The buyers, it seems, have grown weary, their support waning like the last embers of a dying fire. On-chain data, that faithful witness, confirms the growing anguish among Ethereum’s adherents, who now find themselves in a state of quiet despair.
On Feb. 6, 2026, the crypto beast halted its death spiral, which had nearly devoured the “Trump Bump”-a fancy name for gains made since the 2024 election. After briefly flirting with $60,000, Bitcoin staged a 15% rally, vaulting past $71,000 and reviving a market that had been dancing on the brink of a bear pit. The $1.4 trillion market cap returned, much like a ghost in a tie, to haunt the bears.
In a move that screams “look how much cash we have!” Galaxy Digital’s board approved a buyback program, allowing them to repurchase Class A common stock over the next 12 months. CEO Mike Novogratz (aka Crypto’s Mr. Optimism) claims this reflects the company’s “strong financial position” and “confidence in long-term growth.” Sure, Mike, whatever you say.
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While the price drop mimicked the drama of a financial apocalypse, data suggests this was not a systemic liquidity failure but a localized farce of proportions both ridiculous and regrettable.
On the 6th of February, Binance’s gavel fell upon the following pairs: RENDER/FDUSD, NEAR/FDUSD, SUSHI/BTC, and others-AUDIO/BTC, BB/FDUSD, BERA/FDUSD, EIGEN/BTC, FIDA/BTC, HEI/BTC, IOTX/ETH, KERNEL/FDUSD, MANTA/BTC, MTL/BTC, PEOPLE/FDUSD, RONIN/BTC, SAPIEN/BNB, SCR/BTC, S/ETH, S/FDUSD, and VANA/FDUSD. Tokens that once danced in the moonlight of Binance’s listings now shuffle toward the void.
Ah, the last 48 hours have been a veritable cornucopia of absurdity on social media, where whispers have morphed into raucous proclamations that Jeffrey Epstein, the man who could charm a snake out of its skin, is none other than Satoshi Nakamoto, the elusive architect of Bitcoin. The ‘2008 Satoshi Email’ has been more popular than a cat video, yet the freshly unwrapped Epstein files reveal not a shred of evidence to support this claim.
Binance confirmed that its SAFU reserve received 3,600 BTC in the latest transaction. The allocation was executed during a period of broad market weakness, while trading volumes remained elevated. Public blockchain data tracked the transfer into wallets associated with the SAFU reserve. Because why not, right?
Thursday was not just any day; it was a cataclysmic selloff that would make even the most stoic of market analysts weep into their overpriced organic coffee. Bitcoin, in a dramatic flair, tumbled down to $60,000, marking its lowest point since October 2024. It was so dramatic even Shakespeare would have taken notes.
Now, while this might seem a world away from crypto, we all know that geopolitical shenanigans can send shockwaves throughout the markets. For Bitcoin and the digital asset crowd, this whole situation is a bit like a double-edged sword: it proves that money that can’t be censored is mighty tempting, but also makes folks quiver in their boots, pulling back institutional dollars faster than a rabbit caught in headlights.
