U.S. CPI: +2.9% YEAR-OVER-YEAR (EST. +2.9%); U.S. CORE CPI: +3.2% YEAR-OVER-YEAR (EST. +3.3%)

Feb 21st — According to Coinbob Popular Address Monitoring, HYPE has rebounded from a $27 low over the past two days, climbing back above $30 today. Meanwhile, the largest bullish whale in HYPE’s on-chain space — “Hyperliquid early contributor Loracle” — has begun continuously cutting its HYPE long positions to take profits. As of press time, the whale’s HYPE position value has dropped to $46.2 million, with an average entry price of $24.55 and an unrealized profit of roughly $8.6 million. Small-scale position cuts are still underway. The whale opened a 5x leveraged HYPE long position on Jan 12, with an average entry price of $22. After gradually adding to the position, its peak unrealized profit hit $16 million. Today marks the first profit-taking move since the position was initiated. Loracle (X: @loraclexyz) — formerly Laurent Zeimes — is active in the Hyperliquid ecosystem, recognized as an early contributor, founder of Hypurrfun, and most recently involved in Hyperliquid’

On February 21st, Binance will launch pre-market trading for OPN USDT perpetual futures contracts.

On February 21, Zhipu—owner of the GLM Coding Plan AI programming subscription service—released an apology and unveiled a resolution and compensation plan. Zhipu cited three key issues behind the revisions: 1. Lack of rule transparency; 2. Delayed phased rollout (grayscale release) of GLM-5; 3. Clunky design for the legacy user upgrade process. After GLM-5’s launch, traffic outpaced projections, and scaling efforts failed to keep pace. The company had planned to roll out GLM-5 gradually in the order of Max, Pro, and Lite users, but this timeline was not met. Current access status: - Max users have full access; - Pro users have access but may face rate limiting during peak hours due to high cluster load; - Lite users will gain access gradually during the post-holiday phased rollout (grayscale phase). Zhipu is offering refunds to affected Lite and Pro users.

February 21 — Per GMGN monitoring, Base ecosystem meme coin KellyClaude has topped a $10 million market cap, with a 24-hour price jump of 38.7% and a 24-hour trading volume of $1.6 million.

BlockBeats reminds users that meme coins are highly volatile, typically fueled by market sentiment and meme buzz, and lack tangible value or real-world use cases. Investors are advised to exercise caution amid these risks.

On February 21st, Kolten—DeFi Marketing Lead at Aave Labs—noted that Aave is not currently rushing to replace V3 with V4. V3 will continue operating normally in the foreseeable future, even after V4 launches. Over the past year, Aave Labs has actively promoted V3 and engaged with integration projects built on the V3 iteration. Despite V4’s upcoming release, the team has not sought to slow V3’s growth. Post-V4 launch, a gradual rollout strategy will be implemented: deposit limits will be introduced and gradually lifted.

February 21st Crypto analyst Murphy noted that analyzing on-chain data across **price and time dimensions** suggests the bear market bottom is near. ### Price Context For reference, look at the last cycle: In June 2022, BTC tumbled to ~$17k—nearly touching the final absolute bottom of ~$15k, signaling we’re already in the "bear bottom zone" now. But it took 7 full months to fully exit that zone and finish bottoming out back then. Right now, prices are creeping closer to that bottom zone—but there’s still a ways to go on the time front. ### Key Metric: Conviction Buyers (CBs) These are crypto’s sharpest "diamond hands": They buy on dips, sell into rallies. Put simply: **Bottoms are built by CBs, not just bought at by them.** As of February: - CBs hold 3.48 million BTC → **shattering their cycle-high position** - Since January, they’ve added 1.22 million BTC → *Way more* than during the 2021 May 19 crash, LUNA collapse, or FTX meltdown. Plus: BTC’s current price