BitMine Immersion Technologies has become the largest publicly disclosed holder of Ethereum, building a treasury of about 4.33 million ETH, or roughly 3.6% of supply. Over the past 30 days it added more than 180,000 ETH as prices hovered near $2,100, with about two thirds reportedly staked and the position valued at over $9 billion.

During the week ending 6 February, BlackRock’s spot Bitcoin ETF IBIT saw net outflows of $115.14 million as Bitcoin rapidly fell from the mid-$80,000s to the high-$60,000s. On-chain data shows at least eight BlackRock-linked transfers totaling about 2,268 BTC moving to Coinbase Prime, which is used for ETF settlement rather than necessarily for immediate selling.

On 6 February, Bitcoin rebounded to about $70,300 after briefly sliding near $60,000 earlier in the week, easing selling pressure and stabilizing crypto markets. The 12% daily recovery coincided with gains in majors, including Ethereum up more than 7% and Solana over 6%, while stablecoins remained largely flat.

Tether said it has made a strategic investment in the t-0 network to push USD₮ into institutional cross-border payment infrastructure. The USD₮-powered platform is designed for licensed banks and fintechs, enabling near-instant, net-settled fiat-to-fiat transfers on a non-custodial basis. The company did not disclose the investment size or rollout timeline.

On 5 February, XRP slumped 19.64% to $1.21 in a sharp, high-volume sell-off that mirrored a broader market decline. On 6 February, the token then jumped over 24% intraday to around $1.50, with elevated trading activity suggesting aggressive repositioning rather than a calm recovery. Despite the bounce, sentiment near 78% and ongoing volatility indicate unstable price conditions, even as Bitcoin trades back near $70,000.

On 6 February, a system glitch on Bithumb briefly sent Bitcoin’s KRW pair down over 17%, with trades near ₩81.5 million before rebounding. The error credited roughly 2,000 BTC to hundreds of accounts, prompting sales of more than 500 BTC and a localized flash crash, while exchange netflows later hovered around -3,000 BTC.

Crypto market sentiment slid to extreme fear as the Fear and Greed Index printed 11. On 4 February, U.S.-listed Bitcoin ETFs saw about $545m in net withdrawals, while Ethereum funds lost around $79m. Rising volatility and weak price action reinforced a risk-off tone across majors and altcoins.

Hyperliquid's HYPE token stayed under selling pressure on Thursday even after Coinbase confirmed a spot listing with HYPE-USD trading set to begin on 5 February. The token changed hands near $32.9, more than 40% below its $58–60 peak, as a bearish market structure and fragile altcoin sentiment limited the impact of the listing news.

On 5 February, Bitcoin extended its decline below $70,000, returning to price levels last seen in late 2021 as spot and derivatives markets came under intense selling pressure. BTC traded near $67,400, more than 7.5% lower on the day, while on-chain and volume data signaled forced liquidations, reduced exposure by large holders, and a fragile technical structure around the $70,000–$72,000 region.