If Bitcoin breaks through $86,000, the mainstream CEX aggregate short liquidation intensity will reach 9.12 billion

On Feb. 6, data from Binance shows the USDT over-the-counter (OTC) price briefly surged to 7.4 CNY, and is currently trading at 7.28 CNY. The current USD-to-CNY exchange rate stands at 6.94, with a USDT premium of 4.89%.

**Strategy Inc. Releases Q4 & Full-Year 2025 Financial Results** On February 6th, Strategy Inc. announced its Q4 and full-year 2025 financial performance, with key updates below: ### Bitcoin Holdings & Metrics - As of February 1, 2026: Held 713,502 bitcoins (total cost: $54.26B; average cost: ~$76,052/coin) - 2025 Fiscal Year BTC Yield: 22.8% - Annual BTC Increment: 101,873 coins - BTC-Denominated Revenue: ~$8.9B - As of January 30th: Market value of Bitcoin holdings: ~$59.75B ### Capital Markets & Financing - 2025 Total Fundraising: $25.3B (largest U.S. stock issuer; ~8% of total U.S. equity financing) - Completed 5 preferred stock IPO rounds: Raised $5.5B - STRC Digital Credit Products: Scale expanded to $3.4B; current dividend yield: 11.25% - USD Reserve: Established $2.25B reserve (covers ~2.5 years of dividend/interest expenses) ### Financial Performance - Q4 Operating Loss: $17.4B (primarily driven by unrealized fair value losses on Bitcoin) - Q4

On February 6, Bitcoin briefly dipped below $61,000 this morning, pushing the unrealized loss of Strategy — the world’s largest Bitcoin treasury firm — to a new all-time high of $10.16 billion at one point. Strategy holds 713,502 BTC with an average cost basis of $76,052, totaling approximately $54.26 billion in acquisition costs.

On February 6, per OnchainLens data, Trend Research transferred 8,000 ETH to Binance, valued at roughly $14.81 million. To date, the firm has sent a total of 196,588 ETH (worth approximately $441.68 million) to Binance for sales and loan repayments.

Bitcoin rebounded above $63,000 on February 6, per HTX market data, with its 24-hour decline narrowing to 13%.

Per Coinglass data, as of February 6th, over the past hour, a total of $555 million in positions were liquidated across the entire crypto network—$483 million from long positions and $72.184 million from short positions.