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TL;DR

• BTC is down

• Bitcoin dominance is down

• Bitcoin $70K? ETF Sell-Off Hits Hard

• Strategy Buys $2B in Bitcoin, Expands Holdings

• Metaplanet, El Salvador Buy BTC Amid Price Dip

• Oklahoma Bitcoin Reserve Bill Moves to House Vote

• Three US Bitcoin Reserve Bills Fail Despite Trump’s Push

• Rezolve AI Plans $1B Bitcoin Treasury for Payments

• Core Scientific Expands Despite Q4 Loss

• MARA Warns of 2028 Halving Impact

• MARA Touts AI Plans After Q4 Surge

And much more!

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Bitcoin Price

Crypto is down this week, with BTC down by 11.1% and ETH down by 15.3%:

Bitcoin dominance has decreased over the week, starting from 58.1% to a high of 59.05% and ending at 57.6%. Investor sentiment, regulatory changes, technological advancements, and the overall growth of the cryptocurrency sector shape Bitcoin's market dominance. Its reputation as "digital gold" also enhances its position, making it a key player in the market.

It’s going to be interesting to see whether this trend will continue in the short term, as capital in crypto tends to flow initially to BTC and then further out on the risk-curve, starting with altcoins like ETH and then into mid- or low-cap coins.

Bitcoin’s price action remains volatile after a sharp sell-off saw BTC drop to a 2025 low of $78,300 before rebounding to an intra-day high of $85,120.

Despite the recovery, market analysts remain divided on whether Bitcoin has formed a bottom or if the recent bounce is a trap for overleveraged bulls. Traders now anticipate range-bound trading in the short term as the market establishes new support and resistance levels.

The Feb. 28 rebound to $85,000 initially sparked optimism among traders, but Bitcoin failed to secure a higher daily close, casting doubt on the sustainability of the rally. Data from TRDR.io revealed a strong spot bid on Coinbase when BTC dipped to $78,300. However, sustaining this momentum remains a key challenge.

Market analyst Magus expects Bitcoin to trade within a $72,000–$85,000 range in the coming weeks, indicating a period of price consolidation. He shared a chart on X illustrating his expectations, stating, “Expecting BTC to build a range like this now.”

Meanwhile, trader Horse pointed out that Bitcoin’s weekend price action could weaken further due to traders using BTC as a hedge against potential market-moving comments from former U.S. President Donald Trump. “I’m guessing that BTC returns over the weekends will continue to go more negative than they already are, as tradfi uses it to hedge for anything Trump says before Sunday futs open,” he said.

Despite the recent price drop, Bitcoin’s 29% decline from its all-time high of $110,000 is not unusual. Crypto trader Intern highlighted that 30% corrections are a common feature of Bitcoin bull markets and have historically presented strong buying opportunities. His analysis suggests that while volatility may persist, long-term investors should not be alarmed by the current downturn.

Wintermute trader Jake O echoed this sentiment, describing the current market conditions as a significant dislocation between sentiment and fundamentals. He compared the setup to August 2024, when Bitcoin briefly dipped below $50,000 due to mass liquidations before recovering. “For anyone with long-term conviction in the space, the current disconnect between positioning/sentiment vs fundamentals has never looked better,” he said.

A key development noted by HighStrike’s head of options and crypto trading, JJ, is that Coinbase spot bids were “filled” for the first time since Bitcoin’s September bottom at $52,000. This suggests an initial shift in market dynamics, with buyers stepping in at lower levels. However, it remains to be seen whether this will translate into sustained upside momentum.

From a technical perspective, Chartered Market Analyst Aksel Kibar described Bitcoin’s drop to $78,000 as a “sharp retest”, though he refrained from calling it a confirmed bottom.

Despite the recent rebound, Bitcoin’s daily Relative Strength Index (RSI) remains in deeply oversold territory, and the prevailing lower high and lower low candlestick formations signal caution. If Bitcoin fails to close above key resistance levels, the downtrend could persist in the near term.

Bitcoin’s recent price action suggests a period of choppy trading as the market stabilizes after a significant drawdown. Analysts point to a likely range between $72,000 and $85,000 in the short term, while historical data supports the idea that these corrections are normal in bull markets.

The presence of spot buying activity on Coinbase provides some optimism, but technical signals indicate that Bitcoin’s recovery is not yet confirmed. Traders should remain cautious as the market navigates potential headwinds.

Bitcoin (BTCUSD) Analysis:

As of February 28, 2025, Bitcoin (BTC) is trading at $80,184, down 5.69% for the day. The short-term outlook is bearish, with resistance at $92,300 and no clear support, indicating further downside risk. In the medium term, BTC remains weak after breaking below key support at $92,364, with the next major support at $70,000. The long-term trend is still positive, with BTC holding within a rising trend channel and key support at $72,000. A breakdown below this level could shift the outlook further bearish.

Expected Trading Ranges:

• Bitcoin (BTC): Support at $72,000; Resistance at $92,300

Market Outlook:

Bitcoin is range-bound between $72,000 and $85,000 after a 29% correction. While strong Coinbase bids offer support, the downtrend persists with lower highs. A retest of $78,000 is possible if momentum fades, but historically, such drawdowns present buying opportunities. A higher daily close is needed to confirm renewed strength.

BTC/ETH ratio has seen an increase:

Over the last six days, the BTC to ETH exchange rate has generally increased, rising from 34.92 ETH on Feb 22 to 37.97 ETH on Feb 28, marking an overall 8.7% increase. Despite a brief dip on Feb 25 (-2.20%), the trend remained upward, with notable gains on Feb 24 (6.43%) and Feb 28 (2.65%). This suggests that Bitcoin has been gaining strength against Ethereum over the past week.

Financial News

Bitcoin $70K? ETF Sell-Off Hits Hard

BitMEX co-founder Arthur Hayes warns Bitcoin could drop to $70,000 as hedge funds unwind ETF arbitrage trades. Many investors long on spot BTC ETFs while shorting CME futures may start selling IBIT and repurchasing futures as yields shrink. With ETF outflows accelerating—$517 million exiting on Feb. 24—selling pressure could trigger a downward spiral.

Markus Thielen of 10x Research notes that much of ETF demand comes from hedge funds, not long-term holders. As funds exit, Bitcoin’s price could face increased volatility, with ETF outflows from BlackRock, Fidelity, and others compounding the risk.

Strategy Buys $2B in Bitcoin, Expands Holdings

Strategy has acquired 20,356 BTC for $2 billion at an average price of $97,514, bringing its total holdings to 499,096 BTC, now worth over $47 billion. The purchase was funded through a $2 billion zero-coupon convertible note offering, with an option to issue an additional $300 million in notes.

With this latest acquisition, Strategy now controls 2.3% of Bitcoin’s total supply, maintaining a cumulative average purchase price of $66,357 per BTC. This move reinforces its long-term bullish stance on Bitcoin as a key corporate treasury asset.

Metaplanet, El Salvador Buy BTC Amid Price Dip

Metaplanet and El Salvador added to their Bitcoin reserves before a 5% drop in BTC’s price on Feb. 25. Metaplanet purchased 135 BTC for $13 million at $96,185 per BTC, bringing its total to 2,225 BTC. El Salvador bought 7 BTC at around $94,050, increasing its holdings to 6,088 BTC.

Bitcoin fell below $91,000 before rebounding to $92,260, while crypto sentiment hit a five-month low. Meanwhile, spot Bitcoin ETFs saw $357.8 million in outflows, with Fidelity and BlackRock experiencing significant withdrawals. Despite market fluctuations, Metaplanet and El Salvador continue to see Bitcoin as a strategic asset.

Bitcoin’s Worst February Since Mt. Gox

Bitcoin has dropped 21% this February, marking its second-worst February on record after 2014’s 30% decline during the Mt. Gox collapse. The downturn is driven by weak macroeconomic conditions, declining institutional interest, and a lack of bullish catalysts. U.S. consumer confidence has fallen, further dampening sentiment.

Additionally, over $2.9 billion has exited institutional crypto investments, reflecting a broader market shift toward risk aversion. Bitcoin is currently hovering around $80,000, with investors watching for signs of stabilization or further downside pressure as February closes.

Bitcoin Drops Below $91K, Faces Critical Market Test

Bitcoin fell under $91,000, marking its lowest level since November, as Bitfinex analysts warn of a "critical juncture" following 90 days of range-bound trading. The lack of momentum has led to a market contraction, with over $961 million in liquidations, mostly from long bets.

Traditional markets have also stalled, with the S&P 500 and Nasdaq dropping 2.3% and 4%, respectively. Institutional Bitcoin demand has weakened, with ETFs seeing $552.5 million in outflows. Economic concerns, including falling consumer confidence and Trump’s proposed tariffs, are adding to inflationary pressures, further dampening risk asset sentiment.

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Adoption News

Oklahoma Bitcoin Reserve Bill Moves to House Vote

Oklahoma is one step closer to becoming the first U.S. state to invest in Bitcoin as public funds. The Strategic Bitcoin Reserve Act (HB 1203) cleared the House Government Oversight Committee with a 12-2 vote and now moves to the House floor.

If passed, it would allow the state treasury to allocate up to 10% of public funds into digital assets with a market cap above $500 million—currently, only Bitcoin qualifies. Supporters argue Bitcoin can hedge against inflation, while critics cite volatility risks. A final House vote will determine whether Oklahoma cements its pro-Bitcoin stance.

Three US Bitcoin Reserve Bills Fail Despite Trump’s Push

Three state bills proposing Bitcoin reserves in Montana, North Dakota, and Wyoming were voted down, with lawmakers citing risks and speculation concerns. Montana’s bill lost 41-59, North Dakota’s was defeated 57-32, and Wyoming’s saw seven out of nine representatives oppose it.

Despite Trump’s pro-crypto stance, state-level Bitcoin reserve initiatives have struggled. However, Utah and Arizona are moving forward with similar proposals, with Utah’s nearing approval and Arizona’s bill allowing up to 10% of state funds in Bitcoin advancing. While Trump aims to make the US a crypto leader, state-level support remains inconsistent.

Rezolve AI Plans $1B Bitcoin Treasury for Payments

Rezolve AI, a Nasdaq-listed AI firm, is building a $1 billion Bitcoin treasury, starting with $100 million. The initiative supports its AI-driven payment platform, allowing merchants to accept Bitcoin and Tether with instant fiat conversion and no merchant fees. CEO Daniel M. Wagner sees Bitcoin as essential to bridging traditional commerce and crypto.

Despite Bitcoin’s dip below $90,000, Rezolve AI remains committed to its long-term vision. The move follows a growing trend of corporations adopting Bitcoin as a hedge against inflation and economic uncertainty, aiming to reshape the future of digital payments.

MetaMask Expands to BTC, SOL, Plans Gas-Free Future

MetaMask is set to support Bitcoin and Solana, marking its first expansion beyond Ethereum Virtual Machine chains. Solana integration is expected in May, with Bitcoin following in Q3. The wallet aims to eliminate gas fees, starting with gas-included swaps.

Other updates include a unified asset view, batched transactions (ERC-5792), and a shift to smart-contract-based accounts. MetaMask also introduced a crypto card leveraging Mastercard’s network. These changes come as MetaMask seeks to enhance usability and regain market share from competitors like Phantom and Rabby.

Trump’s White House Crypto Summit Set for March 7

President Trump will host the first White House Crypto Summit on March 7, focusing on regulations, stablecoins, and Bitcoin reserve legislation. Led by crypto czar David Sacks, the event will gather industry leaders and policymakers to shape U.S. crypto policies.

Stablecoin oversight and Bitcoin reserves remain key topics, with at least 24 states considering related legislation. Trump’s administration aims to establish a clear legal framework for the industry, reinforcing the U.S. as a blockchain innovation hub. The summit’s outcomes could impact future regulations, though political shifts may influence long-term policy direction.

Mining News

Core Scientific Expands Despite Q4 Loss

Core Scientific reported a $265 million Q4 loss due to a non-cash adjustment but announced a $1.2 billion data center expansion with AI firm CoreWeave. The partnership could generate over $10 billion in revenue, positioning Core Scientific as a leader in high-performance computing. The Texas-based project aims to build one of North America’s largest GPU supercomputers.

The company’s stock rose 12.29% following the news. Bitcoin miners, including Hive Digital and Hut 8, are increasingly pivoting toward AI hosting. The move signals a broader industry shift as mining firms leverage their infrastructure for artificial intelligence workloads.

MARA Warns of 2028 Halving Impact

MARA Holdings cautioned that Bitcoin miners relying on grid-attached power will struggle post-2028 halving due to rising energy costs. To remain competitive, miners must secure low-cost energy, vertically integrate, and expand into AI and high-performance computing (HPC). MARA has invested in a Texas wind farm and data center infrastructure to reduce costs and diversify revenue.

The firm’s Q4 sales of $214.4 million exceeded estimates, boosting its stock by 8% despite Bitcoin’s 4.2% drop. The industry faces a reckoning, with only the most adaptive miners likely to survive the next halving event.

MARA Touts AI Plans After Q4 Surge

MARA Holdings reported a record $214.4 million in Q4 revenue, exceeding estimates by 16.5%, and added 18,146 BTC, bringing its total to 44,893. The firm increased its hashrate to 53.2 EH/s, expanded energy capacity by 300%, and launched micro data centers to cut grid reliance.

MARA sees AI infrastructure as a key growth area, focusing on AI inferencing rather than training. It compares its strategy to Cisco’s role in the internet boom. MARA’s stock rose 5.9% post-earnings as it positions itself for AI’s next wave while strengthening its Bitcoin mining operations.

Bitcoin Miners Pivot to AI, Chip Sales

Bitcoin miners are exploring AI computing and chip sales to offset declining BTC mining revenues ahead of the April 2024 halving. Riot, Marathon, Bitdeer, and Core Scientific are expanding into high-performance computing and ASIC chip sales. Analysts see strong potential in Bitdeer’s ASIC business and Riot’s AI shift.

Bitdeer plans a $100M power plant and data center, while Marathon aims to cut costs through expansion. With surging AI demand, miners are well-positioned to capitalize on energy-intensive AI workloads. Riot, under investor pressure, is reviewing AI opportunities, signaling a broader industry shift beyond Bitcoin mining.

Bitcoin Mining Difficulty Drops, But Rebound Expected

Bitcoin mining difficulty fell from 114T to 110.5T due to BTC’s price dip and high energy costs amid a U.S. winter storm. Lower difficulty briefly benefits miners, but BTC’s price drop outweighs gains. Experts expect difficulty to rise again as North American miners expand operations.

The network’s overall security remains strong, with difficulty adjusting every two weeks. While the temporary drop provides short-term relief, increasing mining activity will likely push difficulty higher soon, maintaining the long-term trend of growing network strength.

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