ADEEL TRADES

$ETH $BTC
RNS Number : 1408S Falconedge PLC 09 February 2026  
9 February 2026
Falconedge PLC
("Falconedge" or the "Company")
January Results - Bitcoin Yield
Falconedge PLC (AQSE: EDGE) is pleased to report the successful results from the second month of its Bitcoin Yield Strategy. This accumulated yield forms part of the Company's mission to build a transparent, compliant and income-generating framework for its corporate holdings.
January Balance Sheet Yield Highlights
The Company is pleased to report the following verified balance sheet allocation results for the January period:
January Bitcoin Yield: 1.88%
January Incremental Bitcoin Growth: 0.368524 BTC
Total Bitcoin Holdings: 19.878377 BTC
Fiat January Denominated Return: £21,161 (based on the closing BTC price as of 31 January 2026)
Results since Inception of Yield Generation Strategy (1 December 2025)
Accumulated Yield: 3.133%
Incremental Bitcoin Growth:  0.603874 BTC.
Fiat Denominated Return: £34,669 (based on the closing BTC price as of 31 January 2026)
Roy Kashi, CEO of Falconedge, commented:
"We are pleased to share the January allocation results with our shareholders. Despite challenging market sentiment, the Company has continued to deliver growth on its balance sheet in both Bitcoin and fiat-denominated terms.
As previously signaled, our priority remains the delivery of tangible, shareholder-accretive returns alongside our core business revenues, executed in a transparent and disciplined manner. These results from our first month of yield allocation, independently verified by NAV Consulting, underscore the strength of our treasury strategy and our ongoing commitment to prudent balance sheet enhancement."
Contacts
Falconedge
Harbor Access Investor Relations (US)                     
Roy Kashi, CEO
+44 (020) 382-70278
Roy@falconedge.co.uk
Jonathan Paterson, Investor Relations
+1 475 477 9401
Jonathan.Paterson@Harbor-access.com
Aquis Corporate Adviser and Joint Broker
AlbR Capital Limited
+44 207 469 0930
Corporate Brokers
Investor Relations (UK)
Fortified Securities
Tel +44 (0) 203 827 0278
Guy Wheatley
IR@falconedge.co.uk
guy.wheatley@fortifiedsecurities.com
+44 7493 989014
SI Capital
Sam Lomanto
sam.lomanto@sicapital.co.uk
+44 (0) 1483 413 500
The Directors of the Company accept responsibility for the contents of this announcement.
About Falconedge
Falconedge (AQSE: EDGE) provides turnkey hedge fund advisory services for asset and fund managers delivering expertise across fundraising, investor relations, DeFi and treasury strategy, and operational growth. Founded in 2025, Falconedge is positioned at the intersection of traditional finance and digital innovation. By integrating Bitcoin-native solutions with institutional advisory experience, the Company helps asset managers scale efficiently, attract capital, and deliver sustainable performance while creating asymmetric exposure opportunities for shareholders. By blending consulting expertise with Bitcoin as a strategic reserve asset, Falconedge seeks to scale client operations while creating asymmetric exposure opportunities for its shareholders. Please visit www.falconedge.co.uk, and follow the Company on LinkedIn and X.
Risk relating to Digital Assets
The Company's Digital Assets treasury management strategy exposes the Company to various risks associated with Digital Assets. Digital Assets such as Bitcoin are volatile and fluctuations in the price of such Digital Assets are likely to influence the Company's financial results and the market price of the Ordinary Shares. In addition to this, Bitcoin and other Digital Assets are subject to significant legal, commercial, regulatory and technical uncertainty which increases the inherent risk of material adverse effects on the Company's strategy of storing capital effectively and preserving value.
The Company intends to hold treasury reserves and surplus cash in Bitcoin and potentially other Digital Assets. Bitcoin is a type of cryptocurrency or crypto asset. Whilst the Board of Directors of the Company considers holding Bitcoin to be in the best interests of the Company, the Board remains aware that the financial regulator in the UK, the FCA, considers investment in Bitcoin to be high risk. It is important to note that an investment in the Company is not an investment in Bitcoin, either directly or by proxy. However, the Directors consider Bitcoin to be an appropriate store of value and growth for the Company's reserves and, accordingly, the Company is materially exposed to Bitcoin. Such an approach is innovative, and the Directors wish to be clear and transparent with prospective and actual investors in the Company on the Company's position in this regard.
The Company is neither authorised nor regulated by the FCA and cryptocurrencies (such as Bitcoin) are unregulated in the UK. As with most other investments, the value of Bitcoin can go down as well as up, and therefore the value of the Company's Bitcoin holdings can fluctuate. The Company may not be able to realise its Bitcoin exposure for the same as it paid in the first place or even for the value the Company ascribes to its Bitcoin positions due to these market movements. And because Bitcoin is unregulated, the Company is not protected by the UK's Financial Ombudsman Service or the Financial Services Compensation Scheme.
             Operating company with Bitcoin treasury model
Although the Company is a professional fund advisory business, and the management of the Company believes it offers a differentiated value proposition that combines its core advisory related operations with Bitcoin treasury exposure, investors may nevertheless erroneously view an investment in the Company primarily as a Bitcoin investment vehicle. They may choose to invest in alternative Bitcoin products for various reasons, including: (i) preference for "pure play" Bitcoin exposure without operational business risks; (ii) different tax treatment or regulatory structure; (iii) enhanced liquidity or trading characteristics; (iv) lower fees or expense ratios; or (v) different levels of transparency regarding Bitcoin holdings and net asset value calculations.
Unlike Bitcoin investment vehicles, the Company: (i) does not seek to track the value of Bitcoin or provide daily transparency regarding its Bitcoin holdings; (ii) is subject to the operational risks and capital allocation decisions of a diversified consultancy business; (iii) may use Bitcoin holdings for strategic purposes beyond pure investment returns; (iv) is subject to different regulatory requirements as an English domiciled consultancy company rather than an investment vehicle; and (v) may face conflicts between optimising Bitcoin returns and pursuing the Company's core business objectives. If the Company's combined business model is viewed favourably relative to pure Bitcoin exposure, the securities of the Company may trade at a premium. However, the market's sentiment relating to Bitcoin from time to time, the Bitcoin's valuation from time to time as well as to the Company's Bitcoin treasury strategy may increase the volatility of the Company's share price and could result in the Company's securities underperforming.
The Company's ability to expand its Bitcoin holdings relies heavily on raising equity and/or debt financing. If funds are unavailable or needed for operating costs or any interest costs instead, the Company may be unable to effectively grow its Bitcoin treasury. If the Company's cash flow were to become insufficient to pay any debt obligations, then this could lead to default and forced sale of the Company's assets.
The Company anticipates that a significant portion of its assets will be concentrated in its Bitcoin holdings at any given moment in time. The concentration of assets in Bitcoin limits the Company's ability to mitigate risk that could otherwise be achieved by holding a more diversified portfolio of treasury assets.
In addition, the Company has sought legal and regulatory advice from a leading English law firm as to its status under English financial regulation. As at the date of this document, the advice received is that the Bitcoin related activities of the Company should not require the Company to need to be authorised by, regulated by or otherwise registered with the FCA in the UK. Equally, the Company should not be considered an "alternative investment fund" for such regulatory purposes. In seeking such advice, the senior management of the Company has sought to act reasonably but understand that this is a largely untested area of a potentially complex and politically sensitive area of law and regulation in the UK. Accordingly, there can be no guarantee that the relevant regulatory authorities will agree with such conclusions. Any such development in this regard could adversely impact the Company.
            Security of the Company's data and Bitcoin
The Company is subject to a number of laws relating to privacy and data protection, including the UK's Data Protection Act 1988 and the Privacy and Electronic Communications (EC Directive) Regulations 2003 and the EU General Data Protection Regulation (GDPR). Such laws govern the Company's ability to collect, use and transfer personal information relating to its customers as well as its employees Despite controls to protect the confidentiality and integrity of customer information, the Company may breach restrictions or may be subject to attack from computer programmes that attempt to penetrate its network security and misappropriate confidential information.
Any perceived or actual failure to protect confidential data could harm the Company's reputation and credibility, reduce its sales, reduce its ability to attract and retain customers or result in litigation or other actions being brought against it or the imposition of fines.
Bitcoin is controllable only by the possessor of both the unique public key and private key(s) relating to the local or online digital wallet in which the Bitcoin is held. While the Bitcoin blockchain ledger requires a public key relating to a digital wallet to be published when used in a transaction, private keys must be safeguarded and kept private in order to prevent a third party from accessing the Bitcoin held in such wallet. To the extent the private key(s) for a digital wallet are lost, destroyed, or otherwise compromised and no backup of the private key(s) is accessible, neither the Company nor its custodians will be able to access the Bitcoin held in the related digital wallet. The Company cannot guarantee that its digital wallets, nor the digital wallets of its custodians held on its behalf, will not be compromised as a result of a cyberattack. The Bitcoin and blockchain ledger, as well as other digital assets and blockchain technologies, have been, and may in the future be, subject to security breaches, cyberattacks, or other malicious activities.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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#GoldSilverRally #WhaleDeRiskETH #BinanceBitcoinSAFUFund

$ETH The crypto market bears have strengthened since the start of the month as the top tokens, Bitcoin and Ethereum, have attracted significant selling pressure. While BTC price is feared to drop below $60,000, ETH is showing mixed but increasingly cautionary signals. Now that the Ethereum price is about to test one of the crucial support levels at $2000, the question arises whether the distribution phase is about to begin.
Ethereum Transfer Activity Hits 1.17 Million
On-chain data shows Ethereum transfer count has surged to 1.17 million, a level historically associated with late-cycle market behavior. Similar spikes were last seen near market tops in 2018 and 2021, periods that preceded sharp volatility and prolonged consolidations.

While high network activity is often interpreted as bullish, history shows that activity peaks without sustained price expansion can signal distribution. In such phases, large holders continue transacting, but price struggles to trend higher as supply gradually outweighs demand.
Notably, Ethereum’s price has failed to establish a strong upside continuation despite rising transfers, reinforcing the view that network usage is no longer translating into directional price strength.
ETH Price Drifts Toward a High-Liquidity Zone
At the same time, derivatives data highlights a dense liquidity cluster between $1,800 and $2,000, where a large concentration of leveraged positions sits. Liquidation heatmaps show this zone acting as a magnet for price, particularly during periods of weakening momentum.

As ETH moves closer to this range, downside liquidity becomes increasingly attractive from a market-structure perspective. In distribution environments, price often drifts toward areas with maximum liquidation potential, rather than breaking higher resistance levels. This setup suggests that short-term price action may remain reactive and volatility-driven, with sharp moves possible as leverage is flushed out.
What Traders Should Watch Next
Both charts combined indicate active participation with potential supply rotation with the probability of downside tests. The second-largest token now appears to be more vulnerable to liquidity-driven moves due to a lack of strong upside follow-through. These points hint towards a distribution phase where markets transition from momentum-driven to balance-seeking behaviour. 
Overall, the Ethereum ETHUSD price is not showing signs of panic or breakdown, but the data suggests the risk remains skewed to the downside in the near term.
 https://t.me/AdeelCryptoGold for join free signal please used must vpn for open this link
#WhenWillBTCRebound #WarshFedPolicyOutlook #WhaleDeRiskETH

$XRP
What to Know:
Vitalik Buterin warns that ‘copy-paste’ EVM chains are reaching a dead end, urging developers to build genuine technical innovations.The market is rotating focus toward projects solving existential threats like ‘harvest now, decrypt later’ rather than just transaction speed.BMIC utilizes post-quantum cryptography and ERC-4337 to eliminate public key exposure, aligning with the demand for ‘deep tech’ solutions.Smart money is hedging against future cryptographic obsolescence by targeting infrastructure that secures assets against quantum computing.
The Ethereum ecosystem is saturated.
Co-founder Vitalik Buterin isn’t mincing words about it anymore. In recent commentary on the trajectory of Layer 2 solutions and alt-L1s, he emphasized a critical pivot: the era of copy-paste EVM chains is dead.
For years, developers have been forking Geth (Go-Ethereum), tweaking a parameter or two, and launching ‘new’ networks that offer nothing but fragmented liquidity and identical user experiences. Buterin’s point? True scaling requires actual breakthroughs, specifically in privacy and security, not just cosmetic bridges.
Why does this matter? Because the market is currently awash in ‘zombie chains’, networks boasting high valuations despite having zero distinct utility.
When Ethereum’s co-founder signals that the infrastructure phase is shifting from quantity to quality, smart money tends to listen. The reaction has been subtle (for now), but telling: capital is rotating out of generic governance tokens and into plays that solve actual, forward-looking problems.
That skepticism toward clones has created a vacuum for projects addressing the next decade’s threats, not last cycle’s hype. While Vitalik pushes for differentiation, a darker narrative is emerging around ‘harvest now, decrypt later’ attacks, a threat vector standard EVM forks can’t touch.
This shift from speed to existential security has spotlighted BMIC, a project attempting to fill that deep-tech void.
Read more about $BMIC here.
Moving Beyond The EVM Copy-Paste Meta
Vitalik’s critique hits at the lack of ambition in dev circles. Simply offering lower fees isn’t a unique selling point anymore; it’s the baseline. BMIC ($BMIC) breaks the mold by ignoring the ‘faster transaction’ race entirely. Instead, it focuses on a far more pressing issue: the coming obsolescence of current cryptographic standards.
While generic L2s squabble over milliseconds, BMIC is building a Quantum-Secure Wallet stack designed to survive the inevitable arrival of quantum computing. The project uses post-quantum cryptography combined with ERC-4337 Smart Accounts to eliminate crypto’s biggest vulnerability: public key exposure. In standard wallets, once a public key is revealed during a transaction, it becomes a sitting duck for future quantum decryption.
BMIC tackles this with a zero-exposure protocol and AI-enhanced threat detection.
This is exactly the ‘Stage 2’ innovation Buterin often references, technology that fundamentally upgrades the stack rather than just copying it. By integrating a ‘Quantum Meta-Cloud’ for secure storage and offering burn-to-compute utility, the project moves beyond simple speculation.
It provides an infrastructure hedge against the very technology that could render legacy blockchains obsolete.
Explore the BMIC ecosystem.
BMIC Presale Draws Attention With Quantum-First Utility
The market’s hunger for genuine innovation is clear. The BMIC presale has already raised over $433K, suggesting investors are increasingly wary of legacy tech vulnerabilities. With the token currently priced at $0.049474, the entry point reflects an early valuation for a protocol attempting to secure the Ethereum ecosystem’s digital future.

What distinguishes this raise from the typical memecoin frenzy? The utility proposition. This capital isn’t just funding a liquidity pool; it’s building a full Quantum-Secure Finance Stack. The tokenomics back this up via staking mechanisms that use quantum-secure validation with no exposed keys, a direct answer to the slashing risks prevalent in standard PoS systems.
Plus, the ‘Burn-to-Compute’ model introduces a deflationary lever tied to actual network demand, not artificial scarcity. The correlation between Vitalik’s call for new tech and the rise of niche security protocols suggests the market is pricing in technical risk more seriously than in previous cycles.
As developers heed Buterin’s advice and move past simple forks, protocols offering defensive moats against quantum threats are positioning themselves as essential infrastructure. The presale data indicates that while the masses chase green candles, forward-thinking participants are securing their downside against a potential cryptographic winter.
Buy your $BMIC here.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Cryptocurrency investments, particularly in presale stages, carry high risks including volatility and potential loss of principal. Always verify security protocols independently.
#WhenWillBTCRebound #ADPDataDisappoints #JPMorganSaysBTCOverGold

Bitcoin BTCUSD price dropped by more than 22.5% in the past week to $69,000 on Thursday, wiping out 15 months of gains entirely. However, the downtrend may not be over, according to veteran trader Peter Brandt.
Key takeaways:
Brandt says “campaign selling” is pressuring BTC, with miners and ETFs also cutting exposure.A potential bottom zone is near $54,600–$55,000.

Bitcoin may drop another 10% as miners, ETFs cut BTC exposure
BTC’s decline left behind a sequence of daily lower highs and lower lows. Simply put, the lack of even modest rebounds suggests few traders are stepping in to buy the dip, at least for now.
This structure, according to Brandt, had “fingerprints of campaign selling,” a deliberate, sustained distribution by large institutions, not retail liquidation.

Onchain data supports Brandt’s outlook. For instance, as of Thursday, the BTC miner net position change metric was showing a clear shift into net distribution throughout January, with miners consistently sending more BTC to the market.

US spot Bitcoin ETFs also reduced their exposure, with net BTC balances falling to 1.27 million BTC as of Wednesday from 1.29 million at the beginning of the year.
The Coinbase premium, a barometer linked to institutional interest, also fell to yearly lows.

This distribution boosted Bitcoin’s chances of reaching its bear flag target of around $63,800, down 10% from current levels, as shown below, based on Brandt’s technical setup.

Bitcoin may bottom below $55,000
Bitcoin risks a deeper drop toward $54,600 amid continued institutional selling, according to onchain analyst GugaOnChain.
The downside target is aligned with the lower zone (red) highlighted in the BTC DCA Signal Cycle metric below. This zone reflects Bitcoin’s one-week to one-month realized price and helps identify periods when BTC is structurally undervalued.

In 2022, the signal turned bullish as BTC fell below the same red zone near $20,000, forming a bottom around the level, before rallying to over $30,000 a year later.
GugaOnChain said:
“The current price convergence toward the band signaling the start of the accumulation phase, situated around $54.6K, suggests we are in the critical transition between Capitulation and Accumulation.”
Meanwhile, another analysis highlights a potential accumulation window emerging after July 2026, based on historical lag effects between widening credit spreads and Bitcoin market bottoms.
#WhenWillBTCRebound #WarshFedPolicyOutlook #ADPDataDisappoints

$BTC Key points:
10x Research pointed to the unwinding of earlier cycle investments as a key driver.Peter Brandt described the move as campaign selling marked by steadily lower highs.Simply put, large-scale withdrawals might be tightening liquidity during a volatile period.
Bitcoin’s (BTC) price sank further on Wednesday night, hovering near $70,000 as traders speculated on why Bitcoin is dropping despite improving long-term narratives.
The apex cryptocurrency has fallen nearly 20% this year so far, and is trading 40% below its record high of over $126,000 seen in October. According to experts like Bitwise CIO Matt Hougan and Galaxy Digital CEO Mike Novogratz, this may be the tail-end of the crypto winter. 
Why Is Bitcoin’s Price Dropping?
Analysts at 10x Research stated that the current drawdown in Bitcoin's price is because of a broader reassessment of capital deployed earlier in the cycle, rather than a collapse in conviction around Bitcoin’s long-term role.
“Each cycle introduces new narratives and promoters, often successfully attracting billions and, in this cycle, tens of billions of dollars in capital for single investments,” the firm said in a note. “Ironically, it is the subsequent reassessment of these allocations by investors, and the unwinding of the capital raised, that is now exerting downward pressure on Bitcoin.”
Veteran trader Peter Brandt echoed that view, describing the selloff as methodical rather than disorderly. In a post on X, Brandt said Bitcoin’s eight-day pattern of lower highs and lower lows carried “all the fingerprints of campaign selling, not retail liquidation,” adding that such phases can persist without a clear signal for when they will end.
Withdrawals Add Another Layer of Pressure
Binance co-founder Yi He said members of the crypto community have initiated what she described as a “withdrawal campaign” on the world’s largest crypto exchange, encouraging users to move assets off trading platforms.
“Although the number of assets in Binance addresses has increased after the campaign was launched, I believe that regularly initiating withdrawals from all trading platforms is a very effective stress test,” Yi He wrote. 
Crypto Sentiment Sours Despite Long-Term Optimism
Broader market sentiment has deteriorated alongside the price action. “Feels like everyone just gave up on crypto,” crypto market water Lark Davis. “Metals and stocks were largely the better investments this cycle unless you got some big memecoin win. Bad times.”
On Stocktwits, retail sentiment around BTC dropped lower within ‘extremely bearish’ territory even as chatter remained at ‘extremely high’ levels. 

One user predicted that Bitcoin’s price may fall as low as $69,000 on Wednesday night.
https://www.stocktwits.com/Vlad_Put/message/644061244
Another anticipated a flash crash to $60,000.
https://www.stocktwits.com/Lazer_Ray/message/644060428
The latest move downward in Bitcoin’s price comes after the market anticipated the apex cryptocurrency would rise following the marked improvement in ISM Manufacturing PMI on Monday. The reading crossed 50, usually a necessary condition for the crypto bull run.

#ADPDataDisappoints #WhaleDeRiskETH #EthereumLayer2Rethink?

$ETH Crypto project Payy, which operates a privacy-focused wallet alongside a crypto banking card, has just launched a privacy-enabled Ethereum layer 2.
In an announcement via X on Wednesday, Payy said users can now integrate the network into their MetaMask accounts, and that all ERC-20 transfers made on it are automatically made private with “no smart contract changes required.” 
Payy said the two core types of users on its network would be institutions and fintech firms looking to bring “flows onchain without fear of analysis and exploitation,” and crypto natives looking to use privacy tools without “juggling multiple wallets.”
“Some of the largest stablecoin players are day 1 launch partners on Payy Network. We’ll be announcing them in the coming weeks,” Payy said. 
The network is compatible with any Ethereum Virtual Machine (EVM) wallet, and the project’s website indicates that the layer-2 is primarily geared toward “making stablecoins private,” despite also supporting all ERC-20 tokens. 

Following the announcement, Payy CEO Sid Gandhi also shared more details on X, noting that Payy is working to help large traditional finance institutions feel more comfortable moving capital onchain. 
“Nearly every bank, fintech, and enterprise is telling us the same thing: They cannot move real capital flows onchain if their financial data is exposed to the world,” he said.
In terms of Payy’s privacy, the layer 2 hosts private ERC-20 pools that users' transactions are automatically routed through when using wallets like MetaMask. This enables users to move funds from their normal wallets without the outside world seeing where the funds are going. 
Related: What Dubai’s ban on Monero and Zcash signals for regulated crypto
When interacting with decentralized finance apps and smart contracts, funds are withdrawn from the private pools to a new address.
Before this, Payy primarily provided its own privacy-focused wallet alongside a crypto banking card, which launched in mid-2025. The project claims to have racked up 100,000 users of its wallet services. 
There are already other L2s and protocols offering privacy services on Ethereum, such as Aztec Network and Railgun, which use similar methods to conceal transfer activity. 
Meanwhile, there are a host of privacy-focused tokens such as Zcash (ZEC) and Monero (XMR) that exploded in popularity in 2025 amid a crypto privacy sector boom last year. 
According to Payy, it aims to provide a point of difference by reducing the hurdles to maintaining privacy, such as managing multiple wallets or switching between multiple protocols. 
However, Payy is not the only one working on this. Cointelegraph reported in October that Ethereum developers were working on upgrading wallet privacy as part of the Kohaku roadmap. 
The goal of Kohaku is to reduce reliance on centralized parties that track transactions, while also including features such as private sending and receiving.
#WhaleDeRiskETH #ADPDataDisappoints #EthereumLayer2Rethink?

$BTC
Crypto markets are yet to steady after the recent sharp selloff, but analysts say the more notable development has been fragmentation in liquidity and performance across venues and assets rather than a decisive directional reset.
Bitcoin is down over 17% in the last week alone, and trading near the same levels as on the night of President Donald Trump’s election victory, according to The Block’s price page.
Most of the crypto market has mimicked BTC’s slump, with majors like Ethereum (ETH), Solana (SOL) and BNB all down double-digit percentages over the past week.
Liquidity islands
Analysts at the quantitative yield protocol Axis have flagged the emergence of "liquidity islands," referring to pockets where capital is unevenly distributed across exchanges and protocols as risk appetite thins.
"Funding rates are flipping negative on some venues while spiking on others due to liquidity crunches," said Ashwin Khosa, chief strategy officer at Axis, adding that capital has become effectively trapped on specific platforms amid fear and broken cross-venue plumbing.
Onchain data has also pointed to a split in positioning.
Nicolai Sondergaard, a research analyst at Nansen, said derivatives markets have shown a net long bias on platforms such as Hyperliquid, while other participants have rotated toward stablecoins or tokenized gold exposure such as PAXG. Sondergaard noted that exchange outflows can indicate selective accumulation and a reduced desire to sell, even as overall conviction remains limited.
Capital dispersion
Dispersion also appeared in product flows and asset performance.
Bitfinex analysts said that while Bitcoin and Ethereum exchange-traded products faced heavy redemptions late last month, Solana- and XRP-linked products attracted inflows, pointing to tactical rotation.
Hyperliquid’s HYPE token even rose as much as 44% as markets sold off, standing out as a rare gainer amid broader weakness, according to Bitfinex data.
Moreover, cross-asset signals have reinforced the dislocation theme.
Thomas Perfumo, global economist at Kraken, said gold has briefly exhibited higher realized volatility than bitcoin. He argued that this setup is more consistent with a short-term blow-off top than a durable shift in safe-haven narratives.
While liquidity islands form and surprise outperformers spring up, some experts suggest a clearer move for Bitcoin and the broader crypto market is on the horizon.
Tony Severino, a market analyst at YouHodler, pointed to historically tight Bollinger Bands on Bitcoin’s monthly chart, a signal of extreme volatility compression that has often preceded decisive moves once volatility expands.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
ADPWatch #USIranStandoff #TrumpEndsShutdown

$BTC
By Nate Wolf
You don't normally see a Wall Street firm slash its price target on a stock by 60% and keep a Buy rating intact. Then again, Strategy isn't a normal stock.
Canaccord Genuity reiterated a Buy rating on Strategy — the world's largest corporate holder of Bitcoin — in a research note Wednesday, but dropped its target to $185 from $474.
Strategy shares are in the doldrums, so the price reset was probably overdue. The stock was down 3.9% to $128.05 on Wednesday, putting it on track for its lowest close since Sept. 11, 2024, according to Dow Jones Market Data.
Bitcoin has plummeted to around $75,000 since reaching a record high above $126,000 in October. The price hit its lowest point in over a year on Tuesday. Strategy stock has fallen in kind, though its slump began even earlier. Shares are down 72% since last July.
So, why the Buy rating? That's all about Bitcoin, too.
Strategy and its executive chairman Michael Saylor pioneered the digital-asset treasury playbook, issuing a combination of equity and debt to buy up Bitcoin. Today the company owns 713,502 coins, worth about $53.6 billion.
Investors paid a premium sometimes worth more than twice the Bitcoin on Strategy's balance sheet for levered exposure to the token. But that multiple — known as the market to net asset value, or mNAV — is now around 1.06. And with Bitcoin dipping below Strategy's average purchase price of $76,052, some observers worry the company will have trouble meeting its debt and dividend obligations.
Cannacord is not among those skeptics: "MSTR shares remain a bit of lightning rod for media attention when BTC is weak. But the truth, in this analyst's opinion, is that the underlying business model here has been built thoughtfully to withstand even a harsh crypto winter," wrote the firm's Joseph Vani.
The company's holdings dwarf its $8 billion of convertible debt. And dividends on its preferred stock can be serviced by modest share sales, Vani argued.
Shareholders want Strategy stock to do more than just survive. To be worth buying at this point, it will need some help from Bitcoin itself. In Canaccord's view, the flagship cryptocurrency has been incorrectly treated as a risk asset rather than a store of value. As with most risk assets, weak momentum has spurred more selling, but that pullback could end soon.
"Bitcoin remains a compelling store of value, checking all key boxes (scarcity, verifiability, etc.)," Vani wrote. "Perhaps the modest silver lining here is that BTC as a risk asset may finally be close to being flushed, and we can get back to the long-term value proposition of being a compelling store of value."
Canaccord expects Bitcoin spot prices to rebound about 20% in 2026, though the timing on that prediction is difficult, Vani conceded. And don't expect Strategy to recapture its enormous mNAV premium any time soon. The firm thinks shares will get back to a relatively modest 1.25 multiple relative to the underlying Bitcoin assets.
Strategy will report fourth-quarter financial results on Thursday, though "what is more important than MSTR's quarterly print is the outlook for Bitcoin itself moving forward," Vani wrote.
Write to Nate Wolf at nate.wolf@barrons.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
#USIranStandoff #TrumpEndsShutdown #xAICryptoExpertRecruitment

$BTC Bitcoin may be entering a renewed bear market phase, according to as on-chain indicators, weakening institutional flows and tightening liquidity conditions point to broad structural downside risk.
In its latest Crypto Weekly Report, CryptoQuant said multiple on-chain metrics now confirm a bear market regime. The firm noted that Bitcoin peaked near $126,000 in early October, when its Bull Score Index stood at 80, signaling a strong bullish environment.
Bitcoin’s bear market is off to a weaker start than 2022.Since falling below the 365-day MA on Nov 12, 2025, is down 23% in 83 days, vs. just 6% over the same period in early 2022.Momentum is deteriorating faster this cycle. — CryptoQuant.com (@cryptoquant_com)
However, following the October 10 liquidation event, the index flipped bearish and has since fallen to zero, while BTC trades closer to $75,000. “This signals broad structural weakness,” CryptoQuant wrote.ETF Flows Turn From Tailwind to Headwind
CryptoQuant highlighted a material reversal in institutional demand, particularly through U.S. spot Bitcoin ETFs. At the same point last year, ETFs had purchased roughly 46,000 BTC, but in 2026 they have instead become net sellers, offloading around 10,600 BTC.
That shift represents a 56,000 BTC demand gap compared with 2025, contributing to persistent selling pressure across the market.U.S. Spot Demand Remains Subdued
Despite lower prices, CryptoQuant said U.S. investor participation remains weak. The Coinbase Premium — often used as a proxy for American spot demand — has stayed negative since mid-October.
Historically, sustained bull markets have coincided with a positive Coinbase Premium driven by strong U.S. buying. CryptoQuant noted that this pattern has not returned, suggesting retail and institutional dip-buying remains limited.Stablecoin Liquidity Shows First Contraction Since 2023
Liquidity conditions are also tightening, according to the report. CryptoQuant pointed to USDT’s 60-day market cap growth turning negative by $133 million, marking the first contraction since October 2023.
Stablecoin expansion peaked at $15.9 billion in late October 2025, and the reversal is consistent with liquidity drawdowns typically seen in bear markets.
The firm added that one-year apparent spot demand growth has collapsed 93%, falling from 1.1 million BTC to just 77,000 BTC, reinforcing the slowdown in new capital entering the market.Technical Breakdown Raises Downside Risk
CryptoQuant also warned that Bitcoin has broken below its 365-day moving average for the first time since March 2022. BTC has already declined 23% in the 83 days since that breakdown — a sharper move than the early stages of the 2022 bear market.
With key on-chain support levels now lost, CryptoQuant suggests Bitcoin could face further downside toward the $70,000–$60,000 range unless a new catalyst restores demand and liquidity.

ADPWatch #TrumpEndsShutdown #USIranStandoff

$SOL In 2025, the privacy narrative was dominated primarily by Zcash ($ZEC) and Monero (XMR).
Traders who held either of these coins during the 2023-2024 privacy bear market realized up to 10x returns by late 2025.
Although the layer-1 privacy market has begun to pull back, with both ZEC and XMR trading well off their all-time highs, the Solana ecosystem is seemingly shifting its focus toward privacy. 
The once-central concept of privacy articulated in Satoshi’s now-famous Bitcoin whitepaper was, for a long time, overshadowed in the Solana community by the memecoin “trenches”, especially last year during pump.fun streamer mania, but it now appears to be in the process of taking centre stage.
The reign of the memecoin narrative may finally have found a competitor on Solana in the form of privacy projects that aim to make operating on Solana truly anonymous.
Privacy on Solana: not as exciting as memes but arguably more useful
Privacy doesn’t evoke the same level of excitement or hype as a picture of a dog or even a far-related “project”.
But, as the memecoin market has become exhausted by rug pulls and short-lived dreams within the trenches, the community appears to be shifting its focus towards utility.
Interest in privacy in the broader crypto market has come on the back of an improving regulatory environment, which allowed legacy privacy projects such as Zcash and Monero to recover following years of woeful price action.
While these legacy projects rallied by record amounts in 2025, it can be argued that they aren’t offering anything new.
Crucially, they still don’t offer a solution for providing privacy on leading blockchain networks, of which Solana is undoubtedly one of the most valuable in terms of user activity, fees, dApp development, and DeFi.
Several teams have already made their mark in the Solana privacy market, and there’s plenty of evidence to suggest that the tokens affiliated with these solutions could completely overshadow the rest of the market, including memes, in 2026.

The rise and fall of the $FARTCOIN Solana memecoin. Source: CoinMarketCap
The leading privacy protocols shaping the Solana privacy boom 
Although it’s still early days for the Solana privacy market, several teams have already started developing and shipping privacy solutions.
First-mover advantage could well position some of them to become the leading beneficiaries from capital rotating out of the legacy privacy coins like ZEC and XMR, which have a combined market capitalization of well over $10 billion.
GhostWareOS ($GHOST)
GhostWareOS ($GHOST) launched in late 2025, proposing a comprehensive suite of Solana-focused privacy solutions ranging from payments to token swaps.
The project’s official documentation states that it aims to become a multi-tool solution for anyone operating on Solana, whether sending a payment or interacting with a smart contract.
The first tool shipped by GhostWareOS was GhostPay. GhostPay enables private payments on Solana by reducing transaction traceability, allowing users to transfer tokens without exposing full wallet histories or transactional metadata in the way standard transfers do.
Shortly after the launch of GhostPay, the team announced the imminent release of GhostSwap.
GhostSwap is designed to support private, unlinkable swaps, extending privacy beyond payments and into on-chain trading activity.
The $GHOST token has also become an example of capital rotation from memecoins into a privacy-focused utility.
Lookonchain data showed traders rotating profits from $PENGUIN into $GHOST, triggering a 500% rally.

Lookonchain posted on X showing a $PENGUIN trader rotating profits into $GHOST. Source: X
Following the 500% surge, the team confirmed an official partnership with Moonshot, one of the leading Solana-focused payments solutions used by an estimated 20 million users worldwide to swap fiat currencies for Solana tokens.
The Moonshot partnership, meme-rotation, and delivery of privacy tools have allowed $GHOST to demonstrate strong resilience during broader market weakness.
Even as SOL declined by around 20% over the past month, $GHOST delivered gains exceeding 200%.

$SOl and $GHOST charts. Source: CoinMarketCap
Umbra ($UMBRA)
Umbra ($UMBRA) is a privacy wallet designed for Solana. The official website describes the wallet as follows:
“Umbra is a Solana-native privacy wallet designed for people who refuse to leave a trail. A private execution environment running entirely inside the browser, a space where identities are fragmented, requests dissolve into noise, and transactions become untraceable before they are ever broadcast.”
Arguably, the project aims to take privacy further than standard privacy ventures by looking well beyond obfuscating public addresses and instead focusing on deeper technical factors that determine whether a wallet can be traced.
Most wallets unintentionally expose users. Identity leaks occur through shared addresses, centralized RPC dependencies, and default metadata broadcasting, creating structural vulnerabilities at the architectural level rather than at the transaction layer.
Umbra operates on three core technical principles: a local validation layer that independently verifies Solana’s state, a privacy fabric using per-dApp identities and zero-knowledge processes, and distributed connectivity via P2P relays that remove centralized RPC chokepoints.
The wallet’s native token, $UMBRA, launched in November 2025. While it has not held up as well as $GHOST during the recent downturn, its market capitalisation remains meaningfully higher than it was at launch.
Privacy Cash
Privacy Cash is a decentralized protocol on Solana that offers private crypto transactions for $SOL, $USDT, $USDC, and a handful of other cryptocurrencies. The core objective of the application is to make transferring SOL simple, cheap, and truly private.
The platform offers a fairly simple interface where the user connects their compatible extension wallet, selects the crypto they want to send, and enters a recipient address.
According to the official Privacy Cash X account, the protocol has been used to transfer over $210 million with complete anonymity.
Official documentation states that Privacy Cash relies on zero-knowledge circuits alongside other privacy solutions, which have reportedly undergone 14 separate audits.
However, the application requires users to send funds to fresh wallets, meaning it cannot create anonymity between already-used and previously tracked wallet addresses.
Privacy Cash does not currently have a native token, although this could change in the future, as some long-term projects have been known to launch utility tokens once their technology is fully deployed and supported by a stable user base.
Is Solana set to be the new home for privacy?
The memecoin frenzy created so much noise on Solana in 2025 that there was little room for any other narrative to break through.
While traders and developers chased short-term returns driven by hype, the parallel rallies in Zcash and Monero reminded the market that privacy remains a core unresolved issue in crypto. 
The Solana ecosystem may now be undergoing its own pivot toward privacy, with projects such as GhostWareOS, Umbra, and Privacy Cash embedding privacy directly into the network.
If this trend continues, Solana’s next defining chapter may be driven less by speculation and more by privacy.
#MarketCorrection #TrumpProCrypto #VitalikSells

$GAL $ETH $BTC Welcome to the US Crypto News Morning Briefing—your essential rundown of the most important developments in crypto for the day ahead.
Grab a coffee and settle in—markets are moving in ways that leave even seasoned investors squinting at charts. Gold and silver are surging, crypto is wobbling, and Washington’s policy plays are stirring uncertainty. But according to Tom Lee, somewhere in the chaos, a turning point may be quietly forming.
Crypto News of the Day: Tom Lee Says White House Front-Loading Midterm Wins Is Wrecking Markets
Fundstrat Global Advisors’ Tom Lee is sounding a cautious yet optimistic note for crypto investors, arguing that recent turbulence in Bitcoin and Ethereum may be temporary.
Appearing on CNBC’s Squawk Box, Lee attributed the early-year surge in gold and silver prices to Washington, D.C.’s policy maneuvers.
He says the White House’s plays have temporarily “hijacked” risk appetite, creating a “vortex” that drew capital away from crypto despite strong fundamentals.
Gold spiked to $4,954.99 per ounce, a 6.5% daily jump, while silver surged 13.66% to $87.53. This marks the largest single-day gains for both metals since the 2008 financial crisis.
Lee tied this frenzy to crypto’s ill-timed deleveraging in October 2025.
“The crypto industry doesn’t have any leverage right now,” he said. “Gold and silver’s performance sucked all risk appetite towards the precious metals trade.”
Lee also highlighted Washington politics as a central driver of market uncertainty. With midterms approaching, he criticized the White House for “deliberately picking more winners and losers early,” front-loading its agenda and keeping markets “hostage.”
Speculation around the next Federal Reserve chair adds further volatility, with Lee warning that markets will test the appointee’s resolve on policy and rates, echoing patterns seen with former chairs Janet Yellen and Jerome Powell.
While the consensus expects Republicans to lose the House, Lee noted that a GOP retention could deliver a “positive surprise.”
Signs Point to a Crypto Bottom Amid Gold and Silver Frenzy
Despite near-term headwinds, Lee sees signals that crypto may be bottoming. Fundstrat advisor Tom DeMark believes “time and price” alignment has been reached, with Bitcoin back above $78,000 and Ethereum nearing $2,300.

Lee added that Ethereum’s active addresses are “going parabolic,” as Wall Street increasingly integrates digital assets.
“All the pieces are in place for crypto to be bottoming right now,” he said, contrasting price weakness with network activity.
This view aligns with analysts’ notes on potential capital rotation, with some highlighting gold’s 11% rebound from recent lows, adding $3.07 trillion, and silver’s 20% surge, reclaiming $800 billion.
Analyst Bull Theory compares this setup to August 2020, when gold topped at $2,075, Bitcoin fell 20%, then rallied 559% over eight months as capital flowed back into risk assets.
With the ISM Manufacturing Index at 52.6%, the analyst suggested a similar rotation may be underway:
“Gold likely topping, and Bitcoin already having corrected, we could now see a rotation into risk-on assets,” they said.
However, not all commentary is bullish. Analyst Wimar.X warns that the metals’ surge signals a “broken system,” echoing pre-crash conditions in 2000, 2007, and 2019.
With the gold-to-silver ratio near 56, they argued that institutions are “exiting the casino,” potentially foreshadowing a 2026 collapse.

Lee, however, emphasized that the broader economic backdrop remains strong. Stocks were up 1% in January, historically correlating to 18% annual S&P gains in similar periods since 1950.
Even as AI and tech valuations may mean-revert, he sees precious metals taking a “breather” as healthy for markets, potentially clearing the way for crypto’s next move.
The question now is whether Washington-driven flows will continue to favor metals or if Bitcoin and Ethereum are ready for a rebound.
Chart of the Day

The Gold to Bitcoin dominance ratio compares the market cap of both assets.
Byte-Sized Alpha
Here’s a summary of more US crypto news to follow today:
Bitcoin’s safety net comes into view as Galaxy Digital warns of deeper pullback.Ethereum price warning: $1,500 risk appears as a bullish metric drops 90%.Bitcoin slips below $80,000 as large holders exit — But bounce signals are emerging.XRP price under pressure: ETF outflows, holder losses, and a possible rebound.MicroStrategy MMSTR stock barely escapes cost-basis scare — A 20% price swing awaits?Why Vitalik Buterin sold over 700 Ethereum ETHUSD despite market recovery.
Crypto Equities Pre-Market Overview
CompanyClose As of February 2Pre-Market OverviewStrategy MMSTR$139.66$140.80 (+0.82%)Coinbase COIN$187.86$189.53 (+0.89%)Galaxy Digital Holdings GGLXY$26.44$26.95 (+1.93%)MARA Holdings MMARA$9.12$9.18 (+0.66%)Riot Platforms RRIOT$15.32$15.53 (+1.37%)Core Scientific (CORZ)$17.87$18.05 (+1.01%)
Crypto equities market open race: Google Finance
#TrumpProCrypto #GoldSilverRebound #VitalikSells #StrategyBTCPurchase