Raoul Pal said on Feb. 1 that his global liquidity model implies Bitcoin near $140,000, but an event he calls '1011' has left crypto lagging stocks and gold, BlockBeats reports. He described a Trump tariff shock that triggered leveraged liquidations; at the peak, the Binance API briefly interrupted, restricting professional market makers, with top CEXs absorbing positions on their balance sheets and later algorithmically selling around U.S. equity market open, estimating inventories possibly around $10 billion. Pal expects the sell pressure to be largely digested by end-February and said Bitcoin could quickly catch up toward $140,000; he also argued Strategy debt risk is manageable and that Saylor used debt and equity issuance to clean up the balance sheet.

Bitcoin briefly fell below $77,000 on Feb. 1, trading at $77,011 with a 24-hour decline of 5.32%, HTX data show. Ethereum also slipped under $2,300, last quoted at $2,301.07 with a 24-hour drop of 9.28%.

A whale address known as "BTC OG" transferred 3,000 ETH worth approximately $7.05 million to Binance on Feb. 1, Onchain Lens data show. The deposit followed a 100,000 ETH transfer to the exchange roughly four hours earlier.

Michael Saylor shared a Bitcoin Tracker update and wrote "More Orange" on Feb. 1, BlockBeats reports. Strategy has typically disclosed additional Bitcoin holdings the day after such messages.

On February 1, the address labeled as ZEC's largest short (0xd475) closed part of its ETH short position by taking profit on 967.68 ETH worth roughly $3.11M, Hyperinsight data cited by BlockBeats show. The address retains about $53.55M in ETH short exposure with unrealized profit of around $18.43M. The same address previously built a large short position in ZEC that began at $184 and once showed a $21M unrealized loss before turning profitable.

Tom Lee outlined his 2026 market outlook on February 1 during an appearance on podcast "The Compound", saying he remains broadly bullish on cryptocurrencies even as he believes the market is currently in a bear phase with notable short-term pressure, BlockBeats reports. He suggested ETH could establish a bottom around $2,400, after briefly dropping to about $2,200 intraday before trading back near $2,400, and argued that the long-term crypto bull cycle that began in 2022 is still in its early stages. Lee added that if the ETH/BTC ratio revisits its historical peak, Ethereum's price could approach $12,000, reiterating his earlier calls that 2025 would likely see a "down then up" pattern and that Bitcoin may still set a new all-time high.

An address linked to Bhutan's sovereign wealth fund Druk Holdings sold about 25,816 ETH (stETH) on Feb. 1 around 2:30 a.m. to reduce leverage and avoid liquidation, on-chain data show. The sale occurred as Ethereum briefly touched $2,243, with the proceeds used to repay a loan on Aave. As of the report, the address held a health factor of 1.10 on Aave, 78,245.7949 stETH, and an outstanding loan of 137.8 million USDT.

Tom Lee said during podcast "The Compound" on Feb. 1 that the current bear market was sparked by the largest deleveraging event in crypto history last October, which he believes exceeded the FTX collapse in scale, BlockBeats reports. He attributed the event to an automated cascade of liquidations triggered by a pricing flaw at a centralized exchange, saying more than 2 million accounts were liquidated, around one-third of market makers were wiped out and the platform's balance sheet was severely damaged. Lee added that selling pressure has not fully subsided and compared the situation to 2022, when recovery took 8–12 weeks, noting he has yet to see a clear rebound signal.

Veteran trader Peter Brandt said on Feb. 1 that Bitcoin could fall to $58,000, citing a chart that places BTC near the lower bound of a logarithmic channel, BlockBeats reports. The visualization indicated a continued bear market. A day earlier, Brandt projected Bitcoin would bottom and rebound between August and October before a further surge.