According to monitoring by Whale Alert, Binance recently transferred 4,225 BTC from a platform address to the Binance SAFU fund address, with a transfer value of approximately $299 million.

Odaily News Block Tiger posted on platform X stating that BitMEX co-founder Arthur Hayes has incurred cumulative public on-chain trading losses exceeding $10.37 million as of February 2026, with undisclosed positions not included in this data.

The specific transaction details are as follows:

In February 2026, liquidated positions in 4 tokens including LDO and ENA, with an investment of $9.35 million, resulting in a loss of $3.48 million;

In January 2026, positioned in BIO, with an investment of $1.1 million, resulting in a loss of $640,000, a decline of 58%;

In December 2023, traded LOOKS, ENS, and FXS, with an investment exceeding $10.29 million, resulting in losses exceeding $6.25 million, with single-token losses all exceeding 50%.

Odaily News Trader Eugene, reflecting on last week's market conditions, stated that from a high time frame (HTF) market structure perspective, significant issues remain evident in the market. While Bitcoin's $60,000 level can still be considered reasonable support, he noted that the lesson learned from the previous cycle is: never go all-in on long positions without stop-loss protection.

Eugene pointed out that in bull markets, rallies tend to be more frenzied than expected, while in bear markets, declines are always more severe than anticipated. He acknowledged that it remains unclear where the bottom of the bear market lies and whether Bitcoin has already bottomed at $60,000, but emphasized that "survival is always the top priority." He advised traders to individually assess the risk for each operation and implement stop-loss strategies to guard against further market downturns.

Odaily News: Huobi founder Li Lin stated in a post that he is not an investor in LD or Garrett Gin and did not reduce his holdings of Bitcoin or Ethereum during this market cycle. He emphasized that external parties should not associate the relevant market rumors with him. He mentioned that although he has been resting for many years, he still needs to clarify such rumors almost every year.

Odaily News Bitwise advisor Jeff Park published an analysis reviewing the sharp decline in Bitcoin and the broader crypto market on February 5th. He suggests the volatility was more likely triggered by risk unwinding within the traditional financial system and derivative mechanisms, rather than by crypto industry fundamentals or a single "black swan" event.

Jeff Park pointed out that on that day, Bitcoin ETFs, particularly IBIT, saw record-breaking trading volume and options activity, with options trading heavily skewed towards the put side. Concurrently, Bitcoin's price action had shown a high correlation with risk assets like software stocks in the preceding weeks. February 4th was marked by Goldman Sachs' Prime Brokerage (PB) division as a day of extreme drawdowns for multi-strategy funds, followed by rapid, indiscriminate deleveraging demands from risk management. This process impacted Bitcoin-related positions and further amplified the decline on February 5th.

He analyzed that despite the price dropping over 13% at one point within two days, while the market initially anticipated massive ETF outflows, actual data showed Bitcoin ETFs overall recorded net inflows instead. IBIT added approximately 6 million new shares, increasing its size by over $230 million. This indicates the selling pressure primarily came from "paper money" and non-directional trades related to hedging and market-making, rather than a withdrawal of long-term capital.

Jeff Park further hypothesized that multi-asset portfolios were forced to deleverage in a high-correlation environment, which included hedged Bitcoin exposure; rapid unwinding of options and basis trades triggered a short gamma effect, forcing counterparties to sell IBIT during the decline, thereby exacerbating volatility, but this did not lead to substantial long-term capital outflows. As some neutral strategies covered their positions on February 6th, the Bitcoin price rebounded.

He concluded that this round of decline is more likely the result of a resonance between traditional financial system risk management and derivative mechanisms, rather than a structural deterioration within the crypto market itself. Changes in ETF net flows in the following days will serve as a crucial observation indicator for determining whether there is new, sustained long-term demand.

Odaily News Bitwise advisor Jeff Park posted a clarification regarding recent market rumors, stating that the claim "Nasdaq has canceled IBIT options position limits, thereby giving Wall Street unlimited leverage" is not true.

Jeff Park stated that the so-called "cancellation of standard limits on crypto assets" does not equate to "having no limits whatsoever." Instead, it is about correcting the previously imposed non-standard, discriminatory rules on crypto assets. The actual content of the relevant document is a proposal to cancel the 25,000 options position cap for FBTC, ARKB, HODL, and Ethereum ETFs, aligning them with the current standard 250,000 position cap applicable to IBIT and BITB, in order to achieve fair competition at the regulatory level.

He further pointed out that the application to increase IBIT's options position limit to 1 million was indeed submitted last November but has not yet been approved. Jeff Park also reminded investors to maintain the habit of independent verification (DYOR), should not readily believe unverified market interpretations, and can personally confirm through the OCC database that the current options position limit for IBIT remains at 250,000.

Odaily News One of the Big Four accounting firms, Ernst & Young (EY), stated that wallets are evolving from crypto tools into the core entry point for the next generation of financial systems. It pointed out that "the wallet itself is the strategy; whoever controls the wallet controls the customer relationship." EY analyst Mark Nichols noted that wallets will become key infrastructure for storing, transferring, and managing tokenized assets. In the future, they will not only be applicable to crypto assets but will also cover on-chain financial scenarios such as payments, stablecoins, and private credit, becoming a unified entry point connecting all on-chain financial activities including payments, tokenized assets, and stablecoins. However, EY expects self-custody wallets will struggle to become mainstream, and the future market will be dominated by trusted wallet service providers such as banks, fintech companies, and professional custodial institutions. (CoinDesk)

Odaily News According to Onchain Lens monitoring, a wallet labeled "Gnosis Safe" withdrew 20,520 ETH from Binance, valued at $41.92 million.