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BTC/USD Analysis: Are the Bulls Stirring?

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BTC/USD Analysis: Are the Bulls Stirring?

According to media reports, Bitcoin’s fall from its all-time high in October 2025 to February’s low near $60k triggered the largest outflow from spot Bitcoin ETF funds since their launch in January 2024.

Glassnode data show that more than 100,000 BTC were withdrawn from these funds in January alone, though the total remains substantial, with roughly 1.25 million coins still held on balance sheets.

Analysing trading volumes on Coinbase, however, reveals a trend of declining activity (as indicated by the arrow). From a long-term perspective, this may suggest the ETF outflow trend is easing, potentially allowing the market to resume its multi-year uptrend. How plausible is this scenario?

Technical Analysis of BTC/USD

Bitcoin’s price fluctuations are currently compressing between the thick lines on the chart – a sign of market stabilisation, where supply and demand appear balanced.

Notable bullish patterns include:

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  • A double bottom (A1–B1) on 11–12 February, aligning with the lower boundary of the long-term descending channel.
  • A second double bottom (A2–B2) on 18–19 February, featuring a slightly lower secondary low.

In the short term, traders might anticipate a rebound towards the upper boundary of the triangle. While the descending channel remains relevant, a decisive bullish break of this consolidation pattern would signal improving sentiment in the crypto market following February’s panic selling.

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Polymarket Traders Price in 82% Chance of Clarity Act Passage

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Odds of Clarity Act Passing in 2026.

The probability of the Clarity Act being signed into law in 2026 surged to a record 82% on Polymarket earlier today.

The increase in odds comes ahead of a looming deadline to move the key crypto legislation forward.

Polymarket Signals Growing Confidence in Clarity Act as Negotiations Accelerate 

Data from Polymarket shows that the probability of the Clarity Act becoming law rose sharply over the past 48 hours. Odds climbed from around 60% on February 18 to a peak of 82% earlier today. 

At press time, the figure had eased to 78%, still reflecting a significant jump and signaling growing market confidence in the bill’s prospects.

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Odds of Clarity Act Passing in 2026.
Odds of Clarity Act Passing in 2026. Source: Polymarket

The optimism is not limited to prediction market traders. Industry executives are also projecting strong momentum. 

In an interview with Fox Business, Ripple CEO Brad Garlinghouse said there’s a 90% chance that the long-debated Clarity Act will pass by the end of April.

“The White House is pushing hard on this, and that is a big reason why it will get done. It needs to get done for US leadership,” he said.

The rise in retail optimism comes as the White House moves to push negotiations forward. According to Fox Business, a March 1 deadline has been set to advance the legislation ahead of the midterms.

White House Hosts Third Meeting as Clarity Act Deadline Nears

The Clarity Act is focused on establishing a regulatory framework for digital assets. At its core, the bill aims to clearly define regulatory oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC).

The legislation passed the House last July. However, the Senate’s version remains stalled. The primary point of contention between banks and crypto firms centers on stablecoin yields. Last month, Coinbase withdrew its support for the bill after the Senate’s changes. 

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The administration has convened several discussions involving crypto firms and banking representatives, with a third meeting held on Thursday. 

According to journalist Eleanor Terrett, a representative from the crypto industry argued that banks’ concerns may be rooted more in competitive dynamics than in measurable concerns over deposit flight.

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A source representing banks told Terret that, for their part, they are pushing further analysis of how stablecoins could affect traditional deposit bases.

“Bank trade groups will brief their members on today’s discussions and gauge whether there’s room to compromise on allowing crypto firms to offer stablecoin rewards. One source said an end-of-month deadline doesn’t seem unrealistic, with talks set to continue in the coming days,” Terrett said.

As discussions move forward, March 1 stands out as a critical date in the legislative timeline. Despite ongoing disagreements, market analysts still view the bill as broadly positive for the industry.

If passed, it would mark a significant step toward reducing regulatory uncertainty and establishing clearer rules for the crypto sector overall.

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Bitcoin Spikes as US Supreme Court Strikes Down Trump Tariffs

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Bitcoin Spikes as US Supreme Court Strikes Down Trump Tariffs

In a landmark 6–3 decision, the Supreme Court of the United States has ruled that President Donald Trump’s sweeping global tariffs were illegal, delivering a sharp blow to one of the White House’s core economic policies.

The decision immediately lifted risk appetite across financial markets — including crypto — though traders remain cautious about what comes next.

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Bitcoin ETFs Near Five-Week Outflow Streak With $404M Outflows

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Bitcoin ETFs Near Five-Week Outflow Streak With $404M Outflows

Selling pressure in US-listed spot Bitcoin ETFs continued Thursday, with analysts noting the cryptocurrency is on track for one of its worst yearly starts.

Spot Bitcoin (BTC) ETFs saw $165.8 million in outflows Thursday, bringing weekly losses to $403.9 million, according to SoSoValue data.

The redemptions moved the funds closer to a possible five-week outflow streak, with year-to-date (YTD) losses totaling $2.7 billion.

Daily flows in US spot Bitcoin ETFs this week. Source: SoSoValue

Trading activity continued to shrink, falling 21% over the week and reaching its lowest levels since late December, signaling weakening investor activity.

Despite $53.9 billion in cumulative net inflows, analysts, including DropsTab, noted that 2026 is shaping up to be “one of the worst yearly starts in Bitcoin’s history,” with BTC prices down about 22% year-to-date, according to TradingView data.

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BlackRock’s IBIT leads losses with $368 million in outflows this week

BlackRock’s iShares Bitcoin Trust ETF (IBIT) accounted for the bulk of outflows this week, totaling $368 million, according to Farside data.

Other US-listed spot Bitcoin ETFs saw little or no activity this week, aside from about $50 million in outflows from the Fidelity Wise Origin Bitcoin Fund (FBTC) on Wednesday.

Daily flows in US spot Bitcoin ETFs by issuer. Source: Farside.co.uk

Some major financial institutions reported reducing IBIT exposure earlier this week, with Brevan Howard cutting its holding in the fund by as much as 85% in the fourth quarter of 2025.

Bitcoin set for one of its worst yearly starts

The ongoing outflows from Bitcoin ETFs coincide with weakening investor sentiment, as multiple sources point to unusually low BTC price levels compared to previous cycles.

Drops Analytics highlighted Bitcoin’s price in the context of halving — an event that reduces BTC’s block reward once every four years and is typically followed by price surges in the years that follow.

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Analysis, Bitcoin Price, Ethereum ETF, Bitcoin ETF
Source: Drops Analytics

“Almost two years later, BTC trades around $66,000 — nearly the same level as during the April 2024 halving,” Drops Analytics said in a Telegram post on Thursday.

Related: Quantum fears aren’t behind Bitcoin’s 46% drop, says developer

“This has never happened before. In previous cycles, BTC was already three to 10 times above halving levels by now,” it added.

According to Checkonchain data, Bitcoin is off to its worst yearly start on record, 50 days into 2026, surpassing previous down years, including 2018.

Magazine: Did a Hong Kong fund kill Bitcoin? Bithumb’s ‘phantom’ BTC: Asia Express

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