Bitcoin Drops Below $78,000

On February 3, Binance Wallet announced the launch of a BNB Smart Chain Transaction Competition on Binance Alpha. During the event, users can trade three tokens—FIGHT (FIGHT), Baby Shark Universe (BSU), and Merlin Chain (MERL)—via either Binance Wallet (non-custodial) or Binance Alpha to qualify for exclusive token rewards. The competition runs from 9:00 PM UTC+8 on February 3, 2026, to 9:00 PM UTC+8 on February 17, 2026.

As of February 3rd, Coinglass data shows that over the past 24 hours, the total net outflow of Ethereum (ETH) from centralized exchanges (CEXs) hit 80,800 ETH. The top three exchanges by ETH outflow were: - Binance: 61,100 ETH - Kraken: 24,900 ETH - Coinbase Pro: 16,900 ETH Additionally, Bitfinex led the inflow list with an ETH inflow of 30,600 ETH.

On February 3rd, data from Coinbob Popular Address Monitoring indicates that the address linked to "Buddy" Huang Licheng (0x020c...) underwent partial liquidation of both its HYPE and ETH long positions simultaneously, with the total value of the liquidated positions reaching approximately $1.4367 million. Specifically, 17,765.77 HYPE tokens (worth roughly $621,000) were liquidated from his HYPE long position, leaving the remaining position valued at $2.1814 million. For his ETH long position, 358 ETH (valued at around $815,700) were liquidated, with the remaining position now worth $3.1895 million. After the liquidations, the total assets in the address’s smart contract account dropped to $218,500. The address belongs to Taiwanese artist Huang Licheng, who rose to fame early on for holding Bored Ape Yacht Club (BAYC) NFTs. He has been actively trading on the Hyperliquid platform since August 2025, favoring transactions involving tokens like HYPE and ETH. Recently, his trades hav

As of February 3rd, DefiLlama data shows Hyperliquid’s trading volume has surged to $117.8 billion (holding the top spot), while EdgeX has recently seen active trading volume—surpassing Lighter to now rank third. Despite a sharp rise in trading volume across major perpetual DEXs, open interest has remained stable. This reflects current market activity is dominated by position turnover and adjustments, with relatively weak momentum for new position openings. Key 24-hour metrics for top Perp DEXs are below: - **Hyperliquid** (https://app.hyperliquid.xyz/join/NTOD): ~$117.8B trading volume, ~$44.0B TVL, ~$60.2B open interest - **Aster** (https://www.asterdex.com/en-US/referral/aboter): ~$63.8B trading volume, ~$11.4B TVL, ~$20.8B open interest - **EdgeX**: ~$54.1B trading volume, ~$2.00B TVL, ~$8.61B open interest - **Lighter** (https://app.lighter.xyz/?referral=70045843): ~$44.4B trading volume, ~$9.53B TVL, ~$11.3B open interest - **Extended**: ~$29.6B trading volume, ~

On February 3, crypto firm Wintermute published an article noting Bitcoin has fallen below the $80,000 mark for the first time since the April 2025 Trump tariff event. Over the weekend, cumulative liquidations in the crypto market hit $2.55 billion—marking the 10th largest liquidation event in history. Market consensus holds this downturn wasn’t triggered by a single negative factor, but by the confluence of multiple macro catalysts: - Disappointing earnings from the U.S. stock market’s “Magnificent Seven” (Mag7) tech giants eroding the AI narrative; - The unexpected nomination of Kevin Warsh as Federal Reserve Chair; - A sharp precious metals pullback, with silver briefly plunging 26% intraday and triggering a CME circuit breaker—amplifying overall risk-off sentiment. Analysts note Bitcoin broke below its $85,000–$95,000 trading range (where it fluctuated for two months) as weekend illiquidity and high-leverage positions amplified selling pressure. Currently, crypto assets a

Per Coinglass data as of Feb 3, Ethereum (ETH) liquidation metrics across major centralized exchanges (CEXs) highlight two critical price levels: - A drop below $2,200 would trigger $476 million in cumulative long liquidation strength. - Conversely, a break above $2,400 would lead to $944 million in cumulative short liquidation strength. BlockBeats Note: Liquidation charts do not show the exact number or value of contracts subject to liquidation. The bars on these charts instead reflect the relative importance of each liquidation cluster compared to adjacent clusters—aka "strength." In plain terms, the chart indicates how impactful hitting a specific price will be: Higher bars signal a more intense reaction from a liquidity cascade when that price level is reached.