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Binance has announced it will temporarily suspend deposits and withdrawals for Sei (SEI) to support an upcoming network upgrade. The suspension is scheduled to begin at 4:30 p.m. UTC on Feb. 3.

An address associated with the memecoin TRUMP has transferred 5.267 million TRUMP, valued at $22.44 million, to a BitGo custody address, according to Onchainlens. The on-chain analysis firm suggested the move could be in preparation for an over-the-counter (OTC) sale.

The White House convened banking and crypto industry executives on Feb. 2 to discuss the CLARITY Act, a bill on crypto market structure, CoinDesk reported. During the meeting, the banking sector reportedly offered no compromise proposals. According to officials, the White House has instructed attendees to agree on revised legislative language regarding payments on stablecoin holdings by the end of this month. The issue of whether to permit interest or rewards on stablecoins is a key point of contention and a major reason for the deadlock in the bill's negotiations. Future discussions will continue at the working group level.

The U.S. ISM Manufacturing Purchasing Managers' Index (PMI) has reached a 40-month high, a development that could be a positive signal for Bitcoin (BTC), Cointelegraph reported. The index registered 52.6 in January, surpassing market expectations of around 48.5 and breaking a 26-month streak of contraction. The ISM PMI is a key indicator of U.S. manufacturing activity, with a reading above 50 signaling expansion. The latest figure is the highest since August 2022. Cointelegraph noted that from mid-2020 to 2023, the PMI's movements have shown a correlation with the price trends of Bitcoin and the broader crypto market. Joe Burnett, Vice President of Bitcoin Strategy at Strive, analyzed that whenever the manufacturing PMI has rebounded in the past, the market has shifted to a risk-on phase. He added that Bitcoin saw strong upward trends following such rebounds in 2013, 2016, and 2020.

A whale address (starting with 3BTqd) dormant for eight years deposited 243 BTC ($19.15 million) to Gemini about 30 minutes ago, according to Onchain-Lense.

U.S. investment bank Compass Point has assessed that the cryptocurrency market is entering the final stages of its bear phase, with Bitcoin likely to form a bottom around $60,000, CoinDesk reported. In a research note, the bank stated that BTC's next support level is expected in the $60,000 to $68,000 range, where 7% of long-term holders (those holding for over six months) acquired their positions. At the same time, the $81,000 to $83,000 zone is projected to be a strong resistance level. The bank also identified the $70,000 to $80,000 range as an "air pocket" with a thin order book, where prices could fall sharply, as less than 1% of long-term holders bought in this area. If BTC breaks below the $60,000–$68,000 support, the next support could be near $55,000, though Compass Point noted such a scenario would likely require a combination of negative events like a U.S. stock market crash and a series of bankruptcies at major crypto firms.

According to CoinNess market monitoring, BTC has risen above $79,000. BTC is trading at $79,010 on the Binance USDT market.

Alex Thorn, head of research at Galaxy Digital, suggested on X that Bitcoin could face additional medium- to long-term selling pressure after breaking through key support levels. He noted that due to weak on-chain data, growing macroeconomic uncertainty, and a lack of upward catalysts, Bitcoin could fall to its 200-week moving average at $58,000 in the coming weeks to months. Thorn pointed out that Bitcoin has fallen about 15% since late January, triggering over $2 billion in long position liquidations. Currently, approximately 46% of the total Bitcoin supply is at a loss, a level similar to past bear markets. While he anticipates possible temporary sideways movement within a 10% range of the average spot BTC ETF purchase price of $84,000, Thorn believes selling pressure will persist without a clear improvement in demand or a new upward catalyst.

The Altcoin Season Index from crypto data platform CoinMarketCap has fallen two points from yesterday to 30. The index is calculated by comparing the price performance of the top 100 coins by market capitalization (excluding stablecoins and wrapped tokens) against Bitcoin. If 75% of the top 100 coins have outperformed Bitcoin over the last 90 days, it is considered an 'altcoin season.' Otherwise, it is considered a 'Bitcoin season.' A reading closer to 100 indicates an altcoin season.

The Fear & Greed Index from crypto data provider Alternative rose three points from yesterday to 17, continuing the state of Extreme Fear. The index indicates extreme market fear as it approaches zero and extreme optimism as it approaches 100. The Fear & Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin's market cap dominance (10%), and Google search volume (10%).

U.S. President Donald Trump said he has no knowledge of a $500 million investment by a United Arab Emirates (UAE) royal in World Liberty Financial (WLFI), a DeFi project led by the Trump family, stating that his sons are handling the matter. The comment follows earlier reports that Aryam Investment, a firm backed by UAE royal and National Security Advisor Sheikh Tahnoon, acquired a 49% stake in the project for $500 million last year. Following the deal, the U.S. approved the sale of hundreds of thousands of advanced Nvidia AI chips to the UAE, some of which are reportedly intended for G42, an AI firm run by Sheikh Tahnoon. In response, some members of the U.S. Congress have raised concerns over potential conflicts of interest and corruption.

An address suspected to belong to Ethereum founder Vitalik Buterin has sold 493 ETH, worth $1.16 million, over the past eight hours, according to Lookonchain.

Coinbase has announced the addition of DEEP and WAL to its listing roadmap.

Binance founder Changpeng Zhao has refuted allegations that the exchange was responsible for last weekend's sharp downturn in the cryptocurrency market. In a post on X, he addressed rumors that Binance had sold a large amount of Bitcoin, clarifying that speculation about a $1 billion sale stemmed from user transactions. Zhao explained that the exchange's wallet balances fluctuate according to user deposit and withdrawal flows. Regarding the management of the Secure Asset Fund for Users (SAFU), he stated that a plan to convert the fund from stablecoins to Bitcoin will be executed over approximately 30 days through incremental purchases on centralized exchanges with sufficient liquidity. Zhao also dismissed claims from some community members that he had "ended the supercycle," remarking that if he possessed such influence, he could just as easily restart it.

President Donald Trump has claimed to have made the biggest contribution to the cryptocurrency industry, SolidIntel reported.

Igor Runets, founder of Russia's largest BTC mining company BitRiver, has been placed under house arrest on tax evasion charges, Coindesk reported, citing Bloomberg. Runets was arrested last Friday for allegedly hiding assets to evade taxes and currently faces a total of three tax evasion charges. On the same day, a subsidiary of En+ Group filed a bankruptcy petition against BitRiver. The lawsuit, seeking approximately $9.2 million, is based on a claim that BitRiver's parent company, Fox Group, failed to deliver prepaid mining equipment. BitRiver was previously sanctioned by the U.S. in 2022 following Russia's invasion of Ukraine.

A total of 89% of global family offices still do not include cryptocurrency in their portfolios, CoinDesk reported, citing a JPMorgan report. According to the report, demand for using cryptocurrency as a hedge was limited even amid growing geopolitical uncertainty. In fact, 72% of family offices do not invest in gold either, indicating a low preference for both traditional and emerging hedge assets. Despite the continued prominence of crypto-related issues, most family offices are maintaining a wait-and-see approach, constrained by high volatility and unstable asset correlations. However, 17% of respondents said they are considering cryptocurrencies and digital assets as a key investment theme in the medium to long term. In contrast, 65% identified AI as a core investment area. The survey was conducted on 333 family offices across 30 countries, with an average net worth of $1.6 billion.

The three major U.S. stock indices closed higher today. - S&P 500: +0.54% - Nasdaq: +0.56% - Dow Jones: +1.05%

Major Bitcoin mining firms will face their break-even point if BTC falls to the $70,000 level, BeInCrypto reported. The outlet explained that considering current network difficulty and electricity costs per kWh, major miners will encounter operational difficulties if the price of Bitcoin drops below the $69,000 to $74,000 range. Mining is generally profitable when Bitcoin remains above $70,000, but a drop below this level would create a situation where only certain miners could operate advantageously.

According to CoinNess market monitoring, BTC has fallen below $78,000. BTC is trading at $77,978 on the Binance USDT market.

South Korean internet-only bank K-Bank has applied for 13 trademarks related to stablecoin wallets, according to a report by E-Today. The applications include names such as KSC Wallet, KSTA Wallet, Kstable Wallet, Kbank SC Wallet, and Kbank Wallet. K-Bank is the first internet-only bank in the country to officially file for such trademarks. The move is seen as an attempt to secure a large number of trademarks in advance to take the lead in the usage and payment infrastructure ahead of any potential issuance, the outlet noted.

MultiversX has adopted Google's Universal Checkout Protocol (UCP), becoming the first blockchain to do so, The Block reported. The integration will enable AI systems to check wallet balances, transfer tokens, and execute blockchain transactions on the network.

Coinbase announced on its official X account that its notional trading volume hit $5 billion on Jan. 30, marking a new single-day record.

GameStop CEO Ryan Cohen is planning to acquire a publicly traded consumer goods company, calling the new plan much more attractive than Bitcoin. According to CoinDesk, he stated that he is planning a very large-scale acquisition of a public company that he believes will innovatively transform GameStop and could increase its value to hundreds of billions of dollars. When asked if he plans to cash out Bitcoin to fund the acquisition, Cohen declined to answer, saying it was not yet the time to comment but reiterated that the new strategy is more attractive than Bitcoin.

Deceased sex offender Jeffrey Epstein was an early investor in Coinbase, according to a Decrypt report citing newly released documents from the U.S. Department of Justice. The files, part of a release of hundreds of thousands of documents related to Epstein, show he invested $3 million in the crypto exchange in 2014. The investment was led by Tether (USDT) co-founder Brock Pierce and his venture capital firm, Blockchain Capital, at a time when Coinbase was valued at $400 million. Released emails also indicate that Coinbase executives were aware of Epstein's status as a convicted felon at the time of the investment.