retreat

In early February 2026, the silver price experienced a significant correction after a rapid rise in the previous period. During the year, the silver price once reached above $120 per ounce, then fell back to the $70-$80 range, with price fluctuations significantly amplifying during the high-level retreat. The market generally believes that this round of行情 is mainly influenced by the temporary easing of short squeeze, tight supply structure, and fluctuating industrial demand expectations, keeping short-term trading sentiment active.According to CoinGlass data, XAG (silver) had a 24-hour trading volume of approximately $518 million on the Gate platform, ranking third in the entire network, with an increase of 211.80%, ranking first. Meanwhile, Gate's XAG open interest reached $12.71 million, ranking in the top three, reflecting the increasing participation of funds in the silver volatility market.Currently, Gate contracts have fully covered traditional financial assets, supporting 24/7 uninterrupted contract trading for silver and other underlying assets, offering up to 100 times leverage; Gate ETF has launched XAG3L and XAG3S leveraged tokens, supporting 3 times long and short strategies. At the same time, the Gate TradFi sector has simultaneously opened CFD trading services for silver, gold, foreign exchange, indices, commodities, and some popular stocks, supporting up to 500 times leverage.In the future, Gate will continue to improve the collaborative layout of traditional financial assets and crypto assets, providing users with a more flexible, one-stop, and diversified trading experience.

According to Gate market data, spot silver has fallen below $81 per ounce, down 8.17% for the day.

According to GMGN monitoring, influenced by Circle CEO Jeremy Allaire's mention of the Purch project on X, the Solana chain's token PURCH saw its market cap rapidly increase, reaching a high of $19 million in a short period, before significantly retreating. Its current market cap is reported to be around $7.5 million, with a current price of approximately $0.0075, and a 24-hour increase of 420%.ChainCatcher reminds users that meme coin trading is highly volatile, largely dependent on market sentiment and speculative hype, and lacks actual value or use cases. Investors should be aware of the risks.

Cryptocurrency custody company BitGo Holdings went public on the New York Stock Exchange on Thursday, with its stock price experiencing significant volatility on the first day of trading. The company's Class A shares (BTGO) surged quickly after the opening, soaring 36% to $24.50 at one point during the day, but subsequently gave back much of the gains. BitGo's IPO was priced at $18 per share, raising approximately $213 million, with an overall company valuation exceeding $2 billion. By the close, BTGO was at $18.49, up about 2.7% for the day; in after-hours trading, the stock price fell back to around $18.35, essentially returning to the offering price.Market participants noted that the significant volatility on BitGo's first day of trading reflects investors' heightened attention and divergent expectations regarding cryptocurrency infrastructure companies. Meanwhile, its peers, such as Anchorage Digital and Kraken, have also been reported to be evaluating the possibility of launching IPOs this year.

According to GMGN monitoring, the market capitalization of the Meme coin WOULD on the Solana chain has peaked at 110 million USD, currently slightly retracing to 85 million USD, with a current price of about 0.085 USD, and a 24-hour increase of 80%. It is reported that this token has been continuously rising since January 2, with a cumulative increase of 223.5%.Additionally, monitoring shows that yesterday at 3 PM, the address with the largest purchase in the last 24 hours (6kuz) bought about 1.23 million WOULD tokens at an average price of 0.056 USD, currently showing a profit of 50%. This Meme originated from a humorous tweet by WouldCoinDev on Twitter about Japanese Prime Minister Fumio Kishida. After Elon Musk tweeted "I love this meme" along with an image of the meme, it surged significantly, with a market cap peak reaching 700 million USD. This Meme coin has been online for 529 days. ChainCatcher reminds users that trading in Meme coins is highly volatile, largely relying on market sentiment and speculative hype, and has no actual value or use case; investors should be aware of the risks.

Suspected "1011 Insider Whale" Garrett Jin posted on the X platform, stating that the prices of precious metals such as platinum, palladium, and silver, the "leaders," have seen a significant decline, while the prices of Bitcoin and Ethereum have begun to rebound.Currently, the funding positions for these precious metals in the market have become overly crowded, and the severe overbought conditions in the short term have increased risks, leading to profit-taking. As a result, market funds will shift from overheated trades to relatively undervalued assets.Garrett Jin previously stated that the rise in silver, palladium, and platinum is merely a short-term squeeze and is unsustainable. Once prices begin to reverse, it is likely to drag down gold prices as well, with market funds shifting from precious metals to Bitcoin and Ethereum.

According to Barron's, Bitcoin prices are under downward pressure as the latest U.S. employment data failed to significantly alter the market's expectations for future interest rate cuts by the Federal Reserve, reflecting the continued significant impact of macro employment indicators on the short-term trends of digital assets.The "mixed" signals from the current employment data have not led to greater expectations for monetary easing, thereby putting pressure on cryptocurrencies like Bitcoin.

According to Futu data, Hashkey Holdings (03887.HK) opened on the Hong Kong stock market and briefly surged to around HKD 7.8, now retreating to HKD 6.76, with a market capitalization currently reported at HKD 18.693 billion. Previously, its dark market price had risen over 13%, pushing its market capitalization to around HKD 21 billion.

According to 10x Research, the crypto market recorded the lowest trading volume range since July last week, with Bitcoin facing resistance again around 92,000 USDT. Despite the high probability of interest rate cuts, the price failed to break through this key resistance level.The report shows that the total market capitalization of crypto is approximately 3.1 trillion USD, up 4% from the previous week, with an average weekly trading volume of 127 billion USD, which is 32% lower than the average. Among them, Bitcoin's weekly trading volume is 59.9 billion USD, which is 31% lower than the average; Ethereum's weekly trading volume is 21.1 billion USD, which is 43% lower than the average, and its network fees (0.05 Gwei) are in the 5th percentile, reflecting low on-chain activity.In terms of derivatives, the funding rate for Bitcoin futures rose to 4.3%, in the 20th percentile over the past 12 months, while open interest in futures decreased by 1.1 billion USD to 29.7 billion USD; the funding rate for Ethereum rose to 20.4%, in the 83rd percentile, with open interest increasing by 900 million USD to 16.2 billion USD. Currently, the open interest in Bitcoin and Ethereum futures accounts for 56% and 72% of their market capitalization, respectively.

According to Binance spot market data, multiple tokens have experienced a rise and fall in the market. PARTI has dropped by 22.48% in 24 hours, and NTRN has also seen a significant decline of 15.68%.In addition, AUDIO, FIO, NMR, XVG, OSMO, USUAL, and D have all experienced a rise and fall, with declines of 6.98%, 9.99%, 6.79%, 6.03%, 7.55%, 5.1%, and 7.62%, respectively.

According to Jinshi reports, Federal Reserve's Collins stated on Friday that the retreat of global economic integration may complicate the Fed's work and increase price pressures. She pointed out that the shift towards "economic fragmentation" could bring a transitional period of inflationary pressure and may lead to a lower degree of financial integration, thereby raising domestic borrowing costs and affecting financial conditions. Collins also mentioned that this environment could exacerbate business cycles and inflation volatility, complicating the Fed's efforts to maintain price stability and maximum employment.

In the context of an intensified crypto bear market and a cooling risk appetite, Bitcoin has completely erased all gains since the end of last year. In the early hours of Monday, BTC fell below $93,600, reaching below the opening price at the beginning of the year. Bitwise CIO Matthew Hougan pointed out that major buyers—including ETF allocators and institutional debt allocators—have been continuously withdrawing over the past month, leading to the emergence of the capital outflow effect that originally supported BTC's all-time highs. In just 41 days, the total market capitalization of the crypto market has evaporated by $1.1 trillion. Although the current liquidation scale is about 10% lower than the peak on October 10, the risk sentiment remains fragile.At the same time, the correlation between Bitcoin and U.S. tech stocks has rapidly increased. Data from the Kobeissi Letter shows that the 30-day correlation between BTC and the Nasdaq 100 has risen to 0.80, a new high since 2022, with a five-year correlation also reaching 0.54. Bitcoin is behaving more like a "high-beta tech stock" rather than an independent macro hedge asset.While sentiment is under pressure, external structural changes are also worth noting. The global ETF issuance reached 137 new funds in October, with 15 new cryptocurrency ETFs, more than double that of September. The total number of global ETFs issued this year has reached 918, and it is expected to exceed 1,100 for the entire year, setting a new historical record.In terms of market views, BitMine Chairman Tom Lee emphasized that although BTC has experienced multiple rounds of deep declines, it is still in a super cycle level over the past decade, and he believes Ethereum is entering a similar path. Arete Capital partner McKenna pointed out that BTC may have a short-term downside risk of up to 31%, with key support levels at $96,200, $93,300, and the $86,000-$91,000 range. He expects that it may be difficult to reach new highs within 2025, but with institutional accumulation and ETF capital driving it, BTC is expected to break through $200,000 before the end of Trump's term.4E reminds investors: The market is currently under "triple pressure" from macro risk aversion, capital withdrawal, and increased correlation with tech stocks. The mid-to-long-term logic for BTC remains unchanged, but short-term volatility may continue to amplify, necessitating attention to capital flows, changes in correlation, and the stability of key support areas.

According to Jinshi reports, Bitcoin fell back after reaching a one-week high overnight, hitting $107,454, and is now down 0.5% to $105,011. The market is optimistic that the record government shutdown in the United States may soon come to an end, but as new concerns about trade tensions emerge, risk sentiment in Asian markets has faced setbacks.

Market data shows that the MMT contract price has experienced significant volatility in the short term: it first surged to $6.47 and then quickly fell back, with the current quote at $2.45. As a result, the scale of MMT-related short liquidations in the past 24 hours has exceeded $100 million.

According to Jinshi, the dollar softened slightly on Tuesday as investors weighed the remarks made by several Federal Reserve officials on Monday, which highlighted the divisions over whether to continue cutting interest rates. Fed's Goolsbee stated that he is not in a hurry to cut rates again as inflation remains above the 2% target; while another official, Mester, believes that the current policy is "still too tight." San Francisco Fed President Daly expressed an "open attitude" towards whether to cut rates again in December. Governor Cook did not commit to further rate cuts.