Today's Cryptocurrency News (February 6) | Bitcoin briefly falls below $60,000; BlackRock Bitcoin ETF trading volume exceeds $10 billion

This article summarizes cryptocurrency news as of February 5, 2026, focusing on the latest Bitcoin updates, Ethereum upgrades, Dogecoin trends, real-time crypto prices, and price forecasts. Major Web3 events today include:

1. Aave founder Stani: Over $450 million in collateral liquidated across the Aave protocol last week

Aave founder Stani posted on X stating that the Aave protocol and the entire DeFi sector experienced a resilient week. Over the past seven days, the protocol liquidated collateral worth over $450 million across multiple networks. For a lending protocol with over $50 billion in total value, this accounts for approximately 0.9% of total deposits at that time. Meanwhile, Aave continues to generate additional income.

Bad debt may occur during lending, but Aave has built-in mechanisms to handle such situations. Its resilience is supported by a broad, autonomous liquidation network. Additionally, a new liquidation engine will be released for Aave V4, offering greater flexibility and performance.

Stani believes DeFi wins through resilience, transparency, and superior cost structures, and these systems should be applied to all assets in both crypto and traditional finance.

2. Bloomberg analyst warns of “Trump effect” backlash hitting crypto markets; Bitcoin drops below $60,000, possibly not bottomed out yet

Bitcoin price briefly dropped near $60,000 this past Friday, with the one-month decline expanding to about 30%, accompanied by over $2 billion in forced liquidations. From its all-time high, the current price has fallen nearly 50%, erasing almost all gains since Donald Trump was elected U.S. President.

Bloomberg industry strategist Mike McGlone bluntly stated on a program that cryptocurrencies are experiencing a backlash from the “Trump effect.” He believes that Trump’s 2024 victory and public support for crypto triggered a rush of speculative capital, which then accelerated the bubble burst. “This is a classic boom-bust cycle,” McGlone said.

The current sell-off is also linked to weakening U.S. macro data. The latest employment report showed the worst job growth since 2009, with over 100,000 unemployed, and major stock indices declined in tandem. Market risk appetite has cooled rapidly, with crypto assets bearing the brunt.

Structurally, McGlone pointed out that Bitcoin faces competition from numerous altcoins. Unlike gold, Bitcoin is not the only choice; hundreds of millions of tokens divert funds. For example, Shiba Inu still has a market cap of billions, and Dogecoin is even larger, which intensifies selling pressure in a bear market.

Macroeconomic policy uncertainty has also amplified volatility. News that Trump nominated Kevin Warsh as the next Fed Chair sparked concerns over hawkish policies. Fabian Dori, Chief Investment Officer at Sygnum Bank, also noted tightening global liquidity and pressure on risk assets.

Furthermore, Dori mentioned that the four-year cycle effect from Bitcoin halving is at play, with some long-term holders beginning to realize gains. However, he remains bullish long-term, believing that after panic releases, the crypto market will gradually recover.

3. Satoshi’s Bitcoin holdings shrink by $60 billion, previously worth over $130 billion

As Bitcoin’s price retreated from its late-2025 highs, the massive Bitcoin holdings attributed to its mysterious creator Satoshi Nakamoto also shrank significantly. At current market prices, the approximately 1.1 million BTC under Satoshi’s control are worth about $71 billion, down from over $130 billion at peak a few months ago, evaporating over $60 billion.

This change is not due to selling. On-chain data shows that wallets associated with Satoshi have been dormant since around 2010, with no large transfers. These addresses are considered “effectively locked,” representing about 5% of total Bitcoin supply, and are the largest known single holdings. As such, they are viewed as “sleeping Bitcoins” that will not enter circulation, impacting market structure long-term.

When Bitcoin hit new all-time highs at the end of 2025, Satoshi’s holdings were among the most valuable crypto portfolios globally. Now, with the price correction, their value has nearly halved, demonstrating Bitcoin’s high price elasticity. Even without any activity from the largest holder, their nominal wealth fluctuates sharply with market cycles.

Since stepping back from public view in 2011, Satoshi has never made any statements about their identity or assets. This prolonged silence makes their wallet part of Bitcoin’s narrative. Some speculate they are still alive; others believe they have passed away. Regardless, these dormant addresses symbolize the long-term holding philosophy of Bitcoin.

This decline in paper wealth serves as a reminder: Bitcoin is not a one-way asset; its value adjusts continually with macro conditions, market sentiment, and cycles. Satoshi’s “unchanged coin” may be the most direct illustration of this volatility.

4. XRP price plunges 10%, Peter Brandt warns: Bitcoin may retrace to $42,000

The crypto market continues to weaken, with XRP leading the decline among major digital assets on Friday, dropping about 10% in 24 hours and briefly falling below $1.30, hitting a new low since November 2024. Market sentiment has turned cautious, driven by veteran trader Peter Brandt’s latest forecast on social media, suggesting Bitcoin could still dip to around $42,000.

Currently, Bitcoin has repeatedly fallen below the critical $60,000 level, with short-term pressure evident. Brandt describes the current trend as a “banana peel correction,” meaning prices drop rapidly and unexpectedly. He believes $42,000 could serve as a medium-term support; if broken, it would put greater pressure on the entire crypto market.

Affected by Bitcoin’s weakness, most major tokens also declined. Ethereum fell near $1,700, while SOL, DOGE, and ADA experienced varying degrees of correction. XRP was the first to break key psychological levels. Funds also show defensive tendencies: recent U.S. Bitcoin ETF and Ethereum ETF saw significant net outflows, while XRP and SOL-related products experienced small net inflows, indicating some capital is trying to position at lower levels.

Technically, XRP’s momentum indicators continue to decline. MACD histogram remains below zero, indicating dominant bearish force; RSI is approaching oversold territory, suggesting a potential short-term rebound. However, if the price falls below $1.20, support may test $1.10. Conversely, a resurgence of bullish momentum above $1.40 could ease downward pressure.

Until Bitcoin stabilizes, market volatility is likely to stay high. Investors are closely watching macro liquidity and on-chain fund flows to determine whether this correction will deepen into a larger adjustment cycle.

5. MARA stock plunges nearly 19% in one day, $87 million worth of Bitcoin transfer sparks “miner selling pressure” concerns

As Bitcoin’s price sharply declined, mining company MARA Holdings exhibited unusual on-chain activity, with its stock plunging nearly 19% in a single day. Data shows MARA transferred a total of 1,318 BTC to multiple platforms and custodians within 10 hours, valued at about $87 million at that day’s prices, sparking market concern over “forced miner sales.”

The largest transfer was 653.773 BTC to digital asset management firm Two Prime, followed by an additional nearly 9 BTC. Two large transfers also moved BTC to wallets associated with BitGo, totaling about 300 BTC. Additionally, 305 BTC were transferred to a newly registered wallet with undisclosed ownership.

These transfers occurred amid Bitcoin’s short-term dip below $60,000 and a chain reaction of liquidations in the crypto market. On-chain analysts note that while large transfers do not necessarily mean spot selling, in a liquidity-tight environment, unusual activity from miner wallets is often seen as a potential supply signal, amplifying market panic.

Transfers related to Two Prime have attracted extra attention because of their credit trading nature. If these bitcoins are used as collateral or in structured strategies, it does not necessarily mean they are entering spot circulation. Industry-wise, miners face severe operational pressures. Bitcoin’s price has retraced nearly half from its 2025 high and is about 20% below industry-estimated average production costs.

When Bitcoin trades below mining costs, history shows miners are often forced to sell inventory to maintain cash flow, which can further deepen declines. On-chain data shows miner daily revenue has dropped significantly, with profit margins shrinking.

This impact has weighed on the mining sector, with many listed miners’ stocks declining in tandem. The market is closely monitoring on-chain miner activity to assess whether sustained “forced selling” will occur. If large miners continue to release Bitcoin, it could further suppress prices in an already fragile environment.

6. Bitcoin retracement intensifies, ARK accumulates COIN, Circle, and mining stocks

Amid Bitcoin’s sharp decline and rising market tension, ARK Invest CEO Cathie Wood has increased holdings in several crypto-related stocks against the trend. As Bitcoin first fell below $70,000 in 2024, market volatility surged, but ARK’s moves are seen as a long-term bet on the industry’s value.

On February 3, ARK bought shares of companies including COIN, Circle, BitMine Immersion Technologies, and Bullish through multiple funds. Notably, ARK invested over $1.3 million in 3,510 shares of COIN. Circle, issuer of USDC, was also increased by ARK’s two core funds, totaling about $8.7 million. ARKK bought 34,342 shares; ARKF bought 8,536 shares.

Meanwhile, ARK added about $6 million to acquire 145,488 shares of BitMine, led by Tom Lee, involved in Bitcoin mining and Ethereum asset management. Bullish was also added, with 125,218 shares purchased, worth about $3.5 million. The company was early supported by Block.one and received investment from Peter Thiel’s Thiel Capital.

On February 4, ARK continued buying shares of Bullish and Circle, and increased its holdings in its own Bitcoin ETF products. By February 5, COIN accounted for 4.29% of ARK Innovation ETF holdings, ranking fifth; Circle, BitMine, and Bullish weights also increased.

These moves occurred amid a sharp crypto correction. On February 5, Bitcoin briefly dropped to about $67,700, down nearly 8% in 24 hours, with total global crypto market cap falling to around $2.59 trillion. Sentiment indicators show the market entered “extreme fear,” with daily liquidations exceeding $750 million.

In this high-volatility environment, Wood’s continued buying is seen by some investors as a long-term bullish stance on blockchain infrastructure and crypto finance. Despite short-term price pressures, ARK’s allocations suggest an early positioning for the next industry cycle.

7. US layoffs hit 17-year high! Federal Reserve may shift to easing, Bitcoin bottom signals emerge

The US labor market is rapidly cooling, with recent layoffs raising macro concerns and offering new policy considerations for Bitcoin. Challenger, Gray & Christmas reports that in January, US companies announced layoffs totaling 108,435, a 205% increase from December and the highest since 2009.

Compared to the same period last year, this is up 118%, indicating weakening labor demand. Tech sector layoffs reached 22,291, led by Amazon; logistics giant UPS announced 31,243 layoffs. Challenger’s labor expert Andy Challenger states that January is usually not a peak for layoffs, so such a large planned reduction suggests corporate pessimism about the 2026 economy.

This trend contrasts with official US non-farm payroll data, which still shows relative stability. But increasingly, private sector data signals divergence. For example, blockchain-based inflation tracker Truflation shows US real-time inflation below 1%, while official CPI remains above the Fed’s 2% target.

Multiple “unofficial indicators” weakening together have prompted markets to reassess the Fed’s policy path. The current benchmark rate remains at 3.5–3.75%, but signs of economic slowdown may push policymakers toward easing. This generally supports risk assets.

Bitcoin has fallen nearly 50% from its peak above $126,000 and is in a consolidation phase. Some analysts believe that if rate cuts are expected to intensify, Bitcoin could establish a medium-term bottom.

Policy outlook remains divided. JPMorgan expects rates to stay unchanged this year, while other banks forecast at least two rate cuts. Some economists suggest that Trump’s nominee for Fed Chair, Kevin Warsh, could push for larger policy shifts before midterm elections. As macro signals evolve, Bitcoin stands at a critical juncture.

8. Circle partners with Polymarket to upgrade market infrastructure comprehensively

Leading prediction platform Polymarket announced a partnership with Circle to officially begin migrating from the bridge version USDC.e to native USDC on Polygon. This phased transition aims to optimize settlement structure, reduce systemic risk, and improve overall trading stability over the coming months.

Historically, many DeFi platforms relied on cross-chain bridges for stablecoin circulation, but bridges involve complex smart contracts and external verification, often viewed as high-risk points. Data shows that since 2020, DeFi has suffered over $2 billion in losses from bridge exploits. Moving to native USDC reduces reliance on third-party bridges, fundamentally lowering attack surfaces.

Unlike bridged assets, Polygon’s native USDC exists directly on-chain, without wrapping or locking. This structure reduces operational layers and shortens settlement paths, making transactions more efficient and controllable. For prediction markets, security and liquidity are core; this migration will significantly enhance Polymarket’s settlement reliability.

Community feedback is generally positive. Some users believe native USDC will improve fund turnover and reduce uncertainty from smart contract or cross-chain failures. Industry analysts note that more DeFi projects are shifting toward native assets to replace bridged tokens, marking an infrastructure upgrade trend.

Through this partnership, Polymarket strengthens its settlement system and provides a replicable security model for cross-chain assets. As native stablecoins gradually replace bridged tokens, the risk structure of prediction markets and the broader DeFi ecosystem is expected to improve continuously.

9. BlackRock Bitcoin ETF trading volume exceeds $10 billion, is the sell-off near its end or the calm before a bigger storm?

Despite Bitcoin’s ongoing weakness, BlackRock’s spot Bitcoin ETF has seen unusual volume. Nasdaq data shows its IBIT traded over 284 million shares in a single day, with a nominal value exceeding $10 billion, setting a new record and signaling a key market indicator during this decline.

This volume more than doubled the previous high on November 21, 2025. On that day, IBIT’s share price fell 13%, breaking below $35 for the first time since October 2024, with a total decline of 27% this year. Bloomberg analyst Eric Balchunas on X said this was the second-largest daily decline since the ETF’s listing, with volume surging alongside price drops, indicating intense market sentiment shifts.

High volume amid sharp declines is often seen as “capitulation selling,” with some institutions viewing it as a potential bottom formation. However, fund flows remain cautious. Data shows BlackRock has recently transferred some tokens to adjust positions during the downturn, leading to net outflows from its ETF over the past week.

Selling pressure is not limited to ETFs. Miner MARA Holdings transferred about 1,317 BTC worth roughly $87.4 million, including a single transfer of over $43 million to Two Prime-related addresses. The company’s stock fell 18% in a day, correlating with Bitcoin’s decline. Meanwhile, firms like Metaplanet have publicly stated they will continue accumulating, contrasting sharply.

Bitcoin briefly dipped to around $60,000 during this correction. Different choices by institutions and companies reflect a market in a confidence rebuilding phase. Whether high volume indicates panic selling remains to be seen, but ETF fund movements are now a key indicator for the next trend.

10. Bitcoin Core developer Gloria Zhao resigns from her maintainer role

According to Cryptopolitan, Bitcoin Core developer Gloria Zhao has resigned from her maintainer role and revoked her cryptographic signing key. She has long focused on mempool validation, transaction relaying, and fee estimation. Her resignation does not affect Bitcoin’s consensus rules, network security, or transaction processing.

The report notes that stepping down and revoking keys is common in open-source projects. Bitcoin Core maintainers are a trusted small group responsible for code review, approval, and signing official releases. Zhao contributed over six years but did not alter Bitcoin’s underlying protocol rules. She has not publicly explained her reasons for leaving.

11. Cardano founder refuses to cash out! Charles Hoskinson reveals crypto losses exceeding $3 billion but remains optimistic about ADA’s future

Cardano founder Charles Hoskinson disclosed in a live video that he has suffered over $3 billion in paper losses in crypto but refuses to cash out and plans to continue long-term involvement in blockchain development. His statement has sparked strong community interest and reignited discussions on “Cardano’s future prospects.”

Hoskinson said many think he “has enough wealth to withstand losses,” but in reality, his risks and losses are far higher than average investors. “It’s easy to cash out, but I didn’t get into this industry for money,” he emphasized, valuing technological mission and industry impact over short-term gains.

He also mentioned that he refuses suspicious partnership offers, prioritizing integrity over influence, to avoid crises like FTX or other financial scandals. He criticized some industry leaders for supporting flawed “CLARITY legislation” for power and capital, which could harm the long-term health of crypto ecosystems.

Regarding market conditions, Hoskinson encourages the community to endure the current downturn with patience and focus on genuine development. He states that blockchain innovators are driving global financial and digital infrastructure transformation.

On the project level, despite overall market pressure, Hoskinson remains confident in Cardano’s technical roadmap. He mentioned ongoing progress on Hydra, Leios, and privacy project Midnight, which will enhance network performance, scalability, and real-world adoption, providing long-term support for ADA.

Having previously been an Ethereum co-founder, Hoskinson left in 2014 and launched Cardano through IOG in 2017, emphasizing scientific research and sustainable blockchain design. He also praised Vitalik Buterin and Anatoly Yakovenko as key allies in crypto adoption.

This speech demonstrates his long-term commitment and again draws market attention to Cardano’s price trajectory and ecosystem development.

12. Bitcoin ETF loses nearly $1 billion in two days, BTC briefly drops below $60,000, “paper Bitcoin” controversy resurfaces

Bitcoin spot ETF continues to see outflows, sparking intense debate over price and liquidity impacts. Data shows Thursday’s ETF net outflow was $434 million, with another $545 million outflow on the previous day, totaling nearly $1 billion over two days. Despite a $561 million inflow earlier in the week, the overall net outflow for the week is about $690 million.

As funds pressure Bitcoin’s price, it also weakened, briefly dropping to $60,000 and hitting a new low since October 2024, currently around $64,900. The exact cause of the decline remains uncertain, but ETF fund flows are considered an important sentiment indicator.

Since the launch of the spot Bitcoin ETF in January 2024, institutional interest has been viewed as a key driver of mainstream adoption. However, recent “paper Bitcoin” controversies have resurfaced. Technical analyst Bob Kendall notes that the same Bitcoin can now support multiple financial exposures simultaneously, resembling a “fractional reserve pricing system” rather than a fully backed physical asset.

Similar concerns have been raised before. Hardware wallet analyst Josef Tětek warned that such products could generate large amounts of nominal Bitcoin without actual physical backing, suppressing real supply and demand.

Despite ongoing debate, ETF assets remain substantial. Currently, spot Bitcoin ETF assets total nearly $81 billion, with about $54.3 billion in net inflows, indicating sustained institutional interest but more cautious pace.

In other assets, Ethereum ETFs saw about $80.8 million in outflows, while XRP and SOL-related ETFs experienced small inflows. In the short term, ETF fund flows and price movements will continue to interact as key market signals.

13. Bitcoin still doubles down! Metaplanet aggressively buys 35,102 BTC amid the plunge

In the context of the sharpest crypto market correction since 2022, Japanese listed company Metaplanet remains committed to a “Bitcoin-first” strategy. CEO Simon Gerovich stated on social media that current volatility will not change their established plan to steadily increase Bitcoin holdings and expand revenue sources for future growth.

Affected by market sentiment, Metaplanet’s stock fell 5.56% to 340 yen on the Tokyo Stock Exchange. Despite the decline, the company remains among the top global public Bitcoin treasury holders, ranking fourth by holdings, behind Strategy, MARA Holdings, and Twenty One Capital. Latest data shows Metaplanet owns 35,102 BTC.

Bitcoin’s price has fallen about 50% from its October 2025 high of $126,080, now hovering around $65,000. Sentiment indicators also declined, with fear and greed index dropping to lows not seen since the Terra collapse in 2022. Derivatives markets experienced over $1.8 billion in daily long liquidations, further amplifying downward pressure.

Major Bitcoin holders are generally under unrealized losses. As the largest holder, Strategy reported a net loss of about $12.4 billion in Q4 2025, with an average buy-in above current prices. Nonetheless, the company continued buying 855 BTC this week, reaffirming its long-term conviction.

Similarly, Metaplanet has not signaled any reduction. Its average cost basis is around $107,716, with significant unrealized losses, but management emphasizes focusing on long-term value and inflation-hedging properties of assets.

Not only Bitcoin, but Ethereum treasury firms also face pressure. Bitmine holds about 1.17 million ETH, with unrealized losses exceeding $8 billion. Many institutions continue to see crypto assets as long-term strategic holdings despite short-term volatility.

14. Bitwise CEO: The recent crypto market plunge is mainly driven by macro environment, investors are selling all liquid assets

Bitwise CEO Hunter Horsley told CNBC that “Bitcoin has declined by double digits in a single day and is now in a bear market, with nearly 30% drop year-to-date.” He attributes this to the overall macro environment, with investors selling all liquid assets—gold is falling, Nasdaq 100 is falling, Amazon is being sold off.

In recent months, some crypto-specific issues arose, such as outages on offshore exchanges, but currently, crypto assets are trading alongside other high-liquidity assets, moving in sync.

Long-term holders are feeling uncertain; meanwhile, new institutional investors see this as a “second chance,” recognizing prices they thought they’d missed forever. He believes we are in a transitional phase. Ultimately, crypto remains a small asset class, with most investors yet to fully allocate. The overall long-term outlook remains solid, with current turbulence part of the transition.

15. CLARITY Act accelerates! Scott Bessent firmly states: Those who disagree can move to El Salvador

U.S. Treasury Secretary Scott Bessent delivered a strong message on crypto regulation during a recent Senate hearing. He said that without clear rules, the market will be “handcuffed,” and openly supported the ongoing “CLARITY Act.” When asked about opponents, he bluntly said, “People who don’t comply can move to El Salvador,” showing a tough stance and urgency from U.S. regulators.

The CLARITY Act is viewed as a key framework for U.S. digital asset regulation, aiming to clarify the legal status and compliance boundaries for cryptocurrencies including Bitcoin and stablecoins. Long-standing regulatory uncertainty has hindered strategic planning and exposed investors to legal risks. Bessent’s remarks indicate the Treasury is pushing toward formal regulation from the “gray area.”

In Congress, Senator Cynthia Lummis continues to advocate for crypto legislation. She emphasized that Congress aims to create predictable rules for the market. She even suggested exploring the possibility of using U.S. gold reserves to buy Bitcoin, reflecting serious consideration of integrating crypto into traditional finance.

Despite ongoing support, the “CLARITY Act” faces industry resistance. Some companies worry that provisions on stablecoin yield structures and compliance thresholds could limit profits or innovation. These disagreements slow negotiations but do not alter the regulatory direction.

From policy signals, Bessent’s message is clear: the U.S. is accelerating the development of a unified crypto regulatory framework. If passed, the bill would provide clearer rules for investors, a defined compliance path for stablecoin projects, and a predictable environment for developers. This could be a significant step toward mainstream financial integration.