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Kanye West adds to memecoin disturbance as a broader market

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By Francisco Rodrigues (all time and unless indicated otherwise)

Cryptocurrency prices rise after the US Securities and Exchange Commission’s former crypto unit move to cyber and emerging technology unit and amid comments from the Atlanta Fed President Raphael Bostic.

Changing the name of crypto assets and cyber units is significant as it shows the agency moves from the focus of crypto that often leads to Regulatory accusations by implementation and legal against major industry participants.

“In closely with the medium term, clearer regulations are likely to boost institutional participation, leading to improvements in market infrastructure,” backpack founder and CEO Armani Ferrante told Coindesk. Bitcoin is up to $ 98,000 after adding 1.2% to 24 hours, while the wider CoinDesk 20 index rose 1.35%.

However, volatility is still quite low. “These environments may feel slow and frustrating, but they rarely continue for a long time – volatility tends to mean,” Wintermute OTC businessman Jake or CoinDesk said.

Through the tensions between the US and European allies growing, investors in the German election on Sunday will lead to a stable coalition government that will push economic reforms to stimulate growth and boost the expenditure to the defense. Germany is the largest European economy and a positive result can lead to a more risk-on approach.

Open interest moves early in the election. However, the crypto market Lacking in positive catalysts In the near term, JPMorgan analysts led by Nikolaos sideszoglou wrote in a report.

In fact, the market is approaching backwardation – where the prices are rising above the prices of futures – to a “negative development” that “indicates the weakness of demand” of institutional investors that uses regulated contracts of CME futures to obtain exposure to the market. Stay alert!

What to watch

Crypto:
Macro
- Feb. 21, 9:45 AM: S&P Global Releases February’s (Flash) US Purchasing Managers’ Index (Flash) report.
  - Composite PMI Prev. 52.7
  - Making PMI EST. 51.5 compared to prev. 51.2
  - PMI services are. 53 vs. Past. 52.9
- Feb. 24, 5:00 am: Eurostat released Eurozone’s consumer inflation data for January.
  - Core inflation rate yoy est. 2.7% compared to prev. 2.7%
  - The rate of inflation yoy est. 2.5% compared to prev. 2.4%
We are
- Feb. 24: Riot platforms (Disturbance), post -market, $ -0.18
- Feb. 25: Bitdeer Technologies Group (Btdr), pre -market, $ -0.17
- Feb. 25: Cipher Mining (CIFR), pre -market, $ -0.09
- Feb. 26: Mara Holdings (Mara), post -market, $ -0.13

Events with the token

Votes and Management Calls
Unlocks
- Feb. 21: Quick token (FTN) to unlock 4.66% of the switch -shifted supply worth $ 78.6 million.
- Feb. 28: Optimism (OP) to unlock 1.92% of the circulating -transfer supply worth $ 34.23 million.
- Mar. 1: Sui (Sui) to unlock 0.74% of the circulating -switch supply worth $ 81.07 million.
Launching a token

Conferences:

CoinDesk’s agreed to take place Toronto on May 14-16. Use a codebook code and save 15% on passes.

Token talk

By Oliver Knight

Through a botched launch from Argentine president Javier Milei and a token proposed by self-profess Nazi Kanye West, now known as Ye, this week in Memecoin Land is one to forget.
Castle Island Ventures partner Nic Carter said the craving is “No doubt,” an insight that can cement a report reveal that the West is planning to introduce Yzy token – and owner of 70% of supply.
The rest of the crypto market remains relatively unconscious by the potential sector death: ETH and LTC are up to 3% this week while TRX rose 7.7% because liquidity appears to be spinning from ACTIVITIES -As tokens back to more utilitarian projects.
Close to the lead in the pack on Friday, which fell 11% after announcement The “first real autonomous” agent of AI. The agents are able to automatically own, trade and manage the assets on-chain.

Derivatives positioning

The BTC’s open interest in centralized exchanges has increased by about 5% to $ 37.3 billion in the past 24 hours. This, in conjunction with the return to funding from the positive to the negative, suggests a potential short squeeze situation. Short fluids led markets in Futures at the time, near a total of $ 110 million compared to $ 6.11 million in Longs.
Among the assets with over $ 100 million in open interest, the DAO manufacturer, Virtuals Protcol and artificial Super Intelligence found the highest one day increase, rising by 39.2%, 35.5%and 28.00 %, respectively.
Among the choice instruments, the BTC call option with a price of a $ 99,000 strike and expires Feb. 22 exchanged the most quantities in the derivit. The next most popular choice instrument is the BTC call with a price of a $ 108,000 strike, which expired on Feb.

Market Movements:

BTC reached 0.28% from 4 pm et Thursday to $ 98,632.42 (24hrs: +1.35%)
ETH is up to 2.09% to $ 2,800.02 (24hrs: +2.15%)
CoinDesk 20 is up to 0.92% to 3,298.29 (24hrs: +1.49%)
Ether Cesr Composite Staking Rate does not change to 2.99%
BTC funding rate is at 0.0010% (1.0961% annual) in Binance
DXY reached 0.29% to 106.68
Gold drops 0.31% to $ 2,929.76/oz
Silver drops 0.12% to $ 32.91/oz
Nikkei 225 closed +0.26% to 38,776.94
Hang Seng +3.99% closed to 23.477.92
FTSE reached 0.20% to 8,680.19
Euro Stoxx 50 reached 0.18% to 5,471.08
DJIA closed Thursday down -1.01% to 44,176.65
S&P 500 closed -0.43% to 6,117.52
NASDAQ closed -0.47% in 19,962.36
The S&P/TSX composite index is closed -0.44% to 25,514.08
S&P 40 Latin America closed +0.76% to 2,480.21
US 10-year Treasury Rate dropped 2 bps to 4.49%
E-Mini S&P 500 Futures does not change to 6,138.25
E-Mini Nasdaq-100 Futures reached 0.13% to 22,170.75
E-Mini Dow Jones Industrial Average Index Futures are up to 0.10% to 44,309

Bitcoin Stats:

BTC Dominance: 61.02 (-0.35%)
Ethereum in Bitcoin Ratio: 0.02842 (2.01%)
Hashrate (seven-day average move): 807 eh/s
HASHPRICE (spot): $ 54.92
Total Fees: 5.34 BTC / $ 526,892
CME Futures Open Interest: 178,500 BTC
BTC that is priced at gold: 33.4 oz
BTC vs Gold Market Cap: 9.49%

Technical analysis

The man appeared as one of the strongest performing assets last week, fueling by launching a dynamictao upgrade. This momentum promotes the price mainly the major exponential moving averages on the day -to -day time, which signifies the strength of the changed strength.
Adding to the bullish emotion, price action is formed by an opposite head and shoulder pattern.
The recent list of people in Coinbase provided an extra catalyst, driving its price almost 20% to a high $ 495 from the initial announcement.

Crypto equities

Microstrategy (MSTR): Closed on Thursday at $ 323.92 (+1.65%), up to 0.37% to $ 324.85 in pre-market
Coinbase Global (coin): closed at $ 256.59 (-0.80%), up to 0.86% to $ 258.80
Galaxy Digital Holdings (GLXY): Closed to C $ 25.65 (+1.30%)
Mara Holdings (Mara): closed at $ 15.95 (+1.08%), up to 0.38% to $ 16.01
Riot Platform (Riot): closed at $ 11.60 (+0.35%), up to 0.52% to $ 11.66
Core Scientific (Corz): closed at $ 11.84 (-1.50%), up to 0.51% to $ 11.90
CleansPark (CLSK): closed to $ 10.06 (+1.72%), up to 0.80% to $ 10.14
Coinshares Valkyrie Bitcoin Miners ETF (WGMI): Closed to $ 22.49 (-1.27%), down 0.31% to $ 22.42
Semler Scientific (SMLR): closed to $ 52.24 (+0.04%), unchanged
Exodo Movement (Exod): closed at $ 47.80 (-1.26%), down 2.72% to $ 46.50

ETF is flowing

Spot btc etfs:

Net -Net Flow: -$ 364.8 million
Cumulative Net Flow: $ 39.63 Billion
Total BTC handling ~ 1.169 million.

Spot etfs

Net -Net Flow: -$ 13.1 Million
Cumulative Net Flow: $ 3.16 Billion
Total Eth Holdings ~ 3.807 million.

Source: Farside Investor

Overnight flowing

Top 20 prices and quantities of digital assets

Chart of the day

Bitcoin price action has been able to spare short fluids worth $ 97.9 million at the level of $ 98,890, according to coinglass. The next major resistance level, based on the heat heat map, is $ 99,185 and $ 99,332, of which fluids cost $ 65.2 million and $ 67.9 million, respectively, are clustered.
On the downside, significant long prevention were positioned at $ 97,415 and $ 97,194, worth $ 69.3 million and $ 70.7 million, respectively. Basic levels feature potential volatility areas as Bitcoin navigates the current price range.