Bitcoin Dips to New Bear Market Low of $2, Still Holds Above $73K Support

On February 5th, on-chain data analyst Ember reported that a crypto whale address completed full position liquidation 4 hours prior. The address offloaded all holdings over 4 days: 96,585 ETH (valued at ~$2.14 billion) and 334,000 SOL (~$31.51 million), incurring a staggering $141 million total loss. - **ETH breakdown**: Acquired at an average $3,363 in July 2023, sold recently at ~$2,222 → $110 million loss. - **SOL breakdown**: Bought at an average $186 in October 2023, sold at ~$94 in recent days → ~$30.78 million loss. After settling liquidation and repaying debts, the address holds just $58.34 million in USDC.

On February 5, per Onchain Lens data, a crypto whale address with a 25x leveraged ETH short position realized a $17.05 million profit amid market declines, plus an additional $6.83 million from funding rates.

On February 5, IG Group finalized its acquisition of cryptocurrency exchange Independent Reserve, with the transaction approved by Singapore’s Monetary Authority of Singapore (MAS). As previously disclosed, IG Group acquired a majority stake in Independent Reserve for $72 million in September 2023—initially taking a 70% ownership stake and holding an option to purchase the remaining 30% based on future performance. The deal, which was initially subject to regulatory clearance and projected to close in early 2026, has now been completed, with a total valuation of 178 million Australian dollars (equivalent to $117.6 million).

February 5th — On-chain analyst Ai Auntie (@ai_9684xtpa) reports that the "ETH Whales Profit $99.22M Smart Money Address" has accumulated an additional 2,500 cbBTC over the past 8 hours, valued at $182 million. Since February 2nd, the address has withdrawn a total of 4,000 cbBTC from Coinbase, with an average withdrawal price of $74,003.9. It currently holds an unrealized loss of $2.995 million, and has not increased its ETH holdings in the past two days.

On February 5, U.S. President Donald Trump said he would not have tapped Kevin Warsh as Federal Reserve Chair had Warsh indicated a willingness to raise interest rates. “If he’d come in and said, ‘I want to raise rates,’ he wouldn’t have this job—absolutely not,” Trump told NBC News in an interview Wednesday. He added there’s “no question” the Federal Reserve will cut rates because “our rates are too high,” though “we’re a rich country again.” When asked if Warsh understood Trump wanted him to lower the benchmark interest rate, the president replied: “I think he gets it, but I think he wanted to do his own thing anyway.” Additionally, Trump is seeking to legally remove Fed Governor Lael Brainard over alleged mortgage fraud involvement—a case currently under Supreme Court review. Treasury Secretary Steven Mnuchin told a House Financial Services Committee hearing he believes the Fed is an independent institution, but the president has the right to weigh in on Fed decisions.

Feb 5 — Per on-chain data from analyst Yujin Monitoring, Trend Research has liquidated a cumulative 188,500 ETH since the afternoon of Feb 1 (over nearly four days), with an average stop-loss price of $2,263. The firm repaid $385 million in USDT to reduce leverage. Currently, the liquidation prices for Trend Research’s multiple ETH leveraged positions have fallen to the $1,576–$1,682 range, primarily concentrated around $1,640. Current holdings: 463,000 ETH (≈$998 million), with an average cost price of $3,180. Losses: $647 million total (realized loss: $173 million; unrealized loss: $474 million). Leveraged borrowing: $625 million.