Binance Buys $1B in Bitcoin, US Inflation Lower-Than-Expected, but BTC Price Still Suffers: Weekly Crypto Recap

Although bitcoin and most altcoins have recovered from the large losses charted on the finish of the earlier enterprise week, the previous seven days weren’t precisely optimistic for the asset class, because it stays miles from the This autumn 2025 peaks.

Before we study the developments that occurred in the previous week, let’s shortly recap the most recent crash that culminated on February 6 when BTC plunged to $60,000 for the primary time in nicely over a yr. Many altcoins collapsed by 20-30% every day, reaching new native lows.

Nevertheless, BTC bounced off on that day by $12,000 and tapped $72,000 in what grew to become one among its most spectacular single-day restoration makes an attempt. However, the predominant bearish pattern resumed quickly, and BTC was stopped and pushed right down to $68,000 throughout the weekend.

It spent the subsequent a number of days buying and selling sideways between that decrease boundary and $72,000. After the most recent rejection on the higher boundary, the bears initiated one other leg down, pushing the cryptocurrency south to $66,000 on Wednesday and $65,000 on Thursday.

The previous few hours have been barely extra optimistic for bitcoin, particularly for the reason that US CPI numbers for January got here out and showed that inflation has truly cooled off. BTC jumped to $67,600 but was stopped there and now trades inches above $66,000. This signifies that BTC now sits at roughly the identical spot as final week, but many alts have produced extra substantial volatility.

On the one hand, XRP, BNB, HYPE, and SOL are deep in the purple, but on the opposite, BCH, XMR, and HBAR have surged by as much as 9.5%.

Market Data

Market Cap: $2.37T | 24H Vol: $110B | BTC Dominance: 56.7%

BTC: $67,200 (-0.06%) | ETH: $1,970 (+1%) | XRP: $1.38 (-3.7%)

This Week’s Crypto Headlines You Can’t Miss

Binance Completes $1B SAFU Fund Shift to Bitcoin. The most vital information in phrases of BTC acquisition this week got here from Binance because the trade accomplished the conversion of its whole $1 billion SAFU fund to bitcoin. The firm bought a complete of 15,000 BTC in the span of only a few weeks.

BlackRock’s BUIDL Fund Hits Uniswap as UNI Jumped 40%. The largest decentralized trade partnered with Securitize to make BlackRock’s USD Institutional Digital Liquidity Fund accessible for buying and selling by way of UniswapX. The information despatched shockwaves by means of the UNI group, with the token surging by as much as 40% inside minutes.

Banks Take Hard Line on Stablecoin Yields as White House Talks Stall. Although the March 1 deadline is approaching quick, the crypto business and banks clashed once more over stablecoin rewards with out a clear settlement. No compromise was reached, said sources, but the session was described as “productive.”

Robinhood Enters Layer 2 Race With Public Testnet Launch of Robinhood Chain. The US-based buying and selling platform noted earlier this week that it has launched the general public testnet for Robinhood Chain, an Ethereum Layer 2 community constructed on Arbitrum, designed to speed up the event of tokenized real-world and digital belongings.

Miner Offloads $305M Bitcoin as Network Difficulty Sees Sharp Decline. The previous few weeks have been robust on miners as nicely, particularly in some areas as a consequence of extreme climate. One of the bigger entities in the sector, Cango, disclosed that it had bought over $300 million value of BTC amid rising strain and falling profitability metrics.

Robert Kiyosaki Says Bitcoin Is a Better Investment Than Gold – Here’s Why. The best-selling creator, who just lately got here below fireplace by the crypto group due to some controversial statements, believes bitcoin is a greater funding than gold. Although he would somewhat maintain each, if having to decide on, he would go for BTC as a consequence of its confirmed restricted provide.

Charts

This week, now we have a chart evaluation of Ethereum, Ripple, Cardano, Binance Coin, and Hyperliquid – click here for the complete price analysis.

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