🪙 Mike McGlone softens Bitcoin downside target to $28,000 after backlash over $10,000 call

Market analysts said the extreme downside scenario risked influencing real capital flows, prompting a heated public debate over Bitcoin’s macro outlook.

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🔥 CZ: "Crypto never needed a bailout, never will".

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⚡️ Ripple CEO Brad Garlinghouse says there is now a 90% chance the Clarity Act passes by the end of April

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❕ 'Bitcoin going to zero' Google searches rise with crypto sentiment in the dumps

Google data shows that search queries about Bitcoin's demise have reached their highest marks since 2022.

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💎 25 most decentralized networks by Nakamoto Coefficient

The TON blockchain is in the top 3 and ranks third.

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🔥 Whale Alert: 1,511,243 SOL (~$125,662,950) stake unlocked at unknown wallet

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❕ Glassnode: US Spot Bitcoin ETF balances see largest cycle drawdown of ~100.3k BTC since October ATH amid institutional de-risking

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🔥 Today:

• GDP + Core PCE — 13:30 UTC
• PMI (Manufacturing and Services) — 14:45 UTC
• Supreme Court decision on tariffs

🔜 Expectations

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💲 Tether CEO says 94 tonnes of XAUT moved instantly in the past six months for just 0.0016% in fees

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❕ The Crypto Fear & Greed Index falls to 7

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🪙 Bitcoin mining difficulty jumps 15%, posting record absolute increase as hashrate rebounds after US winter storm

Bitcoin mining difficulty has risen 14.7% to 144.4 trillion, marking a record absolute increase as hashrate rebounded following widespread weather-related curtailments across the US.

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💲 Bloomberg: Tether’s USDT set for biggest monthly retreat since FTX collapse

The total amount of Tether’s USDT in circulation has fallen by about $1.5 billion so far in February.

Tether didn’t immediately respond to a request for comment.

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⭐️ Just Good to Know: Economics Basics

In the run-up to today's major US data drops, let's break down the key indicators:

• GDP (Gross Domestic Product) — The broadest measure of economic health. Shows total value of all goods and services produced.

• Core PCE — The Fed's favorite inflation gauge. Tracks price changes in consumer spending. Key for rate decisions.

• PMI (Flash Manufacturing & Services) — Leading indicators of business activity. Above 50 means expansion; below 50 — contraction.

🔜 These three indicators often dictate market moves — read how.

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❕ US Macro Data (PCE)

• Core PCE YoY, December: 3.0%
Forecast: 2.9%

• Core PCE MoM: 0.4%
Forecast: 0.3%

The report came in worse than expected — inflation is re-accelerating, which is negative for markets.

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❕ US Macro Data (GDP)

• US Q4 GDP: 1.4%
Forecast: 3.0%

The report also came in worse than expected — signaling a sharp slowdown in economic growth.

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⚡️ The Supreme Court of the United States has struck down President Donald Trump’s global tariffs

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📣 President Trump says he has a fallback plan regarding tariffs

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⚡️ Trump announces 10% global tariff to be added on top of existing tariffs

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⭐ The most significant Rise & Fall of the top tokens over the past week.

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🔥 Polymarket shows a 29% chance that a court will force Trump to refund $175,000,000,000 in tariff revenue

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🔥 Coinbase CEO Brian Armstrong said countries that embrace crypto are likely to see the most economic growth over the next decade

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