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,.
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Trump's State of the Union Highlights Economic Achievements
- Economic Performance Rating: In his State of the Union address, Trump claimed that the U.S. economy has returned to a 'golden age,' yet only 39% of U.S. adults approved of his economic management according to AP-NORC polling, indicating public skepticism about his economic policies.
- Tariff Policy Impact: Trump attributed the 'roaring' American economy to tariffs; however, the recent Supreme Court ruling that overturned tariffs central to his economic strategy constrains his trade policy options, potentially leading to adjustments in economic policy.
- Claims on International Conflicts: Trump asserted that he has stopped eight wars since taking office, a claim widely disputed, reflecting the contentious and uncertain nature of his foreign policy, which may affect his support in the upcoming midterm elections.
- Lack of New Initiatives: While reiterating familiar policies and goals, Trump's speech lacked new initiatives, which could lead to declining voter confidence in his future policies, especially with midterm elections approaching.
Trump's State of the Union Address May Trigger Market Volatility
- Tariff Policy Uncertainty: Trump announced the implementation of Section 122 tariffs globally, initially set at 10% but planned to be raised to 15% effective immediately, creating uncertainty that may lead to market volatility and impact investor confidence.
- Market Rebound Drivers: U.S. stocks rebounded on Tuesday with support from software stocks, as the S&P 500 rose by 0.77% and the Nasdaq Composite increased by 1.04%, indicating a gradual recovery in investor confidence towards tech stocks.
- Critical Mineral Resource Race: Governments are accelerating the race to secure critical minerals, with Washington proposing a $12 billion
Kuwait Petroleum Corp. Plans $7B Pipeline Stake Sale
- Strong Investor Interest: Potential investors including BlackRock (BLK), Brookfield Asset Management (BAM), EIG Partners, and KKR (KKR) have engaged in early-stage discussions with Kuwait Petroleum Corp. regarding a $7 billion stake sale in its crude oil pipeline network, indicating significant market interest in the transaction.
- Diverse Financing Structure: The deal is reportedly structured with approximately $1.5 billion in equity financing, with the remainder financed through bank loans, reflecting Kuwait Petroleum's flexible capital strategy aimed at attracting more investors.
- Upcoming Transaction Launch: Kuwait Petroleum Corp. is expected to formally initiate the pipeline stake sale process by the end of this month, which may accelerate investor decision-making and provide the company with much-needed capital inflow.
- Increased Market Competition: Should Kuwait successfully execute the deal, it would join major crude oil producers like Saudi Arabia and the UAE in selling minority stakes in their pipelines, intensifying competition in the Middle East and potentially impacting global oil supply chain dynamics.
SambaNova Appoints Semiconductor Veteran Lip-Bu Tan as Executive Chairman
- Strategic Partnership: SambaNova has entered into a multi-year collaboration with Intel to adopt Intel server chips and graphics cards, aiming to enhance the performance of its generative AI models and strengthen its market position against Nvidia's dominance.
- Funding Injection: Intel's participation in a $350 million funding round for SambaNova reflects confidence in the startup, despite Intel's revenue decline over the past four years, potentially supporting its resurgence in the AI chip market.
- New Product Launch: SambaNova has unveiled its new SN50 chip, claiming it outperforms Nvidia's B200 system GPUs while providing greater computing power at the same price, which could attract more customers to its offerings.
- Market Expansion Plans: SambaNova aims to expand its cloud services for running AI models and is looking to sell clusters that can be operated in client data centers, further enhancing its market share and fostering closer collaborations with major AI labs.
Private Credit Faces Serious Test Amid $3 Trillion Boom
- Crisis Signals: The private credit market, having experienced a $3 trillion boom, is facing systemic risks as Blue Owl Capital's decision to permanently halt redemptions for its $1.6 billion OBDC II fund exposes vulnerabilities, indicating not just corporate issues but a warning for the entire non-bank financial ecosystem.
- Bankruptcy Wave: The bankruptcies of Tricolor and First Brands in September 2025 heightened concerns over private credit's exposure to highly leveraged borrowers, leading banks like UBS and Jefferies to face hundreds of millions in losses, which intensified market worries about liquidity risks.
- Increased Regulatory Pressure: With Tricolor executives charged for systematic fraud, scrutiny over lending practices has intensified, as JPMorgan CEO Jamie Dimon highlighted that corporate lending practices have become too lax over the past decade, indicating a pressing need for improved risk management in the market.
- Uncertain Future Outlook: Despite facing numerous challenges, including rising default rates and redemption pressures, global private credit fundraising still grew to $224.25 billion in 2025, suggesting that capital remains active and the growth phase of the industry is not over, potentially leading to better liquidity management strategies in the future.
Panama Cancels CK Hutchison's Port Contracts
- Contract Cancellation: The Panamanian government announced the annulment of contracts held by CK Hutchison's subsidiary for the Balboa and Cristobal ports, ending over 20 years of operations and potentially leading to significant declines in market share and revenue for the company.
- Interim Operational Arrangement: Under a new decree, Danish shipping giant Maersk and Swiss-based Mediterranean Shipping Co. will temporarily operate the two ports, ensuring uninterrupted operations for the next 18 months, which will have a substantial impact on the global shipping network.
- Escalating Legal Dispute: CK Hutchison has initiated arbitration against Panama, asserting that any operations by Maersk or its subsidiaries without consent will lead to legal recourse, indicating strong opposition to the loss of control and potentially triggering broader legal and political conflicts.
- Geopolitical Implications: This ruling is seen as a significant victory for the U.S. in its efforts to curb Chinese influence in global trade, with the decision likely prompting Chinese state firms to halt new project negotiations in Panama, further escalating tensions between the U.S. and China.
Trump's State of the Union Highlights Economic Achievements
- Economic Performance Rating: In his State of the Union address, Trump claimed that the U.S. economy has returned to a 'golden age,' yet only 39% of U.S. adults approved of his economic management according to AP-NORC polling, indicating public skepticism about his economic policies.
- Tariff Policy Impact: Trump attributed the 'roaring' American economy to tariffs; however, the recent Supreme Court ruling that overturned tariffs central to his economic strategy constrains his trade policy options, potentially leading to adjustments in economic policy.
- Claims on International Conflicts: Trump asserted that he has stopped eight wars since taking office, a claim widely disputed, reflecting the contentious and uncertain nature of his foreign policy, which may affect his support in the upcoming midterm elections.
- Lack of New Initiatives: While reiterating familiar policies and goals, Trump's speech lacked new initiatives, which could lead to declining voter confidence in his future policies, especially with midterm elections approaching.
Trump's State of the Union Address May Trigger Market Volatility
- Tariff Policy Uncertainty: Trump announced the implementation of Section 122 tariffs globally, initially set at 10% but planned to be raised to 15% effective immediately, creating uncertainty that may lead to market volatility and impact investor confidence.
- Market Rebound Drivers: U.S. stocks rebounded on Tuesday with support from software stocks, as the S&P 500 rose by 0.77% and the Nasdaq Composite increased by 1.04%, indicating a gradual recovery in investor confidence towards tech stocks.
- Critical Mineral Resource Race: Governments are accelerating the race to secure critical minerals, with Washington proposing a $12 billion
Kuwait Petroleum Corp. Plans $7B Pipeline Stake Sale
- Strong Investor Interest: Potential investors including BlackRock (BLK), Brookfield Asset Management (BAM), EIG Partners, and KKR (KKR) have engaged in early-stage discussions with Kuwait Petroleum Corp. regarding a $7 billion stake sale in its crude oil pipeline network, indicating significant market interest in the transaction.
- Diverse Financing Structure: The deal is reportedly structured with approximately $1.5 billion in equity financing, with the remainder financed through bank loans, reflecting Kuwait Petroleum's flexible capital strategy aimed at attracting more investors.
- Upcoming Transaction Launch: Kuwait Petroleum Corp. is expected to formally initiate the pipeline stake sale process by the end of this month, which may accelerate investor decision-making and provide the company with much-needed capital inflow.
- Increased Market Competition: Should Kuwait successfully execute the deal, it would join major crude oil producers like Saudi Arabia and the UAE in selling minority stakes in their pipelines, intensifying competition in the Middle East and potentially impacting global oil supply chain dynamics.
SambaNova Appoints Semiconductor Veteran Lip-Bu Tan as Executive Chairman
- Strategic Partnership: SambaNova has entered into a multi-year collaboration with Intel to adopt Intel server chips and graphics cards, aiming to enhance the performance of its generative AI models and strengthen its market position against Nvidia's dominance.
- Funding Injection: Intel's participation in a $350 million funding round for SambaNova reflects confidence in the startup, despite Intel's revenue decline over the past four years, potentially supporting its resurgence in the AI chip market.
- New Product Launch: SambaNova has unveiled its new SN50 chip, claiming it outperforms Nvidia's B200 system GPUs while providing greater computing power at the same price, which could attract more customers to its offerings.
- Market Expansion Plans: SambaNova aims to expand its cloud services for running AI models and is looking to sell clusters that can be operated in client data centers, further enhancing its market share and fostering closer collaborations with major AI labs.
Private Credit Faces Serious Test Amid $3 Trillion Boom
- Crisis Signals: The private credit market, having experienced a $3 trillion boom, is facing systemic risks as Blue Owl Capital's decision to permanently halt redemptions for its $1.6 billion OBDC II fund exposes vulnerabilities, indicating not just corporate issues but a warning for the entire non-bank financial ecosystem.
- Bankruptcy Wave: The bankruptcies of Tricolor and First Brands in September 2025 heightened concerns over private credit's exposure to highly leveraged borrowers, leading banks like UBS and Jefferies to face hundreds of millions in losses, which intensified market worries about liquidity risks.
- Increased Regulatory Pressure: With Tricolor executives charged for systematic fraud, scrutiny over lending practices has intensified, as JPMorgan CEO Jamie Dimon highlighted that corporate lending practices have become too lax over the past decade, indicating a pressing need for improved risk management in the market.
- Uncertain Future Outlook: Despite facing numerous challenges, including rising default rates and redemption pressures, global private credit fundraising still grew to $224.25 billion in 2025, suggesting that capital remains active and the growth phase of the industry is not over, potentially leading to better liquidity management strategies in the future.
Panama Cancels CK Hutchison's Port Contracts
- Contract Cancellation: The Panamanian government announced the annulment of contracts held by CK Hutchison's subsidiary for the Balboa and Cristobal ports, ending over 20 years of operations and potentially leading to significant declines in market share and revenue for the company.
- Interim Operational Arrangement: Under a new decree, Danish shipping giant Maersk and Swiss-based Mediterranean Shipping Co. will temporarily operate the two ports, ensuring uninterrupted operations for the next 18 months, which will have a substantial impact on the global shipping network.
- Escalating Legal Dispute: CK Hutchison has initiated arbitration against Panama, asserting that any operations by Maersk or its subsidiaries without consent will lead to legal recourse, indicating strong opposition to the loss of control and potentially triggering broader legal and political conflicts.
- Geopolitical Implications: This ruling is seen as a significant victory for the U.S. in its efforts to curb Chinese influence in global trade, with the decision likely prompting Chinese state firms to halt new project negotiations in Panama, further escalating tensions between the U.S. and China.
