BREAKING: $435 million has been liquidated from the cryptocurrency market in the past 12 hours.

2025.01.13 21:51:58

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10X Research: This Sell-Off Wave Is Driven by ETF Pressure and Forced Liquidations, Bitcoin Could Bottom Out Around $50,000

February 7th Main selling pressure in the crypto market this week stemmed from Bitcoin spot ETF outflows, forced liquidations tied to sharp price drops, and collateral impacts from altcoin sell-offs—factors that amplified volatility. Some investors stepped in to buy the dip, however, sparking a rapid short-term rebound. Most market participants still remain cautious about whether a bottom has been reached. Crypto research firm 10X Research noted Bitcoin could see a brief countertrend rebound or consolidation in the near term—but may hit a new low this summer. Markus Thielen, the firm’s research director, estimates the subsequent low could fall to $50,000, or even trade in a $40,000-$50,000 range. (CNBC)

22 minutes ago

Approximately $560,000 CYS worth of value was deposited into Gate from the unlocking contract via an intermediate address

**On-chain Alert (Feb 7)** Per on-chain monitoring data from onchainschool.pro, ~$560k worth of CYS tokens were transferred from 4 wallets to exchange Gate over the past 30 minutes. These tokens trace back to multiple wallets that previously received funds from a shared ownership contract. Separately, centralized exchanges (CEXs) processed large CYS withdrawals totaling ~$3.3 million in the past week. The tokens are currently held in user wallets.

22 minutes ago

Despite the cryptocurrency market downturn, the total market capitalization of stablecoins remains high, with a growth of over 50% in January, surpassing USD1 billion

February 7th — Over the past two weeks, the crypto market has cooled off, with total cryptocurrency market capitalization dropping sharply below $2.4 trillion. Still, the stablecoin market cap remains elevated. Per DefiLlama data, the total stablecoin market cap now stands at $307.152 billion, holding near all-time highs. USDT currently holds a 60.28% market dominance. Notably, the WLFI-backed stablecoin USD1 has seen significant growth: its circulating market cap jumped 50.64% over the past month to $5.217 billion.

22 minutes ago

Yihui's Trend Research Reports ETH's Total Loss in This Round to be Approximately $734 Million

February 7th — According to Cinder Statistics, Trend Research has completed its liquidation, with its final Ethereum (ETH) loss totaling approximately $734 million. **Key Trade Breakdown:** 1. The firm went long 231,000 ETH at an average price of $2,667 and liquidated at $4,027, realizing a $315 million profit. 2. It also went long 651,500 ETH at an average $3,180, but was liquidated at $2,053, racking up a $734 million loss. Notably, some reports note the fund did not suffer an overall loss — it merely gave back most of its prior profits, as gains from other tokens (e.g., WLFI and FORM) offset the ETH shortfall.

22 minutes ago

The NBA lacks clear guidelines for on-chain prediction markets; "The Greek Freak" becomes a shareholder in Kalshi, raising potential conflict of interest concerns

On February 7, The New York Times reported that on-chain prediction platforms operate in an emerging space with no clear NBA regulatory rules, placing the sector in a gray area. NBA Commissioner Adam Silver now faces a key dilemma: whether players converting their trades into financial products violates league regulations. Reports indicate Giannis Antetokounmpo—nicknamed "The Greek Freak"—specifically announced his stake in sports prediction platform Kalshi Sports after the NBA’s player trade deadline, when all betting markets had settled, thereby avoiding direct compliance scrutiny during the trade window. Wagering on whether Antetokounmpo would be traded before the deadline topped $23.31 million on Kalshi, while the Milwaukee Bucks announced hours prior to the deadline they would not trade the two-time MVP this season.

22 minutes ago

Meme Coin 'I Came in Like a Wrecking Ball' Market Cap Plunges to Below $20 Million in a Short Period, With Nearly 50% Drop in 24 Hours

On February 7, GMGN market data indicates that the market capitalization of the BSC ecosystem meme coin "I Am Here to Fuck" briefly dipped below $20 million. It currently sits at $20.57 million, with a nearly 50% decline over the past 24 hours. Recently, some domestic traditional media outlets have accused the meme coin’s name of being vulgar marketing.

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