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Binance trading data reveals why Bitcoin prices are sliding even as spot buyers flood the market wit
Leveraged liquidations and synthetic exposure are overhauling the scarcity narrative and forcing a brutal reality check for holders.Bitcoin’s hard cap is easy to understand: there will only ever be 21 million coins.
What's hard to understand is that the marginal market is allowed to trade far more than 21 million coins worth of exposure, because most of that exposure is synthetic and cash-settled, and it can be created or reduced in seconds.
That distinction has become Bitcoin's core paradox in the past year or so.
Scarcity is a property of the asset, while price is a property of the market microstructure that dominates the next aggressive order. When derivatives volume and leveraged positioning become the dominant arena, Bitcoin can trade like an asset with a tight supply and, at the same time, like an asset with effectively elastic exposure.
21 million coins, but a much larger marginal market
Spot is the only venue where a trade necessarily moves actual BTC from one owner to another.
Perpetual and dated futures don't mint coins, but they do create a second market that can become larger, faster, and more reflexive than spot. Perps are designed to track spot through a funding mechanism and can be traded with leverage, which means a relatively small amount of collateral can control a much larger notional position. That combination tends to pull activity into derivatives when traders want speed, leverage, shorting ability, and capital efficiency.
Price discovery is simply where the next meaningful market order lands. If most urgency lives in perps, then the path of least resistance is set there, even if long-term holders never touch leverage and even if the underlying supply is fixed. In that regime, moves are frequently driven by changes in positioning: liquidations, forced de-risking, hedging flows, and the rapid repricing of leverage. Those flows can overwhelm the much slower process of spot accumulation, because the marginal actor isn't choosing whether to buy coins but whether to add or reduce exposure.
This is also why visible order book support is a weaker concept than it looks on a chart. Displayed bids can be real, but they're conditional. They can be pulled, layered, refreshed, or simply outpaced by the volume coming from the larger derivatives complex. Order books are records of resting intent, not execution guarantees.
What the data shows
The Binance BTC/USDT perpetual futures versus spot volume ratio is the cleanest starting point because it quantifies where activity is concentrated.
On Feb. 3, the perpetual-to-spot volume ratio read 7.87, with $23.51 billion in perpetual volume against $2.99 billion in spot while BTC traded around $75,770. On Feb. 5, the ratio was still 6.12, with $15.97 billion in perps volume against $2.61 billion in spot, and the price near $69,700.
The ratios matter because they're not a minor skew; they describe a market where the dominant source of turnover is a leveraged, shortable venue. In that setup, the next tick is more likely to be set by the repricing of exposure than by incremental spot buying.
The aggregated order book liquidity delta adds a second layer: not just where volume traded, but where liquidity accumulated near price. CoinGlass defines depth delta as the imbalance between bids and asks within a specified range, here ±1% around the current price, which is a way to summarize whether the visible book is bid-heavy or offer-heavy.
The biggest footprint appears on the derivatives side right as the market was entering the drawdown window. Futures liquidity delta printed +$297.75 million on Jan. 31 at 14:00 with BTC around $82,767. Spot later showed +$95.32 million at 18:00 around $78,893. Even by Feb. 5 at 14:00, spot delta still showed +$36.66 million with $BTC near $69,486.
This data shows a market where spot bids existed and, in some moments, grew, but price still kept sliding. Once you accept the hierarchy where derivatives are the dominant class, this stops being a contradiction. Displayed liquidity near spot can improve while the larger derivatives venue continues to force repricing through leverage reduction, short pressure, or hedging. When perps dominate turnover, the marginal seller isn't a real person that's lost conviction, it's just a manager managing positions.
$ETH #bitcoin @Bitcoincom
What's hard to understand is that the marginal market is allowed to trade far more than 21 million coins worth of exposure, because most of that exposure is synthetic and cash-settled, and it can be created or reduced in seconds.
That distinction has become Bitcoin's core paradox in the past year or so.
Scarcity is a property of the asset, while price is a property of the market microstructure that dominates the next aggressive order. When derivatives volume and leveraged positioning become the dominant arena, Bitcoin can trade like an asset with a tight supply and, at the same time, like an asset with effectively elastic exposure.
21 million coins, but a much larger marginal market
Spot is the only venue where a trade necessarily moves actual BTC from one owner to another.
Perpetual and dated futures don't mint coins, but they do create a second market that can become larger, faster, and more reflexive than spot. Perps are designed to track spot through a funding mechanism and can be traded with leverage, which means a relatively small amount of collateral can control a much larger notional position. That combination tends to pull activity into derivatives when traders want speed, leverage, shorting ability, and capital efficiency.
Price discovery is simply where the next meaningful market order lands. If most urgency lives in perps, then the path of least resistance is set there, even if long-term holders never touch leverage and even if the underlying supply is fixed. In that regime, moves are frequently driven by changes in positioning: liquidations, forced de-risking, hedging flows, and the rapid repricing of leverage. Those flows can overwhelm the much slower process of spot accumulation, because the marginal actor isn't choosing whether to buy coins but whether to add or reduce exposure.
This is also why visible order book support is a weaker concept than it looks on a chart. Displayed bids can be real, but they're conditional. They can be pulled, layered, refreshed, or simply outpaced by the volume coming from the larger derivatives complex. Order books are records of resting intent, not execution guarantees.
What the data shows
The Binance BTC/USDT perpetual futures versus spot volume ratio is the cleanest starting point because it quantifies where activity is concentrated.
On Feb. 3, the perpetual-to-spot volume ratio read 7.87, with $23.51 billion in perpetual volume against $2.99 billion in spot while BTC traded around $75,770. On Feb. 5, the ratio was still 6.12, with $15.97 billion in perps volume against $2.61 billion in spot, and the price near $69,700.
The ratios matter because they're not a minor skew; they describe a market where the dominant source of turnover is a leveraged, shortable venue. In that setup, the next tick is more likely to be set by the repricing of exposure than by incremental spot buying.
The aggregated order book liquidity delta adds a second layer: not just where volume traded, but where liquidity accumulated near price. CoinGlass defines depth delta as the imbalance between bids and asks within a specified range, here ±1% around the current price, which is a way to summarize whether the visible book is bid-heavy or offer-heavy.
The biggest footprint appears on the derivatives side right as the market was entering the drawdown window. Futures liquidity delta printed +$297.75 million on Jan. 31 at 14:00 with BTC around $82,767. Spot later showed +$95.32 million at 18:00 around $78,893. Even by Feb. 5 at 14:00, spot delta still showed +$36.66 million with $BTC near $69,486.
This data shows a market where spot bids existed and, in some moments, grew, but price still kept sliding. Once you accept the hierarchy where derivatives are the dominant class, this stops being a contradiction. Displayed liquidity near spot can improve while the larger derivatives venue continues to force repricing through leverage reduction, short pressure, or hedging. When perps dominate turnover, the marginal seller isn't a real person that's lost conviction, it's just a manager managing positions.
$ETH #bitcoin @Bitcoincom
Bitcoin 💴💴💴💴💴💴💴
Why $71,500 keeps showing Up Bitcoin keeps knocking on $71,500, sooner or later the door opens
Bitcoin keeps knocking on $71,500, sooner or later the door opens $BTC
Bitcoin made a familiar but stressful move this week; it bounced hard enough to make the skeptics quiet and the dip buyers loud again.
After the crash down to around $60,000, the price clawed its way back to the a spot that has become the center of gravity, the $71,500 zone.
It has already been there three times.
Each time, the market hesitated, traders leaned in, and the rally ran out of oxygen. Now Bitcoin is back around $70,900, it looks like it wants to test $71,500 again, and this is the moment worth paying attention to, even if you don’t trade, even if you only check the price once a week.
Because some levels are more like shared memories than simple numbers on a screen.
$71,500 is one of those.
Why $71,500 keeps showing up
When a level gets tested again and again, it becomes a kind of public square.
Everyone sees it on their chart. But not everyone discusses it in group chats or has a plan for it.
That matters because Bitcoin is a market that runs on emotion as much as math.
When price approaches a level like $71,500 after a violent drop, you get a mix of people who want out, people who want in, and people who want confirmation. That creates friction, and friction creates the stalling you can see on the chart.
For traders, this is where decisions get made quickly, stops get placed tightly, and leverage gets bold.
For long-term holders, this is where the story gets rewritten. A market that couldn’t get above $71,500 starts to feel weak, a market that reclaims it starts to feel repaired.
That difference in feeling is why the zone matters.
The lines on my chart are not decoration
They are areas where Bitcoin has repeatedly found support or slammed into resistance. They are built from a blend of historical leverage behavior, order-book dynamics, psychological price levels, and the familiar entry and exit points many traders use when trading with size.
I’m not pretending this is a magic formula, it’s a map. It gives me a way to stop guessing and start planning.
And right now, that map says $71,500 is the next major checkpoint.
If you’ve been following my work this cycle, you’ll recognize the theme. I’ve spent months writing about how cycle highs form, how risk leaks out of the system, and how bear markets often feel obvious in hindsight but rarely feel obvious in the moment
Back in the fall, I argued that the market was showing signs the cycle had already topped, even while the mood was still euphoric. That case is laid out in ‘Time is up: The case for why Bitcoin bear market cycle started at $126k
I also talked about the time window that tends to surround a cycle peak, and whether ETFs could bend that history, in ‘Bitcoin’s cycle clock points to a final high by late October, will ETFs rewrite history
@Vanarchain $VANRY
#VanarChain
Bitcoin made a familiar but stressful move this week; it bounced hard enough to make the skeptics quiet and the dip buyers loud again.
After the crash down to around $60,000, the price clawed its way back to the a spot that has become the center of gravity, the $71,500 zone.
It has already been there three times.
Each time, the market hesitated, traders leaned in, and the rally ran out of oxygen. Now Bitcoin is back around $70,900, it looks like it wants to test $71,500 again, and this is the moment worth paying attention to, even if you don’t trade, even if you only check the price once a week.
Because some levels are more like shared memories than simple numbers on a screen.
$71,500 is one of those.
Why $71,500 keeps showing up
When a level gets tested again and again, it becomes a kind of public square.
Everyone sees it on their chart. But not everyone discusses it in group chats or has a plan for it.
That matters because Bitcoin is a market that runs on emotion as much as math.
When price approaches a level like $71,500 after a violent drop, you get a mix of people who want out, people who want in, and people who want confirmation. That creates friction, and friction creates the stalling you can see on the chart.
For traders, this is where decisions get made quickly, stops get placed tightly, and leverage gets bold.
For long-term holders, this is where the story gets rewritten. A market that couldn’t get above $71,500 starts to feel weak, a market that reclaims it starts to feel repaired.
That difference in feeling is why the zone matters.
The lines on my chart are not decoration
They are areas where Bitcoin has repeatedly found support or slammed into resistance. They are built from a blend of historical leverage behavior, order-book dynamics, psychological price levels, and the familiar entry and exit points many traders use when trading with size.
I’m not pretending this is a magic formula, it’s a map. It gives me a way to stop guessing and start planning.
And right now, that map says $71,500 is the next major checkpoint.
If you’ve been following my work this cycle, you’ll recognize the theme. I’ve spent months writing about how cycle highs form, how risk leaks out of the system, and how bear markets often feel obvious in hindsight but rarely feel obvious in the moment
Back in the fall, I argued that the market was showing signs the cycle had already topped, even while the mood was still euphoric. That case is laid out in ‘Time is up: The case for why Bitcoin bear market cycle started at $126k
I also talked about the time window that tends to surround a cycle peak, and whether ETFs could bend that history, in ‘Bitcoin’s cycle clock points to a final high by late October, will ETFs rewrite history
@Vanarchain $VANRY
#VanarChain
Bitcoin trades every minute of every day, but CME Bitcoin futures stop for the weekend. That mismatch is how a CME gap is born, and why it keeps turning up in the middle of the most stressful weeks.
A CME gap is the blank space on a CME futures chart between Friday’s final traded level and the first traded level when the market reopens Sunday evening (US time). CME futures trade on a weekly schedule with a weekend break, while spot Bitcoin keeps moving. When the first CME print lands far from Friday’s close, the chart draws a jump and leaves an empty zone in between. That zone is the gap.
CryptoSlate’s report on this topic made the key point that the gap is not a mystical force, but a record of time when one market was closed, and the other was still trading. This is not about prophecy. It’s about a calendar mismatch that becomes visible on charts. $BNB $BTC #EthereumLayer2Rethink? #WhaleDeRiskETH #ADPDataDisappoints
A CME gap is the blank space on a CME futures chart between Friday’s final traded level and the first traded level when the market reopens Sunday evening (US time). CME futures trade on a weekly schedule with a weekend break, while spot Bitcoin keeps moving. When the first CME print lands far from Friday’s close, the chart draws a jump and leaves an empty zone in between. That zone is the gap.
CryptoSlate’s report on this topic made the key point that the gap is not a mystical force, but a record of time when one market was closed, and the other was still trading. This is not about prophecy. It’s about a calendar mismatch that becomes visible on charts. $BNB $BTC #EthereumLayer2Rethink? #WhaleDeRiskETH #ADPDataDisappoints
Why $71,500 keeps showing Up Bitcoin keeps knocking on $71,500, sooner or later the door opens
Bitcoin keeps knocking on $71,500, sooner or later the door opens $BTC
Bitcoin made a familiar but stressful move this week; it bounced hard enough to make the skeptics quiet and the dip buyers loud again.
After the crash down to around $60,000, the price clawed its way back to the a spot that has become the center of gravity, the $71,500 zone.
It has already been there three times.
Each time, the market hesitated, traders leaned in, and the rally ran out of oxygen. Now Bitcoin is back around $70,900, it looks like it wants to test $71,500 again, and this is the moment worth paying attention to, even if you don’t trade, even if you only check the price once a week.
Because some levels are more like shared memories than simple numbers on a screen.
$71,500 is one of those.
Why $71,500 keeps showing up
When a level gets tested again and again, it becomes a kind of public square.
Everyone sees it on their chart. But not everyone discusses it in group chats or has a plan for it.
That matters because Bitcoin is a market that runs on emotion as much as math.
When price approaches a level like $71,500 after a violent drop, you get a mix of people who want out, people who want in, and people who want confirmation. That creates friction, and friction creates the stalling you can see on the chart.
For traders, this is where decisions get made quickly, stops get placed tightly, and leverage gets bold.
For long-term holders, this is where the story gets rewritten. A market that couldn’t get above $71,500 starts to feel weak, a market that reclaims it starts to feel repaired.
That difference in feeling is why the zone matters.
The lines on my chart are not decoration
They are areas where Bitcoin has repeatedly found support or slammed into resistance. They are built from a blend of historical leverage behavior, order-book dynamics, psychological price levels, and the familiar entry and exit points many traders use when trading with size.
I’m not pretending this is a magic formula, it’s a map. It gives me a way to stop guessing and start planning.
And right now, that map says $71,500 is the next major checkpoint.
If you’ve been following my work this cycle, you’ll recognize the theme. I’ve spent months writing about how cycle highs form, how risk leaks out of the system, and how bear markets often feel obvious in hindsight but rarely feel obvious in the moment
Back in the fall, I argued that the market was showing signs the cycle had already topped, even while the mood was still euphoric. That case is laid out in ‘Time is up: The case for why Bitcoin bear market cycle started at $126k
I also talked about the time window that tends to surround a cycle peak, and whether ETFs could bend that history, in ‘Bitcoin’s cycle clock points to a final high by late October, will ETFs rewrite history
@Vanarchain $VANRY
#VanarChain
Bitcoin made a familiar but stressful move this week; it bounced hard enough to make the skeptics quiet and the dip buyers loud again.
After the crash down to around $60,000, the price clawed its way back to the a spot that has become the center of gravity, the $71,500 zone.
It has already been there three times.
Each time, the market hesitated, traders leaned in, and the rally ran out of oxygen. Now Bitcoin is back around $70,900, it looks like it wants to test $71,500 again, and this is the moment worth paying attention to, even if you don’t trade, even if you only check the price once a week.
Because some levels are more like shared memories than simple numbers on a screen.
$71,500 is one of those.
Why $71,500 keeps showing up
When a level gets tested again and again, it becomes a kind of public square.
Everyone sees it on their chart. But not everyone discusses it in group chats or has a plan for it.
That matters because Bitcoin is a market that runs on emotion as much as math.
When price approaches a level like $71,500 after a violent drop, you get a mix of people who want out, people who want in, and people who want confirmation. That creates friction, and friction creates the stalling you can see on the chart.
For traders, this is where decisions get made quickly, stops get placed tightly, and leverage gets bold.
For long-term holders, this is where the story gets rewritten. A market that couldn’t get above $71,500 starts to feel weak, a market that reclaims it starts to feel repaired.
That difference in feeling is why the zone matters.
The lines on my chart are not decoration
They are areas where Bitcoin has repeatedly found support or slammed into resistance. They are built from a blend of historical leverage behavior, order-book dynamics, psychological price levels, and the familiar entry and exit points many traders use when trading with size.
I’m not pretending this is a magic formula, it’s a map. It gives me a way to stop guessing and start planning.
And right now, that map says $71,500 is the next major checkpoint.
If you’ve been following my work this cycle, you’ll recognize the theme. I’ve spent months writing about how cycle highs form, how risk leaks out of the system, and how bear markets often feel obvious in hindsight but rarely feel obvious in the moment
Back in the fall, I argued that the market was showing signs the cycle had already topped, even while the mood was still euphoric. That case is laid out in ‘Time is up: The case for why Bitcoin bear market cycle started at $126k
I also talked about the time window that tends to surround a cycle peak, and whether ETFs could bend that history, in ‘Bitcoin’s cycle clock points to a final high by late October, will ETFs rewrite history
@Vanarchain $VANRY
#VanarChain
Either Bitcoin reclaims this crucial zone immediately or the mid-range drift back toward $61,000 begins
BTC has failed this critical test three times already and the fourth attempt signals a massive breakout or a brutal rejection.
Bitcoin keeps knocking on $71,500, sooner or later the door opens
Bitcoin made a familiar but stressful move this week; it bounced hard enough to make the skeptics quiet and the dip buyers loud again.
After the crash down to around $60,000, the price clawed its way back to the a spot that has become the center of gravity, the $71,500 zone.
It has already been there three times.
Each time, the market hesitated, traders leaned in, and the rally ran out of oxygen. Now Bitcoin is back around $70,900, it looks like it wants to test $71,500 again, and this is the moment worth paying attention to, even if you don’t trade, even if you only check the price once a week.
@Vanarchain #VanarChain $VANRY
BTC has failed this critical test three times already and the fourth attempt signals a massive breakout or a brutal rejection.
Bitcoin keeps knocking on $71,500, sooner or later the door opens
Bitcoin made a familiar but stressful move this week; it bounced hard enough to make the skeptics quiet and the dip buyers loud again.
After the crash down to around $60,000, the price clawed its way back to the a spot that has become the center of gravity, the $71,500 zone.
It has already been there three times.
Each time, the market hesitated, traders leaned in, and the rally ran out of oxygen. Now Bitcoin is back around $70,900, it looks like it wants to test $71,500 again, and this is the moment worth paying attention to, even if you don’t trade, even if you only check the price once a week.
@Vanarchain #VanarChain $VANRY
Binance trading data reveals why Bitcoin prices are sliding even as spot buyers flood the market wit
Leveraged liquidations and synthetic exposure are overhauling the scarcity narrative and forcing a brutal reality check for holders.Bitcoin’s hard cap is easy to understand: there will only ever be 21 million coins.
What's hard to understand is that the marginal market is allowed to trade far more than 21 million coins worth of exposure, because most of that exposure is synthetic and cash-settled, and it can be created or reduced in seconds.
That distinction has become Bitcoin's core paradox in the past year or so.
Scarcity is a property of the asset, while price is a property of the market microstructure that dominates the next aggressive order. When derivatives volume and leveraged positioning become the dominant arena, Bitcoin can trade like an asset with a tight supply and, at the same time, like an asset with effectively elastic exposure.
21 million coins, but a much larger marginal market
Spot is the only venue where a trade necessarily moves actual BTC from one owner to another.
Perpetual and dated futures don't mint coins, but they do create a second market that can become larger, faster, and more reflexive than spot. Perps are designed to track spot through a funding mechanism and can be traded with leverage, which means a relatively small amount of collateral can control a much larger notional position. That combination tends to pull activity into derivatives when traders want speed, leverage, shorting ability, and capital efficiency.
Price discovery is simply where the next meaningful market order lands. If most urgency lives in perps, then the path of least resistance is set there, even if long-term holders never touch leverage and even if the underlying supply is fixed. In that regime, moves are frequently driven by changes in positioning: liquidations, forced de-risking, hedging flows, and the rapid repricing of leverage. Those flows can overwhelm the much slower process of spot accumulation, because the marginal actor isn't choosing whether to buy coins but whether to add or reduce exposure.
This is also why visible order book support is a weaker concept than it looks on a chart. Displayed bids can be real, but they're conditional. They can be pulled, layered, refreshed, or simply outpaced by the volume coming from the larger derivatives complex. Order books are records of resting intent, not execution guarantees.
What the data shows
The Binance BTC/USDT perpetual futures versus spot volume ratio is the cleanest starting point because it quantifies where activity is concentrated.
On Feb. 3, the perpetual-to-spot volume ratio read 7.87, with $23.51 billion in perpetual volume against $2.99 billion in spot while BTC traded around $75,770. On Feb. 5, the ratio was still 6.12, with $15.97 billion in perps volume against $2.61 billion in spot, and the price near $69,700.
The ratios matter because they're not a minor skew; they describe a market where the dominant source of turnover is a leveraged, shortable venue. In that setup, the next tick is more likely to be set by the repricing of exposure than by incremental spot buying.
The aggregated order book liquidity delta adds a second layer: not just where volume traded, but where liquidity accumulated near price. CoinGlass defines depth delta as the imbalance between bids and asks within a specified range, here ±1% around the current price, which is a way to summarize whether the visible book is bid-heavy or offer-heavy.
The biggest footprint appears on the derivatives side right as the market was entering the drawdown window. Futures liquidity delta printed +$297.75 million on Jan. 31 at 14:00 with BTC around $82,767. Spot later showed +$95.32 million at 18:00 around $78,893. Even by Feb. 5 at 14:00, spot delta still showed +$36.66 million with $BTC near $69,486.
This data shows a market where spot bids existed and, in some moments, grew, but price still kept sliding. Once you accept the hierarchy where derivatives are the dominant class, this stops being a contradiction. Displayed liquidity near spot can improve while the larger derivatives venue continues to force repricing through leverage reduction, short pressure, or hedging. When perps dominate turnover, the marginal seller isn't a real person that's lost conviction, it's just a manager managing positions.
$ETH #bitcoin @Bitcoincom
What's hard to understand is that the marginal market is allowed to trade far more than 21 million coins worth of exposure, because most of that exposure is synthetic and cash-settled, and it can be created or reduced in seconds.
That distinction has become Bitcoin's core paradox in the past year or so.
Scarcity is a property of the asset, while price is a property of the market microstructure that dominates the next aggressive order. When derivatives volume and leveraged positioning become the dominant arena, Bitcoin can trade like an asset with a tight supply and, at the same time, like an asset with effectively elastic exposure.
21 million coins, but a much larger marginal market
Spot is the only venue where a trade necessarily moves actual BTC from one owner to another.
Perpetual and dated futures don't mint coins, but they do create a second market that can become larger, faster, and more reflexive than spot. Perps are designed to track spot through a funding mechanism and can be traded with leverage, which means a relatively small amount of collateral can control a much larger notional position. That combination tends to pull activity into derivatives when traders want speed, leverage, shorting ability, and capital efficiency.
Price discovery is simply where the next meaningful market order lands. If most urgency lives in perps, then the path of least resistance is set there, even if long-term holders never touch leverage and even if the underlying supply is fixed. In that regime, moves are frequently driven by changes in positioning: liquidations, forced de-risking, hedging flows, and the rapid repricing of leverage. Those flows can overwhelm the much slower process of spot accumulation, because the marginal actor isn't choosing whether to buy coins but whether to add or reduce exposure.
This is also why visible order book support is a weaker concept than it looks on a chart. Displayed bids can be real, but they're conditional. They can be pulled, layered, refreshed, or simply outpaced by the volume coming from the larger derivatives complex. Order books are records of resting intent, not execution guarantees.
What the data shows
The Binance BTC/USDT perpetual futures versus spot volume ratio is the cleanest starting point because it quantifies where activity is concentrated.
On Feb. 3, the perpetual-to-spot volume ratio read 7.87, with $23.51 billion in perpetual volume against $2.99 billion in spot while BTC traded around $75,770. On Feb. 5, the ratio was still 6.12, with $15.97 billion in perps volume against $2.61 billion in spot, and the price near $69,700.
The ratios matter because they're not a minor skew; they describe a market where the dominant source of turnover is a leveraged, shortable venue. In that setup, the next tick is more likely to be set by the repricing of exposure than by incremental spot buying.
The aggregated order book liquidity delta adds a second layer: not just where volume traded, but where liquidity accumulated near price. CoinGlass defines depth delta as the imbalance between bids and asks within a specified range, here ±1% around the current price, which is a way to summarize whether the visible book is bid-heavy or offer-heavy.
The biggest footprint appears on the derivatives side right as the market was entering the drawdown window. Futures liquidity delta printed +$297.75 million on Jan. 31 at 14:00 with BTC around $82,767. Spot later showed +$95.32 million at 18:00 around $78,893. Even by Feb. 5 at 14:00, spot delta still showed +$36.66 million with $BTC near $69,486.
This data shows a market where spot bids existed and, in some moments, grew, but price still kept sliding. Once you accept the hierarchy where derivatives are the dominant class, this stops being a contradiction. Displayed liquidity near spot can improve while the larger derivatives venue continues to force repricing through leverage reduction, short pressure, or hedging. When perps dominate turnover, the marginal seller isn't a real person that's lost conviction, it's just a manager managing positions.
$ETH #bitcoin @Bitcoincom
hedging hint $70,000 could be a pause before the next volatility wave
Bitcoin ripped from $60,000 to above $70,000 in less than 24 hours, erasing most of a brutal 14% drawdown that had tested every bottom-calling thesis in the market.
The speed of the reversal, 12% in a single session and 17% off the intraday low, was violent enough to feel like a capitulation resolved. Yet, the mechanics beneath the bounce tell a different story: this was cross-asset stabilization meeting forced-position rebalancing, not a flood of conviction-driven spot demand.
And the derivatives market, still crowded into downside protection, is pricing the possibility that $70,000 becomes a pause rather than a floor.
Forced unwinds met macro stress
Feb. 5 opened near $73,100, traded briefly higher, then collapsed to $62,600 by close, a one-day decline that liquidated approximately $1 billion in leveraged Bitcoin positions, according to CoinGlass data.
That figure alone captures the forced-selling cascade, but the broader picture was worse.
Open interest in BTC futures fell from roughly $61 billion to $49 billion over the prior week, according to CoinGlass, meaning the market had already been shedding leverage when the final flush hit.
The trigger wasn't crypto-specific. Reports framed the selloff as a weakening of risk sentiment, driven by tech-stock selling and a volatility shock in precious metals, with silver declining by as much as 18% to around $72.21, dragging down correlated risk assets.
Deribit research confirmed the spillover, noting that derivatives sentiment turned extremely bearish, with funding rates negative, inverted implied volatility term structures, and a 25-delta risk-reversal skew crushed to approximately -13%.
#WhenWillBTCRebound #ADPDataDisappoints $BTC #bitcoin #BitcoinETFs $ETH $XRP
Bitcoin ripped from $60,000 to above $70,000 in less than 24 hours, erasing most of a brutal 14% drawdown that had tested every bottom-calling thesis in the market.
The speed of the reversal, 12% in a single session and 17% off the intraday low, was violent enough to feel like a capitulation resolved. Yet, the mechanics beneath the bounce tell a different story: this was cross-asset stabilization meeting forced-position rebalancing, not a flood of conviction-driven spot demand.
And the derivatives market, still crowded into downside protection, is pricing the possibility that $70,000 becomes a pause rather than a floor.
Forced unwinds met macro stress
Feb. 5 opened near $73,100, traded briefly higher, then collapsed to $62,600 by close, a one-day decline that liquidated approximately $1 billion in leveraged Bitcoin positions, according to CoinGlass data.
That figure alone captures the forced-selling cascade, but the broader picture was worse.
Open interest in BTC futures fell from roughly $61 billion to $49 billion over the prior week, according to CoinGlass, meaning the market had already been shedding leverage when the final flush hit.
The trigger wasn't crypto-specific. Reports framed the selloff as a weakening of risk sentiment, driven by tech-stock selling and a volatility shock in precious metals, with silver declining by as much as 18% to around $72.21, dragging down correlated risk assets.
Deribit research confirmed the spillover, noting that derivatives sentiment turned extremely bearish, with funding rates negative, inverted implied volatility term structures, and a 25-delta risk-reversal skew crushed to approximately -13%.
#WhenWillBTCRebound #ADPDataDisappoints $BTC #bitcoin #BitcoinETFs $ETH $XRP
#bitcoin triggers $7B loss for ETF holders as price could drop to $65,000 while Strategy (MSTR) sits on billion dollar cushion $ETH $BNB
ETF outflows could pressure Bitcoin price toward $65,000 without renewed demand sources redistributing supply.👇
Bitcoin’s slide below $80,000 has pushed a significant portion of US spot BTC exchange-traded fund (ETF) buyers into $7 billion in paper losses.👇
According to CryptoSlate's data, the world’s largest digital asset fell to as low as $74,609 over the weekend amid liquidity concerns and a risk-off tone in global markets. BTC has recovered to approximately $77,649 as of press time.👇
Alex Thorn, Galaxy Digital’s head of research, noted that this price performance indicates that Bitcoin is trading below the average cost basis of US ETFs. Notably, spot Bitcoin ETF investors are holding average paper losses of approximately 15%, implying an average entry price of approximately $90,200 per #bitcoin $BTC @Bitcoin.com
ETF outflows could pressure Bitcoin price toward $65,000 without renewed demand sources redistributing supply.👇
Bitcoin’s slide below $80,000 has pushed a significant portion of US spot BTC exchange-traded fund (ETF) buyers into $7 billion in paper losses.👇
According to CryptoSlate's data, the world’s largest digital asset fell to as low as $74,609 over the weekend amid liquidity concerns and a risk-off tone in global markets. BTC has recovered to approximately $77,649 as of press time.👇
Alex Thorn, Galaxy Digital’s head of research, noted that this price performance indicates that Bitcoin is trading below the average cost basis of US ETFs. Notably, spot Bitcoin ETF investors are holding average paper losses of approximately 15%, implying an average entry price of approximately $90,200 per #bitcoin $BTC @Bitcoin.com
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Building the Future of Privacy-First Finance: How @dusk_foundation Is Redefining Blockchain
In an era where digital finance and regulatory requirements collide, @dusk_foundation is pioneering a new model of blockchain that harmonizes privacy, compliance, and performance. Dusk is a Layer 1 blockchain designed from the ground up to empower confidential transactions and regulated financial workflows without sacrificing efficiency. It uses advanced cryptographic primitives — especially zero-knowledge proofs (ZKPs) — to ensure that transaction details and user balances can remain confidential yet verifiable when needed, bridging the gap between privacy and oversight
Unlike traditional public ledgers where every balance and transfer is exposed, Dusk’s architecture includes both transparent and shielded transaction models, giving builders and users flexibility. This makes the network ideal for institutional applications, such as tokenizing real-world assets, securities issuance, and compliant DeFi solutions — all while maintaining data protection and regulatory readiness
The native token $DUSK plays a crucial role in this ecosystem: it’s used for gas fees, staking, and governance — enabling participants to contribute to network security and decision-making. With fast finality through a novel Proof-of-Stake consensus and modular components like DuskDS and DuskEVM supporting settlement and smart contracts, #Dusk is shaping up as a powerful foundation for tomorrow’s financial markets
Unlike traditional public ledgers where every balance and transfer is exposed, Dusk’s architecture includes both transparent and shielded transaction models, giving builders and users flexibility. This makes the network ideal for institutional applications, such as tokenizing real-world assets, securities issuance, and compliant DeFi solutions — all while maintaining data protection and regulatory readiness
The native token $DUSK plays a crucial role in this ecosystem: it’s used for gas fees, staking, and governance — enabling participants to contribute to network security and decision-making. With fast finality through a novel Proof-of-Stake consensus and modular components like DuskDS and DuskEVM supporting settlement and smart contracts, #Dusk is shaping up as a powerful foundation for tomorrow’s financial markets
#dusk $DUSK @dusk_foundation is building a privacy-centric Layer 1 blockchain where regulated finance meets on-chain confidentiality. With zero-knowledge cryptography and selective disclosure, Dusk enables confidential transactions, compliant real-world asset tokenization, and institutional-ready DeFi — fueling innovation with the native token $DUSK . Join a future where privacy and compliance coexist on #Dusk
#plasma $XPL Plasma is redefining scalability and speed in the blockchain space with innovative Layer-2 solutions. Explore how @plasma integrates secure rollups to enhance throughput, reduce fees, and empower developers to build faster, more efficient dApps. Dive into the future of high-performance chains with $XPL at the center of the ecosystem. #plasma
Exploring the Future of AI-Native Blockchain with @vanar and $VANRY on #Vanar Chain
The emergence of Vanar Chain marks a compelling step forward in blockchain evolution, blending AI-native infrastructure with high-performance, real-world utility. As an innovative Layer-1 blockchain, Vanar Chain is engineered not just for faster transactions and low fees but also for on-chain intelligence, enabling smart contracts and decentralized applications to interact with compressed and reasoned data directly on the chain — a significant move beyond traditional data storage and oracle dependency.
At the heart of this ecosystem lies the native token $VANRY — a versatile digital asset that fuels all core operations on Vanar Chain. Whether used to pay gas fees, stake and secure the network through decentralized validation, or participate in future governance and upgrades, $VANRY plays a central role in shaping how the chain evolves. This token also powers activity across Vanar’s suite of products, from gaming and entertainment to PayFi and real-world asset tokenization, making it vital for developers and users alike
One of the most exciting aspects of Vanar Chain’s design is its hybrid consensus and EVM compatibility, enabling seamless deployment of Ethereum-style dApps with predictable costs and ultra-low fees. Coupled with fast block times and eco-friendly operations, #Vanar Chain is positioning itself as an accessible blockchain for both seasoned builders and newcomers
Moreover, the ecosystem continues to grow with strategic listings and integrations — broadening global accessibility for $VANRY holders and increasing liquidity around real use cases. With its strong focus on community, innovation, and real-world adoption, Vanar Chain invites everyone from developers to everyday users to be part of a more intelligent, inclusive blockchain future
Exploring the Future of AI-Native Blockchain with @Vanarchain and $VANRY on #Vanar Chain
At the heart of this ecosystem lies the native token $VANRY — a versatile digital asset that fuels all core operations on Vanar Chain. Whether used to pay gas fees, stake and secure the network through decentralized validation, or participate in future governance and upgrades, $VANRY plays a central role in shaping how the chain evolves. This token also powers activity across Vanar’s suite of products, from gaming and entertainment to PayFi and real-world asset tokenization, making it vital for developers and users alike
One of the most exciting aspects of Vanar Chain’s design is its hybrid consensus and EVM compatibility, enabling seamless deployment of Ethereum-style dApps with predictable costs and ultra-low fees. Coupled with fast block times and eco-friendly operations, #Vanar Chain is positioning itself as an accessible blockchain for both seasoned builders and newcomers
Moreover, the ecosystem continues to grow with strategic listings and integrations — broadening global accessibility for $VANRY holders and increasing liquidity around real use cases. With its strong focus on community, innovation, and real-world adoption, Vanar Chain invites everyone from developers to everyday users to be part of a more intelligent, inclusive blockchain future
Exploring the Future of AI-Native Blockchain with @Vanarchain and $VANRY on #Vanar Chain
The timing case now intersects with a clear macro shock.
The timing case now intersects with a clear macro shock.
Since the all-time high, the White House announced a new tariff package on Chinese imports, including rates of up to 100 percent on some goods. The headline hit crypto as futures deleveraged roughly $19 billion of liquidations within 24 hours.
Derivatives positioning shifted as well, with heavier demand for downside protection after the wipeout. Funding stresses on the traditional side also flickered, as Reuters reported an unusual jump in usage of the Federal Reserve’s Standing Repo Facility, a sign that short-term dollar funding tightened into the same window.
The flow tape remains the near-term arbiter. U.S. spot Bitcoin exchange-traded funds have operated as the cycle’s marginal buyer. Farside Investors publishes consolidated daily creations and redemptions that allow a quick read on whether cash is entering or leaving the wrapper.
Weekly fund flow context is provided by CoinShares, which tracks broader digital-asset products. A multi-session run of broad net inflows would keep the door open for a late-cycle marginal high.
A choppy to negative run would strengthen the case that Oct. 6 marked the cycle top.
A scenario framework helps translate those inputs into prices and time.
Historic bear runs in Bitcoin ran from about 12 to 18 months and drew down roughly 57 percent in 2018 and 76 percent in 2014 from peak to trough, a pattern charted by NYDIG.
The market structure now includes spot ETFs and deeper derivatives markets, so a lighter band of 35 to 55 percent is a reasonable reference for downside risk management. Applied to $126,272, that produces trough zones of roughly $82,000 to $57,000.
That timeline would place a low sometime in late 2026 into early 2027, broadly in line with the halving cadence referenced above.
The probability that a top is already in rises when timing, macro, and flow all lean the same way. The halving clock is late in the typical range.
The tariff shock created real-economy uncertainty and a visible risk premium in derivatives. Repo facility usage jumped to tighter dollar liquidity.
Bitcoin price has failed to sustain above the early October high and now trades below the first support. The burden of proof sits with demand, and the ETF tape is the cleanest daily measure.
Some argue that the traditional Bitcoin cycle ended when ETFs launched, but new demand has never ended the cyclical pattern in the past. Will it really do it now?
To date, each Bitcoin cycle has delivered diminishing returns. If $126,000 really is the peak for this cycle, that would work out to an 82% gain. #VanarChain $VANRY @Vanar
Since the all-time high, the White House announced a new tariff package on Chinese imports, including rates of up to 100 percent on some goods. The headline hit crypto as futures deleveraged roughly $19 billion of liquidations within 24 hours.
Derivatives positioning shifted as well, with heavier demand for downside protection after the wipeout. Funding stresses on the traditional side also flickered, as Reuters reported an unusual jump in usage of the Federal Reserve’s Standing Repo Facility, a sign that short-term dollar funding tightened into the same window.
The flow tape remains the near-term arbiter. U.S. spot Bitcoin exchange-traded funds have operated as the cycle’s marginal buyer. Farside Investors publishes consolidated daily creations and redemptions that allow a quick read on whether cash is entering or leaving the wrapper.
Weekly fund flow context is provided by CoinShares, which tracks broader digital-asset products. A multi-session run of broad net inflows would keep the door open for a late-cycle marginal high.
A choppy to negative run would strengthen the case that Oct. 6 marked the cycle top.
A scenario framework helps translate those inputs into prices and time.
Historic bear runs in Bitcoin ran from about 12 to 18 months and drew down roughly 57 percent in 2018 and 76 percent in 2014 from peak to trough, a pattern charted by NYDIG.
The market structure now includes spot ETFs and deeper derivatives markets, so a lighter band of 35 to 55 percent is a reasonable reference for downside risk management. Applied to $126,272, that produces trough zones of roughly $82,000 to $57,000.
That timeline would place a low sometime in late 2026 into early 2027, broadly in line with the halving cadence referenced above.
The probability that a top is already in rises when timing, macro, and flow all lean the same way. The halving clock is late in the typical range.
The tariff shock created real-economy uncertainty and a visible risk premium in derivatives. Repo facility usage jumped to tighter dollar liquidity.
Bitcoin price has failed to sustain above the early October high and now trades below the first support. The burden of proof sits with demand, and the ETF tape is the cleanest daily measure.
Some argue that the traditional Bitcoin cycle ended when ETFs launched, but new demand has never ended the cyclical pattern in the past. Will it really do it now?
To date, each Bitcoin cycle has delivered diminishing returns. If $126,000 really is the peak for this cycle, that would work out to an 82% gain. #VanarChain $VANRY @Vanar
#vanar $VANRY Time is up: The case for why Bitcoin bear market cycle started at $126k
Market top signal reached: This time last cycle Bitcoin entered a bear market.No one has a crystal ball, but if Bitcoin continues to behave according to its past cycles, then we've most likely already reached the peak.
Bitcoin printed an all-time high on Oct. 6, but it failed to extend the move as the post-halving clock approaches the peak zone seen in prior cycles.
The 2024 halving landed on April 20, and prior peaks arrived roughly 526 days after the 2016 halving and 546 days after the 2020 halving.
On that cadence, the current cycle’s peak window spans roughly mid-October to late November.
Market top signal reached: This time last cycle Bitcoin entered a bear market.No one has a crystal ball, but if Bitcoin continues to behave according to its past cycles, then we've most likely already reached the peak.
Bitcoin printed an all-time high on Oct. 6, but it failed to extend the move as the post-halving clock approaches the peak zone seen in prior cycles.
The 2024 halving landed on April 20, and prior peaks arrived roughly 526 days after the 2016 halving and 546 days after the 2020 halving.
On that cadence, the current cycle’s peak window spans roughly mid-October to late November.
Is President Trump selling Bitcoin? WLFI pays off Aave debt with WBTC to avoid liquidation but risk
Is President Trump selling Bitcoin? WLFI pays off Aave debt with WBTC to avoid liquidation but risk remains
The address repaid $11.75 million in USDC after pulling 173 WBTC collateral, boosting its Aave health factor to 1.54.
A wallet attributed to President Donald Trump's World Liberty Financial, which is managed by his sons, withdrew approximately 173 wrapped Bitcoin from Aave V3 on Feb. 5 and sold them to repay $11.75 million in stablecoin debt.
This sequence reveals the mechanics of voluntary deleveraging: as Bitcoin's drawdown below $63,000 forces whales to sell collateral and reduce leverage, protocol liquidation engines trigger at worse terms.
The address 0x77a…F94F6, labeled as WLFI on Arkham Intelligence, withdrew roughly 73 WBTC and 100 WBTC from Aave V3's collateral pool, then repaid 5,037,001 USDC and 6,710,808 USDC to the protocol in separate actions.
Although there is no confirmation regarding the wallet's ownership, on-chain intelligence platforms and prior reporting have linked similar activity patterns to World Liberty Financial's documented positions on Aave involving WBTC and ETH collateral.
Nevertheless, the wallet turned Bitcoin exposure into cash to reduce leverage and raise health factor buffers. The wallet still holds substantial exposure, with approximately 13,298 WETH and 167 WBTC as Aave collateral backing $18.47 million in variable-rate USDC debt.
Why whales are selling collateral now
Chaos Labs reported approximately $140 million in Aave V3 liquidations over 24 hours during a recent wave. Meanwhile, 21shares flagged $3.7 billion in liquidations over the weekend.
Those figures reveal leverage being flushed system-wide, not just on Aave or decentralized lending, as positions hit health factor thresholds and protocols force collateral sales to cover bad debt.
The difference between voluntary and forced deleveraging is execution quality, not market impact.
Selling 173 WBTC at $69,000 generated roughly $12 million, enough to cover the debt repayment. Waiting until the health factor drops below 1.0 means Aave auctions the same collateral at 5-10% discounts during stress periods, leaving the whale unable to control the timing.
Both outcomes remove Bitcoin from the market and eliminate the leverage that would have recycled capital into future purchases.
$VANRY #VanarChain @Vanar
The address repaid $11.75 million in USDC after pulling 173 WBTC collateral, boosting its Aave health factor to 1.54.
A wallet attributed to President Donald Trump's World Liberty Financial, which is managed by his sons, withdrew approximately 173 wrapped Bitcoin from Aave V3 on Feb. 5 and sold them to repay $11.75 million in stablecoin debt.
This sequence reveals the mechanics of voluntary deleveraging: as Bitcoin's drawdown below $63,000 forces whales to sell collateral and reduce leverage, protocol liquidation engines trigger at worse terms.
The address 0x77a…F94F6, labeled as WLFI on Arkham Intelligence, withdrew roughly 73 WBTC and 100 WBTC from Aave V3's collateral pool, then repaid 5,037,001 USDC and 6,710,808 USDC to the protocol in separate actions.
Although there is no confirmation regarding the wallet's ownership, on-chain intelligence platforms and prior reporting have linked similar activity patterns to World Liberty Financial's documented positions on Aave involving WBTC and ETH collateral.
Nevertheless, the wallet turned Bitcoin exposure into cash to reduce leverage and raise health factor buffers. The wallet still holds substantial exposure, with approximately 13,298 WETH and 167 WBTC as Aave collateral backing $18.47 million in variable-rate USDC debt.
Why whales are selling collateral now
Chaos Labs reported approximately $140 million in Aave V3 liquidations over 24 hours during a recent wave. Meanwhile, 21shares flagged $3.7 billion in liquidations over the weekend.
Those figures reveal leverage being flushed system-wide, not just on Aave or decentralized lending, as positions hit health factor thresholds and protocols force collateral sales to cover bad debt.
The difference between voluntary and forced deleveraging is execution quality, not market impact.
Selling 173 WBTC at $69,000 generated roughly $12 million, enough to cover the debt repayment. Waiting until the health factor drops below 1.0 means Aave auctions the same collateral at 5-10% discounts during stress periods, leaving the whale unable to control the timing.
Both outcomes remove Bitcoin from the market and eliminate the leverage that would have recycled capital into future purchases.
$VANRY #VanarChain @Vanar
Can Google’s 13,000× “quantum echoes” put Bitcoin’s keys on a clock.Google’s Willow chip earned verifiable quantum advantage this week; here’s what that does, and doesn’t, mean for ECDSA, SHA-256, and coins with revealed public keys.
-------------------------------
For decades, physicists have promised that quantum computing would one day outrun classical machines. That day may have arrived.
On Oct. 22, Google’s Willow quantum processor completed a task that supercomputers would need 150 years to finish by compressing centuries of calculation into two hours.
Industry experts say the result, verified by Nature, isn’t only a triumph for science. It’s a tremor through the foundations of digital security, sparking a renewed question in financial circles: how close are we to a future where quantum power can break Bitcoin’s cryptography?
The breakthrough
The breakthrough centers on the Out-of-Time-Order Correlator (OTOC), or “Quantum Echoes,” algorithm.
By running it on 105 physical qubits at 99.9% fidelity, Willow became the first processor to achieve verifiable quantum advantage, proving that a quantum computer can solve a complex physical model faster and more precisely than any classical supercomputer.
In simple terms, Willow didn’t just calculate; it perceived. Its output revealed molecular structures and magnetic interactions that were mathematically invisible to traditional systems. The processor outperformed classical machines by a factor of 13,000, completing the computation in hours instead of years.
This milestone follows years of incremental progress. In 2019, Google’s Sycamore chip first demonstrated “quantum supremacy.”
By 2024, Willow had corrected its own quantum errors in real time. The 2025 achievement goes further, offering the first fully verifiable, independently confirmed result that transforms quantum computing from theory to proof.
#VanarChain @Vanarchain $VANRY
-------------------------------
For decades, physicists have promised that quantum computing would one day outrun classical machines. That day may have arrived.
On Oct. 22, Google’s Willow quantum processor completed a task that supercomputers would need 150 years to finish by compressing centuries of calculation into two hours.
Industry experts say the result, verified by Nature, isn’t only a triumph for science. It’s a tremor through the foundations of digital security, sparking a renewed question in financial circles: how close are we to a future where quantum power can break Bitcoin’s cryptography?
The breakthrough
The breakthrough centers on the Out-of-Time-Order Correlator (OTOC), or “Quantum Echoes,” algorithm.
By running it on 105 physical qubits at 99.9% fidelity, Willow became the first processor to achieve verifiable quantum advantage, proving that a quantum computer can solve a complex physical model faster and more precisely than any classical supercomputer.
In simple terms, Willow didn’t just calculate; it perceived. Its output revealed molecular structures and magnetic interactions that were mathematically invisible to traditional systems. The processor outperformed classical machines by a factor of 13,000, completing the computation in hours instead of years.
This milestone follows years of incremental progress. In 2019, Google’s Sycamore chip first demonstrated “quantum supremacy.”
By 2024, Willow had corrected its own quantum errors in real time. The 2025 achievement goes further, offering the first fully verifiable, independently confirmed result that transforms quantum computing from theory to proof.
#VanarChain @Vanarchain $VANRY
$ETH Vitalik Buterin takes shot at Coinbase’s corporate control of Base which dominates 60% of layer 2 income
Ethereum co-founder Vitalik Buterin has signaled a fundamental shift in the blockchain’s roadmap that declares the era of the “branded shard” effectively over.
On Feb. 3, Buterin argued that the industry’s previous “rollup-centric” vision no longer makes sense, citing faster scaling on the main Ethereum layer and the sluggish pace of decentralization among major rollups.
This philosophical correction lands squarely on the Coinbase-backed Base network.
Over the past years, the Ethereum layer-2 solution has grown into one of the largest consumer-facing rollups in the crypto ecosystem, with more than $11 billion in total value secured (TVS).
However, Buterin's new roadmap position calls into question the validity of Layer-2s that rely on corporate affiliation rather than unique technical utility.
As a result, this places significant pressure on Base. It raises the question of whether Ethereum’s evolving definition of “aligned scaling” erodes the Coinbase-backed layer-2 solution's long-term economic edge, particularly the lucrative revenue model tied to centralized sequencing.
#VanarChain $VANRY @Vanarchain #USIranStandoff #WhenWillBTCRebound #EthereumLayer2Rethink?
Ethereum co-founder Vitalik Buterin has signaled a fundamental shift in the blockchain’s roadmap that declares the era of the “branded shard” effectively over.
On Feb. 3, Buterin argued that the industry’s previous “rollup-centric” vision no longer makes sense, citing faster scaling on the main Ethereum layer and the sluggish pace of decentralization among major rollups.
This philosophical correction lands squarely on the Coinbase-backed Base network.
Over the past years, the Ethereum layer-2 solution has grown into one of the largest consumer-facing rollups in the crypto ecosystem, with more than $11 billion in total value secured (TVS).
However, Buterin's new roadmap position calls into question the validity of Layer-2s that rely on corporate affiliation rather than unique technical utility.
As a result, this places significant pressure on Base. It raises the question of whether Ethereum’s evolving definition of “aligned scaling” erodes the Coinbase-backed layer-2 solution's long-term economic edge, particularly the lucrative revenue model tied to centralized sequencing.
#VanarChain $VANRY @Vanarchain #USIranStandoff #WhenWillBTCRebound #EthereumLayer2Rethink?
Ethereum collapses below $2,000 after Vitalik Buterin and insiders moved millions to exchanges into
Ethereum co-founder Vitalik Buterin and other prominent “whales” have offloaded millions of dollars in ETH since the beginning of February, adding narrative fuel to a market rout that saw the world's second-largest cryptocurrency tumble below $2,000.
While the high-profile sales by Buterin served as a psychological trigger for retail panic, a closer examination of market data suggests that the primary pressure came from a systemic unwind of leverage and record-breaking selling activity across the network.
Nonetheless, these disposals, combined with significant selling by other industry insiders, have prompted investors to question whether project leaders are losing confidence or simply managing operational runways amid extreme volatility
Why is Buterin selling his Ethereum holdings?
In the past 3 days, Buterin sold 6,183 ETH ($13.24M) at an average price of $2,140, according to blockchain analysis platform Lookonchain
However, the specifics of Buterin’s transactions reveal a calculated, rather than panic-driven, strategy.
Notably, Buterin publicly disclosed that he had set aside 16,384 ETH, valued at approximately $43- $45 million at the time, to be deployed over the coming years.
He stated the funds are earmarked for open-source security, privacy technology, and broader public-good infrastructure as the Ethereum Foundation enters what he described as a period of “mild austerity.”
In this light, the most defensible explanation for “why he sold” is mundane. It appears to be the conversion of a pre-allocated ETH budget into spendable runway (stablecoins) for a multi-year funding plan rather than a sudden attempt to time the market top.
However, the channel through which these sales affect the market is more narrative-driven than liquidity-based. When investors see founder wallets active on the sell side during a downturn, it tilts sentiment and deepens the bearish resolve of an already shaky market.
Still, Buterin remains an ETH whale, holding over 224,105 ETH, which is equivalent to approximately $430 million.
#Plasma $XPL @Plasma $ETH
While the high-profile sales by Buterin served as a psychological trigger for retail panic, a closer examination of market data suggests that the primary pressure came from a systemic unwind of leverage and record-breaking selling activity across the network.
Nonetheless, these disposals, combined with significant selling by other industry insiders, have prompted investors to question whether project leaders are losing confidence or simply managing operational runways amid extreme volatility
Why is Buterin selling his Ethereum holdings?
In the past 3 days, Buterin sold 6,183 ETH ($13.24M) at an average price of $2,140, according to blockchain analysis platform Lookonchain
However, the specifics of Buterin’s transactions reveal a calculated, rather than panic-driven, strategy.
Notably, Buterin publicly disclosed that he had set aside 16,384 ETH, valued at approximately $43- $45 million at the time, to be deployed over the coming years.
He stated the funds are earmarked for open-source security, privacy technology, and broader public-good infrastructure as the Ethereum Foundation enters what he described as a period of “mild austerity.”
In this light, the most defensible explanation for “why he sold” is mundane. It appears to be the conversion of a pre-allocated ETH budget into spendable runway (stablecoins) for a multi-year funding plan rather than a sudden attempt to time the market top.
However, the channel through which these sales affect the market is more narrative-driven than liquidity-based. When investors see founder wallets active on the sell side during a downturn, it tilts sentiment and deepens the bearish resolve of an already shaky market.
Still, Buterin remains an ETH whale, holding over 224,105 ETH, which is equivalent to approximately $430 million.
#Plasma $XPL @Plasma $ETH
ເຂົ້າສູ່ລະບົບເພື່ອສຳຫຼວດເນື້ອຫາເພີ່ມເຕີມ