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UPBIT will terminate trading support for Nomina (NOM) on March 30, 2026, at 15:00. The affected trading pairs include NOM/KRW, NOM/BTC, and NOM/USDT. Users must complete withdrawals by April 30, 2026, otherwise, withdrawals will not be possible.

According to observations from Gate Research Institute, the current implied volatility (IV) for BTC and ETH is approximately 53% and 69%, respectively. The BTC IV is near the 88th percentile of the past year, reflecting a significant increase in the options market's expectations for short-term price volatility. Over the past week, the 25-Delta Skew for BTC and ETH has remained in negative territory, initially converging before sharply dropping to -18 vol on the short end around the 23rd to 24th, indicating a temporary rise in risk aversion; subsequently, the Skew quickly recovered, showing that the impact is driven by short-term events.From the GEX distribution perspective, Gamma is concentrated around the end of February expiration, putting pressure on short-term volatility; there is negative Gamma in mid-March, and if this range is reached, volatility may be amplified, posing a structural switching risk. In the past 24 hours, large options trades for BTC and ETH have been predominantly bullish: the largest structure is BTC 27MAR26 buy 90k-C / sell 100k-C, approximately 600 BTC, with a net premium expenditure of $70,000; for ETH, it is 27MAR26 buy 2500-C, approximately 9,000 ETH, with a net premium payment of $220,000.Gate has fully upgraded its options VIP fee structure, covering all options products, achieving substantial fee reductions for users from beginners to professionals. VIP0 can enjoy lower rates without asset or transaction thresholds, giving newcomers a cost advantage from the start; during the growth phase, users with "hundred-thousand assets, million transactions" can upgrade to lower rates, with thresholds far below the billion-level transaction or high asset requirements of mainstream platforms; professional and institutional users at VIP10+ can enjoy extremely low rates of Maker 0% and Taker 0.015%, truly achieving cost optimization across all stages.

According to a report by The Wall Street Journal citing informed sources, the Federal Reserve is secretly initiating a legal challenge in response to two subpoenas issued by U.S. prosecutor Jeanine Pirro in the criminal investigation against Powell.Pirro, a longtime ally of President Trump, launched the investigation to examine whether Powell made false statements to Congress last summer regarding the Federal Reserve building renovation project. This action prompted Powell to respond publicly in an unprecedented manner, stating in a video statement on January 11 that the investigation is a guise for Trump's ongoing pressure on the Federal Reserve to cut interest rates and undermine the central bank's independence.In the secret proceedings, the Federal Reserve is requesting the judge to quash the subpoenas to reduce or eliminate its obligation to respond. The specific legal arguments have not been disclosed. In high-profile investigations, it is not uncommon for recipients of subpoenas to challenge prosecutors on the grounds that the requests are overly broad or involve information protected by legal privilege.Due to the confidentiality rules applicable to criminal investigations before grand juries, this legal battle is quietly ongoing and not open to the public.

According to Eleanor Terrett, U.S. Republican lawmakers Fitzgerald (Wisconsin), Cline (Virginia), and Democratic lawmaker Lofgren (California) jointly proposed the "Blockchain Innovation Development Act," aimed at clarifying the applicability of Section 1960 of the Criminal Code.The bill explicitly states that Section 1960 applies only to entities that control customer funds, rather than developers who merely write code. Previously, in cases like TornadoCash and SamouraiWallet, regulators had applied this provision to non-custodial software developers, leading to a strong backlash from the crypto industry. This bill will provide legal protection for blockchain developers and address the long-standing conflict between crypto innovation and regulation.

According to data from Greeks.live, 116,000 BTC options will expire this Friday, with a Put Call Ratio of 0.76, a maximum pain point of $75,000, and a nominal value of $7.9 billion. 206,000 ETH options will also expire this Friday, with a Put Call Ratio of 0.77, a maximum pain point of $2,200, and a nominal value of $980 million.Greeks.live analyst Adam stated that the current cryptocurrency market remains sluggish, with the entire February trend weakly oscillating above $60,000. Tomorrow, options representing 20% of the total open interest will expire, totaling nearly $9 billion, with Bitcoin's open interest reaching a peak in recent years. Thanks to a rebound in the past two days, the implied volatility of Bitcoin and Ethereum has increased this week, with BTC's main expiry IV at 47% and ETH's main expiry IV at 65%. The downward price trend has eased somewhat, but market confidence is still lacking.In terms of trading, large bullish options dominate the market, with a significant amount of medium to long-term bullish trades following yesterday's rebound. From the main options data, the Skew has also rebounded comprehensively, indicating a bottom-fishing force in the market. Adam added that the market is still in a bear phase, with no new funds entering the cryptocurrency space and no obvious hotspots, while pessimistic sentiments are prevalent on social media, suggesting that bottom panic may not have arrived yet.

According to Deribit data, at 16:00 tomorrow, the options expiration will take place, including:BTC options nominal value of 7.9 billion USD, put/call ratio of 0.76, maximum pain point of 75,000 USD;ETH options nominal value of 967 million USD, put/call ratio of 0.77, maximum pain point of 2,200 USD.

CryptoQuant analysis indicates that Bitcoin's current price is hovering in the $62,000 - $68,000 range, with the funding rate in the futures market remaining in negative territory, suggesting that bearish sentiment is dominating the market. This is different from the previous bottom around $80,000, where the funding rate mostly stayed positive.Since 2025, the dominant force in the market has been selling pressure, with buy orders only used to absorb supply. The current selling pressure has reached its highest level in three months. Notably, the futures market has maintained a high leverage state for 16 consecutive months, and excessive leverage has been decreasing since Bitcoin's last historical peak. Analysts point out that while the price drop has forced some investors to liquidate, it has actually improved the market's leverage health, which is a positive signal in the long run.

According to Kommersant, Russian President Vladimir Putin has signed a new law that grants Russian courts new powers to confiscate cryptocurrencies in criminal investigations.The law will amend the Russian Criminal Code to classify cryptocurrencies as a form of intangible property. Elena Ardabyeva, Deputy Minister of Justice of Russia, stated that the law formally incorporates existing digital asset confiscation protocols into the legal framework and provides a legal avenue for cooperation with foreign cryptocurrency exchanges.The law stipulates that requests for the confiscation of cryptocurrencies made by police or prosecutors must include detailed information such as the type of tokens, quantity, and wallet addresses. Experts suggest that the Kremlin may begin to block citizens' access to foreign cryptocurrency exchanges this year.

According to ForkLog, several Russian media outlets cited information from the country's Federal Security Service stating that Telegram founder Pavel Durov is under criminal investigation for allegedly assisting terrorist activities, in accordance with Article 205.1, Clause 1.1 of the Criminal Code of the Russian Federation (assisting terrorist activities).The investigation involves the dissemination of illegal content, with accusations that the platform's administrators ignored requests from the Russian communications regulator to delete banned channels and chats, and that Telegram has been used for criminal activities and for publishing materials from extremist and terrorist organizations.The Russian communications regulator began restricting the service in the summer of 2025 due to an increase in fraudulent activities, and in February 2026, it intensified "traffic limiting" measures on the grounds that the platform was not complying with Russian laws. Durov responded at the time by stating that "Telegram defends freedom of speech and privacy."

Presto Research Associate Researcher Min Jung stated that Bitcoin's drop below $63,000 seems to reflect a broad deterioration in cryptocurrency market sentiment rather than a single fundamental catalyst. In the short term, macro headlines, particularly those surrounding tariffs and resurfacing geopolitical uncertainties, are exacerbating the risk-off sentiment towards digital assets.Jung added, "It is noteworthy that even as traditional risk assets remain relatively resilient, cryptocurrencies have performed poorly recently. This divergence suggests that the sell-off is not purely driven by macro factors, but also reflects weak marginal demand, thinning liquidity conditions, and ongoing deleveraging within the crypto-native market."Bitrue Research Director Andri Fauzan Adziima stated, "We have seen massive long liquidations, with hundreds of millions evaporating, funding rates remaining negative, a sharp decline in open interest, and the futures market clearly leaning bearish. Short-term holders are suffering significant losses, but long-term holders have not yet begun large-scale selling; on-chain HODL signals indicate that some are quietly accumulating during this strategic de-risking process."Adziima pointed out that the $60,000-$63,000 range is a key support area for Bitcoin. If the price can hold steady at or above this level, the market may benefit from the damage caused to shorts by negative funding rates, creating conditions for a classic "squeeze after a washout." The analyst added that potential easing of macroeconomic conditions or a return of ETF funds could further support this trend.Adziima stated that, on the other hand, if it falls below $60,000, in the worst-case scenario, an accelerated chain liquidation due to worsening macro conditions could open the door to a drop towards the mid-$55,000s or even as low as $47,000. Adziima remarked, "At that point, we might ultimately force some long-term holders to capitulate, turning this into a deeper bear market extension before the true cycle bottom arrives."

According to The Block, in the current bear market environment, the inflow of funds to Bitcoin trading platforms is dominated by large holders. Data shows that the whale ratio on trading platforms has risen to 0.64, the highest level since October 2015, indicating that 64% of the Bitcoin inflow to trading platforms comes from the top ten single deposit addresses, showing that large investors are leading the sell-off.At the same time, the average single transaction inflow to Bitcoin trading platforms has risen to 1.58 BTC, the highest level since the mid-point of the last bear market in June 2022. However, after Bitcoin pulled back to around $60,000 earlier this month, total inflows to trading platforms briefly surged to about 60,000 BTC (the highest since November 2024), before falling back to a 7-day average of about 23,000 BTC, a decrease of about 60% from the peak, indicating that the phase of panic selling has eased, but the overall inflow level is still higher than in previous months.In terms of altcoins, selling pressure is also evident. Since 2026, the average daily number of deposits for altcoins on trading platforms has been about 49,000, a 22% increase from about 40,000 in the fourth quarter of 2025. CryptoQuant points out that high altcoin deposits usually indicate rising volatility and reflect weak market confidence in non-Bitcoin assets. Additionally, the inflow of stablecoins has significantly declined. The daily net inflow of Tether (USDT) to trading platforms has dropped from a peak of $616 million in November 2025 to about $27 million recently, with multiple instances of net outflows during this period, including a single-day net outflow of $469 million on January 25, 2026.The institution believes that the decrease in stablecoin inflows means that the "ammunition" for marginal buying has diminished. Overall, CryptoQuant believes that the current market structure shows characteristics of concentrated Bitcoin selling at whale addresses, widespread distribution of altcoins, and a contraction in stablecoin liquidity, indicating that in the ongoing bear market phase, market demand is limited, and prices face further volatility risks.

According to a report by Hong Kong media Orange News, the President of the Hong Kong Securities and Futures Professionals Association, Chen Zhi-hua, disclosed that the Hong Kong virtual asset industry is facing a sudden "compliance storm." Practitioners in related businesses have reported encountering bewildering regulatory requirements during the application process for virtual asset-related business qualifications. The existing written policy requires an additional 5 hours of Continuing Professional Training (CPT).However, the latest requirements were not issued through formal written documents or public guidelines, but were communicated "quietly" to license upgrade applicants in the form of verbal notifications or individual emails, stating that all responsible officers (RO) for relevant license upgrades, including those who have already obtained upgrade qualifications, must pass a virtual asset regulation exam conducted by a designated single institution. This nearly "invisible" directive undermines the transparency and fairness that regulatory agencies should uphold.Chen Zhi-hua suggested maintaining the original requirement of an additional 5 hours of Continuing Professional Training (CPT) and urged regulatory agencies to immediately suspend the enforcement of exam requirements through invisible policies.

According to CoinDesk, data from Deribit shows that as Bitcoin experiences a significant pullback to around the $66,000 range, the nominal value of $40,000 put options has reached approximately $490 million, highlighting an increased demand for hedging against downside risks in the market.Additionally, Bitcoin options with a nominal value of about $7.3 billion will expire at the end of this month, with $566 million accumulated at the $75,000 strike price, which is currently the "maximum pain point." Although the total number of call options still exceeds that of put options (63,547 call option contracts versus 45,914 put option contracts), the open interest ratio between the two stands at 0.72. However, the large put positions at lower strike prices indicate a clear demand for downside protection, as traders hedge against potential further declines while maintaining exposure to a rebound.

The cryptocurrency research institution 10X Research points out that although the price of Bitcoin has fallen by 46% from its peak, Bitcoin ETFs have only recorded a net outflow of $8.5 billion, which is a relatively moderate decrease compared to the total assets of the ETFs.The structural characteristics of ETF ownership show that the dominant players are market makers and hedge funds focused on arbitrage, whose positions are mostly hedged or market-neutral rather than directional bets on Bitcoin. Additionally, there is a significant proportion of long-term institutional investors, who have a low turnover rate and longer investment horizons.According to the latest 13F filings for the fourth quarter of 2025, it is estimated that 55-75% of the $61 billion assets of BlackRock's IBIT are still held by market makers and hedge funds focused on arbitrage. During the consolidation period of Bitcoin prices around $88,000 in the fourth quarter of 2025, market makers reduced their exposure by approximately $1.6-2.4 billion, reflecting a decline in speculative demand and a decrease in arbitrage demand.

According to official news, YZi Labs announced that it has submitted a revised preliminary consent solicitation statement to the U.S. Securities and Exchange Commission (SEC), which is currently under review. This solicitation aims to expand the size of the company's board of directors and elect nominated director candidates to the board through written consent from CEA Industries shareholders.

According to Jinshi reports, the Trump administration is preparing for the nomination of Walsh as the Federal Reserve Chairman.

AI giant Anthropic announced this morning that it has completed a $30 billion financing round at a valuation of $380 billion, led by Singapore's sovereign wealth fund GIC and Coatue Management, with other investors including large tech companies like Nvidia and Microsoft.Musk angrily criticized Anthropic in his announcement, stating that it "hates white people and Asians, especially Chinese, heterosexuals, and men. This is a misanthropic evil that must be corrected." Musk claimed that "Anthropic cannot avoid the inevitable irony of 'humanism' ultimately evolving into 'misanthropy.' When you chose this name, you sealed that fate."Previously, some AI users reported that Anthropic's large language model exhibits bias in its responses to certain specific questions. For example, the model assigns significantly lower value scores to white lives compared to Black, South Asian, and East Asian lives in extreme moral dilemma questions like "whose life is more valuable."

According to Jinshi News, Nick Rees, the head of macro research at Monex, stated in a report that the January U.S. employment data performed strongly, eliminating market bets on a rate cut by the Federal Reserve in March. However, Monex still expects the Federal Reserve to resume rate cuts in June. Rees pointed out that the market is digesting this robust employment data, and expectations for rate cuts are naturally decreasing.

According to Deribit data, at 16:00 tomorrow, the options expiration will take place, including:BTC options nominal value of 2.52 billion USD, put/call ratio of 0.76, maximum pain point of 75,000 USD;ETH options nominal value of 390 million USD, put/call ratio of 0.93, maximum pain point of 2,200 USD.

The U.S. Department of Justice announced that the cryptocurrency trading platform Paxful Holdings Inc. has been fined $4 million for failing to establish effective anti-money laundering controls.Prosecutors alleged that the platform has long allowed illegal funds related to fraud, prostitution, and human trafficking to flow through it, profiting from these activities. The Department of Justice stated that Paxful was aware that some customer funds were derived from criminal activities but continued to provide services, using lax anti-money laundering regulations as a selling point to attract users. The investigation also pointed out that the platform processed cryptocurrency transactions for websites including Backpage, which is believed to have been used to post advertisements related to prostitution, involving minors. Data shows that from 2015 to 2022, approximately $17 million worth of Bitcoin flowed through Paxful wallets to related websites, with the platform earning at least $2.7 million in profits from this. The Department of Justice stated that Paxful's founder even referred to the resulting business growth as the "Backpage Effect."