Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

Bitcoin Drops Below $96,000 with a 0.3% Decrease in 24 Hours

Bitcoin has dropped below $96,000 and is now trading at $95,977, with a 0.3% decrease in 24 hours.

Next leg of the Bitcoin bull market is loading up, says Bernstein

The next phase of the Bitcoin bull market is taking shape, driven by institutional adoption, sovereign interest, and favourable regulatory developments, Bernstein said.

Bitcoin’s recent surge began with the approval and success of spot Bitcoin ETFs, followed by a political boost from the Trump administration’s pro-crypto stance. With ETF inflows exceeding $36 billion in the first year and Bitcoin reaching an all-time high of $106,000, Bernstein sees further upside ahead.

Potential establishment of a U.S. national Bitcoin reserve could drive the Bitcoin bull market, with sovereign wealth funds and institutional investors accelerating their Bitcoin exposure. Abu Dhabi’s Mubadala fund recently disclosed a $437 million Bitcoin ETF investment, while MicroStrategy has continued to expand its holdings, now controlling over 478,000 Bitcoin.

Elon Musk’s D.O.G.E. to Investigate SEC Despite Pro-Crypto Policy Shifts

Elon Musk’s D.O.G.E. is investigating the SEC, seeking input about “waste, fraud, and abuse” at the Commission. This may become an own goal for the crypto industry, which defeated Gary Gensler and turned the SEC into a useful ally.

Since Elon Musk’s Department of Government Efficiency (D.O.G.E.) first took off, it’s had a notable impact on the US regulatory apparatus. In addition to crypto-friendly experiments, Musk has been instituting mass layoffs at all layers of the federal government.

According to a recent post, D.O.G.E. is now taking aim at the SEC:

“D.O.G.E. is seeking help from the public! Please DM this account with insights on finding and fixing waste, fraud and abuse relating to the Securities and Exchange Commission,” the account claimed.

CZ refutes Binance sale rumors but open to minority stake offers over time

Binance founder and former CEO Changpeng ‘CZ’ Zhao denied speculation that the crypto exchange is looking for a buyer but acknowledged that the company may consider selling a minority stake to investors in the future.

CZ addressed the rumors in a social media post on Feb. 17 after speculators suggested the exchange was offloading assets before a potential sale. He called the speculation misinformation spread by a competitor in Asia.

He stated:

“Some lowly self-perceived competitor in Asia fudding about Binance (CEX) for sale.”

12 US states hold a total of $330M stake in Saylor’s Strategy: Analyst

Twelve states in North America have reported holding Strategy, formerly MicroStrategy, stock in their state pension funds or treasury as of the end of 2024, totaling $330 million. 

Retirement funds and treasuries in California, Florida, Wisconsin, and North Carolina have the most exposure to Strategy, observed Bitcoin analyst Julian Fahrer on Feb. 17. 

California’s teacher retirement fund has the largest holdings in Michael Saylor’s business intelligence software firm, with 285,785 shares worth around $83 million at the time of the Form 13F filing with the US Securities and Exchange Commission on Feb. 14.