Derivatives Data

Last week, Bitcoin experienced significant volatility, with daily drops of over 10%, nearly falling below $60,000. Although it later rebounded to $70,000, analysts believe that a true "capitulation sell-off" has not yet occurred, as the futures basis spread remains unchanged and does not indicate extreme market pessimism, suggesting that Bitcoin may still have further downside potential.

As of February 10, the Hyperliquid platform's 24-hour trading volume was $6.64 billion, leading other platforms. The trading volumes of the remaining platforms did not exceed $4 billion, and the overall open interest reached a nearly 9-month low, indicating a decline in market activity.

ChainCatcher news, according to Coinglass data, if BTC falls below $65,731, the total liquidation strength of long positions on major CEXs will reach $1.21 billion. Conversely, if BTC breaks above $72,520, the total liquidation strength of short positions on major CEXs will reach $1.082 billion.

ChainCatcher reports that, according to Coinglass data, if ETH breaks above $2,115, the total liquidation strength of long positions on major CEXs will reach $719 million. Conversely, if ETH drops below $1,917, the total liquidation strength of short positions on major CEXs will reach $499 million.

BlockBeats News, February 10 — According to HyperInsight monitoring, as Ethereum briefly dropped below $2000, "Maji" reduced some ETH long positions. Currently, they hold 3,500 ETH long positions with an unrealized loss of $180,000. The liquidation price is $1991.01.

Recently, cryptocurrencies like Bitcoin and AI stocks have experienced sharp declines, revealing the risks of narrative-driven investing and the vulnerabilities caused by high leverage. Investors should focus on fundamental analysis, avoid relying solely on story-driven investment strategies, and emphasize valuation and risk management to cope with market volatility.

The crypto market faced declines, with XRP down 2.99% and significant liquidations reported. Future outflows exceeded inflows, suggesting profit-taking. Despite this, XRP saw some fund inflows ahead of upcoming legislative changes and important economic data releases.

Bitcoin's slide through the $65,000 mark and approaching $60,000 resembles a stress test that the market has postponed for a long time. The drop happened quickly enough to force positions to be restructured, while also being wide enough to shift the discussion away from explanations based on a single factor.

BTC (+2.32% | Current price 70,761.7 USDT) BTC is still in the process of rebound and consolidation after a rapid deleveraging drop. Last week, it briefly dipped below $60,000 before gradually recovering and consolidating around $70,000; technically, the MA5 has again supported the price, the MA10 is exerting slight short-term resistance, and the MA30 is slowly rising as a consolidation center. This indicates that the bulls' recovery is effective but has not yet formed a clear trend continuation. The short-term direction still depends on the return of incremental funds or the realization of macro catalysts. The $70,000 mark is a key watershed. If it falls below and cannot rebound back above the MA30 to confirm a valid retest, the market is more likely to turn into a second retracement, with support levels at $68,000 and $65,000. In extreme cases, a revisit to the panic low of $60,000 cannot be ruled out. ETH (+0.04% |

Cryptocurrency Market Overview BTC (+2.32% | Current Price 70,761.7 USDT): BTC is in a phase of oscillation and recovery after a rapid deleveraging drop. Last week, it briefly dipped below $60,000 before rebounding and consolidating around $70,000; technically, MA5 has regained support, MA10 is exerting slight pressure, and MA30 is gradually rising, indicating an effective correction but an unconfirmed trend continuation. In the short term, it still depends on incremental capital or macro catalysts. $70,000 is a key watershed; if it falls below and a rebound fails to hold above MA30 and complete a retest, the market may shift to a secondary retracement. Support levels are sequentially at $68,000 and $65,000, with an extreme scenario of testing the panic low at $60,000 again. ETH (+0.04% | Current Price 2,091.13 USDT): ETH rebounded from the $1,744 low to 2,100

Solana's price approached $90 on Monday, holding onto last Friday's 11% rebound, but it has been consolidating for the third consecutive day. Derivative product data shows retail interest continues to decline, with SOL futures open interest decreasing by 2% to $5.32 billion within 24 hours, and financing rates remaining negative. The US spot Solana ETF experienced an outflow of $11.86 million, and technically, the RSI dropped to 29, indicating an oversold condition.

On February 9th, due to BTC briefly rising to $72,300, the total liquidation across the network reached $93.14 million, with short positions accounting for 81.4%. Hyperliquid platform accounted for 60% of the liquidations, and whale short positions were liquidated for $14.49 million.

Taiwanese rapper Huang Licheng experienced significant losses due to his enthusiasm for trading cryptocurrencies, with his account balance dropping from $50.39 million in September last year to $53,000, a decline of over 99%. He used aggressive 25x leverage to speculate on the bullish market but frequently faced forced liquidations, totaling 252 liquidations, earning him the nickname "Liquidation King."

Bitcoin price accelerates downward to $60,000, with nearly $2.7 billion in liquidations across the network, marking the worst single-day decline since 2022. Although capital outflows are only 6.6%, analysts point out that the 200-day moving average is a key support level. Market liquidity is weak, and there are no signs of a bottom yet, with a potential risk of further decline to $38,000.

XRP plummeted 24% to $1.17, leading the crypto market lower, with $47 million in daily liquidations, and trading volume surged 57% to over $11 billion. The Fear Index dropped to 11, indicating extreme panic, with market capitalization falling from $4.2 trillion to $2.27 trillion. Evernorth's holdings are at a loss of $446 million. Analyst Egrag Crypto warns that if the decline reaches 50-60%, the rebound should be considered a signal to exit.

Bitcoin falls below key support, spot trading volume remains sluggish, and investor losses lead to increased selling. The futures market is undergoing forced deleveraging, institutional capital inflows have significantly weakened, and the market has entered a defensive stance. This article is based on a piece by Glassnode, compiled, edited, and written by Foresight News. (Previous summary: Bitcoin breaks below $70,000! Returns to November 2024 levels, fully retracing Trump-era gains) (Additional background: Arthur Hayes warns of more black swan events for Bitcoin: today's BTC trend looks concerning) Table of Contents Core Insights On-Chain Data Observations Breaking below key support Analysis of potential demand zones Market pressure indicators Comparison with historical cycles Market Dynamics Machine

"Brother Maqi" Huang Licheng engaged in high-leverage trading on the decentralized exchange Hyperliquid. His assets dropped from over $50 million to nearly zero in a short period, with accumulated losses reaching $25.88 million. Despite this, he continued to add positions with low funds and used 25x leverage to trade Ethereum, becoming a trending figure as the "Liquidation King."

The crypto market is getting hit hard again, and this time the damage is spreading fast. Bitcoin is now trading around $70,000, a level not seen since late 2024, and the broader market has followed it straight down. Altcoins are bleeding, sentiment has collapsed, and traders are once again

CN: Cryptocurrency Asset Overview BTC (-4.86% | Current Price 72,302.7 USDT) In the past 24 hours, Bitcoin's price has accelerated its decline. On a 1-hour basis, after breaking below the 73,000 USD key support level, there are no clear signs of a bottom in the short term. The trend continues to retrace gains made since 2025 and tests the critical threshold around 70,000 USD in November 2024. Data from CoinGlass shows that Bitcoin's total liquidation over the past few days has reached $2.56 billion, with leverage positions still being cleared. Meanwhile, policy-level uncertainties further suppress market sentiment: a recent White House meeting aimed at breaking the months-long legislative deadlock between banks and cryptocurrency companies ultimately made no progress, including issues related to stablecoin reward mechanisms.

Bitcoin plummeted 40.8% to $74,680, but four major indicators show it’s unlikely to fall further. U.S. Treasury yields are stable at 3.54%, futures basis is at 3% and not inverted, ETF outflows amount to only $3.2 billion, accounting for just 3%, and MicroStrategy holds $1.44 billion in cash with no liquidation risk. Oracle raises $50 billion to ease concerns over tech stocks.