BTC rebounds to $78K after weekend crash, TeraWulf surges 11% | Crypto Briefing Feb 3

Bitcoin staged a modest recovery today, climbing back above $78,000 after weekend selling pressure pushed the cryptocurrency below $75,000. The bounce comes as mining infrastructure plays gain momentum and blockchain adoption expands into humanitarian aid.

Top Stories

TeraWulf Surges 11% on Power Site Acquisitions

TeraWulf jumped 11% after acquiring power-rich sites in Kentucky and Maryland, bringing the company's total capacity to 2.8 gigawatts. The acquisitions position TeraWulf to capitalize on growing demand for power-hungry computing infrastructure as AI and crypto mining operations scale.

Spanish Red Cross Pioneers Blockchain Aid Distribution

The Spanish Red Cross launched RedChain, a privacy-preserving blockchain aid platform that uses zero-knowledge proofs to protect beneficiary identities while providing donors cryptographic proof of impact. The Ethereum-based system represents a significant step toward mainstream blockchain adoption in humanitarian work.

Crypto Press Releases Dominated by Suspicious Projects

A new report reveals most crypto press releases come from high-risk projects, raising concerns about market manipulation and disclosure practices. The findings highlight ongoing challenges in separating legitimate developments from promotional hype in the crypto space.

Markets

Bitcoin Recovery Faces Resistance

• Bitcoin rebounded toward $79,000 after weekend lows below $75,000, though analysts caution the move reflects technical bounce rather than sustained recovery
• Spot Bitcoin ETFs snapped outflow streak with $562 million in daily inflows, marking largest intake since January 14
• CryptoQuant data shows Bitcoin supply in loss signals early bear market conditions, with structural market weakening evident
• Dollar strength poses challenge to Bitcoin recovery as DXY logs strongest two-day gain in nine months

Altcoin Action

• SUI slid below $1.10 amid broad crypto selloff as Hong Kong's HashKey Exchange confirms new listing
• HYPE token jumps over 10% as Hyperliquid introduces outcome trading via HIP-4 upgrade
• STABLE hits all-time high ahead of mainnet upgrade scheduled for February 4

Corporate Moves

Major Acquisitions and Investments

• Elon Musk's xAI hiring crypto specialists to train AI models on crypto markets and trading behavior
• Cathie Wood's ARK bought over $70 million in crypto stocks during market dip, focusing on exchanges and stablecoin names
• Aave founder Stani Kulechov purchased £22 million London mansion in Notting Hill

Infrastructure Developments

• Tether launched MiningOS, open-source Bitcoin mining software as alternative to proprietary solutions
• ING Deutschland opened retail access to Bitcoin, Ethereum, and Solana ETPs for German customers
• Binance began executing $1 billion Bitcoin buying plan for SAFU protection fund

Regulation

Global Regulatory Developments

• Nevada court hit Polymarket with temporary restraining order, testing CFTC jurisdiction over prediction markets
• New York Attorney General criticized GENIUS stablecoin law citing consumer protection concerns
• Moscow Exchange plans Solana, XRP, and TRON futures contracts for qualified investors

Political Scrutiny

• Senator warns of "potentially criminal conduct" over UAE-World Liberty Financial deal as Trump denies knowledge of $500 million investment
• French police raid X's Paris offices, summoning Elon Musk over platform abuse allegations

Technology

Blockchain Innovation

• Flare unveiled new DeFi upgrade allowing XRP holders to earn yield through lending and borrowing features
• Nansen debuted NX8 index tracking BTC, ETH, SOL, HYPE and other Layer-1 leaders
• [Arbitrum issued security alert after DAO X account compromise