Odaily reported that Ai Yi posted on platform X, stating that two addresses belonging to the same entity (0x28eF...Ec7e and 0x11d8...805E) have withdrawn 53,544.2 ETH from Binance since yesterday, valued at $111 million, with an average withdrawal price of $2,074.4. Since February 1st, this entity has accumulated a total of 63,784.8 ETH, with a total value of $133 million and an average price of $2,083.61. This entity has had three interactions with B2C2.

Odaily News Bitcoin.com News posted on platform X stating that the state of Illinois introduced the "Community Bitcoin Reserve Act" earlier this week. The bill aims to establish a state-operated program to hold Bitcoin through multi-signature cold storage, initially setting up the Altgeld Bitcoin Reserve. According to the bill, the reserved Bitcoin can only be traded or sold upon obtaining new legislative authorization.

Odaily News Ryan Navi, Chief Information Officer of Solana treasury company Forward Industries (FWDI), stated that there is current mispricing in the market, creating potential opportunities for the company. Ryan Navi pointed out that Forward Industries currently has no debt, and if the industry faces funding constraints, the company will adopt an offensive strategy to drive the consolidation of other SOL treasury companies.

He disclosed that Forward Industries currently holds nearly 7 million SOL, with a holding size exceeding the combined total of its top three competitors. Ryan Navi further stated that a balance sheet with no leverage and no debt is considered by him as a core advantage in the crypto treasury market. The company will continue to allocate Solana as a long-term strategic infrastructure, rather than a short-term speculative tool, without using leverage or taking on debt. (Coindesk)

1. Bitwise Advisor Reviews February 5th Plunge: Bitcoin's Decline May Stem from Traditional Finance Deleveraging, Not Crypto Fundamentals;

2. CZ: Binance Has Assisted in Handling Bithumb's "Mistaken Airdrop of 2,000 BTC" Incident;

3. South African Central Bank Governor Warns Growing Stablecoin Use Could Impact Monetary Unity;

4. Coinbase CEO: Bullish on Cryptocurrency Long-Term, Coinbase Will Continue Operating Under Any Market Conditions;

5. BTC and ETH Spot Markets Experience Abnormal 1-Minute Volatility, Single-Minute Amplitude Once Exceeded 3%;

6. Bitwise Advisor Clarifies Rumor: Nasdaq Has Not Canceled IBIT Option Position Limits;

7. Michael Saylor No Longer Insists on "Buy Only, Never Sell": Selling Bitcoin Is Also an Option;

8. Trump Phone Still Not Launched, Price to Increase and No Longer "Made in the USA";

9. Tether Assists Turkey in Freezing $544 Million in Illegal Crypto Assets Upon Request;

10. EY: Wallets Will Become the Core Entry Point for Next-Generation Finance, Controlling the Wallet Means Controlling the Customer Relationship;

11. Wintermute CEO: Expresses Strong Skepticism Towards Recent Market Rumors of "Institutional Blow-ups";

12. Bitcoin Short-Term Outlook Divided: Some Traders Eye $84,000, But Bear Market Risks Remain;

13. CoinList: AC's New Project Flying Tulip Token Sale Has Ended.

Odaily News According to Cloverpool data, on February 8th, Bitcoin completed a new round of mining difficulty adjustment at block height 935,424. The mining difficulty was reduced by 11.16% to 125.86 T, marking the largest single downward adjustment since the summer of 2021 and the tenth-largest mining difficulty adjustment in Bitcoin's history. Currently, the network's seven-day average hash rate is 990.08 EH/s.

Data shows that Bitcoin's total network hash rate has declined by approximately 20% over the past month, with a drop of about 11% last week alone, falling to around 863 EH/s. This is significantly lower than the all-time high of approximately 1100 EH/s recorded last October. The decline in hash rate is partly related to Bitcoin's price falling over 45% from its peak of $126,000, with continuous ETF outflows and market risk aversion putting pressure on miner revenues. On the other hand, a winter storm hit many parts of the United States in late January, forcing some miners to reduce their hash rate to support the local power grid, with approximately 200 EH/s of hash power temporarily interrupted.

Odaily According to the latest data from Gate, the price of gold has risen to $4,965.51 per ounce, with an intraday increase of 3.57%; the price of silver has risen to $77.840 per ounce, with an intraday increase of 9.84%.

Regarding volatility indices, the BVIX (BTC Volatility Index) is currently reported at 60.17, up 2.52% intraday; the EVIX (ETH Volatility Index) is currently reported at 78.97, up 2.19% intraday.

In the foreign exchange market, the US Dollar against Offshore Chinese Yuan (USD/CNH) fell 0.14% intraday, currently at 6.92926; the US Dollar against Japanese Yen (USD/JPY) rose 0.20% intraday, currently at 157.239.

In terms of commodities, WTI crude oil rose 0.58% intraday, reported at $63.52 per barrel; Brent crude oil rose 1.25% intraday, reported at $68.40 per barrel.

Odaily News According to monitoring by Yu Jin, Ethereum treasury company BitMNR (@BitMNR) continued to purchase 20,000 ETH today, valued at $41.98 million. BitMNR (0xBf0...7f52) currently has an unrealized loss of $7.5 billion on its ETH holdings. Following this week's market downturn, the institution has accumulated purchases of 40,000 ETH, with a total value of $88.02 million, at an average purchase price of approximately $2,200.

Odaily News South African Reserve Bank Governor Lesetja Kganyago has warned that the increasing popularity of stablecoins poses a risk of "fragmentation" for related crypto assets. Speaking at the 2026 Warwick Economic Summit, Kganyago stated that central banks have a responsibility to "safeguard the unity of currency and the affordability of public access to money," and the development of stablecoins could challenge this objective.

He pointed out that stablecoins, which are digital tokens typically backed by assets like U.S. Treasury bonds and designed to maintain a peg to fiat currency, have recently been increasingly used in South Africa as relatively low-volatility crypto asset tools. The South African Reserve Bank had previously warned in November 2025 that the lack of comprehensive regulation for stablecoins is becoming a new risk to the country's financial system.

Furthermore, Kganyago added that rising global uncertainty underscores the importance of central banks' diverse financial models, which is particularly crucial in the context of changes such as U.S. tariff increases. (Bloomberg)

Odaily News Coinbase CEO Brian Armstrong posted on social media, stating that the cryptocurrency market has experienced significant volatility in the past few days, but this is nothing new, as the crypto industry has already weathered multiple market cycles. Based on his personal judgment, the current volatility does not change his long-term bullish stance on crypto assets.

Brian Armstrong pointed out that cryptocurrency technology is rapidly "eating away" at the traditional financial services landscape, and the process of reshaping the financial system continues to advance. At the same time, Coinbase will, as always, continue to advance product and service delivery under any market conditions, focusing on driving the renewal and upgrade of the financial system.

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: Market data shows that BTC and ETH spot prices experienced significant abnormal fluctuations between 00:05 and 00:17, with single-minute amplitude exceeding 1% multiple times, and even reaching 3% at certain moments.

Some market analysis suggests that such high-frequency, consecutive short-term violent fluctuations may be related to malfunctioning market maker grid trading strategies, amplifying price volatility during periods of relatively concentrated liquidity.

Odaily News According to CloverPool data, Bitcoin mining difficulty was adjusted today at 21:56 at block height 935,424. The mining difficulty dropped to 125.86 T, a decrease of 11.16%, marking the largest decline since May 2021. The current network hash rate is 948.13 EH/s. Analysis indicates that the next Bitcoin mining difficulty adjustment is expected to decrease further.

Odaily News Wintermute CEO Evgeny Gaevoy posted on the X platform, expressing skepticism towards the recent market rumors about "institutional blowouts," or at least doubting their medium to long-term impact. Perhaps some institutions did blow out, but it hasn't generated any noteworthy spillover effects. He pointed out that during the 3AC blowout after the Terra incident, the market quickly became aware as the news spread through private messages. While the FTX situation took longer, it became very obvious once news of its negotiations with Binance was disclosed. Currently, nothing similar is being observed; all rumors originate from anonymous accounts without any credible confirmation.

Evgeny Gaevoy believes that the leverage in this cycle primarily comes from perpetual contracts. Compared to the leverage facilitated by opaque, uncollateralized lending platforms like Genesis and Celsius in the last cycle, the current structure is more orderly. Exchanges have also learned lessons in margin management and employ mechanisms like ADL to avoid losses. Furthermore, he thinks no institution today would adopt the FTX model of investing user deposits into illiquid assets. Finally, he stated that if a company were truly bankrupt, publicly denying it would be highly risky, especially if the company is located in Europe, the US, the UK, or Singapore, as it could face legal consequences.

Odaily News Bloomberg senior ETF analyst Eric Balchunas posted on X, stating that his previous assessment that the investor structure of Bitcoin ETFs would be stronger than market expectations still largely holds true. However, his expectation that ETF inflows would reduce severe market volatility has proven to be incorrect. Eric Balchunas mentioned that he originally believed retail ETF capital would replace the highly speculative retail investors present before the FTX incident, thereby enhancing market stability. However, he did not fully account for the selling pressure from early holders (OGs) concentratedly reducing positions at high levels. He also pointed out that Bitcoin's approximately 450% rise over two years is itself a potential risk signal, as rapid gains are often accompanied by high volatility. Therefore, Bitcoin's attributes as a high-volatility, high-risk asset are likely to persist for the foreseeable future.