1. Market Observation

Keywords: Plummet, ETH, BTC

According to the Fear and Greed Index data, after the price plummet, Bitcoin's trading sentiment has fallen into the fear zone, which may indicate a buying signal. Despite recent volatility causing each coin to fluctuate by $10,000 within 24 hours, Bitcoin has returned to the $100,000 mark. Other cryptocurrencies like Ethereum and Solana have had mixed performances, with Ethereum struggling in the turbulent market.

Reports indicate that US authorities have ignored Senator Cynthia Lummis's request for an explanation regarding the deadline for the Bitcoin seized from Silk Road, raising concerns among cryptocurrency advocates. In price prediction news, Bitcoin sharply dropped from $91,252 to $101,549 within hours, with buyers actively defending this level. Meanwhile, Utah may become the first US state to establish a Bitcoin reserve.

Bitcoin derivatives data suggests that despite investor concerns, this currency has bottomed out and has the potential to rebound above $100,000. Ethereum's price has dropped 10% over the past week, and the DeFi project World Liberty Financial, associated with Trump, currently holds 70,000 ETH worth $224 million, facing a loss of about $36.7 million. Amid these developments, the Bitcoin market remains volatile, and investors' outlook on this cryptocurrency remains mixed.

2. Key Data (as of February 5, 09:49 HKT)

• S&P 500: 6,037.88 points (YTD +2.66%)

• Nasdaq: 19,654.02 points (YTD +1.78%)

• 10-Year US Treasury Yield: 4.521% (YTD -5.50 basis points)

• US Dollar Index: 107.93 (YTD -0.51%)

• Bitcoin: $98,147 (YTD +5.07%), daily spot trading volume of $70.48 billion

• Ethereum: $2,738.07 (YTD -18.14%), daily spot trading volume of $52.21 billion

3. ETF Flows (February 4 EST)

• Bitcoin ETF: +$91.78 million

• Ethereum ETF: +$83.54 million

4. Important Dates (HKT)

ISM Services PMI (February 5, 11:00 PM)

• Actual: To be announced / Previous: 54.1 / Expected: 54.3

Non-Farm Payrolls (February 7, 9:30 PM)

• Actual: To be announced / Previous: 256,000 / Expected: 170,000

Unemployment Rate (February 7, 9:30 PM)

• Actual: To be announced / Previous: 4.1% / Expected: 4.1%

5. Hot News

New York Times: US SEC Reduces Its Enforcement Efforts in the Cryptocurrency Sector

US Legislators Form House and Senate Task Force to Draft Cryptocurrency and Stablecoin Legislation

US SEC Cryptocurrency Task Force Signals Major Regulatory Shift Aimed at Allowing Projects to Legally Issue Tokens

US CFTC Acting Chair: CFTC No Longer Enforcing Regulatory Oversight

Crypto Tsar David Sacks: Evaluating Strategic Bitcoin Reserves is a Top Priority for the Government's Internal Task Force

Ohio Senator Proposes Bill to Establish Bitcoin Reserves and Accept It as a Payment Method

US Tariff Commission: Imposing Tariffs on Certain Imported Goods Originating from the US

NYSE Submits 19b-4 Filing for Grayscale LTC ETF to US SEC

Berachain Plans to Announce Token Economics Tomorrow, Launch Mainnet on February 6, and Conduct Token TGE Simultaneously

US Public Company Semler Scientific Invests $88.5 Million to Acquire 871 BTC

Jupiter to Launch JUP Buyback Mechanism This Week

Sun Yuchen: Li Lin Concealed Due Diligence Materials When Selling Huobi, Internal Shortfall of $30 Million

XRP Ledger Spontaneously Recovers About an Hour After Block Production Interruption, No Reported Asset or Transaction Loss

Supported by OSL - Hong Kong's largest over-the-counter trading platform, continuously providing regulated digital asset services to the market since 2018.

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