Crypto slips despite Trump Davos lift as Saylor adds $2.13B in BTC
Decrypt said major tokens fell broadly, even as Trump’s Davos speech gave crypto a brief lift and Saylor bought $2.13 billion of Bitcoin.
By Theo Nakamura · Staff Writer
· 4 min read
Crypto prices were under pressure after a rough day across broader markets, giving retail investors another reminder that digital assets can move fast when risk appetite fades. Decrypt reported that President Trump’s Davos speech gave crypto a small lift, but the wider market tone stayed negative.
In Decrypt’s market recap, Bitcoin was down 3% at $88,200, while Ethereum fell 6% to $2,905. Solana dropped 2% to $127, and XRP slid 2% to $1.88. Those are the kinds of moves that matter beyond the headline price: when large tokens fall together, it often signals investors are cutting exposure across riskier assets rather than reacting to one coin-specific story.
Decrypt also reported that Saylor bought $2.13 billion of BTC. BTC is the ticker for Bitcoin, the largest cryptocurrency by market value. The recap did not provide additional details on the purchase, but a buy of that size can draw attention because large public Bitcoin accumulation has become a key narrative for crypto investors watching institutional and corporate demand.
Liquidations added pressure
Bitcoin and Solana both moved below technical support levels, according to Decrypt. A support level is a price area where traders expect buying to appear because an asset has previously held near that range. When prices fall through support, it can trigger more selling from traders who use charts to manage risk.
Decrypt said more than $1 billion in long positions were liquidated as Bitcoin fell below $88,000. A long position is a bet that an asset will rise. A liquidation happens when an exchange automatically closes a leveraged trade because the trader no longer has enough collateral to keep it open. That can turn a price drop into a sharper slide, because forced selling adds to normal market selling.
Among the day’s stronger movers, Decrypt said MYX rose 11% and ZRO gained 10%.
Traditional finance keeps testing crypto access
Even with prices lower, Decrypt highlighted several signs that crypto is still pushing deeper into traditional financial products. Delaware Life added Bitcoin exposure to a fixed indexed annuity by linking performance to BlackRock’s spot Bitcoin ETF, according to Decrypt. A fixed indexed annuity is an insurance product whose returns are tied to an outside benchmark, while a spot Bitcoin ETF is a fund designed to track Bitcoin’s market price.
That move matters because it puts Bitcoin exposure inside an insurance wrapper, an area that usually moves more slowly than crypto exchanges or trading apps. Decrypt described it as one of the first major attempts to expand crypto access through traditional insurance products.
Galaxy Digital also announced plans for a $100 million hedge fund focused on crypto and fintech, according to Decrypt. A hedge fund is a pooled investment vehicle that can use a wider set of strategies than many retail funds, including private or higher-risk trades.
Policy and regulation stay front and center
Coinbase CEO Brian Armstrong traveled to Davos to push for a “win-win” U.S. crypto market structure bill, Decrypt reported. Market structure refers to the rules that define how crypto assets are issued, traded and overseen, including which regulator has authority over different parts of the market.
Decrypt also said the Commodity Futures Trading Commission warned it is not ready to take on a broader crypto oversight role because of staffing shortages after a workforce reduction of about 21.5%. The CFTC oversees derivatives markets, including futures contracts, and has been part of the U.S. debate over who should regulate crypto trading.
Outside the U.S., Portugal’s gambling regulator blocked access to Polymarket, citing unlicensed gambling concerns, according to Decrypt. Prediction markets let users wager on event outcomes, and regulators in multiple countries are examining whether those products fit under gambling, financial markets or other rules.
Decrypt also reported that Trump Media plans to airdrop crypto tokens to shareholders in February, describing it as the company’s first onchain incentive tied directly to stock ownership. An airdrop is a distribution of tokens to eligible users or holders, usually without a direct purchase at the time of distribution.
World Liberty Fi announced a Feb. 18 event at Mar-a-Lago, Decrypt said. The recap also included an interview with Blondish as part of Decrypt’s crypto video coverage.
This story draws on original reporting from Decrypt.
