Market Overview (24h)

  • Total crypto market cap is about 2.33T, up roughly 1.3% over the last 24h, indicating a modest bounce from Thursday’s local lows of 2.27T.1
  • Local data around 00:45 UTC (07:45 WIB, 2026‑02‑20) show BTC near 67,224 dollars (+1.2% 24h), with ETH slightly red and majors mixed: BNB, ADA, SOL, DOGE modestly green while XRP is slightly negative.2
  • KuCoin’s daily wrap has BTC around 67,142 dollars (±0.1% 24h), ETH at 1,983 dollars (‑1.2% 24h), and the Fear & Greed Index at 11 (“Extreme Fear”), reinforcing the idea of choppy consolidation rather than trend.3
  • Aggregated futures data show total crypto derivatives open interest at about 93.3B, down 7.6% over 24h, with 24h liquidations near 713M and slightly negative average funding (‑0.0044%) across all coins.4
  • BTC perpetual funding specifically is mildly positive at about 0.0042% on 2026‑02‑20, with spot around 67.8k, suggesting some residual long bias in BTC even as altcoin OI (ex‑BTC/ETH) has dropped double‑digits.54
  • BTC/ETH ETFs are in their fifth week of net outflows: one dataset shows daily net outflows of roughly 133M dollars for BTC products and 42M for ETH, even as cumulative net inflows remain around 54B and 11.7B respectively.6
  • Commentary from Yahoo and others pegs recent BTC ETF withdrawals near 4B over five weeks, framing this as a positioning reset rather than an exodus.76
  • Stablecoin structure is in focus rather than day‑to‑day flows: Tether’s supply is estimated around 184B dollars outstanding while its equity buffer has shrunk and backing has migrated into riskier assets, raising concern about systemic fragility if redemptions spike during drawdowns.8
  • On centralized venues, Binance is reported to hold about 45B in stablecoins, roughly 65% of all stablecoins on CEXs, underlining venue‑concentration risk.6

Top Headlines (What & Why it matters)

  • {Medium} CME Group will make its regulated crypto futures and options trade 24/7 on CME Globex starting 2026‑05‑29, with only a brief weekly maintenance window; this is a significant step toward aligning institutional derivatives access with spot‑market hours and could reshape liquidity patterns once live.97
  • {High} SEC Commissioner Hester Peirce’s speech “Cutting by Two Would Do” notes that the Division of Trading and Markets staff has issued a new FAQ on stablecoins, clarifying aspects of how certain tokenized cash instruments are treated under US securities/market‑structure rules.10
  • {High} Separate analysis pieces stress that Tether’s 184B‑dollar dominance, shrinking equity cushion, and riskier portfolio composition make it a potential pressure point for both crypto and US Treasury markets if confidence is tested during a next leg down in BTC.8
  • {Medium} A widely circulated institutional wrap highlights macro headwinds (US–Iran tensions, higher oil, hawkish Fed rhetoric) and continued BTC/ETH ETF outflows (≈8.5B since October) as core drivers of the current “risk‑off grind,” while still emphasizing 53B of cumulative ETF inflows as a structural positive.6
  • {Medium} Societe Generale’s SG‑FORGE is reported to have extended its EUR CoinVertible (EURCV) euro stablecoin to the XRP Ledger, broadening institutional RWA/payment rails beyond Ethereum and private chains.6
  • {Medium} Crypto lender Ledn has securitized roughly 5,400 BTC‑backed loans into a 188M‑dollar bond, the first of its kind in the ABS market, further entrenching bitcoin as collateral in traditional credit structures.6

Exchanges

  • {Medium} CME’s move to 24/7 trading for crypto futures and options (effective 2026‑05‑29, announced 2026‑02‑19) is the key exchange‑structure development; it may eventually shift some liquidity and hedging activity from offshore perps toward US‑regulated venues, especially around weekend macro/geo events.9
  • {Low} No material new listing/delisting, regional‑access, or outage announcements for Binance, Coinbase, OKX, Kraken, Bybit, Deribit or other major CEXs surfaced in the last 72h in reviewed sources.

Regulation/Law

  • {High} The SEC Trading & Markets FAQ referenced by Commissioner Peirce provides incremental clarity around stablecoins and tokenized cash instruments, and her remarks argue for a lighter‑touch framework that would allow more experimentation, which could influence how US platforms structure fiat‑backed tokens and settlement.10
  • {High} Policy commentary notes that White House talks on “stablecoin yield” and broader digital‑market‑structure legislation (often referred to as the CLARITY‑style bill) have reportedly made progress, with some observers putting high odds on a compromise bill in the coming months—potentially central for US‑domiciled stablecoin issuance and bank participation.116
  • {Medium} A legal brief from Lowenstein Sandler summarises remarks by SEC Chair Atkins previewing upcoming guidance on when crypto assets constitute investment contracts and when tokenized securities can rely on exemptions, signaling further interpretive moves rather than a complete regime overhaul in the near term.12

Research/White Papers

  • {Medium} A new laundering‑risk analysis from a blockchain‑intelligence provider finds hackers laundered about 4.4B dollars in stolen crypto during 2025, with Ethereum accounting for roughly 60% of losses; fund movement speed roughly doubled versus prior periods, with 42% of exploits using Tornado Cash and about half of stolen funds still unspent, underscoring continuing DeFi and mixer risk.13
  • {Medium} TRM Labs’ 2026 Crypto Crime Report (late‑January, slightly outside the 14‑day window but still widely cited) notes that the Bybit breach alone (≈1.46B dollars) represented 51% of all funds stolen in 2025 and that the top 10 incidents made up 81% of annual losses, pointing to fewer but more catastrophic, infrastructure‑level compromises—often attributed to DPRK‑linked actors.14

Security Incidents

  • {Medium} No major new protocol or centralized‑exchange hacks were identified in the last 24–48 hours in the sources reviewed; however, both the TRM and CryptoRank‑style datasets above suggest that the risk backdrop remains elevated, with attackers increasingly targeting core infrastructure and accelerating post‑exploit laundering.1314
  • {Low} One positive enforcement‑side headline notes that a hacker has reportedly returned about 21M dollars (≈320 BTC) to South Korean authorities in connection with a prior theft, illustrating that partial restitution is possible when law‑enforcement pressure and traceability align, but not materially changing the overall risk profile.6

What to Watch (next 24–72h)

  • {Medium} Daily BTC/ETH spot‑ETF flow prints after a multi‑week outflow streak—whether outflows slow, stabilize, or re‑accelerate will be crucial for assessing institutional risk appetite near current BTC levels in the high‑60k area.76
  • {High} Follow‑up detail and industry response to the SEC stablecoin FAQ and Peirce’s remarks, plus any complementary signals from Treasury or banking regulators, as these could influence which stablecoin models US platforms and banks deem viable.10
  • {Medium} Macro and liquidity signals highlighted by institutional notes—rate‑expectation shifts, dollar liquidity proxies, and oil/geopolitics—remain key for beta; several commentators frame them as primary drivers of whether BTC re‑tests the low‑60k region or resumes an attempt at 70k+.116
  • {Low} Ecosystem‑specific events on 2026‑02‑23–24 UTC: NEARCON 2026 in San Francisco, which may drive NEAR‑ecosystem announcements; the sunset of ThunderCore’s TT Wallet (scheduled 2026‑02‑23 07:00 UTC); and the Alchemy Chain testnet launch, all of which could create idiosyncratic flows in smaller caps rather than broad market moves.15

Confidence: High for macro/market structure items (CME, ETFs, derivatives, cap data); Medium for some regulatory and corporate items that currently rely on aggregated institutional digests rather than direct primary‑source documents. 1617181920212223242526272829303132333435363738394041424344454647484950515253

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Generated by

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  2. https://www.liputan6.com/crypto/read/6282264/harga-kripto-hari-ini-20-februari-2026-bitcoin-rp-113-miliar-solana-dan-dogecoin-kompak-menanjak ↩

  3. https://www.kucoin.com/news/articles/crypto-daily-market-report-february-20-2026 ↩

  4. https://coinalyze.net/?categories=1 ↩ ↩2

  5. https://en.macromicro.me/charts/49213/bitcoin-perpetual-futures-funding-rate ↩

  6. https://alphanode.global/insights/morning-crypto-wrap-20-february-2026/ ↩ ↩2 ↩3 ↩4 ↩5 ↩6 ↩7 ↩8 ↩9 ↩10

  7. https://finance.yahoo.com/topic/crypto/ ↩ ↩2 ↩3

  8. https://www.reuters.com/commentary/breakingviews/stablecoin-giant-is-cryptos-fragile-foundation-2026-02-20/ ↩ ↩2

  9. https://www.cmegroup.com/media-room/press-releases/2026/2/19/cme_group_to_launch247cryptocurrencyfuturesandoptionstradingonma.html ↩ ↩2

  10. https://www.sec.gov/newsroom/speeches-statements/peirce-stablecoin-021926-cutting-two-would-do ↩ ↩2 ↩3

  11. https://sergeytereshkin.com/publications/cryptocurrency-news-february-20-2026-regulatory-clarity-macroeconomics-institutional-flows ↩ ↩2

  12. https://www.lowenstein.com/news-insights/newsletters/crypto-brief-february-19-2026 ↩

  13. https://cryptorank.io/news/feed/eeaf1-hackers-double-laundering-crypto-exploits ↩ ↩2

  14. https://www.trmlabs.com/reports-and-whitepapers/2026-crypto-crime-report ↩ ↩2

  15. https://www.gate.com/crypto-calendar ↩

  16. https://rai.onlinelibrary.wiley.com/doi/10.1111/1467-8322.70055 ↩

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  26. https://arxiv.org/pdf/2210.00883.pdf ↩

  27. https://ora.ox.ac.uk/objects/uuid:9901f078-17d2-4f63-be8d-4e07fbe0f373/files/swd375z124 ↩

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  29. http://arxiv.org/pdf/2411.13586.pdf ↩

  30. https://arxiv.org/pdf/2411.06327.pdf ↩

  31. https://www.mdpi.com/2673-2688/2/4/30/pdf?version=1634877335 ↩

  32. https://arxiv.org/pdf/2302.12319.pdf ↩

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