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Crypto Market Dips on $600M Liquidation, Bitdeer BTC Exit, and Regulatory Moves |
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February 24, 2026 |
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Today’s Setup
Crypto market reset amid macro pressure, miner capitulation, and regulatory advances
Liquidation: Bitcoin and Ethereum lead a $600 million long liquidation flush driven by macro tariff fears and whale sell pressure. Miner moves: Bitdeer fully exits bitcoin holdings amid mining margin pressure, pivoting to AI and data centers. Regulation: Crypto.com receives conditional OCC approval for a national trust bank charter, a key step toward federal oversight.
Watch: Bitcoin price volatility and technical patterns amid institutional ETF outflows and token unlocks.
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Top Stories
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Bitcoin and Ethereum lead $600M liquidation amid market risk-off and tariff fears
Bitcoin and Ethereum prices fell sharply as a $600 million long liquidation hit major exchanges, fueled by leveraged longs unwinding amid U.S. tariff announcements and macro instability. Whale Bitcoin deposits to Binance surged to a 14-month high, signaling rising sell pressure.
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Bitdeer Sells Entire Bitcoin Treasury, Holds Zero BTC Amid Market Pressure
Bitdeer Technologies liquidated its entire bitcoin treasury by selling 943.1 BTC from reserves and newly mined coins, leaving a zero BTC balance amid tightening mining economics. The company plans to focus on data center and AI development while raising capital through convertible notes and equity.
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Crypto.com receives conditional approval for national trust bank charter
Crypto.com secured conditional approval from the U.S. Office of the Comptroller of the Currency to establish a national trust bank, enabling federally regulated digital-asset services including institutional custody, staking, and trade settlements. Full approval requires meeting regulatory and operational requirements.
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Bitcoin bears weigh heavy with price testing major supports amid ETF outflows
Bitcoin price slipped below $65,650 support and trades near $64,600, facing bearish momentum fueled by miner capitulation and ETF institutional outflows totaling $4 billion over five weeks. Prediction markets price a 75% chance of a further dip below $55,000 despite rising retail search interest.
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Step Finance and SolanaFloor shut down after $27M hack in weak market
Step Finance and SolanaFloor announced shutdowns following a $27 million treasury hack in January. Step Finance plans a buyback and token redemption for holders but failed to secure funding or acquisition. The broader crypto market cap dropped by $110 billion amid the downturn.
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• Arizona legislature advances a bill to establish a Digital Assets Strategic Reserve Fund including BTC, XRP, and Digibyte.
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