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Bitcoin Slides as Macro Uncertainty and AI Weakness Fuel Risk-Off Sentiment

Tariffs, weakness in AI stocks, and liquidations have pushed Bitcoin to a three-week low as investors weigh macro risks and the Bybit hack.

The largest digital asset traded below $92,000, its lowest level since February 2, with the decline accelerating after Trump confirmed tariffs on Mexican and Canadian imports “are going forward.”

Strategy Buys Almost $2 Billion More Bitcoin, Stash Nears 500,000 Bitcoin

Business intelligence and bitcoin treasury company Strategy said Monday it has again expanded its bitcoin holdings, acquiring nearly $2 billion more of the digital currency.

Strategy, formerly known as MicroStrategy, said in a regulatory filing that it purchased an additional 20,356 bitcoin at an average price of $97,514.1 The purchase, which was funded through a zero-coupon convertible note offering, brings the company’s total bitcoin reserves to 499,096 bitcoin.

With this latest purchase, Strategy now holds more than 2.3% of bitcoin’s fully diluted supply capped at roughly 21 million. According to bitcoin supply tracker BitcoinTreasuries, BlackRock's iShares Bitcoin Trust (IBIT) is the only other entity with a larger share of the total bitcoin supply on its books, at nearly 2.8% of total existing bitcoin.

SEC and Michael Saylor Discuss Crypto Framework That Could Redefine Regulation

The SEC’s Crypto Task Force met with Michael Saylor to discuss a groundbreaking regulatory framework that could legitimize digital assets, fuel market growth, and secure U.S. dominance.

Saylor presented a set of documents that served as the foundation for the meeting. The document, titled “Digital Assets Framework, Principles, and Opportunity for the United States,” outlined Saylor’s vision for a structured regulatory framework.

His plan classified digital assets into six categories, including digital commodities like bitcoin, digital securities tied to equity or debt, and digital currencies backed by fiat. Saylor stressed that a well-defined taxonomy is crucial for regulatory clarity and fostering innovation in the sector.​

OKX to Pay $500 Million After Guilty Plea for Crypto Crime

The OKX cryptocurrency exchange, one of the world’s largest, pleaded guilty on Monday to processing more than $1 trillion in transactions by US customers without a license and will pay more than $504 million in penalties.

The exchange, which allows users to make spot trades in more than 300 cryptocurrencies including Bitcoin and Ethereum, admitted in Manhattan federal court to a single felony count of operating an unlicensed money transmitting business.

US District Judge Katherine Polk Failla assessed the penalty in fines and forfeitures, following an agreement between US prosecutors and the exchange owner, the Seychelles-based Aux Cayes Fintech Co.

Bitcoin Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Monday was $357.81 million. The total net asset value of Bitcoin spot ETFs is $109.96 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 5.86%.

Source: SoSoValue

The Bitcoin spot ETF with the highest net outflow on Feb. 24 was Fidelity Wise Origin Bitcoin Fund (FBTC), with a net inflow of $246.96 million. Following that was Grayscale Bitcoin Trust (GBTC), with a net outflow of $59.5 million, according to SoSoValue.

Source: SoSoValue