February 6, 2026 Crypto News Highlights The crypto market experienced an epic "crash" today, with Bitcoin plunging over 12% in a single day, breaking through the $63,000 mark. This not only wiped out all gains since Trump's election victory but also triggered a chain reaction of liquidations exceeding $2.1 billion across the entire network. Market sentiment has instantly shifted from "greed" to "extreme fear," and Wall Street is facing its most severe confidence crisis since the beginning of 2026. 🏛️ Key News: Collapse of Institutional Dividends and Political and Economic Turmoil * Crypto Market "Confidence Crisis" Erupts: The $70,000 "psychological barrier" promised by the current administration was forcefully breached, directly triggering an avalanche of selling from algorithmic trading and leveraged positions. Analysts point out that Bitcoin's previous "safe-haven asset" label has almost completely collapsed in this round of macroeconomic shocks. * Trump Publicly Pressures Rate Cuts: Trump publicly declared today that the Federal Reserve's rate cut is "unquestionable." He firmly believes his nominee, Kevin Warsh, will understand his strong stance on interest rate cuts, a statement that exacerbates market concerns about the independence of monetary policy. * US Legislative Process: Senate Accelerates Clarity Act: Despite the market crash, the Senate plans to reserve time for a full session on the crypto market structure bill in the spring. Treasury Secretary Bessant today criticized "crypto nihilists" who resist regulation and called for the bill to be passed quickly to stabilize market order. * Major Exchange Exodus: Gemini officially announced its withdrawal from the UK, Europe, and Australia markets, and will lay off 25% of its staff (approximately 200 people), shifting its business focus entirely to the US. This move is seen as a sign of the crypto industry's shift from global expansion to regional defense. 📊 Market Analysis: Leveraged Massacre and Institutional Exit * BTC Plunge, 430,000 Liquidated: Total liquidations across the network reached $2.114 billion in 24 hours (long positions accounted for over 87%). BTC hit a low of $62,345; ETH fell below $2,000, dipping to $1,824, and SOL fell below $80. * Institutional demand reverses, ETFs see massive turnover: BlackRock's IBIT saw a record $10 billion in trading volume today. However, after recording a $560 million inflow on Monday, over $800 million has flowed out in the past two days, indicating that institutions are shifting from directional betting to risk aversion. * Strategy (MSTR) faces a life-or-death test: Saylor's subsidiary released its Q4 earnings report, revealing a massive loss of $12.4 billion. Currently, its 713,502 BTC holdings have an average price of approximately $76,052, meaning all of MSTR's holdings are at a loss, triggering extreme panic in the market regarding its financial health. * Diverging safe-haven demand: Gold and silver plunge simultaneously: The collapse in the crypto market has spread to precious metals. Silver plunged over 20% at one point today, while gold fell over 4%. Funds are fleeing all risk assets at an unprecedented rate, flowing into cash and physical gold. 🚀 Project Updates and Capital Flows * Tether's Aggressive Purchase of Physical Gold: Amid the cryptocurrency crash, Tether announced a $150 million investment and plans to convert 10%-15% of its reserves into physical gold (stored in a Swiss nuclear bunker), with weekly purchases reaching 1-2 tons. * Coinbase's New Listing Roadmap: Announced the launch of HYPE and RNBW spot trading today and released a list of coins under watch, including Aztec (AZTEC). * Mining Enters its "Darkest Hour": Bitcoin Hash Price fell to a record low of $0.03/TH. Miners are being forced to shut down or sell BTC on a massive scale, with the next difficulty adjustment expected to drop significantly by 13%. * Trump family project sell-off: On-chain monitoring shows that World Liberty Financial (WLFI) has sold another 173 WBTC. Despite the investigation, its selling activity has not stopped.