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Traders are increasingly speculating that the recent Bitcoin plunge was not solely due to macroeconomic factors but was driven by a 'hidden hand,' CoinDesk reported. The main theories circulating are as follows: - A massive sell-off by an 'invisible hand': This theory suggests a specific country, such as Saudi Arabia, the UAE, Russia, or China, could have dumped over $10 billion in BTC, or an exchange on the brink of bankruptcy may have been forced to liquidate its holdings. - Failure of a yen carry trade by Asia-based traders: It is possible that a large, non-crypto Asian firm engaged in leveraged market making on Binance was directly impacted by the unwinding of the yen carry trade. - Forced liquidation of BlackRock's IBIT options: IBIT recorded its highest-ever trading volume ($10.7 billion) and options premium ($900 million). This pattern more closely resembles a large-scale forced liquidation of options positions rather than typical deleveraging. - A dump by Hong Kong hedge funds: This theory posits that Hong Kong-based hedge funds, which had borrowed yen for high-leverage bets on IBIT options, were forced to sell their BTC holdings after facing rising yen funding costs and consecutive losses in silver trading.

The Binance Secure Asset Fund for Users (SAFU) has purchased 3,600 BTC, valued at $233.37 million, according to Onchain Lens. The move is part of a previously announced plan by Binance to adjust the SAFU's asset structure, gradually converting its $1 billion stablecoin holdings into BTC.

South Korean crypto exchange Bithumb announced that it has added Blocery (BLY) to its delisting watchlist. Deposits for the token will be suspended starting at 7:00 a.m. UTC today.

TrendResearch deposited 20,000 ETH into Binance a short time ago to avoid the liquidation of its long position, according to ai_9684xtpa. The firm's ETH long position has a liquidation price between $1,509 and $1,800, the source added.

According to CoinNess market monitoring, BTC has fallen below $65,000. BTC is trading at $64,990.01 on the Binance USDT market.

DB Financial Investment has signed a strategic memorandum of understanding (MOU) with the Solana Foundation to build a digital capital market based on security tokens (STO), Aju Business Daily reported. The two companies plan to jointly source underlying assets for STOs in South Korea and abroad, handle financial structuring, and explore frameworks for issuing and distributing overseas STOs using the Solana blockchain.

Macro investor and Real Vision CEO Raoul Pal advised investors to maintain their conviction and embrace volatility amid BTC's sharp decline. He noted that every crash and panic feels terrible, creating a sense that the opportunity is lost. Pal recalled experiencing several drops of over 50% since he first bought BTC in 2013, emphasizing that these moments occurred within a broader long-term bull market. He stated that the most important lesson for a long-term appreciating asset is to simply do nothing. Pal warned that investors cannot survive this market by borrowing someone else's conviction and must earn it themselves, or they risk losing their capital. He stressed that if one believes tomorrow will be more digital and the value of fiat currency will decline, then enduring the associated volatility is necessary.

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: 48.75% long, 51.25% short - Binance: 48.53% long, 51.47% short - OKX: 49.23% long, 50.77% short - Bybit: 48.64% long, 51.36% short

According to CoinNess market monitoring, BTC has risen above $66,000. BTC is trading at $66,009.99 on the Binance USDT market.

U.S. Senator Cynthia Lummis has urged banks to actively embrace stablecoins, Decrypt reported. She argued that banks should adopt the faster, cheaper payment method and view digital assets as a business opportunity. Lummis emphasized that stablecoins would enable banks to offer entirely new financial products to their customers.

According to CoinNess market monitoring, BTC has risen above $65,000. BTC is trading at $65,034.67 on the Binance USDT market.

South Korean crypto exchanges Upbit, Bithumb, and Coinone have announced an investment warning for LumiWave (LWA). The exchanges explained that LWA has announced a proposal for a mainnet migration and rebranding to expand its business. They noted that this move is expected to increase the token's total and circulating supply, which could lead to greater price volatility.

Bitcoin payment app Strike announced that it experienced a temporary network issue due to higher-than-usual traffic but has since restored service. The company added that it is investigating the cause of the problem.

An address believed to belong to Stani Kulechov, founder of the cryptocurrency lending protocol Aave (AAVE), swapped 4,503 ETH for 8.36 million USDC seven hours ago, according to Onchainlens.

U.S. spot Ethereum ETFs saw a net outflow of $80.79 million on Feb. 5, marking the second consecutive trading day of outflows, according to TraderT. - BlackRock's ETHA: -$8.51 million - Fidelity's FETH: -$55.78 million - Invesco's QETH: +$3.53 million - Grayscale's ETHE: -$27.08 million - Grayscale's ETH (Mini): +$7.05 million

South Korean crypto exchange Korbit has renewed its Virtual Asset Service Provider (VASP) license with the country's Financial Intelligence Unit (FIU), according to an exclusive report from ZDNet Korea. This makes Korbit the second exchange to secure a renewal, following Upbit.

Prediction market platform Kalshi is strengthening its crackdown on insider trading and market manipulation ahead of the Super Bowl, Cointelegraph reported. To do so, the platform will form an independent advisory committee and partner with crypto transaction surveillance platform Solidus Labs to investigate suspicious trades. The volume of Super Bowl-related betting on Kalshi has now surpassed $168 million.

U.S. spot Bitcoin ETFs saw net outflows of $434.29 million on Feb. 5, according to data compiled by TraderT. This marks the third consecutive day of net outflows. No ETFs recorded net inflows on the day. - BlackRock's IBIT: -$175.48 million - Fidelity's FBTC: -$109.48 million - Bitwise's BITB: -$15.62 million - Ark Invest's ARKB: -$23.12 million - Grayscale's GBTC: -$75.42 million - Grayscale's Mini BTC: -$35.17 million

According to CoinNess market monitoring, BTC has fallen below $64,000. BTC is trading at $63,962.6 on the Binance USDT market.

The following shows estimated liquidation volumes and position ratios for major crypto perpetual futures over the past 24 hours: - BTC: $1.42 billion liquidated (84.41% longs) - ETH: $580 million liquidated (79.11% longs) - SOL: $186 million liquidated (88.71% longs)

Insaeng Nekat, a leading South Korean self-photo studio brand, is set to build a Web3-based global photo economy, Asia Business Daily reported. The company plans to convert user-taken photos into digital assets and build a reward system and fandom community around them. Insaeng Nekat has also announced a planned airdrop of its native token, CUTS.

Whale Alert reported that 600,000,000 USDT has been transferred from Binance to an unknown wallet. The transaction is valued at about $599 million.

Robert Kiyosaki, author of 'Rich Dad Poor Dad', announced on X that he has sold some of his Bitcoin and gold and will now patiently wait for a new market bottom. This follows a previous statement in which he said a sale on gold, silver, and Bitcoin had begun and that he was preparing to buy more. Kiyosaki added that he will post on X when he decides to buy back in, noting that his previous entry points were $6,000 for Bitcoin, $300 for gold, and $60 for silver. He also mentioned that he holds enough Ethereum and plans to purchase more later, emphasizing his investment philosophy that profits are made on the purchase, not the sale.

Risk-off sentiment is spreading across the market as Bitcoin (BTC) repeatedly fails to defend key support levels, according to analysts. The Block reported that Vincent Liu, chief investment officer at Kronos Research, attributed the decline to a combination of excessive leverage liquidations, spot ETF and institutional fund outflows, and a risk-off trend in the macro environment. Liu added that the Bitcoin capitulation indicator had recently reached its second-highest level in the past two years, suggesting that selling pressure in the market may have peaked. BTC Markets analyst Rachael Lucas noted that traders are no longer trying to catch a falling knife and are instead adopting defensive positions. This is supported by sell-offs during every rebound and a sharp decline in trading volume, she said. According to Lucas, as BTC fails to defend major support lines, traders are shifting from a buy-the-dip strategy to a wait-and-see approach.

A bill has been proposed in the U.S. state of Illinois for the state government to hold BTC in reserve, Bitcoin.com reported. The legislation would require the BTC to be stored in multi-sig cold storage and would prohibit its sale or trade without a new legislative process.