Here’s what happened in crypto today

Today in crypto, Ether exchange-traded products (ETPs) have accumulated more inflows over the past trading week than Bitcoin for the first time this year, markets dropped following news of US President Donald Trump’s planned steel and aluminum tariffs, Michael Saylor’s “Strategy” has made its first Bitcoin purchase since rebranding from MicroStrategy after posting a Bitcoin chart late on Sunday evening, Feb. 9, hinting at an impending purchase.Ether ETPs outpace Bitcoin in crypto inflows for the first time in 2025Cryptocurrency exchange-traded products (ETPs) posted a fifth consecutive week of inflows, totaling $1.3 billion, with Ether-based ETPs seeing the largest inflows.Ether ETPs accumulated 95% more inflows than Bitcoin ETPs in the past trading week, recording a massive $793 million of inflows, CoinShares reported on Feb. 10.The spike in Ether ETP activity came as ETH tumbled below $2,700 on Feb. 6, leading to “significant buying-on-weakness,” CoinShares research director James Butterfill wrote.The surge marked the first time for Ether ETPs to outperform Bitcoin ETPs by inflows in 2025, with similar instances occurring in late 2024.In the past trading week, Bitcoin ETP inflows tumbled around 19% from inflows during the previous week, totaling $407 million.Despite losing to Ether in weekly inflows, Bitcoin continues to lead overall with year-to-date inflows of nearly $6 billion — 505% higher than Ether’s YTD total.Crypto drops on Trump’s planned steel and aluminum tariffsCrypto markets temporarily dropped on Feb. 9 after US President Donald Trump said he’d slap 25% tariffs on aluminum and steel while warning he’d launch reciprocal tariffs on countries levying import fees on US goods.Bitcoin (BTC) dropped to a low of $94,000 in response, following other cryptocurrencies in a sea of red. However, Bitcoin crossed back over $97,000 just two hours later alongside a wider market recovery, according to CoinMarketCap.Ether (ETH) also stumbled, reaching a low of $2,537 but has since climbed back to $2,645, nearly the same level it was before Trump announced his planned tariffs.The market drop is a repeat of what happened in early February, when Trump’s planned tariffs of 25% against major trading partners Canada and Mexico and 10% on China, crashed both the stock and crypto markets, which some analysts said caused crypto liquidations to reach up to $10 billion.The crypto market rebounded after Trump paused the planned tariffs on Mexico and Canada for 30 days on Feb. 3. However, he hasn’t ruled out reinstating them once the pause is up.Strategy’s Michael Saylor hints at impending BTC purchase following lapseMichael Saylor — co-founder of the newly rebranded "Strategy" — posted the chart signaling an impending Bitcoin (BTC) purchase by the company.The company took a one-week break from acquiring more Bitcoin after 12 consecutive weeks of Bitcoin accumulation.According to SaylorTracker, the company currently has 471,107 Bitcoin, valued at approximately $44.8 billion, and is sitting on unrealized gains of over $14 billion following a recent dip in BTC prices.Strategy also conducted its Q4 earnings call on Feb. 5 — the same day as its rebrand — and announced a $670 million net loss for the quarter.