The global crypto market cap is currently at $3.15tn, a 2.91% decrease over the last day. The total crypto market 24h volume increased by 2.95% to $100.9bn. The volume of all stable coins is now $93.55bn, which is 92.71% of the total crypto market 24h volume.
Federal Reserve Chair Powell, testifying before Congress, conveyed a measured stance on monetary policy, citing strong economic conditions and persistent inflation as reasons to maintain current interest rates. Market expectations shifted in response, with forecasts adjusting to one rate cut by September 2025, down from previous projections of two cuts this year.
The January CPI report, released today at 14:30 CET, is expected to show inflation at 0.3% MoM (down from December's 0.4% rise), with annual inflation steady at 2.9%. Core inflation is projected at 0.3% monthly and 3.1% annually. While a lower-than-expected reading could boost risk assets like Bitcoin, market indicators suggest limited upside potential. Market expectations of future inflation are trending higher, as shown by two-year inflation swaps climbing to nearly 2.8% - a level not seen since early 2023 - with five-year swaps following a similar pattern, according to Mott Capital Management data. This increased willingness by investors to pay higher premiums for inflation protection through CPI-linked contracts signals growing inflation concerns. These market signals, combined with BlackRock and RBC's forecasts of persistent inflation, support Fed Chair Powell's cautious stance on rate cuts.
US President Trump intends to nominate Brian Quintenz, currently head of policy at Andreessen Horowitz's (a16z) crypto arm, to lead the Commodity Futures Trading Commission (CFTC). Quintenz served as a CFTC commissioner from 2017-2021 where he helped oversee the first regulated Bitcoin and Ethereum futures. At a16z, he has advocated for clear crypto regulations that support innovation. The nomination fits with Trump's broader strategy of appointing pro-crypto regulators.
Binance and the SEC filed a joint motion on Monday asking for a 60-day pause in a lawsuit that was filed two years ago under the previous chairman Gary Gensler, citing a new crypto task force that may aid in resolving the dispute.
On Feb 11, US Bitcoin spot ETFs saw net outflows for the second consecutive day this week, totaling $56.7 million, while Ethereum ETFs attracted net inflows of $12.6 million.
Proton, the Swiss privacy company known for encrypted services like Proton Mail and VPN, has launched its self-custodial Bitcoin wallet across mobile and web platforms. The new wallet also integrates a "Bitcoin by email" service, allowing bitcoin transfers to be done with just an email address.
According to its Feb 11 Form 13F filing with the Securities and Exchange Commission, investment bank Goldman Sachs increased its spot Ether ETF holdings by over 2,000%, from from $22m to $476m, in the fourth quarter of 2024. Goldman also increased its Bitcoin ETF holdings by 114% to $1.52 billion.
