War Breaks & $BTC Recovers!
Huge week for markets.
Welcome back Crypto Crib fam, we’d like to start this weeks letter by sending our thoughts to any of you who may have been affected by the current geopolitical landscape. Hopefully it’s over soon and life can resume as normal!
Now, into the markets, we will start with yesterdays price action after the initial Strike in Iran, where $BTC fell from $65,600 to $63,000 in a matter of minutes.
What followed was staggering. Not only a recovery once the news had been fully digested by the market, but a further RALLY up to $68,100.
Typically on bad news you would expect to see further drawdown, but the complete opposite happened. A very bullish signal, just how it lasts remains to be seen, but for now we can enjoy the brief recovery.
The week had started with the usual monstrous bids:
Bitmine bought another 51,162 $ETH($98.33M), they are now HODL’ing 4,422,659 $ETH ($8.5B).
And Michael Saylor’s Strategy purchasing an additional 592 $BTC for $39.8 million. As of 2/22/2026, they HODL 717,722 Bitcoin.
All the while the majority of market participants stay paralysed with fear.
We also saw USDT supply fall over -$3B, similar conditions occurred near Bitcoin’s BOTTOM in 2022.
Geographically, CZ says 'Binance US' may expand in the USA after the SEC dropped its lawsuit in 2023, while Russia looks took a more aggressive stance, with President Putin signing a law classifying crypto as “intangible property”.
This allows courts to freeze and confiscate crypto in criminal cases.
Regardless of headlines, the space continues to build, with Stablecoin behemoth Circle reporting monumental growth in 2025.
$USDC supply reached $75.3B, $11.9T in on-chain volume, and $770M in revenue and reserve income.
The stock responded positively all week, rallying a whopping 52.3%.
With institutional adoption only accelerating, these numbers look set to increase in 2026.
$BTC Supply in Profit & Loss has finally met in the middle. Which has historically this has marked great areas for accumulation and areas associated with bottoms.
And $BTC sat in a LOSS, is at a level that has previously coincided with bear market lows.
With the current uncertainly in the world, who knows what’s next for markets, but if the current data is anything to go by, some form of a relief rally would not be in the least bit surprising.
That’s it from us this week, be sure to follow us on X @Crypto_Crib_ and stay up to date with the latest market moving news.
Catch you soon!