Dogecoin Rises Above 10 Cents Wednesday

Bitcoin was trading around $69,500 Wednesday afternoon, up around 7% on the day, while Dogecoin climbed more than 12% to above 10 cents, extending a powerful intraday move.

Dogecoin’s outsized move is a familiar pattern in crypto markets. Bitcoin functions as the system’s reserve asset: when it breaks higher, it signals a broad risk-on turn for digital assets. Large investors typically rotate fresh capital into Bitcoin first, pushing prices and sentiment higher.

As confidence builds and early gains in Bitcoin crystallize, traders hunt for higher beta plays: cheaper tokens that historically move more than Bitcoin on a percentage basis.

Dogecoin, with…

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Bitcoin (CRYPTO: BTC) appears to be tracking a familiar midterm-year bear market pattern, with one analyst warning that any early March strength may prove temporary rather than signaling a durable low.

Bounce In Early March, But A Bull Trap?

Crypto analyst Benjamin Cowen says Bitcoin is closely mirroring price behaviour seen in prior midterm years, 2014, 2018 and 2022,: weakness into February, a brief rally in early March, and then another leg lower into spring.

While Cowen acknowledges that a short-term bounce looks increasingly likely, he cautions it may be a bull trap rather than a true cycle bottom.

From a technical standpoint, several historical bear market bottom conditions remain…

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Circle Internet Group (NYSE:CRCL) surged 22% after its Q4 earnings report as the company targets 40% compound annual growth for USDC (CRYPTO: USDC) circulation.

The Earnings Beat

Circle reported Q4 revenue and reserve income of $770 million, driven primarily by reserve income reaching $733 million. 

Average USDC in circulation doubled year-over-year to $76.2 billion, though the reserve return rate declined 68 basis points to 3.8%.

USDC circulation ended the year at $75.3 billion, up 72% from the end of 2024. Net income from continuing operations hit $133 million for Q4 compared with $4 million in the prior-year period. 

Meanwhile, adjusted EBITDA reached $167 million, a 412% increase from…

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Tether (CRYPTO: USDT) invested in Whop, the internet marketplace supporting 18.4 million users earning $3 billion annually, to integrate stablecoin payments as CEO Paolo Ardoino called it “the future of Internet Markets.”

The Platform Metrics

Whop operates as an internet marketplace where people create, connect, and transact in one place. 

The platform supports more than 18.4 million users earning approximately $3 billion annually, with gross transaction volume increasing roughly 25% month-over-month.

Whop will integrate Tether’s Wallet Development Kit (WDK) to offer creators and users faster global payments while allowing direct control over funds. 

The framework enables seamless…

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Sen. Richard Blumenthal (D-NY) has launched an investigation into Binance (CRYPTO: BNB) after $1.7 billion flowed to Iranian terrorists including the Revolutionary Guard Corps, demanding records on why compliance staff who discovered the transfers were fired.

The $1.7 Billion Flow

Blumenthal wrote to Binance CEO Richard Teng citing Wall Street Journal, New York Times, and Fortune reports.

Binance compliance staff found two partners—Hexa Whale and Blessed Trust—acted as intermediaries for laundering money to Iranian government entities.

Internal investigators found cryptocurrency transfers to wallets associated with Iran’s Islamic Revolutionary Guard Corps and payments to crew members…

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Strategy (NASDAQ:MSTR) has become the most heavily shorted U.S. stock at 14% of market cap, but analysts say much of the positioning reflects basis trades rather than bearish bets.

The Short Interest Surge

Short bets on Strategy equal 14% of its $34 billion market cap at the time of the FactSet and Goldman Sachs report, making it the most shorted stock tracked among companies over $25 billion. Coinbase (NASDAQ:COIN) ranked fourth at 11%.

The positioning coincides with roughly $7 billion in unrealized losses on Strategy’s Bitcoin (CRYPTO: BTC) holdings.

The company holds 717,722 BTC worth $47 billion, purchased at an average price of $76,020 per coin.

The Basis Trade Explanation

Analysts say…

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