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Your Daily Digest of the 🔥Hottest News in Crypto

Today's top stories:

👀 Is the Bitcoin bottom in?

👉 MicroStrategy will hodl $30B

📺 Crypto in 2025: Which Coins Will Dominate?

📰 Keep reading to find out about all of today's top stories and more

Is the Bitcoin bottom in? BTC derivatives point to limited price downside

Bitcoin derivatives data suggest the bottom is in, but investors' fears could limit a recovery beyond $100,000.

The cryptocurrency market experienced a surprise 17% correction on Feb. 2, bringing the total market capitalization (excluding stablecoins) to $2.61 trillion, the lowest level in nearly eight weeks. Bitcoin was less affected than altcoins, while Ether dropped 35% over two days to $2,133.

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MicroStrategy halted Bitcoin purchases, says it will hodl $30B BTC

Michael Saylor, executive chair of MicroStrategy, announced that that firm had broken with its pattern of selling shares of its common stock to purchase Bitcoin.

In a Feb. 3 X post, Saylor said MicroStrategy was holding 471,107 Bitcoin as of Feb. 2, which the firm purchased for more than $30 billion. According to Saylor, MicroStrategy did not sell any of its stock shares between Jan. 27 and Feb. 2, just seven days after the firm announced it had acquired more than 10,000 BTC worth roughly $1 billion at the time.

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Trump names Treasury Sec as acting CFPB head after firing predecessor

US Treasury Secretary Scott Bessent, confirmed by a majority in the Senate less than seven days ago, will also take on the role of acting director of the Consumer Financial Protection Bureau (CFPB) following an order from President Donald Trump.

In a Feb. 3 notice, the CFPB said Bessent would become acting head of the government agency after Trump fired Rohit Chopra. The former director said in a letter to the US president on Feb. 1 that he hoped his replacement would act on the evidence involving "law enforcement investigations of Big Tech and Wall Street firms."