Bitcoin Downtrend Continues, Approaching 2025 Low Again

**February 2nd Economic Calendar: Key Macro Events & Data This Week** This week is light on major macro catalysts, with highlights including the Bank of Japan (BOJ)’s January policy meeting summary and U.S. non-farm payrolls (NFP). Below is the daily breakdown: **Monday** - U.S. January final Markit Manufacturing PMI - U.S. January ISM Manufacturing PMI - BOJ releases summary of January monetary policy meeting deliberations **Tuesday** - U.S. December JOLTs Job Openings - Atlanta Fed President Raphael Bostic (2027 FOMC voter) delivers speech - Fed Governor Michelle Bowman delivers speech **Wednesday** - U.S. API, EIA weekly crude oil inventories (Jan 30 week) - France, Germany, Euro Zone, U.K. January final Services PMIs - Euro Zone January CPI flash estimates (YoY, MoM) - Euro Zone December PPI (MoM) - U.S. January ADP Employment Change - U.S. January final Markit Services PMI - U.S. January ISM Non-Manufacturing PMI **Thursday** - U.S. initi

On February 2nd, GMGN monitoring data reveals the meme coin BULLA on BSC suffered a sudden, steep price plunge from late last night through early this morning, dropping over 90% in 8 hours. Starting at $0.021, its market cap crashed from a peak of nearly $400 million to roughly $22 million as of now, with 24-hour trading volume hitting $109 million. BlockBeats notes that meme coins frequently lack practical use cases and face extreme price volatility—investors are advised to exercise caution.

Feb. 2 – Per ChainNews, Trend Research liquidated 33,589 ETH (≈$79.12 million) in a stop-loss sell-off, then withdrew 77.52 million USDT from Binance to repay debt. This reduced its ETH leverage position’s liquidation price from $1,880 to roughly $1,830 currently.

On-chain data shows Bitmine holds 4.243 million ETH as of Feb. 2, with an average entry cost of $3,849. ETH hit a fresh intraday low of $2,222 this morning, pushing the institution’s Ethereum holdings to a record-high loss of $6.9 billion.

February 2nd — Per Cointelegraph, latest data reveals the U.S. January winter storm hit Bitcoin mining operations harder than initially apparent, with listed miners reporting sharp daily output declines during the event. The storm swept most of the U.S. mainland, forcing miners to scale back operations due to grid strain, snow buildup, icing, and extreme cold — underscoring the close tie between mining activity and energy market conditions. CryptoQuant Research Manager Julio Moreno shared data showing listed miners tracked by the firm averaged 70-90 bitcoins in daily output in the weeks leading up to the storm. At the storm’s peak, that number dropped to roughly 30-40 bitcoins per day.

On February 2nd, per Onchain Lens monitoring, the "7 Siblings" bottom-fishing whale added another 11,333 ETH to its holdings, spending roughly $26.13 million total. Over the past two days, the entity has allocated $57.21 million to acquire 24,139 ETH, averaging out to an entry price of ~$2,370.