Analyst: Bitcoin's Daily Net Buying Volume Still Greater Than Mining Volume, But Tech Stock Sell-Off May Put Continued Pressure on Bitcoin
February 17 — MEXC Research Chief Analyst Shawn Young says cryptocurrency traders could push Bitcoin back to $100,000.
Young notes: While buyers aren’t scooping up digital assets in the same big volumes as months ago, their daily Bitcoin purchases still outpace daily mining output. That’s created a net positive supply dynamic that could spark a short-term rebound.
Some analysts warn the situation could worsen. Bloomberg Intelligence’s Mike McGlone even predicts Bitcoin could plunge 85% to $10,000. His reasoning: Stock market gains have damped market volatility, gold and silver have outperformed Bitcoin as safe-haven assets, and the industry has lost confidence in former President Trump’s crypto push.
Crypto investment firm Keyrock researcher Ben Harvey and others argue Bitcoin’s next move hinges on macro factors — like Fed rate cuts and institutional buying of Bitcoin ETFs — not internal crypto drivers.
Bloomberg data shows AI bubble fears have sent credit default swap (CDS
9 minutes ago
German Central Bank Governor: Euro Stablecoin Will Provide Europe with More Independence to Escape the Influence of Dollar Stablecoins
**Deutsche Bundesbank Chief Backs Euro Stablecoins, CBDCs to Boost Europe’s Payment Independence**
Deutsche Bundesbank President Joachim Nagel said a euro-pegged stablecoin would help Europe gain more independence from soon-to-be-approved USD-linked stablecoins under the U.S. GENIUS Act.
Nagel also supports launching a euro retail central bank digital currency (CBDC) and euro-denominated payment stablecoins. Speaking at the American Chamber of Commerce’s New Year’s reception in Frankfurt on Monday, he noted EU officials are “working hard” to roll out a retail CBDC. Euro stablecoins, he added, will make Europe “more independent in terms of payment systems and solutions.”
He highlighted two key benefits: Wholesale CBDCs will let financial institutions use central bank money for programmable payments, while euro stablecoins enable individuals and businesses to make low-cost cross-border payments.
Nagel’s comments come months after U.S. President Trump signed a bill to regulate
9 minutes ago
Fast Food Chain Steak'n Shake: Bitcoin Payment Support Has Driven Sales Growth 'Significantly'
On February 17th, fast-food chain **Steak 'n Shake** (note: corrected from "Stake 'n Shake") announced that its decision to accept Bitcoin payments nine months ago has driven a "significant" rise in same-store sales.
In a statement posted to Platform X on Monday, the company noted that Bitcoin payment proceeds go directly into its strategic Bitcoin reserve—funds later used to distribute employee bonuses.
Earlier this year, Steak 'n Shake disclosed it had added $10 million worth of Bitcoin to its corporate treasury reserve, creating a "self-reinforcing" cycle: customers pay with BTC, sales climb, and crypto revenue flows back into the reserve.
The chain has accepted Bitcoin via the Lightning Network since May 2023. Initially, same-store sales saw a 10% jump. Chief Operating Officer Dan Edwards revealed the company saves roughly 50% on processing fees when customers pay with cryptocurrency.
In October 2023, the fast-food chain launched a Bitcoin-themed burger and pledged to d
9 minutes ago
A whale address today swapped 129 BTC for 4412 ETH
February 17th: Per Onchain Lens monitoring data, a whale has once again spent 43 BTC (roughly $2.91 million) to acquire 1,468 ETH.
To date, this address has spent a total of 129 BTC (≈$8.72 million) to purchase 4,412 ETH at an average price of $1,976, and has transferred all these ETH to a new wallet.
9 minutes ago
Headline: Institution: Dollar Continues Modest Rally, Ignores Market Expectations of Fed Rate Cut About Three Times
February 17
The U.S. dollar edged higher for a second straight trading day, fully shrugging off market pricing that had factored in roughly three Federal Reserve rate cuts this year.
Options markets signal a easing of recent bearish dollar sentiment: the front-end risk reversal index has dropped to its lowest negative level in nearly a month.
Currency markets now price in ~64 basis points of Fed rate cuts by year-end. Some strategists warn this outlook is overdone—three cuts may stretch beyond data-supported reasonable ranges, creating upside risk for the greenback.
“Fed rate cut expectations look somewhat overdone, leaving room for a short-term dollar bounce,” said Elias Haddad, Global Head of Market Strategy at Brown Brothers Harriman. He noted growth momentum remains solid and inflation has stayed consistently above the Fed’s 2% target.
(Source: FXStreet)
9 minutes ago
GBP Stablecoin Issuer Agant: UK Crypto Legislation Could Come Into Effect as Early as 2027
February 17th – Andrew MacKenzie, CEO of GBP stablecoin issuer Agant, said the UK’s crypto regulatory framework is on the right track—but progress is moving too slowly to support the country’s ambition of becoming a global digital asset hub.
The UK government has repeatedly pledged to make London a global hub for crypto and digital asset activity. However, legislation covering stablecoins and broader crypto activities isn’t expected to get parliamentary approval until later this year, with formal implementation likely not happening until 2027.
MacKenzie noted this timeline conflicts with the government’s goal of keeping the industry globally competitive. Speaking at the Consensus Hong Kong conference, he stated: “The most frustrating thing right now is how long it’s taken us to get where we are. People just want clarity… If I have one expectation of regulators, it’s to speed up how we do things.”
Agant recently joined a small group of crypto firms registered with the UK’s Fina
9 minutes ago
App Store
Profile
Security
Sign Out
Feeds
Articles
Source
Add to Favorites
Download image
Share x
Copy link
