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Major coins traded red on Thursday late evening, as the market capitalization dropped by 2.69% in the last 24 hours to $1.08 trillion. Cryptocurrency Gains (+/-) Price (Recorded 8 p.m. EST) Bitcoin -3.64% $23,736 Ethereum -1.88% $1,657 Dogecoin -3.76% $0.086

What Happened: The largest cryptocurrency by market value Bitcoin BTC/USD took a sharp turn Thursday, dropping from $25,000 to a low of $23,736.

Ethereum ETH/USD followed in similar footsteps to Bitcoin, experiencing a meteoric rise to surpass $1,700 for two consecutive days before experiencing a pullback. ETH was changing hands at $1,657 down 1.88% in the last 24 hours.

Dogecoin DOGE/USD was down 3.76% in the last 24 hours, trading at $0.086.

U.S. equity markets reacted negatively to the latest PPI data, with the tech-heavy Nasdaq Composite dropping by 1.78%, and the S&P 500 down by 1.38%.

See More: Best Crypto Day Trading Strategies

Bitcoin saw a surge in value on Thursday, but investors soon began to reconsider their decision in light of increasing concerns about inflation, and the Federal Reserve monetary policy.

In top news, a New York judge presiding over the criminal fraud case against Sam Bankman-Fried has issued a warning that he may revoke the bond if Bankman-Fried continues to defy his bail conditions. Decentralized finance (DeFi) protocol Platypus Finance was recently hit with a flash-loan attack, leading to a potential loss of $8.5 million.

Analyst Notes: A major move in Bitcoin is upon us. There has been a major wave of institutional money coming into the exchanges over the past week, $1.6 billion according to data from Lookonchain. A lot of that money is leaving stablecoins, including Circle-issued USD coin. The fate of stablecoins will be decided in the near future, but many are not expecting regulators to crush the entire space. Everyday that passes that we dont see Bitcoin break, sellers become less patient. Bitcoin is showing strong resilience given the broader weakness across most risky assets, said Edward Moya, senior market analyst at Oanda.

Crypto analyst Michal van de Poppe is predicting an exciting period ahead with plenty of volatility and gains to be had. He believes that the markets will consolidate for a short period of time, but that the period of March – June will be "a party".

Probably markets will consolidate for a bit, but March – June will be a party.

Enough volatility & enough gains to make. Michal van de Poppe (@CryptoMichNL) February 16, 2023

According to Santiment's market tracker, a major driver of Bitcoin's recent surge above $25,000 for the first time in 8 months has been the accumulation of over $2.74 billion in Tether USDT/USD by whales and sharks in the past 10 weeks.

Identifying reasons for #Bitcoin being able to surge above $25k for the first time in 8 months, we can start with key #Tether shark & whale buying power that was increasing since early December. Key stakeholders continue loading up for more buys. https://t.co/zknJcDgf9z pic.twitter.com/o8hbxQyGcv Santiment (@santimentfeed) February 16, 2023

Pseudonymous analyst Pentoshi believes the strength of the daily Bitcoin candle is a positive sign for the cryptocurrency, predicting a potential rally to as high as $32,000.

This candle for BTC is just: Wow. As stated January 1st, I think the high range for this year is $28,000-$32,000. Have a feeling if we get there thats going to be a super tough spot. This thing is truly wild lol. Looking at it in complete awe.

This candle for $BTC is just

Wow

As stated Jan 1 I think the high range for this year is 28-32k. Have a feeling if we get there thats going to be a super tough spot pic.twitter.com/jAFKSsxd0T Pentoshi (@Pentosh1) February 15, 2023

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UK

UK looking at Denmark model to cut illegal migration

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UK looking at Denmark model to cut illegal migration

The Home Office is looking at what Denmark is doing to cut illegal migration, Sky News understands.

Last month, Home Secretary Shabana Mahmood dispatched officials to the Nordic nation to study its border control and asylum policies, which are considered some of the toughest in Europe.

In particular, officials are understood to be looking at Denmark’s tighter rules on family reunion and restricting most refugees to a temporary stay in the country.

Ms Mahmood will announce a major shake-up of the UK’s immigration system later this month, PA is reporting.

Labour MPs are said to be split on the move.

Some, in so-called Red Wall seats which are seen as vulnerable to challenge from Reform UK, want ministers to go further in the direction Denmark has taken.

But others believe the policies will estrange progressive voters and push the Labour Party too far to the right.

What are Denmark’s migration rules?

Denmark has adopted increasingly restrictive rules in order to deal with migration over the last few years.

In Denmark, most asylum or refugee statuses are temporary. Residency can be revoked once a country is deemed safe.

In order to achieve settlement, asylum seekers are required to be in full-time employment, and the length of time it takes to acquire those rights has been extended.

Denmark also has tougher rules on family reunification – both the sponsor and their partner are required to be at least 24 years old, which the Danish government says is designed to prevent forced marriages.

The sponsor must also not have claimed welfare for three years and must provide a financial guarantee for their partner. Both must also pass a Danish language test.

In 2018, Denmark introduced what it called a ghetto package, a controversial plan to radically alter some residential areas, including by demolishing social housing. Areas with over 1,000 residents were defined as ghettos if more than 50% were “immigrants and their descendants from non-Western countries”.

In 2021, the left of centre government passed a law that allowed refugees arriving on Danish soil to be moved to asylum centres in a partner country – and subsequently agreed with Rwanda to explore setting up a program, although that has been put on hold.

It comes as the government continues to struggle to get immigration under control, with rising numbers of small boat crossings in the Channel over the last few months and a migrant, deported under the UK’s returns deal with France, re-entering the country.

Some 648 people crossed the Channel to Britain in nine boats on Friday, according to Home Office figures, bringing the total for the year to 38,223.

Read more:
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Culture secretary defended in ‘cronyism’ row

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Have billions been ‘wasted’ on asylum hotels?

Ms Mahmood wants deterrents in place to stop migrants seeking to enter the country via unauthorised routes.

She also wants to make it easier to remove those who are found to have no right to stay in the UK.

Sources told the PA news agency she was eager to meet her Danish counterpart, Rasmus Stoklund, the country’s immigration minister, at the earliest possible convenience.

Home Secretary Shabana Mahmood. Pic: PA
Image:
Home Secretary Shabana Mahmood. Pic: PA

Speaking on BBC Radio 4, Mr Stoklund likened Danish society to “the hobbits in The Lord Of The Rings” and said people coming to the country who do not contribute positively would not be welcome.

Mr Stoklund said: “We are a small country. We live peacefully and quietly with each other. I guess you could compare us to the hobbits in The Lord Of The Rings.”

“We expect people who come here to participate and contribute positively, and if they don’t they aren’t welcome.”

Read more:
X and the far right: How Elon Musk compares migrants to Lord Of The Rings characters

The split in Labour was apparent from public comments by MPs today.

Stoke-on-Trent Central Labour MP Gareth Snell told Radio 4’s Today programme that any change bringing “fairness” to an asylum system that his constituents “don’t trust” was “worth exploring”.

But Nottingham East MP Nadia Whittome, who is a member of the party’s Socialist Campaign Group caucus, said: “I think these are policies of the far right. I don’t think anyone wants to see a Labour government flirting with them.”

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Sports

Poll: Mendoza top vote-getter as NFL draft’s QB1

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Poll: Mendoza top vote-getter as NFL draft's QB1

The volatility and unpredictability of the 2025 college football season has rippled through the group of draft-eligible quarterbacks.

ESPN repolled 25 NFL scouts and executives about who will be the first quarterback taken in the 2026 NFL draft, with the results drastically different from six weeks ago.

In the latest poll, Indiana‘s Fernando Mendoza was the top vote-getter with 13 votes, putting him ahead of Oregon‘s Dante Moore (6) and Alabama‘s Ty Simpson (3). Notably, none of those quarterbacks received a vote in the first poll, and all have eligibility remaining.

The other three quarterbacks receiving votes were Oklahoma‘s John Mateer (1), Cincinnati‘s Brendan Sorsby (1) and South Carolina‘s LaNorris Sellers (1). Only Sellers and Mateer had votes in the first poll.

“It’s not a stellar class,” one scout told ESPN. “If you add the maybes [who have eligibility and could leave school], now it gets interesting. The top is better than last year’s class, for sure.”

The top of this year’s crop has flipped from Sept. 20, when seven different quarterbacks received votes, with Sellers (8) edging out LSU‘s Garrett Nussmeier (7). Both players and their teams have struggled this season. Others receiving votes in the first QB1 poll were Miami‘s Carson Beck (3), Mateer (3), Penn State‘s Drew Allar (2), Arizona State‘s Sam Leavitt (1) and TexasArch Manning (1).

The sentiment regarding the class has soured a bit since the initial polling. Along with the dip in play from Sellers and Nussmeier, Allar suffered a season-ending injury and Manning hasn’t resembled anything close to what his family and recruiting pedigrees projected.

While Mendoza is the top vote-getter, he has yet to establish himself as a no-brainer No. 1 overall pick. He is trending that way, but there is not yet conviction behind those projections.

Mendoza transferred from Cal and has taken a leap under coach Curt Cignetti and the tutelage of offensive coordinator Mike Shanahan and quarterbacks coach Chandler Whitmer. His completion percentage is 72.3%, up from 68.7%, and he has thrown 25 touchdowns, nine more than last season at Cal. He has also rushed for four touchdowns and is averaging 9.5 yards per attempt, up from 7.8.

What do scouts like? They start with the basics of him being 6-foot-5 and 225 pounds. He idolizes Tom Brady, which is viewed as a strong North Star for a prospect.

“He has ‘wow’ throws and playmaking passer ability,” one scout told ESPN. “He can anticipate post-snap.”

Added another: “He’s decisive, and he sees everything well. He’s got accuracy down the field and is very tough in the pocket.”

There was a play against Iowa where Mendoza hung in the pocket and got decked by a Hawkeyes linebacker while delivering a perfect ball to a receiver in tight coverage.

Moore’s emergence has been sudden. He has started 13 games, including five at UCLA in 2023 before backing up Dillon Gabriel at Oregon last season. A redshirt sophomore who entered college as ESPN’s No. 2 overall player, Moore is 6-3 and 206 pounds. He attempted just eight passes last season but has maximized his starting role in 2025, with 19 touchdowns, a 71.4% completion percentage and 1,772 passing yards.

Simpson didn’t start a game until this season, which has led to speculation in NFL circles that he will return to college. (Quarterbacks with under 25 starts don’t have a consistent track record of NFL success.) Simpson has soared onto radars with 20 touchdowns and just one interception. He has completed 67.8% of his passes and thrown for 2,184 yards.

Sorsby might be the biggest surprise. While he struggled in high-wattage spots against Nebraska and Utah, he has clearly progressed.

One scout summed him up this way: “He’s big, tough, athletic and smart. He’s a leader and can make off-schedule plays and change arm angles. He’s got the ‘It.’ I think he’s very gifted.”

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Technology

Week in review: The Nasdaq’s worst week since April, three trades, and earnings

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Week in review: The Nasdaq's worst week since April, three trades, and earnings

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