Crypto Daily #我在Gate广场过新年 02.11 (: Bitcoin Oversold Signal Emerges, Arizona Passes Bitcoin Reserve Bill, Bit Mistakenly Sends 620,000 BTC

1. Bitcoin Market Trends and Price Analysis
1. The "Mayer Multiple" indicator for Bitcoin has dropped to 0.65, below the oversold level of 0.8, and may further decline to the $40,000 range. After reaching historically extreme lows, it could continue to fall.
2. In the past 24 hours, the entire network experienced liquidations of $262 million, with Bitcoin long and short positions liquidated at $45.53 million and $50.33 million respectively. Ethereum long and short liquidations were $42.70 million and $40.27 million.
3. US Bitcoin spot ETF saw a net inflow of $145 million yesterday, Grayscale BTC had a single-day net inflow of $131 million, BlackRock IBIT experienced a net outflow of $20.85 million, and the ETF's net asset ratio reached 6.37%.
4. A Bitcoin whale that had been dormant for seven years transferred 2,043 BTC, possibly indicating increased market activity among long-term holders. The current price is below $70,000.
5. Bitcoin remains range-bound below $70,000, with market sentiment sensitive. Attention should be paid to the 200-week moving average support and ETF capital flows' impact on prices.

2. Bitcoin Reserves and Regulatory Developments
1. Arizona's Bitcoin Reserve Bill has been passed, making it the first state in the US to establish a state-level Bitcoin reserve, allowing state finance and retirement systems to invest up to 10% of their funds in Bitcoin and other digital assets.
2. There are reports that Trump may purchase Bitcoin when its price reaches $60,000 to supplement the US strategic Bitcoin reserve. However, this information has not been officially confirmed. The current US strategic reserve consists of 328,000 confiscated Bitcoins, with no plans for large-scale purchases.

3. Other Cryptocurrency Projects
1. Mutuum Finance )MUTM( uses a dual lending model with P2C and P2P, offering variable and fixed interest rates. The seventh phase pre-sale price is $0.04, with early investors earning up to 300%. The initial market debut price is set at $0.06.
2. Bitcoin Everlight, as a transaction coordination layer parallel to Bitcoin, allows nodes to earn Bitcoin through routing activity. The third phase pre-sale price is $0.0012. The token is used for transaction routing fees and node participation thresholds, and has completed an independent audit.
3. MemeCore, as a Layer-1 ecosystem, has an incentive model strongly tied to token price. The current token price has fallen about 52% from its cycle high. Market fluctuations significantly impact the network activity and economic benefits.

4. Institutional and Mining Company Movements
1. BlackRock deposited 3,401.98 BTC (about $234 million) and 30,215.6 ETH (about $60.82 million) into Coinbase, possibly increasing assets continuously.
2. Strategy founder Michael Saylor plans to sell 1.4% of the company's capital assets in Bitcoin to pay dividends and continues to increase its BTC holdings.
3. Canaan Technology mined 83 BTC in January, deploying hash power to over 10 EH/s. The total cryptocurrency reserves reached 1,778 BTC and 3,951 ETH. The company also repurchased $2 million worth of American Depositary Shares.
4. Hyperscale Data's Bitcoin holdings increased to approximately 589 BTC, with a market value of $41.4 million. The goal is to grow Bitcoin assets on the balance sheet to $100 million.

5. Exchange Failures and Security Incidents
South Korea's second-largest crypto exchange, Bit, mistakenly paid out 620,000 BTC (about 600 trillion Korean won) due to an activity reward distribution error. As of February 7, 125 BTC remain unrecovered. Some funds have been withdrawn or used for trading altcoins. The exchange has not taken legal enforcement measures, only persuading users to voluntarily return the funds.