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Analysis: Bitcoin has not yet entered the final panic stage; it is currently only the "beginning of the test."

2 hours ago

On February 28, CryptoQuant analyst @AxelAdlerJr commented immediately following Bitcoin’s latest drop. He noted Bitcoin’s unrealized loss percentage has topped 39%, with a large share of buyers currently in unrealized loss positions. The market is now in a phase of downward pressure but hasn’t reached full capitulation yet—there’s still room for maneuver before a full collapse. Historical data shows this metric hit over 40% near the 2018 and 2022 bear market bottoms. The current level signals weak hands are gradually being liquidated, potentially approaching the cycle low.
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U.S. Senior Official: No U.S. Personnel Casualties Reported Yet

February 28 — Per an AXIOS reporter, a senior U.S. official stated no U.S. personnel have been injured as of now.

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The targets of the Israeli airstrikes include Iran's Supreme Leader and President.

On February 28 — Two Israeli sources with knowledge of the operation said Saturday morning’s Israeli strike on Iran targeted senior Iranian officials, including Supreme Leader Ayatollah Ali Khamenei, Armed Forces Chief of Staff Sayyid Abdul-Rahim Mousavi and President Mahmoud Pezeshkian. Additional targets, per the Israeli sources, included Ali Shamkhani, secretary of Iran’s newly established Defense Commission, and Ali Larijani, secretary of Iran’s National Security Council. It remains unconfirmed whether any senior Iranian officials were wounded in the strike.

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US Military Official Oversees Iran Operation at Mar-a-Lago

On February 28, a source stated that U.S. Secretary of Defense Lloyd Austin and Joint Chiefs of Staff Chairman Gen. Mark Milley were overseeing an operation targeting Iran at Mar-a-Lago in Florida.

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View: Cryptocurrency Unluckily Emerges as the Top Choice for Weekend Risk-Off Hedging

On February 28th, DeFiance Capital founder Arthur said: “Unfortunately, crypto has become the go-to short hedge for risk-off weekends.”

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On-chain BTC and ETH maximum long positions together are currently facing a total loss of over $13 million, with no deleveraging yet.

**February 28 –** Per monitoring from crypto analytics firm HyperInsight (Telegram: https://t.me/HyperInsight), two of the largest long-whale positions in BTC and ETH have seen unrealized losses swell amid ongoing market downturns. Combined losses for the pair exceed $13 million. As of press time, neither position has been closed or reduced. Key position details: - **pension-usdt.eth**: 3x leveraged BTC long | Size: $63M | Avg. entry: $66,800 | Unrealized loss: $3.17M (15%) - **ETH Whale**: 15x leveraged ETH long | Size: $129M | Avg. entry: $1,991 | Unrealized loss: ~$9.6M (-110%)

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Iran's Supreme National Security Council: Has Responded to US Military Action

February 28 — Iranian media reported on February 28 that Iran’s Supreme National Security Council (SNSC) has released Announcement No. 1, stating that Iran’s armed forces have strongly responded to military actions by the U.S. and Israel. (Xinhua)

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