Market Signal Briefing

Zoom Communications stands out in a weak software sector, supported by its Anthropic stake and robust net cash position. ZM trades at just 12x forward non-GAAP earnings, with net cash and investments comprising up to 48% of market cap. Management guides for modest 4.2% FY revenue growth but expresses optimism about AI monetization in FY '27.

Exelixis, Inc. (EXEL) Presents at TD Cowen 46th Annual Health Care Conference Transcript

Twenty-nine midstream energy companies were evaluated on a relative favorability matrix with factors representing yield, yield coverage, valuation, profitability, growth, and leverage. Based on this analysis, UGP, HESM, and USAC are the most favorable prospects in the midstream industry. I recommend investors who own TRP, GEL, or DKL carefully review their position, as these midstreams compare unfavorably to peers.

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Bitcoin is navigating heightened uncertainty as escalating conflicts in the Middle East inject fresh volatility into global markets. Price action has become increasingly reactive to geopolitical headlines, while broader liquidity conditions remain fragile. In this environment, directional conviction has weakened, and risk appetite appears constrained.

Recent analysis from Axel Adler highlights the deterioration in Bitcoin’s risk-adjusted performance profile. The Sharpe Ratio — measured over both 365-day and 180-day rolling windows — has moved decisively into negative territory. As of March 1, 2026, the 365-day Sharpe stands at -63, while the faster 180-day version has plunged to -287. Although the metric is scaled for regime analysis rather than interpreted as a classical Sharpe value, the implication is clear: over the past six to twelve months, volatility has not been compensated by returns.

Bitcoin Risk Meter (Sharpe-Based) | Source: CryptoQuant This shift began in January and accelerated through February’s price pressure. Notably, the fast Sharpe reading is approaching levels seen near the 2022 cycle low, while the slower measure remains less extreme but firmly negative. Complementing this signal, the MVRV Z-Score sits at 0.49 — below its historical mean but not at capitulation extremes.

The report further contextualizes Bitcoin’s positioning through the MVRV Z-Score with Standard Deviation bands. As of early March 2026, the Z-Score stands at 0.49 — below both its 365-day moving average (1.89) and historical mean (1.73), yet comfortably above the negative territory historically associated with capitulation. Structurally, this places Bitcoin in a neutral valuation regime.

Bitcoin MVRV Z-Score Standard Deviation Upper Bands | Source: CryptoQuant The MVRV Z-Score measures the deviation between market capitalization and realized capitalization, effectively comparing spot price to the aggregate cost basis of holders. Historically, readings above +1 standard deviation (around 3.55) have signaled overheating, while negative readings — when price trades below average holder cost — have marked major accumulation zones in 2019, 2020, and 2023. The current 0.49 reading indicates neither excess profit-taking pressure nor deep undervaluation.

This distinction is critical. The absence of overheating reduces the probability of an abrupt collapse driven by profit overhang. However, neutrality does not equate to opportunity. Historically strong buy signals emerged when MVRV moved decisively negative, not merely when it cooled toward 0.5.

Combined with the negative Sharpe Ratio regime, the message converges: risk-adjusted returns are unattractive, and valuation is neutral but not historically cheap. This is a transitional phase requiring a clear catalyst to define direction.

On the 3-day timeframe, Bitcoin remains structurally pressured following the breakdown from the $90,000–$95,000 distribution range. The chart shows a decisive rejection near the 200-period moving average (red), which had previously acted as dynamic support throughout much of the 2024–2025 uptrend. Once lost, price accelerated lower, confirming a transition from trend continuation to corrective structure.

BTC testing critical demand level | Source: BTCUSDT chart on TradingView Currently trading near $67,000, BTC is consolidating below the 100-period (green) and 50-period (blue) moving averages. Both shorter-term averages are curling downward, reflecting deteriorating momentum. The recent rebound from the $60,000–$62,000 region appears corrective rather than impulsive, lacking strong volume expansion relative to the breakdown phase. This suggests short-covering and tactical positioning rather than broad structural accumulation.

Importantly, the $60,000 zone now represents key horizontal support. It coincides with a prior consolidation area and marks the lower boundary of the current range. A sustained loss of this level would likely expose the $52,000–$55,000 region as the next high-liquidity demand zone.

For bulls to regain structural control, price would need to reclaim and hold above the 100-period average and reestablish higher highs on expanding volume. Until then, the dominant regime remains corrective, with volatility compressing inside a fragile recovery attempt.

Featured image from ChatGPT, chart from TradingView.com 

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Sebastian's journey into the world of crypto began four years ago, driven by a fascination with the potential of blockchain technology to revolutionize financial systems. His initial exploration focused on understanding the intricacies of various crypto projects, particularly those focused on building innovative financial solutions. Through countless hours of research and learning, Sebastian developed a deep understanding of the underlying technologies, market dynamics, and potential applications of cryptocurrencies. As his knowledge grew, Sebastian felt compelled to share his insights with others. He began actively contributing to online discussions on platforms like X and LinkedIn, focusing on fintech and crypto-related content. His goal was to expose valuable trends and insights to a wider audience, fostering a deeper understanding of the rapidly evolving crypto landscape. Sebastian's contributions quickly gained recognition, and he became a trusted voice in the online crypto community. To further enhance his expertise, Sebastian pursued a UC Berkeley Fintech: Frameworks, Applications, and Strategies certification. This rigorous program equipped him with valuable skills and knowledge regarding Financial Technology, bridging the gap between traditional finance (TradFi) and decentralized finance (DeFi). The certification deepened his understanding of the broader financial landscape and its intersection with blockchain technology. Sebastian's passion for finance and writing is evident in his work. He enjoys delving into financial research, analyzing market trends, and exploring the latest developments in the crypto space. In his spare time, Sebastian can often be found immersed in charts, studying 10-K forms, or engaging in thought-provoking discussions about the future of finance. Sebastian's journey as a crypto analyst and investor has been marked by a relentless pursuit of knowledge and a dedication to sharing his insights. His ability to navigate the complex world of crypto, combined with his passion for financial research and communication, makes him a valuable asset to the industry. As the crypto landscape continues to evolve, Sebastian remains at the forefront, providing valuable insights and contributing to the growth of this revolutionary technology.

Journalist

Posted: March 4, 2026

Chiliz [CHZ] rallied over the past 24 hours, securing its position as one of only two assets to post double-digit gains, trailing just behind Near Protocol [NEAR].

Market sentiment appears constructive at first glance. Trading volume surged 80% to $80.41 million, while market capitalization climbed toward the $400 million mark.

These metrics suggest renewed interest in the token. However, underlying technical signals indicate that the rally could be deceptive.

Understanding the market structure The weekly chart provides broader context. At the time of writing, CHZ traded within a descending channel, a structure often associated with bullish reversal potential.

This pattern typically confirms a bullish breakout only after the price decisively clears the upper boundary of the channel. When that occurs, price often rallies back toward the level where the initial breakdown began.

Source: TradingView

In CHZ’s case, the price advanced toward that upper boundary but encountered strong mid-range resistance. This level has triggered multiple rejections in the past, limiting upside momentum.

If buyers sustain strong momentum, CHZ could break above this mid-range barrier and target the upper zone of the channel.

However, repeated historical rejections at this level increase the likelihood of another pullback unless bulls demonstrate clear strength.

Momentum indicators suggest caution Momentum readings on the weekly timeframe do not fully support a sustained breakout.

The Moving Average Convergence Divergence (MACD) indicator showed weakening momentum at press time after forming a bearish crossover.

This crossover occurs when the signal line crosses above the MACD line, indicating that sellers have begun to dominate price action.

Such crossovers often precede extended downward moves, especially when they appear near key resistance levels. With CHZ currently testing resistance, the bearish MACD signal adds weight to the risk of rejection.

Source: TradingView

In addition, the Bull Bear Power indicator showed consecutive red histogram bars, confirming that bears were in control. The persistence of selling pressure further increases the probability of a corrective move.

Taken together, the rising bearish momentum, overhead resistance, and weakening trend strength place CHZ at risk of a deeper pullback despite its recent gains.

Why the rally could be a trap CHZ’s price surge did not occur in isolation. Derivatives market data showed that leveraged traders largely fueled the move.

Open Interest climbed to $44 million at the time of writing, reflecting an influx of capital into Futures contracts.

Meanwhile, short traders recorded higher liquidations over the past 24 hours, suggesting that forced short covering contributed to the rally.

When Open Interest rises alongside short liquidations, it often signals aggressive long positioning. In such cases, new capital frequently enters the market through long contracts, amplifying upward price pressure.

Source: CoinGlass

The Open Interest–Weighted Funding Rate was 0.0067% at the time of writing, indicating that long traders were paying a premium to maintain their positions.

This confirmed that market participants were skewed heavily bullish in the short term.

However, crowded long positioning near resistance increases the risk of a reversal. If price fails to break higher, long liquidations could accelerate a downside move.

In summary, while CHZ shows short-term strength supported by derivatives activity, technical indicators and structural resistance suggest caution.

Without a decisive breakout, the rally risks turning into a bull trap rather than the start of a sustained uptrend.

Final Summary CHZ is approaching a key resistance level while trading within a broader bullish structure. Perpetual futures traders are driving short-term upside, but the longer-term outlook remains fragile.

XRP price failed to stay above $1.420 and started a downside correction. The price is now holding the $1.3320 support and might aim for another increase.

XRP price started a downside correction and declined below $1.380. The price is now trading below $1.3740 and the 100-hourly Simple Moving Average. There is a new bearish trend line forming with resistance at $1.3880 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could start another increase if it stays above $1.3320. XRP Price Dips To Support XRP price failed to stay above $1.40 and started a downside correction, like Bitcoin and Ethereum. The price dipped below the $1.3920 and $1.3880 levels to enter a negative zone.

The price even dipped below the 50% Fib retracement level of the upward move from the $1.2702 swing low to the $1.4330 high. Besides, there is a new bearish trend line forming with resistance at $1.3880 on the hourly chart of the XRP/USD pair.

The bulls are now active above the $1.3320 zone. The price is now trading below $1.3750 and the 100-hourly Simple Moving Average. If there is a fresh upward move, the price might face resistance near the $1.370 level. The first major resistance is near the $1.3880 level, above which the price could rise and test $1.40.

Source: XRPUSD on TradingView.com A clear move above the $1.40 resistance might send the price toward the $1.4320 resistance. Any more gains might send the price toward the $1.450 resistance. The next major hurdle for the bulls might be near $1.50.

Downside Break? If XRP fails to clear the $1.3880 resistance zone, it could start a fresh decline. Initial support on the downside is near the $1.3320 level or the 61.8% Fib retracement level of the upward move from the $1.2702 swing low to the $1.4330 high. The next major support is near the $1.3085 level.

If there is a downside break and a close below the $1.3085 level, the price might continue to decline toward $1.2880. The next major support sits near the $1.2650 zone, below which the price could continue lower toward $1.250.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now losing pace in the bullish zone.

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

Major Support Levels – $1.3320 and $1.3085.

Major Resistance Levels – $1.3880 and $1.4000.

Ripple expands payments platform into end-to-end stablecoin infrastructure as processed volume tops $100 billionThe company added managed custody, virtual account collections, and fiat-to-stablecoin settlement capabilities, positioning itself as a single provider for enterprise digital asset payments across 60 markets.Updated Mar 4, 2026, 4:50 a.m. Published Mar 4, 2026, 4:47 a.m.

Ripple is no longer just moving money. It wants to be the entire pipe.

The company shared with CoinDesk on Wednesday a press release that outlines a major expansion of Ripple Payments which turns the platform into a full-stack infrastructure layer for fiat and stablecoin money movement.

Businesses can now collect, hold, exchange, and pay out in both traditional currencies and stablecoins through a single provider, rather than stitching together separate vendors for custody, collections, conversion, and settlement.

The new capabilities come from two recent acquisitions. Palisade, which handles custody and treasury automation, powers the managed custody layer that lets businesses provision wallets at scale and sweep funds into operational accounts.

Rail, a virtual accounts and collections platform, enables businesses to accept fiat and stablecoin pay-ins through named virtual accounts with automated conversion and settlement.

The result is that a fintech doing cross-border payouts no longer needs one provider for custody, another for foreign exchange, a third for stablecoin liquidity, and a fourth for local payout rails. Ripple is consolidating all of that into one platform with one integration.

"For the global financial system to evolve, fintechs and financial institutions need infrastructure that treats digital assets with the same rigor as traditional finance," said Monica Long, president at Ripple, said in a prepared statement. "Ripple has built the blueprint for blockchain-based enterprise solutions designed to operate at global scale for regulated finance."

Meanwhile, Ripple said the platform has now processed more than $100 billion in total volume. That milestone lands against a broader backdrop of stablecoin adoption accelerating across the financial system, with global annual transaction volumes reaching $33 trillion last year and stablecoins now accounting for 30% of all onchain transaction volume.

The expansion comes at an interesting time for Ripple specifically.

XRP has been under pressure, down roughly 5% over the past week, according to CoinDesk market data, amid the broader market sell-off driven by the U.S.-Iran conflict.

But the payments business operates largely independently of the token's price, and the institutional adoption trajectory suggests Ripple's enterprise strategy is gaining traction regardless of what the spot market does.

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Polymarket has removed long-running markets that let users bet on the likelihood of a nuclear weapon detonating, amid the current conflict with Iran and criticism over war-related insider trading.The nuclear-detonation contracts, which at times implied risks as high as 19 percent and drew millions of dollars in volume, have renewed concerns that insiders could profit from advance knowledge of military actions.The controversy comes as the Commodity Futures Trading Commission weighs rules that would bar regulated exchanges from listing event contracts tied to war, terrorism, assassination and other activities deemed contrary to the public interest.

MARA Holdings, one of the largest Bitcoin (BTC) mining companies in the world, has signaled a major shift in strategy that could have significant implications for the broader BTC market. 

In a recent filing with the US Securities and Exchange Commission (SEC), the company disclosed an update to its treasury policy that would allow it to sell Bitcoin from its balance sheet — a notable departure from its long-standing commitment to holding the asset as a long-term investment.

Bitcoin Miner MARA May Sell Reserves Under the new policy, MARA is no longer strictly committed to retaining all of the Bitcoin it mines. Instead, it has opened the door to potentially liquidating part or even all of its holdings if circumstances require it.

MARA currently holds 53,822 BTC, making it the second-largest publicly traded corporate holder of Bitcoin, according to data from BitcoinTreasuries.net. 

At current market prices, the company’s reserves are valued at approximately $3.59 billion. Only Michael Saylor’s Strategy — formerly known as MicroStrategy — holds more, with over 720,000 BTC.

In its filing, MARA acknowledged that prolonged weakness in Bitcoin’s price could materially affect its financial position. If the price remains depressed or declines further, the value of its holdings could fall significantly, weighing on its balance sheet and liquidity. 

Because Bitcoin mining represents the company’s primary source of revenue, extended price declines could make it increasingly difficult to cover operational costs, meet debt obligations, or fund strategic initiatives.

The company also pointed to upcoming financial obligations, including the potential need to repurchase outstanding convertible senior notes in 2027. Meeting such obligations would require substantial cash resources. 

Under those circumstances — including liquidity pressures or adverse market conditions — MARA said it may decide to sell a portion or the entirety of its Bitcoin reserves.

Potential ‘Supply Bomb’ Looms  Market analyst Shanaka Anslem offered a detailed breakdown of the company’s current challenges. According to Anslem, MARA’s production cost now stands at approximately $87,000 per Bitcoin, while the asset is trading around $66,690. 

That gap means the company is effectively losing money on each block it mines. At the same time, hashprice — a key measure of mining profitability — has dropped to a record low of $35 per petahash.

Anslem also highlighted MARA’s 2025 open-market purchases. During that year, the company acquired 4,267 BTC at an average price of $111,034 per coin. With current prices significantly lower, those purchases are now roughly 38% underwater. 

Looking ahead, Anslem suggested that blockchain data will provide critical clues about whether MARA’s policy shift translates into actual selling. 

If the company’s wallets show no meaningful outflows over the next 90 days, he argued, the announcement may amount to little more than optional flexibility, and the perceived supply overhang could prove illusory. 

However, if substantial transfers begin — particularly in a market environment characterized by a Fear and Greed Index reading of 15 and Bitcoin already down 22% year-to-date — the psychological and price impact could be significant.

In that scenario, other miners with large treasuries might also come under scrutiny, creating what he described as a potential “supply bomb” effect.

The 1D chart shows BTC’s consolidation between $62,000 and $68,000 over the past month. Source: BTCUSDT on TradingView.com Featured image from OpenArt, chart from TradingView.com 

Dogecoin started a fresh decline below the $0.0950 zone against the US Dollar. DOGE is now consolidating losses and might face hurdles near $0.0920 and $0.0932.

DOGE price started a fresh decline below the $0.0950 level. The price is trading below the $0.0935 level and the 100-hourly simple moving average. There was a break below a bullish trend line with support at $0.0920 on the hourly chart of the DOGE/USD pair (data source from Kraken). The price could extend losses if it stays below $0.0920 and $0.0932. Dogecoin Price At Risk of More Downside Dogecoin price started a fresh decline after it closed below $0.10, like Bitcoin and Ethereum. DOGE declined below the $0.0950 and $0.0932 support levels.

The price even traded below $0.0920. Besides, there was a break below a bullish trend line with support at $0.0920 on the hourly chart of the DOGE/USD pair. A low was formed near $0.0885, and the price is now showing bearish signs. There was a recovery wave above $0.0900, but the price stayed below the 38.2% Fib retracement level of the downward move from the $0.0977 swing high to the $0.0885 low.

Dogecoin price is now trading below the $0.0932 level and the 100-hourly simple moving average. If there is a recovery wave, immediate resistance on the upside is near the $0.0920 level.

The first major resistance for the bulls could be near the $0.0932 level and the 50% Fib retracement level of the downward move from the $0.0977 swing high to the $0.0885 low. The next major resistance is near the $0.0950 level.

Source: DOGEUSD on TradingView.com A close above the $0.0950 resistance might send the price toward the $0.0975 resistance. Any more gains might send the price toward the $0.10 level. The next major stop for the bulls might be $0.1020.

Downside Break In DOGE? If DOGE’s price fails to climb above the $0.0932 level, it could continue to move down. Initial support on the downside is near the $0.0885 level. The next major support is near the $0.0850 level.

The main support sits at $0.0820. If there is a downside break below the $0.0820 support, the price could decline further. In the stated case, the price might slide toward the $0.0800 level or even $0.0750 in the near term.

Technical Indicators

Hourly MACD – The MACD for DOGE/USD is now gaining momentum in the bearish zone.

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

Major Support Levels – $0.0885 and $0.0850.

Major Resistance Levels – $0.0920 and $0.0932.

Governor Mike Braun has signed House Bill 1042 into law, formalizing new protections for digital asset users in Indiana and setting guardrails around how state and local authorities may regulate cryptocurrency activity.

Summary

HB 1042 prohibits state and local governments from imposing discriminatory taxes or restrictions targeting cryptocurrency transactions. The law protects the right of Indiana residents to self-custody digital assets. Indiana formally defines cryptocurrency in state statute, providing regulatory clarity for courts and agencies. HB 1042 becomes law as Indiana expands legal clarity for digital assets The measure, which cleared the Indiana General Assembly earlier this session, establishes statutory definitions for cryptocurrency and limits the ability of state and local governments to impose discriminatory taxes, fees, or restrictions specifically targeting digital assets.

Supporters describe the legislation as a “Bitcoin rights” framework designed to provide clarity and predictability for residents who hold or transact in crypto.

Under HB 1042, state and local governmental units are prohibited from enacting rules that single out digital asset transactions for special taxation or treatment compared to other forms of payment. The law also reinforces the right of individuals to self-custody digital assets, preventing most public agencies from restricting a person’s ability to hold cryptocurrency in a private wallet.

Regulatory authority remains with the appropriate financial oversight bodies, including the state’s Department of Financial Institutions.

The legislation also opens the door for cryptocurrency exposure within certain state-managed retirement and savings programs. Under HB 1042, plan administrators for designated public retirement and education savings plans will be required to offer a self-directed brokerage option that includes at least one cryptocurrency-linked investment choice, such as a regulated exchange-traded fund tied to bitcoin.

The measure does not mandate that pension funds directly purchase or hold digital assets as part of their core portfolios; instead, it allows individual participants to decide whether to allocate a portion of their retirement savings to crypto through approved investment vehicles.

Backers of the bill have argued that the measure positions Indiana as a pro-innovation state amid growing national debate over crypto regulation. By clearly defining cryptocurrency in statute as a digital medium of exchange secured by cryptography and not issued by a central authority, lawmakers say the state reduces ambiguity for courts, regulators and businesses operating in the space.

The signing follows increasing legislative activity across the United States focused on digital asset rights and taxation.

With HB 1042 now enacted, Indiana joins a small but growing number of states that have codified protections for crypto holders while maintaining oversight through existing financial regulatory frameworks.

Off-price retailer Ross Stores saw “robust” comparable store sales growth in the fourth quarter, crediting the expansion in part to its success in drawing shoppers away from mainstream retailers.

The company’s comparable store sales were up 9% for the quarter ended Jan. 31, on top of a 3% gain during the same period the previous year, and its total sales rose 12%, according to a Tuesday (March 3) earnings release.

Ross Stores CEO Jim Conroy said during a Tuesday earnings call that he believes the largest part of market share came from mainstream retailers. He added that another, larger off-price retailer also posted a solid quarter, so the share didn’t come from them.

“I think the share shift is more from mainstream retail, department stores and other places like that, to off-price in general, and we would just like to get our fair share or, of course, more than our fair share from that shift,” Conroy said.

Ross Stores operates the off-price apparel and home fashion chain Ross Dress for Less and the more moderately priced apparel, accessories, footwear and home fashions chain dd’s DISCOUNTS.

During the fourth quarter, the company saw growth across both businesses, in all merchandise categories and in every region of the country.

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Conroy said new marketing campaigns that started around the back-to-school season contributed to this growth, along with some other changes.

“The change in marketing, some in-store changes and of course the assortments being really great,” Conroy said. “In terms of marketing spend, you put all that together, and it just made for a really good Q3 and Q4.”

Looking ahead, Ross Stores expects to see comparable store sales increase 7% to 8% during the current quarter and 3% to 4% during the full year.

“While early, we are encouraged by the continued strength in the business as the spring season begins,” Ross Stores Chief Financial Officer William Sheehan said during the call.

Because of the strength in both comparable store sales growth and new store productivity, Ross Stores plans to continue expanding its store count in 2026, Conroy said.

The company added 90 new stores in 2025, while closing nine, bringing the total to 2,267 at the end of the fourth quarter.

In 2026, Ross Stores plans to open 110 new stores, representing 5% growth. In the longer term, the company plans to boost its total number of stores to 3,600, Conroy said.

A rival off-price retailer, The TJX Companies, is also adding stores after seeing its merchandise appeal to various income and age demographics. The company said Feb. 25 that during the fiscal year ending Jan. 31, 2027, it plans to add 146 net new stores, increasing its store count by about 3%.

Q4: 2026-03-02 Earnings SummaryEPS of $0.26 misses by $0.27

 |

Revenue of

$213.11M

(14.64% Y/Y)

misses by $6.47M

Propel Holdings Inc. (PRL:CA) Q4 2025 Earnings Call March 3, 2026 8:30 AM EST

Company Participants

Devon Ghelani - Vice President of Capital Markets & Investor Relations
Clive Kinross - Co-Founder, CEO & Director
Sheldon Saidakovsky - Co-Founder & CFO
Noah Buchman - Co-Founder, President & Chief Revenue Officer

Conference Call Participants

Matthew Lee - Canaccord Genuity Corp., Research Division
Stephen Boland - Raymond James Ltd., Research Division
Rob Goff - Ventum Financial Corp., Research Division
Jeffrey Fenwick - ATB Cormark Capital Markets Inc., Research Division
Suthan Sukumar - Stifel Nicolaus Canada Inc., Research Division
Andrew Scutt - ROTH Capital Partners, LLC, Research Division

Presentation

Operator

Good morning, everyone. Welcome to the Propel Holdings Fourth Quarter and Year-End 2025 Financial Results Conference Call. As a reminder, this conference call is being recorded on March 3, 2026. [Operator Instructions] I will now turn the call over to Devon Ghelani, Propel's Vice President, Capital Markets and Investor Relations. Please go ahead, Devon.

Devon Ghelani
Vice President of Capital Markets & Investor Relations

Thank you, operator. Good morning, everyone, and thank you for joining us today. Propel's fourth quarter and year-end 2025 financial results were released yesterday after market close. The press release, financial statements and MD&A are available on SEDAR+ as well as on the company's website, propelholdings.com.

Before we begin, I would like to remind all participants that our statements and comments today may include forward-looking statements within the meaning of applicable securities laws. The risks and considerations regarding forward-looking statements can be found in our Q4 2025 MD&A and annual information form for the year ended December 31, 2025, both of which are available on SEDAR+. Additionally, during the call, we may refer to non-IFRS measures. Participants are advised to review the section entitled Non-IFRS Financial Measures and Industry Metrics in the company's Q4 2025 MD&A for definitions of our non-IFRS measures and the

Sandisk Corporation (SNDK) Presents at Morgan Stanley Technology, Media & Telecom Conference 2026 Transcript

Tsakos Energy Navigation Limited maintains robust fundamentals, prudent fleet management, and operational efficiency despite recent market volatility. Geopolitical tensions in the Middle East present both operational risks and upside catalysts, supporting higher spot and charter rates for TEN. Valuation remains reasonable with a target price of $41.15, and technicals confirm a bullish trend, though overbought signals suggest caution.

Coca-Cola Europacific Partners remains a Hold as Q4 results showed improvement, but valuation is now stretched at ~21x forward PE. Europe exited Q4 better than feared, with targeted pricing and promotions aiding Germany, yet volume growth remains weak and demand pressure persists. Energy and away-from-home channels continue to drive growth, while APS headwinds are easing, particularly with portfolio normalization in Indonesia and the Philippines.

VersaBank (VBNK - Free Report) came out with quarterly earnings of $0.27 per share, in line with the Zacks Consensus Estimate . This compares to earnings of $0.2 per share a year ago. These figures are adjusted for non-recurring items.

A quarter ago, it was expected that this company would post earnings of $0.24 per share when it actually produced earnings of $0.24, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates just once.

VersaBank, which belongs to the Zacks Banks - Foreign industry, posted revenues of $26.33 million for the quarter ended January 2026, surpassing the Zacks Consensus Estimate by 0.14%. This compares to year-ago revenues of $19.58 million. The company has topped consensus revenue estimates two times over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

VersaBank shares have added about 13% since the beginning of the year versus the S&P 500's gain of 0.5%.

What's Next for VersaBank?While VersaBank has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for VersaBank was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is $0.30 on $27.56 million in revenues for the coming quarter and $1.36 on $115.71 million in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Banks - Foreign is currently in the top 13% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

Alexander & Baldwin Holdings, Inc. (ALEX - Free Report) , another stock in the broader Zacks Finance sector, has yet to report results for the quarter ended December 2025.

This company is expected to post quarterly earnings of $0.26 per share in its upcoming report, which represents a year-over-year change of -13.3%. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.

Alexander & Baldwin Holdings, Inc.'s revenues are expected to be $51.9 million, down 16.9% from the year-ago quarter.

QuickLogic Corporation (QUIK) Q4 2025 Earnings Call March 3, 2026 5:30 PM EST

Company Participants

Brian C. Faith - President, CEO & Director
Elias Nader - CFO & Senior VP of Finance

Conference Call Participants

Alison Ziegler - Darrow Associates Inc.
Richard Shannon - Craig-Hallum Capital Group LLC, Research Division
Neil Young - Needham & Company, LLC, Research Division
Tyler Burmeister - Lake Street Capital Markets, LLC, Research Division
Auguste Richard - Northland Capital Markets, Research Division
Richard Neaton - Rivershore Investment Research Inc.

Presentation

Operator

Ladies and gentlemen, good afternoon. At this time, I would like to welcome everybody to QuickLogic Corporation's Fourth Quarter and Fiscal 2025 Earnings Results Conference Call. As a reminder, today's call is being recorded.

I would now like to turn the conference over to Ms. Alison Ziegler of Darrow Associates. Ms. Ziegler, please go ahead.

Alison Ziegler
Darrow Associates Inc.

Thank you, operator, and thanks to all of you for joining us. Our speakers today are Brian Faith, President and Chief Executive Officer; and Elias Nader, Senior Vice President and Chief Financial Officer.

As a reminder, some of the comments QuickLogic makes today are forward-looking statements that involve risks and uncertainties, including, but not limited to, statements regarding our future profitability and cash flows, expectations regarding our future business and expected revenue growth and statements regarding the timing, milestones and payments related to our government contracts.

Actual results may differ due to a variety of factors, including delays in the market acceptance of company's new products, the ability to convert design opportunities into customer revenue, our ability to replace revenue from end-of-life products, the level and timing of customer design activity, the market acceptance of our customers' products, the risk that new orders may not result in future revenues, our ability to introduce and produce new products based on advanced wafer technology on a timely basis, our

Software stocks got pounded last month as the narrative that AI would disrupt enterprise software-as-a-service (SaaS) products took hold.

Anthropic introduced new plug-ins for Claude Code and Claude Cowork, showing that AI products could be closer to challenging traditional software products than investors thought.

Monday.com (MNDY +3.65%) was one of the biggest losers in the month as the customer relationship management (CRM) software company is seen as vulnerable to AI pressure, and it disappointed investors with its fourth-quarter earnings report.

According to data from S&P Global Market Intelligence, the stock fell 36.7% in the month. As you can see from the chart below, the sell-off came in the first week of the month as the software sell-off continued and as its earnings report disappointed.

MNDY data by YCharts

What happened to Monday.com Monday.com was sliding in the first week of the month, along with the rest of the SaaS sector, as negative sentiment that began late in January and picked up steam in February.

When it reported fourth-quarter earnings on Monday.com, the SaaS company seemed to confirm those fears, even though it beat headline estimates in the report.

Revenue rose 25% to $333.9 million, ahead of the consensus at $329.7 million, and the company said that Monday Vibe, its vibecoding app builder, was the fastest product to reach $1 million in annual recurring revenue (ARR) in its history. However, that may explain why investors are fearful of AI disruption, as those are the kinds of AI tools that investors believe can compete with Monday.

Monday eked out a generally accepted accounting principles (GAAP) operating profit, and it reported an adjusted earnings per share of $1.04, which was down from $1.08 but beat the consensus of $0.92.

Despite those results, investors were still spooked by the company's guidance and signs that growth in smaller customers was slowing, a sign that AI could be starting to challenge it.

Image source: Getty Images.

Where Monday.com goes in 2026 Looking ahead to 2026, the company expects revenue growth of 18%-19% to $1.452 billion-$1.462 billion, below estimates at $1.48 billion. First-quarter revenue guidance of $338 million-$340 million was also below the consensus.

Monday has fallen sharply over the last six months on signs of weakening growth, and it seems like shaking the AI threat will be difficult, at least without a reacceleration in revenue growth.

Its valuation has come down substantially, but investors may need to see meaningful growth in GAAP profits for the stock to recover.

Arcturus Therapeutics Holdings Inc. (ARCT) Q4 2025 Earnings Call Transcript

, /PRNewswire/ -- Bluerock Private Real Estate Fund (ticker: BPRE) is set to pay its previously announced monthly distribution for March 2026. On March 27, 2026, BPRE will pay a cash distribution of $0.1167 per share to shareholders of record as of March 12, 2026, reflecting an annualized market distribution rate of approximately 8.0% and an annualized tax-equivalent distribution rate of 12.6%1, based on the BPRE closing price of $17.41 on March 3, 2026.

The Fund has announced two distribution increases since transitioning from quarterly to monthly distributions in January 2026. These increases are reflective of management's commitment to consistently raising distributions as it reallocates capital to the sectors it believes offers the greatest opportunity for higher yields, durable income, and improved risk-adjusted returns.

The distribution will be made on the schedule below:

Record Date

3/12/26

Ex-Dividend Date

3/12/26

Pay Date

3/27/26

Distribution

$0.1167

Net assets under management for BPRE are approximately $3.4 billion as of February 28, 2026. The Fund currently maintains positions in 28 private equity and 5 private debt real estate investments, with underlying assets valued at approximately $250 billion (holdings are subject to change at any time and should not be considered investment advice).

BPRE is pleased to offer its shareholders a Distribution Reinvestment Plan (DRIP) program, providing a structured and convenient way for investors to automatically reinvest monthly cash distributions into additional shares, allowing for the potential of enhanced compounding and, in certain scenarios, the ability to acquire shares at favorable pricing, including potential purchases at a discount to Net Asset Value (NAV).

BPRE is the only listed closed-end fund offering dedicated access to private institutional real estate – an asset class traditionally accessible only to large institutions and ultra-high-net-worth investors. Through BPRE, shareholders benefit from an income-oriented portfolio of institutional-quality private real estate focused on our high-conviction sectors, complemented by real estate credit exposure.

Some or all of the Fund's distributions may be deemed to be a return of capital. The Fund provides a notice of its best estimate of the sources of a distribution at the time of such distribution. Such notice and other detailed Fund information is available at bprefund.com.

Bluerock Private Real Estate Fund ("BPRE" or the "Fund") is a closed-end fund that is traded on the New York Stock Exchange. BPRE seeks to deliver consistent current income while also pursuing long-term capital appreciation. With a focus on low to moderate volatility and a low correlation to broader market fluctuations, BPRE is designed to offer investment exposure beyond the core four real estate sectors and provide access to emerging growth real estate sectors, potentially supporting both stability and growth.

¹ The market distribution rate is calculated by annualizing the distribution for the relevant month and dividing by the Fund's closing price on the NYSE for 3/3/2026. The tax-equivalent distribution rate is the rate a fully taxable investment needs in order to equal the after-tax rate on a comparable tax-advantaged investment. The example assumes 37% maximum federal income tax rate and includes the 3.8% Medicare surtax that is applied to the net investment income above certain thresholds. It also includes a 5% average state tax rate. Tax equivalent distribution rate is calculated based on a 67% ROC. 67% is the Fund average (2013-2025) return of capital ("ROC") and non-dividend distribution portion of distributions. ROC, for tax purposes, should be distinguished from an economic return of capital, where an investor is repaid out of its own contributions rather than from the economic profits of the investment. As a tax law concept, an ROC is not tied to an investment's financial performance. ROC distributions reduce the stockholder's tax basis in the year the dividend is received. The stockholder's tax basis may be reduced by ROC distributions in the year the distribution is received and generally defer taxes on that portion until the stockholder's stock is sold. Upon sale, the investor will calculate their gain by reference to the lower cost basis attributable to the ROC distributions, which gain may be subject to tax at capital gain rates.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Statements included herein may constitute "forward-looking" statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements with regard to future events or the future performance or operations of the Fund, including but not limited to, liquidity events. Words such as "intends," "will," "believes," "expects," and "may" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, geo-political risks, risks associated with possible disruption to the Fund's operations or the economy generally due to hostilities, terrorism, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in the Fund's operating area, unexpected costs, the ability of the Fund to complete the listing of the common shares on a national securities exchange, the price at which the common shares may trade on a national securities exchange, and failure to list the common shares on a national securities exchange, and such other factors that are disclosed in the Fund's filings with the Securities and Exchange Commission (the "SEC"). The inclusion of forward-looking statements should not be regarded as a representation that any plans, estimates or expectations will be achieved. Any forward-looking statements speak only as of the date of this communication. Except as required by federal securities laws, the Fund undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

IMPORTANT INFORMATION ON RISK
Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. Investors should carefully consider the investment objectives, risks, charges, and expenses of BPRE.

SOURCE Bluerock Private Real Estate Fund

Item 1 of 2 The logo of Belgian drug, chemical, and plastics group UCB is seen at the entrance of the company's headquarters in Brussels March 2, 2010. UCB presented its 2009 financial results on Tuesday. UCB forecast on Tuesday that two of its new drugs would be blockbusters after a decline in 2009 income due to competition for its core epilepsy drug Keppra. REUTERS/Yves Herman (BELGIUM - Tags: BUSINESS)

[1/2]The logo of Belgian drug, chemical, and plastics group UCB is seen at the entrance of the company's headquarters in Brussels March 2, 2010. UCB presented its 2009 financial results on Tuesday. UCB... Purchase Licensing Rights, opens new tab Read more

Belgian drugmaker UCB has entered into an agreement to licence Antengene's (6996.HK), opens new tab experimental autoimmune ​disease therapy ATG-201 and associated ‌technology, paying $60 million up front and over $1.1 billion more if certain milestones are met, the ​Chinese drugmaker said Wednesday.

The deal ​underscores the "unique" capabilities of a development platform ⁠from Antengene, it said in a statement, opens new tab ​on its website. The company's Hong ​Kong-listed shares were up around 6% on Wednesday morning.

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

ATG-201 targets B-cell-related autoimmune diseases. Antengene plans to ​submit clinical trial applications in Australia and ​China in the first quarter of 2026 and ‌after ⁠completing phase I trials it will transfer further development to UCB.

Under the agreement with UCB, Antengene is eligible to ​receive an ​upfront fee ⁠of $60 million and additional payments tied to "certain conditions," development and ​commercial-related milestones, plus additional royalties ​based ⁠on net sales.

The agreement covers the development, manufacturing and commercialization of ATG-201 and ⁠access ​to associated manufacturing technology. ​UCB has been granted a worldwide licence for ATG-201.

Reporting ​by Andrew Silver; Editing by Thomas Derpinghaus

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

ON Semiconductor Corporation (ON) Morgan Stanley Technology, Media & Telecom Conference 2026 March 3, 2026 6:20 PM EST

Company Participants

Hassane El-Khoury - President, CEO & Director
Thad Trent - Executive VP, CFO, Treasurer & Principal Accounting Officer

Conference Call Participants

Joseph Moore - Morgan Stanley, Research Division

Presentation

Joseph Moore
Morgan Stanley, Research Division

All right. Welcome back. I'm Joe Moore, Morgan Stanley Semiconductor Research, and very happy to have with us the management team of onsemi, CEO and President, Hassane El-Khoury, and EVP and CFO, Thad Trent.

Question-and-Answer Session

Joseph Moore
Morgan Stanley, Research Division

So guys, thank you for coming. I really appreciate it. Maybe at a high level, you've described an environment that's kind of stabilizing but not yet accelerating. That's still the view and kind of what's driving your view of the world these days?

Hassane El-Khoury
President, CEO & Director

Yes. Look, I think our perspective is still very consistent where the first step of a recovery is stabilization. We're in that. We have not seen a replenishment cycle that comes next. But the positive signs that we can talk about is really a lot of the KPIs are trending in the right direction. So compared -- relatively speaking from 90 days ago until where we are today, book-to-bills improved. Our visibility has improved, not just the immediate quarter in turns, meaning less turns at this time for the next quarter, but also visibility out into, call it, the second half of the year. So all of these are not -- are new, relatively speaking, from where we were 90 days ago. And at this point, I'll take improvement 90 days ago relative any day. So things are getting better incrementally, not where we would call a recovery, but at least it's trending in the right direction.

, /PRNewswire/ -- Robbins Geller Rudman & Dowd LLP announces that purchasers or acquirers of Richtech Robotics Inc. (NASDAQ: RR) publicly traded securities between January 27, 2026 and 12:00 p.m. EST on January 29, 2026, inclusive (the "Class Period"), have until Friday, April 3, 2026 to seek appointment as lead plaintiff of the Richtech Robotics class action lawsuit.  Captioned Diez v. Richtech Robotics Inc., No. 26-cv-00231 (D. Nev.), the Richtech Robotics class action lawsuit charges Richtech Robotics as well as certain of Richtech Robotics' executives with violations of the Securities Exchange Act of 1934.

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

https://www.rgrdlaw.com/cases-richtech-robotics-inc-class-action-lawsuit-rr.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: Richtech Robotics develops, manufactures, deploys, and sells robotic solutions for automation in the service industry.

The Richtech Robotics class action lawsuit alleges that throughout the Class Period Richtech Robotics claimed that it had a collaborative and commercial relationship with Microsoft when it did not.

The Richtech Robotics class action lawsuit further alleges that on January 29, 2026 at 12:00 p.m. EST, Hunterbrook Media published an article entitled "Breaking: Microsoft Denies Partnership with Richtech Robotics," which alleged that "'Richtech participated in an AI Co-Innovation Lab engagement, which is a standard customer engagement focused on exploring and prototyping AI solutions using Microsoft technologies . . . .  There is no commercial element in this lab engagement.'"  On this news, the price of Richtech Robotics Class B stock fell more than 29% over two trading days, according to the complaint.

THE LEAD PLAINTIFF PROCESS: The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or acquired Richtech Robotics publicly traded securities during the Class Period to seek appointment as lead plaintiff in the Richtech Robotics 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 Richtech Robotics investor class action lawsuit.  The lead plaintiff can select a law firm of its choice to litigate the Richtech Robotics 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 Richtech Robotics class action lawsuit.

ABOUT ROBBINS GELLER: Robbins Geller Rudman & Dowd LLP is one of the world's leading law firms representing investors 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] 

SOURCE Robbins Geller Rudman & Dowd LLP

Bitcoin has entered a phase of heightened volatility as escalating conflicts in the Middle East inject fresh uncertainty into global markets. Risk assets have reacted unevenly, with crypto trading as a real-time barometer of macro stress while traditional markets intermittently close or gap. Price swings have become sharper, liquidity thinner, and short-term positioning more defensive as participants reassess exposure amid geopolitical risk.

Despite this challenging backdrop, on-chain data presents a more nuanced picture. According to analysis from CryptoQuant, Bitcoin netflow dynamics suggest that accumulation may be quietly unfolding beneath the surface. Exchange netflows — which measure the balance between coins moving onto and off trading platforms — are often a leading indicator of investor intent. Sustained outflows typically imply that participants are withdrawing assets into cold storage or long-term custody, reducing immediately available sell-side supply.

In recent sessions, netflow patterns have tilted toward outflows rather than aggressive inflows, even as headlines intensified. This divergence between price uncertainty and subdued exchange deposits hints at restrained distribution behavior.

Sustained Exchange Outflows Signal Quiet Accumulation Phase The exchange-level data adds a concrete dimension to the accumulation thesis. On Binance — which custodies roughly 665,000 BTC, or about 25% of total exchange reserves — netflows have flipped decisively negative since February 21. Outflows have dominated on most trading days, producing a cumulative withdrawal of approximately 13,500 BTC. A single session accounted for 3,848 BTC leaving the platform, a meaningful movement in the context of tightening liquidity.

Bitcoin Exchange Netflow on Binance | Source: CryptoQuant Importantly, this pattern is not isolated. Aggregated across major exchanges, netflows have remained negative for seven consecutive days. Such persistence reduces the probability of statistical noise and instead suggests coordinated positioning behavior. When coins exit exchanges, they typically move into cold storage or long-term custody solutions, mechanically reducing the immediately tradable supply.

This shift is occurring after an approximate 50% correction from cycle highs. Historically, deep retracements tend to recalibrate risk-reward perceptions. The current price zone appears to be viewed by some participants as strategically attractive rather than structurally broken.

That said, accumulation does not guarantee immediate upside. In the short term, sustained outflows can underpin range-bound conditions as supply tightens, but demand remains measured. Whether this evolves into expansion depends on the durability of inflows into spot markets.

On the 4-hour chart, Bitcoin remains locked in a corrective structure following the sharp early-February breakdown. Price is consolidating around the $66,800 region, but the broader short-term trend remains tilted to the downside. BTC continues to trade below the 50, 100, and 200-period moving averages, all of which are sloping downward — a configuration that confirms persistent bearish pressure.

Bitcoin tight consolidation below $70K | Source: BTCUSDT chart on TradingView The $68,000–$69,000 zone is acting as immediate resistance, aligning with the 100-period moving average (green). Multiple attempts to reclaim this level have failed, reinforcing it as a supply area. Above that, the 200-period moving average (red), currently near the low-$70Ks, represents a stronger structural ceiling.

On the downside, the $63,000–$64,000 region remains key support. Previous liquidity wicks into that area, triggering sharp rebounds, suggesting the presence of reactive buyers. However, the pattern of lower highs within the range indicates that upside momentum lacks conviction.

Volume has contracted compared to the breakdown phase, signaling equilibrium rather than accumulation. The market is compressing within a narrowing band, often a precursor to expansion.

A decisive 4-hour close above $69K would challenge the bearish bias. Conversely, a clean break below $63K would likely reopen downside toward the next liquidity pocket.

Featured image from ChatGPT, chart from TradingView.com 

Market maker Enflux says traders are not pricing catastrophe or resolution to the conflict in the Middle East, while Glassnode data shows improving spot demand but cautious derivatives positioning. Mar 4, 2026, 3:07 a.m.

Bitcoin’s rebound toward $70,000 — trading at $68,000 as Hong Kong hit midday — appears to have been driven more by positioning than conviction, according to market maker Enflux, which said the move largely reflected short-covering after traders leaned bearish amid geopolitical headlines.

“The market is not pricing catastrophe, but it is not pricing resolution either,” Enflux wrote in a note to CoinDesk. “Shorts leaned into the Iran headlines over the weekend, BTC flushed toward 63k, and when escalation did not immediately spiral into a broader regional war affecting the Gulf and Dubai trade corridors, the squeeze began.”

(CoinDesk)Crypto tends to react faster than traditional assets during geopolitical shocks, Enflux added.

“When bombs drop, or sanctions tighten, capital looks for exit routes. In times of uncertainty, BTC becomes a pressure valve,” the firm wrote.

Institutional demand has remained a key source of support. Over the past five trading days, BTC ETFs have attracted roughly $1.45 billion in net inflows.

Boomers to the rescue again as bitcoin ETFs record $1.5b of inflows in the past 5 days after another big day yesterday. Biggest haul in a while, just about all of the original ten spot ETFs seeing action too = breadth and depth. This after a 50%(!) drawdown and most underwater.… pic.twitter.com/eF0VJqiPZ0

— Eric Balchunas (@EricBalchunas) March 3, 2026 Onchain and derivatives indicators suggest the market is stabilizing but not yet regaining strong conviction.

In a recent report, Glassnode wrote that momentum indicators are beginning to recover from recent weakness, with bitcoin’s relative strength index rising to about 41 from 36 the previous week, though still below the neutral 50 level that would signal stronger bullish control.

Spot market conditions have also improved. Trading volume has climbed to roughly $9.6 billion from $6.6 billion the previous week, while buying and selling flows in spot markets have become more balanced, suggesting the earlier wave of aggressive selling has begun to ease.

Derivatives markets remain cautious. Glassnode said the cost of holding leveraged long positions has dropped sharply, while futures trading still shows sellers dominating buyers, signaling continued caution among leveraged traders.

Prediction markets reflect the same cooling of conviction: the probability of bitcoin falling to $65,000 in March has dropped 11 percentage points to 73%, the odds of $60,000 have fallen 10 points to 41%, and a separate Polymarket contract showing bitcoin hitting $60,000 before $80,000 has also weakened, sliding 12 points to 61%.

Together, the data suggests bitcoin has found support for now, but traders remain hesitant to price in either a decisive rally or a deeper selloff.

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