Sellers Still in Charge

DAILY MARKET OVERVIEW

Bitcoin Stuck in No Man's Land

👋 Hey, Crypto Enthusiasts! Markets have been keeping us on our toes, so let's break it all down.

Bitcoin continues to hover in the mid-$60,000s, stuck in a frustratingly tight range with little conviction in either direction. Every attempt to break above $70k has been met with a wall of sellers, and the short-term price action isn't painting a pretty picture.

We're seeing a clear pattern of lower highs after each push, which is a warning sign bulls shouldn't ignore.

Adding to the pressure, geopolitical tensions are back in the spotlight. President Trump confirmed late yesterday that he is weighing a limited military strike on Iran in an effort to force a nuclear deal, the kind of headline makes traders nervous.

On the institutional side, ETF flows aren't offering any comfort either. Outflows have been accelerating over the past three days, with BlackRock continuing to deposit both BTC and ETH to Coinbase to sell.

💲 Combine that with a strengthening dollar and the risk-off mood tightening its grip, and the backdrop for crypto looks increasingly difficult.

🤔 Could we still see a relief rally? It's possible. Bitcoin would need to reclaim $71k convincingly and push toward the $75-76k zone to shift the short-term narrative. But in this environment, chasing such moves carries meaningful risk and isn't something we would do.

For now, we remain patient. Further downside in the coming months looks like the more probable path, and $50k Bitcoin is very much still on the table.

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SOCIAL SENTIMENT

The Fight Over Stablecoins

The CLARITY Act is a proposed U.S. law meant to finally set clear rules for the crypto industry, including who regulates what and how products like stablecoins should be treated.

• One of its most disputed pieces is whether stablecoins should be allowed to offer rewards or yield.

On Thursday, crypto leaders and bank representatives returned to the White House for their third closed-door meeting to argue that exact point. The talks lasted for hours. When people walked out, the tone was calm and cautiously positive, but there was still no agreement.

Banks say that if stablecoins can pay rewards, money will flow out of traditional banks and hurt especially smaller ones. Crypto companies say banning rewards would slow innovation and make the United States less competitive.

The White House floated a possible compromise. Companies might be allowed to offer rewards for certain actions, but not simply for holding stablecoins. The idea was discussed, not settled.

For now, the bigger CLARITY Act remains in limbo. Both sides say the talks will continue. The fight over stablecoin rewards is still one of the last big obstacles standing in the way of a deal.

NEWS OVERVIEW

The Latest Crypto Headlines 📰 

CME to Launch 24/7 Crypto Derivatives Trading
CME Group will introduce round-the-clock bitcoin and ether futures trading on May 29 as institutional demand for regulated crypto exposure accelerates.

Polymarket Acquires Prediction Market API Startup Dome
Polymarket bought Dome, a Y Combinator-backed API startup, strengthening its developer infrastructure as prediction market activity expands.

Tokenized xStocks Surpass $25B in Lifetime Volume
Kraken reported xStocks exceeded $25 billion in transactions, highlighting rising demand for fully backed, onchain tokenized equities.

ProShares Launches GENIUS Act-Compliant Money Market ETF
ProShares introduced IQMM, a short-term Treasury ETF designed to meet stablecoin reserve requirements under the GENIUS Act.

YOUTUBE INFLUENCER SUMMARY

Summary From The Top Influencers 📷️ 

Benjamin Cowen – Market Discussion (20.02.2026 Summary)

Ben Cowen, Gareth Soloway, Scott Melker, and Mike McGlone compare Bitcoin, stocks, gold, and bonds. Main idea: money is moving from risky stuff to safer stuff, not the other way around.

Key Points

• Bitcoin often bounces into early March in midterm years
  Cowen thinks a short-term pop is possible, but it usually turns into a lower high before dropping again.

• Bigger downside levels they’re watching
  Cowen points to the mid-$50Ks (realized price area) as a likely stop, and the low-$40Ks (balance price area) as a deeper “capitulation” zone.

• The pain feels worse because altcoins never really recovered
  Melker says this is brutal for altcoin traders since many alts didn’t get a real bounce, while Bitcoin still has a better chance long-term.

• McGlone’s view: sell rallies, don’t buy dips
  He thinks crypto is leading risk lower, and any bounce is more of a chance to reduce exposure.

• Gold vs silver looks like “flight to safety”
  Gold is holding up better than silver, similar to how Bitcoin used to hold up better than alts.

• Bonds might be the surprise winner
  McGlone likes Treasuries as a trade if stocks roll over and volatility picks up.

Final Takeaway
They allow for a short Bitcoin bounce soon, but the bigger picture is still risk-off. If markets keep rolling down the risk curve, the safer trades (bonds, gold) can keep winning while crypto stays choppy.

Paul Barron – CLARITY Crossroads (20.02.2026 Summary)

Paul Barron says crypto is at a crossroads. The Clarity Act could be a major catalyst, but macro pressure, tariffs, and market stress are still weighing on everything. The big question: are we near a bottom, or is more pain coming?

Key Points

• Clarity Act is close, but not a guaranteed bottom
  Prediction odds spiked above 90% before pulling back. Barron thinks clarity is coming, but regulation alone may not instantly reverse the market.

• Nvidia and tech could set the tone
  If AI stocks stabilize, especially Nvidia, that could help crypto find footing.

• Ethereum near key support
  ETH around $1,900 is approaching realized price levels that often signal capitulation zones. A flush lower is possible, but risk-reward improves there.

• Fear is extreme
  Fear and Greed is near historic lows, and “Bitcoin going to zero” searches are surging. That kind of sentiment often appears near market bottoms.

• Tariffs and jobs are real pressure points
  Studies show consumers are absorbing most tariff costs. Weak job growth adds more stress. Markets need price stability and stronger employment to recover.

• Risk signs are building
  A struggling private credit fund and speculative tokenized hotel revenue deals remind Barron of late-cycle behavior.

Final Takeaway
Barron sees regulatory clarity as a potential spark, but macro risks are still heavy. Crypto looks deeply fearful, which can mean opportunity, but confirmation depends on both Washington and the broader economy stabilizing.

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