Bitcoin's current price movement is similar to the downtrend seen at the end of 2024, showing an upward tilt within narrow range fluctuations since February. Technical analysis indicates that a break below the lower band of 65,800 USD would form a key signal, while a breakthrough above could show different performance. Traders are closely monitoring this critical level.

Bitcoin price trend is similar to last year, currently around 70,335 USD, showing potential market pressure. If it breaks below 65,800 USD, a new round of decline may follow; breaking through the upper band could lead to a rebound. Market sentiment is cautious, investors need to pay attention to key support and resistance levels, while being vigilant about downside risks and preparing for an upside rebound.

Litecoin (LTC) price drops to a four-month low, falling nearly 12% over the past week, and market sentiment remains cautious. However, contrasting with the price action, its on-chain usage and real demand continue to rise, indicating that this established blockchain still maintains strong vitality. From a technical perspective, LTC briefly dipped to its lowest level since October of last year on the daily chart. Although there was a short-term rebound, it is still trading below key moving averages. The RSI remains in the weak zone, and the MACD is in negative territory, indicating that the downside momentum has not yet been fully exhausted. The lower band of the Bollinger Bands is frequently touched, suggesting short-term volatility is still amplifying.

February 3 News: As Bitcoin (BTC) continues to weaken, U.S. spot Bitcoin ETF investors are under significant pressure. On-chain data from Glassnode shows that the average entry price for these investors is around $84,100, while the current BTC price has fallen back to around $78,000, and over the weekend, it even dropped below $75,000, increasing unrealized losses to 8% to 9%. For funds entering the market through compliant financial products, this retracement is testing long-term confidence. After the price broke below the "ETF cost band," capital flows quickly reversed. Over the past two weeks, U.S. spot Bitcoin ETFs have experienced net outflows of approximately $2.8 billion to $3 billion, with more than ten billion-dollar redemptions in that period. On January 21, 29, and 30, daily net outflows reached $708 million, $818 million, and $510 million respectively, indicating selling pressure has not eased. Although there was a brief inflow of about $420 million on February 2, it was not enough to change the overall trend.

According to Hyperinsight monitoring, the address (0x880a…) has reduced its short position by 29.24 BTC. The total value of the short position has decreased to $18.794 million, with an unrealized profit of approximately $1.4409 million, and a return rate of 84.34%. Since last year, this address has accumulated nearly $100 million in profits.

According to HyperInsight monitoring, the address "20 Million Band Hunter" reduced its holdings of BTC, ETH, and HYPE in the past hour, and gained a floating profit of $6.57 million through high-leverage short selling, indicating its aggressive short-term trading style.

BlockBeats News, monitoring shows that "20 million Wave Band Hunter" is conducting short trades on gold and XMR with high leverage. Currently, there is an unrealized loss of $318,000 and an unrealized profit of $1,032,000, with a total profit of $92.27 million, making it the largest short position holder in XMR.

According to HyperInsight monitoring, in the past 1 hour, "20 million Wave Band Hunter" (0x880ac) continued to reduce HYPE holdings and shorted, currently holding 687,596 HYPE tokens, with an unrealized loss of $10.75 million and a total profit of $91.15 million.

On January 27, news reports indicate that as Bitcoin miners cut unprofitable mining activities due to rising costs, an on-chain indicator called the "Hash Band" has once again entered the market's view, being seen as an important signal for a potential rebound in Bitcoin prices. Recently, storms across multiple parts of the United States have affected some mining farms' operations, coupled with increased electricity and maintenance costs, forcing miners to shut down some equipment, resulting in a significant decline in overall network hash rate. Data shows that the Bitcoin network hash rate has dropped from approximately 1.2 ZH/s to about 950 EH/s, a decline of nearly 20%. This suggests that the next mining difficulty adjustment is expected to decrease by about 17%, the largest drop since China's crackdown on the mining industry in 2021. For the market, this kind of hash rate contraction is often seen as a sign of the "miner capitulation" phase.

BlockBeats News, January 22 — According to HyperInsight monitoring, "Bai Sheng War God" has completed 11 band BTC trades today, maintaining a perfect winning record with a total profit of $19,000. This address has completed 202 trades, with only 5 recording a total loss of $5,195.36. The remaining 197 trades were all closed after realizing profits, with a total account profit of $388,500.