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BlackRock has deposited 3,948 BTC ($261.16 million) and 5,734 ETH ($11.04 million) to Coinbase Prime, according to Onchain Lens. Coinbase Prime is a prime brokerage platform that facilitates large-scale trading and custody services for institutional investors.

South Korean crypto exchange Bithumb is suspected of having accidentally deposited 2,000 BTC into each of several hundred user accounts. The incident is believed to have caused the price of Bitcoin on the exchange to plummet by over 10% compared to other exchanges at around 10:30 a.m. UTC today. According to multiple cryptocurrency communities, the error may have occurred when Bithumb intended to distribute a 2,000 won prize for a random box event but mistakenly entered the unit as BTC. Some users who received the funds reported seeing a message stating their accounts were blocked from service. Bithumb has not yet issued an official statement on the matter.

An analysis suggests that if Bitcoin fails to show a meaningful rebound within one month, it could face a structural and sustained wave of institutional selling. Ju Ki-young, CEO of CryptoQuant, made the observation in response to the daily trading volume of BlackRock's spot Bitcoin ETF (IBIT) reaching $10 billion. He argued that unless the recent sell-off was due to forced liquidations, it is unlikely that an institution would sell such a large volume at once. Ju warned that forced liquidations are dangerous in the Bitcoin market as they can create a chain reaction. He explained that if funds are liquidated and prices fall, miners could go bankrupt and even retail investors who held on would face losses. Ju stated that if a meaningful rebound does not occur from the current price levels within a month, a structural and continuous flow of institutional selling will likely follow. He added that if institutions sell off at the bottom, their return to the market is unlikely, and it would take a significant amount of time to restore market confidence.

The price of Bitcoin experienced a flash crash on the South Korean exchange Bithumb, plummeting to 81.1 million won around 10:30 a.m. UTC today. At its lowest point, the price was over 16% below the global average. The price has since recovered to 97.15 million won.

Whale Alert reported that 250,000,000 USDC has been transferred from an unknown wallet to Binance. The transaction is valued at about $250 million.

Memecoin launchpad Pump.fun has acquired crypto trading terminal Vyper, Cointelegraph reported. Vyper's core functions are scheduled to be phased out on Feb. 10. The acquisition price was not disclosed.

Binance has announced it will list TRIA perpetual futures today at 12:15 p.m. UTC, offering up to 50x leverage.

Cardano (ADA) founder Charles Hoskinson has stated he has no plans to sell his cryptocurrency holdings despite facing over $3 billion in unrealized losses, The Block reported. Speaking during a public live broadcast in Tokyo, Japan, he noted that he has likely lost more money than anyone in his audience. Hoskinson added that while the market situation could deteriorate further, what ultimately matters is one's ability to enjoy the process and find ways to have fun.

Whale Alert reported that 1,060,090,943 USDT has been transferred from Aave to HTX. The transaction is valued at about $1,060 million.

Infinite has announced a postponement of the first unlock for its IN token, moving the date from Feb. 7 to May 7. The unlock for core contributor tokens will also be delayed by three months and will be subject to a three-year vesting period.

According to CoinNess market monitoring, BTC has risen above $66,000. BTC is trading at $66,076.11 on the Binance USDT market.

Lookonchain has identified three major on-chain liquidation zones for Ethereum (ETH). - Trend Research holds 356,150 ETH ($671 million) at risk of liquidation in the $1,562–$1,698 price range. - Ethereum co-founder Joseph Lubin and two anonymous whales hold 293,302 ETH ($553 million) at risk in the $1,329–$1,368 range. - 7 Siblings holds 286,733 ETH ($541 million) at risk in the $1,029–$1,075 range.

Daily trading volume on decentralized perpetual futures exchanges (Perp DEXs) surpassed $70 billion on Feb. 5, the second-highest figure on record, Wu Blockchain reported, citing data from DefiLlama. The volume marks the highest level since the market downturn on Oct. 10, 2025. Hyperliquid (HYPE) led the activity with $24.7 billion in volume, followed by Astar (ASTER) and edgeX with $10 billion and $8.7 billion, respectively.

Although Bitcoin has fallen by more than $30,000 in two months, cryptocurrency fundamentals remain unchanged, CryptoPotato reported, citing an analysis by the Kobeissi Letter. The analysis points to Oct. 10 of last year as the starting point for the decline, arguing that the liquidation of $19 billion in leveraged positions on that single day fundamentally altered the market structure. Following this event, Bitcoin traded sideways for two months from mid-November to mid-January, but the market remained unstable with repeated bidirectional liquidation gaps. Since Jan. 24 alone, an additional $10 billion in leverage has been liquidated, equivalent to 55% of the forced liquidations seen on Oct. 10. Market depth, the ability to absorb large orders, has also fallen by over 30% from its October high to its lowest level since the FTX collapse in 2022. The Kobeissi Letter suggested that large institutions may have sold off or been forcibly liquidated during the October crash. The analysis predicts that a market bottom will form when a capitulation in both price and leverage coincides with extremely bearish sentiment, a point it believes is not far off.

Bybit has announced plans to delist MILK.

Bitwise CEO Hunter Horsley has stated that many institutional investors see the recent Bitcoin downturn as an attractive market entry opportunity, The Crypto Basic reported. In an interview with CNBC, he explained that Bitcoin ETF trading volume has surged to three to four times its usual level, indicating a significant expansion of institutional participation. In a recent conversation with an asset manager, I learned that their clients are actively looking for the right moment to deploy capital, Horsley said. Previously, Bitwise Chief Investment Officer (CIO) Matt Hougan, referencing the crypto winter that began early last year, had projected that U.S. economic growth, legislative discussions on market structure, and the potential for nation-state Bitcoin adoption could serve as catalysts for a future rebound.

South Korean crypto exchange Bithumb has announced it will temporarily suspend deposits and withdrawals for Flow (FLOW) starting at 10:00 a.m. UTC today to support a network upgrade.

U.S. investment bank Jefferies has stated that despite the recent sharp decline in the cryptocurrency market, there are still no signs of a short-term bottom. The bank attributed the downturn to global risk-off sentiment and liquidity adjustments stemming from capital outflows. While a bottom has yet to emerge in the short term, Jefferies noted that long-term positive drivers for the market include an improving regulatory environment, maturing infrastructure, and greater participation from traditional financial institutions. The analysis concluded that any rebound will likely be led by projects with genuine revenue-generating mechanisms.

AI-based Web3 project Quack AI and the 0xU Hong Kong Blockchain Club will co-host "0xU - Quack AI The Campus: AI & Web3 Builders," a side event for Consensus Hong Kong 2026. The event will take place at the Hong Kong University of Science and Technology (HKUST) from 6:00 a.m. to 10:00 a.m. UTC on Feb. 12. The event will feature networking and insight sessions for AI and Web3 builders and researchers, focusing on key trends such as autonomous agents, ZKML, privacy technology, and practical system design. The agenda includes a Curation Room and presentations from industry speakers, with Bitget CEO Gracy Chen scheduled to participate in a session. Sponsors include Bitget, Noos Protocol, Piggycell, Ave.ai, ELLIPAL, and Fair Shares. CoinNess is participating as a media partner.

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 a hidden 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.

Trend Research 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.