February 4

1. Bitcoin and Ethereum: Bitcoin dropped to a low of 72,888 last night after a decline, then rebounded, currently closing at 75,780; Ethereum dipped to 2,107, then rebounded to a high of 2,343, now trading at 2,238.

2. Altcoin Market: The altcoin market remains stable, with ARC surging 50% to lead the gains; RIVER fell 33%, closing at 12.35; the previously plummeting BULLA briefly rebounded to 0.0465 before falling again, now at 0.0281; HYPE rose 23% to $39, then declined, currently at $33.2.

3. Neighboring Markets: The US stock market's three major indices all closed lower, with the Nasdaq down over 1%. The precious metals sector surged against the trend; the large A-shares rose 1.29%, led by photovoltaic equipment and shipbuilding; gold and silver markets made a strong comeback, with gold up 7% to $4,955 and silver up 10% to $85; oil prices surged to $64.

4. US-Iran Tensions Escalate: US forces shot down an Iranian drone. A US-operated, US-flagged chemical tanker "Stena Imperative" was approached by an Iranian gunboat in the Strait of Hormuz and demanded to be boarded.

5. Trump Signs Funding Bill Ending Partial Government Shutdown.

6. MetaMask integrates with Ondo Finance to launch tokenized US stock trading features.

7. Institutional and On-Chain Activity: 505,554 SOL (worth approximately $50.34 million) transferred from unknown wallets to An; An transferred 1,433 BTC, worth about $109 million, to unknown wallets; 1,963 BTC, valued at around $150 million, moved from unknown wallets to CB institutional wallets.

8. Severe Impact on Institutions During This Drop: MicroStrategy holds about 10% of circulating supply across 11 spot ETFs, with an average cost of approximately $85,360, resulting in an overall unrealized loss of about $7 billion. Its preferred stock dividends were increased to 11.25% to attract capital for buying coins, but high dividend costs may trigger cash flow risks. In BitMine's portfolio, ETH was acquired at a weighted average price of $3,800; current prices are around $2,430–$2,450, with an unrealized loss of about $5.9 billion, nearly a 40% retracement, turning the cost basis into a resistance level.