Analyst: Leverage Liquidation Driven This Round of Decline, $60,000 Key Support Area for Bitcoin
On February 24, Presto Research Deputy Researcher Min Jung noted that Bitcoin’s dip below $63,000 appears to reflect broad-based weakening in crypto market sentiment—not a single fundamental catalyst. In the near term, macro headwinds (notably tariff tensions and renewed geopolitical uncertainties) are amplifying digital assets’ risk-off tone.
Jung added: “Notably, while traditional risk assets have held up relatively well, cryptocurrencies have recently underperformed. This divergence suggests the sell-off isn’t purely macro-driven—it also reflects weak marginal demand, thinning liquidity, and ongoing deleveraging in crypto-native markets.”
Bitrue Research Director Andri Fauzan Adziima said: “We’ve seen massive long liquidations—hundreds of millions of dollars wiped out—along with negative funding rates, a sharp drop in open interest, and a heavily bearish skew in the futures market. Short-term holders have taken heavy losses, but long-term holders haven’t started mass selling y
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OKX will list HOOD, TSLA, and MSTR futures trading, supporting up to 5x leverage
February 24 — According to official sources, OKX will officially launch Stock Perpetual Swaps on February 25, 2026, at 3:00 PM Beijing Time across its web, app, and API platforms for users in select countries and regions. Underlying assets include Robinhood (HOOD), Tesla (TSLA), and MicroStrategy (MSTR), with up to 5x maximum leverage.
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"AI Doomsday Report" Author Speaks Out: Market Panic Beyond Expectations, Calls for Imposition of "AI Tax" to Address Unemployment
On Tuesday, February 24, Alap Shah—co-author of the *2028 Global Intelligence Crisis* report—publicly addressed the public, acknowledging the market’s reaction far exceeded expectations and urging the government to tax AI to mitigate the potential looming large-scale unemployment crisis.
Lotus Technology Management’s Chief Investment Officer (CIO), in an interview with Bloomberg TV, warned AI advancements could cut white-collar jobs by 5% in the next 18 months, with the U.S. facing the most severe impact without policy intervention. Service-heavy industries like insurance and banking are at greater risk, he noted.
Shah proposed the government consider taxing incremental or windfall gains from AI to offset labor substitution effects and protect consumer demand. He argued white-collar labor replacement would create a negative feedback loop: companies lay off workers to boost margins, reinvest savings in AI, and drive further layoffs.
The *2028 Global Intelligence Crisis* is a pr
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Top 100 Long Positions on Chain Mistake: Long Nasdaq and BTC While Shorting Silver, Nearly $10 Million in Unrealized Losses
February 24th — According to Coinbob Popular Address Monitor (https://t.me/Coinbob_track_CN), on-chain data shows the top 100 long-focused whale address (0x8af) tied to the Nasdaq 100 holds positions across on-chain U.S. equities, crypto markets, and precious metals.
As of now, the address holds over $20 million in long positions on XYZ100 (a Nasdaq 100 Index tracking contract), an equivalent long position in BTC, and a $12 million short position in silver. Following today’s pullback in U.S. stocks and crypto markets — while silver has held near highs with a slight gain — the address has incurred losses on both its long and short positions, with floating losses across all three positions continuing to widen.
Currently, the address’s biggest losses stem from its 40x leveraged long BTC position: the position size is ~$23.2 million, with an average entry price of $100,800 and a floating loss of $13.8 million — a staggering loss percentage of 2376%. Additionally, the address has $14.
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BlockBeats now has officially and fully integrated Polymarket prediction market data, allowing users to view market consensus without switching platforms.
On February 24, Rhythm BlockBeats officially integrated Polymarket prediction market data into its PC website and mobile app. As the world’s first media platform to embed prediction market depth into news feeds, users can directly view key metrics—including current event probability, trading volume, liquidity depth, and price trends—within real-time news, event reports, and special briefings. No platform switching is needed to get a full picture of market consensus.
Additionally, the “View Latest Data” feature lets users compare data from the event’s timing to current real-time figures. This helps them clearly track the evolution of market forecasts, retrospective accuracy, and how information gradually shifts from a “market signal” to “public fact” via data changes.
This update aims to boost the professionalism and forward-looking value of BlockBeats’ news content. Prediction markets, as efficient information aggregation and price discovery mechanisms, have delivered sharp insights
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The current mainstream CEX, DEX funding rate display shows a continued bearish market sentiment, with the Bitcoin rate close to neutral.
February 24 — Bitcoin slipped below $63,000 again this morning, according to data from Coinglass.
Current funding rates on major centralized (CEX) and decentralized (DEX) exchanges point to a still largely bearish market, though most platforms have seen Bitcoin’s funding rate return to positive territory. Specific rates are detailed in the attached image.
**BlockBeats Note**: Funding rates are set by crypto exchanges to align perpetual contract prices with underlying asset values. They enable a funding exchange between long and short traders—exchanges do not charge this fee. The mechanism adjusts the cost or profit of traders holding contracts to keep contract prices close to spot prices.
A 0.01% funding rate is the baseline. Rates above 0.01% signal a broadly bullish market, while rates below 0.005% indicate a generally bearish trend.
4 minutes ago
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