3 million. XRP continues to dominate year-to-date inflows, recording $109 million. Chainlink and Litecoin saw more modest gains of $1.5 million and $1 million.

Additionally, multi-asset products raked in $9.3 million over the past week.

Outflows were concentrated in the US at $214 million, with Sweden at $135 million, and Australia at just $1.2 million. Despite this, other regions experienced meaningful inflows. For instance, Germany received $87.1 million, Switzerland $30.1 million, Canada $21.4 million, Brazil $16.7 million, and Hong Kong $6.8 million. The data highlights a mixed global picture.

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Favorable ETFs and Macro Trends

Price weakness continues as Bitcoin slipped to $69,000 on Sunday and has hovered near that level into Monday. Despite this, Bitget CMO Ignacio Aguirre Franco said that the crypto asset has a path to the $150,000-$180,000 range this year if ETF flows stabilize and macro conditions improve. Ongoing Layer 2 development and growing DeFi activity strengthen Ethereum’s outlook, the exec said while predicting a potential target of $5,000-$6,000 with increased traditional finance participation. Franco added,

“Regulatory developments like the recent Clarity Bill and advancing market-structure legislation will also positively impact crypto markets by providing clearer compliance frameworks that reduce uncertainty and make these assets more attractive to institutions and traditional funds. As institutional capital finds easier entry points and global regulatory alignment improves, overall market stability and innovation are reinforced.”

The Solana price has staged a sharp recovery after a steep decline inside a falling channel. After slipping toward the lower part of that structure, SOL found strong support near $67 in early February and rebounded over 30%. The bounce was fueled by dip buying, possibly by the most hopeful crowd.

At first glance, the rebound looks convincing. But the SOL price is still trapped below major resistance, and on-chain data shows mixed conviction. The market now faces a critical test: whether buyers can turn this bounce into a sustained recovery, or whether selling pressure will return and drag the price lower again.

Dip Buyers Defended Key Support Zone

Solana’s rebound began before the price reached the bottom of its falling channel. Instead, buyers stepped in early near the $67 zone, which acted as an internal support level while the price was still sliding lower.

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On February 6, SOL printed a long lower wick on the daily candle near $67. A long lower wick shows that buyers aggressively absorbed selling pressure and rejected lower prices. This type of candle often appears when demand suddenly strengthens during panic phases.

This behavior was reinforced by the Money Flow Index (MFI). MFI combines price and volume to measure whether money is flowing into or out of an asset. Rising MFI during falling prices usually signals dip accumulation.

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Between December 18 and February 6, Solana’s price trended lower, but MFI trended higher. This bullish divergence showed that capital was steadily entering the market despite the downtrend. In simple terms, buyers were active even while the price was falling.

This early defense of $67 prevented Solana from sliding straight to the channel’s lower boundary. It created the base for the 30% rebound. But early dip buying alone is not enough to sustain a trend. To understand whether this support is durable, we need to see who is holding after the bounce.

Long-Term SOL Holders Are Returning, But Conviction Remains Limited

After the dip, attention shifted to long-term investors.

For this, we look at Hodler Net Position Change (30-day). This metric tracks whether wallets holding SOL for more than 155 days are accumulating or distributing. These investors usually provide the backbone of long-term trends.

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On February 6, long-term holders were adding around 1.88 million SOL. By February 8, this figure had risen to roughly 1.97 million SOL. That represents an increase of about 5% in net accumulation.

This shows that conviction holders have started to return after the crash, aligning with the dip buying strength. That is a constructive signal, because sustainable recoveries rarely happen without their participation.

However, the pace remains slow. In strong recovery phases, long-term accumulation usually accelerates rapidly. Here, buying is cautious and incremental. This suggests that investors are testing the rebound rather than fully committing to it.

Because long-term conviction is still developing, the rebound remains vulnerable. That makes the behavior of short-term traders even more important.

Short-Term Selling Has Eased, But Loss Pressure Has Not Cleared

The 1-Day to 1-Week Holder Cohort, which represents highly reactive wallets, began selling into the bounce. On February 7, this group held about 8.32% of the SOL supply. By February 9, that share had fallen to around 5.40%. This is a nearly 35% decline in just two days, as shown by the HODL Waves data.

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This metric segregates SOL wallets based how long coins have been held.

Despite this selling, the price held most of its gains. This shows that dip buyers, possibly the longer-term investors, absorbed the exits. That is a positive sign. However, another risk remains visible in Short-Term Holder NUPL, which measures whether recent buyers are in profit or loss.

On February 6, NUPL dropped to around -0.95, reflecting extreme losses and panic. After the rebound, it improved to roughly -0.70. That is an improvement of about 26%.

Losses have eased, but short-term holders are still deeply underwater. Historically, early NUPL recoveries often lead to unstable bottoms. Losses have eased too early. If price fails to move higher soon, remaining short-term holders may sell again to avoid deeper drawdowns. That could trigger another wave of pressure. This brings the focus back to the price chart.

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Why $96 Will Decide Whether the Solana Price Bounce Survives or Fails

All technical and on-chain signals now converge around the same area.

Since the rebound, Solana has been trapped between roughly $80 and $96. This range reflects hesitation from both buyers and sellers.

As long as the price stays above $80, the rebound remains intact, despite possible short-term selling. But if $80 breaks, the next major zone sits near $67–$64. A loss of that area would reopen the path toward $41, which represents roughly a 50% downside from current levels and aligns with the broader channel projection.

This is the structural risk that still hangs over the market.

On the upside, $96 remains the most important level, the key test. It acted as strong support before the early February breakdown and now functions as major resistance.

A sustained break above $96 would signal renewed confidence. From there, Solana could target $116 and potentially $148. Without reclaiming this level, bounces are likely to stall. Right now, the price is still below this barrier.

Long-term buying is cautious. Short-term losses have eased too early. Until $96 is reclaimed with strong participation, the rebound lacks confirmation.

Chiliz, the sports and fan engagement blockchain, has unveiled a three-phase roadmap outlining how it plans to expand Fan Tokens ahead of the 2026 FIFA World Cup in the United States. 

The project is making a big return to the US market with new Fan Token launches tied to national teams and broader blockchain expansion. Detailed in its newly released 2030 manifesto, the roadmap positions 2026 as the year Chiliz moves from experimentation to full-scale execution.

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Regulatory Clarity Paves the US Market Re-Entry

The company says it expects to announce its first US Fan Token partnerships in Q1 2026, marking a return after several years of limited activity due to regulatory uncertainty.

In parallel, Chiliz plans to launch Fan Tokens linked to national teams in summer 2026. Unlike club-based tokens, national team Fan Tokens are designed around major tournaments and international competitions. 

With the World Cup approaching, Chiliz is targeting a broader, event-driven fan base beyond traditional club supporters.

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Omnichain Expansion to Unlock DeFi Access

Another major change arriving in 2026 is Chiliz’s move to an omnichain model. Starting in the first quarter, Fan Tokens will be bridged to external blockchains using cross-chain infrastructure.

In simple terms, this allows Fan Tokens to move outside the Chiliz ecosystem and interact with other blockchains. 

The shift is designed to improve liquidity, enable cross-chain trading and arbitrage, and allow Fan Tokens to be used in decentralized finance applications beyond their native network.

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New Tokenomics and Product Upgrades Roll Out Through 2026

In the second quarter of 2026, Chiliz plans to activate a new value-accrual mechanism for its native CHZ token. 

Under the new model, 10% of all Fan Token revenues generated across the ecosystem will be used for ongoing CHZ buybacks. The company says this links CHZ demand directly to fan’s activity.

Product upgrades are also scheduled for mid-2026. 

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Socios.com, the consumer platform behind Fan Tokens, will launch a new version with DeFi wallet integration. 

Later in the year, Chiliz plans to introduce performance-based token mechanics. Match results will directly affect Fan Token supply, with wins triggering token burns and losses leading to new token issuance. 

Beyond 2026, Chiliz’s roadmap shifts toward tokenized real-world assets in sports. From 2027 onward, the company plans to tokenize revenue streams, intellectual property, and other traditionally illiquid sports assets.

The roadmap builds on recent developments across the Chiliz ecosystem, including revenue-linked buyback commitments and a growing focus on infrastructure over short-term price action. 

With the World Cup approaching, Chiliz is betting that Fan Tokens can evolve from engagement tools into a globally traded sports asset class.

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Bitcoin (BTC) pushed back above $71,000 on Monday, after market sentiment indicators across the crypto market dropped to new lows.

Some analysts believed that “extreme fear” and upside liquidity may help Bitcoin hold above its yearly-low at $60,000, but others warned that weak market conditions and bearish futures volume may push prices even lower.

Key takeaways:

• The Crypto Fear & Greed Index dropped to a record low of 7, showing extreme fear in the market.

• More than $5.5 billion in short liquidations above current prices may fuel a rebound.

• Weak price trends and rising derivatives selling may still drag Bitcoin below $60,000.

Sentiment and liquidation suggeset $60,000 remains support

MN Capital founder Michaël van de Poppe said Bitcoin is flashing sentiment readings that have previously marked market bottoms. According to Van De Poppe, the Crypto Fear & Greed Index had dropped to 5 over the weekend (final recorded reading is 7), its lowest reading in history, while the daily relative strength index (RSI) for BTC has fallen to 15, signaling deeply oversold conditions.

These levels were last seen during the 2018 bear market and the March 2020 COVID-19 crash. Van de Poppe said such conditions may allow BTC to exhibit recovery and avoid an immediate retest of the $60,000 level.

CoinGlass data adds to the bullish case. Bitcoin’s liquidation heatmap shows over $5.45 billion in cumulative short liquidations positioned if the price moves roughly $10,000 higher, compared with $2.4 billion in liquidations on a retest of $60,000.

This imbalance suggests that an upward move may trigger forced shorts covering, leading to a BTC rally.

Related: Bitcoin circles $70K as Coinbase Premium sees first green spike in a month

BTC structural weakness keeps downside risks in focus

Data from CryptoQuant shows Bitcoin trading below its 50-day moving average near $87,000, while further below the 200-day moving average around $102,000. This wide gap reflects a corrective or “repricing” phase following the prior rally.

CryptoQuant’s Price Z-Score is also negative at -1.6, indicating BTC is trading below its statistical mean, a sign of selling pressure and trend exhaustion. Such conditions have preceded extended base-building rather than immediate rebounds.

Crypto analyst Darkfost highlighted a growing selling dominance in the derivatives markets. Monthly net taker volume has turned sharply negative at -$272 million on Sunday, while Binance’s taker buy-sell ratio has slipped below 1, signaling a strong selling pressure.

With futures volumes outweighing spot flows at the moment, stronger spot demand is needed to trigger a bullish reaction from BTC.

Adding a longer-term caution, Bitcoin investor Jelle noted that past Bitcoin bear market bottoms formed below the 0.618 Fibonacci retracement. For the current cycle, that level sits near $57,000, with deeper downside scenarios extending toward $42,000 if history repeats.

Related: Saylor’s Strategy buys $90M in Bitcoin as price trades below cost basis