Market Rebounds After Bybit Hack; Nvidia Earnings To Watch
By Manoj Dharra
How is the market reacting to 1.5 billion dollar hack of Bybit
Why March 1st is an important day for SOL
Tech Giant Nvidia and its earnings impact all in action in today coin monitor
1) U.S. spot Bitcoin exchange-traded funds have experienced their second consecutive week of over $500 million in outflows leading up to Feb. 21. Since Feb. 6, Bitcoin ETFs have recorded $1.1 billion in net outflows, making February 2025 the worst month for withdrawals since their inception over a year ago.
2) Georgia Introduces 2nd Bitcoin Reserve Bill (SB 228) The bill will allow the state to invest in $BTC WITHOUT limits.
3) Hong Kong Investment Firm’s Board Gives Nod To More Bitcoin Buying: Shares in HK Asia Holdings Limited nearly doubled after it bought its first Bitcoin a week ago, and now the investment firm just bought another 7 BTC.
4) Michael Saylor Hints at MicroStrategy’s Next Major Bitcoin Acquisition: Michael Saylor’s Bitcoin tracker post has sparked speculation that Strategy (formerly MicroStrategy) may be preparing for another major Bitcoin purchase
5) Altcoins – SOL Leads the Altcoin Decline – Major Altcoins XRP, BNB, ADA, LINK, AVAX are in the red..
6) According to CryptoQuant data, Ether whales, holding between 10,000 to 100,000 Ether, have accumulated $140 million worth of Ether since the hack.
7) SOL has plummeted by more than 7% to levels below $160 as investors grow weary of the upcoming FTX 11.2 million Solana unlocking, coming up on March 1, many investors have grown weary that the event could influence the
Here’s what to keep an eye on
Tuesday!
CB Consumer Confidence data drops. Sentiment shifts can spark volatility.
Wednesday!
January New Home Sales data. A key indicator of economic health and Nvidia ($NVDA) EarningsEarnings Reports.
Thursday!
US Q4 2024 GDP Data. A strong GDP print could boost investor confidence, but a slowdown might spark concerns.
Friday!
January PCE Inflation Data. The Fed’s favorite inflation measure. Could be crucial for rate expectations.
Tech Check:
However, for the past three weeks, bitcoin has been struggling to break above the $100k mark. As of now, Bitcoin is consolidating, around $95,890, down 1% in the past 24 hours.
The key challenge is the $97,000 resistance, which lines up with the 50-day EMA. A breakout above this level could spark a strong rally, while rejection may lead to a drop.
If Bitcoin pushes past $97,000, it could aim for $98,500 and even the major $100,000 mark. But if it fails, a pullback to $95,000 is likely, with further downside potential to $93,500 or even $92,000.
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