Huoxun Finance reported on February 5th that crypto analyst PlanB published an article on the X platform stating that, in his view, there are four potential downside scenarios in this Bitcoin bear market: 1) A pullback of approximately 80% from the previous all-time high of around $126,000, corresponding to a price of around $25,000; 2) A drop to the 200-week moving average or the already realized price range, corresponding to around $50,000 to $60,000; 3) A drop to a level slightly higher than the all-time high of the previous cycle, corresponding to around $70,000; 4) The market may have completed a phase of bottoming out around $72,900 yesterday.

According to official sources, HumaFinance, a PayFi protocol, announced on February 5th that its total PayFi transaction volume has surpassed the $10 billion mark, increasing from $2.9 billion in the same period last year to $10 billion, a 3.4-fold increase.

Huoxun Finance reported on February 5th that the Aztec community approved the TGE proposal last week, with over 4,500 validators participating in the vote. According to the voting results, tokens purchased through the CCA auction, tokens in the Uniswap V4 pool, and any accumulated block rewards will unlock and become transferable starting at 15:00 (Beijing time) on February 12, 2026. The Aztec Foundation chose to use Uniswap's CCA mechanism and denominated the publicly sold AZTEC tokens in ETH, a design decision based on Aztec's long-term development vision. In this TGE, the Uniswap ETH/AZTEC pool has been injected with liquidity by participants in the CCA mechanism, with an initial price of 1 AZTEC = 0.00001551 ETH. The pool currently holds 4234.6 ETH and 273 million AZTEC tokens, making it the third largest liquidity pool in Uniswap V4 and a primary source of early price discovery for the TGE. Since the initial liquidity is denominated in ETH, the fully diluted valuation (FDV) of the tokens will be affected by ETH market price fluctuations.

According to an article published on the X platform by zlex, co-founder of Scimitar Capital, two ETH whales holding substantial assets have liquidated most of their leveraged positions over the past week. This move caused ETH to fall by more than 20%, dragging BTC down to support levels near its all-time high from the previous cycle. The decline began when Garrett, the "10/11 insider whale," liquidated his 200,000 ETH perpetual long position over the weekend, causing the price to approach the liquidation line for Trend Research's leveraged position on Aave. Trend Research has now repaid hundreds of millions of dollars in positions, while Garrett has sold an additional $300 million worth of ETH spot. Trend Research's liquidation price has fallen to around $1600, about 24% below the current price. This vicious cycle will end once Ethereum rebounds. The market should realize this soon, and strong technical support makes now the perfect time for Ethereum and the entire cryptocurrency market to bottom out. We hold a long position in Ethereum.

In the past hour, total liquidations across the network reached $48.83 million, with $44.57 million from long positions, with $4.26 million from short positions. BTC liquidation $35.62 million, ETH liquidation $6.37 million.