Crypto Market Slides as BTC, ETH Drop; Altcoins Mixed Amid Risk-Off Flows

I. Crypto Market Overview

Key Takeaways

Macro Environment

Global risk sentiment remains fragile as US tariff hikes and EU trade deal suspension fuel volatility. Standard Chartered forecasts up to $1 trillion in stablecoin-driven US Treasury demand by 2028, potentially impacting liquidity. Digital asset funds saw $288M in outflows, signaling tightening institutional appetite.

Crypto Market

The crypto market saw broad declines over the past 12 hours, with BTC down 2.2% to $66,068 and ETH falling 1.7% to $1,915. Most altcoins dropped, led by SOL (-4.0%), while PIPPIN (+13.8%), JST (+7.0%), and ETHFI (+4.0%) outperformed, driven by speculative flows and DeFi activity. Risk-off sentiment and ETF outflows pressured prices.

Today's Outlook

No major token unlocks or impactful crypto events are scheduled for today. Market focus remains on macroeconomic uncertainty, ETF flows, and risk sentiment, with volatility likely to persist ahead of key US economic data releases later this week.

Fear and Greed Index

66.00% Annual Percentile

14 Fear

Total Crypto Market Cap

$2.28T

1.55%

Total Market Trading Volume

$91.92B

80.82%

Altcoin Season Index

33.33%

Quarterly Percentile

31 / 100

Total Futures Market Open Interest

3.11B

0.97%

Futures

372.67B

5.46%

Perpetuals

II. Industry Updates

Macro-economic Policies

Bitcoin's price dropped below $65,000 after Trump raised global tariffs to 15%, triggering $230M in long liquidations and increasing macro risk aversion, which pressured BTC and DeFi liquidity.

The European Union suspended approval of a US trade deal due to tariff concerns, intensifying trade tensions and contributing to volatility in crypto markets as investors reassess risk exposure.

Standard Chartered projects stablecoin issuers could drive up to $1 trillion in demand for US Treasuries by 2028, potentially impacting global liquidity and influencing capital flows into crypto assets.

Latin American equities surged over 20% in 2026 as global liquidity shifted away from US markets, prompting capital rotation that may affect crypto market inflows and risk sentiment.

Digital asset investment products saw $288M in outflows, marking the fifth consecutive week of declines, reflecting reduced institutional appetite and tightening liquidity across crypto markets.

Cryptocurrency Regulatory Trends

Standard Chartered projects stablecoin issuers could drive up to $1 trillion in demand for U.S. Treasuries by 2028, prompting potential shifts in government debt issuance and impacting global liquidity.

The Austrian regulator has halted KuCoin EU's new business due to a missing AML compliance officer, highlighting strict enforcement of anti-money laundering rules under MiCA and affecting exchange operations in Europe.

Tether will discontinue its CNH₮ stablecoin amid evolving global regulatory requirements for stablecoins, reflecting increased scrutiny and compliance pressures on issuers.

Binance has reduced its sanctions-related risk exposure by 96.8% since 2024, expanded its compliance team, and assisted law enforcement, signaling a stronger focus on regulatory compliance and market legitimacy.

54% of major companies plan to adopt stablecoins in 2026, according to EY, indicating growing institutional acceptance and likely increased regulatory oversight of corporate digital asset usage.

PIPPIN (PIPPIN): PIPPIN surged 13.7% in the past 24 hours, topping gainers with strong speculative momentum, but no major news or events were identified as the driver for this move.

JUST (JST): JST rose 6.8% in 24 hours, with trading volume reaching $28.7M and market cap at $400M. The gain is attributed to renewed DeFi activity on the TRON ecosystem.

ether.fi (ETHFI): ETHFI climbed 4.7% in 24 hours, with a market cap of $328M. The increase is linked to growing adoption of liquid restaking and DeFi integrations on Ethereum.

Smart Money Movements

BlackRock deposited 1,134 BTC and 7,553 ETH worth $89.46 million into Coinbase, signaling major institutional movement.

Strategy acquired 592 BTC for $39.8 million at an average price of $67,286, increasing total holdings to 717,722 BTC valued at $47.5 billion.

Bitmine purchased 51,162 ETH for $99.4 million, raising its total Ethereum holdings to 4,422,659 ETH valued at $8.5 billion.

A newly created address opened a $29 million long position on 15,103 ETH with 25x leverage on Hyperliquid, with a liquidation price at $1,819.60.

Over 31 million XRP tokens were transferred to Binance by large holders, highlighting significant whale activity in the XRP market.

Events to Watch

Feb 24 (Tue)

U.S. ADP employment change, CB consumer confidence, and January M2 money supply data will be released, offering key insights into labor and liquidity trends.

Feb 25 (Wed)

U.S. Federal Reserve balance sheet and Eurozone core inflation rate final data for February will be published, impacting global monetary policy outlook.

Feb 26 (Thu)

U.S. Q4 2025 GDP second estimate, Personal Income & Outlays, and PCE Price Index will be released; Tokyo February inflation data also due.

Feb 27 (Fri)

U.S. Core PCE Price Index, Producer Price Index (PPI) MoM and YoY, and Germany's preliminary February inflation rate will be announced; Canada Q4 GDP growth rate also released.

Feb 28 (Sat)

Optimism (OP) will unlock $36.5M in tokens to core contributors; XPL token distribution for U.S. public sale purchasers increases circulating supply.

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