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23:51

Overnight V-shaped Volatility in the Crypto Market, Bitcoin briefly dropped below $73,000, Ethereum touched $2,110

BlockBeats News, February 4th, according to an exchange market data, the crypto market saw another V-shaped shock this morning, with Bitcoin falling to $72,945 before rebounding to $75,953, down 3.37% in 24 hours. Ethereum fell to $2,110 before rebounding to $2,340, now trading at $2,241, down 4.3% in 24 hours. SOL fell below $100, now trading at $97.8, and BNB is trading at $759. The total market capitalization of cryptocurrencies is $2.648 trillion, down 3.3% in 24 hours. The top DeFi losers are:

ZAMA is now trading at $0.028, down 22.2% in 24 hours;
EUL is now trading at $1.176, down 15.2% in 24 hours;

SOLV is now trading at $0.0076, down 14.4% in 24 hours;
HUMA is now trading at $0.02134, down 14.1% in 24 hours;
FOGO is now trading at $0.028, down 13.7% in 24 hours;
BANK is now trading at $0.0359, down 13.3% in 24 hours;
ZK is now trading at $0.023, down 11.4% in 24 hours.

According to Bitget market data, the US stock market closed with the Dow down 0.3%, the S&P 500 down 0.8%, and the Nasdaq down 1.4%. Nvidia fell 2.8%, Paypal plunged 20.3%, and Microsoft fell nearly 3%. Crypto-related stocks generally fell, including:

BitGo Holdings (BTGO) plunged 5.86%;

MicroStrategy (MSTR) fell 4.56%;

an exchange (COIN) fell 4.36%;

Circle (CRCL) fell 4.49%;

MARA Holdings (MARA) fell 0.77%;

BitMine Immersion (BMNR) fell 2.06%;

SharpLink Gaming (SBET) fell 1.67%.

BlockBeats News, February 4th, according to an exchange market data, the crypto market saw another V-shaped shock this morning, with Bitcoin falling to $72,945 before rebounding to $75,953, down 3.37% in 24 hours. Ethereum fell to $2,110 before rebounding to $2,340, now trading at $2,241, down 4.3% in 24 hours. SOL fell below $100, now trading at $97.8, and BNB is trading at $759. The total market capitalization of cryptocurrencies is $2.648 trillion, down 3.3% in 24 hours. The top DeFi losers are:

ZAMA is now trading at $0.028, down 22.2% in 24 hours;
EUL is now trading at $1.176, down 15.2% in 24 hours;

SOLV is now trading at $0.0076, down 14.4% in 24 hours;
HUMA is now trading at $0.02134, down 14.1% in 24 hours;
FOGO is now trading at $0.028, down 13.7% in 24 hours;
BANK is now trading at $0.0359, down 13.3% in 24 hours;
ZK is now trading at $0.023, down 11.4% in 24 hours.

According to Bitget market data, the US stock market closed with the Dow down 0.3%, the S&P 500 down 0.8%, and the Nasdaq down 1.4%. Nvidia fell 2.8%, Paypal plunged 20.3%, and Microsoft fell nearly 3%. Crypto-related stocks generally fell, including:

BitGo Holdings (BTGO) plunged 5.86%;

MicroStrategy (MSTR) fell 4.56%;

an exchange (COIN) fell 4.36%;

Circle (CRCL) fell 4.49%;

MARA Holdings (MARA) fell 0.77%;

BitMine Immersion (BMNR) fell 2.06%;

SharpLink Gaming (SBET) fell 1.67%.

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23:41

Intel (INTC) narrows the gap with Nvidia, announces GPU development plan

According to CoinWorld, Intel CEO Pat Gelsinger has announced plans to develop GPUs to compete with Nvidia, and revealed that former Qualcomm executive Eric Demers has been hired as Chief GPU Architect. The plan will focus on the data center market, with Demers reporting to Intel's head of data center chips. Following the announcement, Intel's stock price rose slightly, with a cumulative increase of over 12% over five consecutive days. Although some analysts predict that Intel's stock price could rise to $63 by March 2026, others remain cautious. Loop Capital has initiated coverage of Intel with a "hold" rating and a target price of $25.

According to CoinWorld, Intel CEO Pat Gelsinger has announced plans to develop GPUs to compete with Nvidia, and revealed that former Qualcomm executive Eric Demers has been hired as Chief GPU Architect. The plan will focus on the data center market, with Demers reporting to Intel's head of data center chips. Following the announcement, Intel's stock price rose slightly, with a cumulative increase of over 12% over five consecutive days. Although some analysts predict that Intel's stock price could rise to $63 by March 2026, others remain cautious. Loop Capital has initiated coverage of Intel with a "hold" rating and a target price of $25.

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23:38

Michael Burry warns that a bitcoin crash could trigger a $1 billion sell-off in gold and silver

"Big Short" Michael Burry has warned that a sharp decline in bitcoin could prompt institutional investors and corporate treasuries to sell up to $1 billion worth of gold and silver to cover losses in crypto assets. He believes that bitcoin falling below $73,000 exposes its underlying fragility, and if the price drops further to $50,000, some mining companies may face bankruptcy risks. Burry pointed out that bitcoin has failed to successfully play the role of a digital safe-haven asset or a substitute for gold, and that the recent ETF-driven rally is more speculative in nature.

"Big Short" Michael Burry has warned that a sharp decline in bitcoin could prompt institutional investors and corporate treasuries to sell up to $1 billion worth of gold and silver to cover losses in crypto assets. He believes that bitcoin falling below $73,000 exposes its underlying fragility, and if the price drops further to $50,000, some mining companies may face bankruptcy risks. Burry pointed out that bitcoin has failed to successfully play the role of a digital safe-haven asset or a substitute for gold, and that the recent ETF-driven rally is more speculative in nature.

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23:38

Overview of Major Overnight Developments on February 4

21:00 (UTC+8) - 7:00 (UTC+8) Keywords: Milan, L2, Ethena, Ondo Finance1. Milan resigned as Chairman of the White House Council of Economic Advisers;2. Ethena Foundation launched a six-month incentive program;3. Trump signed an appropriations bill, ending the partial government "shutdown";4. MetaMask integrated Ondo Finance to launch tokenized US stock trading functionality;5. Franklin Templeton executive: Digital wallets will carry all of people's assets;6. Yilihua: ETH target price is above $10,000, and expectations for the next bull market remain unchanged;7. Vitalik: Unless L2 can achieve "extreme scaling" or make innovations, the original vision is no longer applicable.

21:00 (UTC+8) - 7:00 (UTC+8) Keywords: Milan, L2, Ethena, Ondo Finance1. Milan resigned as Chairman of the White House Council of Economic Advisers;2. Ethena Foundation launched a six-month incentive program;3. Trump signed an appropriations bill, ending the partial government "shutdown";4. MetaMask integrated Ondo Finance to launch tokenized US stock trading functionality;5. Franklin Templeton executive: Digital wallets will carry all of people's assets;6. Yilihua: ETH target price is above $10,000, and expectations for the next bull market remain unchanged;7. Vitalik: Unless L2 can achieve "extreme scaling" or make innovations, the original vision is no longer applicable.

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23:38

Nvidia plans to invest $20 billion to acquire a stake in OpenAI

According to a report by Bijie Network: Bijie Network reported that Bloomberg posted on Twitter stating that Nvidia is close to reaching an agreement to invest $20 billion in OpenAI's latest round of financing, which would be the chipmaker's largest single investment in the developer of ChatGPT.

According to a report by Bijie Network: Bijie Network reported that Bloomberg posted on Twitter stating that Nvidia is close to reaching an agreement to invest $20 billion in OpenAI's latest round of financing, which would be the chipmaker's largest single investment in the developer of ChatGPT.

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23:25

Ronin's Saigon testnet will migrate to the Ethereum mainnet this Thursday

BlockBeats news, on February 4, the Saigon testnet of the Ronin chain will migrate to the Ethereum mainnet this Thursday, marking Ronin's return to Ethereum and its upgrade to Layer 2. The hard fork is scheduled to take place at block height 45528550 (February 5, 2026, 23:58:55 UTC), at which time the testnet chain ID will also be updated to 202601. After the mainnet migrates to Ethereum, the mainnet chain ID will remain unchanged.

BlockBeats news, on February 4, the Saigon testnet of the Ronin chain will migrate to the Ethereum mainnet this Thursday, marking Ronin's return to Ethereum and its upgrade to Layer 2. The hard fork is scheduled to take place at block height 45528550 (February 5, 2026, 23:58:55 UTC), at which time the testnet chain ID will also be updated to 202601. After the mainnet migrates to Ethereum, the mainnet chain ID will remain unchanged.

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23:13

"Cryptocurrencies Have Bottomed Out": Why Fundstrat's Tom Lee Expects a Rebound

According to a report by Bijie Network: Top analysts have differing views on the recent trends in cryptocurrencies. Tom Lee from Fundstrat believes the market may rebound, noting that the market bottom trend is consistent, with a target price of $77,000 for bitcoin and $2,400 for ethereum. In contrast, Alex Thorn from Galaxy and Aurelie Barthere from Nansen predict further price declines. Thorn points out that bitcoin's price could fall to the 200-week moving average near $50,000. Barthere emphasizes the macroeconomic risks posed by potential policy changes from the Federal Reserve. Despite the pessimistic outlook, on-chain data shows that some large holders are increasing their positions at current price levels.

According to a report by Bijie Network: Top analysts have differing views on the recent trends in cryptocurrencies. Tom Lee from Fundstrat believes the market may rebound, noting that the market bottom trend is consistent, with a target price of $77,000 for bitcoin and $2,400 for ethereum. In contrast, Alex Thorn from Galaxy and Aurelie Barthere from Nansen predict further price declines. Thorn points out that bitcoin's price could fall to the 200-week moving average near $50,000. Barthere emphasizes the macroeconomic risks posed by potential policy changes from the Federal Reserve. Despite the pessimistic outlook, on-chain data shows that some large holders are increasing their positions at current price levels.

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23:07

Galaxy CEO says quantum computing will not pose a major threat to bitcoin

Galaxy Digital CEO Mike Novogratz stated that he does not believe quantum computing will pose a significant long-term threat to bitcoin, noting that the network can adapt through quantum-resistant code.

Galaxy Digital CEO Mike Novogratz stated that he does not believe quantum computing will pose a significant long-term threat to bitcoin, noting that the network can adapt through quantum-resistant code.

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22:42

US Stocks Move｜AMD Drops Over 7% After Hours as Revenue Forecast Disappoints the Market

Glonghui, February 4th｜Advanced Micro Devices (AMD.US) fell more than 7% after hours, trading at $224.93. AMD announced that its operating profit for the fourth fiscal quarter reached $2.85 billion, exceeding analysts' expectations of $2.47 billion; adjusted earnings per share were $1.53, higher than the market estimate of $1.32; operating revenue was $10.27 billion, including $390 million from sales of MI308 artificial intelligence (AI) chips in China, with overall revenue surpassing analysts' expectations of $9.65 billion. During the period, the operating profit margin was 28%, higher than analysts' expectations of 25.4%; capital expenditures were $222 million, less than the market estimate of $231 million; R&D expenses were $2.33 billion, more than analysts' expectations of $2.16 billion. AMD expects first-quarter operating revenue to be between $9.5 billion and $10.1 billion, higher than the average analyst estimate of $9.39 billion, but some forecasts exceeded $10 billion, which disappointed investors who had hoped to see increased AI computing power and greater returns; adjusted gross margin is expected to be about 55%, higher than the market expectation of 54.5%.

Glonghui, February 4th｜Advanced Micro Devices (AMD.US) fell more than 7% after hours, trading at $224.93. AMD announced that its operating profit for the fourth fiscal quarter reached $2.85 billion, exceeding analysts' expectations of $2.47 billion; adjusted earnings per share were $1.53, higher than the market estimate of $1.32; operating revenue was $10.27 billion, including $390 million from sales of MI308 artificial intelligence (AI) chips in China, with overall revenue surpassing analysts' expectations of $9.65 billion. During the period, the operating profit margin was 28%, higher than analysts' expectations of 25.4%; capital expenditures were $222 million, less than the market estimate of $231 million; R&D expenses were $2.33 billion, more than analysts' expectations of $2.16 billion. AMD expects first-quarter operating revenue to be between $9.5 billion and $10.1 billion, higher than the average analyst estimate of $9.39 billion, but some forecasts exceeded $10 billion, which disappointed investors who had hoped to see increased AI computing power and greater returns; adjusted gross margin is expected to be about 55%, higher than the market expectation of 54.5%.

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22:30

Software losses, value stocks decline, bitcoin price drops: Market highlights summary

According to Bijie Network: Dragged down by technology stock earnings reports, the US stock market closed lower, with software stocks significantly underperforming semiconductor stocks so far this year. This divergence is also reflected between growth stocks and value stocks, and it is expected that value sectors such as energy will lead the market in 2024. Meanwhile, bitcoin's price movement is drawing much attention. Previously, bitcoin had fallen below the key $75,000 level, and analysts warn that if it drops below $70,000, it could signal a shift to a bearish trend.

According to Bijie Network: Dragged down by technology stock earnings reports, the US stock market closed lower, with software stocks significantly underperforming semiconductor stocks so far this year. This divergence is also reflected between growth stocks and value stocks, and it is expected that value sectors such as energy will lead the market in 2024. Meanwhile, bitcoin's price movement is drawing much attention. Previously, bitcoin had fallen below the key $75,000 level, and analysts warn that if it drops below $70,000, it could signal a shift to a bearish trend.

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Overnight V-shaped Volatility in the Crypto Market, Bitcoin briefly dropped below $73,000, Ethereum touched $2,110

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