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During the weekend following the release of the "Notice on Further Preventing and Dealing with Risks Related to Virtual Assets" (Document No. 42), the relevant team from CICC Hong Kong has engaged with several public chains and exchanges to explore potential business cooperation.Additionally, a public chain leader expressed a desire to explore relevant cooperation opportunities with investment banks and other intermediary institutions. Institutions such as Ant Group and JD.com have also shown concern regarding policy changes. Reports indicate that Hong Kong is one of the overseas issuance locations for RWA. Regulatory insiders familiar with the situation stated that RWAs based on assets from Hong Kong are not within the regulatory scope of Document No. 42; if domestic securities or funds are involved as underlying assets and RWA issuance occurs overseas, it will be overseen by the relevant departments of the China Securities Regulatory Commission. The related statements emphasize that strict regulation will be implemented for RWAs involving domestic assets going abroad and should not be interpreted as a signal to encourage or relax regulatory measures.

According to Jinshi, the Federal Reserve accepted a total of $8.56 billion from 10 counterparties in its fixed-rate reverse repurchase operations.

According to CoinDesk, based on the analysis by NYDIG's research director Greg Cipolaro, there is a divergence in sentiment between U.S. institutional investors and offshore traders in the Bitcoin market.Currently, the annualized basis of CME (Chicago Mercantile Exchange) Bitcoin futures is higher than that of the offshore exchange Deribit, indicating that U.S. hedge funds and other institutions still prefer to pay a premium to maintain long positions, while interest in leveraged long positions in the offshore market has significantly decreased.In response to previous market rumors that the "quantum computing threat" caused Bitcoin to drop to $60,000, NYDIG believes that the data does not support this logic. Recently, Bitcoin's movement has shown a positive correlation with quantum computing-related stocks such as IONQ and D-Wave, rather than a reverse divergence. If quantum computing indeed poses a targeted threat, related stocks should rise when Bitcoin falls. The current synchronized decline reflects a general decrease in market risk appetite for long-term growth assets.Additionally, Google Trends data shows that an increase in related search volume typically accompanies a rise in coin prices rather than a decline, indicating that the topic is more driven by market enthusiasm rather than panic selling.

10X Research CEO Markus Thielen stated at the Consensus Hong Kong conference: "After the November 2024 election, Bitcoin will rapidly rise from $70,000 to $90,000 in just 10 to 12 days. This process will have very sparse trading activity, creating a huge gap, a liquidity vacuum.So when Bitcoin falls back to $87,000, it will drop into this liquidity trap. What happens next is that at the $75,000 level, a large amount of negative options gamma appears. This means that market makers must hedge and can only keep selling futures. As the final wave of negative gamma shock is digested at $60,000, the market situation may turn around."

According to Globenewswire, Nasdaq-listed Ethereum treasury company FG Nexus announced a 1-for-5 reverse stock split, meaning every 5 shares of common stock will automatically combine into 1 share. Based on the current outstanding shares of approximately 32.7762 million, the number of outstanding shares is expected to decrease to about 6.5552 million after the split; the authorized number of common shares will be reduced from 90 billion to 18 billion.FG Nexus is expected to officially take effect at 9:30 AM Eastern Time on February 13, 2026, and will also adopt a new CUSIP number 30329Y403. After the split is completed, its stock will continue to trade on Nasdaq under the ticker "FGNX."

The founder of the Liebit Mining Pool (B.TOP), Jiang Zhuoer, stated on his social platform this morning that the cryptocurrency market "has experienced a severe oversell since the drop on January 28, and there is a demand for recovery and adjustment in the medium term." Jiang Zhuoer also mentioned that he has "bottomed out ETH at $1850, with a stop loss at $1790, and the take profit is not yet determined; let's wait and see. Such an oversell is an opportunity that only occurs on a yearly basis, and not making a profit would be a big loss." Jiang Zhuoer's Liebit Mining Pool was once one of the top Bitcoin mining pools globally, ranking first in network hash rate during the peak of the bull market at the end of 2017.

According to The Block, investment research firm Bernstein pointed out in its latest report that the crypto market may still be in a short-term bear cycle, but this trend is expected to reverse within 2026. Bitcoin prices may bottom out around the previous cycle's peak (approximately in the $60,000 range) before establishing a higher price base.The institutional cycle has made this round of market structure different from the previous retail-driven boom and bust. The report noted that U.S. policy dynamics could serve as a catalyst, such as the government using seized Bitcoin to establish strategic reserves and changes in Federal Reserve leadership. Additionally, institutional participation remains resilient, with ETF outflows being relatively limited, and there have been no large-scale leveraged liquidations of miners like in previous cycles.Corporate holders (such as Strategy) continue to accumulate during the downturn, and miners are also diversifying their income sources into AI-related data center businesses. Bernstein concluded that the current weakness may be a late-stage correction rather than the beginning of a prolonged winter, and the market reversal in 2026 could open up a "most impactful cycle" for Bitcoin.

Kevin Warsh, nominated by Trump to be the next chairman of the Federal Reserve, stated in an interview in 2025 that Bitcoin is a highly disruptive new technology. It is an important asset and serves as a "check-up report" for decision-makers. "Whether we are doing right or wrong can be seen from its price, so it is more like an inspector of monetary policy.""I see real innovators in the crypto industry, and I want to tell those suited bankers that Bitcoin is just a string of code. It is the coolest software right now, and it will give us the ability to do things we could never do before. Therefore, the focus is that we must ensure the development of crypto technology in the United States. Innovative talent is coming to America, and this is America's opportunity. The next decade will create extraordinary value."

According to HyperInsight monitoring, the Lightning Backhand Whale (0x50b30) closed a short position of 466.08 BTC 1 hour ago, realizing a profit of $103,000. There are currently no holdings in the address, and it remains on standby.This address is known for its rapid switching between long and short positions, often initiating large-scale reverse positions immediately after closing.

Data from the Indonesian Financial Services Authority (OJK) shows that by the end of 2025, despite the number of cryptocurrency users exceeding 20 million, about 72% of licensed exchanges have not turned a profit. The total trading volume in 2025 is expected to drop to 4,822.3 trillion Indonesian rupiah (approximately 30 billion USD), a significant decline from 6,500 trillion in 2024.Indodax CEO William Sutanto pointed out that Indonesian traders are turning to overseas platforms in search of lower fees, faster withdrawal speeds, and to avoid local tax burdens. Domestic exchanges face tax and compliance costs, while overseas platforms can be accessed via VPN without such burdens.After the regulatory authority was transferred from Bappebti to OJK in January 2025, 29 exchange licenses have been issued, intensifying competition. International giants like Binance and Bybit have entered the market, further squeezing local players. Additionally, Indodax is under investigation by OJK due to customer fund losses of approximately 600 million Indonesian rupiah (about 38,000 USD).

According to Jinshi, the Federal Reserve will keep the reverse repurchase rate at 3.5% and the discount rate at 3.75%.

According to HyperInsight monitoring, the whale (0x50b30) closed a BTC short position at 17:37, incurring a loss of $496,000, and immediately went long 2,536.53 ETH (approximately $7.63 million) with 25x leverage while simultaneously shorting 84.47 BTC (approximately $7.54 million) with 20x leverage, opening a hedging position.This address is known for its rapid switching between long and short positions, often making large reverse trades immediately after closing.

According to Decrypt, the free role-playing game "Forgotten Runiverse," based on the Ethereum scaling network Ronin, announced that it will shut down its servers and suspend operations this Tuesday. The game development team stated on the social media platform X that despite their efforts to overcome many obstacles, "it has reached a point where maintaining the game environment in its current state is no longer financially viable.""Forgotten Runiverse" is set in the story background of the Ethereum NFT collection "Forgotten Runes Wizard's Cult," which launched globally last year but announced its closure in less than a year. The team stated that all accounts and progress data will be securely saved, but the game will be inaccessible while the team evaluates potential development paths.

According to market news, an unknown contract on the BSC chain was exploited, and the hacker executed two reverse transactions through a flaw in the "burn pair" mechanism, ultimately resulting in a loss of approximately $100,000.The attacker first drained PGNLZ, then triggered the destruction of PGNLP and manipulated the price, thereby siphoning off most of the USDT from the liquidity pool.

Bloomberg senior ETF analyst Eric Balchunas analyzed that the recent return performance of the silver ETF SLV is "quite exaggerated," but the net inflow of funds in the past six months is only about $1 billion, which does not match its price increase. In contrast, the Bitcoin spot ETF IBIT has still accumulated over $6 billion in fund inflows despite a price pullback of about 24%.Balchunas believes this is a "very good signal" for Bitcoin's long-term prospects. He pointed out that when the market environment is favorable, any ETF can attract funds, but the truly "strong" star ETFs are those that can continue to attract capital during prolonged downturns and increased volatility.

According to Hyperinsight monitoring, the "Lightning Reverse" address (0x50b3...) conducted multiple operations in a short period, synchronously adjusting its ETH short positions and BTC long positions.The address first executed a loss-cutting and averaging down operation on its ETH short positions: it reduced its holdings by 1,912.15 ETH short (worth approximately 5.52 million USD), and then increased its holdings by 1,990.34 ETH short (worth approximately 5.80 million USD).After the adjustments, the total value of its ETH short positions was approximately 23.56 million USD, with a current floating loss of about 38,100 USD. At the same time, the address significantly averaged down its BTC long positions, increasing its holdings by 142.57 BTC long, worth approximately 12.86 million USD.After the operation, the scale of its BTC long positions increased to approximately 66.83 million USD, with an average price slightly decreasing to 89,557.7 USD, and a current floating loss of about 160,600 USD. The address is known for its rapid long-short shifts, often conducting large-scale reverse positions immediately after closing, and this synchronous adjustment once again reflects its high-frequency and flexible trading style.

According to HyperInsight monitoring, the Lightning Reverse Whale (0x50b30) shorted 211.71 BTC at 12:31 with 20x leverage, with an average entry price of $89,845, currently facing a slight unrealized loss.This address frequently shifts between long and short positions, typically opening large positions in the opposite direction immediately after closing.

According to HyperInsight monitoring, the whale (0x50b30) closed a long position of 1,737.71 ETH 2 hours ago, realizing a profit of $120,000. Currently, there are no holdings in the address, and it remains on the sidelines.The address frequently shifts between long and short positions, and it is common for it to immediately build a large position in the opposite direction after closing.