Bitcoin Falls to $63,000 as Fear & Greed Index Hits Extreme Fear
Bitcoin fell toward $63,000 and the Crypto Fear & Greed Index slid to "extreme fear" as President Trump's plan to raise global tariffs to 15%, escalating U.S.–Iran tensions, and fallout from a viral AI disruption report added pressure to risk assets, leaving bitcoin on track for its worst month since June 2022. Against that backdrop, today's company announcements and on-chain data underscored how digital assets are increasingly embedded in infrastructure, tax compliance, and corporate balance sheets rather than just token prices. Stay up on the crypto news that matters with "Crypto Currents," daily from The Fly. Join us at 2 PM ET for your essential briefing on the fast-moving world of cryptocurrency on FlyCast radio.ETF FLOWS AND ON-CHAIN SUPPORT ZONES:Spot bitcoinETFs have turned into sustained sellers, with four straight months of net outflows totaling about 85,000 BTC since October 2025 and over $1B redeemed in February alone, as noted by the. EMJ Capital's Eric Jackson framed the drawdown as a "purification" of the bull case, with hedge funds cutting roughly 28% of their ETF exposure ahead of potential future allocations from pensions and sovereign wealth funds. On-chain, BlackRock'smovement of 1,814 BTC and 24,472 ETH, roughly $160M combined, to CoinbasePrime this week, following a prior $270M transfer, shows how large ETF sponsors routinely shuttle assets through institutional custodians, according to. For listed brokers, exchanges, and asset managers, these swings translate to episodic volume and fee opportunities but also greater beta to crypto cycles on earnings., lifting supply with a cost basis in that band from about 997,000 BTC at the start of the year to roughly 1.43M BTC today. Over 8% of non-exchange circulating supply now sits in that zone, creating a dense cluster of holders currently underwater with bitcoin below $63,000. For equity investors, that's analogous to a high-volume node on a volume profile: an area where forced selling could accelerate downside, or where renewed demand could cement a durable support band.BITMINE EXPANDS RECORD ETHEREUM TREASURY:BitMine Immersion Technologiesbought an additional 51,162 ETHlast week to bring its total holdings to about 4.42M ETH, of which more than 3.04M ETH are staked, according to company statements in recent days., giving the company control of roughly 3.7% of total ETH supply, with staked positions generating nine-figure annualized revenue at current yields, effectively making the stock a levered ETH treasury plus staking vehicle in the public markets.USD1 STABLECOIN STRESS TEST:World Liberty Financial's USD1, a roughly $5B stablecoin backed by a Trump-aligned venture, offered a live stress test when it briefly de-pegged to about $0.98 during what the team called a "coordinated attack" involving hacked social media accounts, disinformation campaigns, and aggressive short positioning before recovering within roughly 30 minutes,. The attack unfolded across multiple fronts simultaneously on February 23, combining account compromise, paid influencer campaigns, and short selling of the WLFI token, which dropped 7% before partially recovering. For banks, brokers, and payments companies, the incident underscores stablecoin vulnerabilities to social-engineering-driven attacks even when reserve backing remains intact.COINBASE OPENS STOCK AND ETF TRADING FOR ALL U.S. USERS:Coinbase's push to become an "everything exchange" took another step today as it opened zero-commission, 24-hour, 5 days a week, stock and ETF trading for all U.S. customers, offering access to more than 8,000 equities with fractional share support and the ability to fund trades in USD or USDC, according to the. A parallel partnership with Yahoo Finance will let that platform's more than 150M monthly visitors execute one-click trades directly from equity and crypto charts, with a dedicated crypto hub powered by Coinbase data. For equity investors, the move increases Coinbase's diversification away from pure crypto trading revenue but also ties its fortunes more closely to broader equity-market volatility.BITCOIN DEPOT TIGHTENS KYC AT EVERY KIOSK:Bitcoin Depotannounced a phased rollout of a new compliance policy requiring ID verification for every transaction at its kiosks, positioning the tighter know-your-customer procedures as a way to strengthen safeguards against misuse at its U.S. bitcoin ATM network, according to a. The move comes as state and federal regulators increase scrutiny of crypto ATMs, and positions Bitcoin Depot as proactively aligning its network with evolving regulatory expectations.INFRASTRUCTURE, TAX REPORTING, AND B2B STABLECOIN RAILS:Sovos and Label announced a partnership to deliver comprehensive CARF reporting solutions for digital-asset platforms, targeting exchanges, brokers, custodians, and other virtual asset service providers that need to comply with the OECD's Crypto-Asset Reporting Framework and new U.S. 1099-DA rules, according to a. The solution covers crypto-to-fiat and crypto-to-crypto trades, staking rewards, and retail payments, effectively embedding tax reporting into the core infrastructure of digital-asset businesses starting with the 2026 tax year.dLocaland Stable Sea announced a strategic partnership today to power low-cost B2B stablecoin payments for emerging-markets corporates, with dLocal highlighting Stable Sea's "stablecoin-enabled workflows" and its own effort to extend local-payments infrastructure into stablecoin rails through a dedicated crypto vertical, according to. Perpetuals.com, meanwhile, today launched two commercial platforms, Ledgera, which aims to unify validation and settlement across major Layer-1 chains and stablecoins at up to 100x lower transaction costs, and PerpetualPay, a blockchain-based payments infrastructure product, via a.PRICE ACTION:As of time of writing, bitcoin was trading at $64,398.00, while ether was trading at $1,861.37,.
