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According to Bloomberg, Strategy CEO Phong Le stated in an interview that the company will issue more perpetual preferred shares to alleviate investor concerns about the volatility of its stock price. Le mentioned that the company provides investors with a tool through the issuance of perpetual preferred shares (product name "Stretch") that offers "exposure to digital capital while avoiding volatility risk."The product has a monthly reset dividend yield, currently at 11.25%, aimed at stabilizing its trading price around the $100 par value. So far, preferred shares have made up a small portion of Strategy's financing. The company has sold approximately $370 million in common stock and $7 million in perpetual preferred shares to fund its recent Bitcoin purchases over the past three weeks.Le's statement aligns with the previous public remarks of Executive Chairman Michael Saylor. Saylor stated in an interview with CNBC on Tuesday that concerns about the market forcing the company to sell its holdings due to Bitcoin's decline are "unfounded," and reiterated the company's plan to "continue buying Bitcoin every quarter."

According to HyperInsight monitoring, as the cryptocurrency market declines, Huang Licheng has reduced his long position by 1,800 ETH in the past hour. His 25x long position in ETH has decreased to 500 ETH, approximately $869,000, with a liquidation price of $1,886.59. The account now has only $43,000 left, with a total loss of $25.9 million.

According to Jinshi reports, traders have fully priced in the possibility of the Federal Reserve cutting interest rates in July, after the market previously expected the cut to occur in June.

DWF Labs analyzed social media posts and concluded that the cryptocurrency market is currently in the volatile phase at the end of a bear market, with Bitcoin prices having fallen to around $67,000, liquidity decreasing, and leveraged positions being liquidated. The pullback at the beginning of this year peaked when Bitcoin briefly touched around $60,000, before rebounding to near $70,000. Earlier this year, Bitcoin spot ETFs saw outflows of $2.9 billion over 12 trading days, and institutional investors failed to alleviate the market decline.Andrei Grachev, a partner at the firm, believes that the crypto market is nearing the bottom, with Bitcoin prices likely to fluctuate about 15% around current levels. DWF Labs stated that seasoned investors recognize that the end of a bear market is often the worst phase, after which quiet accumulation will begin. Some institutional investors are taking this opportunity to buy Bitcoin below $70,000. Meanwhile, venture capital firms are actively investing in infrastructure, physical asset tokenization, and long-term sustainability projects. Macroeconomic factors continue to dominate the trends in the crypto industry.

Market data shows that Bitcoin whales have accumulated approximately 53,000 Bitcoins since last year, which has provided some support for the price. However, overall market demand remains relatively concentrated, raising doubts about whether the market has truly entered a recovery phase.Currently, the price of Bitcoin is still down about 40% from last year's peak, and some cryptocurrency ETF investors are in a state of unrealized losses, while institutional buying has also slowed down. Analysts believe that in the absence of broader capital participation, this round of buying is more likely to be a phase of stabilizing market behavior rather than a signal of a trend reversal.

Bitcoin mining has entered a severe phase, with unit hash rate revenue dropping to a historical low of about $35/PH. Affected by a significant market correction, the price of Bitcoin has fallen over 50% from its 2025 peak of $126,000, currently hovering around the $60,000 range. Against this backdrop, the average production cost of a single Bitcoin across the network is approximately $87,000, about 45% higher than the current market price, marking the first large-scale "underwater operation" since the bear market of 2022.CryptoQuant defines the current phase as the "surrender phase," characterized by the accelerated shutdown of old mining machines and a noticeable contraction in overall network hash rate. As a result, the stock prices of listed mining companies such as MARA Holdings and Riot Platforms have dropped over 20% this week, with funds flowing towards more stable traditional assets like gold.Meanwhile, North America's mining hubs (especially Texas) are facing severe winter storms, forcing some mining farms to limit power usage to ensure the stability of the civilian power grid. Coupled with miner exits, the network experienced a historic difficulty adjustment of about 11% on February 9. However, due to the significant drop in coin prices, the profitability recovery effect from the difficulty adjustment is limited.The industry's "Miner Profitability Sustainability Index" has fallen to 21, indicating that, except for a few operators with low electricity costs and high efficiency, most miners have completely compressed profit margins. For companies with electricity prices above $0.05 per kilowatt-hour or those still using older model mining machines, this difficulty adjustment is unlikely to reverse the risk of total shutdown.To cope with the "2026 mining winter," leading companies are accelerating their transition to artificial intelligence (AI) and high-performance computing (HPC). IREN and Core Scientific have redirected some of their data center power capacity to support generative AI businesses to secure more stable long-term contract revenues. Recently, Bitfarms announced a complete exit from Bitcoin mining to focus on its AI strategic transformation.

Tom Lee retweeted a user's post stating that Bitmine Marine (BMNR) holds a 4% stake in Beast Industries. If Mr. Beast launches an IPO and achieves a 100-fold increase, this $200 million investment would be enough to triple the BMNR price from its current base.Fundstrat excels at early identification of companies with breakthrough potential, such as Palantir, Nvidia, and Tesla. This means that as ETH revenues increase, it will achieve 10 to 20 breakthrough projects in the coming years. Combined with the Ethereum supercycle, BMNR aims to become a $1 trillion market cap Ethereum infrastructure company.As the future of finance is ETH, BMNR is an important infrastructure company for future finance, comparable in scale to Google, and is expected to achieve a 200-fold increase within 10 years.

According to market news, Grayscale pointed out in its latest research report that Bitcoin's recent price movements are highly correlated with technology stocks, rather than safe-haven assets like gold.The report's analysis shows that over the past 12 months, Bitcoin's price has been closely linked to the performance of overvalued software company stocks. When the market sold off tech stocks due to concerns about the impact of artificial intelligence on traditional software services, Bitcoin also declined. This indicates that current investors view it more as a growth asset driven by market confidence and risk appetite, rather than as a "digital gold" that can withstand volatility.Grayscale believes that while Bitcoin possesses long-term value storage characteristics such as limited supply and a decentralized network, it is still in the early stages of proving itself as a global monetary asset compared to gold, which has a currency history of thousands of years. Recently, when gold and silver prices rose, Bitcoin did not show the same trend, but instead fell in line with high-risk growth assets.

According to HyperInsight monitoring, "Brother Ma Ji" Huang Licheng's address has increased its long position in Ethereum multiple times within the last hour, and the current position size has risen to 5,025 ETH. The specific details are as follows: long 5,025 ETH at 25x leverage, opening price $2,051.2, liquidation price $1,973.4, current floating loss $265,000 (-66.6%).The "Ma Ji" address has incurred a loss of $853,400 in the past week, with total losses exceeding $25.59 million.

According to CoinDesk, SkyBridge Capital founder Anthony Scaramucci stated that despite the recent market downturn, he is still buying Bitcoin. SkyBridge Capital has increased its Bitcoin holdings at $84,000, $63,000, and the current price range, but he did not disclose the specific quantities and amounts purchased. Additionally, Anthony Scaramucci shared his views on Layer 1, believing that the programmable blockchain Solana will become one of the largest blockchains by market share.

Hyperbot data shows that Brother Ma Ji, Huang Li Cheng, has just increased his position with a 25x leveraged Ethereum long position. His current position has risen to 4,900 ETH, worth approximately 10 million USD, with a liquidation price of 1,971 USD.

JPMorgan analyst Ken Worthington significantly lowered his target price for Coinbase stock from $399 to $290 ahead of the company's fourth-quarter earnings report, which is set to be released this Thursday. Worthington remains optimistic about the stock, noting that the revised target price still implies a 75% upside from Coinbase's current price of $165.5.He expects adjusted EBITDA to be $734 million, down from $801 million in the third quarter. He stated that this would represent a sharp decline compared to previous quarters, primarily driven by decreased trading volumes, weakening cryptocurrency prices, and a slowdown in the growth of USDC stablecoin balances. Worthington anticipates that the spot cryptocurrency trading volume for the quarter will be $263 billion.He also pointed out the reduction in circulating USDC and predicted stablecoin-related revenue to be $312 million. These adverse factors are partially offset by the total quarterly revenue contributed by Deribit (the cryptocurrency derivatives exchange acquired by Coinbase last August). Including Deribit, JPMorgan's model forecasts total trading revenue of $1.06 billion, with Deribit contributing approximately $117 million based on an estimated trading volume of about $586 billion.In the previous quarter, the trading platform reported trading revenue of $1 billion. In terms of subscription and services revenue, the bank expects revenue to be $670 million, down from Coinbase's prior guidance range of $710 million to $790 million, reflecting weak cryptocurrency prices, declining staking yields, and a slowdown in USDC growth. Worthington also expects operating expenses to be below guidance due to the company's cost control measures.

JPMorgan has lowered Coinbase's target price from $399 to $290, citing factors such as a decline in cryptocurrency market trading volume, weakening asset prices, and a slowdown in USDC growth. However, the firm maintains an "Overweight" rating on Coinbase.Analysts expect Coinbase's adjusted EBITDA for the quarter to drop to approximately $734 million, a significant decline from the previous quarter, primarily impacted by reduced spot trading volume and weakened stablecoin-related revenue. JPMorgan anticipates spot trading volume for the quarter to be around $263 billion, with stablecoin-related revenue of about $312 million. Although the acquisition of the derivatives exchange Deribit by Coinbase brings additional revenue contributions, the overall market downturn continues to exert pressure on performance.In addition to JPMorgan, institutions such as Barclays and Compass Point also hold a more cautious stance, believing that retail trading, blockchain rewards, and subscription and service revenue may fall short of expectations, and continue to be highly dependent on the overall trend of the cryptocurrency market.

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.

"Wood Sister"旗下的 Ark Invest increased its holdings of Bullish shares by 57,164 shares (worth $1.83 million) on Monday, with the stock price rising by 16.76% in a single day.Previously, Ark had purchased 393,057 shares of Bullish stock on Friday, worth approximately $10.8 million.

According to The Block, Bernstein's analysts stated that the current decline of Bitcoin reflects a crisis of confidence rather than structural damage, calling it the "weakest bear market" in Bitcoin's history. Additionally, the analysts reiterated their target price of $150,000 for Bitcoin by 2026, citing increased acceptance by institutional investors, improved ETF infrastructure, and better liquidity conditions.

According to Jinshi, Federal Reserve Vice Chairman Jefferson stated that the year-on-year increase in the Personal Consumption Expenditures Price Index (PCE) for December may be 2.9%.

According to Jin10, Federal Reserve Vice Chairman Jefferson stated that the Federal Reserve's strong commitment to price stability reduces inflation risks.

According to market news, some long-dormant wallets are waking up and buying Ethereum at a low. Address 0x55C1 was dormant for 2 years and withdrew 10,000 ETH (worth $19.24 million) from Binance 6 hours ago. Address 0x1342, after being dormant for 1 year, withdrew 1,892 ETH (worth $3.75 million) from Binance 30 minutes ago.

According to Jinshi reports, MicroStrategy's stock price continues to rise, with an increase of 20%.