Crypto Daily | Bitcoin Briefly Falls Below $75K; Michael Saylor Signals Another Bitcoin Buy; CZ Says Bitcoin Is “Still Early“

Tiger Newspress
02/02

Crypto Daily is our column tracking crypto market trends, offering timely insights and valuable updates to keep you informed.

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Bitcoin Briefly Falls Below $75,000, Continuing Decline as Liquidity Worries Mount

The world’s largest cryptocurrency briefly slipped below $75,000 in monday trading, dropping about 40% from its 2025 peak and revisiting levels last seen in the aftermath of the “Liberation Day” tariff fallout.

The drop came amid thin liquidity and limited buying interest, deepening a drawdown that has erased more than 30% from the world’s largest cryptocurrency.

Michael Saylor Signals Another Bitcoin Buy as BTC Price Slumps to $78,000

Strategy Executive Chairman Michael Saylor hinted at another bitcoin purchase following the weekend selloff.

With company's shares down 8% on the week and its STRC preferred stock trading below par, any purchase is likely to be limited due to constrained capital raising options.

Binance's CZ: Metals Drop Proves Any Asset Vulnerable To Swings, Bitcoin Is “Still Early“

In the wake of a significant drop in gold and silver prices, Binance founder Changpeng Zhao has offered his insights on the future of Bitcoin.

With a post on X, he used this occurrence to question the notion that traditional assets are resistant to extreme shocks.

Zhao highlighted that Bitcoin, a technology that is only 17 years old, is still in its infancy. He further noted that other crypto assets are even younger, stating, “We are still early.”

Infamous "Hyperunit Whale" Exits Entire ETH Position for $250 Million Loss, Left with $53 in Account: Arkham

The trader linked to former BitForex CEO Garrett Jin has closed out their entire leveraged ether position on Hyperliquid, realizing a total loss of approximately $250 million, according to Arkham.

The account now holds just $53, a stunning collapse for a whale who famously profited $200 million by shorting bitcoin and ether ahead of the October 2025 tariff-driven market crash.

The exit marks a dramatic reversal of fortune for the trader, who had built up an ETH long position worth over $700 million in recent months.

UAE-backed Entity Bought 49% of Trump-Linked Crypto Firm: WSJ

A UAE-backed entity tied to Sheikh Tahnoon bin Zayed agreed to buy a 49% stake in Trump-linked crypto firm World Liberty Financial for $500 million four days before President Donald Trump’s inauguration, according to a report from the Wall Street Journal on Saturday.

A large share of the proceeds flowed to Trump and Witkoff family entities, the report said, with the deal preceding the Trump administration's approval of expanded UAE access to advanced U.S. AI chips that had been restricted under the Biden administration.

The primary agreement was signed by Eric Trump on behalf of World Liberty Financial, the family’s crypto investment and decentralized finance project.

It involved an investment vehicle linked to Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security adviser and a member of the UAE royal family.

Bitcoin & Ethereum Spot ETF Flow

The overall net outflow of the US Bitcoin spot ETF on Friday was $509.7 million. The total net asset value of Bitcoin spot ETFs is $106.96 billion, and the ETF net asset ratio (market value compared to total Bitcoin market value) is 6.50%.

The Bitcoin spot ETF with the highest net outflow on January 30 was iShares Bitcoin Trust (IBIT), with a net outflow of $528.3 million, according to SoSoValue.

Source: SoSoValue

The overall net outflow of the US Ethereum spot ETF on Friday was $252.87 million. The total net asset value of Ethereum spot ETFs is $15.86 billion, and the ETF net asset ratio (market value compared to total Ethereum market value) is 4.9%.

The Ethereum spot ETF with the highest net outflow on January 30 was iShares Ethereum Trust ETF (ETHA), with a net outflow of $157.16 million, according to SoSoValue.

Source: SoSoValue

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