Bitcoin short positions continued to pile up as BTC price dropped near 
$81,000, potentially providing the liquidation fuel for a revenge rally back 
above $90,000.

Bitcoin futures imbalance may spark liquidation revenge rally to $90K

The blank-check company has yet to name an acquisition target, but the listing 
creates a new public vehicle tied to the US-based crypto exchange.

Kraken-backed SPAC raises $345M in upsized Nasdaq IPO

Bitcoin has slipped below the $83,000 level as selling pressure continues to 
dominate global markets, extending a correction that has unfolded alongside 
broader risk-off conditions. Weakness across equities and commodities has 
weighed on investor sentiment, and Bitcoin has not been immune to this 
environment. With volatility elevated and liquidity thinning, market 
participants are increasingly cautious, and several analysts now point to the 
possibility of a deeper retracement toward lower demand zones before any 
meaningful stabilization can occur. Related Reading: XRP Risk-Adjusted Returns 
Signal Consolidation Rather Than Trend Formation – Details Beyond price 
action, on-chain data suggests that the Bitcoin network itself is entering a 
period of unusually low activity. Transaction demand has cooled, and miner fee 
generation remains muted, signaling limited urgency for blockspace. This 
“quiet” state reflects a market where speculative interest has faded, and 
organic usage is subdued, a combination that often emerges during corrective 
or transitional phases rather than during strong uptrends. At the same time, 
the lack of aggressive on-chain selling pressure indicates that the move lower 
is not being driven by panic but by persistent distribution and reduced 
participation. This creates an environment where price can drift lower with 
relatively little resistance. As Bitcoin searches for its next area of 
support, the coming sessions will be critical in determining whether current 
weakness evolves into a deeper correction or forms the foundation for a more 
durable base once activity and demand begin to recover. Bitcoin Miner Fees 
Signal Prolonged Network Dormancy An analysis from Onchain Mind highlights a 
key metric for assessing the underlying health of the Bitcoin network: the 
Miner Fees to Block Subsidy Ratio. This indicator measures how much of miners’ 
revenue comes from transaction fees compared to the fixed block reward, making 
it a direct proxy for organic demand for blockspace. When users are competing 
to have transactions included in blocks, fees rise, and this ratio increases. 
When activity slows, the ratio compresses. Since July, this metric has 
remained pinned below 1%, marking a sharp and sustained cooldown in network 
usage. This stands in stark contrast to the conditions seen last May, when the 
ratio surged above 15% during periods of heightened on-chain activity and 
speculative demand. At that time, elevated fees reflected strong competition 
for blockspace and a network operating near capacity. The current environment 
tells a very different story. Persistently low fee contribution suggests that 
transaction urgency has largely evaporated, with users showing little 
willingness to pay premium fees for settlement. Historically, such prolonged 
periods of subdued fee pressure have been associated with bear market phases, 
when participation declines and on-chain activity contracts. This does not 
signal immediate stress for miners, given the dominance of the block subsidy 
in revenue. However, it does underline a broader slowdown in network 
engagement, reinforcing the view that Bitcoin is currently operating in a low- 
demand, defensive phase rather than a growth-driven one. Related Reading: 
Bitmine Stakes Additional 250,912 Ethereum Worth $745M – 61% Is Now Staked 
Bitcoin Breaks Key Support As Bearish Structure Strengthens Bitcoin’s price 
action continues to reflect a market under sustained pressure. BTC is now 
trading near the $83,000 area after failing to hold recent consolidation lows. 
The chart shows a clear sequence of lower highs and lower lows since the 
November peak. Confirming that the broader structure remains bearish rather 
than corrective. Price is firmly below the 50-day and 100-day moving averages, 
both of which are sloping downward and acting as dynamic resistance, while the 
200-day moving average remains well above current levels, reinforcing the loss 
of long-term trend support. Related Reading: OKX Launches Crypto Payment Card 
Across the European Economic Area The recent breakdown below the 
$85,000–$84,000 zone is technically significant. This area had previously 
acted as a short-term base during December and early January. But the failure 
to defend it suggests that buyers are no longer willing to absorb supply at 
these levels. Volume spikes accompanying the latest sell-off indicate 
distribution rather than capitulation, pointing to continued, orderly selling 
pressure. The market is transitioning into a price discovery phase toward 
lower demand zones. If downside momentum persists, the next areas of interest 
lie near the $80,000 psychological level. Followed by deeper support closer to 
the low-$70,000 range, where previous consolidation occurred in mid-2024. 
Featured image from ChatGPT, chart from TradingView.com

Bitcoin Miner Fees Remain Near Cycle Lows: What Does This Signal?

MiCA is now fully in force, with ESMA warning that licenses are needed, 
otherwise exit the market. Crypto.news spoke with KuCoin CEO BC Wong about the 
shifting regulatory landscape.

KuCoin CEO on MiCA: Compliance becomes the cost of doing business in Europe

The Dow Jones Index and the crypto market slipped as investors reacted to 
Donald Trump&#8217;s decision on Kevin Warsh to be the next Federal Reserve 
Chairman.

Cryptocurrency price in BHD