137 · Market Trends ✨ 2-7

Reviewing 24H Hotspots - Market Overview

1. South Korean exchange Bithumb's accounting/distribution error triggered a 'flash crash': a large amount of BTC was mistakenly recorded, and the BTC on the platform once dropped to about $55,000

2. Coinbase's collateralized lending product experienced the 'largest liquidation wave since launch': $170 million was liquidated in 7 days, with extreme scenarios potentially leading to liquidations of up to $600 million;

3. Coinbase International/Advanced will suspend multiple perpetual contract trades around February 20

4. U.S. stocks rebounded strongly: the S&P 500 saw an increase of about $1.1 trillion in market value in a single day, with S&P +2.1%, Nasdaq +2.3;

5. Russia's largest bank Sberbank is advancing 'crypto asset mortgage loans', with related legislation expected to be introduced by mid-2026

6. BTC experienced significant volatility during the day: after surging to 70,000—71,000, it fell back below 70,000 (USDT/USD basis);

7. Crypto-related U.S. stocks strengthened simultaneously: MSTR rose over 20% during the day, with institutions giving a target of $440

8. Prediction market activity is rising: Polymarket and Kalshi had multiple indicators reaching ATH in January, with a gap of only a few percentage points.