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Bitcoin price confirms bullish divergence as liquidations spike, eyes $71k resistance

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Bitcoin's daily RSI has formed a bullish divergence with its price.

Bitcoin price has confirmed a bullish divergence on the daily chart as liquidation levels shot up on Monday.

Summary

  • Bitcoin’s Relative Strength Index has formed a bullish divergence.
  • Several key economic data points, including FOMC minutes from January, could decide Bitcoin’s trajectory this week.
  • Over $75 million of positions were liquidated from Bitcoin’s futures market.

The daily chart for Bitcoin shows that its Relative Strength Index has formed a bullish divergence with its price, which has been in a prolonged downtrend since mid-January.

Bitcoin's daily RSI has formed a bullish divergence with its price.
Bitcoin’s daily RSI has formed a bullish divergence with its price — Feb. 16 | Source: crypto.news

A bullish RSI divergence occurs when the RSI records higher lows while the related asset’s price continues to set lower lows. Such a technical formation has often been a precursor to a significant trend reversal or a relief rally.

Besides the bullish RSI, another positive indicator came from the MACD histogram and moving averages, which showed the MACD line had just crossed over the signal line, a telltale sign of an incoming bullish trend. Together, these indicators suggest that bullish momentum seems to be building, with bulls starting to assert dominance over the market.

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The shift comes after Bitcoin bulls attempted a rebound after the bellwether fell near the $65k support zone on Thursday. The asset rose sharply over the following days but faced resistance around $71k for the second time in the past 7 days, as investors remained on the sidelines awaiting key economic data expected to be released this week.

First, Federal Reserve Governor Michael S. Barr’s speech on Wednesday, Feb. 18, is expected to focus on the intersection of Artificial Intelligence and the labor market. On the same day, the Federal Reserve will release the minutes from its January meeting, offering further clarity on the central bank’s stance on monetary policy. Finally, on Friday, the U.S. will release Q4 GDP and core PCE inflation data, which will also act as a major market catalyst.

Upcoming macro data should illuminate the Fed’s stance on monetary easing for the remainder of 2026, offering the structural clarity necessary for Bitcoin to establish its next trend.

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Key levels to watch

For now, the path of least resistance for Bitcoin (BTC) appears to be higher, with the $71K resistance line acting as the next key resistance level that traders will keep an eye on this week. 

A decisive break above it could lead to a reclaim of $75,000, which has previously served as a key support area in past cycles. On the contrary, a drop under $65,000 could validate the downtrend towards a likely retrenchment towards the $60K low observed on Feb. 6.

In the meantime, massive liquidations have been sweeping through the broader crypto market. In the past 24 hours alone, the crypto market saw nearly $300 million liquidated, with Bitcoin alone accounting for over $75 million worth of positions being liquidated. Persistent liquidations may keep Bitcoin price under pressure throughout the upcoming sessions.

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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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CLARITY Act Faces Slim Odds in 2026 Without April Committee Move: Galaxy Exec

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CLARITY Act Faces Slim Odds in 2026 Without April Committee Move: Galaxy Exec

The proposed US CLARITY Act, a bill intended to establish clearer rules for digital asset markets, may struggle to pass this year unless it advances quickly through Congress, according to a senior executive at Galaxy Digital.

Key Takeaways:

  • The US CLARITY Act may fail to pass in 2026 if it does not clear a Senate committee by the end of April.
  • Debate over stablecoin yield and broader regulatory authority remains a major obstacle for the bill.
  • Competing legislative priorities in Congress are narrowing the window for crypto market structure reform.

Alex Thorn, head of firmwide research at Galaxy Digital, warned that the legislation faces a narrowing window for progress in 2026.

In a post on X on Saturday, Thorn said the bill must clear a Senate committee by the end of April to remain viable.

CLARITY Act Must Clear Committee by April to Stay Alive in 2026: Exec

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“If CLARITY doesn’t pass committee by the end of April, odds of passage in 2026 become extremely low,” Thorn wrote, adding that the measure would need to reach the Senate floor by early May to maintain momentum.

The timeline challenge stems partly from competing priorities in Washington. Senate Majority Leader John Thune recently indicated that the chamber is unlikely to address digital asset market structure legislation before April, as lawmakers first focus on the SAVE America Act.

The proposed measure would require individuals to present proof of US citizenship in person when registering to vote.

While scheduling constraints present one obstacle, Thorn said policy disagreements could create additional complications for the bill.

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One of the most debated provisions concerns whether stablecoin issuers should be allowed to distribute yield or rewards to users.

Traditional banking groups have warned that such incentives could draw deposits away from banks, while crypto companies argue the feature would expand the usefulness of stablecoins in payments and finance.

Thorn suggested the stablecoin rewards debate may not be the final barrier.

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Other unresolved questions surrounding decentralized finance, protections for blockchain developers and the division of regulatory authority between agencies could emerge once the current dispute is resolved.

Lawmakers themselves acknowledge that compromise will likely be necessary. Angela Alsobrooks, a member of the Senate Banking Committee, recently said both crypto advocates and banking interests may need to accept concessions to move legislation forward.

Crypto Market Structure Law May Not Take Effect Until 2029: TD Cowen

Despite earlier optimism from some lawmakers that the CLARITY Act could reach Congress this spring, outside analysts remain cautious.

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Investment bank TD Cowen warned earlier this year that comprehensive crypto market structure legislation could face delays until 2027 and may not take effect until 2029 if political gridlock continues.

Under that scenario, the crypto industry would need to accept that presidential election results could shape final rules, while Democrats might have to concede that conflict provisions would not apply retroactively to Trump.

Coinbase’s institutional strategy chief has also said that comprehensive crypto market structure legislation will take longer to finalize than stablecoin rules, but remains confident that bipartisan momentum will carry the bill across the finish line in 2026.

The debate has also drawn attention from the White House. Earlier this month, Donald Trump urged lawmakers to finalize a market structure framework quickly, criticizing banks for slowing the legislative process.

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The post CLARITY Act Faces Slim Odds in 2026 Without April Committee Move: Galaxy Exec appeared first on Cryptonews.

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Ethereum Foundation Offloads $10.2M ETH to BitMine in OTC Deal

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Crypto Breaking News

The Ethereum Foundation has completed a direct OTC sale of 5,000 Ether to BitMine Immersion Technologies, a move valued at about $10.2 million at the agreed price of $2,042.96 per ETH. The deal was announced in a Saturday post on X, with proceeds earmarked to support the foundation’s core operations—from protocol research and development to ecosystem growth initiatives and community grant programs. The on-chain transfer will originate from a Safe multisignature wallet, underscoring a cautious approach to treasury management. BitMine Immersion Technologies, a NYSE American-listed company trading under BMNR, has established itself as a major Ether holder, boasting more than 4.5 million ETH worth roughly $9.3 billion according to treasury-tracking services. The arrangement reflects ongoing treasury moves as the ecosystem weighs liquidity against long‑term network security and growth.

The sale represents the Ethereum Foundation’s second direct corporate ETH OTC transaction. In July 2025, the foundation sold 10,000 ETH to SharpLink Gaming at an average price around $2,572.37, a transaction valued at roughly $25.7 million. Those operations fit within a treasury framework the Foundation publicly introduced in June 2025, which aims to convert a portion of ETH holdings into fiat to fund a fiat-based operating reserve. The policy targets annual spending of roughly 15% of treasury holdings while preserving a multi-year runway for core activities.

In tandem with liquidity management, the Foundation has begun staking a portion of its treasury, with plans to deploy around 70,000 ETH into validator infrastructure using open-source tools. The staking initiative aligns with a broader push to diversify the network’s security model while encouraging community-led participation in validator infrastructure. The move follows a broader shift toward leveraging on-chain infrastructure to support long‑term network health, even as treasury activity continues to balance immediate operating needs with future protocol upgrades.

Earlier this week, the Foundation also published a mandate outlining its role in stewarding the Ethereum ecosystem, emphasizing decentralization, user sovereignty over assets and data, and the preservation of openness, censorship-resistance, and privacy. The document reiterates that Ethereum should remain open-source and resilient while scaling to support global adoption. The Foundation says its focus will center on core protocol upgrades, long-term research, cybersecurity, and developer tools, while gradually reducing direct influence over the network’s trajectory.

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As part of these broader efforts, the Ethereum Foundation has highlighted the importance of maintaining a balanced treasury—between liquid assets that fund operations and longer-horizon holdings that bolster network security. The ongoing staking program, coupled with selective asset sales, signals a strategy of gradual, governance-aligned treasury management rather than rapid asset liquidation. The organization has also reinforced its stance on decentralization and user sovereignty as guiding principles for future development, a position that remains central to the community’s assessment of Ethereum’s long-term resilience.

Market participants are watching how these treasury decisions influence Ether’s price dynamics and the broader crypto landscape, particularly given the scale of corporate holdings represented by BitMine Immersion Technologies and its peers. The evolving framework could shape how other entities think about treasury diversification, liquidity management, and governance participation in a world where institutional drivers increasingly intersect with open-source protocols.

Why it matters

The Ethereum Foundation’s treasury actions underscore a pragmatic approach to sustaining core protocol work while supporting a broader ecosystem economy. By converting a portion of ETH into fiat to fund operations, the Foundation aims to ensure stable funding for research, development, and community initiatives even as the network continues to evolve through staking, upgrades, and tooling improvements. This approach also highlights how non-profit and corporate treasury strategies can align with long-term network security goals, providing a potential blueprint for other organizations balancing liquidity with stewardship responsibilities.

At the same time, the moves reinforce the role of corporate treasuries as major liquidity anchors in the crypto space. BitMine Immersion Technologies’ distinctive position as a leading Ether holder signals a continued consolidation of ownership among large institutional actors. The presence of such buyers and the timing of OTC sales can influence market depth and price discovery, particularly during periods of macro volatility or shifting risk appetite. For developers and users, the emphasis on decentralization, privacy-preserving design, and censorship resistance remains central to Ethereum’s mission, even as the funding environment evolves to support ongoing protocol work and security enhancements.

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From a governance perspective, the Foundation’s renewed mandate suggests a deliberate calibration of influence: funding core work without exerting heavy-handed direction over the network’s day-to-day decisions. This approach may reassure users that the project remains committed to open governance and community-led development while recognizing the practical needs of sustaining a global-scale protocol. For investors and builders, the outlined priorities—protocol upgrades, long-horizon research, cybersecurity, and developer tooling—could translate into meaningful advances in network usability, security, and scalability over the coming quarters.

What to watch next

  • Monitoring the cadence of future ETH OTC sales by the Ethereum Foundation, including any disclosures on price, volume, and counterparties.
  • Progress on the 70,000 ETH staking plan, including deployment timelines, validator outreach, and integration with open-source infrastructure.
  • Updates to the Foundation’s mandate and any governance signals that indicate shifts in focus or funding strategy.
  • Shifts in corporate treasury activity among Ether holders, as broader market liquidity and risk sentiment evolve.

Sources & verification

  • Ethereum Foundation X post announcing the OTC sale and its use of proceeds.
  • July 2025 sale of 10,000 ETH to SharpLink Gaming and related coverage.
  • Ethereum Treasuries page documenting large Ether holdings and treasury activity.
  • Ethereum Foundation mandate outlining role, goals, and governance stance.

Ethereum Foundation’s second corporate ETH OTC sale and treasury strategy

The Ethereum Foundation announced a second corporate ETH sale in an OTC arrangement, transferring 5,000 Ether to BitMine Immersion Technologies (EXCHANGE: BMNR) for about $10.2 million at roughly $2,042.96 per ETH. The announcement, disseminated via an X post, makes clear that the proceeds will underwrite the foundation’s ongoing core operations: protocol research and development, ecosystem growth initiatives, and community grant programs. The on-chain payment is slated to come from the foundation’s Safe multisignature wallet, a custody mechanism that reflects the group’s emphasis on secure treasury management. BitMine Immersion Technologies—the NYSE American-listed company known by the ticker BMNR—has emerged as a leading corporate holder of Ether, with more than 4.5 million ETH in its treasury, valued at approximately $9.3 billion according to public trackers. This acquisition underlines a broader trend of large institutional actors participating directly in Ethereum’s long‑term funding and asset allocation strategy, complementing the foundation’s funding priorities.

The deal constitutes the federation’s second direct crypto-to-cash sale to a corporate treasury holder and follows a July 2025 transaction in which the foundation sold 10,000 ETH to SharpLink Gaming at an average price of about $2,572.37, totaling roughly $25.7 million. These OTC transactions are part of a formal treasury management framework launched in June 2025, designed to convert a portion of ETH holdings to fiat to sustain a fiat-based operating reserve. The framework sets a target of spending roughly 15% of treasury holdings annually to maintain a viable operating runway across multiple years, while preserving enough liquidity to fund ongoing protocol work and ecosystem initiatives.

The Foundation’s staking initiative also took a step forward this week, signaling a dual-pronged strategy: maintain liquidity for operations while expanding on-chain security through validator deployment. The plan calls for approximately 70,000 ETH to be staked using open‑source infrastructure to bolster the network’s validator base. This move aligns with broader efforts to diversify the treasury beyond liquidity alone, aiming to strengthen long-term security and resilience at a time when Ethereum continues to scale through upgrades and tooling improvements.

In a separate development, the Foundation published a mandate detailing its stewardship of the Ethereum ecosystem, stressing decentralization and user sovereignty as core principles. The document lays out a plan to keep Ethereum censorship-resistant, open-source, and privacy-preserving, while supporting scalable adoption on a global scale. The Foundation emphasizes a focus on core protocol upgrades, sustainable long‑term research, cybersecurity, and developer tooling, with a plan to progressively reduce direct governance influence over the network. This framing signals a deliberate shift toward more community-led governance and transparent, long-horizon funding for the network’s ongoing evolution.

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Market observers continue to parse how these treasury moves interact with the broader dynamics of liquidity, risk sentiment, and regulatory developments shaping the crypto sector. By balancing periodic asset sales with strategic staking, the Ethereum Foundation aims to sustain essential operations and fund innovation, while aligning with a decentralization ethos that remains central to Ethereum’s identity. The ongoing evolution of the foundation’s treasury framework will be watched closely by developers, investors, and users who rely on Ethereum’s infrastructure for a wide range of applications.

Risk & affiliate notice: Crypto assets are volatile and capital is at risk. This article may contain affiliate links. Read full disclosure

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Pi Network Core Team Celebrates Pi Day 2026: Here’s What Every Pioneer Needs to Know

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Pi Network Core Team Celebrates Pi Day 2026: Here’s What Every Pioneer Needs to Know

Due to the resemblance to the mathematical constant π (3,14), March 14 is well known as Pi Day within the vast project community. Consequently, all eyes were on the protocol yesterday, with multiple posts online highlighting the event.

The Core Team also made a highly anticipated statement, with the co-founders praising it on the seventh birthday. They introduced a series of new ecosystem upgrades aimed at expanding utility, developer participation, and overall network infrastructure.

Pi Day Arrived

In an explanatory blog post, the team outlined the introduction of several key developments. These include the Pi Launchpad MVP on Testnet, protocol upgrades enabling future smart contract functionality, second Mainnet migrations, KYC validator rewards, and new Mainnet capabilities for Pi App Studio.

These improvements represent the next stage of the project’s long-term strategy to build an inclusive, utility-driven blockchain ecosystem with real-world applications and broad accessibility for the underlying token. The team added that Pi Day serves as an opportunity to introduce new tools that enable both developers and everyday users to participate more actively in building and using decentralized applications.

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The Pi Launchpad on Testnet is among the most notable developments. It’s designed to introduce a new ecosystem token model focused on product utility and user acquisition rather than capital fundraising.

It’s still only available as a Testnet app through the Pi Browser, but it aims to help projects develop ecosystem tokens that are tied directly to functional applications, the team explained. Unlike other Web3 token launches, Pi has focused on “product-first” protocols, requiring applications to already be functional before going live.

The team added that the Launchpad could help strengthen the ecosystem’s future decentralized exchange (DEX) by creating a pipeline of legitimate tokens with real utility, helping avoid speculative or low-quality token launches.

Node Upgrades, Smart Contract Foundations

In addition to the Launchpad release, the Core Team confirmed that all major nodes have upgraded to version 20.2 following other reports from the past few days, with the Mainnet blockchain expected to complete its transition to Protocol 20 soon.

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This upgrade lays the technical groundwork for smart contract functionality, enabling developers to build decentralized applications and automate blockchain-based processes. At first, the expected categories will include subscription systems, escrow services, and NFT-related apps.

The announcement also highlighted the start of the second Mainnet migrations, something the community has been asking for months. It allows Pioneers who previously migrated their balances to transfer additional eligible Pi to the blockchain after activating 2FA for Pi Wallets.

Pi Network also released the first round of KYC validator rewards, distributing compensation to community members who helped verify user identities during its massive onboarding process. The pool reached over 16.5 million tokens, supplemented by an additional 10 million Pi contribution from the Pi Foundation.

Separately, Pi App Studio now supports Mainnet applications with integrated Pi payments, which enables select apps to move from Testnet experimentation to live blockchain transactions.

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Lastly, the team confirmed the big news from the past week that Kraken has integrated support for the underlying token, expanding external connectivity between the ecosystem and the broader digital asset market. This announcement sent shockwaves, as PI skyrocketed to a multi-month peak at roughly $0.30 before it erased all gains to under $0.20 as of now.

The post Pi Network Core Team Celebrates Pi Day 2026: Here’s What Every Pioneer Needs to Know appeared first on CryptoPotato.

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BitMine Buys 5,000 ETH From Ethereum Foundation in $10.2M OTC Deal

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BitMine Buys 5,000 ETH From Ethereum Foundation in $10.2M OTC Deal

The Ethereum Foundation has finalized an over-the-counter (OTC) sale of 5,000 Ether to BitMine Immersion Technologies, a transaction worth about $10.2 million based on the agreed price of $2,042.96 per ETH.

In a Saturday post on X, the foundation said proceeds from the sale will support core operations, including protocol research and development, ecosystem growth initiatives and community grant programs. The onchain transfer will originate from an Ethereum Foundation Safe multisignature wallet.

BitMine, a publicly traded company on the NYSE American under the ticker BMNR, has emerged as one of the largest corporate holders of Ether (ETH). Chaired by Fundstrat co-founder Tom Lee, the firm holds more than 4.5 million ETH worth roughly $9.3 billion, according to industry treasury trackers.

Top 6 Ether treasury firms. Source: Ethereum Treasuries

The company has steadily accumulated Ether since mid-2025, following a strategy similar to Strategy’s Bitcoin (BTC) accumulation model.

Related: Ether accumulation data predicts rally to $2.8K, but there’s a catch

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EF conducts second corporate ETH OTC sale

The transaction marks the second time the Ethereum Foundation has sold ETH directly to a corporate treasury buyer via an OTC deal. In July 2025, the organization sold 10,000 ETH to SharpLink Gaming at an average price of $2,572.37, a transaction valued at about $25.7 million.

These periodic sales are part of the Ethereum Foundation’s treasury management framework introduced in June 2025. Under that policy, the organization periodically converts a portion of its ETH holdings to maintain a fiat-based operating reserve. The framework targets annual spending equal to roughly 15% of treasury holdings while maintaining a multi-year operating runway.

The announcement comes shortly after the foundation began staking a portion of its treasury, with plans to deploy around 70,000 ETH into validators using open-source infrastructure.

Related: Ethereum accumulation wallets jump 30%: Will ETH price follow?

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EF publishes mandate outlining its role

This week, the Ethereum Foundation released a new mandate outlining its role in stewarding the Ethereum ecosystem, emphasizing decentralization and user sovereignty over assets and data. The document states that Ethereum should remain censorship-resistant, open source and privacy-preserving while scaling to support global adoption.