The Daily Drip

✅ Top Takeaways

• BTC slides under $65K as whales hit exchanges: On‑chain data shows large holders sending coins to venues just as prices revisit early‑month lows.
• Tariff reset fuels risk‑off trade: The Supreme Court’s IEEPA ruling and a new 15% global tariff under a different statute keep trade anxiety high and liquidity thin.
• SOL’s RWA growth meets technical stress: A record tokenized‑asset footprint contrasts with a monthly sell signal that echoes the 2022 drawdown.

🧭 Crypto Market Summary

Bitcoin fell 4.22% to $64,761, reaching early‑February lows as on‑chain data pointed to increased whale activity with major holders moving coins onto exchanges. Ether dropped 4.84% to $1,862, XRP slipped 1.87% to $1.37, and Solana declined 5.30% to $78.36, extending a six‑week losing stretch across much of the large‑cap complex.

The selloff intensified after President Trump raised global tariffs to 15% from 10% over the weekend, just days after the Supreme Court struck down his earlier emergency‑powers tariff program. Markets now have to price both the legal reset and the economic impact of a blanket levy into already fragile growth expectations.

Ether trades below key moving averages with bearish momentum, while XRP hovers near critical support after nearly a 25% monthly drawdown. Both assets remain under pressure from risk‑off flows and ETF outflows that have persisted even as on‑chain user activity has held up.

Solana continues a roughly 55% six‑month slide despite its real‑world‑asset ecosystem climbing to around $1.66 billion in tokenized value — a new high for the network. Technical gauges such as a monthly SuperTrend sell signal and trend strength indicators suggest further downside risk if broader conditions remain stressed.

💰 ETF Flows & Market Structure

U.S.‑listed spot Bitcoin ETFs have now logged about $3.8 billion in net outflows over five straight weeks, the longest withdrawal run since early 2025. Hedge funds and fast‑money accounts that piled in near the 2025 peaks appear to be the first to de‑risk as BTC trades nearly 50% below its October high above $126,000.

Even with that bleed, cumulative net inflows since launch remain strongly positive, leaving roughly $50–55 billion of spot ETF exposure still in the market. The current outflow streak looks more like a positioning reset and macro stress test than a full‑scale exit from the wrapper.

Desk take: risk‑budget constraints and VAR limits are forcing some institutional holders to cut BTC, while longer‑horizon allocators watch for stabilization in flows and tariffs before re‑entering with size.

🌍 Courts, Tariffs & Safe Havens

• IEEPA tariffs struck down: The Supreme Court invalidated the administration’s earlier use of emergency powers for sweeping global tariffs, reinforcing Congress’s role over broad‑based tax policy.
• New 15% global levy: In response, President Trump introduced a 10% global tariff and quickly raised it to 15% under a different statute, with a 150‑day time limit unless Congress acts. The shift keeps trade partners on edge and raises questions about growth, supply chains and inflation.
• Safe‑haven rotation: As tariffs escalate and geopolitical tensions simmer, investors have rotated toward gold and silver, which are up roughly 20% and 23% year‑to‑date, while liquidity‑sensitive crypto assets absorb the outflow.

Why it matters: tariff volatility and safe‑haven demand feed directly into real‑yield expectations and risk appetite — two of the main macro levers for Bitcoin and the broader digital‑asset market.

🏗️ Solana, RWAs & Trend Risk

Solana changes hands around the high‑$70s after a more than 5% daily drop, extending a six‑month slide of about 55%. At the same time, its real‑world‑asset ecosystem has reached roughly $1.66 billion in tokenized value — an all‑time high that underscores ongoing builder activity despite price pressure.

A monthly SuperTrend sell signal, combined with strong trend‑strength readings, has some analysts drawing parallels to 2022, when SOL ultimately shed about 95% from peak to trough. For now, traders are watching whether fundamental traction in RWAs and DeFi can offset the technical overhang or if another capitulation leg is still ahead.

⚡ Risk & Market Lens

With BTC now down nearly 26% year‑to‑date and Ether more than 37%, the market is firmly in repair mode: leverage has been squeezed, ETF flows are negative and extreme‑fear sentiment remains entrenched, but forced sellers have not fully exhausted yet.

What to watch: whether ETF outflows slow or reverse into the next CPI/PCE prints, how trading partners respond to the 15% global tariff, and if on‑chain whale distribution eases — all key signals for when this drawdown might shift from “orderly de‑risking” to base‑building.

📊 Sentiment Dashboard

🔢 Market Performance

• BTC and Ether both post sharp daily and weekly losses, leaving them down roughly one‑quarter and more than one‑third year‑to‑date, respectively.
• SOL, BNB and ADA are now carrying drawdowns similar to or worse than BTC, reflecting broad‑based stress across large‑cap alts rather than isolated weakness.
• TRX is one of the few majors still barely positive on the year, while DOGE and BCH struggle to hold key support zones after another week of selling.

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Disclaimer

This newsletter is for informational and educational purposes only and is not investment advice, a solicitation, or an endorsement of any strategy or asset. H2cryptO does not warrant data accuracy or completeness.

Crypto assets are highly volatile and may be illiquid. Always consult qualified professional advisors, use caution, and comply with local laws before making strategic, financial, or investment decisions.