Cryptocurrencies are trying to “stabilize” after the recent, sharp sell-off, while Bitcoin continues to consolidate between $65,000 and $70,000, closing a fourth consecutive week in the red. Even so, the market still lacks a decisive demand response that would allow Bitcoin to reclaim and hold above $70,000 for longer. cMichael Saylor suggested over the weekend that the company remains highly resilient to a potentially prolonged bear market. However, corporate demand for BTC is weakening. In January, 97.5% of purchases were attributed to Strategy (MSTR.US).

• On-chain data point to very limited inflows into Bitcoin and slowing activity in futures and options, with a clearly dominant demand for downside…