💰 Market Overview

· Price Trends: Mainstream cryptocurrencies such as Bitcoin and Ethereum have experienced widespread declines, with Bitcoin briefly dropping below $87,000. Over $120 million in liquidation occurred across the entire network in the past 24 hours.
· Market Analysis: Risk aversion sentiment is strong, with funds flowing from high-risk crypto assets into traditional safe-haven assets like gold.

📜 Regulations and Policies

· US Legislation Progress: President Trump recently reiterated his intention to sign the Cryptocurrency Market Structure Act. Meanwhile, the US Senate Agriculture Committee has released a draft discussion bill related to the legislation.
· Industry Status Enhancement: Cryptocurrency has become one of the core topics at the Davos World Economic Forum, shifting the focus from “legality” to “application methods.”

🔔 Industry News and Events

· Hardware Launch: Solana Labs has launched the second-generation crypto phone Seeker, with over 150,000 units activated.
· Personal Updates: Binance founder Zhao Changpeng (CZ)’s memoir is scheduled for publication by the end of February.
· Traditional Institutions: Crypto custody provider BitGo has gone public on the New York Stock Exchange, with significant stock price fluctuations on the first day.

💰 Market Conditions: Widespread Decline and Capital Flight

The overall performance of the cryptocurrency market today is weak, characterized by the following:

· Mainstream Coins Decline: As of today, Bitcoin is approximately $86,400, down 3.31% in the past 24 hours; Ethereum is around $2,804, with a 24-hour drop of 5.23%. Bitcoin has fallen more than 7% this week.
· High Leverage Causes Massive Liquidations: Sharp price swings have led to heavy losses for high-leverage traders. Nearly 95,000 people worldwide were forcibly liquidated in the past 24 hours, with total liquidation amounting to $122 million.
· Safe-Haven Attributes Tested: Amid increased global uncertainty, funds have not flowed into cryptocurrencies but into traditional safe assets like gold and silver. This indicates that even in risk-averse market conditions, crypto assets are still viewed as high-risk investments.

📜 Regulations and Policies: Frequent US Actions

Regulatory developments are a key factor influencing market sentiment.

· US Legislative Developments Under Scrutiny: President Trump recently stated at the Davos Forum that Congress is advancing the Cryptocurrency Market Structure Act, and he “hopes to sign it soon.” Meanwhile, the US Senate Agriculture Committee has released a draft discussion bill on the “Digital Commodity Intermediary Act,” aiming to clarify the Commodity Futures Trading Commission’s regulatory authority over spot crypto markets.
· Industry Integration into Mainstream Discussions: At the Davos World Economic Forum, cryptocurrencies are no longer fringe topics but central to global financial policy discussions. The focus has shifted from “whether they should exist” to “asset tokenization,” “stablecoins,” and other practical applications. BlackRock CEO Larry Fink even proposed a vision that “everything will be tokenized on a common blockchain.”

🔔 Industry News and Events

In addition to market and policy updates, the following industry events are noteworthy:

· Solana Launches New Crypto Phone: Solana Labs has released the second-generation native crypto phone “Seeker,” along with its associated token SKR. Reports indicate that over 150,000 units have been activated.
· CZ’s Memoir to Be Published: Binance founder Zhao Changpeng revealed on social media that his personal memoir, “Binance Life,” is scheduled for release in late February or early March.
· Traditional Crypto Companies Going Public: Well-known crypto custody service provider BitGo has gone public on the New York Stock Exchange this week, despite significant stock price fluctuations on the first day.