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According to Jinshi reports, the Federal Reserve meeting minutes show that an increasing number of decision-makers believe there is "sufficient" reason to adopt a "two-way" statement regarding future interest rate decisions.

On-chain analyst Murphy stated that the average cost of all loss-making Bitcoin chips has currently fallen below $100,000, now at only $93,600. This means that under the current chip structure, BTC will reach the market average breakeven point when it rises back to $93,000. During the two rapid declines at the end of last year and the beginning of this year, a large number of high-position trapped chips chose to cut losses and exit, lowering the average cost of overall floating loss chips.It is also observed that the average cost of loss-making chips has a deviation coefficient of 1.4 compared to the current 30-day average price of BTC, while in the past three bear market bottoms, the deviation coefficient has exceeded 2 at least. When the average deviation coefficient is greater than or equal to 2, it indicates that the market has entered an absolute bottom range, at which point the price of BTC is less than 50% of the average cost of loss-making chips. To meet this condition, the lowest point of BTC in this round would need to drop to $46,800, but historical patterns may not always hold true. This bear market may be less painful than any previous bear market. According to PolyBeats monitoring, in the market related to whether Bitcoin will reach $60,000 or $80,000 first on Polymarket, the probability of reaching $60,000 first is 68%, while the probability of reaching $80,000 first is 32%.

The U.S. Department of Justice's Northern California Prosecutor's Office announced that 10 executives and employees from four cryptocurrency market-making firms have been charged with allegedly manipulating token trading volumes and prices through wash trading, involving Gotbit, Vortex, Antier, and Contrarian.Three of the defendants have been extradited from Singapore to the U.S., and two others have pleaded guilty and been sentenced. The FBI and the IRS Criminal Investigation Division even created multiple cryptocurrency tokens during an undercover operation to investigate illegal volume manipulation and price inflation within the industry. Over $1 million in cryptocurrency assets have currently been seized.

The Sonic SVM Foundation announced the acquisition of ForgeX, a developer of on-chain market-making tools for the Solana blockchain, and officially open-sourced its core product, ForgeX CLI.ForgeX CLI is a set of on-chain operation tools for Solana developers, project teams, and AI Agents. It supports token creation based on multiple Launchpads, developer atomic purchases, same-block transactions, multi-wallet collaboration, volume management, and on-chain market-making across DEXs. All commands output structured JSON natively, which can be directly invoked and executed by AI Agents. The Sonic team stated that ForgeX CLI has been validated through multiple real projects, and this open-sourcing aims to lower the threshold for on-chain market-making and promote the evolution of the Solana ecosystem towards agent-driven on-chain operations.

According to Jinshi reports, Federal Reserve Chairman Powell stated that there is uncertainty in the interest rate expectations of individual decision-makers, and the dot plot is not a set plan or decision.

The official website of the U.S. Securities and Exchange Commission published a speech by Chairman Paul Atkins at the ETHDenver conference, outlining the agency's direction on cryptocurrency regulation, which mainly includes:Clarifying the "investment contract" framework: The Commission will study and publish a framework that clarifies under what circumstances crypto assets constitute investment contracts, as well as their formation and termination mechanisms.Innovation exemptions: Considering the establishment of innovation exemptions that allow for pilot trading of certain tokenized securities under restricted conditions, including limited trading on new platforms such as automated market makers, to accumulate experience for a long-term regulatory framework.Advancement of rules and guidance: Plans to initiate or advance rulemaking on topics such as financing pathways for crypto assets, broker-dealer custody for non-securities crypto assets (including payment stablecoins), and modernization of transfer agent rules; and continue to provide clarity for non-registration scenarios such as wallets and user interfaces through no-action letters and exemption orders.Regulatory philosophy: Paul Atkins emphasized that regulators should not react to short-term price fluctuations. The responsibility of the U.S. Securities and Exchange Commission is to ensure adequate information disclosure and clear rules, allowing market participants to make decisions in a transparent environment, rather than "supporting prices."

Regarding the recent widely circulated interview with "former Binance listing manager Chase," He Yi clarified that Chase is not the listing manager, but rather in BD (Business Development)."The Binance project analysis and DD (due diligence) listing team does not communicate with the project parties; all contract terms are handled by BD, but BD does not have decision-making power. Therefore, each BD needs to connect with countless projects. Listing and BD belong to two different teams with different reporting lines. Thank you all for your attention. Having different perspectives can help everyone make judgments, which is a good thing. There is no need to overinterpret yesterday's ticket boarding today's ship."ChainCatcher previously reported that former Binance listing manager Chase stated in an interview, "The Binance listing team has a total of more than a dozen people, with 4 of us, including myself, who can actually interact with projects. In my two and a half years of employment, I have seen over 1,000 crypto projects, and I estimate that around 100 projects will have their tokens listed on Binance (including Alpha) by 2025. The proportion of projects that can be listed after communicating with the founders is about 5% to 10%. Bitcoin will definitely set a historical high in 2026."

The founder of crypto market maker Wintermute, Evgeny Gaevoy, analyzed the unusual fluctuations in the 1-minute charts of Bitcoin and ETH spot markets on February 8th. He indicated that it is likely due to a market-making bot experiencing a liquidation, with losses potentially reaching tens of millions of dollars. The unusual fluctuations were caused by the bot's losses rather than any malicious intent from market makers, and Wintermute was clearly not involved.Evgeny Gaevoy further expressed skepticism regarding rumors of "large institutions facing liquidation" in the market, and even if such cases do exist, they would not have a medium to long-term impact. In contrast to the past collapses of Three Arrows Capital and FTX, where liquidation news spread quickly and there were clear signs indicating the validity of the liquidations, such as institutions seeking rescue, the current market rumors mainly come from anonymous accounts and have not been confirmed by reliable sources.The leverage in this cycle primarily comes from perpetual contracts. Trading platforms no longer take risks with user assets to invest in low-liquidity assets or extend special credit as they did in the past. The tightening of credit has resulted in institutional credit sizes being less than $2 billion, which limits the impact and makes it difficult to trigger a chain liquidation like in 2022.Previous reports indicated that on February 8th, there were unusual fluctuations in the 1-minute charts of Bitcoin and ETH spot markets, with single-minute amplitudes exceeding 1% and even 3% from 00:05 to 00:17.

According to Crypto Quant analyst Axel, the data shows that approximately 35,400 bitcoins in profit have flowed into CEX in the past 24 hours, the highest figure in nearly two months. In contrast, the outflow of loss-making coins is very low, at only about 4,600 coins. The profit/loss outflow ratio is approximately 7.5:1. Profit-taking behavior clearly dominates, with very little panic selling.Axel explains that the occurrence of high profit-taking in the context of a very low loss rate is a logical market behavior. Investors who bought in the $85,000–$92,000 range are taking the opportunity to lock in profits as prices approach their cost basis. This flow structure indicates that profit-taking behavior is driving market selling pressure, which is fundamentally different from the panic selling of loss positions. If the profit/loss ratio reverses (i.e., loss-driven selling begins to dominate), the bearish scenario will intensify, although this is not a given condition. Various charts depict a coherent picture, with the loss rate having narrowed to its lowest level, and it is precisely in this range that profit-taking behavior becomes active. Prices are testing the cost benchmark area while facing high supply pressure from profit positions.

Perpetual Contract DEX StandX launches an innovative benefit of "Rewards for Placing Orders": Users only need to place limit orders without the need for actual transactions or positions to receive Maker Points; if the order is successfully executed, they can also earn additional Trading Points rewards.As the industry's first incentive model of this kind, StandX aims to lower the market-making threshold for users and enhance market liquidity.

According to financefeeds, Crypto.com is forming an internal market-making team to expand its prediction market business, hiring quantitative traders to handle the buying and selling of contracts related to sports event outcomes.Crypto.com responded that the trading team operates within the U.S. regulatory framework and has disclosed this to the CFTC, primarily providing liquidity support for North American derivatives business rather than engaging in proprietary trading for profit. The company emphasized that both internal and external market makers operate under the same rules, and the internal team does not have order flow priority or customer data advantages.This model is not unique in the prediction market. Kalshi uses designated market makers to support trading, and Polymarket is also building internal market-making capabilities. Prediction markets require continuous liquidity to function, but the establishment of in-house market-making teams raises concerns about conflicts of interest, with the key issue being how to handle transparency, data access, and information disclosure.

The White House National Economic Council Director Kevin Hassett stated that if he were chosen to lead the Federal Reserve, he would consider President Trump's policy opinions, but the Fed's interest rate decisions would remain independent.Kevin Hassett said on CBS's "Face the Nation" last Sunday that the President has very strong and well-founded views on the Fed's actions. However, he added that the Fed's responsibility is to maintain its independence and work collectively with board members and FOMC colleagues to reach a consensus on interest rate levels.Kevin Hassett was responding to questions about Trump's comments from last Friday. Trump had stated at that time that he should be able to suggest rates set by the Federal Reserve. For months, Trump and his senior advisors have been pressuring Fed Chair Powell to cut rates while also weighing candidates to succeed Powell.

According to Bloomberg, Polymarket is hiring new team members to form an internal market-making team that may trade with clients on the company's trading platform. This functionality has previously drawn criticism from its main competitors.Sources revealed that the company has recently spoken with several traders, including sports betting traders, to invite them to join this new department. Polymarket declined to comment on this matter.

Bitget partners with La Liga (LALIGA) to launch the second promotional video, featuring Atlético Madrid star Julián Álvarez. The film centers around the creative concept of "AI as the invisible coach of stars," presenting a mirrored narrative of on-field tactics and trading strategies, showcasing how the judgment of top forwards resonates with the real-time analysis of Bitget's smart trading assistant, GetAgent. GetAgent assists users in making more robust choices in high-pressure market environments by quickly identifying market signals, organizing data, and generating strategy suggestions.This promotional video continues Bitget's advancement of the UEX (Universal Exchange) vision, bringing users a more intelligent and intuitive trading experience through the deep integration of AI and professional trading tools. The official announcement reveals that GetAgent will soon launch a new advanced analysis mode, capable of completing deeper market assessments in seconds, further enhancing trading decision efficiency.

According to Jinshi reports, the minutes of the Federal Reserve's October policy meeting show that there were significant divisions among decision-makers during last month's rate cut. Although policymakers warned that lowering rates could affect efforts to curb inflation, they ultimately decided to lower the rates. The minutes indicated that many participants supported a reduction in the target range for the federal funds rate, but some officials opposed the rate cut, expressing concerns that inflation might not return to 2% in a timely manner. Most participants believed that further reductions in policy rates could exacerbate inflation risks.