On-Chain Data

On February 13, news reports indicated that the US spot Bitcoin ETF experienced a new round of selling. On the same day, Standard Chartered Bank downgraded its price forecast for Bitcoin in 2026, prompting the market to reassess its medium-term outlook. Data shows that on that day, the total net outflow of funds from the spot Bitcoin ETF was $410.4 million, with a total outflow of $375.1 million for the week. If there is no significant rebound afterward, this will be the fourth consecutive week of negative fund flow. The total assets under management of related funds have fallen back to approximately $80 billion, well below the peak of nearly $170 billion in October 2025.

ChainCatcher message, according to Arkham data, at 16:06, 30,000 SOL (worth approximately $2,366,400) was transferred from one anonymous address (starting with E4Cdn3FR...) to another anonymous address (starting with ukXtWU...).

ChainCatcher reports that, according to Arkham data, at 14:46, 676 BTC (worth approximately $44.63 million) was transferred from an anonymous address (starting with 1NdG...) to multiple addresses. Some of the BTC subsequently flowed into Cobo.com.

Due to a lack of investor demand, traders are focusing on concerning US macroeconomic data, and Bitcoin open interest has fallen to $34 billion. Some of the decline is also attributed to forced liquidations, which totaled $5.2 billion over the past two weeks. In the past month, Bitcoin has dropped 28%, gold has regained the $5,000 psychological level, and the S&P 500 is only 1% away from its all-time high.

ChainCatcher reports that, according to Arkham data, at 13:33, 578.45 BTC (worth approximately $38.35 million) was transferred from an anonymous address (starting with bc1qdu3...) to another anonymous address (starting with bc1qkn7...). Subsequently, this address transferred 400.45 BTC to another anonymous address (starting with bc1qggv...).

The net outflow of Ethereum spot ETFs has reached $113.08 million, with Fidelity FETH experiencing the largest outflow at $43.52 million. BlackRock ETHA saw an outflow of $28.96 million, and Grayscale's products collectively saw an outflow of $31.54 million, showing a significant increase.

On February 13, news reports indicate that Bitcoin's recent price has been under continuous pressure, failing to stay above $72,000. Meanwhile, the total open interest in Bitcoin futures has fallen to $34 billion, hitting a new low since November 2024, down approximately 28% from 30 days ago. Although the number of open contracts measured in Bitcoin remains around 502,450, indicating that overall leverage demand has not significantly decreased, forced liquidations have accumulated to $5.2 billion, intensifying market concerns that Bitcoin may fall back to the $60,000 support level. The weak bullish leverage demand in the market highlights a decoupling of Bitcoin from traditional financial markets. Over the past month, Bitcoin has declined by 28%, with investors lacking clear catalysts. At the same time, gold prices have returned to the psychological level of $5,000, and the S&P 500 index is approaching its all-time high. Some analysts believe that the risk-averse sentiment is driven by a soft U.S. labor market. Data from the U.S. Department of Labor shows that only 181,000 new jobs are expected to be added in 2025, below expectations, but the White House emphasizes that slowing population growth is leading to decreased job demand.

Analyst IT Tech pointed out in the CryptoQuant report that the seven-day average realized net loss for Bitcoin has reached $2.3 billion, making it one of the largest panic sell-offs in history, second only to the 2021 crash and the 2022 Luna/FTX events. Currently, Bitcoin is priced at approximately $66,600, down nearly 50% from its peak last year.

Bitcoin prices have fallen 46% from the all-time high of $126,000, and the market is still in the "capitulation zone." Long-term holders are significantly reducing their positions, and the realized profit and loss ratio is approaching a critical threshold. Analysts predict that Bitcoin's bottom may occur in Q4 of this year, with prices dropping to the $40,000 to $50,000 range. Market sentiment and technical analysis indicate that challenges remain ahead.

U.S. stocks, gold, silver, and cryptocurrencies all declined yesterday. BTC dropped to $65,000, mainly due to rising unemployment claims, poor housing sales, potential government shutdown, and risk aversion in Asian markets. BTC needs to turn the $76,000 resistance into support and challenge above $80,000, but the short-term downtrend is difficult to reverse, and spot buying is insufficient to change the situation.

On February 13, news reports that EigenCloud has officially joined the Open Gas Initiative (OGI), initiated by ETHGas. The goal is to remove Gas cost friction for end users through Gas abstraction and real-time execution, promoting Ethereum towards a "real-time, Gasless" interaction paradigm. This collaboration is seen as a significant milestone in upgrading the user experience at the application layer of Ethereum and also provides scalable samples for Gasless user pathways. EigenCloud is the world's first verifiable cloud platform, offering developers verifiable and trustworthy applications, AI products, and AI agent capabilities. Based on EigenLayer's staked security model, it extends Ethereum's cryptoeconomic security to off-chain and real-world scenarios, enabling encryption verification of any input, event, and computation. After joining OGI, EigenCloud can subsidize Gas fees for critical operations without code changes, turning the original costs and barriers into growth drivers.

XRP follows the overall cryptocurrency market downward, currently at $1.36. However, in terms of capital flow, the XRP ETF has experienced zero outflows for eight consecutive days, while BTC has seen outflows of $276 million. Unemployment claims have decreased to 227,000, and the Federal Reserve's probability of cutting interest rates in March has risen to 7.8%, with a 63.9% chance in June. Looking ahead, Friday's CPI data release will be a key factor.

Bitcoin (BTC) continues its sluggish trend, trading around $66,050 on February 13. Standard Chartered Bank warns that Bitcoin may drop to $50,000 before rebounding, with a year-end target price lowered to $100,000. The U.S. Department of Justice announced that PGI CEO was sentenced to 20 years in prison for allegedly running a $200 million Bitcoin Ponzi scheme.

Bitcoin drops to around $66,000, with US Bitcoin ETFs experiencing outflows of over $3.2 billion in the past 30 days. Data released on Wednesday shows that the US labor market in 2026 started stronger than expected, with non-farm payrolls increasing by 130,000 in January, well above expectations, and the unemployment rate decreasing from 4.4% to 4.3%. The January CPI release on Friday will be the next key point, with expectations of a 0.3% increase in both overall and core CPI month-over-month.

ChainCatcher reports that, according to Arkham data, at 06:11, 671.41 BTC (worth approximately $44.16 million) was transferred from an anonymous address (starting with 1GvhXN...) to another anonymous address (starting with 14RzbS...).

The Ethereum price sits below the average cost of steady buyers, while accumulation inflows continue to rise. Long-term holders increase exposure even while holding ETH at a temporary paper loss. Reduced liquid supply forms as coins shift from short-term

The cryptocurrency market experienced a historic capitulation event, with investors incurring $3.2 billion in losses on February 5. Analysts warn that further declines may occur, with Bitcoin potentially dropping to $50,000 and Ether to $1,400 due to adverse macro conditions.

VeChain and Rekord are deploying DPP infrastructure aligned with the EU’s ESPR, which entered into force on July 18, 2024. The EU is expected to deploy a central Digital Product Passport registry by July 2026, ahead of early DPP-related compliance phases scheduled for 2027. VeChain and Rekor

ChainCatcher reports that, according to Arkham data, at 23:45, 4.791 million TON (worth approximately $6.56 million) was transferred from an anonymous address (starting with Ef-YFgxiz...) to TON. Subsequently, this address transferred 4.791 million TON to TON.