On February 2, 2026, Galaxy’s Alex Thorn said Bitcoin is trading below the average cost basis of US spot ETFs after those funds logged their second- and third-largest weekly outflows last month. Coinglass reported about $2.8 billion in net redemptions over two weeks, while BiTBO estimates roughly $113 billion AUM and 1.28 million BTC held, implying an average purchase price near $87,830.

On February 2, 2026, Wall Street entered a key trading week as major earnings reports from large technology companies coincided with elevated market volatility. Investors are also preparing for an upcoming U.S. jobs report that may influence expectations for interest rates and equity valuations. Analysts expect continued sharp price swings as corporate results and economic data are digested.

Updated on February 2, 2026, Bitcoin fell beneath Strategy Inc's $76,037 average purchase level, intensifying pressure on the firm's accumulation play. MSTR is down nearly 70% from its peak, and with equity now tracking the value of its 712,000 BTC, issuing new shares would be highly dilutive.

On February 2 2026, metals traders across China were reported to be facing losses of at least 1 billion yuan, or $144 million, after key counterparty Xu Maohua disappeared and left a chain of contracts unsettled. SDIC Commodities Co. has become a central party in the dispute, with lawsuits exceeding 400 million yuan and a Tianjin court freezing 3,150 tons of refined copper as legal battles unfold. Regulators have tightened scrutiny of circular trading and side businesses, while past metals scandals and a sharp move in silver prices have renewed concerns about risk in the broader commodities market.

Veteran chartist Peter Brandt warned Strategy shareholders on X as Bitcoin’s early‑2026 consolidation falters. Lookonchain data shows the firm’s 712,647 BTC stack is sitting on an unrealized loss of over $900 million, while Brandt’s chart projects a possible drop toward $54,059.60. MSTR shares are 72% below the $543 record set in November 2024.

In the latest market downturn, bitcoin slid below $75,000 and ethereum fell under $2,200, helping wipe about $500 billion from the total crypto market cap since Wednesday. Over the same period, gold and silver prices plunged from their recent peaks, erasing a combined $10 trillion in market value within a few days. Despite the severe pullbacks, the relative size of the precious metals markets suggests the crypto sector remains much smaller by comparison.

A Nevada state judge issued a 14‑day temporary restraining order against Polymarket and related entities, halting the offering of event and sports contracts to residents. A preliminary injunction hearing is set for Feb. 11, and the court signaled it is not convinced that federal commodities law bars Nevada's oversight.

CertiK reported $370.3 million in digital assets were stolen via exploits and scams in January 2026, the highest monthly total in 11 months. Phishing accounted for $311.3 million, including a single $284 million social engineering loss, while PeckShield tracked 16 hacks totaling $86 million in the same month.