February 16, 2025
BTC Holds Above $97K
Bitcoin briefly dropped below $95,000 on February 12th after the U.S. CPI data revealed higher-than-expected inflation, but quickly rebounded to $98,000. It is currently priced around $97,600, reflecting a 1% daily increase.
Mantra (OM) surged by 35%, hitting a new all-time high of $7.90, while Ripple’s XRP rose 8% to reach $2.82. XRP’s rally was likely sparked by the SEC’s approval of 21Shares’ XRP Trust ETF application. Other altcoins like Chainlink (LINK), Dogecoin (DOGE), and Shiba Inu (SHIB) also saw gains, while Ethereum (ETH), Binance Coin (BNB), and Solana (SOL) experienced slight losses.
The total crypto market cap is approximately $3.24 trillion, up by 0.3% on the day.
Other Markets
DeepSeek has sparked a $1.3 trillion rally in Chinese stocks as investors flood the market, though corporate America’s dimming profit outlook clouds the equity surge. Meanwhile, rising U.K. inflation is expected to keep the Bank of England cautious on rate cuts, while experts warn of increasing distress in junk bonds as banks tighten lending.
Elsewhere, Argentina’s President Milei promoted a new crypto token before deleting the post due to scam concerns, and Dangote Group’s CEO Aliko Dangote announced a $400 million expansion of an Ethiopian cement plant. Iraq is working to resume oil flows to Turkey after a $19 billion loss.
In other news, Netflix puzzle provider Keesing is up for sale, and Trump’s Truth Social has been cleared for a public listing. As the House passes a funding bill ahead of a shutdown deadline, fintech firms are eager to engage with Washington.
