In the past hour, total liquidations across the network reached $50.69 million, with $12.33 million from long positions, with $38.36 million from short positions. BTC liquidation $5.64 million, ETH liquidation $38.78 million.

According to Odaily Planet Daily, Wintermute CEO Evgeny Gaevoy stated in an article on the X platform that he is skeptical of recent market rumors about "institutional collapses," or at least skeptical of their medium- to long-term impact. He believes that while some institutions may have indeed collapsed, there hasn't been a significant spillover effect. He pointed out that when 3AC collapsed after the Terra incident, the market quickly learned of the news because it spread through private messages. While FTX's situation took longer, it became very clear after news of its negotiations with Binance was disclosed. Currently, no similar situation has been observed; all rumors originate from anonymous accounts and have not been confirmed by any credible source. Gaevoy believes that the leverage in this cycle primarily comes from perpetual contracts, which, compared to the leverage facilitated by opaque uncollateralized lending platforms like Genesis and Celsius in the previous cycle, has a more orderly structure. Exchanges have also learned from their margin management experiences and are using mechanisms like ADL to avoid losses. Furthermore, he believes that no institution would now adopt FTX's model of investing user deposits in illiquid assets. Finally, he stated that if a company is indeed bankrupt, publicly denying it is a very risky thing to do, especially if the company is located in Europe, the United States, the United Kingdom, or Singapore, it may face the consequence of being sued.

Huoxun Finance reported on February 7th that Sean Stein Smith, a member of the Wall Street Blockchain Consortium Advisory Committee, published an article in Forbes titled "Bitcoin's Decline Is Not the End of Cryptocurrency." He pointed out that although Bitcoin has fallen sharply from its all-time high in late 2025 and market pessimism has intensified, market opinion holds that this decline does not signify the end of the crypto industry cycle. The industry's fundamentals and institutional participation are still strengthening, and the long-term development logic has not been fundamentally destroyed. Institutional adoption is still progressing, with traditional financial institutions continuing to increase their investment in on-chain asset ecosystems. This includes the NYSE's exploration of blockchain exchanges and Fidelity's plan to launch the Ethereum-based stablecoin Fidelity Digital Dollar (FIDD). Although Strategy's Bitcoin holdings are currently showing a paper loss, market analysts believe its financial structure remains sound. Most of the company's Bitcoin assets are not pledged, and the convertible bonds have long maturities, so there is no short-term liquidity pressure or risk of forced liquidation. Therefore, the company maintains its long-term bullish strategy on Bitcoin.

According to The Block, on February 7th, Giannis Antetokounmpo, the star player of the NBA Milwaukee Bucks, announced that he has become a shareholder of Kalshi, a prediction market platform regulated by the U.S. Commodity Futures Trading Commission (CFTC). A spokesperson for the company revealed that Antetokounmpo's shareholding is less than 1%, but did not disclose specific shareholding data or the difference between the actual shareholding and 1%. However, based on Kalshi's recent valuation of $11 billion, 1% of the shares is worth $110 million.

Huoxun Finance reported on February 7th that CZ posted on the X platform that Binance had provided assistance to Bithumb in handling the "accidental airdrop of 2000 Bitcoins." He noted that Binance did not tweet about the incident immediately after it occurred to avoid spreading panic. He added that all airdrop functions should have maximum value checks, and it's currently uncertain whether all projects involved with Binance have implemented this 100%.