Market Signal Briefing

📊
No votes yet – Be the first to vote

Strategy Inc. got hammered yesterday. The software company’s shares dropped 15% to $28 as Bitcoin crashed to its lowest point in three months, dragging down firms with heavy crypto exposure across the board.

The U.S.-based company, which holds over 130,000 Bitcoins worth roughly $4.5 billion at current prices, reported a brutal $24 million quarterly loss on February 5, 2026. That’s a massive swing from the $10 million profit they posted in the same quarter last year. CEO Michael Evans blamed half the loss on Bitcoin’s wild price swings, with the rest coming from higher operating costs that keep piling up.

Bitcoin’s having a rough week.

The cryptocurrency plunged 20% in just seven days, hitting $34,000 and sending shockwaves through companies that bet big on digital assets. Regulatory crackdowns in the U.S. and Europe are spooking investors, with the SEC tightening controls on crypto exchanges and European authorities cooking up stricter trading rules. But Evans isn’t backing down from his Bitcoin strategy, calling it a “strategic asset” despite the bloodbath.

“We believe in Bitcoin’s potential,” Evans said during the earnings call, though his optimism didn’t stop investors from running for the exits. Trading volume surged as shares opened down from $33 the previous day, pretty much reflecting broader skepticism about crypto’s place in corporate treasuries. And Strategy Inc. isn’t alone in feeling the pain – NextGen Solutions dropped 12% while Tech Innovators fell 14%, both citing Bitcoin’s collapse as a major factor.

Financial analyst Lisa Chen thinks Strategy Inc. is playing with fire. “Bitcoin’s sharp price swings can significantly impact a company’s balance sheet,” she warned, pushing for a more diversified approach to dodge the risks that come with crypto investments. The company’s heavy reliance on volatile digital assets has investors seriously worried about what comes next.

Regulatory pressure keeps mounting.

The SEC’s recent crackdown on unregistered crypto exchanges created massive uncertainty, while European regulators are exploring even tougher rules for digital asset trading. Evans sees the regulatory push as good news, arguing that “we welcome clear guidelines” because they’ll give cryptocurrencies more legitimacy in the long run. But shareholders aren’t buying it – they want answers at next month’s meeting about the company’s crypto strategy and diversification plans.

Strategy Inc. announced on February 10 that it’s reassessing its Bitcoin approach after the recent market chaos. CFO Sarah Thompson said they’re exploring ways to hedge against Bitcoin’s volatility, though she didn’t spell out specific strategies. The stock managed a slight recovery to $27.50 by February 9, but trading volumes stayed high, showing continued investor uncertainty about those massive crypto holdings.

The board called an emergency meeting for February 15 to evaluate how cryptocurrency market swings are hitting the company’s financial health. They’re also looking at potential changes to asset management policies, with board member David Lee mentioning a possible partial sale of Bitcoin holdings by March. “We’re evaluating all options to ensure sustainable growth,” Lee said, hinting that the company might finally diversify beyond crypto.

Wall Street analysts are taking notice. Morgan Stanley downgraded Strategy Inc. from “buy” to “hold” on February 13, citing the firm’s crypto exposure as a major risk factor. The company also partnered with Greenfield Advisors to explore alternative investments beyond cryptocurrencies, with Thompson stressing the need to diversify the asset portfolio and stabilize performance amid all this market turbulence.

The upcoming shareholder meeting on March 5 can’t come soon enough for nervous investors. They’re desperate to hear how Strategy Inc. plans to navigate these choppy waters and whether the company will stick with its Bitcoin-heavy strategy or finally pivot to safer ground. With regulatory investigations ongoing and no formal communication from authorities about the firm’s crypto investments, Strategy Inc. finds itself in a waiting game that’s costing shareholders millions.

The SEC hasn’t provided any comment on its ongoing crypto investigations.

Strategy Inc.’s crypto troubles mirror a broader corporate retreat from Bitcoin treasuries that started gaining momentum in late 2025. Tesla sold 75% of its Bitcoin holdings last quarter, while Square reduced its position by 40% amid similar volatility concerns. MicroStrategy, once the poster child for corporate Bitcoin adoption, saw its shares lose 35% of their value over the past six months as institutional investors grew wary of crypto-heavy balance sheets.

Market data shows that companies with significant Bitcoin exposure have underperformed the S&P 500 by an average of 18% this year. Goldman Sachs analysts estimate that roughly $12 billion in corporate Bitcoin holdings across 47 publicly traded companies could face further pressure if regulatory uncertainty persists. Meanwhile, venture capital firm Andreessen Horowitz reduced its crypto fund allocations by 30% in January, signaling that even crypto-native investors are becoming more cautious about digital asset volatility in corporate portfolios.

Post Views: 1

Crypto expert Tony Severino has opined that Bitcoin isn’t just showing signs of a yearly top but also that the BTC price may have hit a 16-year cyclical peak. This comes amid the flagship crypto’s recent crash to $60,000, which sparked fears of a bear market.

Bitcoin May Be Showing Signs Of A Peak Amid BTC Price Crash To $60,000 In an X post, Severino alluded to the yearly Bitcoin chart, which he said looks like a 16-year cyclical peak rather than just a yearly top. The expert also outlined several reasons this appears to be a major cyclical top for the BTC price. First, he noted that the white candlesticks have been decreasing in size over time, while black candlesticks engulf more white candles with each appearance. 

Furthermore, Severino highlighted the Doji at the top of a rising wedge pattern while the Evening Star is in progress, which is a bearish reversal signal for the BTC price. Meanwhile, the Fischer Transform is crossing bearish with divergence, and the Stochastic is crossing bearish after being rejected from 80. He added that Bitcoin’s Relative Strength Index (RSI) is falling back below 70 after making it above this level on the highest timeframe chart. 

Source: Chart from Tony Severino on X His analysis comes as the BTC price continues to decline, suggesting the crypto market may be in a bear market after topping last October. Bitcoin dropped to as low as $60,000 earlier this week, suffering its largest daily decline since the FTX collapse. Veteran trader Peter Brandt has also opined that Bitcoin is in a bear market, predicting that it could still drop to as low as $42,000 before it sees a bottom. 

Reason For The Recent BTC Crash BitMEX co-founder Arthur Hayes has commented on the reason for this recent Bitcoin crash, suggesting that it was due to external factors rather than part of an ongoing bear market. In an X post, he stated that the BTC price dump was probably due to a dealer hedging off the back of BlackRock’s BTC ETF structured products. Notably, BlackRock’s IBIT saw a record trading volume of $10 billion on the day of this crash to $60,000. 

Hayes’ comment comes on the back of Bitcoin’s rebound above $70,000, with the flagship crypto recording one of its largest ever daily gains yesterday following the crash to $60,000. Galaxy Digital’s Head of Research, Alex Thorn, suggested that the drop to $60,000 may mark the bottom for the BTC price. This came as he noted that the 200-week MA, which is around $60,000, has historically been a strong entry point for long-term investors. 

At the time of writing, the BTC price is trading at around $70,000, up over 6% in the last 24 hours, according to data from CoinMarketCap.

BTC trading at $68,437 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pngtree, chart from Tradingview.com

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In line with its bearish market structure, the Ethereum price struggled significantly in the first week of February. The cryptocurrency’s value fell by more than 30% over the week, crashing to as low as $1,850 on Friday, February 6. Amid the Ethereum market downturn, a significant development has emerged — one which could make or mar the world’s second-largest cryptocurrency.

Ethereum Breaches Realized Price Across All Investor Cohorts In a recent post on Quicktake, on-chain analyst MorenoDV shared a shocking development within the Ethereum network. The analyst highlighted that the Ethereum price recently slipped below the cost basis of multiple investor groups. 

The revelation is based on the Realized Price by Balance Cohorts metric, which monitors the average on-chain cost basis of Ethereum holders. The metric groups these investors by wallet size, showing where these cohorts are holding profitably or running at losses. 

Source: CryptoQuant In the chart above, we see the Ethereum price break beneath multiple cost bases (represented with yellow, green, blue, and purple lines). The most striking, however, is the loss of the realized price of the largest holders (with 100k ETH and above stored), which stands at around $2,074. 

Historically, the realized price of this investor class (with more than 100k ETH in holdings) has taken on dual roles for the Ethereum price, depending on its trajectory. According to data from 2019, mid-2020, and late 2022 price actions, whale realized price typically takes on a role of formidably resisting price during downtrends; during uptrends, it interestingly acts as reliable support. 

Hence, at periods where the Ethereum price stabs through the whale realized price to the downside, MorenoDV explained that two potential paths typically emerge. In his words: “either a violent snap-back rally as the level flips to support (2020, 2022), or further capitulation into multi-year lows (2018-2019).”

Major ETH Price Levels To Watch Because the Ethereum price went through all investor cohorts’ realized prices at the same time, there is something worth noting here. MorenoDV pointed out that smaller holders collectively have their realized prices between the $2,534 – $2,675 range.

Thus, should the Ethereum price attempt to recover previous legs, the $2,534–$2,675 price range will pose significant resistance to that effort. However, the aforementioned range is not the most critical one for the Ethereum price. 

The analyst highlighted the whale cohort’s realized price, which is approximately $2,074 — to be the most critical for the Ethereum price. Following previous extrapolations, a reclamation of this level would likely follow historical trends and push prices upwards, while failure to retake this level within a period of 30 – 45 days would precede significant drawdowns.

In the event that the latter scenario holds true, the Ethereum price could swiftly fall to $1,800, or even lower. If price breaks beneath $1,800 and is sustained below this level, MorenoDV hypothesizes that this could lead Ethereum to the $1,600–$1,300 levels.

As of this writing, Ethereum stands at a valuation of $2,030, reflecting an over 7% jump in the past 24 hours. 

The price of ETH on the daily timeframe | Source: ETHUSDT chart on TradingView Featured image from iStock, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

In brief Released files related to convicted sex offender and financier Jeffrey Epstein contain numerous crypto mentions. New revelations show correspondence with notable early crypto builders and backers. Other files point to Epstein's early investments into notable crypto companies. A search through the trove of files related to convicted sex offender Jeffrey Epstein provides thousands of results related to crypto and Bitcoin, highlighted by Epstein’s early involvement and awareness of notable crypto projects and protocols.

Over the course of the week, Decrypt has highlighted some of the largest stories that emerged from the millions of files released last week by the Department of Justice, including how Epstein invested in Coinbase and Bitcoin firm Blockstream, and had a very close relationship with Tether co-founder Brock Pierce.

But there’s plenty more in the files, including references to major crypto players like Ethereum co-founder Vitalik Buterin and Strategy co-founder and Executive Chairman Michael Saylor. Here’s a look at the most surprising crypto mentions from both batches of the Epstein files released by the Department of Justice.

Coinbase investmentJeffrey Epstein was an early investor in publicly traded crypto exchange Coinbase, new emails show. 

The convicted sex offender invested $3 million in 2014 and was introduced to the opportunity by Tether co-founder Brock Pierce and his investment firm, Blockchain Capital. However, Blockchain told Decrypt that Epstein ultimately invested independently, not through the firm.

Based on the emails, it's apparent that Coinbase co-founder Fred Ehrsam was personally aware of the investment, which came years after Epstein’s conviction. The investment was made when Coinbase was valued around $400 million; the publicly traded company is now worth $44 billion. 

In 2018, Epstein sold around half of his investment back to Blockchain Capital, emails show.

Bitcoin, crypto taxesEpstein was seeking clarification about Bitcoin regulation and taxes as early as 2018, emails from the first trove of files released by the Department of Justice revealed. 

In conversation with former Trump strategist Steve Bannon, Epstein suggested that the Treasury Department should create a voluntary disclosure form for crypto gains in an attempt to “fuck all the bad guys.”

Later that year, Epstein noted that crypto should be thought of similarly to the internet, and handled with “coordinated understandings” and international agreements. 

Brock Pierce and EpsteinTether co-founder Brock Pierce communicated with Epstein on multiple occasions about cryptocurrency and women, with all correspondence taking place after Epstein’s 2008 conviction, according to the latest batch of files released by the Department of Justice. 

At one point, Pierce told Epstein that “he had a great time with the girls,” and Epstein also instructed the crypto entrepreneur to “find him a present” when he was traveling abroad.  

Furthermore, Epstein communicated to both sides of an alleged relationship that Pierce had with an individual that Epstein called “his assistant.” The individual allegedly declined a marriage proposal from Pierce.

Files also uncovered a meeting at Epstein’s Manhattan townhouse between Tether co-founder Brock Pierce and former Harvard President Larry Summers. 

The two apparently utilized the disgraced financier's dwelling to chat about Bitcoin, with Summers noting that he saw “opportunities,” but was concerned about the potential damage to his reputation that Bitcoin losses could create.

Blockstream investmentEpstein was an investor in Bitcoin infrastructure firm Blockstream, according to newly revealed emails and a confirmation from early Bitcoin developer and Blockstream co-founder Adam Back. 

“Blockstream met with Jeffrey Epstein, who was described at the time as a limited partner in [Joi] Ito’s fund,” wrote Back. “That fund later invested a minority stake in Blockstream.”

The longtime Bitcoiner and his Blockstream co-founder Austin Hill were also both invited to Epstein’s island in 2014, according to newly revealed files from the DOJ. But whether or not the trip ever happened is unclear from the emails, and Back did not respond to Decrypt’s request for comment.

In his confirmation of Epstein’s investment, the Blockstream co-founder added that the firm “has no direct nor indirect financial connection with Jeffrey Epstein, or his estate” at present time. 

A Bitcoin core developer and former contributor to Blockstream urged Back to resign this week after the new files were released. 

Epstein and Thiel talk Bitcoin narrativeA 2014 email from Jeffrey Epstein to famed tech investor Peter Thiel questioned Bitcoin’s narrative. 

“There is little agreement on what Bitcoin is,” wrote Epstein. “Store of or intrinsic value, (if any) currency, property, architecture, payment system. Etc.” 

The reply followed a question from Thiel about an increasing “anti-BTC pressure” that might be growing within the U.S. government. 

At the time, Bitcoin was trading around $691 per coin. It’s since jumped dramatically, recently trading around $70,000 after peaking above $126,000 last October.

Michael Saylor slammedBitcoin bull and Strategy Executive Chairman Michael Saylor was called a “creep” by Epstein’s publicist Peggy Siegal in an email to the convicted sex offender in 2010. 

“He has no personality. Sort of like a zombie on a drug,” wrote Siegal of Saylor. “I walked him around and he was so weird that even I ran away from him.” 

According to the email, Saylor provided $25,000 for a spring gala for the "opportunity to get his name on [the] invite and meet a hip group.”

The email was sent more than a decade before Saylor’s software firm would make its first BTC purchase, with the firm amassing nearly $50 billion worth of the asset and inspiring a wave of followers to adopt a crypto treasury model.

Questionable ethicsDespite his 2008 conviction for procuring a child for prostitution and soliciting a prostitute, a decade later, Epstein was concerned about the ethics of funding projects in the crypto space. 

“I am more than happy to fund things but as I am high-profile, it can’t be questionable ethics,” Epstein wrote in an email to Bitcoin researcher Jeremy Rubin, who replied telling the financier that there’s a “grey area between pump and develop.” 

“Their deal is to pump the currency,” said Epstein of investors in the space. “It is dangerous.”

A “better” Vitalik ButerinEthereum co-founder Vitalik Buterin’s name is found in the Epstein files, but not as a result of any direct connections or correspondence with the disgraced financier. 

Instead, the latest batch of emails shows an email Epstein received from Masha Drokova that highlights that the Russian investor had found a “super smart and young blockchain enthusiast in Russia.” 

“He can be better than Vitalik Buterin if he focuses on technology,” Drokova added. 

Although she offered to connect Epstein to the Russian individual, it is not clear who the technologist was, or whether or not they were ultimately linked to Epstein.

Daily Debrief NewsletterStart every day with the top news stories right now, plus original features, a podcast, videos and more.

Dogecoin has triggered a TD Sequential buy signal on its daily chart as the price approaches $0.095, marking a potential shift in market dynamics. The signal emerges after prolonged selling pressure that has gradually diminished over recent weeks.

The cryptocurrency has declined steadily since its September peak. Recent price action displays shorter candle bodies and reduced momentum, indicating possible seller fatigue. However, technical analysts warn that this development does not signal a trend reversal.

At press time, DOGE trades near $0.09835 following a 0.08% decline in the past 24 hours. This bounce reflects a reaction to established support levels rather than a fundamental change in market structure.

Price Remains Trapped Within Descending ChannelThe asset continues moving within a descending regression channel that has governed price action for several months. This pattern limits upside potential while providing structural boundaries for trading activity.

Support currently holds at $0.080, a zone where previous selloffs lost momentum. This level represents critical defense for bulls attempting to prevent further deterioration.

Above current levels, resistance sits at $0.117. This threshold has rejected multiple recovery attempts since November. Traders view this level as essential for any sustainable reversal. Breaking above it could open the path toward $0.153, which aligns with the channel's upper boundary and previous distribution zones.

The TD Sequential indicator operates as a momentum tool that identifies potential exhaustion points. While useful for timing entries, it does not override prevailing trend direction. The signal suggests reduced selling intensity rather than imminent bullish control.

On-Chain Metrics Point to Accumulation BehaviorSpot Taker Cumulative Volume Delta remains positive despite extended price weakness. Aggressive buy orders continue exceeding sell orders, demonstrating persistent demand at lower price levels.

This metric reveals market participants are absorbing available supply rather than liquidating positions. The pattern contrasts sharply with panic selling episodes where CVD typically turns sharply negative.

Buyers are not aggressively pushing prices higher. Instead, they enter positions methodically as sellers reduce activity. This dynamic supports the notion of quiet accumulation through absorption rather than speculative enthusiasm.

Exchange netflow data reinforces this narrative. DOGE recorded approximately $7.7 million in outflows recently. Tokens leaving exchanges during weakness suggests holders are moving assets to cold storage rather than preparing for distribution.

Reduced exchange supply limits immediate selling pressure. However, these flows do not confirm aggressive institutional accumulation. They simply indicate diminished willingness to sell into current price levels.

Combined with positive CVD readings, these conditions reduce the probability of forced liquidation cascades. Absent new catalytic selling events, downside acceleration appears less likely from current levels.

Open Interest rose over 5% to approximately $1.04 billion while price remains compressed. This increase indicates traders are adding leveraged positions near support rather than closing exposure.

Rising OI without a directional breakout typically amplifies volatility risk. Both long and short positions appear active, suggesting market participants anticipate significant movement.

The current positioning creates elevated liquidation sensitivity. A decisive break above resistance or below support could trigger rapid, leverage-driven price expansion in either direction.

Funding rates remain near neutral, suggesting a balance between bulls and bears. Neither side has established clear dominance, contributing to range-bound conditions.

Journalist

Posted: February 8, 2026

SPX6900 [SPX], the Ethereum [ETH] network memecoin that is meant to be a parody of the S&P 500 index, has rallied 10.2% in the past 24 hours. The daily trading volume was not convincing either, down 38.2% from the previous day’s sizeable sell-off.

Over the past week, SPX has shed 8.79%, and was down 51.95% in 30 days. These figures might sound dreadful, especially if one is more used to trading and investing in traditional markets that the memecoin aims to flip in size one day, but they were the norm in the memecoin sector.

The sector’s market cap has fallen 35% in 30 days. The leader Dogecoin [DOGE] was down 33% in a month, giving context to the more volatile SPX performance.

The chances of an SPX resurgence Buyers beware. Short-term holders trying to flip an SPX bounce for profit could have a good time. Bitcoin [BTC] bounced 19.59% on the 6th of February, from $60k to $71.7k.

The memecoin rallied 41.15% on the same day, from $0.2214 to $0.3125.

Source: SPX/USDT on TradingView

The weekly swing structure remained bullish. The $0.2533 low from March 2025 has not been broken by a weekly session close below it. However, Bitcoin has a bearish weekly structure.

Buying SPX might seem like a steep discount right now, but there’s nothing to stop it from making new swing lows should BTC retreat to $60k or lower once again.

Should traders sell the bounce?

Source: SPX/USDT on TradingView

The past two months’ price action highlighted the $0.45 level as a prominent horizontal S/R level. In November and December, SPX bulls defended this support valiantly, but lost it in mid-January.

It marked the 50% retracement level for the latest bearish swing move on the daily timeframe. The technical indicators showed high selling pressure and firm downward momentum.

Traders can use a bounce to this level to sell the memecoin. It is possible, though unlikely, that the bounce might climb as high as $0.58-$0.678.

Therefore, investors need to be prepared for extreme volatility in either direction and keep an eye on BTC trends to assess what SPX is poised to do next.

Final Thoughts SPX6900, the traditional stock market index parody meme, has fallen to its 2025 swing low support. It was a risky buying opportunity with a high chance of failure, but it could reap high rewards. More risk-averse traders can wait for a retest of key resistances to sell. Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.

Akashnath S is a Senior Journalist and Technical Analysis expert at AMBCrypto. He specializes in dissecting price action, identifying key market trends through advanced chart patterns, and forecasting both short-term and long-term asset trajectories. His distinct analytical method is grounded in his academic training as a Chemical Engineer. This background provides him with a systematic, process-oriented approach to market data, enabling him to analyze the complex dynamics of financial markets with precision and objectivity. Having actively covered the cryptocurrency space since the landmark 2017 market cycle, Akashnath possesses years of experience navigating both bull and bear markets. This seasoned perspective is critical to his insightful reporting on market volatility and evolution. As an active market participant, Akashnath enhances his analysis with crucial, hands-on experience. This practical application of his technical skills ensures his insights are not merely theoretical, but are also relevant and actionable for an audience looking to understand and navigate trading opportunities. He is dedicated to educating readers on the nuances of technical analysis, empowering them with the knowledge to make more informed financial decisions.

SOL rebounds sharply from $67 to $85 as traders debate whether the rally marks a genuine reversal or trap

CFO Michaela Ware sold 5,000 shares for a total of ~$812,000 on Feb. 5, 2026, reflecting the SEC Form 4 weighted average price. The sale represented 17.74% of Ms.

SAN DIEGO, Feb. 07, 2026 (GLOBE NEWSWIRE) -- Robbins Geller Rudman & Dowd LLP announces purchasers or acquirers of Ultragenyx Pharmaceutical Inc. (NASDAQ: RARE) common stock between August 3, 2023 and December 26, 2025, both dates inclusive (the “Class Period”), have until April 6, 2025 to seek appointment as lead plaintiff of the Ultragenyx class action lawsuit. Captioned Bailey v. Ultragenyx Pharmaceutical Inc., No. 26-cv-01097 (N.D. Cal.), the Ultragenyx class action lawsuit charges Ultragenyx and certain of Ultragenyx’ top executives with violations of the Securities Exchange Act of 1934.

If you suffered substantial losses and wish to serve as lead plaintiff of the Ultragenyx class action lawsuit, please provide your information here:

https://www.rgrdlaw.com/cases-ultragenyx-pharmaceutical-inc-class-action-lawsuit-rare.html

You can also contact attorney J.C. Sanchez of Robbins Geller by calling 800/449-4900 or via e-mail at [email protected].

CASE ALLEGATIONS: Ultragenyx is a biopharmaceutical company that focuses on the identification, acquisition, development, and commercialization of novel products for the treatment of rare and ultra-rare genetic diseases.

The Ultragenyx class action lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) defendants created the false impression that they possessed reliable information pertaining to the effects of setrusumab on patients with variable types of Osteogenesis Imperfecta (“OI”), while also minimizing risk that patients in Ultragenyx’ Phase III Orbit study would fail to achieve a statistically significant reduction in annualized fracture rate (“AFR”), such that the second interim analysis could be performed and presented to the investing public; and (ii) in truth, Ultragenyx’ optimism in the Phase III Orbit study’s results and interim analysis benchmark were misplaced because Ultragenyx failed to convey the risk associated with basing such threshold figures on Phase II results that had no placebo control group for appropriate comparison and thus had not ruled out that the reduction in AFR from that study could merely be triggered by an increased standard of care and the placebo effect of being provided a novel treatment.

The Ultragenyx class action lawsuit further alleges that on July 9, 2025, Ultragenyx revealed that the Phase III Orbit study failed to achieve statistical significance for the second interim analysis and that Phase III Orbit and Cosmic studies would now be “progressing toward final analysis.” On this news, the price of Ultragenyx stock fell more than 25%, according to the complaint.

Then, on December 29, 2025, Ultragenyx announced that both its Phase III Orbit and Cosmic Studies had not “achieved statistical significance against the primary endpoints of reduction in annualized clinical fracture rate compared to placebo or bisphosphonates, respectively.” Ultragenyx allegedly attributed the study failure to a “low fracture rate in the placebo group” of Orbit and a trend that fell shy of statistical significance in Cosmic. On this news, the price of Ultragenyx stock fell more than 42%, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Ultragenyx common stock during the Class Period to seek appointment as lead plaintiff in the Ultragenyx class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. A lead plaintiff acts on behalf of all other class members in directing the Ultragenyx investor class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Ultragenyx shareholder class action lawsuit. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff of the Ultragenyx class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world’s leading complex class action firms representing plaintiffs in securities fraud and shareholder rights litigation. Our Firm ranked #1 on the most recent ISS Securities Class Action Services Top 50 Report, recovering more than $916 million for investors in 2025. This marks our fourth #1 ranking in the past five years. And in those five years alone, Robbins Geller recovered $8.4 billion for investors – $3.4 billion more than any other law firm. With 200 lawyers in 10 offices, Robbins Geller is one of the largest plaintiffs’ firms in the world, and the Firm’s attorneys have obtained many of the largest securities class action recoveries in history, including the largest ever – $7.2 billion – in In re Enron Corp. Sec. Litig. Please visit the following page for more information:

https://www.rgrdlaw.com/services-litigation-securities-fraud.html

Past results do not guarantee future outcomes. 
Services may be performed by attorneys in any of our offices. 

Contact:
        Robbins Geller Rudman & Dowd LLP
        J.C. Sanchez
        655 W. Broadway, Suite 1900, San Diego, CA 92101
        800-449-4900
        [email protected]

Explore how differences in cost, diversification, and holdings shape the appeal of these two popular U.S. equity ETFs for investors.

The State Street SPDR S&P 500 ETF Trust (SPY +1.92%) and the Vanguard Total Stock Market ETF (VTI +2.11%) are both designed for broad U.S. stock market exposure, but they differ in scope and cost.

SPY tracks the S&P 500 Index, focusing on large-cap companies, while VTI holds thousands of stocks across all market capitalizations, offering access to a more comprehensive slice of the U.S. market.

This comparison highlights the key differences to help investors weigh which may better fit their portfolio goals.

Snapshot (cost & size)MetricSPYVTIIssuerSPDRVanguardExpense ratio0.09%0.03%1-yr return (as of Feb. 5, 2026)13.13%12.43%Dividend yield1.05%1.10%Beta (5Y monthly)1.001.04AUM$709 billion$571 billionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

VTI is more affordable on fees, charging just one-third of SPY’s expense ratio. VTI also has a slight edge on dividend yield, making it appealing for both cost-conscious and income-seeking investors.

Performance & risk comparisonMetricSPYVTIMax drawdown (5 y)-24.50%-25.36%Growth of $1,000 over 5 years$1,764$1,656SPY has had a slightly milder maximum drawdown over the past five years and also outpaced VTI in cumulative growth, suggesting marginally stronger risk-adjusted results for large-cap-focused investors.

What's insideVTI casts a wide net, holding roughly 3,600 stocks and covering the full U.S. equity spectrum -- large-, mid-, and small-caps -- with a notable tilt toward technology (33%), financial services (13%), and consumer cyclical (10%).

Its largest positions are Nvidia, Apple, and Microsoft. The fund’s 24-year history and massive assets under management (AUM) contribute to its liquidity and stability, but its broad approach also exposes it to smaller, sometimes less liquid companies.

SPY, in contrast, focuses strictly on the S&P 500, heavily weighted toward technology (34%), financial services (13%), and communication services (11%). Its top holdings match VTI’s, but with slightly higher allocations.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsSPY and VTI both provide broad exposure to the overall market, and each has a distinct way to mitigate risk.

SPY focuses exclusively on large-cap stocks within the S&P 500, which can help reduce volatility. Large, industry-leading companies tend to be more stable than smaller corporations, especially during periods of economic turbulence.

VTI, on the other hand, encompasses the entire stock market, with around seven times as many holdings as SPY. It‘s tough to find a U.S. equities fund more diversified than VTI, and that broad diversification can also help manage volatility. If a few stocks — or even an entire sector — takes a turn for the worse, there are plenty of other holdings to prop up the fund.

Both ETFs have experienced similar one- and five-year total returns, though SPY has edged slightly ahead in both periods. SPY has also experienced marginally less volatility, with a milder maximum drawdown and a lower beta. The figures are so similar, though, that investors may not notice a meaningful difference between the two.

Investors looking for pure large-cap exposure may find SPY’s more concentrated approach appealing, while those seeking total market breadth may prefer VTI’s reach.

This article compares the twin funds, IDVO and DIVO, which deliver divergent performance results despite their shared strategic DNA. IDVO's superior returns are driven by its unhedged currency exposure and a more diversified, lower-concentration portfolio. A deep dive into these ETFs reveals them to be complementary assets for any income-oriented portfolio rather than mutually exclusive choices.

State Bank of India (SBKFF) Q3 2026 Earnings Call Transcript

Alphabet is already one of the most valuable companies in the world, but it's betting big on being the biggest artificial intelligence (AI) company as well.

This isn't likely to be a particularly controversial take, but right now it looks like Alphabet (GOOG 2.42%) (GOOGL 2.53%), Google's parent company, is looking like it will emerge as the artificial intelligence (AI) leader over the next couple of years.

The reasons why are pretty straightforward.

First, Google Gemini is gobbling up market share and is likely to overtake ChatGPT soon.

Second, Alphabet is working to separate itself from Nvidia for its hardware needs with its Tensor Processing Unit (TPU) chip.

Third, per its latest results, Alphabet is leveraging its considerably greater resources than the competition.

Let's discuss all three to illustrate why Alphabet is positioning itself to become the AI kingpin by the end of 2027.

Image source: Getty Images.

Gemini, Google that for me When OpenAI launched ChatGPT in 2022, it quickly became the leader in the generative AI space simply for lack of competition.

By 2023, competitors like Alphabet, Anthropic, and Meta Platforms had brought their competitors to market, but ChatGPT still held 50% market share in the enterprise large language model (LLM) space.

As reported by Menlo Ventures, in the two years since, ChatGPT fell to 27% market share, Anthropic grew from 12% to 40% market share, and Google's Gemini grew from 7% to 21%.

It's on a trajectory to overtake ChatGPT this year if current trends continue, and then it will be a race to the top between Google and Anthropic. Even then, Google wins.

Not a one-trick pony In addition to Gemini, Alphabet has its own proprietary AI hardware, the TPU, developed in partnership with Broadcom.

I won't get into the weeds technically here, but suffice it to say Alphabet's TPU offers a hardware alternative to Nvidia's GPU. And Anthropic is expanding its use of Alphabet's hardware to the tune of 1 million TPUs.

So, Google even wins from Gemini's main competitor because that competitor will be using a lot of Google's hardware.

Money, money, money Now, on to the $400 billion elephant in the room. Alphabet's biggest edge is that while neither OpenAI nor Anthropic has turned a profit yet, it is already profitable, and its revenue for 2025 exceeded $400 billion. That's a 15% increase over 2024. Net income was up 32% over 2024 to $132.1 billion.

None of that was particularly surprising. Google has been growing and profitable for a long time. What did surprise people was the fact that the company is going to roughly double its capital expenditures in 2026 to $175 billion to $185 billion.

Today's Change

(

-2.42

%) $

-8.00

Current Price

$

323.33

Building data centers isn't cheap, and neither is maintaining them. But Alphabet has way more money to spend on them than just about anyone else -- certainly more than the start-ups.

And if it can hold near its 59.6% gross margin and 32% net and operating margins, I'm not too worried about more spending. Plus, liquid cash to fuel that spending spree will not be a problem. In Q4 2025, the company grew its operating free cash flow 34% to $52.4 billion.

Alphabet is betting big on AI and clearly aiming to dominate the industry. And it has the money, products, and reach to pull it off, by my reckoning.

Give it a look if you want to go big on AI like Alphabet is, and come 2027, we'll see who sits atop the AI throne.

The New York Stock Exchange with a Hims & Hers Health, Inc banner is pictured as a person runs past in the Manhattan borough of New York City, New York, U.S., January 21, 2021. REUTERS/Carlo... Purchase Licensing Rights, opens new tab Read more

SummaryCompaniesFDA on Friday said it would restrict ingredientsNovo, Lilly shares fell after Hims launched the pill on ThursdayHims said the decision followed discussions with stakeholdersFeb 7 (Reuters) - Online telehealth company Hims & Hers (HIMS.N), opens new tab on Saturday reversed course on its launch of a $49 compounded version of Novo Nordisk's Wegovy weight-loss pill after the U.S. Food and Drug Administration said it would take action against it.

"Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment," the telehealth firm said.

Jumpstart your morning with the latest legal news delivered straight to your inbox from The Daily Docket newsletter. Sign up here.

The FDA said on Friday that it plans to restrict GLP-1 ingredients used in compounded drugs that companies such as Hims and compounding pharmacies have marketed, citing concerns over quality, safety and potential violations of federal law.

The Department of Health and Human Services said it would refer the company to the Department of Justice but did not make clear whether it could quickly halt the sale of the Hims' product, the cheapest GLP-1 therapy on the U.S. market.

Reuters reported on Thursday that Hims would begin offering copies of Novo Nordisk's (NOVOb.CO), opens new tab new Wegovy pill at an introductory price of $49 per month, about $100 less than the brand name.

The news caused a selloff in shares of Novo and rival Eli Lilly (LLY.N), opens new tab, whose own pill is expected to launch in April. The shares recovered some of the losses on Friday after FDA Commissioner Dr. Marty Makary tweeted his concern after the market's close on Thursday.

Hims & Hers did not respond to a Reuters query about whether it would continue selling the compounded semaglutide injection.

Federal action to limit the production of any compounded weight-loss drug would be a win for Novo Nordisk, which has been losing share in the weight-loss market to rival Eli Lilly (LLY.N), opens new tab and telehealth firms like Hims.

Novo and Hims had a partnership in 2025 allowing Hims to sell injectable Wegovy, but the two companies walked away with Novo saying Hims had wrongfully marketed copycats of Wegovy. Hims' CEO Andrew Dudum accused Novo of attempting to control how clinicians at Hims make decisions.

Novo Nordisk and Eli Lilly did not immediately respond to a Reuters request for comment.

Compounding, in which pharmacies mix ingredients for specialized medicines or to copy a drug but at different dosages, has flourished as Americans chase cheaper prices for drugs. The practice is legal under the Federal Food, Drug and Cosmetic Act in certain circumstances.

Hims' compounded drug is not FDA-approved and has not gone through clinical trials to prove efficacy.

Makary said in a statement on Friday that the agency will "use all available compliance and enforcement tools within its authorities to address unsubstantiated claims and associated public health concerns."

Reporting by Anusha Shah and Amina Niasse; Editing by Caroline Humer and Andrea Ricci

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Expense ratios, sector weightings, and risk profiles set these two popular ETFs apart in ways that can shape your portfolio strategy.

Both the Vanguard S&P 500 ETF (VOO +1.95%) and the Invesco QQQ Trust, Series 1 (QQQ +2.11%) are popular, large-cap U.S. equity exchange-traded funds (ETFs), but they take different approaches.

VOO tracks the broad S&P 500, while QQQ tracks the NASDAQ-100, which is more tech-focused. This comparison examines cost, performance, risk, and portfolio composition to help investors determine which option best fits their goals.

Snapshot (cost & size)MetricVOOQQQIssuerVanguardInvescoExpense ratio0.03%0.18%1-yr return (as of Feb. 2, 2026)15.79%20.13%Dividend yield1.13%0.46%Beta (5Y monthly)1.001.15AUM$839 billion$407 billionBeta measures price volatility relative to the S&P 500. The 1-yr return represents total return over the trailing 12 months.

VOO is more affordable on fees with a lower expense ratio than QQQ, and it also offers a significantly higher dividend yield. These factors could make VOO more attractive to fee-conscious or income-focused investors.

Performance & risk comparisonMetricVOOQQQMax drawdown (5 y)-24.53%-35.12%Growth of $1,000 over 5 years$1,853$1,945What's insideQQQ tracks the NASDAQ-100, resulting in a portfolio of 101 holdings with a heavy tilt toward technology (making up 53% of assets), communication services (17%), and consumer cyclical (13%). Its top holdings are Nvidia, Apple, and Microsoft.

By comparison, VOO spreads its assets across 504 stocks in the S&P 500. Technology accounts for 35% of the fund, followed by financial services at 13% and communication services at 11%. Its top holdings mirror QQQ’s, but the broader sector mix may appeal to those seeking more diversification.

For more guidance on ETF investing, check out the full guide at this link.

What this means for investorsVOO and QQQ are both massive funds with long track records, focusing exclusively on large-cap stocks. However, their distinct approaches may appeal to different types of investors.

VOO is the more diversified of the two, tracking the S&P 500 and holding stocks across all market sectors. This diversification helps limit its risk during market downturns, as it’s not as heavily tilted toward any one industry.

QQQ, on the other hand, is much more focused on growth. The majority of the fund is allocated to tech stocks, which can be a double-edged sword. While tech can be lucrative, it’s also notorious for its volatility.

Between these two ETFs, QQQ has experienced more volatility. It has a steeper maximum drawdown and a higher beta, indicating more severe price fluctuations than VOO. However, QQQ has also outperformed VOO in both 12-month and five-year total returns.

The right choice for you will depend on your investing goals. If you’re looking for a more diversified ETF with a stronger history of stability, VOO’s S&P 500 focus could be more appealing. Those who are comfortable with more volatility in exchange for greater growth potential, though, may prefer QQQ.

AMD turned in strong results, but the stock fell as expectations were high.

Advanced Micro Devices (AMD +8.32%) posted strong revenue growth to close out 2025 and issued solid 2026 guidance, but the stock fell as investors were expecting more after the stock had doubled over the past year heading into the fourth-quarter report's release. Meanwhile, investors decided not to give the company credit for an unexpected boost in China revenue that it saw in Q4, which may not repeat.

China provides upside Sales of $390 million worth of graphics processing units (GPUs) to China helped boost AMD's Q4 results. However, the company didn't forecast further sales to the country, outside of $100 million in revenue in Q1, with management calling the situation "dynamic."

Image source: Getty Images.

This helped AMD's data center revenue climb 39% year over year in the quarter to $5.4 billion. Growth was led by both record central processing units (CPUs) sales and accelerating GPU deployments. It said that eight of the 10 largest artificial intelligence (AI) companies are now using its GPUs for their AI workloads.

Client and gaming segment, revenue, meanwhile, jumped 37% to $3.9 billion. Within the segment, client revenue rose 34% to $3.1 billion as it continues to take market share in the PC space, while gaming revenue surged 50% to $843 million. However, the company does expect the semi-custom revenue that helped power its 2025 gaming segment results to fall meaningfully in 2026. AMD's smaller embedded segment, meanwhile, saw revenue edge up 3% to $950 million. The company expects the segment to grow in 2026.

Overall, AMD's Q4 revenue climbed by 34% year over year to $10.27 billion. Gross margin came in at 54%, up 300 basis points from a year ago, helped by the reversal of a write-down on its MI308 chips for China. Adjusted earnings per share rose 40% to $1.53, ahead of the $1.32 consensus.

Looking ahead, AMD guided for Q1 revenue to grow by 32% year over year to $9.8 billion, plus or minus $300 million.

Today's Change

(

8.32

%) $

16.01

Current Price

$

208.51

Should investors buy the dip? While AMD was a victim of high expectations, the company still performed well and appears on track for a strong 2026, especially with it expected to start delivering GPUs to OpenAI in the second half of the year. Meanwhile, it remains the dominant data center CPU provider.

Looking at valuation, AMD stock trades at a forward price-to-earnings (P/E) ratio of 32 times 2026 analyst estimates, but it has a forward price/earnings-to-growth (PEG) ratio of only 0.2 (with under 1 times being considered undervalued). That makes this a stock worth grabbing on this price dip, given its solid long-term outlook as AI infrastructure spending continues to ramp up.

Geoffrey Seiler has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Advanced Micro Devices. The Motley Fool has a disclosure policy.

This fund provides diversified commodity exposure with a systematic approach to inflation-sensitive assets and dynamic gold weighting.

What happenedAccording to an SEC filing dated Feb. 6, 2026, Echo45 Advisors LLC reported a new position in Harbor ETF Trust - Harbor Commodity All-Weather Strategy ETF (HGER +1.58%) for the fiscal fourth quarter ended Dec. 31, 2025. The fund acquired 127,402 shares, with an estimated transaction value of $3.16 million based on average prices for the period. The quarter-end value of the new stake was also $3.16 million, reflecting both the purchase and prevailing market pricing.

What else to knowThis is a new position for Echo45 Advisors LLC, now representing 1.8% of its 13F reportable assets under management as of December 31, 2025.Top holdings after the filing:NYSEMKT:VEA: $22.12 million (12.6% of AUM)NYSEMKT:RSP: $16.18 million (9.2% of AUM)NYSEMKT:VWO: $9.31 million (5.3% of AUM)NYSEMKT:DIA: $7.42 million (4.2% of AUM)NASDAQ:QQQM: $7.37 million (4.2% of AUM)As of February 5, 2026, shares of HGER were priced at $26.50, up 21.5% over the past year, outperforming the S&P 500 by 9.35 percentage points.The fund reported a 6.5% annualized dividend yield as of February 6, 2026.ETF overviewMetricValueAUMN/APrice (as of market close February 5, 2026)$26.50Dividend yield6.54%1-year total return21.5%ETF snapshotInvestment strategy targets efficient diversification across a basket of commodity futures, emphasizing inflation sensitivity and economic significance.Portfolio consists of at least 15 of the 24 most liquid commodity futures, with dynamic gold weighting based on a proprietary scarcity debasement indicator; index rebalanced quarterly.Fund structure utilizes excess return swaps via a Cayman Islands subsidiary to optimize tax efficiency and avoid K-1 forms; expense ratio details not provided.Harbor Commodity All-Weather Strategy ETF (HGER) is designed to provide investors with broad-based commodity exposure, focusing on assets most sensitive to U.S. inflation. The fund employs a systematic approach to select and weight commodity futures, with a rules-based process that dynamically adjusts allocations, particularly to gold, based on prevailing inflationary conditions. Its unique structure and index methodology aim to deliver efficient inflation hedging and diversification benefits within a single ETF vehicle.

What this transaction means for investorsEcho45 Advisors added more than a dozen new positions to its portfolio during the fourth quarter of 2025. The purchase of Harbor Commodity All-Weather Strategy ETF shares was the third-largest new position added during the last three months of the year.

Investors who feel nervous about traditional stocks and bonds often gravitate toward commodities that generally don’t experience the same ups and downs as the overall stock market. The Harbor Commodity All-Weather Strategy ETF’s focus on gold futures made the typically non-volatile ETF a big gainer. If we include dividends received, this ETF has produced a 22.8% return over the past year. Over the past three years, it’s delivered a 46.1% total return.

The Harbor Commodity All-Weather Strategy ETF produced outstanding returns in recent years, but it might not be a great investment for risk-averse investors who aren’t comfortable with a lot of exposure to gold prices. Gold accounts for 40.9% of the ETF’s total holdings.

Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Vanguard FTSE Developed Markets ETF and Vanguard FTSE Emerging Markets ETF. The Motley Fool has a disclosure policy.

– Late-breaking Phase III FENtrepid results presented at ACTRIMS show investigational fenebrutinib met its primary endpoint of non-inferiority compared to the current standard of care, Ocrevus, in reducing disability progression in PPMS –

– Fenebrutinib numerically reduced the risk of disability progression by 12% compared to Ocrevus as early as 24 weeks; additional analysis showed potential benefit in upper limb function –

– Fenebrutinib has the potential to become first-in-class in multiple sclerosis, as an oral, brain-penetrant BTK inhibitor for PPMS and relapsing multiple sclerosis (RMS) –

– Regulatory submission for fenebrutinib in both PPMS and RMS is planned following the Phase III FENhance 1 readout, expected mid first half of 2026 –

SOUTH SAN FRANCISCO, Calif.--(BUSINESS WIRE)--Genentech, a member of the Roche Group (SIX: RO, ROG; OTCQX: RHHBY), announced today new late-breaking data from the Phase III FENtrepid study showing the investigational Bruton’s tyrosine kinase (BTK) inhibitor fenebrutinib met its primary endpoint of non-inferiority compared to Ocrevus® (ocrelizumab) in reducing disability progression in patients with primary progressive multiple sclerosis (PPMS). Fenebrutinib showed a 12% reduction in the risk of disability progression compared to Ocrevus, the only approved medicine for PPMS, as measured by the time to onset of 12-week composite confirmed disability progression (cCDP12) (hazard ratio [HR] 0.88; 95% confidence interval [CI]: 0.75, 1.03) with curves separating as early as 24 weeks. A consistent treatment effect on cCDP12 was observed across patient subgroups and for the entire treatment duration.

The cCDP12 primary endpoint included the confirmed disability progression (CDP) based on the Expanded Disability Status Scale (EDSS) for functional disability, the timed 25-foot walk (T25FW) for walking speed and the nine-hole peg test (9HPT) for upper limb function. The strongest treatment effect was observed on the risk of worsening on the 9HPT by 26% (HR 0.74; 95% CI: 0.56, 0.98) compared to Ocrevus.

“Fenebrutinib showed a consistent clinical benefit as early as week 24, notably in upper limb function, which is essential for preserving independence and daily functioning,” said Professor Amit Bar-Or, Director of the Center for Neuroinflammation and Neurotherapeutics, Perelman School of Medicine, University of Pennsylvania. “With only one disease-modifying therapy available for people with PPMS, fenebrutinib has the potential to be a high-efficacy, oral treatment option that acts directly in the brain, targeting progressive biology, and may slow disability.”

“Fenebrutinib represents the first potential scientific breakthrough for the PPMS community in over a decade, demonstrating a meaningful clinical benefit in reducing disability progression in a study versus the only approved treatment in PPMS,” said Levi Garraway, M.D., Ph.D., chief medical officer and head of Global Product Development. “We look forward to advancing our regulatory submission following the upcoming readout of our second pivotal RMS study, FENhance 1.”

Additionally, a post-hoc analysis showed that fenebrutinib was superior to Ocrevus on a composite endpoint including two of the three components of cCDP12 (EDSS and 9HPT), with a 22% reduction in risk (HR 0.78; 95% CI: 0.64, 0.95).

Adverse events (AEs) commonly (≥10%) observed in the fenebrutinib group were comparable to Ocrevus: infections (67.0% vs 70.9%), nausea (12.0% vs 7.1%) and hemorrhage (10.2% vs 8.1%). Transient and reversible liver enzyme elevations were observed more often in the fenebrutinib group (13.3% vs 2.9%), and all cases resolved after study drug discontinuation. No Hy’s law cases (an indicator for potential severe liver injury) were observed. Serious AEs were reported in 19.1% of patients receiving fenebrutinib (vs 18.9% on Ocrevus) and led to 4.3% withdrawing from treatment (vs 3.0% on Ocrevus). In the FENtrepid study there were 1.4% fatal cases in the fenebrutinib arm vs 0.2% in the Ocrevus arm, all of which were assessed as unrelated to the study treatment by the investigators and no pattern was observed in timing or cause. Epidemiological studies have shown that fatality rates are higher in people living with MS compared to the general population.1-4

Results were shared today as a late-breaking oral presentation at the Americas Committee for Treatment and Research in Multiple Sclerosis (ACTRIMS) Forum 2026 in San Diego, California. These data follow Genentech’s announcement in November 2025 that the FENtrepid study and the first of two Phase III relapsing multiple sclerosis (RMS) studies (FENhance 2) met their primary endpoints. Once the second RMS study (FENhance 1) has read out, which is expected in the first half of 2026, data from all Phase III fenebrutinib trials will be submitted to regulatory authorities.

About the FENtrepid study

FENtrepid is a Phase III multicenter, randomized, double-blind, double-dummy, parallel-group study to evaluate the efficacy and safety of fenebrutinib compared with Ocrevus in 985 adult patients with PPMS. Eligible participants were randomized 1:1 to receive treatment with either daily oral fenebrutinib (and placebo matched to intravenous [IV] Ocrevus) or IV Ocrevus (and placebo matched to oral fenebrutinib) for at least 120 weeks.

The primary endpoint is the time to onset of 12-week composite confirmed disability progression (cCDP12). The cCDP incorporates three measures of disability – total functional disability measured by the Expanded Disability Status Scale (EDSS), walking speed measured by the timed 25-foot walk (T25FW), and upper limb function measured by the nine-hole peg test (9HPT). This comprehensive composite endpoint offers greater sensitivity than the EDSS alone, capturing additional aspects of disability and often earlier. Key secondary endpoints include the time to onset of 24-week composite confirmed disability progression (cCDP24), 12-week confirmed disability progression (CDP12) and 24-week confirmed disability progression (CDP24).

Following the double-blind treatment period, patients have the option to enter an open-label extension (OLE) phase, in which all patients receive treatment with fenebrutinib.

About fenebrutinib

Fenebrutinib is an investigational oral, central nervous system (CNS)-penetrant, reversible and non-covalent Bruton’s tyrosine kinase (BTK) inhibitor with an optimized pharmacokinetics (PK) profile and high potency. While most current BTK inhibitors are covalent and irreversible, meaning they form a permanent chemical bond with the enzyme, fenebrutinib binds and then eventually releases the enzyme. These design features may help limit off-target effects.

Fenebrutinib has a selectivity for BTK 130 times greater than other kinases which means that it can bind to its intended BTK target without interfering in other kinases. Fenebrutinib can act throughout the body and also cross the blood-brain barrier into the CNS to target chronic inflammation. It is uniquely designed to target relapsing and progressive biology by inhibiting cells in the immune system known as B cells and microglia. Targeting B cells helps control the acute inflammation that causes relapses, while targeting microglia inside the brain addresses the chronic damage that is thought to drive long-term disability progression.

The fenebrutinib Phase III program includes two similarly designed trials in relapsing multiple sclerosis (RMS) (FENhance 1 and 2) with active comparator teriflunomide and the only trial in primary progressive multiple sclerosis (PPMS) (FENtrepid) in which a BTK inhibitor is being evaluated against Ocrevus.

To date, more than 2,700 patients and healthy volunteers have been treated with fenebrutinib in Phase I, II and III clinical programs across multiple diseases, including multiple sclerosis and other autoimmune disorders.

About Ocrevus® (ocrelizumab)

Ocrevus is a humanized monoclonal antibody designed to target CD20-positive B cells, a specific type of immune cell thought to be a key contributor to myelin (nerve cell insulation and support) and axonal (nerve cell) damage. Ocrevus IV and Ocrevus subcutaneous (SC; marketed as Ocrevus Zunovo® [ocrelizumab hyaluronidase-ocsq] in the U.S.) are the only therapies approved for both RMS (including relapsing-remitting multiple sclerosis [RRMS] and active, secondary progressive multiple sclerosis [SPMS], as well as clinically isolated syndrome [CIS] in the U.S.) and primary progressive multiple sclerosis (PPMS). Both Ocrevus IV and SC are administered every six months. The initial IV dose is given as two 300 mg infusions two weeks apart with subsequent doses given as single 600 mg infusions. Ocrevus SC is given as a single 920 mg subcutaneous injection every six months.

About multiple sclerosis

Multiple sclerosis is a chronic disease that affects more than 2.9 million people worldwide. People with all forms of multiple sclerosis experience disease progression from the beginning of their disease. Therefore, an important goal of treating multiple sclerosis is to slow, stop and ideally prevent progression as early as possible.

Approximately 85% of people with multiple sclerosis have a relapsing form of the disease (RMS) characterized by relapses and also worsening disability over time. Primary progressive multiple sclerosis (PPMS) is a debilitating form of the disease marked by steadily worsening symptoms but typically without distinct relapses or periods of remission. Approximately 15% of people with multiple sclerosis are diagnosed with the primary progressive form of the disease. Until the FDA approval of Ocrevus®, there had been no FDA-approved treatments for PPMS and Ocrevus is still the only approved treatment for PPMS.

About Genentech in neuroscience

Neuroscience is a major focus of research and development at Genentech. Our goal is to pursue groundbreaking science to develop new treatments that help improve the lives of people with chronic and potentially devastating diseases.

Genentech and Roche are investigating more than a dozen medicines for neurological disorders, including multiple sclerosis, spinal muscular atrophy, neuromyelitis optica spectrum disorder, Alzheimer’s disease, Huntington’s disease, Parkinson’s disease and Duchenne muscular dystrophy. Together with our partners, we are committed to pushing the boundaries of scientific understanding to solve some of the most difficult challenges in neuroscience today.

About Genentech

Founded 50 years ago, Genentech is a leading biotechnology company that discovers, develops, manufactures and commercializes medicines to treat patients with serious and life-threatening medical conditions. The company, a member of the Roche Group, has headquarters in South San Francisco, California. For additional information about the company, please visit http://www.gene.com.

Indications and Important Safety Information

What are Ocrevus and Ocrevus Zunovo?
Ocrevus and Ocrevus Zunovo are prescription medicines used to treat:

Relapsing forms of multiple sclerosis (MS), to include clinically isolated syndrome, relapsing-remitting disease, and active secondary progressive disease, in adults. Primary progressive MS, in adults. It is not known if Ocrevus and Ocrevus Zunovo are safe and effective in children.

Who should not receive Ocrevus or Ocrevus Zunovo?
Do not receive Ocrevus or Ocrevus Zunovo if you:

have an active hepatitis B virus (HBV) infection. have had a life-threatening administration reaction to ocrelizumab. have had a life-threatening allergic reaction to ocrelizumab, hyaluronidase, or any of the ingredients of Ocrevus Zunovo. Tell your healthcare provider if you have had an allergic reaction to Ocrevus or Ocrevus Zunovo or any of their ingredients in the past. What is the most important information I should know about Ocrevus and Ocrevus Zunovo?
Ocrevus and Ocrevus Zunovo can cause serious side effects, including:

Infusion reactions (Ocrevus): Infusion reactions are a common side effect of Ocrevus, which can be serious and may require you to be hospitalized. You will be monitored during your infusion and for at least 1 hour after each infusion of Ocrevus for signs and symptoms of an infusion reaction. Injection reactions (Ocrevus Zunovo): Injection reactions are a common side effect of Ocrevus Zunovo, which can be serious and may require you to be hospitalized. You will be monitored for signs and symptoms of an injection reaction when you receive Ocrevus Zunovo. This will happen during all injections for at least 1 hour after your first injection, and for at least 15 minutes after all injections following the first injection. Tell your healthcare provider or nurse if you get any of these symptoms:

Itchy skin Rash Hives Tiredness Coughing or wheezing Trouble breathing Throat irritation or pain Feeling faint Fever Redness on your face (flushing) Nausea Headache Swelling of the throat Dizziness Shortness of breath Fatigue Fast heartbeat Additionally, for Ocrevus Zunovo:

Injection site pain Swelling Redness These infusion and injection reactions can happen during or up to 24 hours after administration. It is important that you call your healthcare provider right away if you get any of the signs or symptoms listed above after each infusion or injection.

Infection: Infections are a common side effect. Ocrevus and Ocrevus Zunovo increase your risk of getting upper respiratory tract infections, lower respiratory tract infections, skin infections, and herpes infections. Serious infections can happen with Ocrevus and Ocrevus Zunovo, which can be life-threatening or cause death. Tell your healthcare provider if you have an infection or have any of the following signs of infection including fever, chills, or a cough that does not go away, or painful urination. Signs of herpes infection include: cold sores, shingles, genital sores, skin rash, pain, and itching. Signs of more serious herpes infection include: changes in vision, eye redness or eye pain, severe or persistent headache, stiff neck, and confusion. Signs of infection can happen during treatment or after you have received your last dose of Ocrevus or Ocrevus Zunovo. Tell your healthcare provider right away if you have an infection. Your healthcare provider should delay your treatment with Ocrevus or Ocrevus Zunovo until your infection is gone. Hepatitis B virus (HBV) reactivation: Before starting treatment with ocrelizumab, your healthcare provider will do blood tests to check for hepatitis B viral infection. If you have ever had hepatitis B virus infection, the hepatitis B virus may become active again during or after treatment with Ocrevus or Ocrevus Zunovo. Hepatitis B virus becoming active again (called reactivation) may cause serious liver problems including liver failure or death. Your healthcare provider will monitor you if you are at risk for hepatitis B virus reactivation during treatment and after you stop receiving Ocrevus or Ocrevus Zunovo. Weakened immune system: Ocrevus or Ocrevus Zunovo taken before or after other medicines that weaken the immune system could increase your risk of getting infections. Progressive Multifocal Leukoencephalopathy (PML): PML is a rare brain infection that usually leads to death or severe disability and has been reported with ocrelizumab. Symptoms of PML get worse over days to weeks. It is important that you call your healthcare provider right away if you have any new or worsening neurologic signs or symptoms that have lasted several days, including problems with: Thinking Eyesight Strength Balance Weakness on 1 side of your body Using your arms or legs Decreased immunoglobulins: Ocrevus and Ocrevus Zunovo may cause a decrease in some types of antibodies. Your healthcare provider will do blood tests to check your blood immunoglobulin levels. Before receiving Ocrevus or Ocrevus Zunovo, tell your healthcare provider about all of your medical conditions, including if you:

have or think you have an infection. See “What is the most important information I should know about Ocrevus and Ocrevus Zunovo?” have ever taken, take, or plan to take medicines that affect your immune system, or other treatments for MS. These medicines could increase your risk of getting an infection. have ever had hepatitis B or are a carrier of the hepatitis B virus. have a history of inflammatory bowel disease or colitis. have a history of liver problems. have had a recent vaccination or are scheduled to receive any vaccinations. You should receive any required ‘live’ or ‘live-attenuated’ vaccines at least 4 weeks before you start treatment with Ocrevus or Ocrevus Zunovo. You should not receive ‘live’ or ‘live-attenuated’ vaccines while you are being treated with Ocrevus or Ocrevus Zunovo and until your healthcare provider tells you that your immune system is no longer weakened. When possible, you should receive any ‘non-live’ vaccines at least 2 weeks before you start treatment with Ocrevus or Ocrevus Zunovo. If you would like to receive any non-live (inactivated) vaccines, including the seasonal flu vaccine, while you are being treated with Ocrevus or Ocrevus Zunovo, talk to your healthcare provider. If you have a baby and you received Ocrevus or Ocrevus Zunovo during your pregnancy, it is important to tell your baby’s healthcare provider about receiving Ocrevus or Ocrevus Zunovo so they can decide when your baby should be vaccinated. are pregnant, think that you might be pregnant, or plan to become pregnant. It is not known if Ocrevus and Ocrevus Zunovo will harm your unborn baby. You should use birth control (contraception) during treatment with Ocrevus and Ocrevus Zunovo and for 6 months after your last dose of Ocrevus or Ocrevus Zunovo. Talk with your healthcare provider about what birth control method is right for you during this time. Tell your healthcare provider if you become pregnant while receiving Ocrevus or Ocrevus Zunovo. are breastfeeding or plan to breastfeed. It is not known if Ocrevus and Ocrevus Zunovo pass into your breast milk. Talk to your healthcare provider about the best way to feed your baby if you take Ocrevus or Ocrevus Zunovo. Tell your healthcare provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.

What are the possible side effects of Ocrevus and Ocrevus Zunovo?
Ocrevus and Ocrevus Zunovo may cause serious side effects, including:

Risk of cancers (malignancies) including breast cancer: Follow your healthcare provider’s instructions about standard screening guidelines for breast cancer. Inflammation of the colon, or colitis: Tell your healthcare provider if you have any symptoms of colitis, such as: Diarrhea (loose stools) or more frequent bowel movements than usual Stools that are black, tarry, sticky or have blood or mucus Severe stomach-area (abdomen) pain or tenderness Liver damage: Ocrevus and Ocrevus Zunovo may cause liver damage. Your healthcare provider will do blood tests to check your liver before you start Ocrevus or Ocrevus Zunovo and while you take Ocrevus or Ocrevus Zunovo if needed. Tell your healthcare provider right away if you have any symptoms of liver damage, such as: yellowing of the skin and eyes (jaundice) nausea vomiting unusual darkening of the urine feeling tired or weak The most common side effects of Ocrevus Zunovo include:

Injection reactions Respiratory tract infections Skin infections These are not all the possible side effects of Ocrevus and Ocrevus Zunovo.

Call your doctor for medical advice about side effects. You may report side effects to the FDA at 1-800-FDA-1088. You may also report side effects to Genentech at (888) 835-2555.

For more information, go to https://www.Ocrevus.com or call 1-844-627-3887.

For additional safety information, please see the full Prescribing Information and Medication Guide for Ocrevus.

For additional safety information, please see the full Prescribing Information and Medication Guide for Ocrevus Zunovo.

References

1 Manouchehrinia A, et al. Mortality in multiple sclerosis: meta-analysis of standardised mortality ratios. J Neurol Neurosurg Psychiatry. 2016;87:324–331.

2 Smyrke N, et al. Standardized mortality ratios in multiple sclerosis: Systematic review with meta-analysis. Acta Neurol Scand. 2021;00:1–11.

3 Scalfari A, et al. Mortality in patients with multiple sclerosis. Neurology. 2013;81:184–192.

4 Kingwell E, et al. Causes that Contribute to the Excess Mortality Risk in Multiple Sclerosis: A Population-Based Study. Neuroepidemiology. 2020;54:131–139

The logo of Swiss drugmaker Roche is seen at its headquarters in Basel, Switzerland January 30, 2020. REUTERS/Arnd Wiegmann/File Photo Purchase Licensing Rights, opens new tab

CompaniesBERLIN, Feb 7 (Reuters) - Swiss pharmaceutical company Roche (ROG.S), opens new tab said on Saturday its experimental multiple sclerosis drug fenebrutinib met the main goal in a late-stage trial in patients with primary progressive multiple sclerosis, a rare form of the disease with few treatment options.

In the Phase III study, fenebrutinib cut the risk of worsening disability by 12% compared with Roche's Ocrevus, the only approved therapy for PPMS, the Swiss drugmaker said.

Keep up with the latest medical breakthroughs and healthcare trends with the Reuters Health Rounds newsletter. Sign up here.

Separation of the treatment curves was seen after 24 weeks, and additional analyses suggested potential benefits in upper-limb function.

PPMS is the least common form of multiple sclerosis and is marked by a steady progression of disability from the outset.

Roche said fenebrutinib was the first experimental therapy in more than a decade to show a reduction in disability progression in a PPMS study.

The company said it plans to submit the drug for regulatory approval once additional Phase III data from a relapsing MS trial are available, which it expects in the first half of 2026.

Reporting by Patricia Weiss, writing by Maria Martinez, editing by Louise Heavens

Our Standards: The Thomson Reuters Trust Principles., opens new tab

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

The Bitcoin price climbed above $70,000 yesterday, just a day after crashing to as low as $60,000. Amid this BTC rebound, experts continue to share their opinions about whether the bottom is in or if there is likely to be another Bitcoin crash. Meanwhile, the ‘Trump insider whale’ is dumping his BTC holdings, a move which could further put selling pressure on the leading crypto. 

Will Bitcoin Crash as the Fear Index Hits June 2022 Lows? Market sentiment remained weak despite Bitcoin’s bounce attempt. The Crypto Fear & Greed Index dropped to 6, its lowest reading since June 2022. That reading indicates extreme fear across the crypto market.

Meanwhile, analyst Ted highlighted a key technical level for Bitcoin’s short-term direction. As per analyst Ted, BTC attempted to reclaim $70,000 but failed. He added that Bitcoin needs to reclaim $70,000 for another 8% to 10% move higher. However, he warned that failure could push BTC back toward this week’s low near $60k.

As per trader James Wynn, Bitcoin is now on its fifth straight red monthly candle, which has never happened before. He said the market has three weeks left to see if the month closes green. Wynn noted he profited heavily from shorting at $120,000 but now says he has turned bullish near $68,000. He also said sentiment has flipped even though, in his words, “nothing has changed, just price.”

Meanwhile, Jeff Parker, CIO at ProCap, said the recent violent Bitcoin sell-off is likely tied closely to Bitcoin ETFs and broader capital market stress. Parker said the next few days will show whether buyers step in and support Bitcoin demand. BitMEX co-founder Arthur Hayes had echoed a similar sentiment earlier in the day, blaming trading activity around BlackRock’s IBIT for the crash earlier this week.

RSI and MACD Show BTC is Bearish Bitcoin’s price structure still shows a strong downtrend. BTC continued posting lower highs and lower lows since the late-2025 peak near $100,000. Notably, the recent sell-off pushed Bitcoin from the $90,000 to $85,000 range down to around $63,000. Meanwhile, the prior $75,000 to $80,000 support zone shifted into resistance.

Source: TradingView

Technical indicators also show weakness. RSI is near 31.57, while the signal line is near 31.65, keeping BTC in oversold territory. MACD readings also are deeply bearish, with MACD near -5,640.93 and the signal line near -3,843.60. The histogram is near -1,797, indicating sustained negative momentum. A sustainable trend reversal would require a strong bullish close above key resistance with improving RSI and MACD convergence.

‘Trump Insider’ Whale Garrett Jin Moves 6,599 BTC to Binance Garrett Jin has transferred 6,599 BTC worth roughly $463 million in total value today. As per Lookonchain data, Jin deposited 5,000 BTC, valued near $351 million, into Binance shortly after an earlier 1,599 BTC deposit worth about $112 million.

These transfers come only five days after Jin faced a full liquidation totaling $250 million after Bitcoin crashed. The transfers to the top crypto exchange came as Bitcoin attempted to stabilize after sharp losses.

It is worth mentioning that Jin was the whale that opened large short positions on Bitcoin about 30 minutes before Donald Trump announced a proposed 100% tariff on China.  After Trump’s tariff announcement, the crypto market dropped sharply, triggering over $19 billion in liquidations.

Meanwhile, Whale Alert reported additional major transactions involving Bitcoin. One transfer moved 799 BTC, worth about $56.1 million, from an unknown wallet to Binance. Another transaction shifted 3,401 BTC, valued near $237.5 million, between two unknown wallets.

📊
No votes yet – Be the first to vote

Hyperliquid’s considering something big. The crypto firm might use its own HYPE tokens as collateral for options trading, though company officials won’t confirm anything yet. Market watchers are buzzing.

The speculation started heating up after internal discussions leaked to industry insiders. HYPE tokens currently trade at $0.85, and that price has been pretty volatile since word got out about the potential collateral use. Trading volumes jumped 20% on February 4 alone, according to CoinMarketCap data. Traders are clearly paying attention. But Hyperliquid isn’t talking much, which has everyone guessing about what comes next.

No official timeline exists.

A company spokesperson said on February 2 that talks about using HYPE as collateral are still in early stages. The rep stressed that market conditions and regulatory stuff will guide any final decision. That statement didn’t really calm anyone down, but it confirmed that Hyperliquid’s brass are definitely thinking about it. Industry insider John Carlson thinks this could set a precedent if it happens. Carlson, who works at Digital Assets Consulting, called token collateral “relatively uncharted territory” with both upside and serious risks.

CEO Elena Martinez tried to ease investor nerves during a February 3 shareholder update. She said any decision would focus on shareholder value and market stability first. Martinez acknowledged the buzz around HYPE’s potential new role but didn’t give specifics about timing or implementation details.

The crypto community can’t agree on whether this move makes sense. Some traders see innovation, while others worry about volatility getting worse. Michael Tan from Crypto Insights pointed out that regulatory uncertainty could create major problems. He thinks Hyperliquid’s choice might depend on how crypto rules evolve in coming months.

Meanwhile, HYPE token activity keeps surging. The volume spike shows traders are positioning themselves for whatever Hyperliquid decides. Market analysts are watching price movements closely, trying to predict how an official announcement might affect token value. The lack of clear guidance from the company has kept many traders cautious about making big bets.

Hyperliquid’s board will meet later this month, and that gathering could be crucial. Directors might address the HYPE token strategy directly during those discussions. Until then, everyone’s waiting for signals about the company’s direction. Financial advisor Sarah Lin warned investors on February 5 to stay alert. “Any shifts in strategy can have immediate impacts on token liquidity and investor confidence,” she said.

Regulators are taking notice too. The UK’s Financial Conduct Authority reportedly asked Hyperliquid for more information about its plans. No formal investigation is happening, but the FCA’s interest shows how complex using digital assets as collateral can be from a regulatory standpoint. Trading platforms aren’t taking chances either.

Binance announced February 6 that it’s ready to implement stabilization measures for HYPE token trading if needed. The exchange wants to keep markets orderly amid all the uncertainty. CFO David Singh reinforced the company’s careful approach during a February 7 webinar. He said token collateral use is being explored but no final call has been made. Singh emphasized that any decision would align with long-term vision and current market conditions.

The options trading market has been growing fast, and using native tokens as collateral could give Hyperliquid a competitive edge. But it’s also risky business. Token values can swing wildly based on market sentiment, which could create problems if HYPE’s price crashes while it’s backing options positions. Some analysts think this risk might outweigh potential benefits.

Other crypto firms are watching Hyperliquid’s moves closely. If the experiment works, copycats will probably follow. If it fails, the whole sector might shy away from similar strategies for years. The stakes are pretty high for both Hyperliquid and the broader crypto options market.

Trading data from the past week shows increased interest in HYPE tokens across multiple exchanges. Daily volume has consistently stayed above normal levels since speculation began. This sustained activity suggests traders believe something significant will happen, even if they don’t know exactly what or when.

Market makers are reportedly adjusting their HYPE token inventory in preparation for potential volatility. Several large trading firms have increased their holdings, while others have reduced exposure to limit risk. The mixed positioning reflects uncertainty about which direction the token might move once Hyperliquid makes its decision public.

HYPE tokens closed Friday’s session at $0.87, up slightly from earlier in the week.

Several competing DeFi platforms have already experimented with native token collateral systems, though with mixed results. Uniswap’s governance token saw similar volatility patterns when collateral rumors surfaced in 2023, ultimately declining 15% after the proposal was shelved.

Major institutional investors including Galaxy Digital and Pantera Capital have reportedly increased their HYPE positions this week. Galaxy’s trading desk alone purchased an estimated 2.3 million tokens between February 5-7, according to blockchain analytics firm Nansen.

Post Views: 1

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Tether found itself at the center of two big stories this week, one legal and one market-driven, each showing a different side of how stablecoins shape crypto activity.

One story involves a law enforcement request that led to a large freeze of assets. The other shows fresh USDT supply hitting markets during a sharp Bitcoin selloff.

Gambling Ops Busted According to reports, Turkish prosecutors asked for help after tracing crypto funds tied to what they say was an illegal online betting operation.

Tether responded by freezing wallets linked to that probe, blocking movement of roughly $544 million in suspected ill-gotten funds.

Paolo Ardoino, Tether’s CEO, has been quoted as saying the company cooperates with law enforcement and follows compliance procedures in these cases.

Reports say this action sits alongside Tether’s wider record of working with authorities in more than 1,800 cases across 62 countries and has resulted in the freezing of billions in USDT over time.

Total crypto market cap currently at $2.3 trillion. Chart: TradingView Tether’s Role In Law Enforcement Cooperation The freeze adds another example of how stablecoin issuers can act on legal requests that target specific wallet addresses.

Reports note Turkish investigators also sought seizure orders for bank accounts and property connected to the alleged network.

While blockchain records are public, linking addresses to people still depends on data, subpoenas, and cooperation between exchanges and issuers. In this case, that cooperation halted transfers of the flagged tokens before they could move further.

Minting When Markets Fall At the same time, market watchers logged a separate development: Tether minted an additional $1 billion USDT as Bitcoin plunged.

Reports show this mint came while Bitcoin dropped by double digits over a short period and amid more than $2 billion in liquidations across crypto markets.

💵 💵 💵 💵 💵 💵 💵 💵 💵 💵 1,000,000,000 #USDT (999,707,500 USD) minted at Tether Treasuryhttps://t.co/xJD8CP4OGN

— Whale Alert (@whale_alert) February 6, 2026

The newly created USDT appeared mostly on networks like Tron, where a large portion of USDT circulates, and it boosted overall stablecoin liquidity during the selloff.

Traders and desks often use freshly issued stablecoins to cover shorts, rebalance positions, or to provide exchange liquidity — and that helps explain why issuers sometimes increase supply in volatile stretches.

Trading And Enforcement, Side By Side These two events together capture a tension in crypto: stablecoins can provide fast liquidity, but they can also be the subject of legal controls when authorities suspect misuse.

Reports note that while mints do not guarantee a market rebound, they make dollars available in crypto form, and that can change short-term flows. At the same time, freezes show that issuers can be pulled into cross-border probes and asset recovery efforts.

What Comes Next Observers are watching whether the extra USDT supply will steer traders back into Bitcoin or remain parked on exchanges as dry powder.

Meanwhile, the Turkish action raises fresh questions about how regulators, issuers, and analytics firms will coordinate to trace and immobilize suspect funds moving across networks.

The balance between providing market liquidity and meeting legal obligations is getting tested in real time.

Featured image from Unsplash, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.

20h05 ▪ 4 min read ▪ by Fenelon L.

Summarize this article with:

While the crypto fear index reaches historic highs, Metaplanet’s CEO displays a disconcerting calm. Simon Gerovich brings up Buffett’s philosophy to encourage investors to do exactly the opposite of the crowd: buy when everyone is selling. A bold stance as his company continues accumulating bitcoin despite the storm.

In Brief Metaplanet’s CEO cites Warren Buffett to encourage buying during the current crypto panic. CoinMarketCap’s Fear and Greed Index hits historically low levels, signaling extreme investor fear. Bitcoin hit 60,000 dollars before quickly rebounding to 70,000 dollars. Extreme fear zones have historically coincided with the best market entry points. On February 7, Simon Gerovich shook the crypto community with a striking post. The head of Metaplanet invoked the legendary saying of Warren Buffett: “Be greedy when others are fearful.” A message broadcast at the exact moment CoinMarketCap signaled a plunge of its Fear and Greed Index into the “extreme fear” zone.

This timing is no coincidence. Bitcoin had just flirted with 60,000 dollars, wiping out two years of gains and sowing panic among holders. Massive sell-offs were multiplying, volatility was exploding. 

Yet, Gerovich sees something other than a collapse. His graph accompanying the message reveals a repetitive pattern: every zone of intense terror over the past twelve months coincided with a market low, systematically followed by a vigorous rebound.

This contrarian market analysis is based on solid historical data. Investors who dared to buy during previous panic phases consistently recorded substantial profits. 

Bitcoin itself illustrates this dynamic by quickly reclaiming the 70,000 dollar threshold after testing 60,000 dollars.

Institutional Resilience Amid Turbulence Metaplanet does not just preach. The Japanese company applies its philosophy with determination. It now holds 35,102 BTC in its treasury, placing it among the largest institutional holders in the world. A position assumed despite an average acquisition price exceeding 107,700 dollars.

This strategy weighs on traditional financial markets. Metaplanet’s stock fell 5.56% in Tokyo, reflecting investor nervousness about the company’s crypto exposure. Latent losses are real and significant. But management refuses to capitulate.

Metaplanet’s approach fits into a broader institutional trend. Strategy, the world leader with 713,502 BTC, also maintains its accumulation strategy. Despite 12.4 billion dollars of losses reported in the fourth quarter of 2025, Michael Saylor persists with his famous “HODL.” The company even acquired an additional 855 BTC during the correction.

Its CEO Phong Le specifies that Strategy would hold out until Bitcoin drops to 8,000 dollars before considering restructuring. This confidence reflects a long-term vision that transcends short-term moves. Bitcoin thus becomes a cash management tool rather than a mere speculative asset.

Technical analysis corroborates this outlook. Market cycles show that collective capitulation periods often precede smart accumulation phases. Long-term holders use these windows to strengthen their positions while emotional investors liquidate their assets.

In summary, Metaplanet’s bet on the contrarian strategy crystallizes a clear conviction: markets reward patience and discipline. While extreme fear drives the masses to sell, some strategic actors accumulate silently. An approach that could shape institutional adoption of Bitcoin for years to come.

Maximize your Cointribune experience with our "Read to Earn" program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.

Join the program

A

A

Lien copié

Fenelon L.

Passionné par le Bitcoin, j'aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l'outil qui peut rendre cela possible.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

The cryptocurrency market in early February 2026 is navigating a phase of high volatility. After a sharp weekend correction, Bitcoin (BTC) is currently stabilizing near $69,480, while Ethereum (ETH) struggles to hold the $2,095 level. In this environment, investors are moving away from speculative hype and toward projects with transparent capital structures and proven development progress.

For those scanning the top crypto presale sector, three projects stand out due to their distinct funding models and technical execution: Zero Knowledge Proof (ZKP), Bitcoin Hyper, and Mutuum Finance.

Zero Knowledge Proof (ZKP): The $100M “Build-First” Model ZKP leads the 2026 presale market by reversing the traditional funding sequence. Instead of raising capital to fund future development, the team deployed over $100 million of internal funds before opening public access.

Strategic Capital Deployment: Core Infrastructure: $20 million invested in a four-layer L1 blockchain (consensus, execution, proof, and storage). Hardware Ecosystem: $17 million for the production and global distribution of Proof Pods, which are already active. Premium Assets: $5 million utilized for domain acquisitions and intellectual property.

This “self-funded” approach eliminates the execution risk typically associated with early-stage projects. ZKP facilitates privacy-focused AI computation, allowing data to be verified without disclosure. Currently in Stage 2 of its 450-day Initial Coin Auction, the daily supply is capped at 190 million tokens, ensuring a fair distribution model where all participants in a 24-hour window receive the same effective rate.

Bitcoin Hyper (HYPER): Scaling BTC with $31M in Funding Bitcoin Hyper has emerged as a frontrunner in the Bitcoin Layer-2 space, having raised approximately $31.17 million as it enters its final presale stages.

The SVM Engine: By integrating the Solana Virtual Machine (SVM) with Bitcoin settlement, HYPER aims to solve the scalability issues that have historically limited BTC’s utility. Staking-Driven Growth: The project offers estimated yields of 40% APY, which has led to a significant portion of the presale supply being locked. This strategy aims to stabilize the token’s market entry by reducing immediate circulating supply. Roadmap Status: Currently in its late-stage presale, the project is moving toward a Q1 2026 mainnet launch, positioning itself as a primary gas and governance token for the emerging Bitcoin DeFi ecosystem. Mutuum Finance (MUTM): $20.4M Raised and Active Testnet Validation Mutuum Finance has surpassed the $20.4 million mark, signaling strong demand for decentralized credit solutions that offer real-world utility.

Technical Milestone: On February 7, 2026, the project confirmed the successful completion of its Roadmap Phase 2, with the V1 Protocol fully activated on the Sepolia testnet. The mtToken Utility: Mutuum’s model uses mtTokens as “value-bearing receipts,” where the token’s ratio increases over time against the underlying asset, providing a unique return mechanism for lenders. Security & Participation: With over 19,000 holders and high security scores from CertiK (90/100) and Halborn, Mutuum is currently in Phase 7 of its presale. Tokens are priced at $0.04, with a confirmed exchange listing price of $0.06.

Final Verdict: Capital Setup vs. Market Readiness The 2026 market reset has made transparency the most valuable asset for any top crypto presale:

ZKP offers the highest degree of readiness with $100 million already spent on functional infrastructure. Bitcoin Hyper demonstrates the power of the traditional raise, with $31 million and a massive L2 community. Mutuum Finance provides the clearest validation path with a live testnet and institutional-grade audits already in place. As global liquidity remains selective, these three projects represent the shift toward “utility-first” investment strategies in the digital asset space.

Official Project Links:

Website): https://zkp.com/ On X: https://x.com/ZKPofficial On Telegram: https://t.me/ZKPofficial This article contains information about a cryptocurrency presale. Crypto Economy is not associated with the project. As with any initiative within the crypto ecosystem, we encourage users to do their own research before participating, carefully considering both the potential and the risks involved. This content is for informational purposes only and does not constitute investment advice.

Market surges and sudden downturns can make or break a crypto investor’s confidence. For those navigating Bitcoin’s rollercoaster price action, the need to understand what truly moves the market is undeniable. Sophisticated research shows that Bitcoin price movement reflects a complex mix of market capitalization, technical indicators, investor sentiment, and global economic conditions, all woven into a decentralized system unlike any traditional asset. Grasping these foundations helps investors anticipate the next move, not just react to it.

Key Takeaways Point Details Market Dynamics Bitcoin's price is influenced by market capitalization, technical indicators, investor sentiment, and external economic conditions. Regularly track multiple factors to inform investment decisions. Halving Events Bitcoin's scarcity, driven by halving events approximately every four years, can lead to price appreciation due to decreased supply. Understanding historical patterns is essential for anticipating market movements. Institutional Involvement The rise of Bitcoin Spot ETFs has made Bitcoin more accessible to institutional investors, increasing market legitimacy and liquidity. Monitoring ETF inflows can provide insights into market sentiment. Regulatory Impact Evolving regulatory frameworks are critical in shaping Bitcoin's market behavior. Stay updated on regulatory changes to better gauge their influence on market valuation and investor confidence. Foundations of Bitcoin Price MovementUnderstanding Bitcoin price dynamics requires examining a complex network of interconnected factors that drive market valuation. Bitcoin price movement is not a simple linear process, but rather a multifaceted phenomenon influenced by technological, economic, and psychological elements.

Researchers have developed sophisticated models to decode these price mechanisms. Advanced machine learning techniques reveal several critical foundations of Bitcoin price fluctuations:

Market Capitalization: Total value of circulating Bitcoins Technical Indicators: Price trends, moving averages, trading volumes Investor Sentiment: Collective market psychology and expectations External Economic Conditions: Global financial markets, regulatory environments The underlying price dynamics emerge from a delicate balance between supply constraints and demand signals. Bitcoin's decentralized nature means traditional financial models struggle to predict its movements precisely. Unlike traditional currencies, Bitcoin operates without central bank intervention, making its valuation more responsive to global market sentiments.

Technological factors play a significant role in price determination. Network activity, mining difficulty, halving events, and blockchain developments can dramatically influence investor perceptions and market valuations.

Pro tip: Track multiple indicators simultaneously and avoid making investment decisions based on any single price driver.

Here's a summary of how different factors uniquely impact Bitcoin's price movement:

Key Factor Unique Influence on Price Typical Investor Response Market Capitalization Sets overall valuation level Signals market maturity Network Activity Reflects blockchain utility Tracked for adoption signals Regulatory Developments Can trigger rapid sentiment change May increase or reduce exposure ETF Inflows Boosts liquidity and legitimacy Often leads to renewed optimism Halving Cycles and Scarcity EffectsBitcoin's unique economic model revolves around its built-in scarcity mechanism, most notably expressed through halving events. These strategic supply reductions occur approximately every four years, fundamentally altering Bitcoin's economic landscape and investor dynamics.

Historical halving analyses reveal critical insights into how these cycles impact Bitcoin's valuation. The key characteristics of Bitcoin halving include:

Reduction of mining rewards by 50% Predictable supply limitation built into Bitcoin's protocol Systematic decrease in new Bitcoin creation Potential price appreciation following supply constraints The halving mechanism represents a revolutionary approach to cryptocurrency economics. By mathematically controlling Bitcoin's supply, the network ensures a predictable and diminishing rate of new coin generation. This stands in stark contrast to traditional fiat currencies, where central banks can arbitrarily print money.

Each halving event introduces significant market dynamics. Miners face reduced block rewards, which can trigger substantial shifts in network participation and mining infrastructure. Economic implications of halving cycles demonstrate how these events simultaneously impact miner profitability and broader market sentiment.

Bitcoin's halving represents a deflationary mechanism that distinguishes it from traditional monetary systems.

Investor psychology plays a crucial role during these cycles. As the supply of new Bitcoins becomes more scarce, market participants often anticipate potential price increases, creating a self-reinforcing expectation loop that can drive valuation.

Pro tip: Monitor historical halving patterns and network metrics to understand potential market movements during upcoming reduction events.

For easy reference, compare traditional market cycles versus Bitcoin halving cycles:

Feature Traditional Markets Bitcoin Halving Cycles Cycle Frequency Unpredictable, varies widely Every ~4 years, predetermined Main Trigger Economic shifts or policy moves Blockchain code, mining rewards Impact on Supply Indirect via central banks Direct supply cut by 50% Effect on Sentiment Mixed, often unclear Usually increases bullishness Institutional Demand and ETF InflowsThe landscape of Bitcoin investment has undergone a dramatic transformation with the emergence of institutional-grade investment vehicles, particularly Bitcoin Spot ETFs. These financial instruments have opened new pathways for mainstream investors to engage with cryptocurrency, fundamentally reshaping market dynamics.

Bitcoin ETF approval impact demonstrates significant shifts in institutional participation. The key developments include:

Increased liquidity for Bitcoin markets Lower barrier to entry for institutional investors Enhanced market legitimacy Reduced transaction complexity for large-scale investments Institutional investors have progressively recognized Bitcoin as a strategic asset class. This recognition stems from Bitcoin's potential as a hedge against traditional market volatility and its demonstrated resilience during complex macroeconomic conditions.

The regulatory landscape has played a crucial role in driving institutional interest. Spot ETF approvals represent a pivotal moment, signaling regulatory comfort and institutional acceptance. Institutional demand resilience continues to demonstrate remarkable stability, even amid global economic uncertainties.

Institutional investment marks a critical inflection point in Bitcoin's journey toward mainstream financial acceptance.

Geopolitical risks and macroeconomic instabilities have paradoxically strengthened Bitcoin's appeal. Institutional investors view cryptocurrency as a potential diversification tool, contributing to its growing portfolio allocation strategy.

Pro tip: Monitor institutional ETF inflow trends as a key indicator of Bitcoin's market sentiment and potential price movements.

Regulatory Changes Shaping Market BehaviorThe cryptocurrency landscape continues to evolve dramatically, with regulatory frameworksplaying an increasingly critical role in shaping Bitcoin's market behavior. Global jurisdictions are developing sophisticated approaches to digital asset governance, balancing innovation with risk management.

Global crypto policy developments reveal several transformative trends across major markets:

Increasing institutional compliance requirements Enhanced transparency mandates Standardized reporting protocols More nuanced tax treatment of digital assets Clearer guidelines for cryptocurrency exchanges The regulatory environment has transitioned from uncertainty to measured acceptance. Governments worldwide are crafting policies that simultaneously protect investors and encourage technological innovation, recognizing cryptocurrency's emerging role in the global financial ecosystem.

Institutional adoption hinges significantly on regulatory clarity. Regulatory frameworks influencing adoption demonstrate how comprehensive guidelines can boost investor confidence and market legitimacy. Spot Bitcoin ETPs, for instance, have gained substantial traction through carefully constructed compliance mechanisms.

Regulatory evolution represents the bridge between traditional finance and digital asset ecosystems.

Geopolitical dynamics continue to influence cryptocurrency regulations. Developed economies are leading the way in creating balanced, forward-thinking regulatory approaches that aim to integrate digital assets into mainstream financial systems while mitigating potential risks.

Pro tip: Stay informed about regulatory changes in key financial jurisdictions, as these developments can significantly impact Bitcoin's market valuation and investor sentiment.

Macroeconomic Trends and Global LiquidityBitcoin's price dynamics have increasingly become intertwined with broader macroeconomic trends, transforming from a niche digital asset to a sophisticated financial instrument sensitive to global economic shifts. The cryptocurrency ecosystem now responds dynamically to complex international monetary conditions.

Macroeconomic factors influencing cryptocurrency reveal several critical interconnections:

Global risk appetite indicators International monetary policy changes Currency exchange rate fluctuations Stock market volatility Geopolitical economic tensions The global liquidity landscape has dramatically reshaped Bitcoin's investment profile. Traditional boundaries between digital and conventional assets are blurring, with cryptocurrency increasingly responding to broader economic signals and investor sentiment across international markets.

Advanced pricing models demonstrate Bitcoin's evolving correlation with macroeconomic indicators. The cryptocurrency has transitioned from an isolated financial instrument to a more integrated asset class, showing nuanced responses to global economic conditions.

Bitcoin represents a new class of financial asset bridging traditional and digital economic paradigms.

Investors now view Bitcoin through a more sophisticated lens, considering its performance within complex global economic frameworks. Monetary policies, international trade dynamics, and geopolitical tensions directly influence cryptocurrency valuation in increasingly predictable patterns.

Pro tip: Monitor central bank monetary policies and global economic indicators as leading signals for potential Bitcoin price movements.

Key Risks and Common Price Volatility TrapsBitcoin's price landscape remains notoriously complex, characterized by dramatic fluctuations that can challenge even experienced investors. Understanding the underlying mechanisms of these price movements requires a nuanced examination of multiple interconnected risk factors.

Cryptocurrency volatility research highlights several critical risk dimensions:

Speculative trading patterns Market manipulation potential Regulatory uncertainty Liquidity constraints Investor sentiment volatility Technological infrastructure risks The volatility ecosystem encompasses far more than simple price swings. Sophisticated investors recognize that Bitcoin's price movements result from intricate interactions between technological, economic, and psychological factors.

Advanced volatility measurement approaches reveal the multifaceted nature of Bitcoin price risks. These models demonstrate how seemingly random price fluctuations often follow complex underlying patterns driven by market psychology and structural market characteristics.

Bitcoin volatility represents a unique financial phenomenon bridging traditional market analysis and emerging digital asset dynamics.

Institutional and retail investors must develop robust risk management strategies that account for Bitcoin's inherent price unpredictability. Understanding these volatility traps requires continuous learning and adaptive investment approaches.

Pro tip: Implement strict risk management protocols, including predetermined stop-loss levels and portfolio diversification, to mitigate potential cryptocurrency market volatility.

Navigate the Complex Drivers Behind Bitcoin's 2026 MarketUnderstanding the intricate factors shaping Bitcoin's price movement such as halving cycles, institutional ETF inflows, and evolving regulatory changes can feel overwhelming. The challenge lies in decoding technical indicators and macroeconomic trends that constantly influence market volatility and investor sentiment. If you want to stay ahead in this dynamic landscape you need timely insights and clear analysis.

Discover everything you need to grasp these critical concepts and make informed decisions on Crypto Daily. We bring you the latest updates on Bitcoin’s price drivers and how global economic shifts impact cryptocurrency prices. Don’t miss out on the advantage of real-time market intelligence and expert breakdowns. Visit Crypto Daily now to unlock the knowledge that powers confident crypto investing and track the key trends shaping 2026 markets.

Frequently Asked QuestionsWhat are the main factors driving Bitcoin price movement?Bitcoin price movement is influenced by several key factors including market capitalization, technical indicators, investor sentiment, and external economic conditions. These components interact to create a multifaceted price dynamic.

How do halving events impact Bitcoin's value?Halving events reduce Bitcoin mining rewards by 50%, creating a predictable supply limitation. This scarcity often leads to increased investor anticipation of price appreciation, impacting market dynamics significantly.

What role does institutional demand play in Bitcoin pricing?Institutional demand, particularly through Bitcoin Spot ETFs, has expanded market liquidity and legitimacy, making it easier for institutional investors to access Bitcoin. This demand can lead to increased price stability and upward momentum.

How can global macroeconomic trends affect Bitcoin's price?Global macroeconomic trends, such as changes in monetary policy and geopolitical tensions, influence investor sentiment and risk appetite. Bitcoin's correlation with these economic indicators suggests that its price can respond dynamically to broader economic changes.

Recommended Crypto Influencers to Watch for the 2026 Market Cycle - Crypto Daily Bybit's 2026 Crypto Outlook Challenges the Four-Year Crypto Cycle - Crypto Daily Bitcoin Price Analysis: Analysts Optimistic Despite BTC’s Crash To $95,000 - Bitzo Bitcoin Price Analysis: BTC Struggling at $91,000 As Analysts Warn Volatility Could Persist - Bitzo Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.