Crypto World
USD1 Stablecoin Surges to $5 Billion Market Cap as Wall Street CEOs Schedule Florida Summit
TLDR:
- USD1 achieved over $5 billion market capitalization within initial phase, ranking among top stablecoins globally.
- Platform recorded $300 million total value locked with yields reaching 13% on USDC and 7% on USD1 holdings.
- Major financial CEOs from Goldman Sachs, Coinbase, Franklin Templeton attend February 18 Mar-a-Lago meeting.
- Developer plans target $9 trillion daily FX market, positioning USD1 as potential settlement infrastructure.
USD1 has reached a market capitalization exceeding $5 billion within its initial phase, positioning itself among the largest stablecoins in the global market.
The token, associated with World Liberty Financial, has attracted attention from traditional finance leaders ahead of a scheduled February 18 gathering at Mar-a-Lago.
Capital flows into the platform have accelerated despite broader market volatility, with early metrics showing substantial total value locked and competitive yield rates.
Platform Metrics Show Early Traction
The stablecoin recorded approximately $300 million in total value locked during its first month of operation. Users can access yield rates reaching around 13 percent on USDC deposits through the platform.
USD1 itself offers roughly 7 percent returns to holders, creating multiple entry points for yield-seeking investors.
A crypto analyst posting under the handle @Eljaboom noted the scale of the project on social media. “Everyone is watching BTC · $68,174.43. Meanwhile, a new dollar rail is quietly forming in Florida,” the analyst wrote. The commentary emphasized that USD1 had moved beyond early-stage development into operational scale.
The platform’s rapid accumulation of locked value demonstrates market appetite for alternative stablecoin infrastructure. Traditional stablecoin markets have been dominated by established players for years.
However, new entrants with institutional backing are now challenging existing market structures through competitive yield offerings and expanded functionality.
World Liberty Financial architect Zak Folkman has discussed plans extending into foreign exchange markets. The global FX market processes approximately $9 trillion in daily transactions, representing a substantial opportunity for blockchain-based settlement infrastructure. If USD1 transitions from a yield-generating token to a settlement layer, its utility could expand considerably.
Institutional Participation and Infrastructure Development
The February 18 event at Mar-a-Lago includes participation from several prominent financial executives. Coinbase CEO Brian Armstrong, Goldman Sachs CEO David Solomon, Franklin Templeton CEO Jenny Johnson, and Cantor Fitzgerald CEO Michael Selig are confirmed attendees.
This lineup reflects institutional curiosity about digital asset infrastructure rather than typical cryptocurrency community engagement.
The platform has outlined several development priorities on its public roadmap. A debit card product aims to bridge digital and traditional payment systems.
Mobile onboarding tools will expand accessibility beyond desktop users. Real-world asset integration could connect traditional financial instruments with blockchain rails.
The analyst’s post emphasized infrastructure over short-term price movements. “The token price is noise. The infrastructure is the story,” according to the social media commentary.
This perspective suggests that platform utility and adoption metrics matter more than speculative trading activity.
Capital allocation patterns indicate growing confidence in alternative stablecoin systems. Whether driven by yield opportunities or institutional partnerships, the flow of funds into newer platforms challenges the assumption that established stablecoins maintain permanent market dominance.
The development of payment rails and settlement infrastructure continues regardless of broader cryptocurrency market conditions.
Businessman and TV personality Kevin O’Leary has won a multi-million-dollar defamation lawsuit against crypto influencer Ben Armstrong, also known as “Bitboy.”
Miami federal judge Beth Bloom on Friday ordered Armstrong to pay almost $2.83 million in damages to O’Leary over a series of social media posts accusing the Shark Tank star of being a murderer.
O’Leary and his wife, Linda, were in a boating accident in 2019 that resulted in two deaths when their boat struck another. Armstrong accused O’Leary of murder in multiple X posts in March 2025, claiming that he paid millions to cover up the incident.
In her order, Judge Bloom said that O’Leary wasn’t operating the boat at the time and was never charged. While Linda O’Leary was charged with careless operation of a vehicle, she was exonerated after a 13-day trial that found the other boat was operating without its lights on.
Armstrong posted O’Leary’s phone number in X outburst
Judge Bloom said Armstrong had “escalated his harassment campaign” by sharing O’Leary’s private phone number and “urging his followers to ‘call a real life murderer,’” which saw him suspended from X for 12 hours.
O’Leary had said his phone was “lighting up” after the post, and the sharing of his number “significantly affected him, both in his professional and personal life,” according to the order.
Judge Bloom made a default judgment in the case after Armstrong failed to respond to the complaint and did not appear in court. The judge ordered Armstrong to pay $750,000 in mental anguish damages, $78,000 in reputational damages, and $2 million in punitive damages.
Related: Uniswap scores early win as US judge dismisses Bancor patent suit
The decision is the latest legal blow to Armstrong, who has been embroiled in public legal controversies over the past few years after being removed from the Bitboy Crypto brand in 2023, once one of the most-watched crypto-related YouTube channels.
He was arrested in March in Florida over emails he had sent to Georgia Superior Court Judge Kimberly Childs while acting as his own attorney. He was also arrested again in July in Georgia on charges of making harassing phone calls.
Armstrong was also arrested years earlier, in 2023, while livestreaming outside a former associate’s house, whom he had alleged was in possession of his Lamborghini.
Magazine: Kevin O’Leary says quantum attacking Bitcoin would be a waste of time
Bitcoin (CRYPTO: BTC) started 2026 with a steep slide and is on track for a challenging first quarter, echoing patterns seen in prior bear markets. The largest cryptocurrency by market cap has fallen about 22% since January, slipping from roughly $87,700 to the mid-$60k range, with recent prints near $68,000. If that pace holds, Q1 could mark the worst start to a year since the 2018 bear market, when BTC tumbled almost 50%, according to data tracked by CoinGlass. Ether (CRYPTO: ETH), the second-largest asset, has also pushed lower in the year’s early weeks, though its losses have been comparatively milder, aligning with a broader risk-off mood across crypto markets.
Key takeaways
- Bitcoin is down roughly 22% year-to-date, trading around $68.6k after opening near $87.7k, signaling entrenched near-term softness.
- The first quarter could become the worst since 2018 for BTC, with 2018 data showing a 49.7% quarterly decline according to CoinGlass.
- Ether has fared similarly in its own context, with about 34.3% losses in the current Q1—the third-worst start among nine observed first quarters historically.
- BTC has posted five straight weeks of losses, including a January drop of around 10.2% and a February trend that remains negative, needing a reversal above $80k to avert further red printing in February.
- Analysts describe the move as a routine correction within a longer-term backdrop of rising institutional interest and halving-cycle dynamics, rather than a structural breakdown.
Tickers mentioned: $BTC, $ETH
Sentiment: Bearish
Price impact: Negative. The price has declined to about $68,670, indicating ongoing downside pressure in the near term.
Market context: The sector remains sensitive to macro headwinds and liquidity conditions, with a focus on how institutional adoption and supply-side cycles could shape a potential rebound later in the year.
Why it matters
From a market structure perspective, the current pullback highlights how crypto assets are trading in a risk-off environment even as macro narratives evolve. Bitcoin’s retreat from the high-70s and into the 60k territory reflects a mix of profit-taking, cautious positioning by retail participants, and a broader test of support levels after a period of elevated volatility. The context matters because BTC’s price level often informs broader risk appetite in the sector, influencing altcoins and the trajectory of liquidity in the ecosystem.
Historically, the first quarter has displayed pronounced volatility for crypto. In 2018, during a brutal bear market, BTC shed almost half of its value within three months, a benchmark often cited by traders and analysts when assessing risk. In 2025 and 2020, Q1 saw notable declines as well, though the magnitude varied. The current quarter’s descent—paired with ETH’s sharp, yet comparatively less severe, slide—appears to align with a broader pattern: macro uncertainties tend to weigh on risk assets early in the year, even as final-year catalysts or structural developments remain in view.
One factor driving the current mood is the perpetual tug-of-war between risk-off sentiment and the long-run thesis for crypto assets. On one hand, institutions have continued to explore exposure and on-chain activity has shown resilience in certain metrics. On the other hand, macro headwinds—rising rates expectations, liquidity considerations, and geopolitical dynamics—can confine upside moves in the near term. In this context, market participants are watching crucial levels to gauge whether the pullback is a temporary correction or the onset of a more protracted downturn.
Within the price action, BTC’s five-week losing streak underscores a persistent near-term weakness. A slide of around 2.3% in the preceding 24 hours, with prices hovering around $68,670 at press time, suggests a market that remains sensitive to any fresh negative catalysts. CoinGecko tracks Bitcoin’s price and confirms the current trading range, reinforcing the view that a meaningful rebound would require catalysts beyond mere technical bounce—potentially including improved macro clarity or a renewed wave of institutional buying interest.
What to watch next
- Price level to watch: Whether BTC can reclaim the $80,000 threshold to halt or reverse the February red trend.
- Near-term performance: The next weekly closes to determine if the five-week streak of losses ends or extends.
- ETH trajectory: Whether Ether’s decline moderates alongside BTC or diverges due to sector-specific catalysts.
- Macro and on-chain signals: Monitoring shifts in liquidity conditions, risk sentiment, and any halving-cycle-related dynamics that could bolster a longer-term recovery.
- Institutional flow indicators: Any uptick in demand from well-funded participants that could support a sustained move higher once macro conditions stabilize.
Sources & verification
- CoinGlass data on Bitcoin’s quarterly performance and historical comparisons to 2018 (bear market) data.
- CoinGecko price data confirming BTC around $68k–$69k and daily movement metrics.
- LVRG Research commentary from Nick Ruck on BTC’s correctional phase and long-term resilience.
- Twitter/X reference to DaanCrypto’s assessment of Q1 volatility and its historical context.
Bitcoin’s Q1 trajectory amid macro headwinds and halving dynamics
Bitcoin (CRYPTO: BTC) is navigating a challenging start to 2026, with a renewed sense of caution across markets. After opening the year near $87,700, the benchmark asset has ceded roughly a quarter of its value, slipping into the mid-60k zone as headlines about liquidity and policy remain in focus. The decline mirrors patterns seen at the outset of prior downturns, where quarterly losses in the double-digit range have not always translated into a permanent downturn but instead have persisted until a new phase of accumulation takes hold. CoinGlass data help frame the severity: the first quarter of 2018, for example, remains the gold standard for a severe quarterly drawdown in the BTC bear era. The current slide has revived debates about whether the market is entering a longer-term correction or simply testing support before a potential resumption of upside.
Ether (CRYPTO: ETH) is not immune to the broader risk-off tone, though its drawdown has followed a somewhat different cadence. The leading altcoin has faced substantial selling pressure in Q1, with losses that stand at roughly 34% so far this quarter. Historically, ETH has shown red in a minority of its first quarters, but the current figure places it among its harsher starts. The divergence between BTC and ETH’s path underscores the nuanced dynamics within the crypto market, where Bitcoin often drives overall market psychology while the altcoin complex trails in response to sector-specific catalysts and cross-asset risk metrics.
Market observers have pointed to a recurring theme: the first quarter has a reputation for volatility in crypto markets, a fact that traders reference when calibrating risk and exposure. Daan Trades Crypto, an analyst cited in recent commentary, notes that quarterly fluctuations tend to be self-contained at the outset of a given year, and that early-year losses do not always predict how the rest of the year will unfold. Such commentary is supported by a broader body of historical data indicating that while Q1 performance can be harsh, it does not invariably preface a structural market decline, particularly when halving cycles and institutional adoption offer longer-term catalysts.
Current price action places BTC at a crossroads. When prices last crossed into the $70k range, buyers often argued for a swift rebound on improved macro sentiment or renewed liquidity. That level has since yielded to selling pressure, and a sustained breach of price levels around $68k–$69k raises the question of whether the market is undergoing a deeper retracement or simply pausing before the next leg up. For traders and investors, the key remains whether macro signals align with on-chain activity and whether the next set of data points—be it inflation prints, rate expectations, or regulatory developments—could tilt the balance in favor of buyers or sellers over the coming weeks.
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As the cryptocurrency market enters a new phase of volatile expansion, one of the leading global digital asset trading platforms Zoomex officially announced the launch of its annual flagship initiative — “February Sprint: Growth Season.”
Featuring a total prize pool of up to $100,000, the campaign is designed not only to empower users to achieve step-by-step asset growth but also to further embody Zoomex’s unwavering commitment to “asset sovereignty” and “rule transparency,” creating a fair, competitive arena where assets move seamlessly, and reward pathways remain clear for traders worldwide.
In today’s trading environment, user expectations surrounding platform integrity and asset liquidity have risen to core strategic priorities. Zoomex’s Brand Director stated: “We believe the foundation of fairness lies in users having absolute sovereignty over their assets and the ability to access them at any time. The market’s trust threshold for trading platforms is at a pivotal turning point.
That is why Zoomex continues to optimize a frictionless asset circulation system, ensuring that every participant’s assets are safeguarded within a highly transparent framework while maintaining maximum liquidity. This is not only a demonstration of technological strength, but also our brand commitment to protecting users’ asset sovereignty.”
To ensure users can execute trades at optimal cost throughout the Rapid Sprint, Zoomex leverages its proprietary Dual Liquidity Pool architecture to deliver a highly liquid, ultra-low slippage trading environment. Compared to a single liquidity source, the dual-pool mechanism significantly enhances order book depth.
Whether users are accelerating toward high-volume trading rewards or hedging risk during extreme market volatility, every order is executed at precise pricing. This transparent pricing and execution model eliminates hidden market costs, ensuring that every reward earned during Growth Season delivers tangible value.
The campaign, running from February 12 to February 28, is designed entirely around the principle of rule transparency, with all participants competing under a unified and fair algorithm:
Equal Starting Line: Exclusive New User Benefit
- New users who register and complete verification will receive a $10 bonus. This initiative encourages participants to experience Zoomex’s efficient asset mobility and impartial matching engine firsthand.
Accelerated Advancement: $1,000 Deposit Growth Reward
- In recognition of capital efficiency, Zoomex offers tiered incentives based on cumulative deposits. From $50 to $1,000 in total deposits, users can unlock rewards of up to $300 in bonus funds and $700 in Position Vouchers. All data is synchronized in real time, ensuring full visibility into each user’s asset growth trajectory.
Professional Recognition: Trading Days Rewards & XAUT Gold Airdrop
- The campaign honors disciplined traders by rewarding cumulative trading days, offering up to $110 in bonus incentives. For advanced participants seeking greater challenges, Zoomex also introduces the XAUT airdrop rewards — backed by physical gold — of up to $300 in XAUT. This structure guides users toward diversified and stable asset allocation within a transparent and fair trading environment.
Zoomex’s February “Rapid Sprint” Growth Season represents a resonance of integrity between the platform and its users. Here, every asset flow is transparent, and every trade execution is fair and reliable. We do not participate in market gamesmanship — we focus solely on safeguarding your asset sovereignty and empowering your journey toward sustainable growth.
Register now and begin your asset growth sprint with Zoomex today.
About ZOOMEX
Founded in 2021, Zoomex is a global cryptocurrency trading platform with over 3 million users across more than 35 countries and regions, offering 700+ trading pairs. Guided by its core values of “Simple × User-Friendly × Fast,” Zoomex is also committed to the principles of fairness, integrity, and transparency, delivering a high-performance, low-barrier, and trustworthy trading experience.
Powered by a high-performance matching engine and transparent asset and order displays, Zoomex ensures consistent trade execution and fully traceable results. This approach reduces information asymmetry and allows users to clearly understand their asset status and every trading outcome. While prioritizing speed and efficiency, the platform continues to optimize product structure and overall user experience with robust risk management in place.
As an official partner of the Haas F1 Team, Zoomex brings the same focus on speed, precision, and reliable rule execution from the racetrack to trading. In addition, Zoomex has established a global exclusive brand ambassador partnership with world-class goalkeeper Emiliano Martínez. His professionalism, discipline, and consistency further reinforce Zoomex’s commitment to fair trading and long-term user trust.
In terms of security and compliance, Zoomex holds regulatory licenses including Canada MSB, U.S. MSB, U.S. NFA, and Australia AUSTRAC, and has successfully passed security audits conducted by blockchain security firm Hacken. Operating within a compliant framework while offering flexible identity verification options and an open trading system, Zoomex is building a trading environment that is simpler, more transparent, more secure, and more accessible for users worldwide.
Bitcoin price is hovering around $68,500 as traders watch for potential volatility around Chinese New Year, a period that has historically coincided with short-term shifts in crypto liquidity.
Summary
- Bitcoin is trading around $68,500 ahead of Chinese New Year, a period that has historically seen mixed crypto performance, with some years showing pre-holiday weakness.
- Coinbase CEO Brian Armstrong said retail users are “buying the dip,” with February BTC and ETH balances equal to or higher than December levels.
- Technically, BTC remains below its 50-day SMA near $83,900, with support at $65,000 and $60,000–$62,000, and resistance around $72,000 and $76,000–$80,000.
Chinese New Year effect — seasonal pressure or coincidence?
Chinese New Year has at times aligned with weakness in Bitcoin (BTC) and broader crypto markets.
The theory is that traders in Asia may reduce exposure ahead of the holiday to free up cash, leading to temporary selling pressure. In some past cycles, BTC saw pullbacks in the days leading into Lunar New Year.
However, the pattern is far from consistent. There have also been years where Bitcoin rallied shortly after the holiday period. Crypto markets today are also more globally distributed than in earlier cycles, reducing the likelihood that one regional holiday alone drives price direction.
Adding another layer, Coinbase CEO Brian Armstrong recently said retail users on the exchange are “buying the dip.”
According to his data, retail BTC and ETH balances in February are equal to or higher than December levels, suggesting long-term holders are accumulating rather than capitulating.
If that trend holds, it could cushion any seasonal selling.
What Bitcoin price analysis shows
On the daily chart, BTC remains below its 50-day simple moving average near $83,900, confirming that the short-term trend is still bearish.
Price has formed a series of lower highs since topping near the mid-$90,000 range in January.
The Relative Strength Index (RSI) sits around 35, recovering from deeply oversold levels near 20 earlier this month. That rebound suggests selling momentum has cooled, but it does not yet confirm a trend reversal.
Immediate support is near $65,000, with stronger support in the $60,000–$62,000 zone, where a sharp capitulation wick formed earlier in February. Resistance stands near $72,000, followed by a heavier supply zone between $76,000 and $80,000.
A break below $65,000 could reopen downside risk toward $60,000. A decisive move above $72,000 would be the first sign that bulls are regaining control, regardless of seasonal narratives.
Crypto markets are deep red on Monday, with industry leader bitcoin sliding lower before a packed week of economic data.
At press time, bitcoin traded near $68,200, down nearly 3% over 24 hours, with XRP , ether , registering much bigger losses. Losses hit 85 of the top 100 tokens by market cap, with privacy coins like monero and zcash down 10% and 8%, respectively.
Smart contract tokens bled too, with the CoinDesk Smart Contract Platform Select Capped Index down nearly 6%, pushing its year-to-date drop to 28%.
The market weakness looks particularly disappointing against the backdrop of the weak U.S. consumer price index data released last week that kept hopes of Fed rate cuts alive.
The CPI growth slowed to 2.4% year-on-year in January from 2.7% in December, the official data showed, reinforcing expectations for at least two 25 basis point rate cuts by the Fed this year. This resulted in the 10-year U.S. Treasury yield falling to 4.05%, the lowest since early December. Bitcoin rallied, rising from nearly $66,800 on friday to over $70,000 over the weekend, but failed to establish a foothold there.
Vikram Subburaj, CEO of the India-based regulated Giottus exchange, said selective demand is the reason why rallies struggle to hold.
“Risk appetite stayed selective and macro cross-currents kept traders defensive. In derivatives, the market continues to behave as if it is ‘de-leveraging first, asking questions later.’ Rallies have struggled to hold and dips are being bought only selectively near obvious levels,” he said in an email to CoinDesk.
Macro heavy weak
A packed week of macro data lies ahead, with traders eyeing the minutes of the January Fed meeting and the release of the Fed’s preferred inflation gauge, the core personal consumption expenditures price index (PCE), for fresh positioning signals.
“PCE inflation, the Fed’s preferred measure, will be closely monitored for confirmation that price pressures are moderating, particularly after CPI showed only gradual disinflation and inflation remains above the 2% target,” Dessislava Laneva, Nexo dispatch analyst, said in an email.
“Markets will assess both the monthly momentum and year-on-year trend for implications for the policy path.” Laneva added.
In traditional markets, Mark Nash of Jupiter Asset Management, a high-profile yen bear has flipped bullish, forecasting 8–9% yen appreciation, particularly against the Swiss franc.
The yen and bitcoin have hit a record positive correlation in recent months, which makes any yen strength a key catalyst for bitcoin bulls.
Bitcoin may be headed for its worst first quarter in eight years, with data showing Bitcoin is already down 22.3% since the start of the year.
The asset began the year trading around $87,700 and has declined by around $20,000 to current lows of around $68,000, putting it on track for its worst first quarter since the 2018 bear market — which fell almost 50%, according to CoinGlass.
Bitcoin (BTC) has declined in seven of the past thirteen Q1s, with the most recent being 2025 when it lost 11.8%, 2020 when it shed 10.8%, and the largest ever, 2018, when it dumped 49.7% in just three months.
“The first quarter of the year is known for its volatile nature,” observed analyst Daan Trades Crypto on Sunday.
“So it’s safe to say, whatever happens in Q1 does not generally translate over further down the line, according to the historical price action,” he added.
First-ever red Jan and Feb?
BTC has only ever seen two consecutive first quarters of losses in the bear market years of 2018 and 2022.
Comparatively, Ether (ETH) has only seen red in three of the past nine first quarters, with the current period shaping up to be its third-worst historically, with 34.3% losses so far.
Related: Bitcoin loses $2.3B in biggest crash since 2021 as capitulation intensifies: Analyst
Meanwhile, Bitcoin is also on track to see its first-ever consecutive January and February in the red. The asset lost 10.2% in January and is down 13.4% so far this month. It needs to reclaim $80,000 to prevent a red February.
Bitcoin is in a correctional phase
Nick Ruck, the director of LVRG Research, told Cointelegraph that the ongoing decline in BTC price amid persistent global economic uncertainty “reflects a regular correctional phase rather than a structural breakdown in the asset’s long-term trajectory.”
“While short-term pressures could intensify if macroeconomic headwinds persist, historical patterns show Bitcoin’s resilience often leads to strong recoveries in later months, particularly as institutional adoption and halving cycle dynamics continue to strengthen its potential,” he added.
Meanwhile, BTC has entered its fifth consecutive week of losses, falling 2.3% over the past 24 hours to $68,670 at the time of writing, according to CoinGecko.
Magazine: Coinbase misses Q4 earnings, Ethereum eyes ‘V-shaped recovery’: Hodler’s Digest
BTC’s recent recovery may be hiding a dangerous signal. The Bitcoin price bounced nearly 9% between February 12 and February 15, giving the impression that the worst of the correction was over.
But the rebound is already weakening. Now, leverage data, momentum signals, and on-chain profit trends suggest the bounce may have increased crash risk instead of ending it.
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Bitcoin’s 9% Bounce Drew Nearly $2 Billion in Long Bets
Between February 12 and February 15, Bitcoin climbed roughly 9%. At the same time, futures traders aggressively positioned for further upside. Total open interest, which tracks the total value of active futures contracts, rose from $19.59 billion to $21.47 billion. This was an increase of about $1.88 billion, or roughly 9.6%, between February 13 and February 15.
This increase did not happen in isolation. Funding rates also turned strongly positive, rising toward +0.34%. The funding rate is the fee paid between long and short traders. When it is positive, long traders pay short traders. This shows that most BTC traders were betting on prices rising.
Want more token insights like this? Sign up for Editor Harsh Notariya’s Daily Crypto Newsletter here.
Together, rising open interest and positive funding rates confirmed that the market was positioning for a larger recovery. But the larger chart structure reveals a critical problem.
This entire rebound happened inside a bear flag pattern. A bear flag forms when the price rises slowly after a sharp drop but remains inside a downward continuation structure. It often acts as a pause before another decline.
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The recent rejection near the local peak and the ongoing pullback now show that Bitcoin is still trading inside this bearish pattern. Price is already drifting toward the lower boundary of the flag. If this lower support breaks, the next leg of the weakening Bitcoin price prediction could begin.
Hidden Bearish Divergence and 90% Profit Surge Show Sellers Are Returning
Momentum indicators are now starting to confirm this growing weakness. On the 12-hour chart, Bitcoin formed a hidden bearish divergence between February 6 and February 15.
During this period, the price formed a lower high, meaning the recovery was weaker than the previous peak. But the Relative Strength Index, or RSI, formed a higher high. RSI measures the strength of buying and selling momentum.
This combination is called hidden bearish divergence. It usually appears when buying momentum rises temporarily, but the overall trend remains weak. It signals that sellers are quietly regaining control. Shortly after this signal appeared, Bitcoin’s pullback began.
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At the same time, on-chain profit data surged sharply, creating another warning sign. Bitcoin’s Net Unrealized Profit/Loss, or NUPL, rose from 0.11 on February 5 to 0.21 on February 14. This was an increase of about 90%. It is currently moving near the same zone, at press time.
NUPL measures the average unrealized profit across all Bitcoin holders. It shows how much profit investors are holding on paper. When NUPL rises sharply, it means many investors are suddenly back in profit, even if it is a small amount. This increases the risk of profit-taking.
The last time NUPL reached similar levels was on February 4. At that time, Bitcoin was trading near $73,000. Within one day, the price collapsed to around $62,800. That was a drop of nearly 14%. Now, the same profit structure has appeared again.
This creates a scary situation. Investors holding fresh profits may sell quickly if prices start falling. That selling can accelerate the correction. This aligns with the hidden bearish divergence already visible on the chart.
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Together, these signals show that the recent bounce may have strengthened sellers instead of removing them.
Key Bitcoin Price Levels Show Breakdown Risk Toward $58,800
Bitcoin is now approaching the most important support zone in its current structure. The first critical level is $66,270. This level forms near the lower boundary of the bear flag pattern breaks.
If Bitcoin breaks below this Fib level, the bearish continuation pattern would activate. The next major downside target sits at $58,880 (the $58,000 zone). This level aligns with the 0.618 Fibonacci retracement level ( a structurally strong zone) and represents roughly a 14% decline from current prices.
If selling pressure accelerates further, Bitcoin could fall toward the $55,620 zone, which aligns with the deeper projection of the bear flag structure. On the upside, Bitcoin must reclaim $70,840 to stabilize in the short term.
A stronger breakout above $79,290 would fully invalidate the bearish structure. That would signal that buyers have regained control. Until then, the risk remains tilted to the downside. The recent bounce improved sentiment briefly. But rising leverage, hidden bearish divergence, and a 90% surge in unrealized profits now show that the Bitcoin price recovery may have created the conditions for another drop.
Bittensor’s TAO token climbed nearly 8% to become the top gainer after Upbit, South Korea’s largest cryptocurrency exchange, announced its listing.
The rally enabled TAO to outperform the broader crypto market, which remained under pressure as the total market capitalization declined 2.53% over the past 24 hours.
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Upbit Introduces TAO Trading Pairs Amid Turbulent Market Conditions
Upbit confirmed that TAO will be available for trading against three trading pairs: Korean won (KRW), Bitcoin (BTC), and Tether (USDT). Trading is scheduled to begin on February 16 at 16:00 Korean Standard Time (KST). Furthermore, deposits and withdrawals will open within approximately 90 minutes of the announcement.
“Deposits and withdrawals are supported only through the specified network (TAO – Bittensor Network). Deposits and withdrawals via EVM networks are not supported. Please verify the network before depositing,” the notice read.
As is standard for new listings on the platform, Upbit will implement temporary trading safeguards at launch. The exchange will restrict buy orders for approximately five minutes after trading begins.
During that same window, it will block sell orders priced more than 10% below the previous day’s closing price. For roughly two hours after the listing, Upbit will permit only limit orders.
The listing triggered a price surge for TAO, reinforcing a pattern commonly observed when tokens secure new exchange support. Following the announcement, the token advanced nearly 8%.
At the time of writing, the altcoin was trading at $207.6. Moreover, TAO’s rise pushed it to become the largest gainer among the top 100 cryptocurrencies on CoinGecko.
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The latest rally builds on the token’s recent momentum. TAO has gained more than 21% over the past week after trending predominantly downward since the beginning of the year.
TAO Price Prediction: What Comes Next?
Meanwhile, analysts remain optimistic about the artificial intelligence-focused blockchain. Analyst Michaël van de Poppe signaled a bullish outlook for Bittensor’s token. He projected at least a “mean reversion” toward approximately $300.
“I think that protocols working on AI <> Crypto are a must have in every portfolio and I’m glad I’ve added funds into this position. I think that we’re going to see more strength going forward from here,” Van de Poppe wrote.
Looking ahead, TAO’s short-term trajectory will likely depend on whether the listing-driven momentum converts into sustained trading volume and continued buyer interest. If broader sentiment stabilizes and participation remains elevated, the token could extend its recovery.
However, weakening momentum or renewed market pressure may temper gains. As exchange accessibility improves, overall crypto market conditions will also be a key factor.
Russia’s finance ministry and central bank are reportedly calling on the government to speed up the rollout of crypto market regulations amid booming adoption of digital assets, claiming citizens are spending almost 50 billion Russian rubles ($648 million) on crypto daily.
According to a report from Russian news outlet RBC on Thursday, Russia’s deputy finance minister, Ivan Chebeskov, emphasized the importance of regulating the market, as most crypto spending is happening primarily through unregulated channels.
“We have always said that millions of citizens are involved in this activity, these are trillions of rubles from the point of view of citizens in use, in savings,” he said as part of a panel discussion on digital assets at the Alfa Talk conference, adding:
“Also, for example, one of the figures, about 50 billion rubles per day is the turnover of crypto in our country. That is a turnover of more than 10 trillion rubles per year, which is now happening outside the regulated zone, outside our attention.”
The daily volume of 50 billion rubles cited by Chebeskov equates to roughly $648 million, with the yearly figure equating to $129.4 billion. It marks strong crypto adoption within the country as it tangles with economic sanctions slapped on the country by the US and Europe.
The European Union, in particular, has recently raised concerns over Russia’s use of crypto to bypass sanctions, and is pushing to “ban all cryptocurrency transactions with Russia” as part of a new sanctions package, according to a report from the Financial Times on Feb. 10.
In late December, Russia’s central bank released a policy proposal looking to enable both qualified and non-qualified investors to buy certain crypto assets, marking a stark contrast to its earlier push for an outright ban on crypto.
The proposal seeks to provide a strict limit on non-qualified investors, allowing them to hold up to 300,000 rubles ($3,834) worth of crypto a year, while allowing broad access to the market, excluding privacy coins, for qualified investors.
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Speaking on the same panel as Chebeskov, the first deputy chairman of Russia’s central bank, Vladimir Chistyukhin, said he hopes to see crypto market regulation adopted by the government in the spring session of the State Duma, the first of two annual legislative periods in Russia.
“We would very much like the government to see the law adopted in the spring session. I hope that this is a possible consensus decision and this will provide an opportunity for a transition period for market participants to obtain the necessary licenses, to develop appropriate internal documents to start work, as I said, to legalize this segment of the market,” he said.
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Zcash price is pressing against a key psychological level as privacy adoption quietly tightens supply.
Summary
- Zcash is testing a major psychological level at $300, with price structure showing recovery but momentum not yet fully bullish.
- Privacy adoption is accelerating, as 30% of total ZEC supply now sits in shielded addresses, potentially tightening circulating float.
- A breakout above $300 could trigger renewed upside, while failure at resistance may lead to short-term consolidation.
ZEC was trading around $287 at press time, down 11% in the past 24 hours. The short-term drop comes after a strong run. Over the last seven days, the price is up 23%. On a 30-day basis, gains stand at 29%.
Over the past year, Zcash (ZEC) has surged roughly 792%, making it one of the stronger performers of this cycle. The 7-day range between $223 and $327 reflects elevated volatility as the price coils beneath the $300 level.
Derivatives data show some cooling. According to CoinGlass data, trading volume fell 27% to $1.57 billion, while open interest dropped 13% to $406 million, a sign that some leveraged positions have been flushed out during the pullback.
Shielded supply growth tightens float
A Feb. 16 post on X by Delphi Digital noted that Zcash’s shielded pool now accounts for 30% of total supply, up from just 11% a year ago.
The firm described this dynamic as a “privacy flywheel.” As more coins move into the shielded pool, the anonymity set expands. A larger anonymity set improves privacy guarantees, which in turn attracts more users. That feedback loop, if sustained, could materially shift supply dynamics.
At the current pace, Delphi estimates that more than 50% of the supply could be shielded within 12 to 18 months.
Coins that enter the shielded pool are often held longer. Historically, shielded users show higher conviction and lower turnover. That reduces the immediately available supply on the market. When float tightens and demand rises, price reactions can become sharper.
Zcash’s November 2024 halving also changed the equation. Annual inflation dropped to around 4% and is projected to decline toward roughly 1% by 2028. After nearly a decade of proof-of-work mining, most of the supply is already distributed across a global miner base.
Zcash price technical analysis
ZEC is trading near $287 and testing resistance around $300. This is a psychological round number and sits close to the recent swing high in the current recovery leg. This zone is also where previous price rejections cluster.
The short-term bullish case would be reinforced by a verified break and close above $300. Immediate support is located close to $277, which serves as a dynamic support level and is in line with the middle Bollinger Band. Holding above it maintains the upward momentum.
Below that, the recent swing low and lower Bollinger Band, which is located close to $188, provides the next significant support. That level marked the base of the previous oversold bounce.
The Bollinger Bands are beginning to contract after a period of expansion. Volatility is cooling. Often, this type of compression precedes a stronger directional move.
At 47, the relative strength index has bounced back from oversold territory below 30, indicating that selling pressure has subsided. Any breakout attempt would gain conviction if it were to sustain a move above 50.
A higher low of $188 has been set for the near term. A constructive structure is indicated by the price’s current upward push into resistance. The next technical target is located around $366, close to the upper Bollinger Band, if $300 is broken.
But a decline toward $277 is likely if the price fails at $300. The $188 level, which would be crucial to defend if the larger bullish structure were to hold, could be exposed once more in a deeper correction.
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