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Investment bank Stifel has warned that Bitcoin could fall to $38,000, based on an analysis of past market cycles, Walter Bloomberg reported. Stifel cited several factors for the potential decline, including the Fed's monetary tightening, a slowdown in the pace of U.S. crypto regulation, reduced liquidity, and large-scale ETF outflows. The bank also explained that market sentiment has entered a stage of extreme fear, suggesting waning interest from both institutional and retail investors.

Whale Alert reported that 254,300,000 USDT has been transferred from an unknown wallet to Bitfinex. The transaction is valued at about $254 million.

The U.S.-based Chicago Mercantile Exchange (CME) Group is considering issuing its own coin, Coindesk reported. CEO Terry Duffy said the company is looking into launching its own token that would operate on a decentralized network, suggesting that a token from a major financial institution would be more trustworthy for margin trading than one from a third or fourth-tier bank. Duffy added that CME is exploring various plans using its own coin, not just tokenized cash. The company is reportedly collaborating with Google on a "tokenized cash" solution scheduled for release later this year. When asked whether the potential coin would be a stablecoin, a payment token, or serve another purpose, Duffy did not comment.

According to CoinNess market monitoring, BTC has risen above $74,000. BTC is trading at $74,063.53 on the Binance USDT market.

The probability of Bitcoin's price dropping below $70,000 has increased to 82% on the prediction market Polymarket.

U.S. Treasury Secretary Scott Bessent said he has no opinion on whether President Trump has the authority to fire the Federal Reserve Chair and its governors over policy disagreements, Walter Bloomberg reported. He added that he considers the Fed to be an independent institution.

The three major U.S. stock indices are trading mixed today. - S&P 500: -0.85% - Nasdaq: -2.15% - Dow Jones: +0.16%

Major exchanges have seen $116 million worth of futures liquidated in the past hour. In the past 24 hours, $879 million worth of futures have been liquidated.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

U.S. Treasury Secretary Scott Bessent has advocated for a Strategic Bitcoin Reserve (SBR), calling it a government asset. He noted that after seizing $1 billion in Bitcoin, the government retained $500 million, which has since appreciated in value to over $15 billion, according to a post on X by Bitcoin Magazine.

U.S. Treasury Secretary Scott Bessent said the administration is not planning to introduce a central bank digital currency (CBDC), Walter Bloomberg reported. He added that he believes the same is true for the Federal Reserve. His comments came in response to a question from Representative Warren Davidson, who has previously described CBDCs as a form of communist currency.

According to CoinNess market monitoring, BTC has fallen below $73,000. BTC is trading at $72,914.98 on the Binance USDT market.

The U.S. Bureau of Labor Statistics (BLS) announced it has postponed the release of its January non-farm payrolls data, originally scheduled for this week, to Feb. 11. The Consumer Price Index (CPI) for January is scheduled for release on Feb. 13.

Coinbase announced it will list Doodles (DOOD).

Trend Research is presumed to have sold an additional 10,000 ETH, worth $21.2 million, after depositing the assets to Binance five minutes ago, according to ai_9684xtpa. This move followed the firm's withdrawal of 30 million USDT from Binance 15 minutes ago to repay a loan.

Whale Alert reported that 1,000 million USDT has been minted at the Tether Treasury.

The price correlation between Bitcoin and U.S. software stocks is deepening, CoinDesk reported. According to research from ByteTree, the correlation coefficient between Bitcoin and the iShares Expanded Tech Software ETF (IGV) has risen to 0.73. Year-to-date, the IGV has fallen approximately 20%, while Bitcoin has dropped 16%. ByteTree noted that the average bear market for tech stocks lasts about 14 months. Considering the current BTC downturn began last October, the firm suggested Bitcoin could continue to face downward pressure through the end of this year. Another analyst pointed out that because Bitcoin is fundamentally open-source software, it may not be immune to the AI-related challenges facing the software sector.

U.S. Representative Meeks has called on Treasury Secretary Scott Bessent to halt a bank charter from the Office of the Comptroller of the Currency (OCC) for WorldLibertyFinancial (WLFI) pending an investigation into the company's ties with the United Arab Emirates (UAE), The Block reported. Rep. Meeks strongly criticized the connection between WLFI and the UAE. The call for a probe follows a $500 million investment in WorldLibertyFinancial by a member of the UAE's royal family, after which the U.S. authorized the sale of hundreds of thousands of Nvidia AI chips to the country. The OCC recently rejected a separate demand from a U.S. senator to launch a special investigation into the bank's chartering process.

Lookonchain reported that MicroStrategy's Bitcoin holdings are currently facing an unrealized loss of approximately $1.5 billion. The company was previously in an unrealized loss position for over 500 days from 2022 to 2023. Despite this, MicroStrategy has only sold its BTC once, selling 704 BTC on Dec. 22, 2022, and immediately repurchasing 810 BTC. Since that transaction, the firm has strictly maintained a buy-and-hold strategy, Lookonchain noted.

Some Republican lawmakers are urging the Treasury Department to buy Bitcoin, Walter Bloomberg reported. Senator Cynthia Lummis has proposed that Treasury Secretary Becent use the nation's gold reserves to purchase BTC. She previously raised a similar idea last year.

Seven Russians have been indicted on charges of attacking a blogger and extorting $42,000 worth of cryptocurrency, DL News reported. The accused could face up to 15 years in prison. Prosecutors stated that the group acted on the instructions of an unidentified mastermind. Attacks targeting cryptocurrency holders have been on the rise in recent months, both in Russia and globally.

The U.S. Treasury Department does not have the authority to bail out Bitcoin, Walter Bloomberg reported. In response to a question from Senator Sherman about whether the Treasury could intervene, Treasury Secretary Bessent stated that the department is not authorized to purchase cryptocurrency with taxpayer money.

BBVA, Spain's second-largest bank by assets, has joined Qivalis, a consortium of 12 major EU banks, CoinDesk reported. Qivalis plans to launch a euro-denominated stablecoin in the second half of this year to counter the digital dollar.

Fidelity's stablecoin, FIDD, has launched for both individual and institutional investors, The Block reported. Issued on Ethereum, FIDD can be directly purchased or redeemed on the Fidelity Digital Assets, Fidelity Crypto, and Fidelity Crypto for Wealth Managers platforms.

Vetle Lunde, head of research at K33, has analyzed that while Bitcoin has fallen approximately 40% from its all-time high, a complete repeat of past bear market scenarios is unlikely. He stated that the four-year cycle is no longer valid. According to Lunde, an 80% drop like those seen in previous bear markets will not occur due to increased institutional investment, the influx of regulated products, and an environment of interest rate cuts. He added that $74,000 is a key support level, and if BTC falls below it, the decline could accelerate toward the November 2021 high of around $69,000 or the 200-week moving average at $58,000.