With bitcoin dropping as traders turn bearish, CoinDesk’s Market’s Daily is back with the latest news roundup.

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This episode is sponsored by Nexo.io.

Today's stories:

First Mover: As Bitcoin Flips Bearish, Neither Biden Nor BlackRock Brightens Mood

There's a lot of long-term bulls in the bitcoin market. But in the short-term?  

What's hot

Proposed FinCEN crypto wallet rulemaking among those affected by U.S. President Joe Biden’s first-day order to freeze all rulemaking. (CoinDesk) 

BlackRock gives two funds go-ahead to invest in bitcoin futures (CoinDesk) 

Individuals starting to feel the bitcoin FOMO; “You never know until you play with it and figure it out” (Bloomberg)

Former U.S. Treasury official (and Ripple board member) Michael Barr will replace Brian Brooks as head of OCC. (CoinDesk)

Bond market signals suggest investors increasingly expect higher inflation with no commensurate response from the Federal Reserve to increase interest rates. (WSJ) 

Some McDonald’s restaurant owners attribute recent sales bump to recent distribution of stimulus checks. (WSJ)  

China’s three largest telecommunications operators ask New York Stock Exchange to reverse recent decision to delist them. (Nikkei Asia Review)

Alibaba shares rise 10% higher after popular billionaire and CEO Jack Ma resurfaces in video. (Asia Times Financial)

“This bubble will burst in due time, no matter how hard the Fed tries to support it,” asset-allocation guru Jeremy Grantham of GMO writes in web post. (GMO) 

“Decades of constant stimulus have left capitalism weaker, less dynamic and less fair, fueling populism,” Morgan Stanley Investment Management Chief Global Strategist Ruchir Sharma writes in op-ed. (FT) 

Token watch

Ether (ETH): Price rise to record high could just be first stop on way to $10.5K, Fundstrat analyst predicts. (CoinDesk)

XRP (XRP), Dogecoin (DOGE), Binance coin (BNB), USD coin (USDC): Pornhub, an adult entertainment website, now accepts payments in 16 cryptocurrencies. (CoinDesk) 

OKExChain (OKT): Native token for crypto exchange’s trading-focused blockchain hits $64 upon listing, implying $640M market value. (OKEx) 

Yearn.finance (YFI): DeFi yield-farming site considers minting $200M of new YFI tokens. (CoinDesk) 

Tron (TRX), Tether (USDT): Tether use on Tron passes Ethereum as low fees attract small transactions. (CoinDesk) 

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