Monetary Policy

ChainCatcher News, The Financial Times of the UK, citing sources, reports that European Central Bank President Christine Lagarde is considering resigning early before the end of her term so that French President Macron and German Chancellor Merz can reach an agreement on her successor. The timing may coincide with the French presidential election in April 2027. A European Central Bank spokesperson later responded that Lagarde is "fully focused on her duties and has not made any decisions regarding the end of her term."

On February 18, 2026, from 11:00 to 11:15 (UTC), BTC dropped 0.60% within just 15 minutes, with the price fluctuating around $67,800. As the overall market sentiment turned more cautious, short-term volatility intensified, trading activity increased, and market attention continued to heat up. The main driver of this movement was macroeconomic pressure. The Federal Reserve's recent interest rate policies have fueled risk aversion in global financial markets, putting collective pressure on risk assets, and the crypto market also weakened accordingly. At the same time, the EU's latest compliance framework was introduced, and increased regulatory expectations added to market uncertainty.

ChainCatcher reports that, according to market sources, the European Central Bank plans to issue a digital euro by mid-2029, with a pilot program scheduled for 2027.

PANews February 18 News, according to Jintiao, European Central Bank Executive Board Member Cippoloni stated that the digital euro network will be ready for use by private payment systems before 2029.

Arthur Hayes warns that the recent divergence between Bitcoin and Nasdaq 100 tech stocks signals a potential AI-driven credit crisis, prompting central banks to resume large-scale money printing. He argues Bitcoin acts as a liquidity indicator and predicts consumer debt defaults if 20% of US knowledge workers lose jobs, resulting in significant credit losses. Hayes anticipates regional banks will face immediate pressure, leading to a credit freeze and a Fed response that could push Bitcoin to new highs. His company may also invest in altcoins Zcash and Hyperliquid when the Fed changes its policy.

Universa Investments founder Mark Spitznagel warns that the S&P 500 could surge to 8,000 points but then face a sharp crash. He points out that the current market is nearing the end of the bubble and advises investors to prepare for a potential 80% correction while remaining rational and not being swayed by market sentiment.

Investment bank TD Cowen指出, filling the Democratic vacancies at the SEC and CFTC could accelerate negotiations on the U.S. Crypto Market Structure Bill. The main obstacle is the political controversy over conflict of interest rules, with Democrats wanting to prevent senior officials and their families from participating in certain digital asset transactions, especially those involving Trump's crypto projects. Both parties need to reach a compromise to advance the bill.

ChainCatcher News, according to Jinshi reports, CME "Federal Reserve Watch" shows that there is a 92.1% probability that the Federal Reserve will keep interest rates unchanged until March, and a 7.9% probability of a 25 basis point rate cut. By April, the probability of a total 25 basis point rate cut is 23.6%, the probability of keeping rates unchanged is 75%, and the probability of a total 50 basis point rate cut is 1.5%. By June, the probability of a total 25 basis point rate cut is 50%.

On February 17, 2026, from 17:30 to 17:45 (UTC), BTC experienced a sharp decline of -0.71% within just 15 minutes, with significant volatility attracting market attention. In terms of market performance, the price showed a rapid downward movement, reflecting short-term pressure and a temporary weakening of risk appetite. Trading volume also increased simultaneously, indicating intense disagreement between bullish and bearish funds during this window. The main driver of this anomaly was a sudden large-scale BTC sell-off event on a major mainstream trading platform. Due to a mistaken Bitcoin airdrop announcement by a leading platform in South Korea, the BTC/KRW trading pair on the platform briefly plummeted to a low of 17.

The Bank of Russia plans to reassess its opposition to stablecoins and conduct a feasibility test this year due to rising demand. Amidst global stablecoin adoption, Russia may develop its own ruble-pegged stablecoin alongside its digital ruble initiative.

Bundesbank backs euro CBDC and stablecoins to boost payment independence across Europe. Nagel warns dollar stablecoins could weaken EU monetary policy and sovereignty. US stablecoin law and CLARITY Act talks shape global digital asset regulation debate. Joachim Nagel, president of

Joachim Nagel advocates for euro-pegged stablecoins and a retail digital euro to enhance EU autonomy from U.S. dollar systems. He emphasizes regulatory frameworks for financial stability while addressing ongoing discussions on digital currency design.

By the end of 2025, China's broad money supply (M2) reached 340.29 trillion RMB, a surge of 141.64 trillion compared to 2019. Analysis indicates that the main sources include credit expansion, government debt monetization, and financial asset purchases. Former Vice President of the Bank of China Wang Yongli criticized cryptocurrencies like Bitcoin as a form of currency anchoring, considering it a step backward, and emphasized that modern currencies no longer rely on the gold standard, reflecting the accelerated devaluation of the global fiat currency system.

Bitcoin's long-term holders show weaker accumulation post-February dip, indicating pressure and loss realization. Despite macro uncertainties, some analysts believe support at $60,000 may hold, citing strong buying flows and orderly market conditions.

ChainCatcher News, according to Jinshi reports, European Central Bank Executive Board member Nagel stated that euro-pegged stablecoins can facilitate inexpensive international transfers and complement the European Central Bank's efforts to promote the digital euro. He pointed out that Europe must become more independent in its payment systems and emphasized the importance of creating a digital euro. Nagel mentioned that euro-pegged stablecoins can be used by individuals and businesses for low-cost cross-border payments, indicating that the ECB's attitude towards this area is becoming more open.

Gate News bot message, Fed Governor Christopher Waller states post-election crypto euphoria is fading. Chinese exchanges tighten trading rules amid metals speculation surge. Senators ask Bessent to probe $500M UAE stake in Trump-linked $WLFI.

Russia's cryptocurrency market is booming at $648 million daily, highlighting extensive adoption but limited oversight. New regulations aim to legalize trades, potentially reclaiming $15 billion in fees and enhancing local exchange profits.

Cathie Wood suggests that Trump may eliminate capital gains taxes on small Bitcoin transactions in 2023, linking this potential policy shift to the upcoming midterm elections and the political importance of crypto voters. She also indicates possible future purchases for the U.S. Bitcoin reserve, emphasizing the strategic role of crypto in Trump's economic agenda.

The Bank of Russia plans to reassess its opposition to stablecoins and conduct a feasibility test this year due to rising demand. Amidst global stablecoin adoption, Russia may develop its own ruble-pegged stablecoin alongside its digital ruble initiative.

_Treasury Secretary Scott Bessent says the Trump administration will prioritize digital assets under strict U.S. regulatory and AML standards._ Trump Treasury Signals Major Shift on Crypto Regulation as Treasury Secretary Scott Bessent outlined a new direction for digital assets policy. He