Bitcoin, that mischievous digital trickster, made a dramatic return to around $70,600 on February 7 after a 14% plunge from its early February highs, which was about as exciting as a drowsy sloth in a library. Meanwhile, the Crypto Fear and Greed Index, that ever-reliable barometer of investor sanity, hit rock bottom with a reading … Read more
Capital flows, on-chain data, and technical structure have conspired to form a most unflattering portrait of bearish despair. One might say the selloff has taken a page from the playbook of a particularly dramatic Shakespearean tragedy.
With a flourish worthy of a magician, Ripple paints this roadmap as an evolutionary leap-from a mere speed demon of a settlement network to a grand financial operating environment fit for the most fastidious regulators. The blog post declares that with “native on-chain privacy, permissioned markets, and institutional lending” expected in mere months, XRPL seeks to become “an end-to-end operating system for real-world finance.” One can only imagine the sighs of relief from institutions who dream of running compliant processes without adding layers of complexity that would make a soufflé collapse.
Tether, ever the financial impresario, has thrown its hat into the t-0 Network ring, a USD₮-powered platform promising to turn cross-border payments into a genteel afternoon tea-swift, low-cost, and with none of the awkwardness of multiple foreign currencies. One might say it’s the financial equivalent of a well-tailored suit: polished, predictable, and utterly devoid of surprises.
The words hung heavy in the Senate Banking Committee, like the smell of manure on a hot summer day. News hounds latched onto it quicker than a farmer to a free tractor, declaring it a sign that the government aims to herd the crypto cattle, not just tip its hat and wave them through.
That bounce also gave a leg up to the more adventurous kin of the crypto family, like Litecoin, which rose roughly 8% for the day.
In another X post, Elite Swing Traders (clearly elite in the way a raccoon is elite at rummaging through trash) pointed out a completed bearish H pattern on the daily chart of the iShares Silver Trust. The drama unfolded when prices stagnated between $70.50-$71.00, a range so thrilling it could put a toddler to sleep. The purchasing energy, which had briefly mistaken itself for a superhero, lost its strength after an impressive gain-like a magician whose rabbit just asked for a union rep.
The buybacks may be executed through the open market, privately negotiated transactions or other methods, including trading plans under Rule 10b5-1, the company said. Galaxy added that it retains the right to suspend or discontinue the program at any time, depending on market conditions and other factors. (Because, of course, nothing is certain except the uncertainty of the stock market!)
The Dow, which you can peek at here, soared 758 points by mid-morning on Feb. 6, or 1.6%, to trade at 49,655.20. It looked as if it had just finished a delicious cream pie and was ready for a nap. The S&P 500 added 1%, while the Nasdaq Composite rose 0.7%. But let’s not pretend this was a victory lap-both indexes still had a week of sulkiness to process after the “tech rout,” which was less of a rout and more of a clumsy giant tripping over its own feet.
Dogecoin’s open interest has fallen below $1 billion, down over 16%, according to Coinglass data. The last time it dropped to these depths was October 2024, just before it pirouetted into an uptrend which led to a high of $4.45 billion in December 2024. October 2024 also marked the bottom for the DOGE price, as it rose from around $0.155 to as high as $0.46.