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- Raydium has broken a multi-month descending resistance, but sustainability depends on holding the $0.65 support.
- Outflows continue for BTC/ETH ETPs, but Solana and XRP are seeing fresh demand from institutional investors.
- The CFTC is fighting state-level “encroachment” in Nevada to protect prediction markets as financial hedging tools.
The third week of February 2026 is proving to be a defining moment for the digital asset landscape. While the “Big Two”—Bitcoin and Ethereum—struggle to find solid footing, specific sectors of the altcoin market are showing unexpected resilience. Most notably, the Solana-based decentralized exchange Raydium (RAY) has caught the eye of technical analysts following a massive surge in market participation.
Raydium Breaks Multi-Month Slump
RAY recently outperformed the broader market, climbing over 11% in a single day to hit $0.69. This move wasn’t a slow crawl; it was a decisive expansion fueled by a staggering 200% increase in trading volume, which reached $60.5 million.
This activity allowed the token to punch through a descending resistance line that had capped its growth for months. Technically, the Relative Strength Index (RSI) has rebounded from oversold levels to near 46, suggesting a steady rebuilding of momentum rather than an immediate risk of overheating. However, caution remains: exchange inflows of roughly $572,000 suggest some traders are moving assets to platforms to take profits, and the 90-day Spot Taker CVD has flattened, indicating that the initial aggressive buying spree may be cooling into a period of balance.
Bitcoin Finds a New Range Amid Institutional Shifts
While Raydium rallies, Bitcoin continues to test investor patience. After a brief flirtation with the $70,000 mark over the weekend, BTC retreated to lows of $67,200. Bitfinex analysts are framing this as a “stabilization phase” rather than a bearish collapse, predicting the asset will remain range-bound between $55,000 and $78,200 for the foreseeable future.
Also Read: Raydium (RAY) Price at Risk: Will Bulls Defend the $2.4 Support or Drop to $2?
Institutional behavior is currently split. CoinShares reports $173 million in net outflows from crypto ETPs last week—the fourth consecutive week of distribution. Interestingly, while Bitcoin and Ethereum saw significant sell-offs, Solana and XRP bucked the trend with combined inflows of over $64 million. Even major academic players are rebalancing; Harvard Management Company reportedly trimmed its Bitcoin ETF exposure by 21% in late 2025, choosing to diversify with its first $86.8 million entry into Ethereum.
Regulatory Clashes Over Prediction Markets
Beyond price action, a significant legal battle is brewing in the “event contract” space. CFTC Chair Mike Selig has voiced strong opposition to state-level attempts to regulate prediction markets as gambling. The agency has joined forces with Crypto.com in a lawsuit against Nevada, arguing that these markets are vital risk-management tools for aggregating future probabilities. The outcome of this clash could fundamentally change how hedging products are accessed in the U.S. market.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
