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Lookonchain reported that whales are accumulating ETH. One address, 0x46DB, withdrew 19,503 ETH ($40 million) from OKX, while another, 0x28eF, withdrew 9,576 ETH ($19.78 million) from Binance. Withdrawals from exchanges are typically interpreted as a sign of intent to hold.

South Korean financial authorities have formed an emergency response team and are launching a comprehensive review of all cryptocurrency exchanges following an incident involving erroneous Bitcoin deposits at Bithumb, according to a report from Newsis.

TrendResearch, an entity that has been accumulating Ethereum (ETH) since last November, sold off most of its holdings seven hours ago, Lookonchain reported. The address had withdrawn a cumulative 792,532 ETH, worth $2.59 billion, from Binance at an average price of $3,267. It has since deposited a total of 772,865 ETH, valued at $1.8 billion, back to the exchange. If the entire deposited amount was sold, the transaction would represent an estimated loss of $747 million.

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

South Korean crypto exchange Bithumb has announced on its official website that it will take full responsibility for a recent service disruption. The exchange stated that as of 7:00 a.m. UTC today, customer losses were estimated at around 1 billion won ($770,000), and it pledged to compensate for all damages, including any that may arise later. Bithumb outlined several measures: - Customers who sold assets at low prices during the incident (between 10:30 a.m. and 10:45 a.m. UTC on Feb. 6) will receive the full price difference plus an additional 10%. - Customers who were logged in during that time will receive 20,000 won (around $15). - All customers will receive 0% trading fees on all assets for seven days. - A 100 billion won (around $77 million) customer protection fund will be activated. Bithumb emphasized that it will learn from this incident and prioritize "customer trust and peace of mind" over external growth.

Eugene Ng Ah Sio, a well-known top futures trader on Binance, announced on his Telegram channel that he has closed his long positions. He stated that it appears Garrett Jin, the former CEO of the fraudulent exchange BitForex, has decided to "nuke" his Bitcoin holdings. "I don't want to be his exit liquidity, so I've closed my position," he said. He added that the market is more challenging than ever and that he will only take positions with very clear risk-reward ratios in the future. "The 'knife catch' long position I took at the bottom yesterday was good, but it's a shame the result wasn't better," he noted. Around 0:00 UTC yesterday, when BTC touched the $60,000 level, he had commented to "buy when there's blood in the streets." Meanwhile, a Bitcoin OG, believed to be Garrett Jin, has deposited approximately 5,000 BTC ($351 million) into Binance starting around 4:00 a.m. UTC today.

According to Whale Alert, 4,199 BTC, valued at $290 million, has been transferred from an anonymous address to a Binance wallet. The sending address belongs to a Bitcoin OG (an early, long-term holder) known as 1011short. There has been speculation within the crypto community that the address may belong to Garrett Jin, the former CEO of the fraudulent exchange BitForex.

Crypto influencer Pumpius revealed that an anonymous group offered him 25,000 USDT to defame Ripple and XRP, CryptoBasic reported. He said the group asked him to post that XRP is a scam and that he had sold all his holdings, but he refused the offer. Pumpius claimed this is evidence of an "organized campaign to create negative public opinion" about the project. The report noted that many others in the crypto industry have received similar offers, with some being for larger sums. CryptoBasic added that the XRP community has conflicts with communities of competing projects like Chainlink (LINK) and that such incidents are frequent for other projects, urging investors to be cautious.

Major exchanges have seen $101 million worth of futures liquidated in the past hour. In the past 24 hours, $681 million worth of futures have been liquidated.

According to CoinNess market monitoring, BTC has fallen below $68,000. BTC is trading at $67,978.64 on the Binance USDT market.

Cryptocurrency neobank Erebor has obtained a U.S. national bank charter, Cointelegraph reported on Feb. 6. This marks the first such charter granted under the second Trump administration. Erebor has also secured deposit insurance approval from the Federal Deposit Insurance Corporation (FDIC), following its approval from the U.S. Office of the Comptroller of the Currency (OCC). The company plans to offer services including financing for high-performance AI chip purchases and crypto-collateralized loans. Erebor raised $350 million in a funding round late last year.

According to CoinNess market monitoring, BTC has fallen below $69,000. BTC is trading at $68,936.22 on the Binance USDT market.

South Korea's ruling Democratic Party has called for a rigorous investigation into the recent incorrect Bitcoin payment incident at Bithumb to clarify its cause and determine responsibility, Dailyan reported. At a briefing on Feb. 7, party spokesperson Kim Ji-ho stated that the so-called 'ghost Bitcoin' incident is more than a simple input error. He argued that it clearly exposes structural flaws in the virtual asset exchange's internal control and ledger management systems. Kim emphasized that the issue cannot be taken lightly, as assets not actually held by the exchange were used in on-ledger transactions, causing price fluctuations and investor confusion.

A Bitcoin OG address has deposited a total of 5,000 BTC, valued at $351 million, to Binance over the past two hours, according to Lookonchain. Separately, Onchain Lens noted an initial deposit of 800 BTC ($56.15 million) from the same address, identified as 1011short. The firm added that the address still holds 799 BTC ($55.89 million) and could make further deposits. Deposits to exchanges are typically interpreted as a precursor to selling. Meanwhile, some in the crypto community speculate that the address belongs to Garrett Jin, the former CEO of the defunct exchange BitForex.

XRP investors are suffering significant losses from emotional trading patterns, buying in euphoria during price rallies and selling in fear during downturns, said Nick, founder of the on-chain tracking platform Web3Alert. According to CryptoBasic, he noted that when XRP was trading between $2 and $3.5, retail investors actively bought in, but they shifted to the sidelines after the price plummeted to the $1.2 level. Nick emphasized that this pattern ultimately results in entering at the end of a bull market and selling in a bear market, a response driven by emotion rather than changes in market fundamentals. The media outlet added that Ripple CEO Brad Garlinghouse has also mentioned that a contrarian strategy of finding opportunities when the market is fearful and being cautious when it is greedy can be effective for investing.

According to CoinNess market monitoring, BTC has fallen below $70,000. BTC is trading at $69,977.61 on the Binance USDT market.

Google searches for Bitcoin reached their highest level in a year following the recent price decline, Cointelegraph reported, citing Google Trends data. On Feb. 1, the Google search index for BTC hit 100, its peak for the last 12 months. The previous high occurred around November 2025, when BTC briefly dipped below $100,000. On the day the index reached 100, the price of BTC fell to around $60,000 before rebounding to its current level above $70,000. The outlet suggested the surge in search volume signals a renewed interest from retail investors.

The following are the 24-hour long/short ratios for BTC perpetual futures on the world’s three largest crypto futures exchanges by open interest: Overall: 49.9% long, 50.1% short - Binance: 51.2% long, 48.8% short - MEXC: 50.07% long, 49.93% short - Bybit: 50.77% long, 49.23% short

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $377.14 million liquidated (90.83% shorts) - ETH: $134.08 million liquidated (68.87% shorts) - SOL: $26.47 million liquidated (73.31% shorts)

South Korean financial authorities have launched an on-site inspection into the crypto exchange Bithumb following a massive Bitcoin mispayment incident, The Hankyoreh reported. An official stated that the authorities are taking the matter very seriously due to the large scale of the damages and plan to thoroughly investigate the cause of the accident. The incident occurred yesterday around 10:00 a.m. UTC. While attempting to distribute event prizes worth between 2,000 and 50,000 won to 695 customers, an employee mistakenly entered the payment unit as BTC instead of won. This resulted in users receiving at least 2,000 BTC each. The price of BTC on Bithumb subsequently plummeted. Bithumb stated that it immediately blocked trading and withdrawals for the affected accounts and has since recovered 618,212 BTC, or 99.7% of the misallocated funds.

Cryptocurrency companies raised approximately $258 million in funding this week, DL News reported. The deals included four in the DeFi sector and three in payments. Notable investments include: - USDT issuer Tether invested $100 million in crypto bank Anchorage Digital. - Blockchain analytics firm TRM Labs raised $70 million in a Series C funding round. - Solana (SOL)-based decentralized exchange (DEX) Jupiter (JUP) secured $35 million from ParaFi Capital.

An address linked to Stani Kulechov, founder of the crypto lending protocol Aave, has swapped another 1,700 ETH ($3.53 million) for 30,727 AAVE over the past 13 hours, AmberCN reported. The move brings the address's total sales since yesterday to 6,204 ETH, valued at $11.88 million, which has been swapped for other assets.

According to data from the Arweave Explorer, the Arweave (AR) network has not produced a new block in over 24 hours. The last recorded block, number 1,851,686, was generated at approximately 3:18 a.m. UTC on Feb. 6.

According to the Financial Times (FT), Kris Marszalek, co-founder and CEO of Crypto.com, has acquired the AI.com domain for around $70 million. The deal marks one of the largest publicly disclosed domain sales on record. Marszalek plans to launch a new AI platform, which will be promoted through a Super Bowl ad. The platform is set to offer a consumer-focused AI agent capable of messaging, using apps, and trading stocks. The acquisition was paid for entirely in cryptocurrency, reflecting a long-term bet on AI as a major technological wave.

Bitmex co-founder Arthur Hayes stated that the recent Bitcoin plunge was likely due to hedging by dealers linked to structured products tied to BlackRock's spot Bitcoin ETF (IBIT). He added that he plans to compile a complete list of all bonds issued by banks to better understand the trigger points that could cause sharp price increases or decreases. Hayes explained that when the rules of the game change, investors must adapt as well.