PA Daily News | Bitcoin plunges 15.48% in a single day, marking the largest drop since the FTX crash; MSTR reports a net loss of $12.4 billion in Q4 2025.

Today's top news highlights:

Bitcoin plunged 15.48% in a single day, marking its biggest single-day drop since the FTX crash.

MSTR reported a net loss of $12.4 billion in Q4 2025, causing its stock price to plummet 17% that day.

Saylor's unrealized losses exceed $10.1 billion, and Tom Lee's unrealized losses exceed $8.65 billion.

Gemini will cease operations in the UK, EU, and Australia , and will lay off up to 25% of its staff.

Strategy CEO: Bitcoin needs to fall to $8,000 and remain there for years before threatening its debt repayment.

A partner at Pantera Capital speculated that the recent sell-off in the crypto market was triggered by large Asian entities.

Analysis: The rise in Bitcoin leveraged positions indicates that bargain hunting continues, but the price bottom may not yet have appeared.

Vitalik: Calls for genuine innovation rather than replication, emphasizing consistency between words and deeds in the "connection with Ethereum."

Macro & Regulatory

The number of Americans filing for initial jobless claims for the week ending January 31 was 231,000, compared to an expected 212,000.

According to Jinshi News, the number of initial jobless claims in the United States for the week ending January 31 was 231,000, compared with an expected 212,000 and a previous value of 209,000.

US Treasury Secretary condemns crypto activists who resist the crypto market structure bill.

According to Coindesk, U.S. Treasury Secretary Scott Bessant made strongly worded remarks at a hearing, criticizing cryptocurrency industry figures who are obstructing the long-awaited Digital Asset Market Transparency Act. Testifying before the Senate Banking Committee, Bessant said, "There seems to be a group of nihilists in the industry who would rather have no regulation than accept this very effective regulation." Bessant stated that market participants unwilling to accept strict regulation should "move to El Salvador."

The Korea Fair Trade Commission has launched an investigation into Bithumb for allegedly making exaggerated claims, including those regarding its highest liquidity.

According to Yonhap News Agency, the Korea Fair Trade Commission (FTC) has launched an investigation into virtual asset exchange Bithumb for allegedly making exaggerated claims. The FTC has dispatched investigators to Bithumb's headquarters in Gangnam District to obtain relevant data. The FTC is reportedly investigating whether Bithumb's claim in a press release last year that it possessed "the highest liquidity among domestic virtual asset exchanges" was true. Currently, Upbit holds the top market share in this category. The FTC is also investigating allegations that Bithumb altered payment terms during a promotional campaign held at the end of last year. This promotion aimed to subsidize new users connecting to its API (Application Programming Interface).

Project Updates

Gemini plans to lay off up to 25% of its workforce, affecting approximately 200 positions.

According to Bloomberg, cryptocurrency exchange Gemini announced plans to lay off up to 25% of its staff after announcing a phased closure of its operations in the UK, EU, and Australia , citing cost reductions and improved profitability as the reasons. The layoffs will affect up to 200 positions across its global workforce, including those in the US and Singapore. Gemini co-founders Tyler and Cameron Winklevoss stated, “These overseas markets have proven difficult to succeed in for various reasons, and we found ourselves struggling to cope with the complexities of our organization and operations, which increased our cost structure and slowed us down.”

CZ: Currently cooperating with multiple countries to issue local currency stablecoins

Binance founder CZ stated on the X platform that they are collaborating with more countries to promote the issuance of their own local stablecoins, adding that "every fiat currency should be represented on-chain."

MSTR reported a net loss of $12.4 billion in Q4 2025, causing its stock price to plummet 17% that day.

According to Coindesk, Strategy (MSTR) reported a net loss of $12.4 billion for the fourth quarter of 2025, attributed to the plunge in Bitcoin prices from approximately $120,000 on October 1st to around $89,000 by the end of the year (currently down to $61,000). The company's Bitcoin yield for fiscal year 2025 was 22.8%. As of February 1, 2026, it held 713,502 Bitcoins, with a total value of $54.26 billion, or $76,052 per Bitcoin. The company had $2.25 billion in cash reserves at the end of the year, sufficient to cover 2.5 years of dividends on its preferred stock and interest on its debt. Strategy's stock closed down 17% that day, marking one of its worst performances in recent years. The stock recovered slightly in after-hours trading.

Later reports indicated that the Strategy CEO stated that Bitcoin would need to fall to $8,000 and remain there for several years before threatening its debt repayment .

Metaplanet CEO: We will continue to develop our Bitcoin business, expand revenue, and prepare for further growth.

Simon Gerovich, CEO of MetaPlanet, a Japanese-listed Bitcoin treasury company, stated on the X platform, "Given the recent stock price volatility, the current market environment presents challenges for shareholders. However, MetaPlanet's strategy remains unchanged: to continue steadily developing its Bitcoin business, expanding revenue, and preparing for the next phase of growth."

Bitwise filed its S-1 registration document with the U.S. Securities and Exchange Commission (SEC).

According to official documents, Bitwise has formally submitted its S-1 registration statement to the U.S. Securities and Exchange Commission (SEC) to apply for the launch of the Bitwise Uniswap ETF. The product is managed by Bitwise Investment Advisers, with Coinbase Custody as the custodian. Currently, it does not participate in staking, but this may be introduced in the future through amendments to the registration document.

Aster: The burning of tokens from the fourth and fifth phases of the buyback has been completed, totaling 98.4 million ASTER tokens.

Aster announced on its X platform that it executed a 100% burn of the tokens from the fourth and fifth phases of its buyback program on February 5th at 21:00 (Beijing time). A total of 98,400,345.46 ASTER tokens were permanently burned, with 53,920,060.26 tokens burned in the fourth phase and 44,480,285.20 tokens burned in the fifth phase. The relevant burn transactions have been verified and publicized via BscScan. The announcement also stated that the sixth phase of the buyback program is still ongoing, and users can track the buyback progress through the provided on-chain address.

Polymarket and Circle have partnered to improve stablecoin infrastructure in prediction markets.

According to market sources, Polymarket has partnered with Circle to improve stablecoin infrastructure in prediction markets.

Bullish reported a fourth-quarter loss of $563.6 million, and its stock price fell 5%.

According to CoinDesk, cryptocurrency exchange Bullish reported a net loss of $563.6 million for the fourth quarter of 2025, compared to a net profit of $158.5 million in the same period last year. The company reported a loss of $3.73 per share, primarily due to losses from the remeasurement of non-cash digital assets. Following the earnings release, its stock price fell 5% in pre-market trading. The report showed that the platform's spot trading volume reached $64.3 billion in the quarter. The company launched its spot trading business in the US last September, simultaneously introducing options trading, with options trading volume reaching $9 billion in the quarter. Bullish is scheduled to list on the New York Stock Exchange via direct listing in August 2025; previously, it was a privately held exchange focused on institutional clients.

Binance Futures will launch multiple USDT-based perpetual equity contracts.

According to the official announcement, Binance Futures will launch perpetual contracts at the following times: February 9, 2026, 22:30 (UTC+8): MSTRUSDT stock perpetual contract, with a maximum leverage of 10x; February 9, 2026, 22:40 (UTC+8): AMZNUSDT stock perpetual contract, with a maximum leverage of 10x; February 9, 2026, 22:50 (UTC+8): CRCLUSDT stock perpetual contract, with a maximum leverage of 10x; February 9, 2026, 23:00 (UTC+8): COINUSDT stock perpetual contract, with a maximum leverage of 10x; February 9, 2026, 23:10 (UTC+8): PLTRUSDT stock perpetual contract, with a maximum leverage of 10x.

Binance Alpha will list Rainbow (RNBW)

According to an official announcement, Binance Alpha will list Rainbow (RNBW) on February 6th. Eligible users can claim the airdrop using Binance Alpha Points on the Alpha event page after trading opens on Alpha. Further details will be announced separately.

Later news from Binance: The threshold for the Rainbow (RNBW) airdrop is 241 Binance Alpha Points .

Binance Alpha airdrop starts today at 17:00, with a minimum spend of 240 points.

According to the official announcement, users holding at least 240 Binance Alpha Points can claim their Binance Alpha airdrop on a first-come, first-served basis starting at 17:00 (UTC+8) today, until the airdrop pool is fully distributed or the airdrop event ends.

Coinbase launches spot trading for Hyperliquid (HYPE) and Rainbow (RNBW).

According to Coinbase's announcement, spot trading of Hyperliquid (HYPE) and Rainbow (RNBW) has been launched.

ZRO is now available on Robinhood.

Analysis & Opinions

CryptoQuant analyst: Despite persistent selling pressure, stablecoin inflows to exchanges have doubled to $98 billion.

CryptoQuant analyst Darkfost analyzed that as Bitcoin's price has gradually corrected to around 50% from its all-time high in October, the amount of stablecoins flowing into exchanges is increasing. At the end of December 2025, the weekly average inflow of stablecoins (7-day moving average) fell to $51 billion, reflecting insufficient demand faced for several months. Now, inflows have reached $98 billion, more than doubling and just surpassing the 90-day average of $89 billion. This indicates that the pace of fund deployment has accelerated in recent weeks, and the market clearly needs funds. Although the market selling pressure remains excessive and has not yet been fully digested, this is still a positive sign as it indicates that investor interest is gradually recovering.

Analysis: Weak US employment data coupled with a sell-off in tech stocks caused BTC to fall below the 200-week moving average, potentially signaling the start of a deep bear market.

According to Cointelegraph, data shows that Bitcoin has fallen below its 200-week moving average (EMA), potentially entering a deep bear market. Nick Ruck, director of VRG Research, stated that the Bitcoin decline occurred against a backdrop of heightened risk aversion, stemming from weak signals in the US job market, including rising unemployment claims, raising doubts about a sustained economic recovery and the Federal Reserve's potential cautious approach to aggressive interest rate cuts. Jeff Ko, chief analyst at CoinEx Research, pointed out that Bitcoin's more than 20% pullback within a week coincided with a sell-off in US tech stocks, as investors reassessed Bitcoin's failure to serve as a safe haven compared to gold. Overall, market sentiment has weakened significantly in the short term, but institutional and long-term investors are still observing the impact of changes in the macroeconomic and liquidity environment on crypto assets.

A partner at Pantera Capital speculated that the recent sell-off in the crypto market was triggered by large Asian entities.

Franklin Bi, general partner at Pantera Capital, speculated on the X platform that the recent massive sell-off in the crypto market was not orchestrated by a cryptocurrency-focused trading firm, but rather by a large Asian entity outside the crypto sphere. This entity had limited crypto trading counterparties, thus remaining unnoticed by the crypto community. Bi speculated that the entity engaged in leveraged trading and market making on Binance → closed out its yen carry trades → faced an extreme liquidity crisis → received a grace period of approximately 90 days → attempted to recover losses through gold/silver trading but failed → was forced to liquidate its positions this week.

Stifel: Bitcoin price may fall to around $38,000

According to CoinDesk, analysts at financial services firm Stifel predict that Bitcoin's price could fall to around $38,000. This prediction is based on a long-term trend line connecting the lows of Bitcoin's major bear markets since 2010, which currently points to around $38,000. The analyst team argues in their report that the relationship between Bitcoin and the US dollar and global money supply has reversed since 2025. Previously, Bitcoin typically rose when the dollar weakened and global liquidity increased, exhibiting an "inverse relationship" with fiat currencies; however, its price movement has now shifted to a positive correlation with the dollar and an increasing correlation with the Nasdaq index and growth stocks. The report points out that although the Federal Reserve cut interest rates in its last three meetings in 2025, its stance remains hawkish, and rising borrowing costs for technology companies could lead to tighter financial conditions, further pressuring the Bitcoin market.

Vitalik: Calls for genuine innovation rather than replication, emphasizing consistency between words and deeds in the "connection with Ethereum."

Ethereum co-founder Vitalik Buterin stated that the current proliferation of new EVM chains simply replicates the established template of "EVM chain + a one-week delayed optimistic cross-chain bridge," or constructs so-called "L1-like chains" with no bridging relationship to Ethereum. This low-level duplication is consuming the industry's innovation potential. He urged developers to shift towards building solutions with genuine technological differences, such as privacy protection, application-specific execution layers, or ultra-low latency networks, rather than continuing to create technological "copycats." Furthermore, Buterin emphasized that in terms of "connection to Ethereum," outward appearance should be consistent with inner substance—that is, "consistency between appearance and reality." He clearly distinguished two valuable technological paths: first, Rollup application chains that deeply rely on the Ethereum mainnet for settlement and data verification, truly achieving composability; and second, verifiable on-chain systems that, while lacking decentralization and trustlessness, provide algorithmic transparency to traditional institutions through on-chain validity proofs (such as STARK proofs). Its core argument can be summarized as follows: the industry should return to creating fundamental technological value, while ensuring that the "Ethereum niche" claimed by a project can truly reflect its underlying technological dependencies.

DWF Partner: The crypto market may be nearing its bottom, with M&A activity very active behind the scenes.

According to Andrei Grachev, a partner at DWF Labs, the crypto market may be nearing its bottom, with an expected volatility of around 15% around current prices. He believes that while professional investors are still actively deploying funds into real-world assets and projects with "grand visions," direct spot market inflows have almost stagnated because cash holders can currently trade on extremely favorable terms. Meanwhile, M&A activity is very active behind the scenes, with many revenue-generating companies planning IPOs. He predicts that most altcoin projects will decline after the bear market, while only projects that are truly doing business and driving growth will rise with the overall market growth. Retail funds are currently concentrated on speculative platforms like Pump Fun, but when the market recovers and prices rise, they will return to the market, chasing the assets currently held by mainstream funds and newly emerging "grand vision" tokens. His core points can be summarized as follows: the market is nearing its bottom; venture capital is actively investing in infrastructure, RWA, and other areas; cash is king, and high-quality assets can be acquired at a significant discount; long-term industry growth is assured, the core issue is survival rate.

Deutsche Bank: Bitcoin's recent decline reflects a loss of market confidence, not a collapse of market structure.

According to a CoinDesk report, Deutsche Bank stated in a report that Bitcoin's recent decline reflects a loss of market confidence rather than a collapse of market structure. The report identifies three main factors contributing to the decline: continued institutional outflows, decoupling from traditional market anchors, and weakening regulatory momentum. Nevertheless, the report argues that the current phase represents a market reset, testing whether Bitcoin can transcend belief-driven rallies and regain support from regulators and institutional capital. The report shows that since peaking in October 2025, Bitcoin has fallen by over 40%, marking four consecutive months of declines, while gold has risen by over 60% and the stock market has rebounded, highlighting a significant weakening of the correlation between Bitcoin and gold and stocks. Institutional selling pressure is a direct source of stress; the US spot Bitcoin ETF has recorded net outflows since October of last year, with over $7 billion flowing out in November, and approximately $2 billion and $3 billion flowing out in December and January, respectively. The resulting contraction in trading volume has made prices more volatile. The slow pace of regulatory progress has also exacerbated market volatility. The bipartisan Digital Asset Markets Clarity Act stalled in Congress due to disputes over stablecoin provisions, causing Bitcoin's 30-day volatility to rise above 40%, approaching levels seen at the end of October last year. Furthermore, market sentiment indicators suggest that retail interest is cooling.

Wintermute CEO: The public blockchain debate is meaningless; the token economic model is almost defunct.

Wintermute CEO Evgeny Gaevoy pointed out the multiple predicaments facing the current crypto industry. He believes the public chain debate ("Solana vs Ethereum vs [other chain]") is meaningless because no breakthrough applications have yet emerged on any chain. Stablecoins are merely a niche "victory," but from a macro perspective, nothing has changed; their essence remains the replacement of one centralized intermediary with another. The scalability of blockchain applications is generally questionable, especially perpetual exchanges, which struggle to achieve traditional financial-grade scale. The fundamental bottleneck lies in the design of the risk engine, not simply throughput. He further criticizes the industry's distorted values: Bitcoin's original vision has been obscured by the price narrative, and the cyberpunk trend of "institutional entry" has overwhelmed the cypherpunk spirit. Only a very few opinion leaders, such as Vitalik, are still focusing on the essential issues. The token economic model is almost ineffective; mechanisms such as buybacks, lock-ups, and airdrops are all in trouble and need to be restarted from the underlying logic. Despite pointing out numerous shortcomings, Gaevoy remains cautiously optimistic about the industry's long-term development, believing that the market has moved beyond the blind frenzy of the "Trump-driven rally," speculators will gradually exit, and true believers may usher in a healthier environment.

Analysis: Bitcoin's current price is about 20% lower than its average production cost, and miners are entering a "surrender" phase.

According to Coindesk, Checkonchain data shows that Bitcoin's current price of around $70,000 is below its estimated average production cost of around $87,000, a difference of about 20%. Historically, Bitcoin prices consistently falling below production costs have often been a characteristic of bear markets, with similar situations occurring in the market cycles of 2019 and 2022. After reaching a historical peak of approximately 1.1 ZH/s last October, the network hashrate fell by about 20% due to the shutdown of less efficient mines, recently recovering to 913 EH/s, showing initial signs of stabilization. However, at the current price, many miners are still operating at a loss. To maintain daily operations, pay energy costs, and repay debts, miners are continuously selling their Bitcoin reserves; this "miner capitulation" phenomenon highlights the ongoing financial pressure the industry faces.

Analysis: The rise in Bitcoin leveraged positions indicates that bargain hunting continues, but the price bottom may not yet have appeared.

According to CoinDesk, Bitcoin margin long positions on cryptocurrency exchange Bitfinex have increased to approximately 77,100 BTC, the highest level since December 2023. This position has grown by 64% in the past six months, while Bitcoin's price has fallen nearly 50% from its all-time high last October. Historical data shows that Bitfinex margin long positions are often considered a contrarian indicator. These positions tend to expand during periods of market pressure and contract during periods of price increases. At past cyclical lows, such as the FTX crash in November 2022, the "arbitrage trade" liquidation in August 2024, and the "tariff shock" in April 2025, margin long positions remained near their peak levels before the market bottomed out. Analysts suggest that the current continued accumulation of margin long positions may indicate that despite large holders continuously buying during the decline, Bitcoin's price has not yet established a clear bottom. Bitcoin's price has now fallen for five consecutive months, yet the trend of increasing long positions continues.

Investment and Financing

Tether announces $100 million strategic equity investment in Anchorage Digital.

According to its official blog, Tether Investments, Tether's investment arm, announced a $100 million strategic equity investment in digital asset platform Anchorage Digital. This acquisition values ​​the company at $4.2 billion. Anchorage Digital is the first federally regulated digital asset bank in the United States, providing custody, staking, settlement, and stablecoin issuance services to institutions worldwide. Both parties stated that they will jointly support the development of regulated, institutional-grade infrastructure to promote the stability and inclusivity of the digital asset ecosystem.

Tether has invested $150 million to acquire a 12% stake in Gold.com, expanding the issuance of its gold token XAUT.

According to Coindesk, Tether has acquired a minority stake in Gold.com (GOLD) for $150 million, giving it a 12% ownership. This further strengthens its presence in the gold market. Gold.com is a platform that offers trading in physical and tokenized gold. As part of the partnership, Tether will integrate its gold-backed token, XAUT, into Gold.com's infrastructure. Previously, Tether announced a $100 million strategic equity investment in Anchorage Digital.

Singapore-based crypto firm Penguin Securities completes approximately $18 million Pre-A round funding.

According to Coinpost, Singapore-based cryptocurrency financial services company Penguin Securities Holdings announced the completion of a Pre-A round of financing of approximately 2.8 billion yen (approximately US$18 million). Investors in this round include mint, Tokyo University of Science Investment Management, and Third Wave Financial, among other Japanese institutions. Founded in February 2023 by Japanese entrepreneurs, the company obtained a Capital Markets Services license from the Monetary Authority of Singapore in 2025, enabling it to offer cryptocurrency derivatives as well as traditional financial products such as stocks, bonds, and ETFs. This round of financing will be used to expand its products and services for qualified and institutional investors, strengthen its platform and organizational structure, explore new business areas, and advance strategic partnerships. Simultaneously, the company plans to establish a branch in Japan, officially entering the Japanese market, and exploring collaborations with local business partners.

mechanism

Trend Research reports a $763 million loss on its long ETH position, with a $315 million profit wiped out and a total loss of $448 million.

According to on-chain analyst Yu Jin, Trend Research previously profited $315 million by going long on ETH at $1,000-$2,000 and selling at $4,000. This time, however, they have lost $763 million. They have not only given back all their previous profits but also lost $448 million of their initial investment. From the afternoon of February 1st to now, over five days, Trend Research has sold 255,500 ETH ($554 million) at an average price of $2,168, then withdrew 483 million USDT from Binance to repay loans and reduce leverage. Currently, the liquidation price for multiple ETH lending positions has dropped to the $1,509-$1,708 range, mainly around $1,560. They currently hold 396,000 ETH ($754 million) at an average cost of $3,180. Losses: $763 million (realized losses of $258 million + unrealized losses of $505 million) plus leveraged debt of $526 million.

3,600 bitcoins were transferred to Binance SAFU, worth over $233 million.

According to Whale Alert, 3,600 bitcoins ($233,573,371 USD) were transferred from Binance to Binance SAFU.

Bitcoin treasury company Nakamoto transferred 933 BTC to a new wallet.

According to Lookonchain, Nakamoto, a Bitcoin treasury company that had previously accumulated 5,400 BTC (worth $376.4 million), has just transferred 933 BTC (worth $65 million) to a new wallet.

Longling Capital-linked wallets withdrew 8,500 ETH from Binance, worth $17.51 ​​million.

Important data

Bitcoin plunged 15.48% in a single day, marking its biggest single-day drop since the FTX crash.

According to OKX market data, Bitcoin experienced its largest single-day drop since the FTX crash, falling to a low of $6,156.3 and currently trading at $62,248.9 per coin, a 15.48% decrease in the last 24 hours. Ethereum also fell below $1,800, currently trading at $1,812.8 per coin, a 15.38% decrease in the last 24 hours.

Later reports indicated that the cryptocurrency market had lost $1 trillion in 22 days, averaging $45 billion in losses per day .

Saylor's unrealized losses exceed $10.1 billion, and Tom Lee's unrealized losses exceed $8.65 billion.

According to Onchain Lens monitoring, both Saylor and Tom Lee have suffered paper losses of billions of dollars as the market declines. Regarding Bitcoin, Saylor's losses exceed $10.16 billion due to the price falling below $61,000. Regarding Ethereum, Tom Lee's losses exceed $8.65 billion due to the price falling below $1,800.

Deribit: Over $2.5 billion in Bitcoin and Ethereum options will expire this Friday

According to Deribit data, over $2.5 billion worth of cryptocurrency options will expire this Friday. Bitcoin options have a notional value of $2.15 billion, a put/call ratio of 1.42, and a maximum stop-loss at $82,000; Ethereum options have a notional value of $408 million, a put/call ratio of 1.13, and a maximum stop-loss at $2,550. Data shows that a large number of Bitcoin open interest contracts are concentrated in the $80,000 to $90,000 strike price range, with high put option activity indicating a defensive stance from traders amid market volatility. Ethereum open interest is mainly concentrated around the mid-$2,000 strike price, with strong open interest in put options below the spot price and active call option interest on the upside.

Santiment: Whale holdings of BTC hit a 9-month low, while retail holdings rose to a 20-month high.

Santiment analyzed that Bitcoin's recent plunge, with its price falling to $60,001 for the first time since October 2024, may be driven by a combination of major players withdrawing and retail investors buying in. Current market data shows that the holdings of "whale" and "shark" wallets (medium to large holders) with 10 to 10,000 Bitcoins have dropped to 68.04%, a nine-month low. In just the past eight days, this group has sold as much as 81,068 BTC. Meanwhile, the holdings of retail wallets with less than 0.01 Bitcoins have risen to 0.249%, a 20-month high. This continued buying by small wallets reflects retail investors' refusal to give up and their enthusiasm for "bottom fishing." This combination of "large holders selling and retail investors buying" is historically a typical characteristic of bear market cycles. As long as retail investors do not show clear signs of “complete capitulation,” institutions and large investors will continue to be happy to sell their holdings and will not be in a hurry to buy them back, until the public completely loses confidence in cryptocurrencies and leaves the market.

Glassnode: Over 9.3 million Bitcoins are currently trading at a loss, a new high since January 2023.

GlassNode has reported that over 9.3 million Bitcoins are currently unprofitable. This is the highest level since January 2023.

Ethereum spot ETFs saw a net outflow of $80.7923 million yesterday, with Fidelity's FETH ETF experiencing the largest net outflow at $55.7826 million.

Bitcoin spot ETFs saw a net outflow of $434 million yesterday, marking the third consecutive day of net outflows.

Bitcoin's Ahr999 indicator has fallen below the buy-the-dip level to 0.27, similar to the levels seen during the FTX crash and the "316" crash.

Coinglass data shows that the Bitcoin Ahr999 indicator has dropped to 0.27, significantly below the "buy the dip" threshold (0.45). The index last fell to this level on June 18, 2022, November 22, 2022, and March 16, 2020, respectively, coinciding with the "ETH crash and liquidation," the "FTX collapse," and the "316 crash." The Bitcoin Ahr999 indicator (also known as the ahr999 buy the dip indicator) was created by ahr999 (九神) and primarily helps long-term holders (HODLers) and dollar-cost averaging (DCA) investors determine entry points. Ahr999 = (Current Bitcoin Price / 200-day DCA Cost) × (Current Bitcoin Price / Exponential Growth Valuation).

Delphi Digital: Since January of last year, 97% of altcoins have been in a downtrend, with an average drawdown of 78%.

According to Delphi Digital, since January 2025, 97% of altcoins on its industry dashboard have been in a downtrend, with an average drawdown of 78%. Only three out of 121 altcoins have risen: HYPE, SYRUP, and BCH.

The IBIT Bitcoin ETF saw a record-breaking $10 billion in trading volume in a single day, but its price fell by 13%.

Bloomberg ETF analyst Eric Balchunas stated on the X platform that the iShares Bitcoin Trust ETF (IBIT) broke its daily trading volume record on Thursday, reaching $10 billion. However, IBIT fell approximately 13% that day, marking its second-largest single-day drop since its launch. Its largest single-day drop occurred on May 8, 2024, at 15%.

Vitalik's plan to sell 16,384 ETH has resulted in the sale of 6,899.5 ETH, with the remaining ETH deposited into Aave.

Aave founder Stani.eth sold 4,504 ETH within four hours, cashing out 8.36 million USDC.

Equation founder Vida bought 128.28 bitcoins and is now facing a paper loss of $60,000.

In the past 12 hours, a total of $1.702 billion in contract liquidations occurred across the entire network, mainly involving long positions.

The USDT OTC price on the Binance platform rose to 7.1 yuan, and the selling price rose to 7.03 yuan.