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Home Cryptocurrency Altcoins

rewrite this title Is the White House about to stack Bitcoin

Web3 Market Analyst, BitDegree by Web3 Market Analyst, BitDegree
February 4, 2025
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rewrite this content using a minimum of 1000 words and keep HTML tags

Plus: The US Treasury might be handing Elon Musk your data

GM. The market’s tossed us a few lemons, but we’ve whipped up a spicy margarita of insights to make it all go down smooth.

🐙 Kraken is now offering crypto derivatives in the EU.

🍋 News drops: the US Treasury might be giving away your data to Elon Musk, MicroStrategy broke its BTC shopping spree + more

Divider

🍍 Market flavor today

Breathe innnn… breathe outttt… 😮‍💨 See? No need to panic – the market’s looking way better today.

The Fear & Greed Index bounced back to “Greed” after dipping to the orange zone yesterday, and if you look at the price table, you’ll see a whole lot more green.

If you spent yesterday… idk, in a coma, here’s a TL;DR: it was a mess. Everything tanked, the crypto market coughed up over $2B in liquidations, Bitcoin ETFs had $234.4M in outflows. Yeah, oof.

But Santiment’s @brianq explained that these drops are actually healthy in the long run. Imagine you’re blowing up a balloon: if you keep pumping air, sooner or later it’ll pop. So, basically, drops are crypto’s way of letting some air out:

Flushing out weak hands;

Reducing market excess, so prices don’t skyrocket on pure hype;

Getting rid of dangerous, over-leveraged bets.

Overall: giving the market a chance to stabilize and rally back up.

And speaking of rallying, analyst Michaël van de Poppe says that as long as Bitcoin stays above $93K, a new ATH is likely.

Meanwhile, today’s markets got a boost from the news that US tariffs on Mexico and Canada would be delayed by a month.

Donald Trump also signed an executive order to create a first-of-its-kind sovereign wealth fund (and rumor has it that could lead to the government buying Bitcoin).

Oh, and trader Jelle pointed out there’s a White House press conference later today (2:30 PM ET) to discuss the administration’s plans for digital assets – so, stay tuned, they might drop some more good news.

Divider

🥝 Memecoin harvest

These tokens are out here giving lectures on how to get from ‘haha funny’ to ‘haha money’ overnight 🤠

 

Name

 

24H Change

Andy Warhol Queen Elizabeth II

Andy Warhol Queen Elizabeth II QUEEN

▲1.6K%

Robinhood

Robinhood HOOD

▲151%

The Next Bitcoin

The Next Bitcoin BUTTCOIN

▲109%

SNAI

SwarmNode.ai SNAI

▲83%

Data as of 06:50 AM EST.

Check out these memecoins and plenty more here.

Divider

Legend has it that deep in the icy waters between Norway and Iceland, there’s a giant squid-like monster lurking beneath the surface, ready to drag entire ships into the abyss. This creature is the Kraken.

Luckily, the crypto version of Kraken isn’t that dramatic – it’s only dragging Europe into crypto derivatives.

Yellow glasses guy meme

Kraken got a Markets in Financial Instruments Directive (MiFID) license, which allows it to offer crypto derivatives products throughout the EU – a region the exchange describes as one of the most active for crypto derivatives trading.

“What are they, anyway?” someone who’s new to finance may ask. If that someone is you – lucky you’re here, pal 😃👍

They are contracts that let traders bet on the future price of a cryptocurrency. Instead of buying or selling the actual coins, you sign an agreement stating what you think the price will be at a future date.

If you’re right, you make a profit;

If you’re wrong, you lose money.

Sounds simple. But because crypto prices can rise and fall very quickly, these derivatives can amplify both gains and losses – so it’s a high-risk option for traders who want bigger returns.

And why does Kraken offering this matter?

More competition = exchanges fighting for your attention = better products, more innovation, and potentially lower trading fees;

More trading options = more money flowing into crypto = 🚀

Now you’re in the know. But think about your friends – they probably have no idea. I wonder who could fix that… 😃🫵

Spread the word and be the hero you know you are!

Divider

🍋 News drops

🗂 Union groups are taking the US Treasury to court. They claim that it broke the law by letting Elon Musk’s Department of Government Efficiency dig through people’s financial and personal data.

⚖️ A Canadian man, Andean Medjedovic, has been charged with stealing $65M from KyberSwap and Indexed Finance. Prosecutors say he borrowed massive amounts of tokens, manipulated smart contracts, and cashed out at rigged prices – leaving investors with nothing but regrets.

⏸ MicroStrategy broke their 12-week streak of nonstop Bitcoin buys. The company’s holdings are now 471,107 BTC, bought for over $30B. Guess even Michael Saylor takes a breather…

👍 Coinbase got the FCA’s approval to operate as a registered crypto service provider in the UK. It can now serve both retail and institutional customers, which makes the UK its biggest market outside the US.

🤔 Is MEXC a solid choice? We did the homework – you get the answers.

Divider

🍌 Juicy memes

and include conclusion section that’s entertaining to read. do not include the title. Add a hyperlink to this website [http://defi-daily.com] and label it “DeFi Daily News” for more trending news articles like this



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