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ZEC $294.75 -9.88%
BTC $68,414.17 -2.18%
ETH $1,948.52 -6.77%
BNB $613.70 -2.92%
XRP $1.47 -1.86%
SOL $85.69 -3.21%
TRX $0.2803 -0.75%
DOGE $0.1021 -8.72%
ADA $0.2801 -5.60%
BCH $553.82 -1.84%
LINK $8.71 -4.51%
HYPE $30.37 -4.31%
AAVE $124.46 -3.66%
SUI $0.9675 -6.31%
XLM $0.1692 -3.14%
ZEC $294.75 -9.88%

mina

Wintermute: The AI sector is siphoning off market liquidity, and persistent selling pressure in the U.S. is dominating the market. Bitcoin is entering a high volatility price discovery phase

Wintermute stated that Bitcoin briefly fell to $60,000 last Monday, erasing all gains since Trump's election. Spot fund flows show significant structural pressure. The Coinbase premium has consistently been in a discount state throughout the market process, persisting since last December, indicating ongoing selling pressure from the U.S.Internal OTC fund flow data also confirms that U.S. counterparties were the main sellers throughout the week, and this trend has been further amplified by continuous ETF fund redemptions. Over the past few months, AI-related assets have been continuously absorbing available market funds, crowding out the allocation space for other asset classes. The phenomenon where crypto assets underperform when AI-related companies rise and experience amplified declines when they fall can almost entirely be explained by the rotation of funds towards the AI sector.For crypto assets to outperform again, AI trading needs to cool down first. Microsoft's weak earnings report has initiated this process, but it is still far from enough. Last week's market was like a "surrender-style" clearing, with volatility soaring and buying support emerging at $60,000. In an environment where spot trading remains relatively low, leverage has become the dominant factor in price fluctuations.If open interest cannot significantly rebound, it will be difficult for the market to form sustained follow-through on either the long or short side. A true structural recovery requires a return of spot demand, but there is currently almost no evidence of this. We are likely entering a phase of high volatility and choppy price discovery. It will be hard to see sustained upward potential until the Coinbase premium turns positive, ETF fund flows reverse, and basis rates stabilize. Meanwhile, retail attention is being diverted to other asset classes, and market direction seems increasingly dominated by institutional fund flows from ETFs and derivatives channels.

Hong Kong Chief Executive's Policy Group Digital Finance Seminar: Shifting from Financial Innovation to Serving the Real Economy and Promoting High-Quality Financial Development

According to Sing Tao Daily, the Hong Kong Chief Executive's Policy Unit held a digital finance seminar on February 8, 2026. Participants included a research team from the Financial Research Institute of the People's Bank of China, the chairman of the board of Yuan Coin Technology, members of the Web 3.0 Development Task Force, and experts such as former Monetary Authority Chief Executive Norman Chan.The meeting discussed how Hong Kong can contribute to the country's goal of becoming a "financial powerhouse" through the high-quality development of digital finance. The focus was on three main aspects: the application scenarios of digital finance, balancing regulation with innovative development, and connecting with the mainland's digital financial infrastructure to achieve coordinated development.The head of the Chief Executive's Policy Unit, Huang Yuanshan, stated that Hong Kong should seize the wave of digitalization and promote high-quality financial development to support the goal of becoming a financial powerhouse. Hong Kong has advantages in technological infrastructure, an active market, and a favorable policy environment. The application of digital finance should shift from financial innovation to serving the real economy, such as promoting the tokenization of assets to extend to real-world assets like precious metals and renewable energy, addressing issues like poor liquidity and cumbersome transactions associated with traditional assets.

Gate Research Institute: BTC implied volatility rises to the 81st percentile for the year, with put spread strategies dominating the market

According to observations from Gate Research Institute, the current implied volatility (IV) for BTC and ETH is approximately 50% and 70%, respectively. The BTC IV is at about the 81.7% percentile over the past year, reflecting a significant increase in the options market's expectations for short-term price volatility.In the past week, the 25-Delta Skew for BTC and ETH has remained in negative territory, with a noticeable steepening at the short end, indicating an increase in short-term hedging demand and greater sensitivity to downside volatility. However, the mid-to-long-term structure remains relatively stable, suggesting a cautious sentiment rather than a trend-based bearish outlook, with the market leaning towards short-term defense and waiting for directional clarity.In the last 24 hours, large options trades for BTC and ETH have primarily involved put spreads: the largest structure for BTC is buying 75k-P / selling 80k-P for 27MAR26, approximately 1,500 BTC, with a net premium received of $370,000; for ETH, it is buying 1800-P / selling 1500-P for 27FEB26, approximately 15,000 ETH, with a net premium paid of $320,000.Gate has comprehensively upgraded its options VIP fee structure, covering all options varieties, achieving substantial fee reductions from entry-level to professional. VIP0 can enjoy lower rates without asset or trading volume thresholds, giving beginners a cost advantage from the start; during the growth phase, upgrading to lower rates can be achieved with "hundred-thousand assets, million-level trades," with thresholds far below the billion-level trading or high asset requirements of mainstream platforms; professional and institutional users at VIP10+ can enjoy industry-low rates of Maker 0% and Taker 0.015%, truly designed with options traders at the core.

U.S. Senator warns that the UAE's deal with WLFI may involve criminal activity

According to Decrypt, U.S. Senator Chris Murphy from Connecticut has warned that a deal involving UAE investors secretly paying Trump-associated cryptocurrency firms may involve potential criminal activity. Murphy alleged that four days before Trump's inauguration, Aryam Investment, linked to UAE Sheikh Tahnoon bin Zayed, agreed to acquire 49% of Trump-associated cryptocurrency company World Liberty Financial for $500 million, with approximately $187 million flowing to entities associated with the Trump family and at least $31 million going to family-associated entities of Trump's Middle East envoy, Steve Witkoff.Subsequently, the Trump administration approved the expansion of UAE's access to advanced U.S. AI chips, which had been restricted during the Biden administration. In his Senate speech, Murphy summarized the accusation as: a secret massive transfer of funds to Trump and envoy-associated families, followed by the U.S. sharing restricted security technology with the UAE. He stated that this is corruption, constitutes elements of bribery, and is potential criminal behavior, warning that although accountability may be delayed, the consequences are inevitable, the rule of law will return, and those who trade power for money will go to jail. Previously, it was reported that a confidant of the Abu Dhabi royal family secretly invested $500 million to acquire 49% of the Trump family's WLFI company; Trump responded that he was unaware of the $500 million investment from Abu Dhabi into WLFI, and that his sons were handling it.
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