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According to Coinglass data, if ETH breaks through $2,072, the cumulative short liquidation intensity on major CEXs will reach $645 million. Conversely, if ETH falls below $1,879, the cumulative long liquidation intensity on major CEXs will reach $620 million.

According to Coinglass data, if BTC breaks through $71,398, the cumulative short liquidation intensity on major CEXs will reach $939 million. Conversely, if BTC falls below $64,937, the cumulative long liquidation intensity on major CEXs will reach $919 million.

The latest report from blockchain analysis company Elliptic points out that a cryptocurrency exchange related to Russia, known as the "shadow network," is assisting in evading international sanctions through large-scale cryptocurrency transactions and names five platforms, most of which have not yet been sanctioned and still provide Russian entities with funding channels to bypass traditional banking regulations. Among them, ABCeX is identified as the largest, having processed at least $11 billion in cryptocurrency transactions.The report also notes that although Exmo claims to have exited the Russian market, on-chain data shows that it still shares custodial wallet infrastructure; Rapira, registered in Georgia and with an office in Moscow, is said to have direct transactions exceeding $72 million with the sanctioned exchange Grinex; Bitpapa evades monitoring by frequently changing wallet addresses; and Aifory Pro provides cash-to-crypto exchange services in Moscow, Dubai, and Turkey.Analysis indicates that the previously targeted cryptocurrency-related sanction evasion infrastructure in Russia has not disappeared but has instead dispersed across more platforms.

According to FinanceFeeds, Uniswap founder Hayden Adams has warned that search engine ads impersonating Uniswap continue to appear, resulting in users losing all their high-value crypto assets. Scammers purchase ads for keywords like "Uniswap" to place fake websites at the top of search results, with designs that closely resemble the official site. Once users connect their wallets and authorize transactions, their funds can be immediately transferred away.These types of attacks rely on user signature authorization rather than protocol-level vulnerabilities. An X platform user "Ika" reported losing crypto wallet assets worth hundreds of thousands of dollars after clicking on a fake link in the search results. Screenshots he disclosed show that the fake link was at the top of the search results, making it highly misleading. Similar incidents occurred in October 2024, where scammers replicated the Uniswap website interface and induced users to connect their wallets through subtle button changes.Data from security firm CertiK indicates that in January 2026, the crypto industry lost approximately $370.3 million due to exploits and scams, marking a nearly 11-month high and nearly four times the losses of January 2025. One single social engineering attack resulted in losses of about $284 million. A total of 40 related security incidents were recorded in January. Analysis points out that current crypto asset losses are increasingly stemming from phishing links, false ads, and social engineering attacks, rather than underlying smart contract vulnerabilities. As the DeFi ecosystem expands, brand impersonation and interface fraud are becoming significant risks affecting user trust.

According to Coinglass data, if ETH falls below $1,880, the cumulative long liquidation intensity on major CEXs will reach $612 million. Conversely, if ETH breaks above $2,069, the cumulative short liquidation intensity on major CEXs will reach $593 million.

According to Coinglass data, if BTC falls below $64,915, the cumulative long liquidation intensity on major CEXs will reach $882 million. Conversely, if BTC breaks above $71,234, the cumulative short liquidation intensity on major CEXs will reach $870 million.

According to Coinglass data, if ETH falls below $1,890, the cumulative long liquidation intensity on major CEXs will reach $749 million. Conversely, if ETH breaks above $2,073, the cumulative short liquidation intensity on major CEXs will reach $558 million.

According to Coinglass data, if BTC falls below $65,082, the cumulative long liquidation intensity on major CEXs will reach $1.121 billion. Conversely, if BTC breaks above $71,401, the cumulative short liquidation intensity on major CEXs will reach $853 million.

According to Binance spot data, the market has experienced significant fluctuations. CTSI has dropped by 12.98% in 24 hours, SXP has decreased by 13.18%, and RPL has fallen by 14.81%.At the same time, ICP has reached a new high today, with a 24-hour increase of 5.75%. AGLD has also performed well, with an increase of 11.68%, showing a significant surge in volume.

According to Coinglass data, if ETH falls below $1,882, the cumulative long liquidation intensity on major CEXs will reach $825 million. Conversely, if ETH breaks above $2,066, the cumulative short liquidation intensity on major CEXs will reach $584 million.

According to Coinglass data, if BTC falls below $64,821, the cumulative long liquidation intensity on major CEXs will reach $1.64 billion. Conversely, if BTC breaks above $70,998, the cumulative short liquidation intensity on major CEXs will reach $1.282 billion.

Cryptanalysis expert Murphy stated that analyzing on-chain data from both spatial and temporal dimensions, the current distance to the "bear bottom" is no longer far off. In terms of space, taking the previous cycle as an example, in June 2022, BTC dropped to a low of $17,000, which is not far from the ultimate absolute bottom price of $15,000, indicating that it is already in the "bear bottom" range spatially. However, it took a full 7 months to truly emerge from and complete the bottom reconstruction.Currently, the "space" is getting closer to the bear bottom, but there is still a considerable distance in terms of "time." It is crucial to observe the behavior of conviction-driven buyers (Conviction Buyers, hereinafter referred to as CB), who, as the smartest diamond hands in this market, often buy during declines and sell after increases. In other words, rather than saying they frequently buy at the bottom, it is more accurate to say that the bottom is often constructed by this group of buyers. As of February, conviction buyers have accumulated a holding of 3.48 million BTC, setting a new record for this cycle. Since January of this year, they have significantly increased their holdings by 1.22 million BTC, a figure that far exceeds the previous cycle's events during the 5.19 incident, LUNA crash, and FTX collapse. Moreover, the current BTC price is higher than the aforementioned time points, indicating that "smart decision-makers" are investing more funds at this time.Although the final bottom position is difficult to predict, for the CB group, they do not hope to go all-in at the lowest point; as long as there is sufficient cost-effectiveness, they will continue to buy until all excess supply is absorbed. When a balance is achieved on both the supply and demand sides, it forms the bottom range of the bear market, after which, through months of consensus reconstruction, a new trend will emerge. From historical data, the determination and strength currently exhibited by conviction-driven buyers fully meet the standard of "not far from the bear bottom."

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $140 million, with long positions liquidated at $53.78 million and short positions liquidated at $85.90 million. Among them, Bitcoin long positions were liquidated at $18.96 million, Bitcoin short positions at $30.04 million, Ethereum long positions at $10.98 million, and Ethereum short positions at $19.12 million.In addition, in the last 24 hours, a total of 64,171 people were liquidated globally, with the largest single liquidation occurring on Bybit - BTCUSDT worth $2.01 million.

Cryptocurrency analyst Michaël van de Poppe stated that the recent pullback in Bitcoin has led to a significant surge in realized losses, reaching an all-time high. This is one of the largest realized loss events in Bitcoin's history, comparable to the 2018 bear market crash, the March 2020 COVID-19 plunge, and the loss peaks during the 2022 Luna/FTX collapse.A large number of holders are capitulating, either selling at a loss or transferring their BTC while in a losing position. Such extreme loss realization typically indicates panic selling in the market and passive liquidations. Historically, similar large-scale surges in realized losses often occur at or near cyclical bottoms, as this represents the complete clearing out of "weak hands" and high-leverage positions.It is noteworthy that the Sharpe Ratio has dropped to its lowest level since the last bottom; the market is experiencing a massive capitulation event with extremely high realized losses; market sentiment has nearly reached a freezing point. The only difference this time is that Bitcoin is down about 50% from its historical high, rather than 80%. The bottom is near.

According to Coinglass data, if ETH falls below $1,874, the cumulative long liquidation intensity on major CEXs will reach $860 million. Conversely, if ETH breaks above $2,057, the cumulative short liquidation intensity on major CEXs will reach $732 million.

According to Coinglass data, if BTC falls below $64,765, the cumulative long liquidation intensity on major CEXs will reach $1.755 billion. Conversely, if BTC breaks above $71,013, the cumulative short liquidation intensity on major CEXs will reach $1.318 billion.

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $159 million, with long liquidations amounting to $67.252 million and short liquidations totaling $91.8055 million. Among them, Bitcoin long liquidations were $24.4483 million, Bitcoin short liquidations were $34.1725 million, Ethereum long liquidations were $14.9402 million, and Ethereum short liquidations were $15.9575 million.In addition, in the last 24 hours, a total of 71,777 people were liquidated globally, with the largest single liquidation occurring on Bybit - BTCUSDT worth $2.0103 million.

According to Coinglass data, if ETH falls below $1,861, the cumulative long liquidation intensity on major CEXs will reach $851 million. Conversely, if ETH breaks above $2,054, the cumulative short liquidation intensity on major CEXs will reach $764 million.

According to Coinglass data, if BTC falls below $64,281, the cumulative long liquidation intensity on major CEXs will reach $1.706 billion. Conversely, if BTC breaks above $70,977, the cumulative short liquidation intensity on major CEXs will reach $1.572 billion.

According to The Block, the GENIUS money market ETF launched by ProShares (ticker: IQMM) achieved a historic trading volume of $17 billion on its first trading day, far exceeding the $1 billion debut of the BlackRock Bitcoin ETF (IBIT) launched in 2024.This ETF is designed specifically for holding assets that meet the U.S. stablecoin reserve requirements and fully complies with the GENIUS Act signed last year, which mandates that stablecoin issuers must back their tokens with safe, highly liquid assets such as U.S. Treasury securities on a 1:1 basis. Analysts speculate that most of the funds may come from the stablecoin issuer Circle.