Crypto World
Core Scientific Q4 Earnings Miss Moves Shares Lower
Shares in Core Scientific moved lower on Monday after the Bitcoin miner and artificial intelligence compute provider’s fourth-quarter earnings missed analyst expectations amid a late-year drop in crypto markets.
Core Scientific reported Q4 revenues of $79.8 million, down 16% from the year-ago quarter and missing Wall Street expectations of $90.4 million. Its crypto mining revenue fell nearly in half from Q4 2024 to $42.2 million.
The company posted net income of $216 million for the quarter, largely boosted by a $330.3 million fair value gain on its non-cash holdings. Its adjusted EBITDA showed a loss of $42.7 million.
The earnings come as Bitcoin (BTC) is trading nearly 50% below its peak in early October at around $68,000. The cryptocurrency fell sharply late last year after hitting a peak of over $126,000, ending 2025 at just under $88,500.
The drop has hurt Bitcoin miners’ profits, which are also facing headwinds from higher energy and computing costs, as many, including Core Scientific, spend big on pivoting to AI by offering colocation services for high-performance computers.
Core Scientific CEO Adam Sullivan said the company was “now past the halfway point on our existing builds and scaling our colocation platform into a 1.5-gigawatt pipeline of leasable capacity.”
The company added that it is expanding one of its sites in Texas to support 430 megawatts of gross power capacity and has increased power capacity at other sites in Georgia and Texas by 300 megawatts.
Shares in Core Scientific (CORZ) ended trading on Monday down 2.8% to $16.49. Its stock fell to a low of $14.69 after the bell, but recovered to end the after-hours session flat. Core Scientific’s stock is up over 13% so far this year.
Related: Nasdaq files for prediction market-style options on Nasdaq-100
Riot Platforms trades flat on Q4 revenue miss
Rival Bitcoin miner and AI compute hoster Riot Platforms also posted its Q4 results on Monday, reporting revenue of $152.8 million, up 7% from a year ago but missing analyst expectations of $157 million.
Shares in Riot Platforms (RIOT) traded flat on Monday, ending the day at $16.43 and moving less than 1% after hours to $16.28.
Magazine: Bitcoin may take 7 years to upgrade to post-quantum — BIP-360 co-author
Riot Platforms (NASDAQ: RIOT) closed 2025 with a record revenue footprint, anchored by a surge in Bitcoin (CRYPTO: BTC) mining and a strategic pivot toward AI-friendly data infrastructure. The miner reported $647.4 million in revenue for the year, up 72% from $376.7 million in 2024, with Bitcoin mining revenue accounting for the bulk of that rise — $576.3 million — as the company’s hashrate climbed and Bitcoin prices firmed. The year saw Riot mine 5,686 BTC, up from 4,828 BTC in 2024. The average cost to mine one Bitcoin, excluding depreciation, rose to $49,645 from $32,216 in 2024, reflecting a 47% increase in the global network hashrate and higher mining difficulty, though power credits grew 68% over the year, helping offset some costs. Engineering revenue also climbed to $64.7 million from $38.5 million in 2024.
Key takeaways
- Full-year revenue reached $647.4 million, a 72% year-over-year rise, driven largely by Bitcoin mining.
- Bitcoin mining revenue totaled $576.3 million in 2025, with Riot producing 5,686 BTC for the year.
- The average cost to mine one BTC rose to $49,645 due to a 47% jump in the global network hashrate and higher mining difficulty; power credits rose 68% to help compensate.
- Riot still posted a net loss of $663 million for 2025 due to accounting adjustments and the paper value of its Bitcoin holdings, though adjusted EBITDA reached $13 million.
- At year-end, Riot held 18,005 BTC on its balance sheet (3,977 BTC pledged as collateral), valued at about $1.6 billion at the period’s price; the company maintained $309.8 million in cash, including $76.3 million restricted.
- The year featured notable strategic moves, including an AMD data-center agreement and the sale of Bitcoin to fund a 200-acre land purchase in Rockdale, Texas, amid activist pressure to accelerate a pivot toward AI/HPC infrastructure.
Tickers mentioned: $BTC, $RIOT, $AMD
Sentiment: Neutral
Market context: The 2025 crypto cycle remained volatile, with miners navigating lower price environments and rising mining difficulty as global hashrates expanded. Riot’s results reflect both the resilience of Bitcoin mining revenue and the pressures of noncash accounting on reported profits, while the sector-wide shift toward data-center and AI infrastructure gained pace among peers.
Why it matters
Riot’s 2025 numbers underscore the enduring profitability potential of Bitcoin mining when operational scale and efficiency align with favorable Bitcoin price trends. The company’s ability to produce 5,686 BTC in a year demonstrates the continued relevance of large-scale, purpose-built mining operations even as macro conditions vary. Yet the sizable net loss for 2025 highlights the distinction between cash generation and reported earnings, driven by noncash accounting adjustments and the mark-to-market treatment of Bitcoin holdings. For investors, the key takeaway is whether Riot’s business model can convert its rising revenue into sustainable cash flow as it diversifies beyond mining into AI-focused data-center infrastructure.
Riot’s strategic pivot toward AI and HPC infrastructure is a central theme in the sector. The company’s leadership has signaled a broader trend among leading miners to repurpose existing power capacity for AI workloads, aligning with a market where demand for GPU-accelerated data centers and related services remains robust. This pivot aligns Riot with peers that have begun converting mining capacity into AI computing, a move that could unlock new monetization avenues beyond BTC production. The balance between mining economics and the potential upside from AI/HPC deployments will be critical to assess in the coming quarters, particularly as the company explores capital allocation decisions that could affect liquidity and leverage metrics.
The year’s narrative is also shaped by external pressures from activist investors. Starboard Value’s position suggested the AI/HPC pivot could unlock a valuation up to $21 billion, a view that intensifies scrutiny on how Riot deploys capital and scales its non-mining businesses. The broader mining ecosystem is undergoing a similar transformation, with other miners converting facilities and power capacity into data-center operations. In this environment, Riot’s execution on both mining efficiency and AI-centric expansion will be watched closely by holders and analysts alike.
Beyond Riot’s internal dynamics, the sector faced notable earnings results from peers during 2025. Core Scientific reported Q4 revenue of $79.8 million, down 16% year over year and short of estimates, while TeraWulf posted quarterly mining revenue of $35.8 million, below expectations. Marathon Digital Holdings (MARA) faced a steeper quarterly loss of $1.71 billion as revenue declined, underscoring the difficult backdrop for miners even as some players pursue diversification into AI infrastructure. The industry’s earnings narrative in 2025 highlighted both the fragility of pure mining profits and the potential for strategic pivots to sustain growth.
Riot’s year-end results also mirror a broader financial landscape in crypto by illustrating how the balance sheet interacts with price movements. The company finished the year with 18,005 BTC on hand, including nearly 4,000 BTC pledged as collateral, valued at approximately $1.6 billion using year-end Bitcoin prices. With $309.8 million in cash and $76.3 million restricted, Riot’s liquidity position provides a foundation for ongoing investments, including data-center expansions and potential acquisitions linked to its AI/HPC strategy. The role of Bitcoin as a treasury asset remains a focal point for investors evaluating the risk-reward profile of mining-centric businesses in a volatile market.
What to watch next
- Progress of the AMD data-center agreement and any related deployment milestones at Riot’s facilities.
- Updates on the Rockdale, Texas land development and whether additional capital is deployed toward AI/HPC infrastructure.
- Regulatory or market developments that could impact mining economics or Bitcoin’s treasury treatment in Riot’s financials.
- Future quarterly results for any signs of improved profitability from AI/data-center initiatives or changes in BTC holdings strategy.
- Ongoing discourse with activists and any governance actions tied to Riot’s strategic pivot and capital allocation plan.
Sources & verification
- Riot Platforms, Inc. announces full-year 2025 financial results and strategic highlights — official press release.
- Riot Platforms’ 2025 earnings report (PDF): Riot earnings report. Source: Riot.
- Details on the AMD data-center agreement and Rockdale land purchase: Riot Platforms Bitcoin AI HPC Texas land deal — original reporting.
- Activist investor Starboard Value commentary on Riot’s strategic pivot and potential valuation upside: Starboard Value discussion.
- Industry context on AI infrastructure and mining sector shifts: article on AI-focused data centers and high-yield bonds in BTC mining.
Riot Platforms’ 2025 results reflect a record top line and a pivot toward AI infrastructure
Riot Platforms (NASDAQ: RIOT) posted a year that underscored both the durability of large-scale Bitcoin mining and the strategic tension between traditional mining economics and the opportunity set created by AI-centric data centers. The revenue trajectory was unmistakable: a $647.4 million top line, a 72% ascent from the prior year, with BTC-driven mining revenue powering the majority of that growth. The company’s annual Bitcoin production reached 5,686 BTC, a solid step up from 4,828 BTC in 2024, illustrating how scale and efficiency can translate into tangible output even amid a volatile crypto environment. The mining segment’s strength is tempered by cost dynamics that have evolved in tandem with a rapidly expanding network hashrate — up 47% globally — and a corresponding rise in mining difficulty. Excluding depreciation, Riot’s estimated custo to mine a single Bitcoin rose to $49,645, a signal that margins can compress when the network grows quickly, though the resilience of power credits, which rose 68% in the year, helped cushion some of that pressure.
The company’s 2025 earnings narrative was not simple arithmetic. A net loss of $663 million dominated headlines, but much of that figure traces noncash accounting adjustments and changes in the paper value of Riot’s Bitcoin holdings. When noncash items are stripped away, adjusted EBITDA stood at $13 million for the year. Investors were reminded that cash-generating capacity can coexist with paper losses on the balance sheet, a dynamic that has become increasingly common among miners that carry substantial Bitcoin positions on their books. The disclosures around these noncash effects underscore the importance of parsing GAAP results from the underlying cash flow and operating performance when evaluating Riot’s long-term trajectory.
On the balance sheet, Riot ended 2025 with a sizable cache of Bitcoin — 18,005 BTC — worth roughly $1.6 billion using year-end prices, of which 3,977 BTC were pledged as collateral. The company also held $309.8 million in cash, with $76.3 million classified as restricted. These figures provide Riot with a degree of financial flexibility as it navigates capital allocations in a field that remains sensitive to Bitcoin’s price trajectory and mining economics. The year’s liquidity position supports ongoing initiatives tied to the AI/HPC pivot, including potential expansions of data-center capacity or related partnerships.
Strategically, Riot’s year highlighted deliberate steps toward redefining its role beyond pure mining. In January, Riot struck a data-center agreement with AMD (NASDAQ: AMD), signaling a potential shift toward AI accelerator workloads and high-performance computing. In tandem, the company disclosed plans to monetize Bitcoin to fund a 200-acre land purchase in Rockdale, Texas, a move that aligns with a broader push to increase on-site compute capacity while pursuing productive uses for capital. Activist investor Starboard Value pressed for a more accelerated pivot into AI infrastructure, arguing that the transformation could unlock substantial value. This tension between immediate mining returns and longer-term data-center profitability mirrors a wider industry debate about how miners should allocate capital as demand for AI infrastructure continues to grow.
Riot’s narrative sits within a broader ecosystem of miners pursuing similar diversification. Peers such as Hive, Hut 8, TeraWulf, and Iren have repurposed some of their power assets for data-center operations, while CoreWeave has moved toward fully AI infrastructure. The evolving earnings mix reflects an industry-wide recalibration: mining revenues remain a foundational contributor, but AI-focused data centers promise new avenues for revenue and margin expansion if executed with discipline and scale. The 2025 results thus offer a snapshot of a sector in transition — one where the fate of an individual miner hinges on execution across multiple fronts: efficiency, balance-sheet discipline, capital allocation, and the ability to monetize AI compute opportunities as demand for AI workloads climbs.
Looking ahead, Riot’s path will depend on how successfully it translates its AI/HPC ambitions into tangible earnings and how it navigates Bitcoin’s price volatility. The company’s forthcoming disclosures and quarterly updates will be critical for assessing whether the AI pivot can meaningfully augment free cash flow and provide a sustainable alternative to mining-driven revenue. As miners balance the traditional economics of BTC production with the strategic imperative to invest in AI infrastructure, Riot’s 2025 experience could serve as a bellwether for the broader market’s willingness to embrace diversification as a route to enduring profitability.
Riot Platforms posted record annual revenue of $647.4 million for 2025, up 72% from $376.7 million a year earlier.
In a Monday announcement, the company said the increase was driven by a $255.3 million jump in Bitcoin (BTC) mining revenue, which reached $576.3 million in 2025 amid a rise in operational hashrate and higher average Bitcoin prices. During the year, Riot produced 5,686 Bitcoin, up from 4,828 BTC in 2024.
The average cost to mine one Bitcoin, excluding depreciation, climbed to $49,645 from $32,216 in 2024. Riot attributed the higher cost largely to a 47% increase in the global network hashrate, which increased mining difficulty. That impact was partly offset by a 68% increase in power credits received during the year, the company said. Engineering revenue also rose, reaching $64.7 million compared with $38.5 million in 2024.
Despite the record performance, Riot reported a net loss of $663 million because of accounting adjustments and changes in the paper value of its Bitcoin holdings. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) for the year was $13 million.
Related: High-yield bond surge signals rising risk, demand in BTC mining, AI infrastructure
Riot closes 2025 with 18,005 BTC worth $1.6 billion
Riot ended 2025 with 18,005 Bitcoin on its balance sheet, including 3,977 BTC pledged as collateral. Based on a year-end Bitcoin price of $87,498, those holdings were valued at roughly $1.6 billion. The company also held $309.8 million in cash, of which $76.3 million was restricted.
In January, Riot signed a data center agreement with chipmaker AMD and sold Bitcoin to buy 200 acres of land in Rockdale, Texas. The move came after activist investor Starboard Value said the company’s shift toward artificial intelligence and high-performance computing could carry a valuation of up to $21 billion, urging the Bitcoin miner to accelerate the pivot.
Riot’s shift toward AI and data centers comes amid similar moves by other major miners. Companies including Hive, Hut 8, TeraWulf and Iren are converting mining facilities and power capacity into data-center operations, and some players such as CoreWeave have already transitioned fully into AI infrastructure.
Related: Trump family-backed miner American Bitcoin posts $59M quarterly loss
Bitcoin miners struggle amid crypto slump
Several publicly traded Bitcoin miners faced pressure in 2025 as crypto prices weakened. Core Scientific reported fourth-quarter revenue of $79.8 million, down 16% year-on-year and below analyst forecasts, with mining revenue almost halved to $42.2 million.
TeraWulf also missed estimates, reporting quarterly revenue of $35.8 million, down from $50.6 million in the previous quarter and below expectations. MARA Holdings posted even steeper losses. The miner reported a fourth-quarter net loss of $1.71 billion, compared with net income of $528 million a year earlier, as revenue slipped 6% to $202.3 million.
Magazine: Bitcoin may take 7 years to upgrade to post-quantum — BIP-360 co-author
- OKX’s AI toolkit launch has not lifted market sentiment.
- OKB token price remains range-bound with neutral momentum.
- The key OKB price levels are the support at $72 and the resistance at $82.
OKB token remains under pressure despite OKX crypto exchange unveiling an upgrade to its OnchainOS infrastructure that introduces an AI toolkit built for developers.
The new system is designed to help autonomous agents interact directly with blockchain networks.
This will allow developers to plug AI models into wallet functions, trading routes, and market data feeds without building everything from scratch.
While the move aims at making OKX the backend layer for AI-driven crypto execution, the excitement around the product has not translated into a clear recovery for its native token, OKB.
At press time, the OKB token was trading at around $75.88, after a modest 24-hour decline of 0.3%.
Even though the altcoin remains far above its early-cycle lows, it has fallen more than 60% over the past year and its all-time high of $255.50, reached in August 2025, still looms large above the current price.
Technical analysis shows OKB in consolidation
From a technical standpoint, OKB is trading in a narrow range, although it appears to closely mirror Bitcoin’s price movements, which means broader market sentiment remains a critical factor.
Recent OKB price movements show that the cryptocurrency is consolidating rather than trending.
The Relative Strength Index (RSI), though having bounced from an oversold condition, is still sitting close to the oversold region at 39.74 at press time.
In case of a bullish breakout, the immediate resistance sits near the 7-day simple moving average at $76.657.
On the downside, the 61.8% Fibonacci retracement level at $73.31 has served as key support, with a second support zone near $72.62 based on recent price action.
These two levels create a support band that traders should closely watch if the market breaks down from the current consolidation.
If that support band fails, historical data points to $68.05 as the next area where buyers previously stepped in.
OKB token price prediction
While the AI toolkit gives OKX a compelling long-term story, OKB’s price action suggests traders want proof of impact before bidding the token higher.
The near-term price outlook for OKB remains neutral unless a decisive breakout occurs.
A strong move above $76.77, supported by higher trading volume, would be the first signal of short-term strength.
If buyers push the price above the $82.47 resistance, momentum could expand.
Historically, sustained trading above $82.47 has paved the way for $93.50, according to CoinLore.
Beyond that level, the next resistance to monitor would be $104.84.
But if bears outweigh bulls, a drop below $73.31 and $72.62 would weaken the current structure.
Such a move would likely expose the token to a retest of $68.05.
Bitcoin stands at a sensitive stage after a prolonged decline. However, several macroeconomic and on-chain signals suggest a strong reversal is possible. Many analysts even expect a medium-term recovery that could last several months.
Below are three main reasons why many analysts believe in this recovery scenario.
Correlation Between Bitcoin and the ISM Manufacturing PMI
First, the US ISM Manufacturing PMI recorded its second consecutive month of expansion. According to the latest report from the Institute for Supply Management (ISM), the February 2026 PMI reached 52.4%. Although the figure declined slightly from 52.6% in the previous month, it still exceeded market expectations of 51.8%.
This marks the second consecutive reading above 50. It ends a three-year contraction in the US manufacturing sector. The rise in this index suggests an environment in which investors expand their risk appetite. That condition creates room for capital to flow into Bitcoin.
Analyst Joe Consorti highlighted the correlation between this index and Bitcoin’s price in previous cycles. He suggested that the current setup signals a potential trend reversal.
“Historically, this has lined up with the early start of BTC bull markets (excluding 2022),” Joe Consorti commented.
Bitcoin’s Inter-Exchange Flow Pulse (IFP) Signals a Shift in Sentiment
Second, analyst CW believes a “golden cross” is about to appear on Bitcoin’s Inter-Exchange Flow Pulse (IFP) indicator.
CryptoQuant, an on-chain data and analytics platform, explains that IFP measures Bitcoin flows between spot and derivatives exchanges.
This flow data reflects market sentiment. When a large amount of Bitcoin moves to derivatives exchanges, the indicator signals a bullish phase. Traders transfer coins to open long positions in the derivatives market.
In contrast, when Bitcoin flows from derivatives exchanges to spot exchanges, the indicator signals the start of a bearish phase. This situation often occurs when traders close long positions, and large investors reduce their risk exposure.
In the past, this signal preceded strong recoveries from 2023 to 2025. Currently, after 1 year of correction, the golden cross is approaching. If the crossover receives confirmation, it would suggest the beginning of a new bullish cycle for Bitcoin.
“The golden cross is imminent in the BTC Inter-exchange Flow Pulse (IFP). After a year of correction, the price is ready to rise again. Everyone, buckle your seat belts,” analyst CW stated.
Five Consecutive Monthly Red Candles Signal Selling Exhaustion
Third, five consecutive monthly red candles are extremely rare. Bitcoin closed February 2026 with its fifth straight red monthly candle. This marks only the second time in history that such a streak has occurred.
The first instance took place during 2018–2019, when Bitcoin recorded six consecutive red candles. After that period, Bitcoin printed five successive green candles. The price surged more than 300%, rising from around $3,400 to $14,000.
Although the historical sample remains small, a longer red streak suggests that selling pressure is nearing exhaustion. A strong reversal can occur once buying demand returns.
“5 or 6 monthly RED candles doesn’t matter now, because the bulk of the drawdown is behind us and all the upside is still in front of us,” analyst Satoshi Flipper stated.
These signals have historically confirmed a multi-month upward trend. A recent report by BeInCrypto also reinforces the scenario that Bitcoin has entered a bottoming phase. However, analysts still see room for a deeper decline.
Analysts at BeInCrypto predict that March will likely depend on whether the $62,300 support level holds or the $79,000 resistance level breaks first.
Leading stablecoin issuer Tether has secured a sign-off from Deloitte for the first reserve report tied to its new U.S.-regulated stablecoin, after years struggling in its relationships with major accounting firms.
Deloitte reviewed a report prepared by Anchorage Digital Bank, which issued the company’s new USAT token. In a letter released Monday, the accounting firm said Anchorage reported $17.6 million in reserve assets backing 17.5 million USAT tokens in circulation. The token’s market cap has, since the report, risen to nearly $20 million as its growth accelerates.
The total market capitalization of the stablecoin sector has, in fact, been growing rapidly. It’s now past $315 billion, according to CoinMarketCap data, with Tether’s USDT making up $183 billion of that. Circle’s USDC comes in second place, at $76 billion.
The new USAT token follows the passage of the Genius Act last summer. The law limits the types of assets that can back stablecoins and requires larger issuers to move under federal oversight. USAT is structured to comply with those rules.
Third-party attestations such as this differ from full audits, however. They offer a snapshot of reserves at a specific point in time rather than a deep review of company finances.
Tether has been leveraging the revenue it generates from the assets backing its stablecoins to invest in a plethora of industries. These include a majority stake in Latin American agricultural firm Adecoagro (AGRO), a privacy-focused health app, a stake in video-sharing platform Rumble (RUM). More recently, it invested $200 million in digital marketplace Whop.
The United States Attorney’s Office for the District of Massachusetts filed a civil forfeiture action Monday seeking to recover 327,829.72 USDT, allegedly involved in a money laundering scheme connected to an online romance scam.
Summary
- DOJ is seeking to recover approximately $327,829 in USDT linked to a romance fraud and money-laundering scheme.
- Investigators say the stolen funds were routed through intermediary wallets and converted to stablecoin to conceal origin.
- The action underscores continued federal efforts to trace and reclaim crypto assets to return them to defrauded Americans.
Justice Department targets crypto laundering in online romance scam
The complaint, filed in federal court, names the cryptocurrency as defendant property and seeks its forfeiture under federal law as proceeds of fraud and laundering.
According to the complaint, the stolen funds originated from a Massachusetts resident who was targeted in late 2024 on a dating app. The fraudster, identified only by an alias, convinced the victim to send funds for purported cryptocurrency investments that never existed.
Rather than investing the money, the scammers diverted it through a series of cryptocurrency wallets and ultimately converted it to USDT, a common tactic to obfuscate the origin and movement of illicit proceeds.
Several of the wallets in question were seized by law enforcement in August 2025 after blockchain analysis traced connections to the scam.
Under U.S. civil forfeiture law, property traceable to illegal activity may be seized by the government and ultimately returned to victims if the court finds it to be proceeds of crime. The Justice Department’s action allows third parties with a legitimate interest in the property to file claims before any forfeiture is finalized.
Prosecutors said the forfeiture complaint is part of broader efforts to target online frauds, including romance scams, investment schemes, and cyber-enabled financial crime that increasingly leverage cryptocurrency to move and hide funds.
The case highlights both the growing sophistication of crypto-related fraud and law enforcement’s expanding use of blockchain analysis to trace and reclaim stolen digital assets for fraud victims.
Bank of Japan Governor Ueda Kazuo said the rapid integration of blockchain and artificial intelligence is reshaping the financial system, positioning central banks to play a pivotal role in anchoring trust as crypto-linked infrastructure matures.
Summary
- The BoJ is exploring issuing or connecting central bank money to blockchain networks, including through Project Agorá and domestic sandbox testing.
- Japan’s retail CBDC program remains active, with technical experiments aimed at preparing digital cash as a future “anchor of trust.”
- Ueda warned that fragmented blockchain systems could create systemic risk unless central bank money bridges networks and ensures settlement finality.
Bank of Japan’s Ueda backs blockchain settlements, advances CBDC experiments
Speaking at FIN/SUM 2026 in Tokyo, Ueda described blockchain as moving firmly into its “implementation phase,” with decentralized finance (DeFi), smart contracts and tokenized assets increasingly influencing settlement, payments and cross-border finance.
He emphasized that blockchain’s programmability, particularly atomic transactions that bundle multiple actions into a single execution, could streamline complex processes such as delivery-versus-payment (DvP) and cross-border transfers.
For crypto markets, the speech revealed two key themes: interoperability and settlement in central bank money.
Ueda warned that a fragmented ecosystem of multiple blockchains and traditional payment rails could create conversion bottlenecks and systemic risks if interoperability is not ensured. He suggested central bank money, potentially in tokenized form, could function as a bridge across networks, preserving the “singleness of money” while enabling innovation.
The BOJ is advancing several initiatives with direct implications for digital assets. Its retail central bank digital currency (CBDC) pilot continues technical testing, while Project Agorá — a joint effort with other central banks and major financial institutions — is exploring tokenized central bank deposits on blockchain networks for cross-border payments.
A separate BOJ sandbox is testing how current account deposits at the central bank could be used to settle transactions conducted on distributed ledgers.
Ueda also highlighted AI’s growing role in analyzing blockchain transaction data for risk management and AML/CFT compliance, signaling closer scrutiny of crypto-linked activity even as innovation expands.
The message to markets was clear: blockchain-based finance is no longer experimental. But its long-term stability, Ueda said, will hinge on central banks embedding trust, liquidity and settlement finality into the next generation of digital infrastructure.
Solana price tanked over 7% on Monday as fears of the impact of the ongoing U.S.-Iran war continued to drive investors away from risk assets. Current technical signals suggest the token could be set for a downturn.
Summary
- Solana price has remained in a downtrend as network revenue declined amidst a market-wide downturn.
- A bearish flag pattern has positioned the token for more downside.
According to data from crypto.news, Solana (SOL) price fell 7% from $88.05 on Sunday to an intraday low of $81.86 on Monday, March 2. Subsequently, it attempted a breach of the $90 resistance supported by a broader market recovery, but the rally lost steam just below that mark.
On the monthly timeframe, Solana has fallen over 30%, and is down over 44% from this year’s highs.
Solana price has remained in a downtrend as network revenues have fallen. Notably, the weekly revenue generated by the Solaba network has dropped over 30% from what was recorded during mid January, data from DeFiLlama show.
The total value locked in the network has also fallen from over $9 billion recorded on Jan. 17 to $6.64 billion at the time of writing.
With both network revenue and TVL going down, investors are concerned that Solana’s explosive growth phase is over, and the memecoin fever that fueled the network is finally breaking.
Demand for the token across the derivatives market has also contributed to the downturn. Data from CoinGlass show that SOL futures open interest has scaled back by nearly 45% to $4.93 billion from its January high of $8.88 billion as traders unwind positions awaiting signs of more calmness in the global geopolitical landscape.
Solana price is also affected by the market-wide downturn in response to the ongoing U.S.-Iran conflict, which has pushed investors away from risk assets to more traditional alternatives, as they expect more volatility over this week.
The most recent trigger came after the retaliatory attack from Iran on U.S. ships over the weekend, stationed around the Strait of Hormuz, sparking a jump in oil prices. Investors are concerned this could lead to higher inflation in the U.S., which could likely force the Fed to hike interest rates or hold them steady at restrictive levels for longer.
Risk-assets like Solana tend to benefit from interest rate cut expectations and struggle when the Fed sets a hawkish tone.
On the daily chart, Solana price has formed a bearish flag pattern since the token entered a downtrend from mid January this year, before moving into consolidation over the past few weeks. Bearish flags have typically been precursors to further downward breakouts.
Other technical indicators also favour the bears. The Supertrend has flashed red while the Aroon lines have pointed downwards, with the Aroon Down at 50%, indicating that sellers still maintain firm control of the market.
Hence, Solana price risks dropping to the Feb. 6 low of $70 if the current bearish momentum prevails, especially considering the broader downturn.
On the contrary, a rebound above $90, a resistance level that the token has struggled to break multiple times over the past few weeks, could offer the necessary optimism for a rally towards the $100 psychological resistance level.
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
Bitcoin (BTC) rallied to $70,000 on Monday amid escalating tensions in the Middle East. CryptoQuant data shows short-term holder losses transferred to exchanges fell to a two-week low, contrasting with the heavier selling seen in early February.
Bitcoin short-term sellers step back
The short-term holder (STH) profit/loss (P&L) to exchanges metric tracks how much Bitcoin recent buyers send to exchanges at a profit or loss. These participants tend to amplify volatility during stress events.
On March 1, the realized losses fell to 3,700 BTC even as geopolitical tensions between the United States and Iran escalated in the Middle East. Bitcoin dipped to $63,000 during that window, but exchange inflows from this cohort did not expand in response.
For comparison, on Feb. 5–6, the STHs sent 89,000 BTC to exchanges at a realized loss within 24 hours. That marked a peak capitulation window. Since then, the loss-driven inflows have steadily compressed.
Crypto analyst MorenoDV noted that the most event-sensitive holders have not accelerated distribution and exhibited “zero panic.” The drop in loss transfers signals that the sell pressure from recent buyers has cooled.
A strong rally may depend on whether realized losses stay contained or reaccelerate toward prior capitulation levels during this period of geopolitical uncertainty.
Related: Michael Saylor’s Strategy buys $204M of Bitcoin in 101st purchase
BTC futures deleveraging meets external liquidity
BTC derivatives data indicate a significant risk reduction. Crypto analyst Darkfost highlighted that Binance open interest declined to 97,680 BTC from 130,800 BTC since the start of the year, a 25% contraction.
The estimated leverage ratio, which compares open interest to exchange BTC reserves, fell to a 0.146 weekly average. Levels below 0.15 have historically aligned with aggressive deleveraging phases during this cycle.
On the technical side, Bitcoin is attempting to reclaim its Monthly RVWAP (rolling volume-weighted average price), currently near the high-$68,000 region. The Monthly RVWAP is a volume-weighted average price anchored to the start of the month. BTC trading above it places the average monthly participant back in profit and often shifts the short-term positioning bias of traders.
The four-hour chart shows the price pushing through $70,000 and approaching the first external liquidity pocket from $70,000 to $71,500. Converting that range into support may trigger a price expansion to the $80,000 region, where prior supply capped upside in January. Crypto trader LP said,
“On the HTF, low-leverage liquidation clusters are stacking near and just above the range highs, sitting between 70–73K. These higher timeframe liquidity pools often act as magnets when they build in size.”
The BTC spot flow data adds further context. Binance spot printed roughly $7.79 million in positive delta during the breakout leg, Coinbase added about $1.16 million, and OKX contributed nearly $3.7 million.
The positive delta across venues signals aggressive spot bidding rather than isolated derivatives-driven activity. With leverage use reduced and loss-driven selling falling, the market’s attention shifts to how the price may react around the $71,500 liquidity band.
Related: Will Bitcoin crash if oil prices hit $100 per barrel?
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Bitcoin price surged to $69,000 Tuesday before a correction, putting it on pace for its strongest daily performance in nearly a week, as VanEck CEO Jan VanEck suggested the world’s largest cryptocurrency may be carving out a cyclical bottom.
Summary
- VanEck CEO says 2026 represents Bitcoin’s typical bear-cycle year but believes a bottom may be forming.
- Bitcoin rallied 6%, rebounding from strong support near the $60,000–$62,000 zone.
- A break above $70,000 could confirm a broader recovery, while rejection may prolong the correction.
Speaking on CNBC, VanEck framed 2026 as the fourth year in Bitcoin’s historical halving cycle, a period that has typically coincided with steep drawdowns following three consecutive years of gains.
“That’s why we’re in a Bitcoin bear market,” he said, pointing to the asset’s programmed supply cap of 21 million coins and its four-year halving mechanism, which reduces miner rewards and has historically shaped boom-and-bust patterns.
Despite acknowledging the broader downturn, VanEck said recent price action could represent “a very nice sign of life,” adding that he believes the market may be in the process of bottoming.
The move higher was not isolated to Bitcoin. VanEck noted that the entire crypto complex, including large-cap tokens and publicly traded firms such as Coinbase and Circle, participated in the rally.
However, he cautioned against reading too much into a single day’s action.
Bitcoin eyes break above $70K as bottoming pattern forms
Technically, Bitcoin has rebounded from February lows near the $60,000–$62,000 range and is now consolidating around $67,000.
The area around $60,000 has acted as firm support following a sharp rejection lower last month, suggesting buyers are stepping in at that level.
Immediate resistance stands near $70,000, with a broader supply zone between $75,000 and $80,000.
Momentum indicators show selling pressure easing, while volatility has stabilized after February’s spike, conditions that often accompany base formation.
A sustained break above $70,000 would strengthen the case that a cyclical bottom is in place, while failure to hold current levels could reinforce the longer-term bear narrative.
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