By Omkar Godbole (All times ET unless otherwise noted)
Traders chasing alpha might want to take a look at US-listed bitcoin. mining stocks. Some of these companies are emerging, boldly decoupling themselves from the cryptocurrency’s volatile price action.
Terawulf (WULF) shares have gained 31% this month, even as the spot price of bitcoin has fallen nearly 17%. Cipher Digital (CIFR) and HUT 8 (HUT) have gained 8% and 6%, respectively, while Core Scientific (CORZ) is broadly stable.
According to Markus Thielen, founder of 10x Research, these stocks are among the most shorted by hedge funds and could gain due to a positive economic situation.
“With long-term energy contracts locked in at attractive rates, these companies possess a strategic advantage that extends far beyond pure Bitcoin mining,” Thielen said in a note to clients.
He added that capital is increasingly flowing to structural winners, while traditional operators risk being left behind.
Bitcoin has rebounded to over $65,000, likely following gains in futures linked to the Nasdaq 100 index. The advance came despite President Donald Trump’s failure to mention cryptocurrencies in his State of the Union address.
Spot bitcoin ETFs recorded $257.7 million in net inflows on Tuesday, the most since early February, according to data from SoSoValue. Analysts said that capital inflows must be sustained in the coming days to spark a real market recovery after this decline.
In terms of price, bitcoin is trading near well-watched pivots, said Vikram Subburaj, CEO of Mumbai-based Giottus.com.
“A sustained break below $60,000 is widely considered a trigger to the downside, with ~$57,500 cited as the next notable level. Conversely, recovering between $72,000 and $75,000 would be a clearer sign that risk appetite is returning,” Subburaj said in an email.
In traditional markets, the dollar index reversed early losses, putting pressure on dollar-denominated assets such as gold and bitcoin. Oil prices fell as U.S. reserves rose, although the decline remained muted amid the risk of a potential military conflict between the United States and Iran. Stay alert.
Read more: For an analysis of current activity in altcoins and derivatives, see Crypto Markets Today
What to watch
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Crypto
- February 25, 1:00 p.m.: SwissBorg will host its “biggest keynote yet.”
- February 25: Sandbox season 7 begins.
- Macro
- February 25, 4:30 pm: US Federal Reserve balance sheet for the week ending February 25 (previous: $6.61 trillion)
- Earnings (Estimates based on FactSet data)
- Feb 25: Circle (CRCL), premarket, $0.16
- Feb 25: Core Scientific (CORZ), post-market, -$0.18
- February 25: MARA Holdings (MARA), post-market, -$0.11
- February 25: Cabin 8 (HUT), pre-market, -$0.13
- February 25: NVIDIA (NVDA), post-market, $1.50
symbolic events
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
- Governance votes and calls
- February 25: EigenCloud to host a livestream with Puffer Finance on “Pre-confirmations and the future of rollups”
- Sandbox DAO is voting to pause operations and transfer control to the project team to realign with “The Sandbox 3.0.” The proposal currently has the support of 80% of voters. Voting ends on February 25.
- Decentraland DAO is voting to create a customizable “Unexpected Lottery Scene” template for landowners. Voting ends on February 25.
- Unlock
- February 25 – Humanity (H) will unlock 4.37% of its circulating supply worth $17.71 million.
- Token releases
Conferences
For a more complete list of this week’s events, check out CoinDesk’s “Crypto Week Ahead.”
Market movements
- BTC is up 2.37% since 4 pm ET on Tuesday to $65,564.62 (24 hours: +3.55%)
- ETH is up 3.31% to $1,915.35 (24 hours: +4.89%)
- CoinDesk 20 rose 2.97% to 1,901.09 (24 hours: +4.17%)
- Ether CESR Composite Staking Rate Up 2 Basis Points to 2.83%
- BTC funding rate is at -0.0007% (-0.7643% annualized) on Binance
- DXY remains unchanged at 97.82
- Gold futures rise 0.58% to $5,206.50
- Silver futures rise 3.82% to $91.50
- The Nikkei 225 closed up 2.20% at 58,583.12
- Hang Seng closed up 0.66% at 26,765.72
- The FTSE rises 0.79% to 10,764.79
- The Euro Stoxx 50 rises 0.5% to 6,147.32
- The DJIA closed Tuesday up 0.76% at 49,174.50
- The S&P 500 closed up 0.77% at 6,890.07
- Nasdaq Composite closed up 1.04% at 22,863.68
- S&P/TSX Composite closed up 0.57% at 33,970.38
- The S&P 40 Latin America closed with an increase of 1.53% to 3,800.72
- The 10-year US Treasury rate rises 2.1 basis points to 4.054%
- E-mini S&P 500 futures rise 0.11% to 6,911.25
- E-mini Nasdaq-100 futures rise 0.15% to 25,066.25
- E-mini Dow Jones Industrial Average index futures unchanged at 49,277.00
Bitcoin Statistics
- BTC dominance: 58.52% (+0.13%)
- Ether-bitcoin ratio: 0.02917 (0.9%)
- Hashrate (seven-day moving average): 1,034 EH/s
- Hashprice (spot): $28.69
- Total fees: 2.7 BTC / $171,903
- CME Futures Open Interest: 114,890 BTC
- BTC priced in gold: 12.6 oz.
- BTC market capitalization against gold: 4.38%
Technical analysis
- The chart shows the daily variations of the price of solana (SOL) in candlestick format.
- The decline from the September highs could be described as a staggered decline, where prices fall, then move sideways in consolidation, and then resume selling.
- Lately, the price has been consolidating between approximately $75 and $91. A move below the lower end of the range would imply a resumption of the broader downtrend, which could lead to a deeper decline.
Crypto Stocks
- Coinbase Global (COIN): closed Tuesday at $162.03 (+1.12%), +2.14% at $165.49 in premarket
- Circle Internet (CRCL): closed at $61.37 (+0.33%), +16% to $71.00
- Galaxy Digital (GLXY): closed at $21.54 (+5.90%)
- Bullish (BLSH): closed at $30.76 (+0.42%), -1.63% at $30.26
- MARA Holdings (MARA): closed at $8.05 (+2.16%), +1.61% to $8.18
- Riot Platforms (RIOT): Closed at $16.50 (+5.43%), +1.94% at $16.82
- Core Scientific (CORZ): closed at $17.87 (+5.80%), +0.78% at $18.01
- CleanSpark (CLSK): closed at $10.35 (+5.40%), +1.93% at $10.55
- CoinShares Valkyrie Bitcoin Miners ETF (WGMI): closed at $42.71 (+7.42%)
- Exodus Movement (EXOD): closed at $9.76 (+2.20%)
Crypto treasury companies
- Strategy (MSTR): closed at $124.61 (+0.73%), +2.51% at $127.74
- Strive (ASST): closed at $7.16 (-2.65%), +0.35% to $7.19
- SharpLink Gaming (SBET): closed at $6.55 (+0.92%), +2.90% to $6.74
- Upexi (UPXI): closed at $0.61 (+7.61%)
- Lite Strategy (LITS): closed at $1.11 (+3.74%)
ETF Flows
BTC Spot ETF
- Daily net flows: $257.7 million
- Accumulated net flows: $54.05 billion
- Total BTC holdings ~1.26 million
ETH Spot ETF
- Daily net flows: $9.2 million
- Accumulated net flows: 11,510 million dollars
- Total ETH holdings ~5.64 million
Source: Farside Investors
