Trend Research has once again transferred 20,000 ETH to Binance, with the latest liquidation range being $1509 to $1800.

As of February 6, monitoring data from LookOnChain identifies three key liquidation risk zones on the Ethereum (ETH) chain: - Trend Research holds 356,150 ETH (≈$6.71 billion), with a liquidation price range of $1,562 to $1,698. - Joseph Lubin and two whales collectively hold 293,302 ETH (≈$5.53 billion), with a liquidation price range of $1,329 to $1,368. - The 7 Siblings hold 286,733 ETH (≈$5.41 billion), with a liquidation price range of $1,029 to $1,075. （Note: Corrected the inverted price range for the 7 Siblings to align with logical low-to-high order, a standard for financial data presentation in U.S. markets.）

On February 6th, Bitwise CEO Hunter Horsley told CNBC in an interview: “Bitcoin’s had a double-digit single-day drop, is now in a bear market, and has fallen nearly 30% since the start of the year. As for why? I think the crypto market’s currently caught up in the broader macro environment—investors are dumping all liquid assets right now. Gold’s down, the Nasdaq 100’s falling, and even Amazon’s being sold off. Over the past few months, the crypto space has had some internal issues—like offshore trading platforms hitting operational snags—but right now, crypto assets are trading more in sync with other high-liquidity assets. Long-term holders are feeling uncertain, but new institutional investors see this as a ‘second chance’—prices they thought they’d missed out on forever are back. We’re in a transitional phase right now. At the end of the day, crypto’s still a tiny asset class; most investors haven’t fully allocated to it yet. So the long-term outlook is solid—we’re just

**Binance Alpha to Launch New Airdrop Today at 5:00 PM UTC+8 (Feb 6)** Per an official announcement, Binance Alpha will roll out a new airdrop at 5:00 PM UTC+8 on February 6th. **Eligibility**: Users holding at least 240 Binance Alpha Points. **Key Note**: First come, first served. Claims are open until the airdrop pool is fully distributed or the event concludes.

February 6th — On-chain analyst Yu Jin reports that Trend Research’s prior ETH long position (entered between $1,000 and $2,000, closed at $4,000) netted a $3.15 billion profit. However, the firm’s current long positions have incurred a $7.63 billion loss — wiping out all prior gains and losing an additional $4.48 billion in principal. Over the past 5 days (since the afternoon of Feb 1), Trend Research has: - Stop-loss sold 255,500 ETH at an average price of $2,168 (valued at $5.54 billion) - Withdrawn 483 million USDT from Binance to repay debt and deleverage - Seen its leveraged ETH positions’ liquidation price drop to a range of $1,509–$1,708 (predominantly around $1,560) Current position breakdown: - Still holds 396,000 ETH (valued at $7.54 billion) - Average entry cost: $3,180 - Total loss: $7.63 billion (realized: $2.58 billion; unrealized: $5.05 billion) - Outstanding leverage loan: $526 million

On February 6, on-chain data analyst Murphy tweeted that as of February 5, several key long-term holder (LTH) metrics had neared critical thresholds: Both the 7-day exponential moving averages (EMAs) of the LTH Realized Profit/Loss Ratio (LTH-RPRL) and LTH Spent Output Profit Ratio (LTH-SOPR) had dropped to 1. This signals long-term holders are overall no longer profitable and on the cusp of structural capitulation. Meanwhile, large volumes of long-term, loss-making tokens have flowed onto exchanges—hinting the market may be approaching the "straw that breaks the camel's back" moment. Historically, when LTHs capitulate en masse, it often coincides with the most volatile price swings in each bear market cycle, marking the darkest hour before the dawn.

On Feb. 6, Coinglass data shows total network liquidations over the past 24 hours surged to $2.597 billion. Long position liquidations accounted for $2.129 billion, while short position liquidations hit $467 million. Globally, 577,179 traders were liquidated. The largest single liquidation order was a $12.0209 million BTCUSDT trade on Binance.