Starting from 00:00, within 101 minutes, the price of ETH plummeted from $2303 to $2204, a decrease of 4.30%.

Do not chase a desperate enemy; Bitcoin rebounded at midnight, shorting, continue counting money!

On February 3, 2026, **Vitalik Buterin** published a lengthy article on X, directly addressing the controversy surrounding the development direction of Ethereum L2. He repositioned this track, which was originally seen as a "cheap scaling channel," back into the "Ethereum-first" coordinate system. This is not a simple interpretation of a technical update, but a public redefinition of the entire L2 narrative: on one side is the L1 itself, which is expected to significantly increase the gas limit in 2026, and on the other side is the focus on "lower fees, higher TPS."

Good news is often overlooked in a bear market, but it does not disappear. It is stored in the form of potential energy.

Do not be disturbed in your heart, do not be trapped by emotions. Only by strategizing from within can one achieve victory from a thousand miles away. Among the weak waters of three thousand, only take a ladle; take what you need, do not be greedy, do not seek conflict, be flexible in giving and taking, and maintain a steady hand to ensure victory.

Do not be disturbed in your heart, do not be trapped by emotions. Only by strategizing from within can one achieve victory from a thousand miles away. Among the three thousand weak waters, only take one ladle; take what you need, do not be greedy, do not seek conflict. Be flexible in your approach, maintain control over your victories, and only then can you succeed.

Want to set sail in the market? Liying is here to share a little secret, navigating together with everyone, letting the ship of dreams ride the winds and waves, heading towards the shores of success!

The real key is not the short-term policy orientation, but rather why it is Kevin Warsh and how he fits into this emerging new system.

Central Construction

On February 3, 2026, **Galaxy Digital** announced its **Q4 and full-year financial report for 2025**, simultaneously disclosing the completion of a total financing of **$1.625 billion**, a significant blow during a weak cycle. The financial report showed that the company recorded a **net loss of $482 million** in Q4 2025, with a full-year net loss of **$241 million**. In sharp contrast, it is still accelerating the expansion of data centers, increasing power capacity to **1.6GW**, and asset management.

This week, in the East 8 Time Zone, the overall volatility in the cryptocurrency market has increased, but the Ethereum network presents a completely different picture: on-chain indicators remain robust, while the price of ETH continues to weaken, with the two curves diverging further apart. Meanwhile, **BitMine makes a counter-trend move, purchasing approximately 20,000 ETH for about $46.04 million**, creating a stark contrast with the panic selling of retail investors. On the other end, **Robinhood launches the gold token PAXG**, with spot silver recording approximately

Bullish in the evening

Mu Feng looks at the trend: 2.3 BTC/ETH evening market analysis and trading suggestions.