BNB Short-Term Drops Below $750

On February 4, asset management firm ProShares announced the launch of the KRYP ETF—the first U.S. cryptocurrency asset ETF tracking the CoinDesk 20 Index. The fund gives investors exposure to a basket of the 20 largest and most liquid cryptocurrencies by market capitalization. The index is market-weighted with weight caps and undergoes quarterly rebalancing to mitigate single-asset concentration risk. The CoinDesk 20 is selected from the top 250 cryptocurrencies by market cap, excluding stablecoins, meme coins, privacy coins, and various pegged/wrapped assets. ProShares noted that as the cryptocurrency market matures, investors are shifting from individual assets to more diversified allocations. KRYP aims to provide a decentralized entry point into the crypto market via a single ticker.

On February 4, Chicago-based derivatives exchange Bitnomial announced that the first regulated Tezos (XTZ) futures contract in the U.S.—targeted at institutional investors—has officially launched, with retail users able to trade via its Botanical platform. Tezos was first proposed in 2014 and raised roughly $232 million in its 2017 initial coin offering (ICO), ranking among the largest ICOs in history. The protocol is known for its "self-amending" governance system and early embrace of proof-of-stake (PoS) consensus. Bitnomial noted it also plans to roll out XTZ perpetual contracts and options products down the line. Tezos co-founder Arthur Breitman emphasized that regulated futures will enhance price discovery and risk hedging, boosting institutional engagement. The exchange has previously been the first to launch compliant derivatives for crypto assets like XRP, Solana, and Aptos in the U.S.

February 4th: U.S. private payrolls added just 22,000 jobs in January, missing expectations, according to ADP Research Institute data released Wednesday. The figure also included a downward revision to the prior month’s reading, signaling a continued labor market slowdown to start the year. With official U.S. Bureau of Labor Statistics (BLS) data delayed due to a partial government shutdown, ADP’s report is the most comprehensive reference for January’s labor market this week. While recent months have shown some stabilization signs, the weaker-than-expected private gain suggests the labor market remains cool in January. ADP noted the education & health services sector led hiring gains, while professional/business services posted its biggest employment drop since June 2023. (FXStreet)

February 4th — Bitcoin has seen a sharp pullback recently, fueling market fears of a deep downturn in crypto assets, per Forbes. Over the past week, BTC is down ~10%, briefly falling below $80k, hitting a recent low of $73k before rebounding to just over $75k. Amid a sudden shift in market sentiment, Binance co-founder CZ (Changpeng Zhao) said his confidence in Bitcoin’s 2026 “super cycle” has dropped sharply. He cited market FUD (fear, uncertainty, doubt), extreme liquidations, and geopolitical risks as drivers of “very high” current volatility. A super cycle remains possible, but the odds have fallen to ~50%. Meanwhile, Michael Burry — the legendary investor and *The Big Short* inspiration — warned Bitcoin could drop further to $50k. If BTC hits that level, mining firms may face severe financial strain, even bankruptcy risk, he noted. Bitcoin weakness fears have deepened as funds rush into traditional safe havens like gold and silver. LMAX Group CEO David Mercer said the mar

February 4: U.S. January ADP Employment Change rose by 22,000, falling short of the market’s median forecast of 48,000. (FX168)

As of Feb. 4, CME’s FedWatch Tool indicates: 10% odds of a 25-basis-point Fed rate cut in March (90% chance rates hold steady); 21.6% odds of a cumulative 25bps cut by April (77% unchanged, 1.5% 50bps cut); and 44.8% odds of a cumulative 25bps cut by June.