BTC and Precious Metals Show Inverse Performance Pattern in Q3 2025

USDT market capitalization declines for two consecutive months; weakening stablecoin liquidity may hinder Bitcoin and the crypto market recovery

February 25 News, the world's largest stablecoin USDT's market capitalization has once again shown signs of contraction, declining for the second consecutive month, prompting a reassessment of liquidity and capital strength in the crypto market. The latest data shows that USDT's market cap has decreased by approximately 0.8% this month to $183.6 billion, a significant pullback from the previous all-time high of $186.8 billion, continuing the downward trend from January. This consecutive shrinking is relatively rare since the stablecoin trust crisis in 2022, leading to a more cautious market sentiment. Stablecoins have long been regarded as the "capital reservoir" of the crypto market, with their size changes often directly reflecting off-chain capital inflows or outflows. Analyst Rachael Lucas pointed out that a reduction in stablecoin supply usually indicates a decline in market purchasing power. When liquidity tightens, the upward momentum of mainstream assets is also suppressed. The current weakening of USDT's market cap has been interpreted by some institutions as an important signal that capital has not yet flowed back into crypto assets on a large scale.

Trump's State of the Union address made no mention of cryptocurrencies and did not signal a rate cut, with high interest rate expectations suppressing Bitcoin and risk assets.

On February 25, U.S. President Trump delivered a nearly two-hour State of the Union address, setting a record for the longest in history. Although the speech covered core topics such as taxation, artificial intelligence, tariffs, and inflation, it completely omitted any mention of cryptocurrency policies or digital asset regulation. This stance was interpreted by the market as a lack of clear policy catalysts for the crypto industry in the short term. Despite his children Donald Trump Jr. and Eric Trump being deeply involved in crypto projects like World Liberty Financial, digital assets have yet to enter the official policy narrative framework. On a macro level, Trump defended tariff policies in his speech and expressed dissatisfaction with relevant Supreme Court rulings, while also signaling that tariffs would be maintained through other legal channels. However, the repeated adjustments of tariff rates from 10% to 15% have increased trade policy uncertainty. The European Union has paused trade agreement progress, and India has delayed negotiations, leading to a rise in global macro risk premiums, which directly impacts the valuation logic of risk assets.

XRP Price Consolidates Near $1.36 as Bitcoin Reclaims $65K, $2 Target Hinges on Key Resistance Break

XRP is trading near $1.36 on February 25, 2026, following Bitcoin's rebound to $65,000 after defending the $62,800 support zone, with immediate resistance at $1.45 and $1.60. The token's path toward the $2 macro target requires a decisive breakout above $1.60 and renewed relative strength against BTC, as the XRP/BTC pair remains in a broader downtrend despite improving momentum indicators.

Trump's State of the Union address did not mention Bitcoin and cryptocurrencies, and the market's expectations were disappointed, causing intense price volatility.

February 25 News, U.S. President Trump did not mention Bitcoin, blockchain, or cryptocurrency policies in his important policy speech (State of the Union Address) in February 2026, sparking significant attention in the crypto market. Previously, most investors expected Trump to signal regulation of digital assets, financial innovation, or the development of the crypto industry. Therefore, his "avoidance of mentioning cryptocurrencies" quickly became a key variable for traders interpreting macro sentiment. From the content of the speech, Trump mainly focused on economic growth, employment, border security, and national security issues, without touching on any policy directions related to digital assets. This silence surprised some supporters of the crypto industry. Over the past two years, Trump has expressed a positive attitude toward Bitcoin and digital finance multiple times and supported crypto-related projects, leading the market to view him as a potential "crypto-friendly" politician.

Bitcoin Depot Requires ID for Every Crypto ATM Transaction

Bitcoin Depot has implemented a new policy mandating identification for every transaction at its ATMs to enhance compliance and reduce fraud. This change extends previous ID checks and responds to increased regulatory scrutiny and fraud concerns, notably following lawsuits from various states.