BTC

Bitcoin

Bitcoin prepares for a fourth consecutive month of declines, echoing previous cycles. Analysts anticipate a relief rally may precede the cycle's true bottom. Continue Reading: Bitcoin Faces Fourth Straight Monthly Decline as Historical Patterns Reemerge The post Bitcoin Faces Fourth Straight Monthly Decline as Historical Patterns Reemerge appeared first on COINTURK NEWS .

KAS volume remains low at 14M$, weakening the downtrend and giving accumulation signals. Price-volume divergence carries reversal potential, BTC correlation critical.

Michael Saylor debunked quantum computing threats, emphasized BTC's upgradable structure. MicroStrategy bought 592 BTC, reached a total of 717K BTC. Vitalik Buterin is preparing for ETH. Net Holdin...

Bitcoin’s recent wobble has traders on edge, but the picture is not all one-way. Reports note heavy losses for late buyers, and on-chain figures show real money changing hands as positions are forced closed. Markets moved fast; the mood did too. Related Reading: XRP Flashes Rare On-Chain Signal That Once Preceded 114% Gains Fear And Greed Plunges To Single Digits According to CoinGlass, more than 144,839 traders were liquidated in the last 24 hours, with total liquidations of over $508 million and about 92% tied to long bets. Reports from Alternative.me put the Crypto Fear and Greed Index at 5 out of 100 — a reading that has turned up only three times since 2018. That level screams panic. Yet panic often clears out the most fragile holders and leaves room for steadier hands to step in. Realized Losses And Capitulation Signals Based on reports from Glassnode, recent investors are still booking losses at a high rate — the seven-day moving average for net realized losses was close to $500 million per day. That kind of selling pressure looks brutal on a chart. At the same time, selling at scale can mark an end to a sharp phase of decline, because it reduces the number of people left to sell when prices fall further. Bitcoin Price Action In the middle of all this, price moves matter. Bitcoin rose to roughly $68,600 on Saturday, but it slid back and touched the mid-$64,000s after a wave of exits. Traders are watching a range that formed after the early-February drop to about $60,000. The coin remains roughly 48% below an October high of $126,000 and about 5.5% under the 2021 peak near $69,000. News tied to US-Iran tension and general risk-off trading pushed some traders toward safer assets, which added fuel to the pullback. Sharpe Ratio Hits Unusual Low Analyst Michaël van de Poppe shared a chart showing Bitcoin’s Sharpe Ratio at -38.4. That metric measures returns relative to risk; a number this low is rare. This is a phenomenal chart. It shows the Sharpe Ratio for #Bitcoin in the short term. The key takeaway: the Sharpe Ratio has dropped to -38.38, which historically has marked “Low Risk” accumulation zones. The red circles highlight every time the Sharpe Ratio dipped to similar… pic.twitter.com/Nwp7SkfVP4 — Michaël van de Poppe (@CryptoMichNL) February 21, 2026 Historically, extreme negative readings have sometimes lined up with moments when buying risk felt lower, because potential downside had been squeezed out by big selloffs. That does not guarantee a rebound, but it changes how investors view the trade-off between reward and risk. Related Reading: Political Meme Coins Implode: TRUMP Down 92%, MELANIA Nearly Wiped Out Where This Could Lead Some technical watchers warn that more tests of support could happen if uncertainty continues. Others point to the combination of heavy liquidations, deep fear readings, and large realized losses as signals that a base might be forming. Pasts on-chain figures show that panic and steep losses often precede quieter periods where buyers return slowly. Featured image from Unsplash, chart from TradingView

A thread sparked by Bloomberg ETF analyst Eric Balchunas reignited one of crypto’s oldest arguments: whether Bitcoin’s core value proposition has been diluted as institutional intermediaries take center stage. What began as a reflection on crypto’s real-world utility quickly turned into a pointed dispute over whether BTC can credibly be called “debasement-resistant” while it remains wildly volatile. Bitcoin Identity Debate Explodes on X Balchunas weighed in after Cooper Turley, founder of Coop Records, posted that crypto feels “in the weirdest spot” since 2017 and that beyond speculation it’s “hard to see how it adds meaningful value to people’s lives.” Balchunas’ response framed Bitcoin’s novelty less as a product category and more as a monetary property set. “Seeing this a lot. My two cents: the novel value of bitcoin is that it is user-run money that is both censorship and debasement-resistant,” Balchunas wrote. “Far as I can tell nothing has changed about that. However bc the current admin is so on board with it, the censorship part may seem less valuable, but just wait a few yrs, that could come in handy (it already does in many emerging/frontier mkt countries).. and debasement is alive and well, even dogs know that ain’t ever stopping.” He argued that Bitcoin’s “youth” is a major driver of volatility, and that market price tends to hijack the narrative. “Price is a smoke screen that the most successful investors have learned to see through/ignore,” he added, extending the critique to traditional markets as well. The “co-opted” question surfaced explicitly when Balchunas addressed long-time holders uneasy with BTC being increasingly accessed through Wall Street wrappers. His take: the asset didn’t change; the gatekeepers did. “And for the OGs feeling like the establishment has co-opted their ‘outsider’ money.. all that really happened was the intermediaries got upgraded,” Balchunas wrote. “You went from paying high fees to SBF only for him to ‘lose’ your money to Larry Fink et al, who do same thing (outsourced your btc) but in a way that’s much cheaper and safer. Underlying btc hasn’t changed at all the whole time.” Is Bitcoin Still A Debasement-Trade? That framing didn’t satisfy critics who see Bitcoin’s volatility as fatal to the “debasement-resistant” label. Host of Chicago Future of Finance Oliver Renick pushed back sharply, arguing that a money that can swing the way Bitcoin does is effectively experiencing repeated “debasement events” by any practical standard. “Debasement-resistant is biggest error here IMO,” Renick wrote. “If the dollar were down as much as btc can do on any given week, the world would go nuts, i.e, bitcoins volatility goes thru a debasement event like 3 times a year compared to the dollar where a 2% is a big deal. It’s rly bad money.” Balchunas conceded the point partially on timeframe: “I think more longer term but it’s a fair point” but the exchange escalated when Renick questioned Bitcoin’s staying power. “And there it gets crushed again versus dollar and gold. Bitcoin may not make it to its 20th birthday, who knows,” he wrote. Balchunas responded by pointing to recent performance as evidence that Bitcoin has “banked” substantial gains, citing “2023 and 2024” and “450%.” Renick’s rebuttal remained categorical: “Again , volatility intolerable of money.” Balchunas agreed Bitcoin is “too volatile rn to be widespread currency” and needs to “mature and settle down,” but rejected the conclusion that this reduces Bitcoin to censorship resistance alone. “So that leaves you with just censorship resistance,” Renick wrote, suggesting that value might be far lower — “maybe $10k a coin” — before Balchunas returned to first principles: “It is debasement resistant, govt can’t dilute it- that’s true even if it is volatile.” Balchunas closed by challenging the idea that shorter windows are dispositive, contrasting gold’s “20%” rise in “2023 + 2024” with Bitcoin’s “450%” move, and returning to the “young asset” thesis: it “gets ahead of itself then falls.” The thread leaves a familiar fault line exposed. For Balchunas, institutional plumbing doesn’t change Bitcoin’s properties, and volatility is a maturity problem that can coexist with long-term dilution resistance. For critics, volatility isn’t a side effect, it’s the disqualifier, collapsing the “money” narrative and forcing a narrower censorship-resistance-only valuation debate. At press time, BTC traded at $66,207.

BitcoinWorld ProCap Financial Defies Market Plunge with Aggressive Share Buyback Strategy In a bold counter-move against an 85% stock price collapse, ProCap Financial, the pioneering Bitcoin treasury corporation, is dramatically accelerating its share repurchase program. This strategic decision, reported by Decrypt in March 2025, signals a profound corporate commitment to restoring shareholder value through direct market intervention. The company, steered by prominent investor Anthony Pompliano, recently executed a $359,000 purchase of 148,241 BRR shares. Consequently, this action forms a critical part of a broader financial recalibration aimed at aligning its market net asset value (mNAV) with its substantial underlying Bitcoin holdings, which currently stand at 5,007 BTC. ProCap Financial’s Buyback Program: A Strategic Deep Dive ProCap Financial initiated its share repurchase authorization in December 2024, marking a deliberate shift in capital allocation strategy. Since that inception, the company has systematically repurchased approximately 2% of its total outstanding shares. This methodical approach demonstrates a long-term vision rather than a reactive, short-term fix. Furthermore, the program’s expansion coincides with a period of significant market pressure on the BRR share price, which has retreated sharply from its historical highs. The core strategic objective remains unequivocal: to bridge the gap between the company’s market capitalization and the net asset value of its Bitcoin treasury. By reducing the share count, each remaining share represents a larger proportional claim on the company’s primary asset—its Bitcoin reserve. The Mechanics of Market Net Asset Value (mNAV) Market Net Asset Value serves as a crucial metric for investment trusts and holding companies like ProCap Financial. Essentially, it compares the total market value of the company’s assets, primarily Bitcoin, against its total liabilities and share count. A ratio below one indicates the stock trades at a discount to the underlying asset value. ProCap’s leadership has explicitly stated its goal is to restore this mNAV ratio to one. Therefore, the buyback program directly targets this metric by simultaneously reducing the share count (the denominator) while deploying cash reserves. This creates a powerful mathematical lever for enhancing per-share value, provided the underlying asset—Bitcoin—maintains or appreciates in value. Anthony Pompliano’s Leadership and Personal Investment The strategic direction of ProCap Financial is deeply intertwined with its founder, Anthony Pompliano, a well-known figure in the cryptocurrency investment space. His firm, Pomp Investments, provides the foundational leadership for the Bitcoin treasury company. Demonstrating exceptional alignment with shareholder interests, Pompliano personally invested $1 million to purchase company stock concurrently with the initial buyback program launch in December. This substantial personal capital commitment acts as a powerful signal of confidence to the market. It underscores a belief in the intrinsic long-term value proposition of the corporate model, which hinges on Bitcoin’s adoption as a treasury reserve asset. His public advocacy for Bitcoin as a corporate balance sheet asset provides essential context for ProCap’s unwavering strategy amidst volatility. Contextualizing the 85% Stock Price Decline BRR’s share price depreciation must be analyzed within the broader context of the cryptocurrency and equity markets. Several interconnected factors typically contribute to such a correction: Macroeconomic Headwinds: Rising interest rates and inflationary pressures have historically dampened investor appetite for speculative assets, including cryptocurrency equities. Bitcoin Price Volatility: As a Bitcoin-centric company, ProCap’s stock exhibits a high correlation with BTC’s market price, which has experienced its own significant drawdowns from all-time highs. Sector-Wide Sentiment: The entire blockchain and digital asset sector faced regulatory scrutiny and investor reevaluation throughout 2024 and into 2025. Discount to NAV Phenomenon: Many closed-end funds and holding companies trade at persistent discounts to their net asset value, especially during risk-off market environments. This environment frames ProCap’s buybacks not as a panic response, but as a disciplined execution of a pre-defined value-creation plan. The Corporate Bitcoin Treasury Trend: ProCap’s Position ProCap Financial operates within a growing niche of companies adopting Bitcoin as a primary treasury asset. This trend, pioneered by firms like MicroStrategy, represents a fundamental shift in corporate finance. The following table contrasts key metrics of prominent Bitcoin-holding corporations (data illustrative as of Q1 2025): Company Bitcoin Holdings (Approx.) Primary Strategy Market Response MicroStrategy ~190,000 BTC Aggressive Accumulation & Hold High Volatility, High Correlation to BTC ProCap Financial (BRR) 5,007 BTC Treasury Holding & Share Buybacks Trading at Significant Discount to NAV Tesla (Historical) ~10,000 BTC (Peak) Diversified Treasury Asset Partial Divestment Amid Market Shifts ProCap’s model is distinct in its explicit focus on using its Bitcoin-backed balance sheet to engineer equity value through mechanisms like share repurchases. This approach highlights a maturation in the “corporate Bitcoin” thesis, moving beyond mere accumulation to active capital management. Expert Perspectives on Buybacks in Volatile Sectors Financial analysts often view buyback programs during downturns through two lenses. On one hand, they represent a confident allocation of capital, suggesting management believes the stock is undervalued. On the other hand, critics argue the funds could be reserved for operational runway or alternative investments. For a Bitcoin treasury company, the calculus is unique. Using U.S. dollar reserves to buy back stock indirectly increases the Bitcoin exposure per share without purchasing more BTC directly. This is a nuanced strategy that balances asset accumulation with shareholder returns. Experts in corporate finance note that such programs are most effective when the core asset has strong long-term fundamentals, a belief clearly held by ProCap’s leadership regarding Bitcoin. Potential Impacts and Future Trajectory The ongoing buyback program presents several potential outcomes for ProCap Financial and its shareholders. Firstly, a sustained repurchase effort can provide a technical floor for the stock price by creating consistent demand in the market. Secondly, if successful in raising the mNAV toward parity, it could attract a new class of value-oriented investors seeking exposure to Bitcoin at a discount. However, the strategy is not without risk. It relies on the company maintaining sufficient liquid fiat reserves to execute buybacks without jeopardizing operations. It also remains tethered to the performance of Bitcoin itself. The long-term success of this model will serve as a critical case study for the viability of pure-play Bitcoin treasury corporations as a sustainable asset class. Conclusion ProCap Financial’s decision to expand its share buyback program amidst a severe stock price decline embodies a high-conviction, long-term strategy rooted in the Bitcoin treasury thesis. Led by Anthony Pompliano, the company is leveraging corporate finance mechanics to directly address the discount between its market price and underlying asset value. While the broader market volatility presents significant challenges, the disciplined execution of buybacks, coupled with leadership’s personal investment, outlines a clear path toward value restoration for shareholders. The evolution of ProCap Financial will undoubtedly be watched closely as a bellwether for the integration of Bitcoin into traditional corporate capital allocation strategies. FAQs Q1: What is ProCap Financial’s primary business model? ProCap Financial operates as a Bitcoin treasury company, meaning it holds a significant reserve of Bitcoin (5,007 BTC as of the report) as its core asset on its balance sheet, akin to a specialized investment trust or holding company for the cryptocurrency. Q2: Why is ProCap buying back its own shares during a stock plunge? The company aims to restore its market net asset value (mNAV) to a level of one. By repurchasing shares at a perceived discount, it reduces the total share count, thereby increasing the proportional claim each remaining share has on the underlying Bitcoin holdings, which should, in theory, enhance per-share value. Q3: How much has Anthony Pompliano personally invested in ProCap? Anthony Pompliano, the founder of Pomp Investments which leads ProCap, personally invested $1 million to purchase company stock in December 2024, aligning his interests directly with shareholders and signaling confidence in the strategy. Q4: What does an 85% stock price decline from peak mean for the company? It reflects a significant market repricing, likely influenced by broader Bitcoin price volatility, sector-wide sentiment shifts, and macroeconomic factors. It does not directly impact the company’s operational holdings of Bitcoin but creates a wide gap between market capitalization and the value of its treasury. Q5: Are share buybacks a common strategy for cryptocurrency companies? While not uncommon in traditional finance, explicit buyback programs are less frequent in the crypto-native public company space. ProCap’s approach is part of a maturation trend where crypto-focused firms adopt sophisticated capital management strategies to navigate market cycles and deliver shareholder value. This post ProCap Financial Defies Market Plunge with Aggressive Share Buyback Strategy first appeared on BitcoinWorld .

The spot Bitcoin ETFs recorded four straight months of outflows, with hodlings down 85,000 BTC since October 2025. Is slowing institutional demand the death knell for BTC price?

ATOM continues its downtrend with a weekly 4.86% drop, critical support at $1.9722 is being tested. MACD bullish signal offers recovery potential, but BTC downtrend is the dominant factor.

A major Bitcoin miner just wiped its balance sheet clean.Bitdeer has reduced its corporate Bitcoin holdings to zero, selling both newly mined coins and reserves accumulated over the past months. The move caps an eight-week drawdown that began in late December, when the company st...