Web3 Daily Brief
2026-02-07
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The dominant factors in today's market are the reiteration by eight Chinese departments that virtual currency activities are illegal, as well as a huge “ghost” balance error on Bithumb, which has triggered intense anxiety in the community. Macroeconomic sentiment has fallen into “extreme fear,” with the index dropping to 6. Bitcoin is facing a sharp decline towards $67,723, while analysts are focusing on a potential historical bottom near the 0.6 Mayer Multiple. For investors looking for fiat entry signals, Binance's latest reserve report shows that the USDT collateral rate has reached a healthy 103.76%, and the minting of 1.5 billion USDC by Circle on Solana indicates that, despite the current volatility, there is still a large amount of liquidity being positioned. With Aave liquidating over $450 million in collateral, and a giant whale transferring $351 million in BTC to exchanges, the current focus should be on monitoring the USDT over-the-counter premium and liquidation range to look for potential entry signals. This high-pressure environment characterized by large-scale liquidations and regulatory pressure suggests that while “extreme fear” often signals a rebound, entry should be gradual, with a close eye on the price difference between fiat and cryptocurrency.
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