Trump’s Tax Plans Pushed Bitcoin Under $91,000
US President Donald Trump’s approval of tariffs on Canada and Mexico has caused a sharp sell-off in Bitcoin and crypto markets. Bitcoin fell 5% to $90,850, reaching its lowest level since February 2. Major altcoins such as Ethereum, XRP, Solana and Cardano also lost over 10%.
With this sharp decline, $800 million worth of leveraged positions were liquidated in 24 hours. Analysts say that uncertainties in Trump’s trade policies could increase volatility in the markets. In addition to the tariffs that will go into effect on March 4, possible retaliatory decisions by Canada and Mexico could also increase pressure on the markets.
SEC Closes Robinhood Crypto Investigation
The U.S. Securities and Exchange Commission (SEC) has closed its investigation into Robinhood Crypto and announced that no sanctions will be imposed. The SEC had opened an investigation into Robinhood Crypto for allegedly violating securities laws. The SEC’s Enforcement Division notified Robinhood on February 21 that the investigation was complete. Robinhood’s compliance officer Dan Gallagher stated that this investigation should never have been opened and emphasized that their platform has always complied with federal securities laws.
This development is being interpreted as a signal of change in the SEC’s approach to crypto. The new Crypto Task Force, led by Hester Peirce, aims to clarify the regulatory framework in the sector. It is also suggested that the SEC’s lawsuits against companies such as Coinbase and Ripple may be withdrawn.
SEC Discusses Crypto Regulations with Michael Saylor and CCI
The U.S. Securities and Exchange Commission’s (SEC) Crypto Task Force held an important meeting with Michael Saylor, the Crypto Council for Innovation (CCI) and MITRE Corporation on crypto asset classification, staking regulations and stablecoin regulation. During the meeting, the integration of Bitcoin into the U.S. economy, whether staking services are securities and regulatory deficiencies in the DeFi ecosystem were discussed.
While CCI emphasized that staking services should not be considered securities, MITRE presented comprehensive research on stablecoin regulations, centralization risks in DeFi and security measures for smart contracts. Saylor argued that Bitcoin could strengthen the US dollar and contribute to the reduction of the national debt. The meeting was concluded with the goal of creating a regulatory framework that supports innovation while increasing investor protection.
SEC Reviewing Grayscale’s Spot Cardano ETF Application
The U.S. Securities and Exchange Commission (SEC) announced that it has reviewed Grayscale’s spot Cardano ETF application. NYSE Arca submitted a proposal to list and trade Grayscale Cardano Trust on the exchange on February 10. The SEC’s acceptance of the application on February 24 indicates that the decision process has begun.
This development is seen as part of the accelerated crypto ETF applications under the new SEC administration. Applications for Cboe’s XRP ETF, Grayscale’s XRP and Dogecoin ETFs, and BlackRock’s Bitcoin ETF were also accepted during the same period. The new ETF will offer investors the opportunity to invest in ADA without directly owning it, via an index that tracks the price of Cardano.
MicroStrategy Increases Bitcoin Stock to Near 500,000 BTC
MicroStrategy has purchased an additional 20,356 BTC using the proceeds from its recent $2 billion 0% bond issuance. The company made the purchase at an average price of $97,514, bringing its total Bitcoin holdings to 499,096 BTC. Thus, the total cost of MicroStrategy’s Bitcoin investments reached $ 33.1 billion, and the current market value reached $ 47.7 billion.
As the aggressive Bitcoin strategy of the company led by Michael Saylor continues, this large purchase brought a slight increase to MSTR shares.
El Salvador Resumes Bitcoin Purchases
El Salvador resumed BTC purchases after a week-long hiatus by purchasing 7 Bitcoins (worth $ 661,000). The country’s total Bitcoin assets reached 6,088 BTC ($ 558 million). This purchase took place after El Salvador revised its Bitcoin policies within the scope of its agreement with the International Monetary Fund (IMF).
The 40-month agreement with the IMF will provide the country with $ 3.5 billion in financial support. In accordance with the agreement, El Salvador made BTC acceptance voluntary for the private sector by amending its Bitcoin law. The latest purchase came after BTC fell below $95,000 following Trump’s tariff statements, showing that the country remains committed to its Bitcoin strategy.
Bitcoin Shook with $571 Million Outflow, XRP Stood Out with $38 Million Inflow
Global crypto investment products experienced a second consecutive week of capital outflows due to concerns about the US’s trade tariffs and inflation policies. According to a CoinShares report, there was a total of $924 million in investor outflows in the last two weeks. Bitcoin took the biggest hit with an outflow of $571 million last week, while short Bitcoin products showed that investors were trying to protect against downside risks with an inflow of $2.8 million.
While US-based funds led this decline with an outflow of $560 million, Germany and Switzerland stood out positively with an inflow of $46 million. Among altcoins, XRP showed the strongest performance by attracting $38.3 million in investments.
DekaBank Started Offering Crypto Services to Corporate Clients
DekaBank, one of Germany’s leading investment banks, has launched crypto trading and custody services for corporate clients. The bank, which manages 377 billion euros in assets, received a crypto custody license from BaFin (German Federal Financial Supervisory Authority) to offer this service.
The Frankfurt-based bank emphasized that it prioritizes security and regulatory compliance by operating under the supervision of the European Central Bank. Other major financial institutions in Germany are taking similar steps. DZ Bank plans to offer crypto services for individual customers by mid-2025.
Ethereum’s Pectra Upgrade Begins on Holesky Testnet
Ethereum’s Pectra upgrade is going live on the Holesky testnet today, bringing new validator rewards, account abstraction, and layer-2 scaling improvements. The Ethereum Foundation announced that the update will be rolled out to the Sepolia testnet on March 5th, with a mainnet activation date to follow if successful. Pectra will expand account abstraction with EIP-3074, giving users access to features like sponsored gas payments and batch transaction executions.
In addition, the Pectra upgrade will increase Ethereum’s blob capacity per block by 50%, allowing it to process six blobs instead of three. This development will help layer-2 networks further reduce transaction costs.
Metaplanet Purchases Bitcoin Worth 1.9 Billion Yen
Tokyo Stock Exchange-listed Metaplanet Inc. increased its Bitcoin reserves by 135 BTC, bringing its total assets to 2,235 BTC. This purchase, which was carried out within the scope of the company’s Bitcoin Treasury Operations, was completed with an investment of 1.939 billion yen and an average price of 14,360,449 yen.
Metaplanet stated that this strategic investment aims to increase shareholder value and strengthen BTC returns. The company continues to expand its Bitcoin holdings to improve its fully diluted EPS growth performance.
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BITCOIN (BTC)
BTC is priced at $91,900 as of the morning hours with a 0.41% gain in value. The Bitcoin price broke the important support area at 94,088 and fell to 91,895. This breakout shows that selling pressure is increasing in the market. If the price cannot hold at this level, the 88,722 support can be tested if the downward movement continues. However, if the price shows a recovery at 91,800 – 92,000 levels, the 94,088 level should be followed as the first resistance point. If this area is recovered, a recovery up to the 95,500 – 96,000 region may be possible.
ETHEREUM (ETH)
ETH is priced at $ 2504 as of the morning hours with a 0.32% loss in value. Ethereum has declined to the critical support level at 2,517. The failure of the price’s previous reaction from 2,688 and the continuing selling pressure increase the risk of breaking the support level. If the 2,517 level is broken downwards, the decline is likely to continue and deepen to the 2,450 – 2,400 region. On the other hand, if there is a buying reaction from this zone, the first resistance point will be 2,688, followed by 2,860. However, since the price is currently under selling pressure, maintaining the 2.517 level is very critical.
RIPPLE (XRP)
XRP is priced at $2.28 as of the morning hours, losing 0.25%. The XRP price has fallen to the 0 level and the previous low at 2,270. This level can work as a strong support point, but the price’s persistence at this level will be critical. If there is a reaction purchase from this region, the first target may be the 2,524 Fibonacci 0.5 level, then the 2,777 region. However, if the selling pressure continues and the 2,270 level is broken, the decline may deepen even further and the price may fall towards the 2,100 – 2,000 range. For now, reaction purchases should be followed in this support area.
AVALANCHE (AVAX)
AVAX is trading at $21.83 levels with a 0.27% loss in value as of the morning hours. The price fell below the 22.92 level, which is the 0 level, and fell to 21.86. This situation shows that the selling pressure continues and the reaction of the price in this area will be quite critical in the short term. If the 22.92 level breaks upwards again, the 25.07 region can be followed as the first resistance. If the upward movement gains strength, the 27.22 level stands out as the main resistance. However, if the price stays below 21.86, selling pressure may increase and 20.00 – 19.00 levels may be on the agenda for AVAX.
SOLANA (SOL)
SOL is priced at $ 140.37 as of the morning hours with a 1.06% loss in value. The price broke the 145.60 level, which previously worked as support, and fell to 140.42. This decline shows that the selling pressure continues and the buyers have not yet reacted strongly. In the short term, if the price remains below the 145.60 level, the probability of the decline continuing may increase and a decline towards the 130.00 – 125.00 regions may be experienced. However, if the price reacts from these levels, the first resistance zone can be followed at 145.60. If the rise continues, a recovery may occur up to the 160.00 – 165.00 zone.
