Crypto Gems Weekly: Bitcoin Holds $65K as Tether Burns $3.5B, Is the Deleveraging Floor Near?

Crypto markets remained in a high-volatility deleveraging phase during the week of February 6–13, 2026. While Bitcoin (BTC) stabilized in the mid-$60,000s, structural shifts dominated the headlines: Tether executed a record $3.5 billion USDT burn, and global regulators tightened the noose on offshore stablecoins. With the Fear & Greed Index hitting historic lows at 5–10, institutional giants like MicroStrategy reported staggering $12.6 billion paper losses, signaling a brutal but necessary reset of the Digital Gold narrative.