「Abraxas Capital」 Takes Profit on HYPE Short, Position Size Reduced to $6.79 Million

On February 3, ARK Invest CEO Cathie Wood told the podcast *The Rundown* that gold’s current price relative to the M2 money supply has hit an all-time high—surpassing levels seen during the 1970s high-inflation era or the 1930s Great Depression (periods marked by extreme currency collapse or hyperinflation). But the current macro environment tells a different story: expanding money supply, no economic collapse, and ample liquidity. This means gold has “priced in the worst-case scenario/fear” and is in a phase of “irrational exuberance,” likely to see a pullback. Bitcoin, however, is still in its early stages. “If I were a bold investor, I’d switch from gold to Bitcoin right now,” she noted. Wood also reaffirmed her bullish price target for Bitcoin: $1.5 million by 2030.

Feb. 3 — Per on-chain analyst Ai Auntie (@ai_9684xtpa), a whale address (0x282...515A) has deposited 18,100.2 ETH to OKX over the past 15 hours. The holding is valued at $41.992 million, with a potential $14.48 million loss if sold. Since Jan. 20, the address has sold 51,780 ETH total (worth $133 million) at an average deposit price of $2,577, resulting in an expected cumulative loss of $28.11 million. Currently, the address’s on-chain balance is just 1,128 ETH.

February 3rd – Binance has identified technical issues with its withdrawal function, per official sources. The team is addressing the problem urgently, and affected services will be restored as quickly as possible. Real-time updates on the latest progress will be shared promptly.

On February 3rd, Chaitanya Jain—Bitcoin Strategy Manager at Strategy—posted on social media, stating: “We’re not traders. We don’t speculate, nor do we try to time the market. No technical analysis, no drawing lines on charts. Bitcoin will keep rising. There’s only one strategy in the world: Buy and HODL.”

On February 3, Step Finance released a statement addressing a hacker attack: Approximately $40 million in assets were stolen from its treasury following a breach of a company executive’s device. Upon discovering the security vulnerability, Step Finance immediately launched an investigation with cybersecurity researchers and relevant authorities, notified law enforcement, and temporarily paused some operations. The announcement noted the project has so far recovered around $3.7 million in Remora-related assets and roughly $1 million in other positions. As the largest liquidity provider (LP) for Remora Markets, related LP activities will resume once the system is confirmed fully secure. Step Finance emphasized Remora Markets is unrelated to the incident, and all rTokens remain 1:1 backed by custodied collateral. Pending the investigation’s completion, the project advises users to temporarily refrain from using the STEP token. The team stated it will take measures based on a p

February 3rd — On-chain analyst Wu Jinyu reports a whale/institution active in ETH scalping (with $98.95 million in prior profits) has ramped up holdings: it added 23,000 ETH in the past 15 hours, and has accumulated $262 million worth of cbBTC and ETH purchases over 3 days. **Recent buy breakdown:** - 83,392 ETH ($204 million) at an average price of $2,450 - 750 cbBTC ($57.78 million) at an average price of $77,040 **Current position & unrealized performance:** - Total holdings: 173,000 ETH ($406 million) + 750 cbBTC ($57.78 million) - Unrealized loss: $55.11 million - Average costs: ETH $2,667; cbBTC $77,040