BTC (Bitcoin) down 1.56% in the past 24 hours, currently at $77,381.33

Gate News Bot Message, February 02, according to CoinMarketCap data, at press time, BTC (Bitcoin) is trading at $77,381.33, down 1.56% in the past 24 hours, with a high of $90,439.29 and a low of $75,698.90. The 24-hour trading volume reached $53.456 billion. The current market capitalization is approximately $1.55 trillion.

Bitcoin is an innovative payment network and a new form of currency. It operates using peer-to-peer technology without the need for central authorities or banks; transaction management and Bitcoin issuance are handled collectively by the network. Bitcoin is open-source, with its design publicly available. No one owns or controls Bitcoin, and everyone can participate. Through many unique attributes, Bitcoin enables exciting applications that previous payment systems could not achieve, including fast peer-to-peer transactions, global payments, and low processing fees.

Important Recent Bitcoin News:

1️⃣ US Dollar Trends and Macro Environment Limit Bitcoin Performance Despite the US dollar index falling 10% over the past year, Bitcoin has instead declined 13%, significantly underperforming historical norms. The interest rate differential has actually favored the dollar since the beginning of the year, weakening Bitcoin’s appeal as a hedge against dollar depreciation. Market expectations lack macroeconomic durability for the current dollar decline, leading Bitcoin to still be viewed as a liquidity-sensitive risk asset rather than a reliable store of value. In contrast, gold rose 4.37% during the same period, with its market cap increase approaching Bitcoin’s total market cap, creating a clear shift in attention away from Bitcoin.

2️⃣ High Leverage Positions in Derivatives Market Trigger Chain Liquidations Over the past 24 hours, total liquidations across the network remained high at $234 million to $346 million, with a significant proportion of Bitcoin long positions liquidated. Market liquidity structure indicates that if Bitcoin falls below $84,193, the liquidation of long positions on major centralized exchanges could reach $829 million; breaking $92,363 could trigger $1.587 billion in short position liquidations. The concentrated liquidation distribution causes noticeable price suppression within certain ranges. Large open interest in options further exacerbates structural pressure around $90,000, making derivatives risk a key factor influencing short-term price movements.

3️⃣ Spot Market Demand Rebounds and ETF Capital Flows Diverge Yesterday, Bitcoin spot ETF saw a net outflow of $19.645 million, with BlackRock’s IBIT leading with a net outflow of $14.179 million, while Fidelity’s FBTC experienced a net inflow of $19.451 million. The ETF holdings decreased by 8.4%, and total funds under management fell from approximately $72.6 billion to $66.5 billion, indicating waning investor confidence. However, initial signs of improvement appeared in offshore spot markets, showing growing buy-side interest. This divergence reflects institutional investors adjusting their positions around the key level of $88,000.

4️⃣ Breakthroughs in Bitcoin Ecosystem Financial Applications Signal Long-term Value Events such as the launch of Citrea’s mainnet, the release of GOAT Network BitVM2 Testnet V3, and Mezo community airdrops mark accelerated development of Bitcoin’s native financial infrastructure. These applications leverage innovations like ZK-rollup and BitVM2 mechanisms to introduce lending, stablecoins, and other financial services without compromising Bitcoin’s security, expanding its economic utility. Deepening institutional support (involving Peter Thiel, Galaxy, etc.) and the first phase of Mezo’s airdrop covering 11,845 addresses reflect traditional capital’s recognition of Bitcoin ecosystem evolution, laying a foundation for medium- and long-term demand.

5️⃣ Institutional Holdings and Miner Transition Drive Industry Structure Optimization Corporate Bitcoin holdings have reached 1.1 million BTC, Swiss bank Sygnum has raised over 750 BTC for market-neutral funds, and Tesla maintains a holding of 11,509 BTC, indicating stable institutional allocations. Large power contracts signed by Iren with Microsoft and Cipher Mining with Amazon reflect miner industry upgrades aligned with Meta and Microsoft’s increased AI spending. Russia plans to introduce a crypto regulatory framework by July 2027 allowing retail investors to hold Bitcoin, indicating policy-level recognition. These structural changes support long-term optimization of Bitcoin’s supply-demand dynamics.

This message is not investment advice; please be aware of market volatility risks.