Bitcoin Still King During Uncertainty
With numerous bullish developments announced this week, the markets are still uncertain. But the number one rule in crypto still holds true...
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Hey there, Crypto Crusaders!
Welcome to The Hodl Report, where the crypto news is BIGLY, the insights are just TREMENDOUS and the gains we make are gonna be YUGE. 👱🏛️
This week we cover:
Market Moves – Moon or meh? 📈
Bullish Buzz – This week’s biggest wins! 🔥
Key Headlines – What actually matters. 📰
Meme Madness – Because crypto is comedy. 😂
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As usual, we kicked off the week with a good ol’ dip. 📉
This week, courtesy of tariffs and leverage unwinding, leading to the market collectively faceplanting.
But don’t worry, we’ve clawed our way back… sort of.
A refresher on lesson #1 in crypto trading, here it is:
👑 Bitcoin is King 👑
For the past few weeks, Bitcoin dominance has been making its way up to over 60%, while the total crypto market cap drifts down dangerously close to $3T.
Translation?
💀 Altcoins = REKT. 💀
Unless your bags are packed with BTC (or maybe a handful of other top dogs), you're probably staring at your portfolio like it's a failed NFT project.
So what do we need now?
🔥 Alt Season. 🔥
Everyone’s praying for it, calling for it, manifesting it - but right now, we’re stuck in a macro-fueled waiting game. With Trump & Co. plotting their next economic moves (including some mystery crypto plans), uncertainty is running the show.
Investors are hesitant, risk-on assets (like crypto) are in limbo, and until we get some clarity on the Big 3 Macro Bosses (growth, liquidity, and inflation), expect Bitcoin to keep dominating while everything else crab-walks sideways.
That said, this week did bring some bullish news… just not enough to push markets out of their existential crisis.
Bullish Headlines from Team Trump & Friends this Week: ⬇️
Eric Trump declares it’s a great time to buy/hold Bitcoin/Ethereum. That’s right - forget Bloomberg analysts, we’ve got the Trump family investment advisors now.
Trump Media is filing crypto trademarks in Ethereum’s playground. Because why just run a media empire when you can slap your name on some blockchain action too?
Pro-crypto politicians now hold a majority in Congress. That means less regulation FUD, more innovation, and - dare we say it - actual progress?
Crypto & AI Czar David Sacks held a press conference dripping in bullish energy. He doubled down on the importance of the U.S. leading the charge in digital assets, saying:
“I look forward to working with each of you in creating a golden age in digital assets.”
The SEC is officially backing off. Yep, the same agency that’s been running at crypto with a flamethrower is now pivoting - reassigning 50 of its “let’s sue everything” lawyers to other tasks. Maybe they’ll take up knitting?
Bitcoin Reserve bills are making their way through multiple state legislatures. Utah is leading the charge, officially passing its House bill just hours ago. Who knew the Beehive State would be first in line for a Bitcoin piggy bank?
FTX is finally set to start repaying victims on February 18th… in USD. Now, let’s be real - what do you think a bunch of crypto-deprived traders are gonna do the second they get that sweet, sweet fiat? 🚀
TLDR: The tides might be turning. Regulators are stepping back, politicians are stepping up, and crypto’s getting a big league boost from Washington.
Now all we need is some liquidity and a little hopium, and maybe - just maybe - that alt season we’ve all been begging for will arrive.
And if none of that gets your bullish juices flowing, maybe a little history lesson will, because February has a track record of treating Bitcoin like its favorite child.
Historically, this month has been a solid one for crypto returns (or at least for Bitcoin, because let’s be honest, altcoins are still out here fighting for their lives)
Hold tight, degens. It’s getting interesting.🔥
Hodl Headlines
The Week’s Most Interesting News
Standard Chartered Predicts Bitcoin Price of $500,000 by 2028: In a bold forecast, Standard Chartered Bank predicts that Bitcoin could reach a price of $500,000 by 2028. The bank cites increasing adoption and limited supply as key drivers for this potential surge.
MicroStrategy Rebrands and Reports Accelerated Bitcoin Purchases: MicroStrategy has unveiled a new corporate identity and announced an acceleration in its Bitcoin acquisitions during the fourth quarter. The company remains a prominent institutional investor in the cryptocurrency space.
SEC Forms Crypto Task Force: The Securities and Exchange Commission has established a dedicated Crypto Task Force to oversee and regulate the burgeoning digital assets market. This move underscores the agency's commitment to ensuring compliance and protecting investors in the crypto space.
FTX to Begin Creditor Repayments on February 18: Embattled crypto exchange FTX is set to commence repayments to its creditors starting February 18. Initial distributions will prioritize creditors with claims under $50,000, offering full reimbursement plus interest.
Trump-Backed World Liberty Financial Engages in Token Swaps: World Liberty Financial, supported by President Donald Trump, is actively pursuing token swap agreements with various crypto projects. The firm proposes mutual investments of at least $10 million in each other's tokens to foster collaborative growth.
SBF's Parents Seek Presidential Pardon: The parents of Sam Bankman-Fried, the disgraced founder of FTX, are reportedly exploring avenues to secure a presidential pardon for their son. This development comes amid ongoing legal challenges following FTX's collapse.
Utah Poised to Establish Bitcoin Reserve: Utah is on track to become the first U.S. state to establish a Bitcoin reserve, with legislation progressing swiftly through the state's government. The move reflects a growing trend of governmental entities exploring cryptocurrency holdings.
Anti-Crypto Senator Bob Menendez Sentenced to 11 Years for Bribery: Former U.S. Senator Bob Menendez, known for his anti-crypto stance, has been sentenced to 11 years in prison on bribery charges. Menendez had previously criticized Bitcoin as a tool for criminals.
Big thanks for making it to the end of this week’s Hodl Report! 👊
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Happy Friday!
Disclaimer: The content from Hodl Report should not be taken as trading, investment or financial advice or solicitation to buy or sell any assets. This newsletter is for informational and educational purposes only. Please be careful out there and DYOR (do your own research).