Indiana’s legislature has passed House Enrolled Act 1042, a Bitcoin-focused bill that would safeguard self-custody, node operation, and peer-to-peer transactions while addressing perceived discriminatory taxation of crypto. The measure would also require state pension boards to provide at least one cryptocurrency investment option via a self-directed brokerage structure if it receives the governor’s signature.

Bitcoin rebounded to $68,000 and added 4% on Thursday after earlier declines, but Glassnode said price action remains confined to a defensive consolidation between $60,000 and $69,000. Indicators show a 46% drawdown, roughly 9.2 million BTC held at a loss, and an Accumulation Trend Score below 0.5 since early February, suggesting upside depends on renewed spot absorption and stronger large-entity and institutional participation.

Crypto traders have accused Jane Street of driving a recurring 10:00 am Eastern Time Bitcoin price drop through programmatic selling linked to its IBIT holdings and a prior Terraform Labs lawsuit. Market analysts counter that blockchain and price data do not support a systemic dump pattern and argue that Bitcoin's large, fragmented market cannot be steered into a prolonged bear phase by any single trading firm.

American Bitcoin Corp. reported a fourth‑quarter 2025 net loss of $59.5 million as revenue climbed to $78.3 million, up 22% quarter over quarter. The miner finished 2025 with 5,401 BTC and says its balance has since surpassed 6,000, while ABTC shares have fallen 85% over six months as peers pivot to AI and, in one case, fully liquidate Bitcoin reserves.

American Bitcoin reported a $153.2 million net loss for full-year 2025, driven by a $227.1 million non-cash mark-to-market under fair value rules. The miner posted $185.2 million in revenue, ended 2025 with 5,401 BTC, and says its reserve has since surpassed 6,000 BTC as it scaled production and accumulation.

Over the past two days, Bitcoin rebounded from a low of $64,758 to reclaim the $68,000 area, triggering a short squeeze that wiped out more than $370M in leveraged positions. As BTC flipped the $66,000 zone into support, Circle reported revenue rising 77% to $770M while NEAR Protocol outperformed with a 17% gain following its "Confidential Intents" launch.

On February 25, U.S. spot Bitcoin ETFs drew more than $506 million in daily inflows, the strongest reading since February 2, with weekly totals above $760 million. BlackRock added $297 million and Grayscale just over $102 million, while the crypto market rose 6.5%, reclaiming about $140 billion and lifting Bitcoin to around $68,000.

A prolonged phase of Bitcoin miner stress appears to be approaching its conclusion, as the Hash Ribbon indicator moves toward a recovery crossover after roughly three months of capitulation. With BTC trading below an estimated production cost near $68,000 and key support forming around $60,000 to $69,000, conditions suggest a potential price floor, though further miner selling remains possible if profitability does not improve. The indicator’s behavior now resembles past cycles that preceded major rallies, raising the prospect of a post-capitulation rebound if price momentum aligns.