Bitcoin Drops Below $78,000

On Feb. 3, per CoinDesk, economist Robin Brooks predicted President Trump’s Federal Reserve chair nominee Kevin Warsh would cut interest rates by 100 basis points ahead of the midterm elections — a call that clashes with external concerns over his hawkish stance.

**Feb 3 (AP) — The Paris Prosecutor’s Office announced Tuesday it conducted a search of the French office of Elon Musk’s social media platform X as part of a preliminary investigation into multiple alleged illegal activities, including the spread of child pornography and deepfake content.** **The probe was opened by the prosecutor’s cybercrime division in January of last year, the office noted in a statement.** **Separately, the office has requested voluntary interviews with Elon Musk and Linda Yaccarino—X’s CEO (serving 2023–2025)—scheduled for April 20. Several X employees have also been summoned to testify as witnesses during the same week in April.**

On February 3, U.S. Treasury yields climbed as latest data pointed to the U.S. economy’s growing resilience. Kudotrade’s Konstantinos Chrysikos noted in a report that Monday’s ISM Manufacturing PMI delivered a “significant upside surprise.” He noted that while employment and inventories remain in contraction territory, a rebound in the employment subindex signals the labor force’s drag on the economy could be easing. “Overall, this data reinforces the view that U.S. economic growth remains resilient,” he said. Per Tradeweb data, the U.S. 2-year Treasury yield rose 1.4 basis points to 3.582%, while the 10-year yield climbed 1 basis point to 4.286% (IG).

On February 3, Binance Wallet announced the launch of a BNB Smart Chain Transaction Competition on Binance Alpha. During the event, users can trade three tokens—FIGHT (FIGHT), Baby Shark Universe (BSU), and Merlin Chain (MERL)—via either Binance Wallet (non-custodial) or Binance Alpha to qualify for exclusive token rewards. The competition runs from 9:00 PM UTC+8 on February 3, 2026, to 9:00 PM UTC+8 on February 17, 2026.

As of February 3rd, Coinglass data shows that over the past 24 hours, the total net outflow of Ethereum (ETH) from centralized exchanges (CEXs) hit 80,800 ETH. The top three exchanges by ETH outflow were: - Binance: 61,100 ETH - Kraken: 24,900 ETH - Coinbase Pro: 16,900 ETH Additionally, Bitfinex led the inflow list with an ETH inflow of 30,600 ETH.

On February 3rd, data from Coinbob Popular Address Monitoring indicates that the address linked to "Buddy" Huang Licheng (0x020c...) underwent partial liquidation of both its HYPE and ETH long positions simultaneously, with the total value of the liquidated positions reaching approximately $1.4367 million. Specifically, 17,765.77 HYPE tokens (worth roughly $621,000) were liquidated from his HYPE long position, leaving the remaining position valued at $2.1814 million. For his ETH long position, 358 ETH (valued at around $815,700) were liquidated, with the remaining position now worth $3.1895 million. After the liquidations, the total assets in the address’s smart contract account dropped to $218,500. The address belongs to Taiwanese artist Huang Licheng, who rose to fame early on for holding Bored Ape Yacht Club (BAYC) NFTs. He has been actively trading on the Hyperliquid platform since August 2025, favoring transactions involving tokens like HYPE and ETH. Recently, his trades hav