Wall Street Wall St Media Man

Australian Dollar: $0.7075 USD (up $0.0009 USD)
Iron Ore: $96.80 USD (down $0.05 USD)
Oil Price: $63.73 USD (up $0.84 USD)
Gold Price: $4,993.72 USD (down $48.08 USD)
Copper Price): $5.7625 USD (down $0.0255 USD)
Dow Jones: 49,500.93 (unchanged - closed: public holiday)

Markets, Cryptos and Culture

February 11, 2026

Sydney, Australia to Wall Street, New York

Disrupted Markets
Mining For Intel
Google It!

ASX futures up 22 points/0.3%: 8841
AUD -0.3% at US70.69¢
Bitcoin $69,194.88 -2.45%
Dow +0.1% S&P -0.1%
Nasdaq -0.3%
Gold -0.9% to $US5013.72 an ounce
Silver 81,248 -2.215 - 2.63%
Oil -0.3% at $US68.86 a barrel
Iron ore +0.5% at $US100.40 a ton

10-year yield:
US 4.15%
Australia 4.82%

News

Numbers Double Check

Australian Dollar: $0.7080 USD (down $0.0014 USD) Iron Ore (SGX): $100.40 USD (up $0.60 USD) Oil Price: $64.04 USD (down $0.19 USD) Gold Price: $5,027.96 USD (down $49.69 USD) Copper Price (CME): $5.9155 USD (down $0.0525 USD) Bitcoin: $68,724.60 USD approx (down 2.54%) Dow Jones: 50,236.44 (up 100.57 points)

News

CSL drags ASX lower in late market sell-off

The Australian sharemarket fell slightly on Tuesday, with the S&P/ASX 200 easing 0.03 per cent to close at 8,867.4 points. The bourse was on track to close in positive territory before CSL announced the retirement of CEO Paul McKenzie near the end of the trading session; CSL's shares fell five per cent to $171.39 and weighed on the broader sharemarket. Amplitude Energy was down 22.1 per cent at $2.50 and G8 Education shed 20.6 per cent to finish at $0.50. However, Deep Yellow rose seven per cent to $2.55 and NextDC was up 3.4 per cent at $13.78. (RMS)

News

Macquarie's plan to grab more market share in deposits

Data from the Australian Prudential Regulation Authority shows that Macquarie Bank's household deposits topped $100bn for the first time in December. Macquarie's deposits grew by 3.6 per cent in December, outperforming all other banks. Head of personal banking Ben Perham says Macquarie aims to increase its market share with regard to term deposits, which is curently one per cent; in contrast, its share of transaction and savings accounts is now seven per cent. Meanwhile, its home loan market share has risen to 6.8 per cent, and Perham says it is approving mortgage loans "considerably faster" than other lenders. (RMS)

News

ASX chief Lofthouse to exit ahead of latest CHESS fix attempt

Stock exchange operator ASX Limited has advised that CEO Helen Lofthouse will step down in May, after four years in the role. ASX chairman David Clarke says Lofthouse had taken on the role at an "exceptionally challenging time" for the company, with predecessor Dominic Stevens having stepped down in the wake of a failed project to replace its CHESS system. Her departure will coincide with the imminent launch of the first phase of an upgrade to the ageing platform. The ASX has hired recruitment firm Korn Ferry to find a successor to Lofthouse. (RMS)

News

Cryptos

Sam Bankman-Fried asks for a new trial

FTX co-founder Sam Bankman-Fried filed a long-shot request for a new trial on the charges for which he’s currently serving a 25-year prison sentence, arguing that new witnesses can refute the prosecution’s case that he defrauded the cryptocurrency exchange’s customers. The motion, dated February 5 but docketed on Tuesday in Manhattan federal court, was filed pro se, meaning Bankman-Fried, 33, is representing himself. The filing is separate from a formal appeal of his 2023 conviction. It was sent to the court clerk by Bankman-Fried’s mother, retired Stanford Law Professor Barbara Fried. A three-judge appeals panel is currently considering his appeal, which claims that rulings by the trial judge tainted the verdict. The judges appeared sceptical of his lawyer’s arguments at a November hearing.Alexandra Shapiro, Bankman-Fried’s appellate lawyer, declined to comment on his request for a new trial. Fried said her son’s brief has “been in the works” for a long time. “He wanted to write it in his own voice,” she said. A jury found Bankman-Fried guilty of seven criminal counts including fraud and conspiracy, agreeing with prosecutors that he illegally transferred billions of dollars from FTX customer accounts to an affiliated hedge fund, Alameda Research. Risky investments by Alameda contributed to FTX’s collapse amid a broader crypto downturn in 2022. The trial marked a stunning downfall for a figure who had once been the public face of cryptocurrency, with a fortune estimated at $US26 billion. (A.I News)

News

Alphabet aka Google

Alphabet sells more than $45b in bonds

Alphabet raised almost $US32 billion ($45.2 billion) in debt in less than 24 hours, showing the enormous funding needs of tech giants competing to build out their artificial intelligence capabilities — and the huge appetite from credit markets to fund them. The Google parent sold sterling and Swiss franc-denominated offerings, both of which were the biggest-ever corporate bond sales in their respective markets. Those deals followed Monday’s $US20 billion dollar debt sale. The sterling issue included an ultra-rare 100-year note — the first sale with such an extreme maturity by a technology firm since the dot-com era, according to data compiled by Bloomberg. Demand was high across the deals, at a record overall for the sterling with the 100-year bond drawing close to 10 times orders for the £1 billion ($2 billion) for sale. That bond priced at just 1.2 percentage points above 10-year UK government bonds, while the shortest tranche — a three-year note — priced at 45 basis points over gilts. Such a wide range of maturities in different markets meant there was something for all kind of investors — from asset managers and hedge funds to the pension funds and insurers that favour longer-dated debt. The deal hit the market less than a week after Alphabet said its capital expenditures will reach as much as $US185 billion this year — double what it spent last year — to finance its AI ambitions. Software giant Oracle also recently raised $US25 billion to fund its AI plans, drawing $US129 billion of demand. (BB/Ai News)

News

Cryptos

Ethereum stares into the abyss

Market Overview

The crypto market cap fell by 1.7% to $2.35T, returning to the lower end of the range of the last three days.

Cryptocurrencies remain under pressure with local resistance just above $2.40T, contrasting with the upward movement of stock indices. This divergence can be easily explained by the shift in leadership to the classic broad market economy instead of tech stocks, with which cryptocurrencies have a high correlation.

Bitcoin is losing over 2.2%, trading just below $69K. Intraday dynamics indicate a loss of recovery momentum. A possible failure below $68K will signal the end of consolidation after the rebound. Technically, this will open the way to local lows of $60-63K. At the same time, we still assume that the main scenario will be a prolonged consolidation in the $55-65K range, as this is an area of multiple extremes.

Ethereum is performing slightly worse than the market, losing about 3% and trying to hold on to levels above $2000. Over the past three weeks, the price has fallen below the 50- and 200-week moving averages, indicating a serious bearish sentiment. Last week, the second-largest cryptocurrency by market capitalisation touched the long-term support line of the last four years. A break below this line near $1,600 could trigger a dramatic capitulation of long-term buyers. News Background

According to Google Trends, global user interest in cryptocurrencies has fallen to annual lows. Santiment describes the crowd sentiment as “fiercely bearish.”

The Sharpe ratio for Bitcoin fell to minus 10, to its lowest since March 2023, indicating the final stage of a bear market, according to CryptoQuant. Similar values were recorded at the bottom of the cycles at the end of 2018 and 2022. However, the final phase could last for several months.

Bitwise calls the recent drop in Bitcoin a chance for new investors to buy more coins.

The current drawdown is the weakest in the history of the bear market and reflects only a crisis of confidence among market participants, rather than fundamental problems with the asset, Bernstein notes. Analysts have confirmed their long-term forecast for Bitcoin, with a target price of $150K by the end of 2026.

According to Jefferies, Tether's gold reserves reached 148 tons, with an estimated value of $23 billion. The issuer of the USDT stablecoin entered the top 30 largest gold owners in the world, purchasing 26 tons of the precious metal in the fourth quarter and adding another 6 tons in January. (FxPro)

News

The dollar is losing fans

China is getting rid of US Treasury bonds

The president is actively promoting Kevin Warsh

While the IMF is urging investors not to focus on the dollar's short-term weakness, EURUSD is posting its best daily gain since the end of January. According to the International Monetary Fund, the greenback will retain its power on the Forex market thanks to the size of the US economy, entrepreneurial spirit, and the depth and liquidity of the US capital market. However, confidence in the latter has been seriously shaken, which makes the outlook for the USD index bleak.

The threat to the independence of the Federal Reserve has not gone away. Donald Trump is so keen to promote his own candidate for the position of Fed chair that he is making some surprising statements. According to the president, Kevin Warsh will help boost the US economy by 15%. Over the past five decades, US GDP has grown by an average of 2.8% per year. A 15% growth rate has been extremely rare since the 1950s. The last time it happened was during the pandemic recovery, so he probably just means cumulative growth over several years. Meanwhile, the strength of the US economy is no guarantee of a stronger dollar. The White House intends to accelerate GDP growth through aggressive rate cuts, which will undoubtedly weaken the US currency. At the same time, uncertainty surrounding Donald Trump's policies is prompting some countries to divest from Treasury bonds. Beijing's recommendation to Chinese banks not to buy these securities has catalysed a rally in Treasury yields and the EURUSD.

Even the extremely vulnerable Pound Sterling took advantage of the dollar's weakness. The Bank of England could ease monetary policy as early as March, and a political scandal has erupted in Britain. As a result, Prime Minister Keir Starmer's position has once again become unstable. EURGBP has soared amid this political uncertainty. However, GBPUSD bulls are going on the offensive thanks to shaken confidence in the dollar. Unlike the Pound, Gold has been unable to capitalise on the fall in the USD index. This is an alarming sign for the precious metal.

This is especially true given that so-called smart money is currently on the side of the bears. Hedge funds and asset managers have reduced their net long Gold positions to their lowest since October. (FxPro)

News

Bitcoin has encountered new resistance

Market Overview

The crypto market cap has declined by approximately 10% over the past seven days to $2.36 trillion. Ironically, this appears to be positive news, as it represents a 10% increase from Friday's lows. However, we remain very sceptical about the near future, as the recovery momentum lost steam over the weekend, encountering a sell-off near the $2.4T level. Perhaps we have only seen a bounce on the way down, which is not yet complete.

The sentiment index plunged to 6 over the weekend, repeating the lows of June 18-19 from 2022, and we have only seen this indicator lower on August 22, 2019. By Monday, this indicator had recovered to 14, following the quotes. These are still too low levels for confident purchases.

Bitcoin grew steadily on Friday after crashing at the very beginning of the day, but since Saturday, it has faced resistance near $71K. There is still a huge supply in the markets from those who want to exit the first cryptocurrency on the rebound. In such conditions, it is worth being prepared for a new test of the 200-week moving average soon. News Background

The fall in Bitcoin prices was accompanied by a reduction in liquidity, a surge in volatility, a decline in risk appetite, and an increase in correlation with stock indices. CryptoQuant admits that BTC could fall to $54,600, where the market could move from a phase of capitulation to a phase of accumulation.

Against the backdrop of the crypto market decline, Strategy's net loss for the fourth quarter was $12.6 billion, according to the company's quarterly report, and its operating loss reached $17.4 billion. Strategy CEO Fong Le assured investors that risks to the company's debt servicing would only arise in the event of an extreme drop in BTC to $8,000.

Cardano founder Charles Hoskinson reported unrealised losses of more than $3 billion. He stressed that he does not intend to liquidate positions, even if the market situation worsens.

Bitcoin miners are massively shutting down their equipment due to mounting losses. The BTC mining profitability indicator has fallen to record lows amid a decline in the crypto market and rising electricity prices. JPMorgan estimates the cost of mining to be around $87K.

As a result of the latest recalculation, the difficulty of mining Bitcoin has plummeted by 11.16% to 125.86 T. This is the most significant drop since 2021, when the Chinese authorities banned cryptocurrency mining.

Despite the current negativity, JPMorgan is optimistic about BTC and predicts that in the long term, the first cryptocurrency could reach $266K. Earlier, the bank raised its long-term forecast for gold to $8,000–8,500. (FxPro)

News

48 Hours Ago

The yen played out the ‘buy the rumour, sell the fact’

The LDP's landslide victory in Japan led to a pullback in USDJPY.

China has been buying gold for 15 months in a row, supporting the price.

Improved global risk appetite undermined the US dollar. The S&P 500 recorded its best daily rally since May amid easing fears about the negative impact of artificial intelligence on technology and other companies' shares. Bitcoin managed to bottom out and followed the rally in US stock indices. Gold returned above $5,000 per ounce, while demand for the greenback as a safe-haven asset declined.

Traders are taking profits on long positions in the USD index after the best week for the US dollar since early January, as important reports approach. Releases of data on employment, inflation and retail sales will clarify the situation with the US economy and allow conclusions to be drawn about the Fed's monetary policy. The futures market sees a 70% probability of a rate cut in June and a 33% chance for April. Growing confidence in a rate cut, if not undermined by US statistics, will inspire the EURUSD bulls. USDJPY quotes rose in anticipation of the vote outcome in the lower house. However, when the market opened, investors preferred to take profits, which strengthened the yen by almost 1%.

The Liberal Democratic Party won a record 316 seats in the lower house of Parliament. Together with its coalition partner, the Japan Innovation Party, it holds 354 of the 465 seats, allowing the LDP to pursue its policies without the approval of other parties. Takaichi contributed to the Nikkei 225's rise to a historic high. Gold returned above $5,000 per ounce thanks to support from central banks. The People's Bank of China reported its 15th consecutive month of gold bar purchases. Its precious metal reserves grew by 40,000 ounces in January. The series began in November 2024 and has continued without interruption since then, despite price fluctuations.

The process of gold acquisition by central banks slowed down in 2025 to 860 tonnes after 1,000 tonnes over the previous three years. Nevertheless, regulators' activity in the precious metals market remains high, which supports the gold price. (FxPro)

News

Culture

'Welcome To The Blockchain' aka

The Bitcoin Song

Intro

We're now standing on the precipice of a global revolution
Of economics, of politics, and government
Welcome to the blockchain

verse

Power corrupts, money is power
The power to control the money is one that is now
In the hands of those who pretend we can't function without them
So how can we do something about it? (Huh?)
Working hard to get a raise, lifting that wage up
Inflation takes it like a hidden taxation
Manipulated interest rates to give the banks
A way to create money with the loans that they're giving out daily (yup)
That means our money is debt
That we gotta pay back more than a hundred percent
No wonder then why the middle class is going under
When the one's above them gotta cover and come to collect
And many have no access to banking
Making payments, or saving, so more fees are taken
And every day the gatekeepers are trying to stop change
We can not wait, welcome to the blockchain

chorus

Welcome to the blockchain
Things are about to change
Open up the gates
Systems get replaced
Bitcoin
Decentralize the trust
Security, transparency
The network's run by us
Bitcoin

verse

Bitcoin is a decentralized ledger
And the currency is its first enterprise ever
Secured by the worldwide incentivized network
Can't be stolen or controlled by any sized effort
You can send it anywhere and instantly
No one can intervene, no third party in between
There's no counterfeiting
Algorithms control the outer limits of how many coins can get released
Programmable money, no government can seize it
Payments can be customized by sender and receiver
Contracts can be written cementing your agreements
With terms that can't be bent once you consent then it completes it
Autonomous businesses are possible
Where profit is distributed amongst those adopting it
Paradigm shift we must adjust to the ending
With the blockchain, bitcoin is just the beginning

chorus

Welcome to the blockchain
Things are about to change
Open up the gates
Systems get replaced
Bitcoin
Decentralize the trust
Security, transparency
The network's run by us
Bitcoin

bridge

Now that we got control
We're not gonna let it go
My people all around the globe
We gotta keep building, building, building
Now that we got control
We're not gonna let it go
My people all around the globe
We gotta keep building, building, building

chorus

Welcome to the blockchain
Things are about to change
Open up the gates
Systems get replaced
Bitcoin
Decentralize the trust
Security, transparency
The network's run by us
Bitcoin

Writer: Toby Ganger

News

Mining/Energy/Resources/Biz

Rio Tinto dodges merger bullet

Rio Tinto has dodged two 'bullets' due to Glencore's rejection of a merger proposal: a possible BHP takeover bid and a dangerous acquisition. BHP looked closely at whether to bid for Rio Tinto if the latter announced a merger with Glencore. The two companies would make excellent merger partners; amongst others things, their staff and senior people have similar cultures, they are co-operating on future Australian iron ore projects and they are copper joint venture partners in Chile and the US. Meanwhile, there are significance cultural differences between Rio Tinto and Glencore; there is little doubt that Rio Tinto's CEO Simon Trott would have had doubts about a merger once he understood these cultural differences. (RMS)

News/Snapshot

Australian Mining

Global Commodity Rankings

Australia holds some of the world's largest reserves and is a leading producer of several key minerals.

#1 Producer: Iron Ore, Bauxite, Lithium, Rutile, and Zircon.

#1 Reserves: Iron Ore, Gold, Lead, Nickel, Rutile, Uranium, and Zinc.

#2 Producer: Gold, Alumina, and Manganese.

Key Mining Hubs & Major Projects

Western Australia: The nation's "engine room," producing 98% of Australia's iron ore and 60% of its gold. Major sites include the Pilbara (iron ore) and the Super Pit in Kalgoorlie (gold).

Queensland: A global leader in metallurgical coal (Bowen Basin) and silver/lead production (Cannington mine).

South Australia: Home to Olympic Dam, which contains the world's largest single uranium deposit and significant copper and gold reserves.

Major Players

The sector is dominated by several multinational giants and significant domestic players:

BHP: Often ranked as Australia's most valuable company; major interests in iron ore, copper, and coal.

Rio Tinto: A world leader in iron ore (Pilbara) and aluminum.

Fortescue (FMG): Primarily focused on iron ore and rapidly expanding into green energy.

Hancock Prospecting: Australia's largest private mining company, led by Gina Rinehart, the nation's wealthiest person.

South32: Spun out of BHP; manages a diversified portfolio including manganese, silver, and nickel.

2026 Trends & Developments

Critical Minerals Push: The government has introduced a $23 billion package to support domestic processing and manufacturing of critical minerals to reduce global reliance on single-country supply chains.

Uranium Rally: Prices exceeding US$100/lb have sparked renewed interest in Australian prospects like the Kalkaroo project.

M&A Activity: Major merger talks continue between giants like Rio Tinto and Glencore as they seek to consolidate copper exposure for the EV market.

Workforce Challenges: The Minerals Council of Australia is currently calling for migration reforms to address a significant "skills crunch" in the sector.

News

Best Quotes Of The Day

Media Man

Cryptocurrency, Finance and World

"Volatility is Satoshi’s gift to the faithful." - Michael Saylor

"Bitcoin is a tool for freeing humanity from oligarchs and tyrants, dressed up as a get-rich-quick scheme." — Naval Ravikant

"We have elected to put our money and faith in a mathematical framework that is free of politics and human error." — Tyler Winklevoss

"You can't stop things like Bitcoin. It will be everywhere, and the world will have to readjust. World governments will have to readjust." — John McAfee

"Bitcoin is the most important invention in the history of the world since the Internet." — Roger Ver

"Cryptocurrency is such a powerful concept that it can almost overturn governments." — Charles Lee

"In the future, national currencies will become obsolete. Bitcoin will become the single global currency." — Jack Dorsey

"The future of finance is crypto, whether it’s in payments, contracts, or savings." — Changpeng Zhao

"Crypto offers freedom to the unbanked and hope to the underprivileged." — Elizabeth Stark

"The new frontier of innovation is in decentralization. Blockchain leads the charge." — Don Tapscott

"Digital currency is here to stay, and it’s only a matter of how long before governments embrace it." — Brad Garlinghouse

Pop Culture

Dream Matches: Fantasy Booking

The Million Dollar Man vs IRS
Money INC vs Right To Censor
Santa vs Grinch
Bulls vs Bears
Crypto King vs Mr World Bank
Citizens vs NWO
Neo vs Agent Smith
John McAfee vs You Know Who!
TKO vs Naysayers
Jake Paul, Polymarket and BETR vs Naysayers
Pro Boxing vs Newspaper Reports
VKM vs The World
Paul Bros vs Mainstream Wokes
Mr X vs Mr Bluesky
Chris Jericho vs Dirtsheets
NFL vs everyone
Zuffa vs MVP
Netflix vs World
Meta vs Australia
White Light vs Dark Matter
Lexis King vs NIL's (WWE NXT)
Volk vs Naysayers (UFC: Sydney, Australia)
Brock Lesnar vs Everyone! (WWE Royal Rumble)
Roman Reigns vs CM Punk (WWE WrestleMania)
Green vs The Coal Miners Daughter
AC/DC vs Swifties
Triangle v World Bank
Sarah's Oil vs Big Oil
Mr X vs Mr VOX
Mr X vs Mr Platformer
Mr FOX vs Mr Vice
Fox And The Hound vs The View
The Masked Superstar vs Mr Jones
The Undertaker vs Mankind
UFC Legends vs Father Time
Vinnie Vegas and Oz vs Los Americanos
NXT GM vs The Don
Mr Moneymaker vs Mr Regulator
Mr Blockchain vs Mr EU
WWE Unreal vs The Old Guard
Reality TV vs John Pilger Type Journalism and Docos
Mr Real Deal vs Mr Grifter
Mr Truth vs Mr Shock Jock
Mr X vs Mr Bluesky: Rematch
WWE Wrestlers vs NFL Super Bowl Players
Logan Paul and Bad Bunny vs Jake Paul and The Don - Special ref: Damian Priest
Kelly Gang vs Snow White Clan
BKFC vs PFL vs ONE
Mr Sky vs Mr Vice
Marvel Universe vs DC Universe vs Monster Universe

Markets, Cryptos and Culture

Sydney, Australia to Wall Street, New York

February 7, 2026

Black Friday In The USA Sees Some Light Arrive; Crypto True Believers Rejoince And Regain Some Lost Ground

Australians See Yanks Regain Some Smiles

"All That Glitters"

Sorting Pure Gold From Fools Gold?!

Who Is Putting The Crypto And Market Strings?

Roller Coaster Ride Continues Into The Weekend ...

"All That Glitters" Edition: Part 6

"Gold" (Spandau Ballet)

"You Got the Silver" (The Rolling Stones)

"Goldfinger" (Shirley Bassey)

"Mercy, Mercy, Mercy" (The Wolf Of Wall Street theme) Cannonball Adderley

"Stretch Your Face" (TOBACCO). Silicon Valley theme

"Diamonds" (Rihanna)

"Falling Down" (1993). (James Newton Howard)

"Every 1's a Winner" (Hot Chocolate)

"Still Humble" (def rebel)

"Clubbed to Death". (The Matrix theme). Kurayamino Mix. (Rob D)

"Bulls on Parade" (Rage Against the Machine)

Markets

ASX 200 futures up 102 points/1.2% to 8749
AUD +1.4% to US70.21¢
BTC $71,212.23 +11.54%
Wall St:
Dow +2.5%
S&P +2%
NAS +2.2%
VIX -4.01 to 17.76
Gold +3.9% to $US4963.65 an ounce
Silver 77.978 +7.14 +10.08%
Oil +0.6% to $US67.93 a barrel
Iron ore -1.6% to $US99.00 a ton

News

Crypto: too early to be greedy

Market Overview

The crypto market cap has lost more than 8% in the last 24 hours to $2.22T, dropping to $2.09T at its lowest point. The Crypto fell below last April's lows and rolled back to levels last seen in September 2024. The market did not hold on to the strong line that had served as support and resistance for more than two years. Either this is a switch to panic mode, or we saw a short-term overreaction during a period of reduced liquidity, and cryptocurrencies will partially rebound in the coming days.

The sentiment index fell to 9, where it was last seen in June 2022. In general, reaching single-digit levels is a very rare occurrence. At the same time, we warn again that such oversold conditions may be followed by months of consolidation or bottoming out. Thus, in 2022, the market only bottomed out in November, falling by about a quarter, and the momentum for growth only appeared in January.

Bitcoin, at its lowest point at the start of trading on Friday, fell to $60K, ending up just one step away from its 200-week moving average, which is just below $58K. Bitcoin only fell below this line in 2022 and the following year, 2023. Before that, in 2015, 2019, and 2020, touching this line effectively stopped the sell-off, attracting buyers.

News Background

The collapse of the crypto market reflects a decline in interest in digital assets at the institutional and regulatory levels, according to Deutsche Bank. Three factors are putting pressure on Bitcoin: a steady outflow of institutional investor funds, changes in traditional Bitcoin market relationships, and the loss of regulatory momentum that previously supported liquidity and reduced volatility.

The collapse of Bitcoin was caused by the actions of large market participants, not panic among private investors, said technical analyst Peter Brandt. In his opinion, the nature of the movement, when BTC updated its lows for eight days in a row, has all the signs of a “planned sell-off.”

Tension was heightened by unconfirmed rumours of a $9 billion sale of bitcoins by a Galaxy Digital client.

Stifel admits that bitcoin could collapse to $38K due to the high correlation of cryptocurrencies with the falling US tech sector.

According to DeFiLlama, the net inflow of funds to Binance over the past 24 hours amounted to almost $700 million. The data refuted rumours circulating on social media about mass withdrawals and account closures after Binance reported technical problems with withdrawals on February 3rd.

According to Bloomberg, there is still disagreement in the US over the Clarity Act. The current version of the document prohibits the accrual of interest for staking. Crypto companies are making new concessions to US banks, but the parties have not yet reached an agreement. (FxPro)

News

Gold News

Gold tries to prove that the bull trend is not yet broken After the most significant sell-off since 1980, gold is attempting to stabilise. Bears argue that the bubble has burst and events will unfold as they did in 2011. Back then, after falling from record highs, the precious metal entered a multi-year downtrend. Bank of America notes that volatility remains elevated. This allows us to talk about gold as a speculative asset and reduces central banks' demand for bullion. This is especially true given some recovery of confidence in the US dollar.

Bulls argue that the fundamentals of the gold market remain intact. US government debt is growing rapidly, which devalues Treasuries and the greenback. Political and geopolitical risks remain high. The Fed will resume its cycle of policy easing. Also, precious metals do not seem expensive at these levels. The Dow Jones index exceeded its value by 1.3 times in 1980, and during the dot-com crisis, its ratio soared above 40. Currently, it is just over 10.

Events at the end of last week unfolded too quickly. By the close of last week, the collapse had reached historic proportions, leaving scars on the market at the start of February. Formally, we see the week closing in positive territory and an impressive rebound of $550 from Monday's lows. It is also worth mentioning that the price reached these levels for the first time just two weeks ago. Nevertheless, we remain in the bear camp, assuming that the three-year bull market has already been broken. We may see attempts to grow and even break through $5000, but we expect that too many will sell gold at these levels/ (FxPro)

News

UK/Europe News

The Bank of England sank the pound

Markets now pricing the BoE will cut its rate in March.

Neither slowing inflation nor the strength of the euro scared the ECB.

While the ECB decided to support its currency, the Bank of England deliberately sank the pound. Both regulators left rates unchanged, but this is a dovish pause. Four out of nine MPC members voted to cut the repo rate from 3.75% to 3.5%, while markets had expected only two.

Andrew Bailey noted that there is an even chance of the next rate cut next month, as inflation is sure to fall significantly. As a result, the futures market raised the probability of such an outcome from 20% to 60%, pressuring GBPUSD.

The ECB showed much more mercy to the euro. On the eve of the Governing Council meeting, investors were concerned that the slowdown in inflation in the eurozone to 1.7% in January and the 13% strengthening of the euro against the USD over the past year would provoke ‘dovish’ rhetoric from Christine Lagarde.

But eventually, she noted that the ECB would not make decisions based on a single data point and that the strengthening of the euro was already factored into its forecasts. EURUSD bulls breathed a sigh of relief. They were helped by disappointing data on the US economy. In 2025, it created 1 million fewer jobs than in 2024.

According to Challenger, layoffs are occurring at the fastest pace since the global economic crisis of 2008-2009. ADP is signalling a slowdown in employment, and unemployment claims are exceeding forecasts. The Fed has already cut rates three times pre-emptively in response to signs of a cooling jobs market. If the negative trends continue, the monetary easing will resume earlier than expected. After a series of disappointing reports, derivatives have raised the odds of an April rate cut to 40%. If the BLS employment statistics bring an unpleasant surprise, they could rise to 50%, which is bearish for the US dollar.

It is hard to say how the greenback will react to the armed conflict in the Middle East. The erosion of confidence in it due to Donald Trump's policies has led to the loss of its status as the main safe-haven asset. Gold has taken its place. However, the January-February sell-off of the precious metal and rumours of a burst bubble could change everything. Will the US dollar regain its former glory? (FxPro)

News

The Lead Up

24 Hours Ago

ASX snaps two-day winning run as silver tumbles

The Australian sharemarket snapped a two-day winning streak on Thursday, with the S&P/ASX 200 closing down 38.60 points to 8889.20, while the price of silver tumbled by 15 per cent. Silver miner South32 declined 4 per cent to $4.60, while BHP fell 3.9 per cent to $50.36. Gold miner Genesis Materials declined by six per cent to $6.87 and uranium miner Paladin Energy slumped nine per cent to $12.36, while stocks to rise included the Commonwealth Bank, which rose 1.4 per cent to $159.28, and Regal Partners, up 5.1 per cent to $3.07. (RMS)

News Lead Up

ASX rises as miners rally; Yancoal soars 9pc

The Australian sharemarket posted a strong gain on Wednesday, with the S&P/ASX 200 adding 0.8 per cent to close at 8,927.8 points. BHP rose 4.5 per cent to $52.40, Northern Star Resources was up 6.2 per cent at $28.55 and Woodside Energy advanced 3.1 per cent to $25.84. However, Origin Energy was down 3.6 per cent at $11.12 and Synlait Milk shed 13.5 per cent to end the session at $0.45.

News Lead Up

24 Hours + Ago

Miners

Glencore soothes Rio concerns with US deal

Glencore has secured a preliminary, non-binding agreement to sell a 40 per cent stake in its Mutanda and Kamoto copper mines in the Democratic Republic of Congo. The deal was struck just days before the expiry of a deadline for Rio Tinto and Glencore to finalise their proposed merger or extend the negotiations. The consortium that will buy a minority stake in the two copper mines is headed by Orion Resource Partners, in which the US government has a stake. Rio Tinto has concerns about the two mines' links to Israeli businessman Dan Gertler, who was sanctioned by the US government in late 2017.

News

NYSE

The New York Stock Exchange (NYSE) saw mixed performance during the latest trading session on February 4, 2026. While the Dow Jones Industrial Average gained 0.52% to close at 49,501.30, the broader NYSE Composite Index edged up just 0.41% to finish at 22,975.59. In contrast, tech-heavy indices like the Nasdaq and S&P 500 faced pressure, sliding 1.5% and 0.5% respectively as investors rotated out of major software and semiconductor names.

Recent Market Trends (February 2026)

Rotation out of Tech: Investors are increasingly moving capital from high-valuation AI and software companies into "real economy" Dow components.

Active IPO Market: Veradermics Inc (MANE) made a massive debut on the NYSE on February 5, 2026, with shares soaring 118% from their $17.00 IPO price.

Semiconductor Consolidation: Texas Instruments announced the acquisition of Silicon Laboratories for $7.5 billion, causing SLAB shares to surge nearly 50%.

Healthcare Volatility: Eli Lilly shares jumped 10% after strong Q4 results, helping the company reclaim a $1 trillion market cap, even as other healthcare firms like Novo Nordisk slumped on cautious outlooks.

Market Outlook and Valuations

As of early February 2026, major Wall Street analysts remain generally optimistic for the year, projecting total returns for the S&P 500 of approximately 6% to 11% by year-end.

Current valuations suggest that the U.S. equity market is trading at roughly a 5% discount to fair value estimates, with small-cap and late-cycle technology stocks identified as especially attractive. However, experts warn that elevated volatility is likely to persist due to shifting government policies and potential risks in the AI sector.

News Lead Up

24 Hours Ago +

Crypto market updates local lows

Market Overview

The crypto market cap fell 2.2% to $2.59 trillion, briefly touching $2.49 trillion, and is continuing its descent to last April's lows. Solana was hit particularly hard by the sell-off among the top coins, losing 6.8% compared to 2.9% for Bitcoin and 1.6% for Ethereum. Tron outperformed the market, gaining 1% on the day and losing only 2.3% over 7 days and 2.8% over 30 days, compared to a 14.5% and 18.1% decline in total cap, respectively.

Bitcoin broke through its 2025 lows on Tuesday and briefly fell below $73,000, back to its early November 2024 lows. Although there has been some rebound since the start of Wednesday, the sequence of lower local highs and lows indicates that selling on the rise prevails in the markets. Bulls, for their part, may point to oversold conditions on the RSI and divergence, where a lower local price low corresponds to a higher local low on the relative strength index. There were two such instances in 2024 and 2025, followed by gains of more than 20% and 60%, respectively. However, during the 2020 bear market, such signals did not work. News Background

Demand in the BTC spot market is drying up, with additional pressure from stablecoin outflows from trading platforms. Uncertainty surrounding the Fed's policy and the possible appointment of Kevin Warsh threaten to strengthen the dollar. This has a negative impact on risky assets, according to Arctic Digital.

There are no catalysts for growth in the crypto market, and selling pressure remains. In such conditions, Bitcoin risks falling to $56,000-58,000, according to Galaxy Digital.

The current crypto winter is closer to its end than its beginning, according to Bitwise. The crypto market is nearing the end of its decline phase, according to Compass Point. The base scenario assumes that BTC will bottom out in the $60,000-68,000 range.

According to a JPMorgan survey, asset managers from 30 countries around the world are betting on artificial intelligence, leaving cryptocurrencies out of the picture. Only 17% of respondents consider digital assets to be a key topic.

The German division of ING Bank has opened access to exchange-traded notes (ETNs) focused on cryptocurrencies to retail clients. The instruments allow investors to invest in Bitcoin, Ethereum and Solana through the familiar banking interface. (FxPro)

News

Gold

Gold inflates a new bubble

The US dollar may suffer because of Kevin Warsh

Gold volatility remains elevated

The drop of US stock indices amid new developments in artificial intelligence has caused the US dollar to retreat. Software stocks have been hit hardest by Anthropic's innovations. The US market no longer looks as exceptional as it once did, with investors tending to diversify their portfolios and sell off American stocks. Coupled with a reassessment of Kevin Warsh's views as Fed chairman, this brings back interest in buying EURUSD. The futures market gives a 59% probability of a federal funds rate cut in June and expects two acts of monetary expansion before the end of the year. MUFG Bank notes that Kevin Warsh is respected by the markets. Donald Trump's choice in his favour has eased concerns about the Fed losing its independence and boosted confidence in the US dollar. However, the former FOMC official intends to cut rates. Rumours are growing on Forex that they will fall by 100-125 basis points. The Fed is not a one-man show. It will require a change in the economic outlook of the majority of the Open Market Committee, and this process is already underway. According to Richmond Fed President Thomas Barkin, companies are not raising prices due to customer resistance. They are absorbing the tariffs. This is good news for inflation. The US economy is growing thanks to the artificial intelligence ecosystem and serving wealthy customers. The retreat of the US dollar has strengthened investors' desire to buy gold after the slump. Political and geopolitical tensions remain high, fuelling interest in gold as a safe-haven asset. In percentage terms, the precious metal recorded its largest daily gain since March 2009. At that time, investors were actively buying it due to the global economic crisis. However, Bank of America warns that there was no decline in volatility after gold collapsed on Black Friday, 30 January. The indicator continues to remain at high levels, increasing the risks of a new bubble forming. As the parliamentary elections approach, hedge funds are increasing their sales of the yen. If the Liberal Democratic Party strengthens its position in the lower house, interest in ‘Takaichi trade’ will return, inspiring USDJPY bulls. (FxPro)

News

The Lead Up

24 + Hours Ago ...

Cryptos

Very limited rebound in crypto

Market Overview

The crypto market capitalisation grew by 1.7% in 24 hours to $2.65 trillion. Once again, the positive sentiment in global financial markets came to the rescue of crypto. BNB is leading the rebound, benefiting from the support of the founder of Binance and Doge, which was mentioned again by Musk. At the same time, local resistance has formed in the market at $2.65-2.68 trillion, where the rebound has been losing momentum since the beginning of the month.

Bitcoin is trading above $78K, about 5% higher than Monday's lows, but hitting resistance from 1 February. This limited rebound is causing bearish sentiment about the immediate prospects for Bitcoin and the whole crypto market. News Background

According to CoinShares, global investment in crypto funds fell by $1.696 billion last week, following an outflow of $1.732 billion the week before. Investments in Bitcoin fell by $1.321 billion, in Ethereum by $308 million, in XRP by $44 million, in Solana by $32 million, and in multi-asset funds by $14 million.

The options market indicates that investors are beginning to form positions in anticipation of a local bottom. Long-term Bitcoin investors have moved into unrealised losses, which allows the market to transition into an ‘extremely bearish’ phase, according to CryptoQuant. The market has also been negatively affected by a persistent lack of liquidity for several months.

Bernstein expects the crypto market decline to end when Bitcoin reaches the highs of the previous cycle in the $60,000 range. The subsequent reversal will lay the foundation for the ‘most significant cycle’ for BTC.

Meanwhile, Bloomberg Intelligence strategist Mike McGlone reiterated his forecast for the current year, according to which Bitcoin could fall to $10,000. In his opinion, the current year may resemble the crisis years of 2008 and 2000-2001.

Corporate Ethereum holders suffered a major loss after the asset's value fell. According to BitMineTracker, the ‘paper’ losses of BitMine, the largest holder of the second-largest cryptocurrency, amounted to $6.95 billion. Investor Ross Gerber called this ETH purchase potentially ‘the worst deal in history.’

Hong Kong-based Trend Research has already begun to reduce its positions, selling 33,589 ETH ($79 million) at a loss. Japanese financial holding company Nomura is also reducing its investments in cryptocurrencies. However, Strategy continues to buy, acquiring another 855 BTC ($75.3 million) over the past week at an average price of $87,974. (FxPro)