🇰🇷 CoinEasy | Daily Crypto Brief Feb 6, Friday, 2026 (KST) Today's Key Line The plunge is ultimately a test of leverage, premium, and liquidity. Mining stocks and the BTC treasury model are being shaken, while ETFs are increasingly becoming the market's primary trading platform. What Matters Today 1) IREN and CleanSpark continue to sell off after earnings misses • Mining stocks are sensitive to price and margin pressure 2) Strategy: Q4 loss of $12.6B… BTC decline hits 'accumulation premium' • Falling below average purchase price (~$76K), entering valuation loss zone 3) Bitwise files Uniswap ETF S-1 • Attempts to expand alt ETFs (excluding initial staking) 4) BlackRock IBIT records $10B in daily trading volume (accompanied by sharp decline) • Liquidity concentrated in ETFs during volatility What to Watch • ETF trading volume: Is it a one-time panic or structural liquidity? • Will there be further pressure on the strategy premium (mNAV)? • Mining stocks: Will cost/efficiency improvements come before a rebound? 😀CoinEasy's one-line assessment Right now, "liquidity (ETF) and premium (treasury/mining)" must stabilize before price to resume the trend.