Bitcoin Steady Near $68K as ETF Outflows and Institutional Moves Shape Crypto Markets

A crypto markets review,shows Bitcoin has lost one percent for the day and continues to trade sideways at just under $68,000. In the US, Bitcoin ETFs saw a $105 million outflow of capital on Tuesday

Strategy (MSTR) released data on its Bitcoin purchases from last week, acquiring 2,486 BTC for an average price of $66,710. This brings Strategy’s total holdings to 717,131 Bitcoin, purchased at an average price of $76,027. The negative difference compared to the current BTC price should give critical MSTR investors pause for thought.

Crypto markets and Ethereum

Ethereum, meanwhile, gained one percent for the day, climbing to just over $2,000. Ethereum ETFs in the US reported $48.6 million in new capital.

Ethereum Foundation co-chairman Tomasz Stanczak is stepping down at the end of the month. In a blog post , he announced Bastian Aue as his successor. Stanczak had only been in office since last April and was responsible for the Ethereum Foundation’s business contacts. Aue is a homegrown talent of the foundation, and Ethereum founder Vitalik Buterin welcomed the promotion. Incidentally, Bastian Aue goes by the name “Aerugo” on X.

How are the altcoins affected

The Donald Trump-backed project World Liberty Financial (WLFI) is one of the outliers, rising 16 percent daily. The reason for this isn’t immediately apparent, but the Trumps are known for their behind-the-scenes dealings.

The biggest loser in the crypto markets of the day is SKY, formerly known as Maker (MKR) . The DeFi project SKY suffered a 6 percent daily loss.

The sentiment barometer for the crypto markets indicates “extreme fear”. Given this, the fluctuations remain manageable, but this could also be a deceptive calm.

From the Cryptogust

The Bridge stablecoin platform was acquired by Stripe last year and has now received a provisional banking license in the US. In an official blog post , this development is seen as particularly useful in the context of the GENIUS US laws for stablecoins, allowing Bridge to offer new services in the future

Crypto exchange Gemini has dismissed three top executives at once: COO Marshall Beard, CFO Dan Chen, and CLO Tyler Meade. The corresponding mandatory disclosure states that Gemini co-founder Cameron Winklevoss will now assume leadership roles. Gemini itself has been listed on the stock exchange for about six months and is apparently facing cost-cutting measures, with 25 percent of its workforce expected to be laid off and operations in Europe to be scaled back.

Artificial intelligence and crypto

Training courses on the use of artificial intelligence (AI) are generously funded with taxpayers’ money in Germany. According to research by the FAZ (paywall), this leads to organized fraud and significant quality deficiencies. Insiders are already referring to them as “Corona testing centers 2.0.”

Other important news in the crypto markets

Sam Bankman-Fried is known to be in prison for fraud, money laundering, and other offenses. His cryptocurrency exchange, FTX, was the base for SBF’s criminal activities, using billions of dollars of customer funds, until its insolvency in November 2022. But on X , Sam Bankman-Fried claims it’s all just a misunderstanding. Behind bars, he says, “FTW was always solvent.” To the defrauded customers, this sounds like a mockery; they’re likely hoping for harsher sentence,

The US Federal Reserve (Fed) is releasing the minutes of its last meeting from late January today. These may contain clues as to whether the Fed is considering a rate cut, as President Donald Trump has been loudly demanding. The Fed’s next regular meeting is scheduled for March 17 and 18, and a rate cut at that time is currently considered very unlikely.

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(Featured image by Jonathan Borba via Unsplash)

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