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Around 2.54 billion XRP has moved to Binance based on the 30 day average of large wallet transfers, signaling a renewed wave of whale activity. Historically, such inflows tend to appear during sensitive price phases and can shape XRP’s short term direction.

Over the past 24 hours, XRP gained about 3 percent amid a broader market bounce. At the same time, daily whale inflows are hovering near 50 million XRP. While not as elevated as the peaks seen in mid 2025, the steady rise in the monthly average suggests a gradual buildup rather than a single large transaction.

Whale flow metrics track tokens transferred from major wallets to exchanges and are often viewed as a proxy for potential sell side pressure. Increased inflows can mean large holders are preparing to sell, hedge, or reposition. In previous cycles, similar spikes have coincided with price corrections due to added supply, though they have also preceded volatility in both directions.

If spot demand remains weak, the additional exchange supply could weigh on price. On the other hand, improving liquidity and stronger participation could indicate strategic positioning ahead of a larger move.

Despite the uptick in inflows and a modest price recovery, bearish pressure remains visible. Analyst CasiTrades noted that a recent trendline break is now acting as resistance. With XRP trading below the previous B wave low, attention has shifted to support near 1.11 dollars and 0.87 dollars. Resistance around 1.40 dollars remains critical, and sustained movement below it keeps downward momentum intact. A broader shift would likely require a move above the 1.65 dollar macro resistance.

Institutional flows have been relatively muted. Data from SoSoValue show no net inflows or outflows for US spot XRP ETFs on February 20 and 23. On February 24, Bitwise’s XRP ETF recorded about 3 million dollars in inflows, offering a modest sign of demand.

Bitcoin continues to trend lower, with analysts warning that prices are moving closer to levels that typically pressure long term holders.

According to CryptoQuant analyst Darkfost, long term holders, who are generally less reactive to short term volatility, are still sitting on average gains of about 74 percent. However, that margin is shrinking as Bitcoin approaches the estimated long term holder cost basis near 38,900 dollars. In previous cycles, bear markets have pushed prices below this level, often triggering a final capitulation phase marked by realized losses of roughly 20 percent before a recovery begins.

Supporting this cautious outlook, Glassnode reported that the 90 day moving average of the Realized Profit Loss Ratio has fallen below 1. This signals a shift toward loss dominated selling, a condition that has historically lasted six months or longer before liquidity meaningfully returns.

Analyst James Check noted that Bitcoin is close to printing five consecutive red monthly candles following the largest volatility spike of the current cycle. One week realized volatility surged above 150 percent, a level commonly associated with capitulation events, while the weekly RSI is among the most oversold readings in Bitcoin’s history. Around 70 billion dollars worth of BTC has also changed hands in the 60,000 to 70,000 dollar range this year.

James Van Straten added that roughly 10 million BTC are now in loss, the fourth highest level on record. With circulating supply nearing 20 million coins and about half currently underwater, he suggested that such capital destruction has historically aligned with bear market bottoms.

Bitcoin saw a modest rebound during early Asian trading on Wednesday, briefly reclaiming 66,000 dollars after adding about 2,000 dollars. Even so, sentiment remains fragile, and the broader structure still reflects lower highs, with 60,000 dollars acting as key support.

The Ethereum Foundation has begun staking part of its treasury holdings, marking a direct move into Ethereum’s proof of stake consensus under the treasury policy introduced last year.

On Tuesday, the Foundation deposited 2,016 ETH and revealed plans to stake around 70,000 ETH in total. All rewards generated will flow back into the treasury. The setup runs بالكامل on open source infrastructure, using Dirk for distributed validator signing and Vouch to coordinate validator operations across multiple Beacon and Execution client combinations.

Dirk spreads signing responsibilities across different geographic regions to reduce single points of failure, while Vouch helps manage client diversity and operational risk. The Foundation confirmed it is using Type 2 withdrawal credentials, which allow more flexible validator exits, streamlined key management, and higher effective balances per validator. Block production is being handled locally, meaning the Foundation is solo staking its ETH and earning native yield directly through Ethereum’s protocol.

Meanwhile, ETH prices have remained under short term pressure. Over the past 24 hours, the asset fell from around 1,920 dollars to near 1,820 dollars during Asian trading, with sellers maintaining control.

Despite the recent weakness, some analysts argue the broader outlook remains constructive. Market watcher Merlijn The Trader noted that ETH is trading within a five year demand zone that has historically aligned with accumulation phases rather than distribution, suggesting longer term momentum could be building quietly beneath the surface.

The bankruptcy administrator overseeing the wind down of Terraform Labs has filed a lawsuit against Jane Street, accusing the trading firm of using insider information to profit before and during the collapse of the Terra Luna ecosystem. The complaint was submitted in Manhattan federal court and seeks damages tied to alleged positioning ahead of the market crash that devastated investors.

According to the filing, Jane Street and several employees, including co founder Robert Granieri, are accused of obtaining material nonpublic information from insiders at Terraform and using it to execute highly profitable trades. The administrator claims the firm leveraged close market relationships to gain an unfair advantage during one of the most significant collapses in crypto history.

The lawsuit outlines specific events in May 2022. On May 7, Terraform moved 150 million TerraUSD from the Curve liquidity pool without public notice. Within minutes, a wallet allegedly linked to Jane Street withdrew 85 million TerraUSD from the same pool. Days later, as TerraUSD began losing its dollar peg, internal communications were reportedly set up between Terraform executives and Jane Street representatives to discuss potential bids on Luna, while the trading firm allegedly continued to profit from volatility.

Jane Street has strongly denied the allegations, describing the lawsuit as an attempt to recover funds lost due to what it calls multibillion dollar fraud by Terraform’s own leadership. The firm stated it will defend itself vigorously against what it considers baseless claims.

Terraform Labs ultimately collapsed in May 2022 after TerraUSD failed to maintain its peg and Luna plunged to near zero, wiping out roughly 40 billion dollars in value and impacting hundreds of thousands of investors globally. The company filed for bankruptcy in January 2024 and later established a wind down trust to manage creditor claims. Co founder Do Kwon is now serving a 15 year prison sentence after pleading guilty to criminal charges related to the collapse.

Bitdeer Technologies has confirmed that it has sold all of its Bitcoin holdings, emphasizing that the decision reflects liquidity management rather than a loss of confidence in the asset. The Singapore based mining company said converting newly mined Bitcoin into cash allows it to stay financially flexible as it evaluates potential acquisitions of powered land, which require capital to be ready before agreements are finalized.

Despite holding no Bitcoin on its balance sheet, Bitdeer continues to expand operations. The company has increased its self mining capacity to more than 63 EH per second and significantly boosted year over year production. It stated that selling its output should not be viewed as a negative signal for the broader market, adding that its hash rate and mining activity will continue to grow for the benefit of shareholders.

This approach differs from the treasury strategy adopted by companies such as Strategy, which treat Bitcoin as a long term reserve asset. Instead, Bitdeer appears focused on redeploying capital into expansion initiatives, including a push into artificial intelligence and high performance computing infrastructure. Transforming mining facilities in the United States and Europe into AI ready data centers and deploying large scale GPU systems requires substantial upfront investment, which helps explain the decision to liquidate its Bitcoin reserves.

While other public miners including Riot Platforms, Bitfarms, and Core Scientific have sold portions of their holdings or diversified into AI to stabilize revenues, Bitdeer’s complete exit from holding Bitcoin sets it apart. Many competitors still maintain significant treasuries, such as MARA Holdings with more than 53,000 BTC and Riot Platforms with close to 18,000 BTC.

After enduring price crashes, exchange failures, hacks, and high profile collapses such as FTX, a long time Bitcoin supporter now believes the greatest danger to the network lies ahead. Charles Edwards, founder of Capriole Investments, says the growing capabilities of quantum computing represent Bitcoin’s first truly existential risk.

Edwards explained that previous crises never shook his long term confidence. However, he argues that advances in quantum technology could eventually overpower Bitcoin’s current cryptographic protections if the protocol does not adapt. He described the situation as preparing for past battles instead of future ones and warned that without meaningful upgrades, Bitcoin may struggle to defend itself. What concerns him most is not only the scale of the threat but what he sees as a lack of urgency from developers and the broader community.

CryptoQuant founder Ki Young Ju has also raised alarms, suggesting that protecting Bitcoin may require difficult measures. One possible approach could involve freezing older wallet addresses as part of a transition to quantum resistant cryptography. He acknowledged that reaching consensus on such changes would be challenging, given the community’s history of disagreement over protocol upgrades. Ju added that assets considered secure today may not remain protected if quantum computing advances rapidly.

Others in the industry take a more measured view. Jameson Lopp, co founder and chief security officer of Casa, has argued that quantum computers are still far from being capable of breaking Bitcoin’s encryption. While he supports ongoing research and preparation, he believes fears of an immediate threat are overstated and notes that transitioning to quantum resistant systems would take significant time.

Grayscale has similarly stated that quantum computing is unlikely to meaningfully impact crypto markets in the near term, even while acknowledging potential long term risks. Strategy co founder Michael Saylor has also downplayed the urgency, saying many cybersecurity experts estimate that a credible quantum threat remains at least a decade away.

Bitcoin came under renewed pressure on Tuesday, briefly falling to $62,700 after a 5 percent decline as macroeconomic uncertainty continued to weigh on sentiment. On chain indicators suggest the asset remains in a defensive phase, with capital flowing out of the network and little evidence of fresh accumulation.

Realized Cap, which tracks the total value of coins based on the price they last moved, has declined for a second straight month. Analyst Axel Adler Junior reports that the 30 day Realized Cap Net Position Change is currently at negative 2.26 percent and has remained below zero for weeks. This indicates that more capital is leaving the network than entering it. Realized Cap peaked at about $1.127 trillion in late November 2025 and has since fallen to roughly $1.094 trillion, reflecting a contraction of around $33 billion. As long as this metric stays negative, the market remains in net outflow mode.

HODL Waves data also points to a notable shift in coin age distribution. Coins that last moved between three and six months ago now account for roughly 26 percent of total supply, up from 19 percent earlier this month. Many of these coins were purchased near the previous market peak and have not moved since. Holdings in the six to twelve month range have grown to just over 20 percent, while coins moved within the past month represent less than 10 percent of supply.

According to Adler Junior, this suggests limited participation from new buyers. Much of the circulating supply was acquired at higher prices and is now held at a loss, reducing the incentive to sell and effectively locking up liquidity. The increase in older coin cohorts appears to reflect forced holding due to unfavorable conditions rather than deliberate long term accumulation. A meaningful structural shift would require renewed short term activity and sustained capital inflows.

Adding to concerns, analyst Ali Martinez notes that a potential death cross may soon form on Bitcoin’s three day chart. In prior cycles, this pattern appeared shortly before the final major decline of bear markets. With Bitcoin still about 50 percent below its October 2025 high, a similar setup could signal further downside risk.

The cryptocurrency market has erased more than $150 billion in value since Sunday, as Bitcoin slipped under $63,000 and dragged most altcoins lower.

Bitcoin attempted to recover above $70,000 at the start of last week but was rejected, then traded in a narrow range between $67,000 and $68,500 for several days. After briefly approaching $69,000 over the weekend, the asset came under heavy pressure once traditional futures markets reopened. Within just over an hour, Bitcoin dropped sharply from $67,700 to $64,400, triggering significant liquidations.

Although it staged a short rebound toward $66,500, sellers regained control and pushed the price below $63,000 for the first time since the early February crash that sent it to $60,000. Bitcoin is now hovering just above that level, with its market capitalization falling to around $1.26 trillion. Its dominance among altcoins has also weakened, slipping below 56 percent.

Altcoins have followed Bitcoin’s decline. Ethereum has fallen about 5 percent to trade near $1,800. XRP is down roughly 4.5 percent and is struggling to hold above $1.30. BNB, Solana, and TRON have recorded similar losses, while Dogecoin, Cardano, and HYPE have dropped more than 5 percent.

Bitcoin Cash has posted the steepest decline among larger capitalization assets, losing over 11 percent and falling below $485. Zcash, RAIN, Uniswap, SUI, WLFI, and several others are also experiencing notable losses.

One exception is PIPPIN, which continues to outperform the broader market. The token has climbed to a new all time high of $0.80 following another double digit daily gain.

Despite isolated strength in a few tokens, the overall crypto market capitalization now stands at approximately $2.26 trillion, reflecting a sharp contraction in total value.

On chain data from Glassnode indicates that Bitcoin has entered a phase historically associated with extended bear markets. The Realized Profit to Loss Ratio has shifted decisively toward loss driven selling, signaling that more investors are closing positions at a loss rather than locking in gains. This type of environment was last observed during the severe downturns of 2018 and 2022.

Glassnode reports that the 90 day simple moving average of the Realized Profit to Loss Ratio has fallen below 1. This metric compares the total value of Bitcoin sold at a profit to the value sold at a loss. A reading below 1 confirms that losses now outweigh profits across the network. Analysts at the firm describe this as a full transition into a loss realization regime, a phase that in past cycles has often lasted six months or longer before liquidity conditions improved.

The downturn in this indicator began earlier in the year when the ratio stood near 1.5 in early February and around 1.32 in late January. Additional data from CryptoQuant suggests that whale related metrics, including Unspent Profitability Ratios across different holder groups, have fallen to levels similar to those seen in mid 2022, a period that preceded further downside before the eventual market bottom.

This renewed pressure follows a sharp slowdown in profit taking late last year. In the fourth quarter of 2025, seven day average realized profits exceeded one billion dollars before falling to under 200 million dollars by December. That temporary cooling allowed Bitcoin to stabilize and briefly recover above 96,000 dollars in early January.

The recovery did not last. Bitcoin is currently trading near 63,200 dollars, down more than 3 percent in the past 24 hours and nearly 29 percent over the last month. The asset also remains close to 50 percent below its October 2025 all time high.

Analysts attribute much of the weakness to broader macroeconomic pressures, including recent tariff measures announced by United States President Donald Trump, which have weighed on risk assets globally.

While the on chain signals appear bearish, some market participants believe the broader long term cycle remains intact. Bitwise CIO Matt Hougan recently described the current volatility as part of Bitcoin’s developmental phase. At the same time, technical analyst Ali Martinez has warned that a potential death cross on the three day chart could signal further downside, similar to patterns that preceded major declines in previous cycles.

Strategy’s aggressive Bitcoin accumulation strategy is drawing renewed criticism as market volatility intensifies. Analyst Doctor Profit recently compared Michael Saylor’s approach to the excesses of the 2000 dot com bubble, arguing that continuously buying without a disciplined exit plan risks repeating past mistakes, especially in today’s AI driven market environment.

In a post on X, Doctor Profit said he had repeatedly warned Saylor that funding ongoing Bitcoin purchases through share issuance was dangerous. He claimed those concerns were dismissed. Since then, Strategy’s stock has declined about 75 percent from its highs, while Bitcoin has fallen roughly 50 percent from its peak. With an average entry price near $76,000 and Bitcoin trading around $63,000, the company’s position is currently below cost.

The analyst also criticized the firm for accumulating Bitcoin since 2020 without taking substantial profits or implementing meaningful strategic selling. As a result, shareholders have faced significant volatility while the company remains heavily exposed to price swings.

Doctor Profit pointed to Saylor’s experience during the dot com collapse as a cautionary tale, suggesting that the current enthusiasm surrounding artificial intelligence could represent a similar late cycle dynamic. Instead of reducing risk as warning signs appeared, he argued that Strategy increased its exposure.

The criticism comes as the company continues adding to its holdings. Strategy recently purchased 592 BTC for just under 40 million dollars at an average price of $67,286, bringing total holdings to 717,722 BTC. The acquisition was funded through the sale of nearly 298,000 Class A shares under its at the market program. The firm still has significant capacity to raise additional capital, with $37.4 billion in securities available for future issuance.

Concerns about Bitcoin focused treasury strategies have also been echoed by investors such as Michael Burry, who warned that further declines in Bitcoin could create broader stress across crypto markets and leave heavily exposed firms under pressure. Former BlockFi chief executive Zac Prince has similarly questioned the sustainability of these models, arguing that they rely heavily on financial engineering rather than core operating performance.