Weekly: monobank and cryptocurrencies, Buterin supported Ukraine, fear around bitcoin, and a US shutdown risk

Weekly recap: bitcoin entered the zone of extreme fear, funds are once again giving up capital, regulators are adding uncertainty, and meanwhile Web3 and AI keep accelerating infrastructure as if the market isn’t falling, just pausing to catch its breath.

Bitcoin: extreme fear without a pretty ending

Bitcoin dipped below 67 000. On derivatives this showed up as liquidations of almost 295 млн, and the Fear and Greed Index fell to 9. That’s the level where people stop building theories and simply cut risk and wait it out. There’s a nuance, though: 90-day futures are still trading at a premium of about 4% to spot, so the market seems scared, but it’s not rushing to capitulate.

ETFs and big money: outflows now, bets later

From February 2 to February 6, nearly 500 млн was withdrawn from bitcoin and Ethereum ETFs. That’s the third straight week of outflows and more than 4,2 млрд in total. Against that backdrop, banks sound calmer than crypto Twitter: it was mentioned that Goldman Sachs holds about 21,2 млн shares of spot bitcoin ETFs worth roughly 1,06 млрд. And sentiment is the usual classic: some talk about pressure on miners, others keep very optimistic targets for 2026.

Miners: the cost level became psychology again

When the price approaches zones the market reads as the cost of mining, talk immediately starts about who won’t make it. This week they cited a reference level around 77 000 and the idea that below it pressure on miners increases. Even if the number isn’t perfect for everyone, the mechanism is simple: fear loves to find the weak link.

Ethereum: accumulation, AI, and a governance rebuild

Ethereum’s picture has two layers. On one hand, corporate accumulation: BitMine bought 20 000 ETH for more than 42 млн and, by estimates, controls about 3,58% of supply. At the same time, whales keep adding since the summer of 2025, and holders with balances under 1 ETH hold a record share of supply. 

On the other hand, the narrative is increasingly about AI: there was talk of a synergy between Ethereum and AI through privacy, cryptography, and decentralization, as well as new ideas at the intersection of ZK and interaction with LLMs.

Vitalik Buterin supported Ukraine

This week, Vitalik Buterin’s public support for Ukraine stood out: he again called the full-scale invasion by the РФ a criminal aggression and emphasized that February 24 should remain a day of full support for Ukrainians.

Altcoins: it hurts even for those holding reserves

A telling case with Solana as a treasury asset: a number of public companies that accumulated SOL in 2025 recorded more than 1,5 млрд in unrealized losses; together they control 18,3 млн SOL, and the value of their reserves fell by almost 40% in a day. In parallel, there were theses about a possible shift of 5–10% of capital from bitcoin into privacy coins, and on the institutional side there was movement in DeFi via a tokenized fund and activity around UNI.

Payments and messengers: Telegram, X Money, and wallets for AI agents

One of the most practical trends of the week is crypto payments inside social ecosystems. They introduced TON Pay for accepting Toncoin and stablecoins in Telegram mini apps, and TON Wallet added support for bitcoin and Ethereum. In parallel, they are preparing an external beta version of the X Money payment service. And another line: AI agents: wallets and infrastructure are appearing so algorithms can autonomously manage liquidity and pay for services.

monobank is pro-crypto, but cautiously

The co-founder of monobank allowed for cryptocurrencies to appear in the bank, but was skeptical about a fast legalization of the sector in Ukraine. The argument is grounded: opening the market could complicate capital flow controls and the NBU’s monetary policy. So innovations are interesting, but macrofinancial risks haven’t gone anywhere.

Regulation and oversight: a dead end, shutdown risk, and one very loud fail

In the US, negotiations on the CLARITY Act hit a dead end, in the EU they are preparing a complete ban on crypto transactions linked to the РФ, and in the US itself the Department of Homeland Security funding deadline threatens a third shutdown. And against big words about the rules of the game, a grounded case: in South Korea the regulator launched a check of Bithumb after an erroneous crediting of more than 620 000 BTC, many times exceeding actual reserves.

AI: money, competition, and the security topic

Analysts warned that a sell-off in software company stocks amid AI could hit the US credit market by 1,5 трлн. And in parallel, another reality: Anthropic raised 30 млрд at a 380 млрд valuation and 14 млрд in annual revenue. Money is flowing there as if risk doesn’t exist. Next: model competition, debate about security, and the acknowledgment that the risks of harmful scenarios are very low, but not zero.

Fraud and offline risks: threats are getting more serious

This week there was a lot about accountability and crime: two organizers of major fraud schemes in the US received 20-year prison sentences, in France there was an attack on the CEO of Binance France, and investigations are highlighting money laundering networks via crypto. 

The overall conclusion is simple: risks are no longer only on-chain, and security should be treated as routine, not as a one-off task.

What all this means for an investor

The market isn’t in the mood to forgive mistakes right now. Extreme fear easily triggers impulsive decisions, but in weeks like these discipline wins: fewer unnecessary bets, less leverage, more risk control. And if you look beyond the chart, pay attention to where infrastructure is really being built: payments in messengers, stablecoins, fintech integrations, and practical products that survive any volatility.

Kursoff’s view

This week showed well what a mature market looks like under stress: the price falls, sentiment sinks into extreme fear, but at the same time the space doesn’t stop and keeps putting together the puzzle of future infrastructure.

In short, your strategy here should be boring and that’s why it’s effective: don’t chase a short bounce, don’t sit on leverage, stick to a plan, and regularly tighten up security. Because in periods like these the market tests not bravery, but endurance.