Market Signal Briefing

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February 2026 is showing mixed messages regarding the Bitcoin vs gold narrative as there has been ongoing debate over which hard asset is entering into its next expansion stage. While gold has climbed to new highs above $5,100, Bitcoin has failed to rise above the $67,000 area, continuing its consolidation that has now reached almost a month.

Meanwhile, one of the top crypto analysts has stated that the Bitcoin vs gold debate should always be based on the true relative strength between both rare commodities.

BTC vs Gold Ratio Indicates Late Bear Market Phase Market analyst Michael van de Poppe posted that Bitcoin has been falling against gold since about 14 months. He further said that it achieved the highest level relative to gold in December 2024.

The preceding BTC vs gold bear markets happened in 2013-2015, 2017-2019, and 2021- 2022. This current one is of similar duration and each time the digital asset rose to multi-year uptrends.

The weekly RSI in the BTC vs gold chart has also hit a record low, which indicated the lowest macro bottoms in the past. According to the analyst, the existing structure indicates that BTC price is approaching the end of a relative downtrend.

This makes the October 2025 all-time high for BTC expressed in USD misleading. It is more of a rise as gold also gained instead of BTC’s independence.

The same sentiment change can be observed in Polymarket data as there is a 29% probability that Bitcoin is much more likely to outperform gold in 2026. Despite its lesser performance, the BTC price trading within a range for multiple weeks is often followed by a huge directional price movement.

Source: Polymarket Traditionally, when gold performs better than BTC and the Bitcoin vs gold RSI hits its deepest possible lows, a drastic upswing in the price of the most popular cryptocurrency follows. A recent shift in sentiment regarding the Bitcoin vs gold debate happened recently. BlackRock Bitcoin ETF (IBIT) options soared to be the ninth largest in the American market surpassing gold ETFs.

Trading volume in IBIT options rose higher than that of VanEck Gold Miners ETFs and SPDR Gold Shares. Also, a JPMorgan analyst argued that Bitcoin is more appealing in the long-term compared to gold.

Which Asset Could Spike Next? Gold has gained momentum and it has good macro flows as well as technical continuation. Nevertheless, the BTC vs Gold ratio implies that Bitcoin price is on the verge of a historical inflection area.

This zone is associated with a decrease in downside momentum. Hence, an inversion of this ratio would likely cause a higher percentage change in Bitcoin price than gold.

Meanwhile, analyst Willy Woo argued that an established 12-year trend of how Bitcoin has performed against gold has been breached. He also has said that Quantum fears and lost coins returning into circulation may cause a downward pressure Bitcoin price.

Woo also related the Bitcoin vs gold interaction to macro demand. He added that the coming 10 years might be associated with a debt strain cycle. This will compel investors to become more interested assets, such as gold.

Journalist

Posted: February 23, 2026

Ethereum Classic declined sharply over the past 24 hours, closing with a loss of nearly 9%. The drop reflects growing downside pressure, with market positioning skewed heavily in favor of bearish traders.

The recent cascade followed a noticeable contraction in liquidity.

Roughly 9% of liquidity exited the Ethereum Classic [ETC] perpetual market, leaving open interest at approximately $90.12 million. When weighed against Funding Rate data, the remaining capital appears largely aligned with short sellers.

At the time of writing, the Open Interest–Weighted Funding Rate has turned negative, printing -0.0282—one of its steepest negative readings since October 2025, a period that also coincided with a comparable price decline.

Source: CoinGlass

A negative funding rate indicates that short traders are paying long traders, signaling dominant bearish sentiment and a willingness by shorts to maintain their positions.

Liquidation data further underscores this imbalance. Long positions have absorbed the bulk of recent liquidations, while short sellers remain comparatively insulated. This disparity highlights the strength of bearish conviction and suggests that price action currently tilts in favor of sellers.

Market structure sends mixed signals Despite the bearish derivatives backdrop, the price structure presents a more nuanced picture across timeframes.

On the daily chart, ETC trades within a descending channel, defined by diagonal resistance and support trendlines. While descending channels often carry bearish implications, they can also precede bullish breakouts if price closes decisively above the upper resistance boundary.

Source: TradingView

At press time, the price hovered near the midpoint of the channel. A sustained move above the $9.94 resistance level would strengthen the case for a short-term recovery.

However, the broader monthly timeframe paints a more cautious outlook.

Over the long term, ETC continues to trend lower. The structure resembles a large consolidation pattern defined by horizontal support and descending resistance.

Typically, such formations resolve with a breakout near the confluence of support and resistance.

In this instance, price has already broken below key support and now approaches a lower structural level. A breakdown beneath this zone would push ETC to a new all-time low on its Binance monthly chart.

Conversely, if the lower support holds, a rebound scenario remains viable.

Source: TradingView

Short-term bounce possible? Momentum indicators suggest the possibility of temporary relief.

The Moving Average Convergence Divergence (MACD) showed the blue MACD line trending upward toward the orange signal line. The histogram has also begun printing green bars with increasing intensity, signaling strengthening bullish momentum in the short term.

Similarly, the Aroon Indicator reflects improving upside pressure. The Aroon Up (orange) remains above the Aroon Down (blue), aligning with the constructive signals seen on the MACD.

If momentum continued to build, ETC could experience a short-term rebound in the coming sessions.

However, unless price reclaims and sustains levels above $9.94, the broader bearish structure remains intact.

Source: TradingView

In summary, derivatives positioning heavily favors bears, and long-term structure still leans bearish.

While technical indicators point to the possibility of a near-term bounce, the broader trend suggests that investors should remain cautious, as downside risks have not yet fully dissipated.

Final Summary Ethereum Classic (ETC) dropped nearly 9% – as Open Interest fell to $90.12M, Funding Rate turned negative at -0.0282. A move above $9.94 may decide whether ETC stabilizes.

Journalist

Posted: February 23, 2026

While many retail investors are panicking about Cardano, one of the world’s largest digital asset managers is quietly doing the opposite. ADA’s price has fallen more than 22% in the past month and is struggling to stay above $0.27.

Despite the bearish mood, Grayscale has increased Cardano’s share in its Smart Contract Fund again, raising it to 20.34%. This shows that while small investors are selling, large institutions are adding more exposure.

Source: Grayscale

This is not a small adjustment. It is a repeated increase that confirms Cardano’s position as the third most important asset in the fund, after Solana [SOL] and Ethereum.

This shows that Grayscale is taking a long-term approach to Cardano [ADA], while most retail investors focus on short-term price moves. Since January 2026, ADA’s share in its Smart Contract Fund has slowly risen from about 18.5% to over 20%.

Because the fund follows fixed rules, Grayscale must buy more ADA during rebalancing. 

Interestingly, this is happening at a time when Bitcoin [BTC] and Ethereum [ETH] are gaining strong institutional traction, and now Cardano has also joined the fray.

Cardano’s metrics are concerning Technical indicators are suggesting the market may be near exhaustion. Cardano’s MVRV Ratio has dropped sharply, meaning most holders are now in a loss.

Source: Santiment

In the past, when the 30-day MVRV fell below -20%, weak investors usually sold their holdings, leaving mostly long-term holders in the market. This pattern often appeared near market bottoms.

At the same time, Open Interest has dropped, showing that many short-term traders and speculators have exited.

When both price and Open Interest fall together, they usually signal that the market is clearing out excess hype.

Source: CoinGlass

This often happens near the end of a downtrend, when selling pressure starts to fade, and the market prepares for a possible recovery.

What lies ahead for Cardano? All in all, Cardano is stuck between two opposite stories. On one side, its price is weak, and retail investors are worried.

On the other side, Cardano is going through major technical upgrades, with the next 45 days expected to bring its biggest changes since the Alonzo era.

At the same time, the Midnight privacy chain is set to launch by the end of March, offering selective privacy for regulated use, with support from Google and Telegram.

Thus, while the market is focused on fear and falling prices, big investors are betting on long-term infrastructure, suggesting Cardano’s quiet phase may soon end.

Final Summary ADA’s rising share in the fund proves that institutions see it as a core asset, not a short-term trade. Falling MVRV and Open Interest suggest weak hands have exited, which often happens near market bottoms.

Bitcoin plunged over $3,000 in two hours, while the Crypto Fear and Greed Index has slumped to historic lows again.

The Crypto Fear and Greed Index fell to its lowest levels on Monday as Bitcoin plunged more than 4% to $64,300, erasing its gains since Friday. 

More than 136,000 traders were liquidated over the past 24 hours, with total liquidations sitting at $458 million, 92% of which were leveraged long positions, according to CoinGlass.

Bitcoin saw some gains over the weekend, tapping $68,600 on Saturday, but it now sits at support at the bottom of a range-bound channel that formed after its Feb. 6 wipeout to $60,000.

Bitcoin is now trading 48% below its October all-time high of $126,000 and 5.5% below its 2021 bull-market peak of $69,000. 

Bitcoin sheds more than $3,000 in less than two hours. Source: TradingView
Alternative.me’s Crypto Fear and Greed index, which measures overall market sentiment, has fallen back to 5 out of 100, indicating “extreme fear.”

It has only ever fallen this low three times since 2018 — when the index launched — including August 2019, June 2022, and earlier this month. 

On-chain analytics provider Glassnode reported on Monday that the seven-day moving average for net realized losses for recent investors was still nearly $500 million per day, noting that they are still capitulating. 

“While the intensity has cooled, the broader regime still signals a market under pressure, with participants in the base formation phase continuing to capitulate.”Bitcoin’s Sharpe Ratio at historic lows  Meanwhile, analyst Michaël van de Poppe posted what he called a “phenomenal chart” on Saturday showing that the Sharpe Ratio for Bitcoin has fallen to -38.4, “which historically has marked ‘low risk’ accumulation zones.”

The ratio measures Bitcoin’s performance relative to the risk taken, indicating the return an investor can expect per unit of risk. 

The Bitcoin Sharpe Ratio has only been lower twice in history. Source: Michaël van de PoppeMagazine: Bitcoin may take 7 years to upgrade to post-quantum: BIP-360 co-author

Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy https://cointelegraph.com/editorial-policy

Ripple CEO Brad Garlinghouse now sees a 90% chance the Clarity Act passes by April, outpacing prediction markets as White House pressure and industry backing intensify, signaling accelerating momentum for long-sought U.S. crypto regulatory clarity.

Bitcoin price failed to stay above $68,000 and dipped sharply. BTC is now consolidating losses and might struggle to recover above $66,000.

Bitcoin started a fresh decline and traded below the $66,500 support. The price is trading below $66,500 and the 100 hourly simple moving average. There was a break below a bullish trend line with support at $68,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip again if it trades below the $64,500 and $64,200 levels. Bitcoin Price Dives Over 5% Bitcoin price failed to remain stable above the $67,200 zone. BTC started a fresh decline and traded below the $66,500 support zone. There was a push below $66,000.

The price even spiked below $65,000. There was also a break below a bullish trend line with support at $68,000 on the hourly chart of the BTC/USD pair. A low was formed at $64,203, and the price is now correcting some losses. There was a move above $64,500, but the price is still well below the 23.6% Fib retracement level of the recent decline from the $68,653 swing high to the $64,203 low.

Bitcoin is now trading below $66,500 and the 100 hourly simple moving average. If the price remains stable above $64,200, it could attempt a fresh increase. Immediate resistance is near the $65,250 level.

Source: BTCUSD on TradingView.com The first key resistance is near the $66,400 level or the 50% Fib retracement level of the recent decline from the $68,653 swing high to the $64,203 low. A close above the $66,400 resistance might send the price further higher. In the stated case, the price could rise and test the $67,000 resistance. Any more gains might send the price toward the $67,600 level. The next barrier for the bulls could be $68,000 and $68,500.

Another Decline In BTC? If Bitcoin fails to rise above the $66,000 resistance zone, it could start another decline. Immediate support is near the $64,400 level. The first major support is near the $64,200 level.

The next support is now near the $63,500 zone. Any more losses might send the price toward the $62,850 support in the near term. The main support now sits at $62,000, below which BTC might struggle to recover in the near term.

Technical indicators:

Hourly MACD – The MACD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.

Major Support Levels – $64,500, followed by $64,200.

Major Resistance Levels – $66,000 and $66,500.

This location-based tech firm recently expanded its partnership with the world's largest ride-sharing app.

Charles J. Prober, a Board Director at Life360 (LIF +0.10%), reported the sale of 7,930 shares for approximately 389K on Feb. 13, 2026, via an open-market sale immediately following an option exercise, according to a SEC Form 4 filing.

Transaction summaryMetricValueShares sold (direct)7,930Transaction value$389,000Post-transaction shares (direct)105,456Post-transaction value (direct ownership)$5.20 millionTransaction value based on SEC Form 4 weighted average purchase price ($49.02). Post-transaction value based on Feb. 13 closing price.

Key questionsHow does this transaction compare to Prober's recent trading activity?
This sale size matches the median for Prober's recent administrative sales since July 2025, with 7,930 shares disposed in each of the past eight consecutive months, reflecting a systematic, pre-scheduled disposition cadence.What was the nature of the shares sold in this filing?
The shares sold stem from the exercise of stock options, immediately converted into common stock, and sold in the open market.

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Company overviewMetricValueRevenue (TTM)$459.03MNet income (TTM)$29.68MEmployees4551-year price change (as of Feb. 22, 2026)5.61%Company snapshotLife360 is a technology company specializing in location-based safety and coordination solutions for families and individuals. Through a combination of mobile applications and connected hardware, the company delivers a comprehensive suite of services that address real-time location tracking, driving safety, and digital security. The company offers a mobile platform for location tracking and safety services, as well as tracking devices, including Jobit wearable location devices. What this transaction means for investorsIn less than 2 years on the market, Life360 stock has performed well, rising 54% in 2025. And on Jan. 5, 2026, the digital safety company announced the completion of their acquisition of Nativo, a leading advertising technology company.

Life360 plans to utilize Nativo’s resources to further generate ad revenue and partnership deals with its large data set of 50 million monthly users. As the company continues to grow its subscription and ad-revenue strategy, and the stock performs well in tandem, Life360 appears well-positioned for long-term growth.

But Life360 didn’t stop there, because on Feb. 17, it announced an expansion of its strategic partnership with Uber (UBER +1.26%) , with plans to allow users across both platforms to link their accounts, including Uber teen accounts, so that parents, guardians, and other close relatives and friends will be able to coordinate rides and stay informed in real time. The integrated experience is expected to be rolled out in the upcoming months.

While Life360’s stock is down approximately 27% in 2026, the company currently looks well-positioned for long-term growth.

Adé Hennis has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Life360. The Motley Fool has a disclosure policy.

The financial giant's stock has tumbled 73% over the past year.

Fiserv (FISV 0.05%) is one the most important financial companies in the world. It's the name behind many flashier ones, providing payment processing and other financial services.

However, it recently faltered in some important ways, and its stock has tumbled 73% over the past year. Let's see how it could bounce back and beat the market from here.

Image source: Getty Images.

What went wrong First, it's important to identify what's gone wrong when a giant that works with 10,000 institutional partners and is a crucial player in the economy begins to slide. The basic premise is that the company grew large and entrenched, losing market share to smaller, more nimble upstarts with innovative technology.

Although the stock had been falling for most of the year, it got clobbered after the third-quarter report in October. It missed on the top and bottom lines, coming in $0.61 below expecations for earnings per share (EPS).

The company recently hired a new CEO, Mike Lyons, to stabilize operations and establish a new growth strategy. He developed the One Fiserv plan to reset the company and boost the business. The plan involves using more artificial intelligence (AI) and new technology to meet customer needs and setting a new baseline to measure progress. There are many steps, such as hiring a new management team and focusing on quality recurring revenue streams, and Lyons warned that it's going to take time to see the results.

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What has to go right Fiserv is in a great position to stage a comeback. It's still the dominant player in multiple categories, and as a tech company, it has a strong digital platform that it can direct to meet changing customer demand. For example, it powers 70% of the financial institutions that partner with Zelle.

It recently made a few important announcements about deals with partners that help bring it forward, including a collaboration with Microsoft to bring Copilot into its development process and a partnership with Mastercard to bring agentic AI to its merchant base.

The company already made a positive impression on the market in its fourth-quarter report, released in early February, which demonstrated stability. Revenue was flat year over year, in line with guidance, and it maintained 2026 guidance.

Going forward, investors will want to see higher revenue growth, which will indicate a re-engaged client base, and a raised outlook, which will demonstrate that it's passing the stability phase and moving into the growth phase. There will be plenty of softer metrics that tell more of the story, but a market beat will require evidence that the company is revitalizing its business in a tangible way.

New York, New York--(Newsfile Corp. - February 22, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Ramaco Resources, Inc. (NASDAQ: METC) between July 31, 2025 and October 23, 2025, both dates inclusive (the "Class Period"), of the important March 31, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Ramaco securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Ramaco class action, go to https://rosenlegal.com/submit-form/?case_id=52081 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 31, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, throughout the Class Period, defendants made materially false and/or misleading statements and/or failed to disclose that: (1) defendants had not commenced any significant mining activity at the Brook Mine after groundbreaking; (2) no active work was taking place at the Brook Mine; (3) as a result, Ramaco overstated development progress at the Brook Mine; and (4) as a result of the foregoing, defendants' positive statements about Ramaco's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Ramaco class action, go to https://rosenlegal.com/submit-form/?case_id=52081 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284742

Source: The Rosen Law Firm PA

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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NEW YORK, Feb. 22, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of securities of Enphase Energy, Inc. (NASDAQ: ENPH) between April 22, 2025 and October 28, 2025, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 20, 2026.

SO WHAT: If you purchased Enphase securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Enphase class action, go to https://rosenlegal.com/submit-form/?case_id=25593 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 20, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made false and/or misleading statements and/or failed to disclose that: (1) Enphase overstated its ability to manage its channel inventory; (2) Enphase overstated its ability to mitigate effects arising from the termination of the Residential Clean Energy Credit; (3) accordingly, Enphase overstated its financial and operational prospects; and (4) as a result, Enphase’s public statements were materially false and misleading at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Enphase class action, go to https://rosenlegal.com/submit-form/?case_id=25593 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

, /PRNewswire/ --

Why: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Kyndryl Holdings, Inc. (NYSE: KD) between August 7, 2024 and February 9, 2026, both dates inclusive (the "Class Period"), of the important April 13, 2026 lead plaintiff deadline in the securities class action first filed by the Firm.

So what: If you purchased Kyndryl securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

What to do next: To join the Kyndryl class action, go to https://rosenlegal.com/submit-form/?case_id=38139 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 13, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

Why Rosen Law: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

Details of the case: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Kyndryl's financial statements issued during the Class Period were materially misstated; (2) Kyndryl lacked adequate internal controls and at times materially understated issues with its internal controls; (3) as a result, Kyndryl would be unable to timely file its Quarterly Report on Form 10-Q for the quarter ended December 31, 2025; and (4) as a result, defendants' statements about Kyndryl's business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all times. When the true details entered the market, the lawsuit claims that investors suffered damages. 

To join the Kyndryl class action, go to https://rosenlegal.com/submit-form/?case_id=38139 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm or on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

      Laurence Rosen, Esq.
      Phillip Kim, Esq.
      The Rosen Law Firm, P.A.
      275 Madison Avenue, 40th Floor
      New York, NY 10016
      Tel: (212) 686-1060
      Toll Free: (866) 767-3653
      Fax: (212) 202-3827
      [email protected]
      www.rosenlegal.com

SOURCE THE ROSEN LAW FIRM, P. A.

If you're on the hunt for high-yielding dividend stocks, look no further than these two pipeline operators.

Dividend-paying stocks allow investors to generate steady income from their investment portfolios. Midstream companies, also known as pipeline operators, can be excellent dividend stocks with high yields. That's because these businesses tend to have long-term contracts that provide visibility into future earnings. Enterprise Products Partners (EPD +0.47%) and Energy Transfer (ET +0.42%) are two no-brainer dividend stocks with high yields. Here's why they could be good investments today.

Image source: Getty Images.

Enterprise Products Partners offers a reliable dividend Enterprise Products Partners is an integrated midstream energy company that connects producers in major supply basins such as the Permian Basin to domestic consumers and international markets. The company has four business segments, but the bulk of its business is in processing natural gas into natural gas liquids (NGLs), fractionation, and transportation.

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What makes Enterprise appealing is its integrated business and scale, with 50,000 miles of pipelines, 300 million barrels of liquid storage, and 21 deep-water docks. Its integrated business, which includes processing, transporting, and exporting finished products, helps it earn fees at multiple stages of the value chain and also makes its customer base stickier. On top of that, about 82% of its gross operating margin is fee-based, which helps protect the company from fluctuations in oil and gas prices.

Enterprise Products Partners' resilient business model has made it an excellent dividend stock, as evidenced by its 6.3% dividend yield and a 27-year history of raising its annual dividend payment to investors. With operational distributable cash flow providing a coverage ratio of 1.7x, Enterprise's dividend is well-covered, leaving $3.2 billion for future growth projects.

Energy Transfer is capitalizing on hyperscalers' demand for natural gas Energy Transfer is a pipeline operator with over 140,000 miles of pipeline and assets across all major U.S. production basins. The company has jumped on the artificial intelligence boom and the data centers that power these algorithms. Last year, it secured multiple agreements with Oracle to supply 900 million cubic feet per day (MMcf/d) of natural gas directly to three of Oracle's data center campuses.

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The sheer number of pipelines it owns and operates gives Energy Transfer an advantage, enabling it to expand capacity by looping or adjusting pipes alongside existing lines. The company is considering repurposing one of its three existing NGL pipelines for natural gas service, which could help meet surging demand from AI data centers. Converting an existing pipeline rather than building a new one could potentially help it generate twice the revenue of NGL, while also avoiding the large capital expenditure of $800 million to $1 billion required to build a new pipeline.

Energy Transfer has a massive infrastructure footprint and is well positioned to ride the tailwinds of robust demand from hyperscalers for natural gas. Its 7% dividend yield makes it an excellent high-yield dividend stock to buy today.

Courtney Carlsen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Oracle. The Motley Fool recommends Enterprise Products Partners. The Motley Fool has a disclosure policy.

New York, New York--(Newsfile Corp. - February 22, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of common stock of Varonis Systems, Inc. (NASDAQ: VRNS) between February 4, 2025 and October 28, 2025, both dates inclusive (the "Class Period"), of the important March 9, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Varonis common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Varonis class action, go to https://rosenlegal.com/submit-form/?case_id=50337 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than March 9, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually litigate securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm achieved the largest ever securities class action settlement against a Chinese Company at the time. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants made materially false and/or misleading statements and or failed to disclose that: (1) Varonis would not be able to maintain ARR projections while converting both its federal and non-federal existing on-prem customers to the software-as-a-service ("SaaS") alternative offering; (2) Varonis was not equipped to convince existing users of the benefits of converting to the SaaS offering or otherwise maintain these customers on its platform, resulting in significantly reduced ARR growth potential in the near-term; and (3) as a result of the foregoing, defendants' positive statements about Varonis' business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Varonis class action, go to https://rosenlegal.com/submit-form/?case_id=50337 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284838

Source: The Rosen Law Firm PA

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CF Industries: The Valuation Disconnect Is Still Too Big To Ignore

NEW YORK, Feb. 22, 2026 (GLOBE NEWSWIRE) --

WHY: Rosen Law Firm, a global investor rights law firm, announces a class action lawsuit on behalf of purchasers of common stock of PayPal Holdings, Inc. (NASDAQ: PYPL) between February 25, 2025 and February 2, 2026, inclusive (the “Class Period”). A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 20, 2026.

SO WHAT: If you purchased PayPal common stock during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the PayPal class action, go to https://rosenlegal.com/submit-form/?case_id=53653 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 20, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs’ Bar. Many of the firm’s attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants provided investors with material information concerning PayPal’s expected financial targets for 2027 alongside the growth trajectory for its core branded checkout segment (“Branded Checkout”). Defendants’ statements included, among other things, confidence in PayPal’s ability to capitalize on its growth potential through new initiatives to facilitate Branded Checkout growth both in the U.S. and internationally. According to the lawsuit, defendants provided these overwhelmingly positive statements to investors while, at the same time, disseminating materially false and misleading statements and/or concealing material adverse facts concerning the true state of PayPal’s salesforce; notably, that it was not truly equipped to execute on PayPal’s perceived growth potential and were “too optimistic” as to how easily and expeditiously its staff could change customer adoption. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the PayPal class action, go to https://rosenlegal.com/submit-form/?case_id=53653 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

Contact Information:

        Laurence Rosen, Esq.
        Phillip Kim, Esq.
        The Rosen Law Firm, P.A.
        275 Madison Avenue, 40th Floor
        New York, NY 10016
        Tel: (212) 686-1060
        Toll Free: (866) 767-3653
        Fax: (212) 202-3827
        [email protected]
        www.rosenlegal.com

HIGHLIGHTS

Austral has completed the A$8.456 million private placement (before costs) at A$0.18 per share, with all firm commitments received.

Aitken Mount Capital Partners acted as sole Lead Manager to the Placement, introducing new Australian sophisticated and institutional investors.

Proceeds intended to be applied to accelerate exploration programs in Argentina and Chile and to expand processing capacity at Casposo and Guanaco.

Sydney, Australia--(Newsfile Corp. - February 22, 2026) - Austral Gold Limited (ASX: AGD) (TSXV: AGLD) (OTCQB: AGLDF) ("Austral" or the "Company"), an established gold producer, is pleased to announce the completion of its previously announced private placement, raising A$8.456 million (before costs) through the issue of 46,977,778 new fully paid ordinary shares (the "New Shares") at a price of A$0.18 per share (the "Placement").

Following receipt of TSXV regulatory approval, all committed funds have been received, and the New Shares have been issued under the Company's existing placement capacity in accordance with ASX Listing Rule 7.1A.

Aitken Mount Capital Partners acted as sole Lead Manager and Book Runner.

Austral Gold's Chair, Eduardo Elsztain, said: "We are very pleased to complete this Placement and welcome a number of new institutional and sophisticated investors to our company. The strong support for the Placement is a vote of confidence in our strategy to strengthen operations at Casposo in Argentina and Guanaco in Chile, while advancing our exploration portfolio."

As previously announced, Austral intends to use the proceeds from the Placement as follows:

Accelerate exploration programs in Casposo and Guanaco, focusing on areas near the Company's 100%-owned processing facilities, including the Manantiales Project in Argentina and Juncal Project in Chile; Invest in capital expenditure (capex) to expand processing (milling) capacity at Casposo, including the acquisition and construction of the classification plant to process tailings, and to increase agitation leaching capacity at Guanaco through the addition of a second filter press; andWorking capital purposes, including costs of the Placement. About Austral Gold

Austral Gold is a growing gold and silver mining producer building a portfolio of quality assets in the Americas based on three strategic pillars: production, exploration and equity investments. Austral continues to lay the foundation for its growth strategy by advancing its attractive portfolio of producing and exploration assets. Under its equity investments pillar, Austral holds shares in ASX-listed Unico Silver, as previously disclosed in the December 2025 Quarterly Report.

For more information, please visit the Company's website at www.australgold.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Release approved on behalf of the Board by the Chief Executive Officer, Stabro Kasaneva.

Forward-Looking Statements
Statements in this news release that are not historical facts are forward-looking statements. Forward-looking statements are statements that are not historical, and consist primarily of projections and statements regarding future plans, expectations and developments. Words such as "expects", "intends", "plans", "may", "could", "potential", "should", "anticipates", "likely", "believes" and words of similar expressions are intended to identify forward-looking statements. The forward-looking statement in this news release include, but are not limited to, statements regarding the intended use of proceeds from the Placement, the anticipated acceleration of exploration programs at Guanaco, Casposo, Manantiales and Juncal, the expected benefits and timing of planned capital expenditures, including expansion of milling capacity at Casposo, construction and acquisition activities related to the classification plant, and increased agitation leaching capacity at Guanaco, the belief that the initiatives funded by the Placement will support the next stage of the Company's growth, and the Company's broader operational, financial, and strategic objectives.

All of these forward-looking statements are subject to a variety of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those expressed or implied, including, without limitation, uncertainty of exploration programs, development plans and cost estimates, commodity price fluctuations; political or economic instability and regulatory changes; currency fluctuations, the state of the capital markets, uncertainty in the measurement of mineral resources and reserves; and other risks and hazards related to the exploitation and development of mineral properties, as well as the availability of capital. You are cautioned that the foregoing list is not exhaustive of all factors and assumptions which may have been used. Austral cannot assure you that actual events, performance or results will be consistent with these forward-looking statements, and management's assumptions may prove to be incorrect. Austral's forward-looking statements reflect current expectations regarding future events and operating performance and speak only as of the date hereof and Austral does not assume any obligation to update forward-looking statements if circumstances or management's beliefs, expectations or opinions should change other than as required by applicable law. For the reasons set forth above, you should not place undue reliance on forward-looking statements.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284843

Source: Austral Gold Limited

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New York, New York--(Newsfile Corp. - February 22, 2026) - WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of securities of Paysafe Limited (NYSE: PSFE) between March 4, 2025 and November 12, 2025, inclusive (the "Class Period"), of the important April 7, 2026 lead plaintiff deadline.

SO WHAT: If you purchased Paysafe securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement.

WHAT TO DO NEXT: To join the Paysafe class action, go to https://rosenlegal.com/submit-form/?case_id=2745 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action. A class action lawsuit has already been filed. If you wish to serve as lead plaintiff, you must move the Court no later than April 7, 2026. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. Many of these firms do not actually handle securities class actions, but are merely middlemen that refer clients or partner with law firms that actually litigate the cases. Be wise in selecting counsel. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Rosen Law Firm has achieved, at that time, the largest ever securities class action settlement against a Chinese Company. Rosen Law Firm was Ranked No. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. In 2019 alone the firm secured over $438 million for investors. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.

DETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Paysafe's ecommerce business had significant exposure to a single high risk client; (2) as a result, Paysafe's credit loss reserves and/or write-offs were understated; (3) Paysafe had an undisclosed issue with higher risk Merchant Category Codes, making its client services difficult to bank; (4) the foregoing issues were likely to have a material negative impact on Paysafe's revenue growth and overall revenue mix; (5) as a result, Paysafe was unlikely to meet its own previously issued financial guidance for fiscal year 2025; and (6) as a result of the foregoing, defendants' positive statements about Paysafe's business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.

To join the Paysafe class action, go to https://rosenlegal.com/submit-form/?case_id=2745 or call Phillip Kim, Esq. toll-free at 866-767-3653 or email [email protected] for information on the class action.

No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.

Follow us for updates on LinkedIn: https://www.linkedin.com/company/the-rosen-law-firm, on Twitter: https://twitter.com/rosen_firm or on Facebook: https://www.facebook.com/rosenlawfirm/.

Attorney Advertising. Prior results do not guarantee a similar outcome.

-------------------------------

Contact Information:

Laurence Rosen, Esq.
Phillip Kim, Esq.
The Rosen Law Firm, P.A.
275 Madison Avenue, 40th Floor
New York, NY 10016
Tel: (212) 686-1060
Toll Free: (866) 767-3653
Fax: (212) 202-3827
[email protected]
www.rosenlegal.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/284797

Source: The Rosen Law Firm PA

Ready to Announce with Confidence? Send us a message and a member of our TMX Newsfile team will contact you to discuss your needs.

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Spot Bitcoin ETFs gave the market a clean, daily scoreboard: a green print meant fresh cash crossing the boundary from traditional brokerage accounts into Bitcoin exposure, and a red print meant the opposite.

For much of the first year of spot ETFs in the US, that scoreboard tracked sentiment and set the market’s tempo. Traders learned to treat flows as the simplest proxy for a real bid, because the buyer was observable, usually price-insensitive, and large enough to matter.

But that habit is now getting seriously stress-tested.

The risk in this phase now comes from flat days, because the cushion disappears without a reset.

By mid-February 2026, mainstream coverage started framing the same idea: Bitcoin has struggled to break through nearby levels while ETF demand cools, and caution returns as the ETF honeymoon fades. While the details differ across outlets, the shared premise is easy to recognize on any flow tracker. Sessions flip between small greens, zeros, and reds, with fewer of the relentless up-only intake days that trained everyone to anchor on the tape.

What we have now is ETF fatigue, and it happens when the scoreboard stops acting like a metronome for the rest of the market. Flows still matter, sometimes a lot, but they've stopped behaving like a daily engine. They've turned into confirmation, or a missing ingredient, rather than the whole recipe.

The price is now listening harder to other inputs: derivatives, macro rates, and liquidity.

Over time, the market adapts. Allocations settle into rebalancing rhythms, hedging gets more efficient, and the surprise factor in the daily print fades. The flow still counts, but it seems to have stopped setting direction by itself.

When the 7-day average drifts toward zero for a full week, the price starts taking cues from positioning and liquidity rather than the print.

Early February tape: big inflows still show up, yet the rhythm changesOne reason ETF fatigue can fool people is that large inflow days still show up.

In early February, spot Bitcoin ETFs posted a roughly $562 million net inflow day that ended a long outflow streak. The inflow looked like the old world, where a big green day set the stage for a relief rally.

Table showing spot Bitcoin ETF flows from Jan. 30 to Feb. 18, 2026 (Source: Farside)But, in a fatigue regime, a big green print can matter and still fail to restore the earlier rhythm where persistent inflows did the heavy lifting day after day. The market absorbs the good print, then immediately asks whether it can repeat. When repetition fails, price action starts behaving accordingly.

The same week offered the other half of the picture. We saw back-to-back inflows for the first time in about a month, including a roughly $471.1 million day and a roughly $144.9 million day. Those are meaningful numbers, and their existence makes a useful point: the post-flow regime doesn't mean there's no inflows, just that inflows stop arriving with the consistency that made them an easy trading framework.

Why flat flows can be worse than outflowsOutflows can create a kind of mechanical clarity. Red days force conversations about positioning, risk limits, and capitulation. They can push marginal leverage out of the system and leave a cleaner base for price discovery. None of this is guaranteed, and every selloff has its own structure, but the market at least receives information: someone is exiting, and the exit has size.

Flat flows give less information while removing a cushion.

When ETF net flows hover around zero, the wrapper still trades, arbitrage still functions, and headlines still print, but the marginal buyer that used to soak up supply becomes intermittent. Meanwhile, leverage in the rest of the system often remains. Perpetual swaps still carry exposure, options desks still run books, and systematic strategies still react to volatility.

In that environment, price can drift inside a range with thin depth and sharp wicks, because fewer natural buyers step in during micro-stress. The market can look calm on the surface, then slip on small sells because fewer passive bids sit close to the price.

This is how air pockets form. There's no dramatic catalyst forcing a full flush, so positioning can stay stubborn. At the same time, the steady source of incremental demand that used to blunt sell pressure stops showing up reliably. The result can be a market that feels stable but is actually standing on a very shaky foundation.

Impact per dollar: the same flow, a different marketThe best way to see the regime shift is to compare the impact per dollar across tape regimes.

Inflow regime: money arrives repeatedly, rallies hold, pullbacks look orderly.Fatigue regime: money arrives episodically, rallies fade, wicks get sharper.The $562 million day works as a contrast example. It mattered as it snapped a streak, and it also placed a spotlight on how quickly everyone demanded a second act.

Flat flows also change behavior around levels. When Bitcoin approaches a well-watched price area, traders look for confirmation. In 2024, confirmation often meant a flow print that matched the move.

In 2026, confirmation can fail simply because the flow print arrives flat. That failure can matter more than a modest outflow day, because it interrupts momentum without clearing the board.
Replacement engines, ranked by time horizon

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When flows lose their role as the daily engine, the market rotates toward replacement engines. Think short horizon first, then medium, then background conditions. These forces decide whether a quiet flow week produces a calm range or a violent wick.

Short horizon: derivatives positioning. Funding, basis, and open interest determine how fragile the price becomes during small moves. When positioning builds in one direction, small spot moves can trigger liquidations, forced hedging, or dealer flows. That accelerant effect becomes louder when ETF flows stop acting as a stabilizer. The combination of ETF outflows and crowded positioning is a setup that can leave the market primed for volatility.

Medium horizon: macro sensitivity. A market anchored by ETFs and institutional wrappers tends to respond more to rates, real yields, and broad risk appetite, because the marginal allocator sits inside the same portfolio framework as equities and credit. To use this, you only need to track whether BTC behaves like a rates-sensitive risk asset during a week when ETF flows go quiet.

Background conditions: liquidity. Depth, spreads, and stablecoin flows determine how easily the market absorbs demand. When natural spot demand is intermittent, liquidity becomes the difference between a normal pullback and a sudden vacuum. ETF flows are useful precisely because they sit alongside derivatives and market-wide dashboards, which makes it easier to connect them to broader positioning and liquidity context.

Overrides: narrative shocks. Regulation headlines, sovereign actions, security events, and major corporate decisions can override any flow regime for a week. In a fatigue phase, these shocks can carry more weight because the baseline bid feels less dependable. The market starts asking a harsher question: if flows stay flat, what else can justify a breakout?

A three-scenario playbook for a post-flow weekThere's a very practical way to understand and stay on top of ETF fatigue. There are a few different ways for it to play out, so when it does, it's useful to think of them as scenarios and then look for confirmation in the other engines.

Scenario A: Flows re-accelerate

What flows look like: multiple strong green prints, with the 7-day average turning decisively higher.What price tends to do: upside grind with calmer pullbacks as the market trusts repetition.What to watch: whether derivatives froth stays contained as price trends.Scenario B: Flows stay flat

What flows look like: net flows hover around zero across several sessions.What price tends to do: range trade with air pockets, especially during off-hours liquidity.What to watch: derivatives as the warning system. Funding flipping positive while price fails to break higher can point to a crowded long. Funding turning negative while price holds can point to bearish positioning that lacks follow-through.Scenario C: Flows turn persistently negative

What flows look like: repeated red prints with a clearly negative weekly total.What price tends to do: higher volatility and faster drawdowns when weak spot demand meets one-sided leverage.What to watch: outflow streak framing and reflexive selling risk during liquidity thin spots.Each scenario can coexist with the same daily headlines. The main difference lies in persistence and in whether the other engines confirm what the flows are showing.

What to watch next weekStart with the 7-day average of ETF flows rather than single prints and pair it with derivatives positioning. See whether funding stays one-sided, whether open interest expands into a range, and whether basis grows in a way that reflects leverage rather than hedging.

Then check liquidity behavior: whether spreads widen during stress and whether wicks become more frequent around key levels, a common symptom when the natural bid weakens and liquidity thins.

ETF fatigue doesn't mean that ETFs are failing; it's a natural consequence of the market growing up around them. The wrapper flows taught traders to read a simple scoreboard. The next phase asks for a deeper reading: flows as confirmation, positioning as accelerant, macro as gravity, and liquidity as the difference between a routine pullback and a sudden vacuum.

In this phase, flows confirm, positioning accelerates, and liquidity decides how far it goes.

Posted in

TLDR: A single $618,000 BTC-to-USDC swap on THORChain exposed every transaction detail to the public in real time.
GemWallet’s 50 basis point fee was written directly into the transaction memo, visible on-chain to anyone worldwide.
THORChain allows users to swap assets without creating an account, submitting an ID, or seeking any permission. Every swap ever executed on THORChain remains permanently traceable, dating all the way back to its first transaction. THORChain recently showcased blockchain transparency through a live transaction on its network. A user swapped 8.99 BTC, worth roughly $67,393, for 611,637 USDC in under 17 minutes.

The swap totaled approximately $618,000 moving across chains. Every detail of this trade remained publicly visible to anyone with an internet connection.

What the Transaction Revealed About On-Chain Visibility THORChain shared the transaction publicly, noting that every detail was traceable without any permission required.

The sending wallet address, destination address, exact amounts, fees, and processing time were all recorded permanently on a public blockchain. No compliance department or regulatory body controls access to this data.

The transaction memo also showed that GemWallet processed the swap and charged 50 basis points as a service fee.

That fee was written directly into the transaction instructions, not buried in a terms of service document. Anyone on earth could verify this at the moment it happened.

THORChain posted about the event, stating: “There is no compliance department to call, no freedom of information request to file, no company deciding what data you are allowed to see.”

People talk about blockchain transparency as an abstract concept, but rarely show what it actually looks like in practice.

So let us walk you through a real transaction happening on THORChain.

Someone just swapped 8.99 $BTC for 611,637 $USDC, around $618,000 moving across… pic.twitter.com/McqtXqktYu

— THORChain (@THORChain) February 22, 2026

This reflects a core design principle of public blockchain infrastructure. The data exists on-chain and remains accessible indefinitely.

This level of auditability extends beyond a single transaction. Every swap ever executed on THORChain traces back to the network’s first transaction, all publicly accessible without creating an account or submitting identification documents.

How THORChain Contrasts With Traditional Financial Systems THORChain draws a direct comparison between its model and traditional finance. In conventional systems, users cannot meaningfully audit the infrastructure they trust with their money.

Access also requires clearing increasingly complex identity verification processes before any transaction can occur.

According to THORChain, opacity and gatekeeping come bundled together in traditional finance. Users are told this is simply how financial infrastructure must function. The protocol presents itself as evidence that this assumption does not hold.

The protocol operates under a model where full transparency and permissionless access coexist by default. A user can make a swap without asking anyone for permission, without creating an account, and without submitting any identification. Both features run simultaneously within the same system.

THORChain noted: “Full transparency and no gatekeepers are not mutually exclusive. They can coexist, and on a public blockchain they do by default.”

This positions the network as a functional alternative to systems where financial data remains controlled and access remains conditional. The transaction itself serves as a working example rather than a theoretical argument.

3 mins mins

Saylor: MicroStrategy holds 717,131 BTC; buying to continueMicroStrategy now holds 717,131 BTC after purchasing 2,486 BTC for $168.4 million, as reported by CryptoRank. The update reinforces michael saylor’s ongoing accumulation strategy around the company’s bitcoin treasury.

Prior commentary had cited roughly 714,644 BTC with an average cost near $76,056 per coin before the latest purchase, according to Investing.com. The subsequent addition lifts reported holdings and underscores management’s stated intent to keep adding over time.

Why it matters: debt, refinancing stance, and risk toleranceSaylor has articulated a refinancing-over-selling stance and indicated the company would endure significant bitcoin drawdowns by extending obligations rather than liquidating core holdings, as reported by Barron’s. That posture implies a willingness to accept equity volatility in exchange for long-horizon bitcoin exposure.

Observers describe the liability side as long-dated and largely in convertible-note form, limiting margin-call dynamics relative to collateralized loans, according to CCN. In practice, that structure gives management time to manage liquidity and capital access through cycles, though it concentrates performance risk in bitcoin.

BingX: a trusted exchange delivering real advantages for traders at every level.

At the time of this writing, MSTR most recently closed at $131.05 on February 20, based on data from Yahoo Finance. Near-term trading will likely continue to reflect bitcoin volatility, funding conditions, and sentiment toward leveraged bitcoin proxies.

MicroStrategy’s equity can trade at a premium or discount to the net asset value (NAV) of its bitcoin holdings due to embedded leverage, equity optionality, and capital-raising flexibility. When sentiment weakens or dilution risk rises, that premium can compress into a discount.

Bitcoin recently dipped below $68,000 amid volatility, as reported by Coingape. Such moves can quickly alter perceived upside from leverage, changing the gap between NAV and market capitalization for MSTR.

Analyst reactions to Michael Saylor Bitcoin strategy and MSTRSupportive views and nuanced confidence in long-term thesisSome brokers have tempered expectations while maintaining confidence in the long-term thesis. Cantor Fitzgerald, for example, materially trimmed its 12‑month target but kept a positive rating on the shares, as reported by the Financial Times.

Others argue that a stock premium over bitcoin NAV can be rational if the company increases bitcoin per share and manages capital adeptly. “Not unreasonable,” said Adam Back, CEO of Blockstream, as reported by Cointelegraph.

Critical flags: index risk, dilution, concentration, sentimentSkeptics highlight concentration in bitcoin, potential exclusion from major indices, and the possibility of forced selling by benchmarked funds if that occurs, according to Forbes. They also flag that equity, debt, or preferred issuance at unfavorable terms could dilute shareholders if the NAV premium narrows.

Wealth managers have questioned whether repeatedly issuing securities to buy bitcoin ultimately destroys value if bitcoin underperforms. Ross Gerber has been particularly critical of the model’s sustainability, as reported by TheStreet.

FAQ about Michael Saylor BitcoinIf Bitcoin drops sharply, will MicroStrategy sell or refinance, how does its debt structure work?Saylor indicates refinancing over selling, even in deep drawdowns. Debt is largely long‑dated convertibles with few margin calls, so liquidity pressure is time‑managed, not immediate.

Why does MSTR trade at a premium or discount to its Bitcoin net asset value (NAV)?Premium reflects leverage, corporate optionality, and investor demand; discounts emerge when sentiment weakens, dilution risk rises, or BTC underperforms relative to embedded leverage in the equity.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Journalist

Posted: February 23, 2026

The final week of February is here, and the crypto market is still under pressure. It continues to struggle, and this is clearly reflected in the latest ETF data.

Bitcoin ETFs saw $315.9 million in outflows this week, with $303.5 million coming from BlackRock’s IBIT. Meanwhile, Grayscale’s BTC Mini ETF attracted $36 million, offering lower-cost Bitcoin exposure for cautious investors.

Bitcoin ETF analysis As per Farside Investors data, mid-February was a tough period for Bitcoin [BTC] ETFs, as big investors pulled money out for three days in a row.

The selling started on the 17th of February, when the market saw $104.9 million leave.

Source: Farside Investors

Most of this came from BlackRock’s IBIT, which alone lost $119.7 million. Grayscale’s BTC Mini ETF tried to balance this with $36 million in new money, but overall, investors were still heading for the exit.

The situation got worse over the next two days. On 18th February, outflows grew to $133.3 million.

Then on the 19th of February, they jumped again to $165.8 million. Once more, BlackRock led the selling, with $164.1 million leaving IBIT on that single day.

But things changed at the end of the week.

On the 20th of February, Bitcoin ETFs finally saw money come back in, with $88.1 million in net inflows. IBIT also reversed its trend and became the biggest contributor, adding $64.5 million. 

The altcoin paradox While Bitcoin ETFs were getting most of the attention, the altcoin ETF market was telling a very different story about what big investors currently prefer.

Ethereum followed a pattern similar to Bitcoin, but showed less weakness. It started the week well on the 17th of February, with $48.6 million in new inflows, mainly driven by BlackRock’s ETHA fund.

However, this positive momentum did not last long. By the 19th of February, Ethereum [ETH] ETFs saw a huge outflow of $130.1 million. Out of this, nearly $97 million came from BlackRock alone.

The situation ended on the 20th of February, when ETH ETFs recorded zero net flows, meaning no new money came in and none left. 

Solana is an exception In contrast, Solana became the top choice for institutional investors. Despite market caution, Solana ETFs have seen steady inflows since the 9th of February.

Between the 17th and 20th of February, Solana [SOL] kept attracting steady inflows. The highest point came on the 19th of February, when $6 million entered the ecosystem in a single day.

Bitwise led in total weekly volume with $11.7 million, while BlackRock’s BSOL fund supported the rally with consistent daily inflows.

At the same time, the Ripple [XRP] ETF market showed a very cautious approach. It started quietly and saw a small drop of $2.21 million on the 18th of February.

On 19th February, it briefly recovered with $4.05 million in inflows, but this did not last. By 20th February, activity slowed again and returned to almost zero.

What’s more? Overall, the crypto ETF market is becoming more divided. Bitcoin and Ethereum are facing more pressure, while newer assets like Solana are gaining momentum.

This shift was clear on 17th February, when T. Rowe Price announced plans for an Active Crypto ETF that includes not just Bitcoin and Ethereum, but also Litecoin [LTC], Solana, and Cardano [ADA].

This move is important because it shows that big financial firms now see crypto as a serious investment space. Instead of treating it as a risky experiment, they are building strong products that include multiple digital assets.

Final Summary Heavy outflows from BlackRock’s IBIT suggest that institutions are reducing risk during uncertain economic conditions. Overall, the crypto ETF market is becoming more segmented, with different assets attracting different types of investors.

Journalist

Posted: February 23, 2026

Ethereum’s decline unfolded progressively as macro pressure, leverage unwinds, and thinning liquidity weighed on price structure.

As downside momentum accelerated, Ethereum [ETH] slipped below the $1,980 threshold on the 21st of February, compressing profitability across major holder groups.

This breakdown did not occur in isolation; it followed sustained distribution, derivatives deleveraging, and reduced risk appetite across large balance sheets.

As prices weakened, unrealized losses spread simultaneously across all whale cohorts, from 1,000–10,000 to 100,000+ ETH wallets.

Spot now trades below the $2,075 mega-holder cost basis, confirming losses even among the largest addresses.

Source: CryptoQuant

Long-term holders  hovers near breakeven, while short-term cohorts remain deeply underwater near 0.5.

Despite this pressure, on-chain positioning shows restrained sell behavior. Realized cap trends indicate whales are largely holding rather than distributing, suggesting strategic absorption.

Historically, such cohort-wide stress reflects conviction testing, where unrealized pain precedes accumulation-led bottom formation rather than structural exit.

Vitalik’s sales re-emerge amid broader whale loss pressure Liquidity absorption trends continued to develop even as founder-linked wallets returned to distribution flows. This activity did not begin recently.

A fortnight earlier, Vitalik had already conducted smaller ETH sales, forming a staggered disposal pattern rather than a single liquidation event.

The latest withdrawal of 3,500 ETH, worth approximately $6.95 million, from Aave [AAVE] therefore reflects continuation, not sudden capitulation.

Source: LookOnChain

This pacing differs from distress selling, where large volumes typically hit exchanges quickly. Instead, collateral withdrawals suggest treasury rebalancing or liquidity repositioning.

These flows also align with rising unrealized losses across whale cohorts. However, on-chain positioning shows limited aggressive distribution.

The activity therefore reflects cautious loss management rather than a panic exit.

While founder sales can influence sentiment, their scale here signals measured portfolio adjustment within a fragile market environment.

Kalshi markets price heavy on ETH weakness

Journalist

Posted: February 23, 2026

The market looked calm on price. However, dominance charts hinted at stress building underneath.

USDT Dominance climbed toward a four-year resistance level. At the same time, BTC Dominance rolled over after forming a rising wedge.

Altseason 1.0 unfolded in 2017. Altseason 2.0 followed in 2020–2021. As we progress into 2026, traders question whether 3.0 is taking shape. What does the data actually show?

USDT.D met the ceiling USDT Dominance reached 9%, the same resistance that marked cycle turning points in June and November 2022. The weekly chart printed a sharp upper wick, confirming rejection rather than continuation.

Source: ParaboliXBT on X

RSI climbed near 78, clearly overbought on the weekly timeframe. Historically, such readings at multi-year resistance did not sustain.

Therefore, the rejection carried structural significance.

In particular, the previous 9% rejections preceded strong moves back into risk assets. Stablecoin demand appeared stretched. This suggested capital was crowding into safety too late.

BTC.D wedge broke, but needs follow-through BTC Dominance formed a rising wedge on the weekly chart. Price then broke below the wedge’s lower trendline.

Source: TradingView

The latest candle closed near 58.99%. That marked a pause after the wedge’s topping structure.

Momentum indicators also softened. MACD lines curled down, with the blue line under the signal.

RSI cooled too. The panel showed RSI near 61.03, with its average near 53.05.

By contrast, a quick reclaim of wedge support would weaken the bearish read. That would also delay rotation narratives.

This kept the dominance setup on a knife-edge.

Sentiment stayed fragile Sentiment hit extreme fear levels in February, matching the panic during the COVID crash and the FTX collapse.

Bitcoin [BTC] fell as much as 51% from its October 2025 peak and now trades roughly 46% below that high, reflecting broad market stress.

Source: X

Historically, extreme fear has surfaced near major opportunity zones rather than lasting market tops. Therefore, the emotional capitulation aligned with weakness already visible across dominance charts.

Panic selling intensified as confidence faded across the broader crypto market. That environment often marked the final wave of sellers before a meaningful shift unfolded.

Altseason checklist for 2026 For an altcoin rotation to build, two things usually need to hold.

First, USDT Dominance must keep slipping from resistance. Second, BTC Dominance must stay heavy after the wedge break.

If both weaken together, liquidity may rotate into higher beta names. If either rebounds, the setup may reset.

That kept “altseason 3.0” as a live thesis, not a done deal.

Final Summary USDT Dominance rejected near 7.96% resistance with RSI at 78.75, signaling stretched defensive positioning that may unwind if follow-through selling appears. BTC Dominance broke a rising wedge and hovered near 58.99%; sustained weakness in both dominance charts could open room for altcoin outperformance.

Bitcoin price action is tightening within a narrow range, placing the leading cryptocurrency at a pivotal technical moment that could shape market direction in the coming weeks. After a sharp decline from recent highs, BTC has entered a consolidation phase marked by a narrowing triangle pattern, often viewed by traders as a precursor to a significant breakout or breakdown.

Currently trading in the mid-$60,000 range, Bitcoin remains below key moving averages, reinforcing the broader bearish trend. Multiple failed recovery attempts have weakened bullish momentum, signaling hesitation among buyers. However, instead of plunging further, BTC is forming higher lows against relatively flat resistance, creating a coiling effect that reflects mounting pressure between buyers and sellers.

This tightening price structure highlights growing market uncertainty. Sellers continue to cap upward movement near resistance, while buyers defend short-term support levels. Such triangle formations typically resolve with strong volatility, and frequent tests of the lower boundary increase the risk of a downside break. If Bitcoin falls decisively below support, stop-loss orders could accelerate selling pressure, potentially driving the price toward the low-$60,000 area, where buyers previously stepped in during the last major sell-off.

On the other hand, a confirmed breakout above triangle resistance would invalidate the immediate bearish outlook and open the path toward higher resistance zones. For bulls to regain control, Bitcoin must reclaim key technical levels and sustain upward momentum.

At this stage, BTC is balanced between exhaustion and continuation. The current consolidation zone serves as a real-time decision point for the broader crypto market. Whether Bitcoin breaks upward or downward from this pattern will likely set the tone for overall cryptocurrency sentiment and short-term market trends.

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XRP is emerging as a dominant crypto talking point after bitcoin, with Grayscale reporting sustained advisor demand and expanding regulated investment products that deepen market access and liquidity for the digital asset across traditional brokerage platforms.