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- Bitcoin Manipulated? Mow Weighs In | Crypto Alpha Week 8 of 2025
Bitcoin Manipulated? Mow Weighs In | Crypto Alpha Week 8 of 2025
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Bitcoin Manipulated? Mow Weighs In
Montana Advances Bitcoin Reserve Bill to House
Franklin Templeton Launches Bitcoin-Ether Index ETF
Vitalik Buterin Criticizes Crypto’s Gambling Shift
Grayscale Launches Pyth Trust on Solana
Coinbase Unveils CFTC-Regulated Solana Futures in the US
ShadeX Introduces Encrypted Crypto Lending
Saga Introduces Vault 2.0 for Liquidity Rewards
Halliday Launches Trustless Automation for Avalanche
Gaming Giants Launch WARP on Avalanche
Nigeria Slaps Binance with $81B Tax Fine
Bybit Suffers Record $1.5B Hack
And much more!
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Bitcoin Highlights of the Week
Bitcoin’s price remains range-bound between $92,400 and $106,500 despite significant institutional inflows, raising concerns about market manipulation. Samson Mow, CEO of Jan3, suggests the price action appears “manufactured,” pointing to consistent sideways movement even as institutions and retail investors accumulate BTC.
He highlights ongoing selling pressure, potentially linked to FTX’s creditor repayments at 2022 price levels, which could be preventing an upward breakout. While Bitcoin remains stagnant, analysts remain optimistic, with 2025 price projections ranging from $160,000 to $180,000, anticipating a potential rally once selling pressure eases and market fundamentals take full effect.
Montana’s House Business and Labor Committee has approved House Bill No. 429, allowing Bitcoin and other digital assets to become reserve assets. Passed in a 12-8 vote, with Republican support, the bill would establish a special revenue account for investing in precious metals, stablecoins, and digital assets with a $750 billion market cap—currently, only Bitcoin qualifies.
If enacted, Montana’s state treasurer could allocate up to $50 million by July 15. Montana joins Utah, Arizona, and Oklahoma in advancing similar legislation, while federal efforts continue through Senator Cynthia Lummis' Bitcoin reserve bill proposal.
A new theory by Seán Murray suggests Jack Dorsey could be Bitcoin’s creator, Satoshi Nakamoto. Murray points to several coincidences, such as Bitcoin’s first transaction occurring on Dorsey’s mother’s birthday and Satoshi’s last mined block aligning with his father’s birthday. Other clues include timestamps, addresses, and alleged online activity linked to Dorsey’s past.
However, skeptics argue that no definitive proof exists. Critics also question whether Dorsey, who led Twitter’s content moderation, would align with Bitcoin’s uncensorable ethos. Despite previous denials, Dorsey has yet to respond to these latest claims, leaving the mystery of Satoshi’s identity unresolved.
Howard Lutnick, former CEO of Cantor Fitzgerald and a vocal Bitcoin advocate, has been confirmed as the US Secretary of Commerce in a 51-45 Senate vote. Lutnick has long supported Bitcoin and stablecoins, advocating for their global acceptance and clearer regulations.
Under his leadership, Cantor Fitzgerald managed Tether’s US Treasury reserves and launched a $2 billion Bitcoin financing program. Beyond crypto, Lutnick backs Trump’s trade policies, including tariffs on imports. While Bitcoiners celebrate his appointment, some economists warn about potential trade tensions. His tenure will influence US economic policy and digital asset regulations significantly.
BlackRock’s Bitcoin ETF has surpassed 50% market share, holding over $56.8 billion in BTC despite a three-day sell-off. Bitcoin ETFs saw $364 million in net outflows on Feb. 20, with BlackRock’s iShares Bitcoin Trust accounting for $112 million. Bitcoin remains resilient, recovering above $99,300, suggesting other market forces like institutional accumulation and macro trends are at play.
Some experts believe Bitcoin’s price is being artificially suppressed, with its range-bound movement appearing unnatural. Despite concerns, ETFs have driven Bitcoin’s 2024 rally, contributing 75% of new investment as the asset reclaimed $50,000 on Feb. 15.
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Ethereum Highlights of the Week
Franklin Templeton has introduced the Franklin Crypto Index ETF (EZPZ), a fund holding both Bitcoin and Ether, making it the second cryptocurrency index ETF in the U.S. after Hashdex’s Nasdaq Crypto Index ETF. EZPZ tracks the CF Institutional Digital Asset Index, currently comprising 87% BTC and 13% ETH, with plans to expand as more assets are added.
The fund offers investors exposure without direct crypto purchases. U.S. regulators are easing restrictions, prompting a wave of ETF filings, including proposals for Solana, XRP, and Litecoin. Bloomberg Intelligence sees high approval odds for upcoming crypto ETF applications.
The Ethereum Foundation is hiring a social media manager to improve community engagement following criticism of its perceived disconnect. The remote role involves managing platforms like X, Facebook, and LinkedIn, amplifying ecosystem updates, and organizing campaigns. Josh Stark announced the job on X, emphasizing the need for an experienced communicator with deep Ethereum knowledge.
This move follows backlash over recent ETH sales, which some argue undermine trust. Vitalik Buterin defended the sales, citing regulatory pressures and long-term sustainability. The new role aims to address transparency concerns and strengthen the foundation’s relationship with the Ethereum community.
Ethereum co-founder Vitalik Buterin expressed concerns over the crypto industry's moral shift, particularly criticism of Ethereum for not embracing blockchain gambling. In a Feb. 20 AMA, he dismissed claims that Ethereum is “intolerant” for not supporting casino-based applications. Buterin emphasized that offline interactions reassure him that Ethereum’s core values remain intact.
He hinted at potential changes in the Ethereum Foundation’s neutrality regarding applications. This follows recent funding shifts, with the foundation allocating 45,000 ETH ($120M) to DeFi platforms after criticism for selling ETH. The foundation is also exploring staking as an alternative funding mechanism.
The Ethereum Foundation has introduced the Open Intents Framework to streamline cross-chain asset transfers and unify the fragmented Layer-2 ecosystem. Developed with major L2 networks, wallets, and infrastructure providers, the initiative enhances interoperability by allowing users to transact seamlessly across chains.
By standardizing cross-chain interactions, intents enable decentralized finance, social platforms, and AI applications to function more efficiently. Proposed by Across and Uniswap in April 2024, the framework modularizes key components, giving developers greater flexibility. The goal is to make Ethereum’s multi-chain environment feel like a single, cohesive network, reducing inefficiencies and enhancing user experience.
A Chinese Ethereum investor, Hu Lezhi, burned 2,553 ETH worth $6.8 million, sending it to null addresses and donations like WikiLeaks. Lezhi claimed corporations and Chinese entities were using "brain-computer weapons" to control minds and enslave individuals.
His onchain messages accused executives of Kuande Investment of being both perpetrators and victims of this technology. The transactions, which began on Feb. 10 and continued until Feb. 17, conveyed warnings about digital enslavement. Crypto intelligence platform Arkham flagged the unusual fund movements, highlighting Lezhi’s drastic financial sacrifice to spread his concerns.
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Solana Highlights of the Week
Grayscale Investments has introduced the Grayscale Pyth Trust, providing qualified investors with exposure to PYTH, the governance token of the Pyth Network. Pyth supplies real-time market data to over 90 blockchain networks, with 95% of Solana-based decentralized applications relying on its price feeds.
Grayscale positions PYTH as a high-beta asset tied to Solana’s growth. This move follows the firm’s expansion into single-asset funds, including Dogecoin, Lido, and Optimism, reinforcing its commitment to diversifying crypto investment options beyond its Bitcoin and Ethereum ETFs.
Solana’s token minting boom is slowing down, with daily launches on Pump.fun, its top memecoin launchpad, dropping from a January peak of 95,578 to just 49,779 on Feb. 19. The decline follows controversy surrounding politically tied memecoins, including Argentina’s LIBRA token, which reportedly lost investors $251 million.
Pump.fun’s revenue also plunged to $1.69 million, its lowest since November. The memecoin slowdown is impacting Solana’s dominance in fees and transactions, with industry leaders, including Vitalik Buterin and Brian Armstrong, criticizing the speculative market. Meanwhile, the SEC has launched a new unit to tackle blockchain-related fraud.
Coinbase has launched Solana (SOL) futures on its CFTC-regulated US derivatives exchange, a move that could accelerate institutional adoption and pave the way for a SOL ETF. The exchange also introduced Hedera futures, reinforcing the growing demand for regulated crypto derivatives.
Bloomberg Intelligence estimates a 70% chance of SOL ETF approval by 2025, with futures-based ETFs potentially arriving by March. Meanwhile, crypto derivatives markets have surged, with Coinbase expanding its offerings to include Bitcoin, Ether, and even memecoins like Dogecoin and Shiba Inu.
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