The current market downswing could be driven by institutional investors exiting positions, as crypto still presents too much risk for them. Bitcoin market observers believe that the recent price slump may actually reflect the asset’s wider adoption by institutions, which still don’t see it as a risk-off asset. It’s been rough out there for crypto in recent months. Since October, when Bitcoin’s price reached a high of over $120,000, BTC has been gradually sliding. In recent weeks, it dropped sharply, down over 25% on the month. Amid the sell-off, market observers have been looking for explanations. Bitwise chief investment officer Matt Hougan attributed the fall to the notorious four-year cycles that have previously defined crypto market price swings. Read more
Onchain data shows nearly 49,000 BTC moved from miner wallets in two days, but public disclosures suggest the transfers do not reflect broad capitulation. Bitcoin miner outflows jumped to 28,605 BTC, worth about $1.8 billion, on Feb. 5, one of the largest single-day transfers since November 2024, as prices swung sharply during a volatile trading session. Another 20,169 Bitcoin (BTC), worth about $1.4 billion, left miner-linked wallets on Feb. 6, according to data from CryptoQuant. The last comparable spike occurred on Nov. 12, 2024, when outflows reached 30,187 BTC. The spike coincided with sharp price swings, with BTC trading at about $62,809 on Feb. 5 before rebounding to $70,544 a day later. Large miner wallet transfers during volatile sessions often draw scrutiny because they can signal potential selling pressure. Read more
The US National Credit Union Administration proposed a federal licensing regime for payment stablecoin issuers operating through credit union subsidiaries. The United States National Credit Union Administration (NCUA) has proposed its first rules under the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act, sketching out how subsidiaries of federally insured credit unions could apply to become federally supervised payment stablecoin issuers. The NCUA, which oversees more than 4,000 federally insured credit unions serving roughly 144 million members and about $2.38 trillion in assets as of mid-2025, is using this proposal to set out the process and standards for licensing such issuers. Under the proposal, any payment stablecoin issuer that is a “subsidiary of an insured credit union” would need to obtain an NCUA permitted payment stablecoin issuer (PPSI) license before issuing coins. Read more