Is the Crypto Market Turning Healthy Again?

Bitcoin continues its major consolidation phase, currently trading within a tighter range of $95.7K–$100K over the past two weeks, inside the broader $90K–$110K range that has defined price action for the last two months. This prolonged stagnation has led to a lack of buying interest from both retail and institutional investors, further reducing market volatility.

Altcoins Recover as Memecoin Frenzy Fades

Altcoins are beginning to show signs of life as the memecoin casino starts to die down. Data from Dune Analytics indicates that active users and new sign-ups on Pump.fun are rapidly declining, returning to pre-rally levels—an extremely healthy sign for the broader crypto market.

Money leaving the memecoin space is a long-term benefit for crypto as a whole. Much of this capital was purely speculative, with 99% of the flow ending up in the hands of scam token creators and rug pulls. Now, these funds are rotating back into Bitcoin and other altcoins, strengthening the market.

Regulatory Shift Fuels Market Optimism

A major recent development supporting this bullish momentum is the US SEC withdrawing its appeal of a ruling that blocked its attempt to expand securities laws to cover decentralised finance (DeFi). This policy shift is already having a tangible impact, with Sonic surging another 20% in the last 24 hours, solidifying its dominance in the market.

The newly appointed crypto task force and a more crypto-friendly SEC are already making waves. Could this be a sign of what’s to come—pro-crypto regulations fueling further market rallies?

Stormrake Spotlight: Ondo Finance (ONDO) ($1.23)

Ondo Finance (ONDO) is showing signs of a potential reversal after sweeping the lows of its accumulation range and bouncing 10% from that level. Now, it’s eyeing a reclaim of the 0.382 Fibonacci level at $1.25, which would be the first step in flipping long-term momentum back in favour of the bulls.

BTC/USD Key Levels and Price Action:

Bitcoin is approaching a retest of the $100K key level after flipping structure and momentum in favour of the bulls over the past day. Now trading above all major moving averages, BTC is expected to find support at the 21 EMA on any slight pullbacks as it continues its climb toward six figures.

BTC Total ETF Flows for 20 Feb: $ -94.6 million

ETH/USD Key Levels and Price Action:

Ethereum has inched higher but remains within its established range, currently sitting between two key levels. The outlook still favours a retest of the range high at $2,865, with the 21 and 55 EMAs expected to act as bounce levels on the way up.

ETH Total ETF Flows for 20 Feb: $ -10.3 million

*All prices are denominated in USD unless stated otherwise*

Written by Alexandar Artis

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