February 1

1. Bitcoin Market: Sudden crash in the early morning, washing out the market. Last week, the market's attention was stolen by gold and silver. Bitcoin finally regained some ground last night, plunging 10%, with a low of around 75,600. ETH dropped 12%, bottoming at $2,237, with bears making a killing. This should be a short- to medium-term bottom. I have already bottomed out; everyone can do as they please.

2. Altcoin Market: Bitcoin's sharp decline had little impact on altcoins. "I'm coming" surged 80%, closing at 0.052, driving the Chinese meme coins higher; CYS up 60%, closing at 0.3226; HYPE up 1.66%. From the trend, HYPE shows some correlation with Bitcoin and may become the vanguard of this rebound, worth watching; RIVER down 27%, now at $26; ENSO experienced a significant drop in the morning, currently at $1.25.

3. On-Chain and Institutional Activity: MicroStrategy's BTC unrealized gains are nearly zero; Bitmine's ETH losses hit a new high, with 4.243 million ETH held at an average cost of $3,849, currently with an unrealized loss of about $5.92 billion; Vida, founder of Formula News, publicly bought $2 million worth of ETH early morning. The buy-in of 1,983.57 ETH at $2,281 nearly marks a short-term bottom, now with unrealized gains; multiple large whales' long positions have been liquidated, with losses exceeding hundreds of millions of dollars, which is not uncommon.

4. Solana's Step Finance confirmed a $26 million hack, with 261,854 SOL tokens transferred from the stolen funds wallet. The platform has recently shut down its main platform to focus on media and trading services.

5. Today's Fear and Greed Index dropped to 14, still in extreme fear.

6. The US government has entered partial shutdown.