Global Markets

Grayscale’s latest research finds Bitcoin’s short-term price movements correlate more with stocks than with gold. The asset manager’s report highlights that Bitcoin’s fall alongside tech equities challenges the “digital gold” narrative Grayscale Investments released a research report

The recent decline in the cryptocurrency market is viewed as a "traditional financial event," caused by rising Japanese yen interest rates and increased borrowing costs leading traders to liquidate positions. Despite increased market volatility and active Bitcoin ETF trading, industry insiders believe that institutions have not fully withdrawn. It is expected that by 2026, traditional finance and crypto infrastructure will become further integrated.

ChainCatcher News: Denmark's largest bank, Danske Bank, is offering Bitcoin and Ethereum ETPs to investors, ending an eight-year cryptocurrency ban. Danske Bank's stance has shifted, citing a response to the growing demand from clients. Previously, the bank had explicitly stated that it would not provide any type of cryptocurrency services. While acknowledging that the cryptocurrency market has matured in recent years, it still emphasizes that cryptocurrencies are not recommended as an asset class.

iShares Digital Assets AG recently announced the issuance of 660,000 new Bitcoin ETP securities, increasing the total to 110,934,328 units, priced at $6.89 each. This ETP is traded on the London Stock Exchange, tracking Bitcoin performance, while implementing fee waivers, with an annual fee rate reduced to 0.15%. Trading is expected to begin on February 12, 2026.

Bitcoin has fallen for three consecutive days after reaching $70,000, and market panic sentiment has intensified. Although spot trading volume has decreased, stable ETF capital inflows have offset selling pressure. On-chain data indicates that this correction is mild, and short-term prices are still expected to be highly volatile. The market is paying attention to US economic data that could influence risk asset sentiment.

iShares Digital Assets AG announces the issuance of 660,000 units of iShares Bitcoin ETP, bringing the total to 110,934,328 units, priced at $6.89. The ETP tracks Bitcoin performance, with an annual expense ratio of 0.25%, temporarily reduced to 0.15%. It is expected to be traded on the London Stock Exchange on February 12, 2026.

Recently, Bitcoin's price briefly dropped below $75,000 due to weekend sell-offs, triggering a sharp change in market sentiment. Pessimistic bets on its future trend have surged on the prediction platform Polymarket. Analysts believe that the current market is influenced by technical factors and macro liquidity, while Bitcoin's core value is being overlooked. Institutional forecasts are divided, but investors should focus on tangible factors such as holding costs, macro data, and on-chain activity, and maintain their own investment logic.

The parent company of the NYSE, Intercontinental Exchange, has launched seven CoinDesk Index cryptocurrency futures contracts, including Bitcoin, Ethereum, Solana, and others, all priced in USD and settled in cash. Additionally, they plan to launch a one-month USDC futures based on the CoinDesk overnight rate, pending regulatory approval.

Odaily Planet Daily News: London Stock Exchange Group (LSEG) announced plans to integrate private equity funds into its blockchain digital market infrastructure (DMI) to build an end-to-end digital distribution network for the private market. The platform will cover the full lifecycle processes including asset issuance, tokenization, distribution, settlement, and ongoing management, aiming to improve fundraising efficiency and investor outreach. The related services are expected to go live in the first half of 2026. (Finextra)

Odaily Planet Daily reports that NASDAQ-listed company Addentax Group has announced that it has signed memoranda of understanding with two investment institutions to raise a total of $200 million through the issuance of common stock, in order to support business growth in the fields of artificial intelligence (AI) and cryptocurrency financial services. Last year, the company proposed a long-term investment and holding strategy for crypto assets, planning to acquire up to 12,000 Bitcoin and cryptocurrencies such as TRUMP. (PRNewswire)

On February 11, it was announced that Intercontinental Exchange (ICE), the parent company of the New York Stock Exchange, has officially launched a series of cryptocurrency futures products linked to the CoinDesk benchmark indices, marking a new phase in the regulated market's layout for digital asset derivatives. These contracts are settled in USD cash, providing institutional investors with a compliant channel to participate in the volatility of mainstream crypto markets such as Bitcoin and Ethereum without directly holding or custodying crypto assets. ICE stated that this batch of futures was first announced externally on January 9 and has begun trading this week. It includes a wide range of market contracts linked to the CoinDesk 20 and CoinDesk 5 indices, as well as single-asset futures tracking the price performance of Bitcoin, Ethereum, Solana, XRP, and BNB. Since these products do not involve physical delivery, they are more aligned with traditional institutions' risk management and asset allocation needs.

DWF Labs analysis suggests that the cryptocurrency market is approaching the bottom of the bear market, with Bitcoin prices fluctuating around $67,000 and liquidity decreasing. Institutional investors are beginning to buy at lows, with significant outflows from Bitcoin spot ETFs, while macroeconomic factors continue to dominate the market.

BlockBeats News, February 11th, Goldman Sachs disclosed an increase of 237,874 shares of Bitcoin Treasury Company Strategy (MSTR) stock, currently holding a total of 2.33 million shares valued at $301 million.

February 11 News, BlackRock CEO Larry Fink warned that if the United States cannot effectively control the rising debt interest expenses, global markets' confidence in the dollar could be severely impacted. He bluntly stated that if the fiscal situation continues to worsen, the dollar could eventually become "a credit symbol like Monopoly game money," a statement that quickly sparked heated discussions in financial markets. According to the latest data from the U.S. Department of the Treasury, the U.S. federal debt has approached $38 trillion, and about 20% of the government’s annual budget is used to pay interest. As interest rates remain high, borrowing costs continue to rise, and debt interest is rapidly squeezing the fiscal space originally allocated for infrastructure, education, healthcare, and defense. Fink pointed out that if this trend gets out of control, it will weaken the U.S. fiscal flexibility and undermine investors’ long-term confidence in the stability of the dollar.

On February 11, Michael Saylor responded to the continuous decline in the stock price of Strategy (MSTR), stating that the fundamental reason is not due to company operations or execution issues, but rather because Bitcoin has entered a clear bear market phase over the past four months. As a highly "Bitcoinized" publicly traded company, MSTR's stock price movement is almost entirely dependent on the BTC market cycle, a structural characteristic that has been amplified in this round of correction. Looking back at the market, Bitcoin once surged above $110,000 by the end of 2025, but then momentum weakened, and the price retreated to around $70,000, with previous gains significantly retraced. The prolonged downward trend has caused market sentiment to turn sharply negative, with risk assets under pressure across the board, and publicly traded companies with the most Bitcoin exposure bearing the brunt.

February 11 News, crypto market maker Wintermute pointed out in its latest market commentary that the AI investment boom has been ongoing for several months, drawing away available global funds and weakening the growth momentum of Bitcoin and the entire cryptocurrency market. The organization believes that if AI-related trading continues to dominate capital, digital assets may find it difficult to outperform other risk assets in the medium term. Wintermute stated that the current market is experiencing a clear sector rotation, with funds flowing heavily into AI stocks, which has compressed the liquidity available for inflows into the crypto space. Over the past year, driven by demand for chips, cloud computing, and automation, many leading AI companies saw stock price increases of over 200%, attracting significant institutional allocations. In contrast, Bitcoin and mainstream crypto assets, while still above the lows of the previous cycle, have lagged significantly behind the AI sector in terms of gains.

On February 11, Bitcoin prices slightly retreated but remained around $66,000, with the market holding its breath as it awaits guidance from several key macroeconomic data points, including the latest U.S. employment report, Consumer Price Index (CPI), and the potential risk of a government shutdown. Ethereum also came under pressure, with prices still below $2,000, reflecting a generally weak risk appetite in the crypto market. The current total market capitalization of digital assets is approximately $2.29 trillion, down about 2.5% over the past 24 hours. In the United States, the delayed January employment report will disclose non-farm payrolls, unemployment rate, and wage inflation, which are considered important indicators for assessing the economic start in 2026. Previously, in December, about 50,000 new jobs were added, and the unemployment rate dropped to 4.4%. Economists expect January's new job additions to rebound to 55,000, with the unemployment rate likely remaining unchanged. Tariff policies, immigration restrictions, and the accelerated replacement of traditional jobs by artificial intelligence are seen as the main variables disrupting the labor market.

Odaily Planet Daily reports that Gate data shows spot gold has risen above $5,070 per ounce, up 0.94% today.

Wintermute attributes crypto's sluggish growth to a shift in capital to AI investments, which have surged in 2025. The firm predicts that crypto may struggle until AI's momentum wanes, highlighting the interconnectedness of market liquidity and sector performance.

On February 11, it was reported that the US spot Bitcoin ETF recorded net capital inflows for the third consecutive trading day, attracting approximately $167 million on Tuesday. The total inflow for this week has reached $311.6 million, nearly offsetting last week's outflow of $318 million. Previously, these products experienced three consecutive weeks of negative inflows, with total outflows exceeding $3 billion. Although Bitcoin's price has fallen about 13% over the past seven days and briefly dropped below $68,000, capital movement indicates that there has been no large-scale withdrawal by institutions. Several analysts pointed out that recent selling pressure has significantly eased, and the ETF capital curve shows signs of stabilization, with market sentiment gradually recovering.