Author: Tristan Lodenberg

Shares of major Bitcoin mining companies, including CleanSpark and IREN, plunged sharply on Thursday following disappointing quarterly earnings and a broader drop in cryptocurrency prices. CleanSpark Earnings Fall Short CleanSpark (CLSK) led the decline, falling 19.13% during regular trading and an additional 8.6% after hours to $7.55. The company reported $181.2 million in revenue for the quarter ending December 31, missing analyst expectations of $186.66 million. Net losses surged to $378.7 million, compared with a $246.8 million profit in the same period last year. Analysts cited lower mining rewards after Bitcoin’s April 2024 halving, which reduced operational efficiency and constrained…

Bitcoin exchange-traded funds (ETFs) recorded significant outflows on Thursday, with nearly $434 million withdrawn, continuing a trend of heavy redemption over the past two days. Data shows that Wednesday saw $545 million in redemptions, while Monday’s inflows of $561 million were insufficient to offset the losses, leaving net weekly outflows at roughly $690 million. The sell-off coincided with a sharp dip in Bitcoin’s price, which briefly touched $60,000 for the first time since October 2024. Analysts and investors have struggled to identify a clear catalyst for the decline, raising concerns about the broader implications of ETF adoption on Bitcoin’s market…

Bitcoin’s largest holders are steadily reducing their exposure, pushing their share of the total supply to its lowest level in nine months as the market experiences a sharp correction. Bitcoin Whale Holdings Drop Sharply Wallets holding between 10 and 10,000 BTC often referred to as whales and sharks — now control roughly 68% of Bitcoin’s circulating supply. This marks a notable decline after these entities collectively sold more than 80,000 BTC in just over a week. The reduction coincided with Bitcoin’s price falling nearly 27%, dropping from around $90,000 to the mid-$60,000 range. Santiment posted to X on Thursday; Market Sentiment Turns…

MARA Holdings, a Nasdaq-listed Bitcoin mining company, transferred roughly 1,317 BTC—worth about $87.4 million—over a 13-hour period as the crypto market faced renewed downward pressure. Large Bitcoin Transfers Highlight Market Stress Onchain data shows that the largest portion, 653.77 BTC valued at $43.4 million, was sent to an address linked to digital asset manager Two Prime. Smaller transfers included 8.999 BTC ($597,000) to the same address, 200 BTC and 99.99 BTC to BitGo-linked wallets, and an additional 355 BTC spread across unidentified addresses. These movements occurred as Bitcoin briefly fell to $60,000 on Thursday before recovering slightly to $66,417. The…

Bitcoin’s recent sell-off has raised fresh doubts about a near-term rebound, with derivatives markets signaling limited confidence in a sharp recovery by March. Bitcoin Price Falls Below $63,000 Amid Macro Pressure Bitcoin dropped below $63,000, marking its lowest level since November 2024 and extending losses to roughly 30% from its late-January high near $90,500. The decline followed weak U.S. employment data, a broader equity market pullback, and growing concerns that heavy investment in the artificial intelligence sector may be forming a bubble. These factors have pushed investors toward a more risk-averse stance. BTC Options Market Signals Low Upside Probability Options…

Tether has deepened its push into precious metals with a $150 million investment in Gold.com, signaling a stronger commitment to gold-backed digital assets amid ongoing market uncertainty. The stablecoin issuer’s investment arm acquired roughly a 12% stake in the publicly listed precious metals platform, which operates an online marketplace for physical gold, silver and platinum, including in the United States. Integration of Gold-Backed Crypto As part of the deal, Gold.com will integrate Tether Gold (XAUt), a token backed by physical gold reserves. The move is designed to bridge traditional bullion markets with blockchain-based finance, allowing users to gain exposure to…

Gemini, the US-based cryptocurrency exchange founded in 2015, has announced its withdrawal from the United Kingdom, European Union and Australia, alongside a 25% reduction in its global workforce. The company said the decision reflects both changing technology dynamics and challenging operating conditions in overseas markets. Workforce Cuts Driven by AI and Market Pressures According to the company, advances in artificial intelligence have significantly reduced the need for large engineering teams, with automation dramatically improving productivity. Combined with regulatory complexity, higher costs and weaker user demand in the UK, EU and Australia, these factors made continued expansion in those regions difficult…

BlackRock’s spot Bitcoin exchange-traded fund saw unprecedented trading activity as investors reacted to a sharp downturn in the crypto market. IBIT Records Highest Daily Trading Volume The iShares Bitcoin Trust ETF (IBIT) reached a record $10 billion in daily trading volume on Thursday, marking its most active session since launch. The surge came as Bitcoin experienced a steep sell-off, falling 12% within 24 hours. Heavy volumes reflected heightened investor repositioning rather than fresh inflows, as traders moved quickly amid market volatility.  Eric Balchunas said on X; IBIT’s share price dropped around 13% on the day, making it one of its worst single-day…

Renewed attention on U.S.–Iran tensions is injecting fresh uncertainty into already fragile cryptocurrency markets. A U.S. government advisory urging American citizens to leave Iran, first issued in mid-January, has resurfaced online just days before planned nuclear discussions between Washington and Tehran in Oman. While officials have clarified that the warning itself is not new, its reappearance has heightened geopolitical anxiety among global investors. Bitcoin Reacts Like a High-Risk Asset Bitcoin’s recent price action suggests that traders are treating it less like a defensive hedge and more like a high-beta risk asset. After weeks of sharp swings driven by forced liquidations…

Kalshi has announced expanded monitoring measures across its prediction markets platform as wagering activity spikes ahead of the Super Bowl. The move comes as regulatory scrutiny of event-based trading intensifies in the United States. Independent Oversight Committee to Monitor Market Activity The company has formed an independent surveillance advisory committee tasked with identifying insider trading and potential market manipulation. Kalshi said the group will provide quarterly reports to outside legal counsel and release transparency data on the number and outcomes of investigations into suspicious trades. To enhance detection capabilities, Kalshi has partnered with Solidus Labs, a firm specializing in trading…