U.S. Treasury Secretary Scott Bessent told lawmakers this week that the federal government lacks the legal authority to bail out Bitcoin or direct banks to purchase cryptocurrencies. Summary U.S. Treasury Secretary Scott Bessent said the federal government has no legal authority to bail out Bitcoin or compel banks to buy cryptocurrencies, ruling out taxpayer-funded intervention during market downturns. Lawmakers also pressed Bessent on World Liberty Financial, a Trump-linked crypto venture, with Democrats urging heightened scrutiny of any banking applications tied to potential conflicts of interest or foreign influence. The testimony…
Day: February 5, 2026
Bitcoin Freefall: $70,000 Support Shatters as Bears Take ‘Firm Control’
Bitcoin plunged below $70,000 for the first time since November as the broad selloff dragged total crypto capitalization to $2.47 trillion. Some experts warn of deeper corrections toward $67,000, while others frame the drop as a healthy reset, predicting eventual new highs in 2026 amid volatility. Broad Market Retreat and Reduced Leverage Bitcoin’s ongoing freefall […] Original
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Nic Carter Maps Developer Views on Quantum Threats to Bitcoin Security
Bitcoin developers largely dismiss quantum computing as a near-term threat to network security, according to an index of public statements compiled by Nic Carter. Carter’s Index Shows Bitcoin Developers Largely Unmoved by Quantum Computing Warnings Nic Carter, a general partner at Castle Island Ventures and co-founder of Coin Metrics, assembled comments from Bitcoin developers to […] Original
Ethereum Transfer Surge Mirrors 2018 And 2021 Peaks – What Happens Next?
Ethereum remains under heavy pressure, struggling to hold above the $2,300 level as selling dominates across the broader crypto market. After weeks of weakening structure, price action has failed to attract sustained demand, prompting many analysts to warn that further downside may still lie ahead. With risk appetite fading and leverage being unwound, attention is increasingly shifting from short-term rebounds to signals that could define the next phase of the cycle. Related Reading A recent report from CryptoQuant highlights a notable development on the network side. The Ethereum Transfer Count…
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Bitcoin ETFs ‘Hanging In There’ Despite Price Plunge: Analyst
US-based spot Bitcoin exchange-traded fund (ETF) holders are showing relatively firm conviction despite a four-month Bitcoin downtrend, according to ETF analyst James Seyffart. “The ETFs are still hanging in there pretty good,” Seyffart said in an X post on Wednesday. While Seyffart said that Bitcoin (BTC) ETF holders are facing their “biggest losses” since the US products launched in January 2024 — at a paper loss of around 42% with Bitcoin below $73,000 — he argues the recent outflows pale in comparison to the inflows during the market’s peak. Bitcoin…
Coinbase Premium Hits Yearly Lows Amid Institutional Selloff
The Coinbase Premium Gap, which tracks the price difference between Bitcoin on Coinbase and Binance, has fallen to its lowest level in over a year. An analyst said the move may point to weaker relative demand on Coinbase-linked venues, which are commonly associated with institutional trading. The Coinbase Premium is the price difference between Coinbase’s BTC/USD pair and Binance’s BTC/USDT pair. When it turns negative to this extent, it means that the price of Bitcoin (BTC) on Coinbase Advanced Trade (formerly known as Coinbase Pro) — a platform mainly used…
Full Market Breakdown: Bitcoin, Stocks, Gold & Silver (Gareth Soloway)
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Solana (SOL) Breakdown Accelerates At $90, $80 Suddenly Looks Vulnerable
Solana failed to settle above $102 and extended losses. SOL price is now consolidating losses below $95 and might struggle to start a recovery wave. SOL price started a fresh decline below $100 and $95 against the US Dollar. The price is now trading below $100 and the 100-hourly simple moving average. There is a key bearish trend line forming with resistance at $98 on the hourly chart of the SOL/USD pair (data source from Kraken). The price could start a recovery wave if the bulls defend $90 or $85.…