As of February 23, 2025, Bitcoin is trading at approximately $95,755.07, reflecting a -0.56% decrease over the past 24 hours. Ethereum is priced around $2,819, up +2.03% in the same period.This article explores major shifts in digital finance that impact the crypto market in significant ways. Strategy is preparing for an aggressive BTC purchase and a break that signals a new phase in their investment approach. Furthermore, the SEC's formation of a new cyber unit aimed at curbing digital fraud and bolstering cybersecurity compliance. The article also discusses rising altcoin trading volumes and liquidity challenges that could shape market behavior in the coming months. It also covers the launch of YLDS, a yield-bearing stablecoin that combines blockchain technology with traditional finance.
Crypto Fear & Greed Index | Source: Alternative.me
The Fear and Greed Index has decreased to 49, indicating a neutral market sentiment. Bitcoin has remained below the $100,000 mark, experiencing limited whale accumulation and low volatility.
What’s Trending in the Crypto Community?
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Strategy’s Michael Saylor shared Bitcoin Tracker information again, possibly hinting at upcoming purchase announcements.
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On February 20, 2025 the SEC replaced its Crypto Assets and Cyber Unit with the new Cyber and Emerging Technologies Unit.
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SEC Approves Figure Markets’ YLDS Stablecoin with 3.85% APR
Trending Tokens of the Day
Bitcoin Purchase and Strategy's Plan
Strategy’s Bitcoin purchases over time. Source: SaylorTracker
Michael Saylor posted a chart on Sunday that signaled an impending BTC purchase at current price levels of $96,052. Furthermore, the chart has become a weekly ritual that reveals Strategy's commitment to BTC. Moreover, Saylor stated “I don't think this reflects what I got done last week”,in a February 23, 2025 X post. Strategy took a one-week break from buying following its February 10, 2025 acquisition of 7,633 BTC valued at over $742 million.
The company now holds 478,740 BTC valued at roughly $45.8 billion while SaylorTracker data shows the BTC stash now exceeds $46 billion. Moreover, their BTC investment has grown by 47.7% and a $2 billion convertible note was issued on February 20, 2025 as part of its 21/21 plan. In addition the company plans to use intelligent leverage in Q1 2025 to finance further BTC purchases and add more value for its shareholders.
Large Corporate and State Institutions Bet on Strategy
12 US state pension programs and treasury funds with exposure to Strategy. Source: Julian Fahrer
Large financial institutions invest in Strategy. They buy shares and fixed-income securities despite doubts over the Bitcoin acquisition plan. A February 6, 2025 SEC filing shows BlackRock increased its stake in Strategy to 5%. BlackRock manages over $11.6 trillion in assets. It acted one day after MicroStrategy rebranded to Strategy and launched a Bitcoin-themed campaign. Twelve US states hold Strategy stock in their pension programs and treasury funds. These include Arizona, California, Colorado, Florida, Illinois, Louisiana, Maryland, North Carolina, New Jersey, Texas, Utah, and Wisconsin. California's State Teachers' Retirement Fund leads with nearly $83 million in Strategy stock. The California Public Employees Retirement System follows with about $76.7 million in shares. On February 20, 2025, Strategy priced a $2 billion convertible note tranche to fund more Bitcoin acquisitions.
Read more: MicroStrategy Buys More Bitcoin with $1.1B, Pushing Holdings to 461K BTC
SEC Reforms Crypto and Cyber Unit
Source: SEC
On February 20, 2025, the SEC replaced its Crypto Assets and Cyber Unit with the new Cyber and Emerging Technologies Unit. Furthermore the unit targets AI-driven fraud schemes, blockchain fraud, social media manipulation and cybersecurity compliance failures. Moreover The unit will not only protect investors but will also facilitate capital formation and market efficiency by clearing the way for innovation to grow. It will root out those seeking to misuse innovation to harm investors and diminish confidence in new technologies, said Acting SEC Chair Mark Uyeda. Additionally the unit is led by Laura D’Allaird and consists of 30 attorneys and fraud specialists across 9 SEC regional offices. Furthermore, it focuses on 6 key areas including hacking of material nonpublic information and brokerage account takeovers. Moreover, the SEC has rescinded restrictive accounting guidelines and clarified crypto asset classification rules to support broader reforms that aim to modernize the regulatory framework.
Read more: The Race for Strategic Bitcoin Reserves: More U.S. States Move Toward Crypto Adoption
CryptoQuant: Altcoin Season 2025 Has Begun
The price correlation between Bitcoin and altcoins is waning. Source: Ki Young Ju
CryptoQuant CEO Ki Young Ju said that altcoin season may have begun this month. He reported that the 90-day moving average of altcoin trading volume on centralized exchanges has risen since mid-November 2024. Moreover, the altcoin-to-BTC trading volume ratio increased from 1.77 to 2.77 as of February 20, 2025. Additionally, he said in a public update that “Alt season has begun" he stated in a public update. Altcoin volume now stands at 2.7 times that of BTC with trading concentrated on Ethereum, XRP, BNB and Solana. Moreover, aggregated altcoin trading volume for stablecoin pairs peaked at $60.4 billion on February 3, 2025. In addition, a Kaiko report noted that the top 10 altcoins by market cap account for 64% of daily liquidity while only 3 of 22 altcoin sectors posted positive year-to-date performance. Furthermore the overall crypto market performance stands at negative 24.9% with 13 altcoin sectors losing more than this percentage.
SEC Approves Figure Markets’ YLDS Stablecoin with 3.85% APR
Source: X
Figure Markets launched YLDS, a yield-bearing stablecoin registered with the SEC on February 20, 2025 that intends to provide 3.85% APR. Furthermore, YLDS enables users to earn daily interest while maintaining liquidity. Moreover it operates as a fixed-price digital asset on the Provenance Blockchain. Unlike USDT, YLDS shares reserve yields with its holders at a 3.85% APR and its yield comes from assets similar to prime money market funds and its interest rate is calculated as the Secured Overnight Financing Rate minus 0.50%. Moreover, YLDS supports peer-to-peer transfers and offers instant redemption for US dollars or other stablecoins. Additionally, users can access fiat off-ramps during US banking hours for easy conversion. Mike Cagney said “YLDS has potential for exchange collateral cross-border transactions and payment networks". The stablecoin’s current yield positions it above US Treasury bonds, which offer 2.89% for 10-year notes and 3.24% for 30-year bonds, though below the average high-yield savings account rate of 4.75%. Stablecoins now boast a market capitalization exceeding $230 billion and serve a critical role in global digital transactions.
Stablecoin market cap crosses $200 billion (CCData)
Read more: Top Types of Stablecoins You Need to Know in 2025
Conclusion
These developments highlight the dynamic evolution of digital finance and the crypto market. Furthermore, Strategy continues to execute aggressive BTC purchases with holdings of 478,740 BTC valued at over $46 billion and an investment gain of 47.7%. Moreover, the SEC reforms and creation of the CETU signal a strategic shift in regulatory focus with 30 experts across 9 offices aiming to counter digital fraud. Additionally, rising altcoin trading volumes and a 2.7x BTC ratio point to a selective altcoin season amid liquidity challenges. Furthermore YLDS introduces regulated yield-bearing stablecoin innovation with a Secured Overnight Financing Rate minus 0.50% interest calculation and support for fast conversions. In summary, technical advances and bold market moves are driving the crypto ecosystem forward with robust numbers and figures that will shape the future of digital finance.
