\\\"401ks exist to help people save for a secure retirement, not gamble on speculative assets,\\\" said an industry observer.

On February 6, 2026, East Eight Time, **ENS (Ethereum Name Service)** announced the halt of the development of the dedicated Layer 2 network **Namechain**, changing the originally planned **ENSv2** launch on L2 to a direct deployment on the Ethereum mainnet. This shift closely follows the **Fusaka upgrade** completed by Ethereum in 2025: the mainnet gas limit has been raised to **60 million**, along with changes such as EIP-4444, significantly enhancing the execution layer's capacity.

From February 6 to 7, Eastern Standard Time, after Bitcoin previously dropped below approximately **$60,000**, it staged a rapid counterattack, quickly rising to nearly **$70,000**, showcasing a typical "sharp drop and sharp rise" market trend. The 24-hour Bitcoin price increase on mainstream exchanges was roughly in the range of **2.2%-9.7%**, while the crypto-related sectors in the US stock market also strengthened, with some assets like **Strategy** surging about **20.05%** in a single day, indicating a resonance and repair of risk appetite both on-chain and off-chain.

In the East Eight Time Zone this week, after experiencing a sharp decline, Bitcoin quickly surged from around $60,010, with a rebound of nearly 15%, significantly amplifying the daily volatility of the entire cryptocurrency market. During this period, over $2.6 billion in crypto positions were forcibly liquidated, and the spot Bitcoin ETF recorded a net outflow of about $434 million in a single day. However, in contrast, Bitcoin's price showed relative resilience around the $69,000 range. This "liquidation"

On February 6, at 8:00 AM UTC+8, against the backdrop of Bitcoin's global price breaking **$69,000** and a 24-hour increase of about **2.3%-2.9%**, the South Korean exchange **Bithumb** mistakenly sent **2000 BTC** to users due to an operational error, and then quickly froze accounts and reverted the price. This sharp deviation lasted only about **5 minutes**, contrasting with the price range of **$69,000-$69,100** on **HTX** and **OKX** at the same time.

The crypto asset manager argued that while the current drawdown mirrors the anxiety of 2018 and 2022, long-term upside catalysts remain intact.

Today, the official website of the People's Bank of China released the "Notice on Further Preventing and Dealing with Risks Related to Virtual Currencies and Other Related Issues (Yin Fa [2026] No. 42)" issued by the People's Bank of China, the National Development and Reform Commission, the Ministry of Industry and Information Technology, the Ministry of Public Security, the State Administration for Market Regulation, the Financial Regulatory Bureau, the China Securities Regulatory Commission, and the State Administration of Foreign Exchange. The full text is as follows: Governments of all provinces, autonomous regions, and municipalities directly under the Central Government, Xinjiang Production and Construction Corps: Recently, there have been sporadic speculative activities related to virtual currencies and the tokenization of real-world assets (RWA), disrupting the economic and financial order and endangering the property safety of the people. In order to further prevent...

Your day-ahead look for Feb. 6, 2026

Preface The truly interesting core questions of cryptocurrency have not been answered to this day. "Digital gold" is not the answer for Bitcoin. It represents a form of religion and is undergoing the dual harsh tests of regulatory incorporation and stablecoins (like the US dollar). "The value of altcoins is zero" is not the answer for altcoins. Altcoins have long been defined as practically eliminated: Meme coins are by no means just air; they are a form of assetization of human belief, capable of shaping cultural symbols, defining a new generation of aesthetics, and even reshaping public thought; although attention coins experience extreme volatility and severe harvesting, but...

1. On-chain funds: $508.2M flowed into Ethereum today; $390.8M flowed out of Arbitrum 2. Maximum price fluctuations: $HBTC, $AIO 3. Top news: The current weekly oversold signal strength for Bitcoin is comparable to that of June 2022

A total of 1.08 billion JST has been burned, with over 38.7 million USD invested: JustLend DAO continues to realize the long-term deflationary logic of JST with real money, solidifying the long-term value foundation of the token.

The cover is not the cause of the curse; the cover is a symptom of the bubble.

At 6:30 in the morning, the cryptocurrency market was in turmoil, with Ethereum plummeting over 13%. At that same moment, the screen of Yi Lihua's phone flashed a glaring red warning—his fund, Trend Research, had a massive Ethereum position that was less than $200 away from forced liquidation. In the early hours of February 6, 2026, the cryptocurrency market experienced a complete collapse. Bitcoin and Ethereum led the decline, both dropping over 12%. In this storm sweeping across the entire market, one name was linked...