Live Feed

Whale Alert reported that 400,000,000 USDT has been transferred from HTX to Aave. The transaction is valued at about $400 million.

The U.S. government's unrealized losses on its strategic Bitcoin holdings are approaching $5 billion amid the cryptocurrency market downturn, Walter Bloomberg reported. A 45% drop in Bitcoin's price from its peak has reduced the value of the U.S. holdings from approximately $18.5 billion to $13.8 billion. Despite the decline, the Trump administration is maintaining its strategy, stating that it believes long-term gains will offset short-term volatility. However, the report added that some critics argue these losses demonstrate the risks of investing taxpayer funds in high-risk assets.

Matt Hougan, Chief Investment Officer (CIO) at Bitwise, believes the bad news is already priced into the market. According to The Block, Hougan explained that the recent sell-off reflects cyclical selling, leverage effects, and broader macro risk-off sentiment rather than a failure within cryptocurrency itself. He noted that gold and silver also saw sharp sell-offs, while U.S. stocks faced pressure from uncertainty over growth, interest rates, and capital spending. While acknowledging large capital outflows, Hougan stressed that the current situation is structurally different from 2022. He pointed out that the 2022 outflows were characterized by crypto-related failures and systemic risk, whereas this time there have been no signs of systemic stress across crypto infrastructure, such as bankruptcies or market infrastructure collapses. He concluded that while there is a possibility Bitcoin's price could fall further, a repeat of the 2022 crash is unlikely, as Bitcoin has matured since the previous cycle.

According to CoinNess market monitoring, BTC has fallen below $70,000. BTC is trading at $69,994.14 on the Binance USDT market.

The Nasdaq Composite Index has extended its intraday gains, rising by 2.03%. Meanwhile, the S&P 500 is up 1.71%, and the Dow Jones Industrial Average has climbed 2.15%.

The Coinbase Premium has turned positive for the first time since mid-January, according to Julio Moreno, a senior analyst at CryptoQuant. In a post on X, Moreno stated that U.S. investors are now buying as Bitcoin surpasses the $60,000 level. The Coinbase Premium measures the price difference for an asset between U.S.-based exchange Coinbase and Binance.

Major exchanges have seen $145 million worth of futures liquidated in the past hour. In the past 24 hours, $2,043 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has risen above $71,000. BTC is trading at $71,055.61 on the Binance USDT market.

Galaxy Digital has approved a share buyback program of up to $200 million, Cointelegraph reported. The program authorizes the company to purchase its own Class A common shares over the next 12 months. Galaxy is listed on both the Nasdaq and the Toronto Stock Exchange. If the buyback is conducted on the Toronto Stock Exchange, it will require regulatory approval. On the Nasdaq, the purchase volume is limited to 5% of the company's total issued shares at the time the buyback begins. The specific timing of the program has not been disclosed.

Several long-dormant wallets have resumed activity to purchase Ethereum amid the market downturn, according to Lookonchain. One wallet, starting with 0x55C1, reactivated after two years of inactivity, withdrawing 10,000 ETH (approximately $19.24 million) from Binance six hours ago. Another wallet, beginning with 0x1342, became active again after one year, withdrawing 1,892 ETH (worth around $3.75 million) from Binance 30 minutes ago.

Ark Invest, led by Cathie Wood, sold more than 119,000 shares of Coinbase (COIN) on Feb. 5, valued at approximately $19 million, Decrypt reported. The sale comes just days after the investment firm purchased additional shares of the crypto exchange.

According to CoinNess market monitoring, BTC has risen above $70,000. BTC is trading at $70,009.9 on the Binance USDT market.

Ethereum founder Vitalik Buterin commented on social media, stating, "Zcash good, Zooko good."

Chinese regulatory authorities have announced an expansion of their crackdown on cryptocurrencies to include stablecoins and asset tokenization. CoinDesk reported that the announcement was made jointly by eight state agencies, including the People's Bank of China (PBOC) and the China Securities Regulatory Commission (CSRC). The report reiterates the country's comprehensive ban on crypto, prohibiting the trading, issuance, and facilitation of transactions in assets like BTC, ETH, and USDT. The new measures single out fiat-pegged stablecoins for special investigation. Chinese authorities noted that stablecoins threaten monetary policy by mimicking the core functions of a national currency. Consequently, a new rule has been added prohibiting both domestic and overseas Chinese companies, including the foreign branches of domestic firms, from issuing yuan-based stablecoins abroad without government approval. Alongside this, controls on tokenization have been tightened. Chinese domestic companies seeking to tokenize overseas assets must now obtain regulatory approval or submit relevant documentation and meet established standards. In 2021, China declared all crypto-related business activities illegal and banned cryptocurrency mining.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

Nobel laureate in economics Paul Krugman has argued that the recent Bitcoin crash is different from previous cycles. According to U.Today, the City University of New York professor wrote on his blog that Bitcoin's rise was primarily driven by political factors, and the current downturn represents a crisis of trust in those factors. He explained that in the past, a libertarian ideology provided a floor for Bitcoin's price. This faith, backed by a strong ideological foundation, allowed it to recover from several major crashes. However, Krugman believes Bitcoin has now become a political product, and this ideological price defense will no longer be effective, concluding that the situation appears different this time.

Whale Alert reported that 250 million USDC has been minted at the USDC Treasury.

According to CoinNess market monitoring, BTC has risen above $69,000. BTC is trading at $69,031.56 on the Binance USDT market.

South Korean crypto exchange Bithumb announced that an abnormal quantity of Bitcoin was distributed to some customers during an event promotion on Feb. 6. In a notice, the exchange stated that sales from some of the accounts that received the Bitcoin caused a temporary, sharp fluctuation in its price. Bithumb added that its internal control system immediately detected the unusual transactions and promptly restricted trading on the affected accounts. As a result, the market price returned to normal levels within five minutes. The exchange also noted that its domino liquidation prevention system functioned correctly, preventing any chain liquidations resulting from the price anomaly.

Whale Alert reported that 2,989 BTC has been transferred from Coinbase Institutional to an unknown new wallet. The transaction is valued at about $205 million.

Amid a sharp price correction across the cryptocurrency market, Tether CEO Paolo Ardoino posted a short video to his X account depicting an army marching into battle with shields and swords. According to U.Today, the video is being interpreted as a symbol of resilience and defense against upcoming selling pressure.

Iran has rejected U.S. demands to halt uranium enrichment or transfer its stockpile abroad during talks held in Oman, foreign media reported. However, Iranian officials signaled a willingness to continue diplomatic efforts to avoid a military attack. The discussions were conducted indirectly through Omani mediators but made little progress on core issues.

Bitfarms' stock price surged after the company shifted its identity from a Bitcoin firm to one focused on artificial intelligence (AI), CoinDesk reported. CEO Ben Gagnon stated that the company is "no longer a Bitcoin company," emphasizing that it is now an "infrastructure owner and developer for HPC/AI data centers across North America." Following the news, Bitfarms' stock rose 18%, recovering all of its losses from the previous day. The company plans to focus on building data centers for high-performance computing (HPC) and AI workloads.

Citigroup has lowered its price target for Coinbase (COIN) to $400 per share from $505, CoinDesk reported. The bank had previously raised its target to $505 last July, when COIN stock was trading near its all-time high of around $450. The report cited declining trading volumes, a slowdown in institutional investor activity, and uncertainty surrounding the timing of U.S. crypto legislation as reasons for the adjustment. It also identified progress on a bill for crypto market structure (CLARITY) as a key catalyst for a potential recovery in the stock's price. At the same time, Citigroup maintained its Buy/High Risk rating for Coinbase.