What to know:

Crypto Daybook Americas brings you insights into the recent activities in cryptocurrency markets. Look out for the newsletter arriving every morning to kickstart your day with key information.

Key Market Insights

Bitcoin’s Volatility
Bitcoin’s recent price movements have raised questions among investors. The cryptocurrency experienced its steepest three-day decline since the FTX collapse in 2022, falling 25% below its all-time high made in January. Despite the pro-crypto stance of the current administration led by President Donald Trump, investor sentiment remains shaky following the largest crypto hack ever recorded.

This market correction aligns with historical trends where Bitcoin has faced drops of up to 35% during bull-market corrections. Current indicators suggest no drastic changes in the overall market structure, implying this behavior is relatively common.

Upcoming Events

• Crypto Launches:
  • Solana-based L2 Sonic SVM mainnet on February 27.
  • Spot trading on Arkham Exchange goes live in 17 U.S. states by March 1.
• Economic Data Releases:
  • Brazil’s January employment stats on February 27, estimated unemployment at 6.6%.
  • U.S. GDP data for Q4 is expected on February 27 with a growth estimate of 2.3%.

Noteworthy Market Movements

• ** BTC:** Currently at $86,735.19, down 2.12%.
• ETH: Trading at $2,378.49, a decrease of 3.49% over 24 hours.

Insights from Technical Analysis

BTC’s price chart indicates no support between $74,000 and $90,000, suggesting potential volatility ahead. Continuous monitoring of market conditions is recommended as trader behavior shifts.