Hawk_9876
663 Following
377 Followers
153 Liked
2 Shared
Posts
All
Quotes
$0G
Russia's central bank has announced plans to allow financial institutions to offer crypto-linked investment products to qualified investors, according to a May 28 statement.
The Bank of Russia explained that it will allow instruments such as derivatives, tokenized securities, and other digital financial products that reflect crypto price movements.
However, these offerings must be non-deliverable, meaning that investors can only speculate on the prices but not receive or hold actual digital assets.
The CBR stressed that credit institutions must adopt a conservative risk assessment framework before offering these instruments. The regulator noted the importance of safeguarding financial stability while exploring controlled exposure to crypto-linked products.
This development comes amid Russia's broader efforts to build a regulatory framework for digital assets.
While the country has formalized rules for mining activities, regulations around exchanges and the wider use of cryptocurrencies remain in the works.
US pro-crypto shift boosts Russia's ecosystem
The policy shift follows a significant increase in domestic crypto activity.
According to the central bank's latest Financial Stability Review, crypto transaction volumes in Russia jumped by more than 51% in late 2024 and early 2025 compared to previous quarters.$XAU
{future}(XAUUSDT)
$XAG
The Bank of Russia explained that it will allow instruments such as derivatives, tokenized securities, and other digital financial products that reflect crypto price movements.
However, these offerings must be non-deliverable, meaning that investors can only speculate on the prices but not receive or hold actual digital assets.
The CBR stressed that credit institutions must adopt a conservative risk assessment framework before offering these instruments. The regulator noted the importance of safeguarding financial stability while exploring controlled exposure to crypto-linked products.
This development comes amid Russia's broader efforts to build a regulatory framework for digital assets.
While the country has formalized rules for mining activities, regulations around exchanges and the wider use of cryptocurrencies remain in the works.
US pro-crypto shift boosts Russia's ecosystem
The policy shift follows a significant increase in domestic crypto activity.
According to the central bank's latest Financial Stability Review, crypto transaction volumes in Russia jumped by more than 51% in late 2024 and early 2025 compared to previous quarters.$XAU
{future}(XAUUSDT)
$XAG
@加一打赏小助 Join Everyone ✨🤔
[Replay] 🎙️ 如何购买 WLFI 的 1 美元空投 How to buy USD1 airdrop WLFI
28 m 49 s · 21 listens
nice ☺️
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 @JiaYi
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 @JiaYi
ETH 😂
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
good 💯💯💯💯💯
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 @JiaYi
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 @JiaYi
yes 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
hmm
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
@Jiayi Li
{spot}(BTCUSDT)
{spot}(BNBUSDT)
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
@Jiayi Li
{spot}(BTCUSDT)
{spot}(BNBUSDT)
Bitcoin 💲💲💲
On Jan.30, 2026, US spot #Bitcoin #ETFs saw $509.7 million in net outflows, which looks like pretty straightforward negative sentiment until you look at the individual tickers and realize a few of them stayed green.
That contradiction aged fast over the next few days. Feb. 2 snapped back with $561.8 million in net inflows, then Feb. 3 flipped to -$272.0 million, and Feb. 4 sank to -$544.9 million. The totals went up and down, but the more useful clue was the same one hiding in plain sight on Jan. 30: the category can look like one trade from a distance, while the money inside it moves in very different rhythms.
By the time Bitcoin slid below $71,000, ETF flows and price finally started to rhyme.
If you're trying to read the ETF flow table like a mood ring, the table will definitely mislead you. The total number you see in the table is a scoreboard, not the play-by-play, and it can easily be dragged around by one large exit even while smaller pockets of demand keep persisting. The green islands in the deep red sea are real, but it's rarely the heroic resistance signal people want it to be.$BTC $ETH $BNB #WhaleDeRiskETH #WhenWillBTCRebound #WarshFedPolicyOutlook @JiaYi
That contradiction aged fast over the next few days. Feb. 2 snapped back with $561.8 million in net inflows, then Feb. 3 flipped to -$272.0 million, and Feb. 4 sank to -$544.9 million. The totals went up and down, but the more useful clue was the same one hiding in plain sight on Jan. 30: the category can look like one trade from a distance, while the money inside it moves in very different rhythms.
By the time Bitcoin slid below $71,000, ETF flows and price finally started to rhyme.
If you're trying to read the ETF flow table like a mood ring, the table will definitely mislead you. The total number you see in the table is a scoreboard, not the play-by-play, and it can easily be dragged around by one large exit even while smaller pockets of demand keep persisting. The green islands in the deep red sea are real, but it's rarely the heroic resistance signal people want it to be.$BTC $ETH $BNB #WhaleDeRiskETH #WhenWillBTCRebound #WarshFedPolicyOutlook @JiaYi
Post 📯
On Jan.30, 2026, US spot #Bitcoin #ETFs saw $509.7 million in net outflows, which looks like pretty straightforward negative sentiment until you look at the individual tickers and realize a few of them stayed green.
That contradiction aged fast over the next few days. Feb. 2 snapped back with $561.8 million in net inflows, then Feb. 3 flipped to -$272.0 million, and Feb. 4 sank to -$544.9 million. The totals went up and down, but the more useful clue was the same one hiding in plain sight on Jan. 30: the category can look like one trade from a distance, while the money inside it moves in very different rhythms.
By the time Bitcoin slid below $71,000, ETF flows and price finally started to rhyme.
If you're trying to read the ETF flow table like a mood ring, the table will definitely mislead you. The total number you see in the table is a scoreboard, not the play-by-play, and it can easily be dragged around by one large exit even while smaller pockets of demand keep persisting. The green islands in the deep red sea are real, but it's rarely the heroic resistance signal people want it to be.$BTC $ETH $BNB #WhaleDeRiskETH #WhenWillBTCRebound #WarshFedPolicyOutlook @JiaYi
That contradiction aged fast over the next few days. Feb. 2 snapped back with $561.8 million in net inflows, then Feb. 3 flipped to -$272.0 million, and Feb. 4 sank to -$544.9 million. The totals went up and down, but the more useful clue was the same one hiding in plain sight on Jan. 30: the category can look like one trade from a distance, while the money inside it moves in very different rhythms.
By the time Bitcoin slid below $71,000, ETF flows and price finally started to rhyme.
If you're trying to read the ETF flow table like a mood ring, the table will definitely mislead you. The total number you see in the table is a scoreboard, not the play-by-play, and it can easily be dragged around by one large exit even while smaller pockets of demand keep persisting. The green islands in the deep red sea are real, but it's rarely the heroic resistance signal people want it to be.$BTC $ETH $BNB #WhaleDeRiskETH #WhenWillBTCRebound #WarshFedPolicyOutlook @JiaYi
Login to explore more contents