Bitcoin faces $100 million sell pressure, plummeting to $91,000; $109 million futures liquidated within 1 hour.

Source: TokenPost Original Title: [Morning News Briefing] Bitcoin Plunges Due to $1 Billion Sell Pressure… Forced Liquidation of Futures Positions Worth $1.09 Billion in 1 Hour Outside Original Link:

$1.09 Billion Futures Forced Liquidation Within 1 Hour

The major trading platforms experienced a forced liquidation of $1.09 billion in futures positions in the past hour. Over 24 hours, the total forced liquidation reached $5.07 billion.

Foreign Media Analysis: Profit-taking Sell-off of About $1 Billion Causes Short-term Drop

Bitcoin sharply dropped to $91,000 overnight, attributed to profit-taking sell orders totaling about $1 billion. Analysis indicates that BTC previously recovered the $94,000 level on the 6th but then fell back to $91,000. This short-term decline caused BTC to fail in breaking through the key resistance zone of $94,000-$95,000. Order book data shows that major exchanges have concentrated sell orders of about $1 billion in this range, acting as a “ceiling” that limits upward momentum and triggers short-term profit-taking. According to CoinMarketCap data, BTC is currently trading at $92,123.08, down 2.25%.

Bitcoin Miner Riot Platforms Sells $200 Million BTC in December and November

Bitcoin mining company Riot Platforms sold $200 million worth of BTC at year-end. In November, they sold 383 BTC ($3.7 million), and in December, 1,818 BTC ($16.16 million). As a result, their BTC holdings have decreased to 18,005 BTC. A leading asset management firm’s digital asset head stated that the proceeds from this BTC sale will be used for AI development.

Analysis: Ethereum Validator Withdrawal Queue Disappears, Selling Pressure Eases

On the 6th, the Ethereum validator withdrawal queue has dropped to zero, significantly easing selling pressure from validators. Analysis shows that in September last year, the Ethereum validator withdrawal queue once reached 2.67 million ETH. Currently, this “withdrawal queue” has decreased by 99.9%. Meanwhile, the deposit queue has surged to 1.3 million ETH, indicating institutional capital’s renewed interest in entering the market.

Bitcoin Falls Below $92,000

BTC has fallen below the $92,000 mark. On a major exchange’s USDT trading pair, BTC is quoted at $91,967.84.

Bitcoin Falls Below $93,000

BTC has fallen below the $93,000 mark. On a major exchange’s USDT trading pair, BTC is quoted at $92,997.34.

Pro-Crypto US Senator: “Seizing and Selling Samourai Wallet’s BTC Was a Mistake”

The U.S. Federal Law Enforcement (USMS) sold 57.55 BTC ($6.36 million) from the Bitcoin mixing service Samourai Wallet that was confiscated last year, drawing concern from pro-crypto U.S. senators. The senator stated, “With the President’s directive to treat Bitcoin as a strategic reserve asset, I don’t understand why the U.S. government is still cashing out Bitcoin. Other countries are accumulating Bitcoin, and we have no room to waste strategic assets.”

Analysis: ETH Daily Chart Shows Double Bottom Pattern, Potential to Rebound to $3,900

The Ethereum daily chart shows a “double bottom” pattern, which, if completed, could see ETH rebound to $3,900. Analysis suggests that since Q4 last year, a double bottom has been forming, indicating that demand in the key support zone has been repeatedly defended successfully. If the pattern completes, the target price could rise approximately 20% from current levels to $3,900. The key factor is the recovery of the 200-day exponential moving average (EMA). Since turning weak in November last year, ETH has attempted twice to recover the 200-day EMA but failed each time, followed by declines. Therefore, if the daily close is above the 200-day EMA, a breakthrough of the long-term trend resistance line could become possible.

A Compliance Platform Launches BREV Spot Trading

A U.S. cryptocurrency exchange announced the listing of BREV spot trading on the 6th. Accordingly, the platform and its app will launch BREV-USD trading. The exchange had previously included BREV in its listing roadmap.

Analysis: Short-term BTC Holders’ Profit and Loss Ratio Reaches Bottom of Last November, Room for Growth

Technical indicators show that BTC bottomed in November last year and is poised for a rise. Data indicates that when BTC sharply dropped to around $80,000 in November, the Short-Term Holder P/L Ratio (Short-Term Holder P/L Ratio) fell to 0.013, consistent with major bottom signals in 2011, 2015, 2018, and 2022. Since then, BTC recovered to $94,000 earlier this year, and the ratio increased to 0.45. As this indicator usually signals strong upward movement after breaking above 1, there is still ample room for further gains.

Research Report: 85% of Newly Launched Cryptocurrencies Last Year Fell Below Initial Valuation

A report shows that 85% of new cryptocurrencies launched last year fell below their initial valuation, with median token prices dropping over 70% from the launch price. The report, based on tracking 118 new crypto token generation events (TGE) from last year, concludes that many new altcoins surged during the 2021 bull market due to bubbles and risk appetite but mostly declined after listing last year. Reasons for poor performance include insufficient user adoption, lack of clear utility, regulatory uncertainty, and unbalanced circulation structures. The report suggests that marketing-based hype in the crypto market will gradually fade, and only tokens with restraint, clear incentive mechanisms, and real utility will survive.

MarketVector Launches Stablecoin and Tokenized Asset Indexes

A global asset management company’s index provider launched two new benchmark indexes tracking stablecoins and physical asset (RWA) tokenization infrastructure, with corresponding ETFs now available. The new indexes aim to enable investors to indirectly invest in companies involved in stablecoin issuance, settlement, clearing, and tokenization platforms. The related ETF products are listed on NYSE Arca.

U.S. Bankers’ Association Warns Again About Gaps in Stablecoin Legislation

The U.S. Bankers Association has again called for closing regulatory gaps in the (GENIUS) stablecoin legislation. The association wrote to the U.S. Senate stating that the provisions regarding interest payments on stablecoins in last summer’s passed legislation lack clarity. This could restrict banks’ lending sources, harming small businesses, farmers, and households.

White House Crypto Official and Senators Discuss Market Structure Bill

The White House’s AI and cryptocurrency official held a meeting with senators to discuss advancing the passage of the (CLARITY) Market Structure Bill.

Tether Introduces New Unit “Scudo” in XAUT

Tether announced the introduction of a new unit called “Scudo” in its gold-backed stablecoin Tether Gold (XAUT). This aims to simplify on-chain pricing and sending of fractional gold units for users.

Lighter Launches 24/7 Stock Perpetual Futures Trading

Decentralized perpetual futures exchange Lighter announced it will operate 24/7 stock perpetual futures trading and plans to launch a continuous 24-hour operation mode in the future.

Former CFTC Chairman Candidate Joins Sui Group Holdings Board

The former CFTC (CFTC) chairman candidate has joined the board of Nasdaq-listed Sui Group Holdings. He will lead the company’s institutional investment strategy. The individual was previously nominated for CFTC chairman but withdrew due to conflicts of interest and other controversies.

U.S. Supreme Court to Rule on Trump Tariff Policy on the 9th

The U.S. Supreme Court will issue a ruling on the constitutionality of the Trump administration’s tariff policy on the 9th (local time).