Metaplanet CEO Denies Claims: BTC ETF Outflows

Metaplanet CEO Simon Gerovich denied claims that the company misled investors regarding its Bitcoin purchases, options strategies, and borrowings; he argued that all transactions were disclosed on time and that critics misread the financial statements.

Record Outflows in US Spot Bitcoin ETFs

US spot Bitcoin ETFs experienced outflows of $165.8 million on Thursday, with weekly losses reaching $403.9 million, indicating a cumulative loss of $2.7 billion since the beginning of the year. These outflows, as detailed on our BTC detailed analysis pages, are increasing market pressure.

Progress in White House Clarity Act Meetings

The White House held the third meeting with crypto and banking representatives for the Clarity Act, the crypto market structure bill stalled due to stablecoin reward provisions; Coinbase and Ripple executives stated that progress was made. This development strengthens expectations for regulatory clarity.

New Developments in Institutional Bitcoin Holders

Michael Saylor’s MicroStrategy strategy relies on common shares for Bitcoin purchases while marketing preferred shares. Turkish company Net Holding (NTHOL.IS) ranked 74th among the largest institutional Bitcoin holders with its 352 BTC holdings. In contrast, Bitdeer reported zero Bitcoin holdings as of February 20; dropping from about 2,000 BTC at year-end to zero in eight weeks is noteworthy.

Bitcoin Technical Analysis and Market Performance

Bitcoin developer Matt Corallo emphasized that BTC’s drop from $126,100 to $67,162 was not due to quantum computer fears. Current BTC price $65,891.90 (-2.42%), RSI 33.81 (oversold signal), downtrend and bearish Supertrend. EMA 20: $70,238. Supports: S1 $64,337 (strong, 71% score), S2 $66,018. Resistances: R1 $69,412 (68% score). At market close, ETH $1,972, XRP $1.42; top performers STABLE +19.62%, MORPHO detailed analysis +13.05%, INJ +10.99%; worst performers H -27.34%, CHZ -19.60%, ARB -19.54. In other developments, Uniswap founder reacted to fake ads, South Korean authorities to Bithumb’s 620,000 BTC error. Follow BTC futures.