Spot Gold Reclaims $4800 Per Ounce
On February 3, per Bitget data, spot gold hit $4,800 per ounce—up $130 intraday—while spot silver is currently up 5.11% at $83.3/oz. (IG)
### Notes on U.S. language habits applied:
1. **Conciseness**: Used "hit" (more dynamic than "reached") and dropped redundant prepositions (e.g., "up 5.11%" instead of "up by 5.11%").
2. **Unit abbreviation**: Shortened "per ounce" to "/oz" (common in financial briefs).
3. **Flow**: Inserted an em dash to highlight the intraday gain (avoids clunky semicolon overuse).
4. **Thousands separator**: Added a comma in "$4,800" (standard U.S. number formatting).
5. **Parallel structure**: Linked gold/silver updates with "while" for smoother contrast (natural in news briefs).
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Galaxy Research Head: Bitcoin Could Further Retreat to Around $70K, Even Test $58K
**Galaxy Research Chief Flags BTC May Extend Weakness to Test 200-Week MA**
On February 3, Galaxy Research Director Alex Thorn tweeted on X that Bitcoin (BTC) could continue weakening in the coming weeks to months, citing on-chain data, technical softness at key price levels, macro uncertainty, and a lack of clear short-term catalysts. He noted BTC may test its 200-week moving average—historically an excellent entry point for long-term investors.
**Recent Price Action & Historical Trends**
From January 28 to 31, BTC posted a 15% cumulative drop, with the downtrend accelerating over the weekend: it fell 10% in a single day on Saturday. Roughly 46% of BTC’s circulating supply is currently in a loss position. Post-January close, BTC recorded four straight monthly candlestick closes in the red—its first such streak since 2018.
Excluding the 2017 exception, BTC has never failed to extend a 40% retracement from its all-time high (ATH) to over 50% within three months. A 50% pullbac
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HYPE surges over 9% in 24 hours, currently trading at $33.28
On February 3, per HTX market data, HYPE has surged over 9% in the past 24 hours and is currently trading at $33.28.
Earlier, Hyperliquid announced its HyperCore will support Outcome Transactions (HIP-4). Outcomes are fully collateralized contracts with settlement prices constrained to a fixed range— a general-purpose primitive suitable for use cases like prediction markets and bounded option-like instruments. The feature is currently in development and only being tested on the testnet at this stage.
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CZ Responds to FUD: Binance Did Not Sell $1 Billion Worth of Bitcoin, SAFU Fund Will Gradually Buy Bitcoin Over the Next 30 Days
On February 3, CZ addressed several "quite imaginative" FUD claims over the past two days, clarifying each one individually:
- Regarding a circulating Polymarket screenshot asking, "Will someone throw something at CZ's face during the 2026 crypto event?" CZ stated the event does not exist on Polymarket or any prediction market, and there is no so-called $7 million trading volume. The screenshot is forged.
- On the claim that "CZ canceled the supercycle," CZ flatly said it was an overinterpretation—he only noted he is "less confident than before."
- Addressing the rumor that "Binance sold $1 billion worth of Bitcoin," CZ clarified it was Binance users who sold, not Binance itself. Changes in Binance wallet balances typically only occur when users withdraw, and many users still keep assets on Binance for wallet purposes after trading.
- Additionally, on the question of the SAFU fund not buying BTC, CZ stated Binance has made it clear the conversion will be completed within 30 da
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SpaceX merges with xAI, reaching a valuation of $1.25 trillion
Feb. 3 — Sources familiar with the matter say Elon Musk plans to merge SpaceX and xAI to combine his growing strategic positions in artificial intelligence (AI) and space exploration. The deal was outlined in a memorandum, with the merged entity valued at an estimated $1.25 trillion: SpaceX at $1 trillion, xAI at $250 billion, and the transaction structured as all-stock.
This move deepens the integration of Musk’s various ventures. Back in late 2022, he acquired social media platform Twitter (later rebranded as X) and merged it with xAI in a $330 billion deal. xAI runs the Grok chatbot; the SpaceX-xAI merger will consolidate funding, talent, and computing resources, potentially helping Musk realize his vision of space-based data centers to power complex AI computations.
Reuters previously reported, citing insiders, that Musk is pushing for the all-stock merger to lay groundwork for a major SpaceX IPO. The deal isn’t finalized yet, but Musk has set up an acquisition entity in Neva
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