#ETH Spot ETF to Be Approved. Is the "ETF Summer" Coming?#
On May 21, sources said that the US SEC informed the exchange that it was inclined to approve the Ethereum spot ETF. On May 23, the SEC will formally decide on VanEck's Ethereum spot ETF application. Is the long-awaited Ethereum spot ETF coming?
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Encrypted Breakfast | February 7th 1. Bitcoin plummeted 15.48%, hitting a low of $60,000, marking its largest single-day drop since the FTX crash. This was due to a combination of institutional selling pressure and macroeconomic risk aversion, with the root cause being institutional deleveraging, which led to the continued decline in Bitcoin prices. PS: Speculation that “the collapse of the IBIT hedge fund triggered a sharp drop in Bitcoin” continues to ferment, and partners of Dragonfly believe that the speculation is quite reasonable. 2. Over $2.5 billion in margin calls occurred across the internet, affecting 570,000 people, with long positions being the primary target. A market rally could only proceed after leverage was cleared out at 3:12 PM. 3. MicroStrategy reported a net loss of $12.4 billion in Q4 2025. The CEO stated that even if Bitcoin falls to $8,000, MicroStrategy will not collapse and will only buy more. 4. Vitalik sold 2,779 ETH (worth $6.22 million) in the past 3 days. 5. Bithumb mistakenly airdropped a large amount of Bitcoin to users, causing a short-term price drop on the platform. The world is a mess. 6. Tether makes a strategic investment of $150 million and integrates XAUT to explore the purchase of physical gold with stablecoins. 7. Pump.fun Acquired the cross-chain transaction terminal Vyper, and will gradually cease service starting February 10. 8. Binance SAFU Fund address has once again increased its holdings/transferred in 3,600 BTC (approximately US$233 million). 9. Hyperliquid ecosystem Perp DEX Trade.xyz: 24-hour trading volume reached a record high of $5.45 billion. 10. Glassnode: Bitcoin valuation has reached an all-time low, indicating that downside potential has been exhausted. [Bitcoin Market Analysis] The Bitcoin Fear Index has fallen to 6, and the current "extreme fear" sentiment is unprecedented. This round of decline was caused by institutional investors, so the abnormal decline has brought great panic to everyone. However, this panic also means that the market is close to the bottom. Bitcoin is currently finding support around $60,000 on the 4-hour chart, and has rebounded by about 20% in the past 24 hours. There are no ETF markets over the weekend, so the rebound is expected to continue. We'll know next week whether institutions have finished selling. If selling pressure decreases, market confidence will continue to recover. Bitcoin's revolution in the financial market will not end, and the trend is irreversible. The short-term decline is simply due to increased leverage. Originally, there were no great expectations for this year, but this rare drop has actually increased my confidence in this year's market. The market is not without bear markets, but this bear market has accelerated. [Risk Warning] Digital assets are highly volatile and carry extremely high risks. Please participate with caution, never go all in, and never use leveraged loans.
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Trade Coin Chiến Lược
Crypto 401(k) under threat after market crash of $2 trillion. Following a sharp decline that wiped out over $2 trillion in market Capital across the entire crypto market, the US program allowing crypto investments in 401(k) retirement plans is facing significant pressure from regulators and lawmakers, due to concerns about risks for individual investors. New regulations and the market crash. The Trump administration expanded regulations from mid-2025, allowing 401(k) schemes to include crypto via ETFs or managed funds (not self-custody), aiming to democratize access to alternative assets like BTC/ ETH alongside private equity and real estate. However, the latest bear market (BTC plummeting from its peak) has led regulators like the DOL and SEC to question the suitability of crypto in retirement plans, which are designed to protect workers' long-term savings. Pressure from regulatory and legislative bodies. The Department of Labor (DOL) is XEM the guidance and related elements, raising the possibility of tightening or completely banning crypto in 401(k) schemes due to its high volatility, lack of transparency, and significant risk of loss for non-professional investors. Republican and Democratic lawmakers have both voiced criticism, arguing that including high-risk assets in retirement funds goes against the principle of protecting workers, especially since many 401(k) plans have seen their portfolios depreciate significantly. Consequences for investors and the industry If restricted, individual investors would only have access to crypto through self-managed IRAs (Individual Retirement Accounts) instead of employer-sponsored 401(k) plans, reducing its appeal in terms of taxes and double contributions. The crypto industry is concerned that this move could slow the adoption and accessibility of cryptocurrencies for institutions and retail investors, returning to a period of regulatory oversight similar to that before 2025, even though some BTC ETFs will still hold a significant position in the portfolio.
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ML Tech
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📊 This Week in Crypto Crypto markets saw a sharp selloff before stabilizing, with BTC rebounding to $70.6K after briefly dipping near $60K, and ETH recovering to $2,050 after trading below $1,800. U.S. data was mixed, weak private jobs contrasting with stronger consumer sentiment, while the Fed is still expected to hold rates steady at its March meeting. Risk-off conditions showed up in derivatives as funding turned negative and volatility spiked, while ETF flows remained under pressure with notable BTC and ETH outflows. Despite the turbulence, institutional activity continued, with new ETFs launching, infrastructure expanding, and treasury accumulation adding both BTC and ETH. 🔗 See how quant strategies navigated the volatility this week at http:/mltech.ai
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Crypto Market Aggregator|币圈新闻汇总
[2/3] (Reuters | PANews) Market Analysis 1. BTC and ETH rebounded from the sharp drop: BTC returned to the $67,000-$69,000 range, and ETH returned to around $2,000. Multiple platform quotes show that BTC rebounded and once stood above/broke through $69,000, while ETH returned to about $1,999-$2,002. The previous intraday low and the rebound range were inconsistent, indicating that volatility is still high. (CoinDesk | TechFlow | Odaily) 2. Deleveraging continues: The scale of margin calls across the network varies, but all are at historically high levels. CoinGlass statistics show that approximately $2.242 billion in liquidations occurred in the past 24 hours; CoinAnk statistics show approximately $1.662 billion. The difference stems from the exchange sample and statistical methods used. (TechFlow | PANews) 3. Trend Research is massively selling/transferring ETH to reduce leverage and repay debts. On-chain monitoring points to continuous selling pressure. Multiple monitoring sources indicate that it is related to leveraged positions on Aave. In the past few hours/15 hours, there have been multiple concentrated transfers to Binance (such as 20,000 ETH, 30,000 ETH, etc.), and there are different estimates that "more than 410,000 ETH have been sold since February 1, with a total loss of about $700 million". Overall, it points to the fact that institutional deleveraging is still underway. (TechFlow | BlockBeats | PANews) 4. On-chain Fund Flows: BlackRock and Grayscale-related addresses transferred BTC/ETH to Coinbase Prime, sparking discussions about "redemption/rebalancing or potential selling pressure." Monitoring shows that BlackRock-related addresses deposited approximately 3,948 BTC and 5,734 ETH into Coinbase; Grayscale also saw approximately 1,364 BTC transferred into Coinbase Prime. These transfers need to be assessed in conjunction with ETF redemption and market-making processes. (TechFlow | Odaily) 5. Indicators and Institutional Views: Glassnode and CryptoQuant have indicated that the market is currently in a "period of extreme/near the end of a bear market," but a rebound still needs time to be confirmed. Glassnode stated that BTC's "Yardstick" has hit an all-time low, which historically often corresponds to a narrowing of downside potential. CryptoQuant mentioned that the loss-making BTC supply is close to the level at the end of the last bear market, and some opinions suggest that the lack of a substantial rebound could trigger a chain reaction of forced selling. (BlockBeats | BlockBeats | PANews) 6. Macroeconomic and Risk Appetite: Michigan consumer confidence rebounded and inflation expectations declined; volatility in safe-haven assets (gold/silver) intensified. The University of Michigan's preliminary February consumer confidence reading was 57.3, higher than expected; the preliminary 1-year inflation expectation reading was 3.5%, lower than expected; during the same period, gold rose to nearly $4,960/ounce, and silver also experienced significant fluctuations, indicating cross-asset deleveraging and linkage risks. (TechFlow | Odaily | PANews) ━━ Project Updates ━━ 1. ENS halts proprietary L2 “Namechain” development: ENSv2 will be directly deployed on the Ethereum mainnet. ENS stated that the Fusaka upgrade is expected to significantly reduce registration costs after increasing the gas limit, and has opened a public alpha test for the new version of the ENS App/Explorer. (Foresight News) 2. Ronin: Saigon testnet has completed its migration to Ethereum, and the mainnet is planned to be upgraded to Ethereum L2 in the first half of 2026. The upgrade window points to Q1–Q2 of 2026, reflecting the convergence of the game chain towards the Ethereum Rollup route. (BlockBeats | Foresight News) 3. Polymarket's parent company has applied for the "POLY/$POLY" trademark. Executives have confirmed plans to issue native tokens and airdrop the trademarks to cover financial and crypto market software, tokens, and platform services. The timeline for the tokens has not yet been disclosed. (The Block | Odaily) 4. Relay Protocol completes $17 million Series B funding round: plans to launch "instant cross-chain settlement" Relay Chain. Archetype and USV led the investment, focusing on cross-chain settlement infrastructure. (PANews) 5. Strategy discloses it will launch a "Bitcoin security plan" to address quantum uncertainty. Saylor stated that it will collaborate with the cybersecurity/cryptography/Bitcoin security community to advance the project, viewing it as a long-term engineering challenge rather than an immediate threat. (CoinDesk | TechFlow) 6. Ripple releases XRPL institutional-grade DeFi blueprint: positioned as "regulated real-world finance" It emphasizes recent upgrades and upcoming features to promote the adaptation of XRPL in institutional scenarios and compliant financial infrastructure.
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52Hz Database
The hidden wallet address associated with Cumberland operates on Hyperliquid. As one of the rare wallet addresses that has made a profit from PNL from December to the present, with a total profit of $16,707,625. This wallet address received $25,000,000 USDC today. All of this stablecoin has been transferred into Hyperliquid to strengthen their position. They currently have 43 open positions and a profit of $2,904,833. In these 43 positions, they are still holding Short in BTC, $ETH, HYPE, and recently reversed to Longing positions 7 hours ago. The remaining positions are active as Market Maker (xyz,km,fix) on Hyperliquid. For those who previously held profitable Short positions, they are also taking partial profits on the stablecoins in their wallets, which have reached $99.52M. This means they are waiting for the next phase. Note: Cumberland is a multi-faceted VC firm operating in areas such as: Capital, Market Maker, OTC, and ETF acquisition for funds.
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