RAY abnormal, down 22.4% in 24H

JUST IN: Bitcoin 'Fear & Greed Index' falls to 25, extreme fear.

Odaily Planet Daily News: Bybit co-founder and CEO Ben Zhou posted on X platform "calling out" to eXch executive Sarah Nugent, saying, "By freezing Lazarus' funds, you can earn 5%... which is much more than what you can earn by helping with money laundering... stand on the side of good people

Robert De Niro as Ace Rothstein to Joe Pesci's Nicky Santoro in Martin Scorsese's Casino.Bitcoiners could be forgiven for blaming the rest of crypto for the bear move that took the price of BTC down more than 20% from a record high above $109,000 just five weeks ago to as low as $87,000 earlier on Tuesday.See all newslettersBitcoin touched that record a day ahead of the presidential inauguration amid a speculative frenzy in memecoins that hit its dénouement as the Trump team thought it a good idea to launch tokens associated with the incoming president and first lady. The tokens initially rocketed higher before quickly crashing and leaving just about everyone except insiders with massive losses.SOL, the native token of the Solana blockchain on which much of the memecoins were created, is down more than 50% since then, leading the plunge in the major cryptos since that January weekend.Bitcoin bulls were promised a Strategic Bitcoin Reserve and instead got TRUMP and MELANIA.Even with the evisceration in memecoins and associated carnage in the broader crypto market over the past weeks, bitcoin managed to mostly stay in a tight range not that far below its record. As recently as 96 hours ago, the world's largest crypto was on the rise and seemed set to retake the $100,000 level.Then the Bybit hack hit.While bitcoiners were quick to point out the exploit had noting to do with Bitcoin and instead once again demonstrated the inherent weaknesses in Ethereum's technology, the plunge in ETH (down 15% and counting since) and the rest of crypto spread to BTC."Our expectations for this cycle are much higher than $108,000, so we tell ourselves we couldn't possibly have peaked already," wrote self-described permabull StackHodler on X Tuesday. "We have to go higher in 2025, right," he continued. "The truth is, nobody knows for sure. We just went through the short term holder realized price of $92,000 ... We may need to revisit the 200 day moving average around $82,000.""DO NOT buy the dip yet, a move to the low $80s is on," wrote Standard Chartered's Geoff Kendrick, who previously has forecast $200,000 BTC by year-end. "Before buying the dip is attractive I think we get a $1B ETF outflow day (current worst ever day -$583M)."Though not getting hit nearly as hard as crypto, traditional markets have been stumbling as well. As measured by the S&P 500 Index, U.S. stocks last week had their worst week since the Trump inauguration. The tech-heavy Nasdaq peaked in December and today sits 5% below that level.Pick your excuse: Tariffs, DOGE (not the token, the Musk-led government cost-cutting regime), or just a cooling in previously very perky animal spirits, but rate markets have taken notice.The U.S. 10-year Treasury yield has pulled all the way back to 4.32% from 4.80% just ahead of Trump taking office. And expectations for easier monetary Federal Monetary policy have surged. The chances of a May rate cut have more than doubled to 30% over the past week and the chances of two rate cuts by June have more than tripled to 15%, according to CME FedWatch."Lower U.S. Treasury yields are a huge longer-term positive for BTC," concluded Kendrick.

According to BlockBeats, on February 25th, IntoTheBlock announced that the share of Bitcoin miners in total on chain transactions dropped to 2.4% last Sunday, the lowest level since May 2023.

Crypto investment firm Multicoin is leading an $8 million purchase of GEOD tokens, a major capital injection into the crypto project building a hyper-accurate alternative to GPS.Geodnet hails from crypto's buzzy DePIN wing of startups that financially incentivise regular people to host their physical infrastructure. The project's token (its incentive mechanism) has more than doubled in the past 12 months amid torrid demand for Geodnet's services.See all newslettersGPS satellites that tell your phone about how far you are from the next intersection are plenty good for a drive around town. Not so for Geodnet's user base of farming drones and industrial robots, said project lead Mike Horton. They need location data down "to the size of a golf ball."Nearly 14,000 base stations provide centimeter-level location data to Geodnet' clients, many of whom are oblivious to its crypto incentives: Anyone running a $700 base station earns new GEOD tokens, a model that shifts the normally astronomical cost of deploying equipment away from the company."Because of DePIN, we've been able to scale this thing crazy fast," said Horton. "We built in two years what the industry has been working on for 20 years, and we now have twice as many stations as anyone else."Multicoin's betting Geodnet's cheap, all-encompassing geospatial network will help facilitate the explosive growth of technologies that need accurate location data, particularly robots: self-driving vehicles, delivery drones, autonomous farming equipment."For these robots to function, they need to answer a fundamental question: ?, wrote Multicoin Investment Partner Shayon Sengupta in a position paper.Geodnet's existing customers are powering over $3 million in annual recurring revenue, said Horton. He's targeting 2025 growth in India and South America, particularly in the farming sector.The investors are calling the fundraise a "strategic" investment in which they bought GEOD tokens directly from Geodnet Foundation, the entity behind the network. Geodnet last raised capital in April 2024 from Coinfund, Pantera and VanEck."We're raising the money to really focus on robots and drones," Horton said.