Bitcoin traded at $74,604 on Feb. 2 as crypto markets extended declines, with Ethereum at $2,166 and SOL dropping below $100 for the first time in approximately 300 days, BlockBeats reports. Spot gold fell below $4,500 per ounce and silver under $74 per ounce, while U.S. stock index futures and Asian equities also declined. Analysts compiled by BlockBeats offered varying outlooks: Tom Lee said the market remains in a bear phase with heavy near-term pressure and expects ETH to bottom near $2,400; Raoul Pal noted that centralized exchanges passively absorbed roughly $10 billion in assets during the Jan. 11 crash and algorithmic selling tied to U.S. equity market opens could clear by end-February, after which he anticipates a Bitcoin rebound. CryptoQuant's Ki Young Ju said sustained selling without fresh inflows is weighing on BTC but a 70% drop is unlikely unless MicroStrategy's Saylor sells heavily, while Into The Cryptoverse's Benjamin Cowen sees a gradual decline toward the 200-week moving average around $60,000–$70,000 with bear momentum extending into 2026. Trader Qiao Wang said he would begin buying at $60,000–$70,000 and commit fully at $30,000–$40,000, and traders Eugene Ng Ah Sio and Vida disclosed they bought positions and exited by Feb. 1.

Trend Research, linked to Li Hua Yi, transferred 20,000 ETH to Binance on Feb. 2 to reduce liquidation risk, on-chain analyst Ai Aunt (@ai_9684xtpa) reports. The firm sent a total of 53,589 ETH to centralized exchanges over 24 hours, which would result in a $42.67 million loss if sold at current prices. Trend Research's on-chain Ethereum holdings now stand at 608,251.55 ETH, worth approximately $1.28 billion.

A whale that previously realized $98.95 million in ETH swing profits purchased $208 million worth of cbBTC and ETH on Feb. 2, EmberCN data show. The entity acquired 60,392 ETH at an average price of $2,495 ($150 million) and 750 cbBTC at $77,040 ($57.78 million). The whale now holds 150,000 ETH ($330 million) and 750 cbBTC ($57.78 million), with an unrealized loss of $80.65 million and an average ETH cost basis of $2,726.

Address 0xd83, Hyperliquid's largest BTC and ETH short position holder, closed all positions and exited the market on Feb. 2 after a week of liquidations, BlockBeats reports citing Coinbob热门地址监控. The address was liquidated for approximately 1.99 亿美元 and 1.2 亿美元, then for about 6100 万美元 and 2750 万美元 after switching to long positions. Cumulative losses exceeded 2000 万美元, and the remaining 5.87 万美元 was withdrawn.

Bitcoin address 1NY5Kh transferred its entire holdings of 2,819 BTC, valued at approximately $213 million, on Feb. 2 after eight years of inactivity, Lookonchain data show. The whale deposited 1,500 BTC worth roughly $114 million to Paxos.

Several prominent whale addresses experienced significant position changes over the weekend as Bitcoin briefly approached $75,000 and Ethereum dropped below $2,400, Coinbob's address tracker cited by BlockBeats shows. The "BTC OG insider whale," described as the largest on-chain ETH and SOL long, was fully liquidated on its long positions with over $700 million in liquidations, resulting in approximately $270 million in losses over the past two weeks and pushing cumulative losses above $128 million since October. The "CZ counterparty" whale, previously the second-largest ETH long and largest XRP long, saw its ETH and XRP long positions liquidated for about $50.46 million in weekend losses on top of $65.13 million in liquidations last week. Trader Kevin Huang added $390,000 in margin but had HYPE and ETH longs wiped out, taking a nearly $20 million position to zero, with his account balance now reported under $2,000, while the "ultimate short" address partially closed BTC shorts for around $9.68 million in weekend profit, cutting position size from about $50 million to $14.4 million with $6.7 million (931%) in unrealized profit and roughly $10 million in funding-fee income.

Korea's KOSPI 200 index futures fell 5% on Feb. 2, triggering a five-minute program trading halt, Bitget market data cited by BlockBeats show. S&P 500 index futures extended losses to 1.1%, while Nasdaq index futures declined 1.5%. The Shanghai Composite Index dropped 1.3% and the Shenzhen Component Index fell more than 1.4%.

Trend Research, associated with Li Hua Yi, faces liquidation risk on 618,245.96 ETH if the price falls into the $1,781.09–$1,862.02 range, on-chain analyst Ai Yi (@ai_9684xtpa) said on Feb. 2. The firm has supplied $1.33 billion in WETH as collateral across six addresses and borrowed $939 million in stablecoins. Liquidations would be triggered within that range unless additional margin is added or positions are reduced.

The Crypto Fear & Greed Index stood at 14 on Feb. 2, unchanged from the prior day and keeping the market in "extreme fear," Alternative data show. The gauge, which ranges from 0 to 100, weighs volatility (25%), trading volume (25%), social media activity (15%), market surveys (15%), Bitcoin's market dominance (10%), and Google search trends (10%).