Cryptocurrency Dark Web Drug Market Operator Rui-Siang Lin Sentenced to 30 Years in Prison

February 4 On-chain analyst Murphy took to social media today, noting Bitcoin has plummeted from its $97k January 15 high to $73k by February 4—breaching the $80k psychological support quickly amid market panic. Key on-chain data: Over 610k BTC (88% of total outflows) left positions above $80k in 20 days, acting as a major selling pressure driver. But URPD on-chain data points to a critical structural shift: Selling pressure from long-term holders with profitable positions has weakened sharply (only 9.7% of the total decline), signaling these holders are highly reluctant to sell. Meanwhile, strong buying pressure has emerged in the $70k-$80k range: Net purchases of ~450k BTC, nearly double the absorption seen in the $80k-$90k range. This suggests capital is “buying the dip” with real funds to build layered support. Murphy’s take: This cycle differs from prior downturns—bulls have mounted sustained, structured defense; coin concentration is gradually shifting lower, not tr

As of Feb. 4, Coinglass data shows total crypto liquidations over the past 24 hours hit $704 million. Long positions accounted for $527 million of the total, while short positions made up $177 million. Globally, 161,559 traders were liquidated in the same 24-hour window. The largest single liquidation was an $8.403 million ETH-USDT position on the HTX platform.

February 4th — Per HyperInsight monitoring, at 2:09 PM (14:09) today, a whale with an address starting with 0xc6ac opened a new 20x leveraged long position in BTC at an average entry price of $76,380. The whale holds a 33.87 BTC long position (equivalent to ~$2.59 million), with an unrealized gain of roughly $3,679.

**Bitcoin & Ethereum Funding Rates Update (Feb 4)** Per Coinglass data, Bitcoin briefly dipped below $73k early Feb 4 before rebounding above $76k. Funding rate trends show: - Bearish sentiment has eased from yesterday but remains dominant. - Bitcoin’s rates across exchanges flipped from negative to positive, though the bearish trend persists. - Ethereum’s rates are still negative on most platforms—shorts are paying longs to hold positions, signaling stronger bearishness for ETH. **BlockBeats Note**: Funding rates align perpetual contract prices with underlying assets (exchanges don’t charge this fee; it’s a transfer between long/short traders). - 0.01% = baseline rate. - Above 0.01% = generally bullish. - Below 0.005% = generally bearish.

On February 4, Binance announced the launch of a Spot TWAP order feature in an official statement. This tool lets users execute large orders in batches, helping them secure a more favorable market average price while minimizing slippage and market impact.

Cointelegraph reported on February 4 that Coin Metrics has observed a sharp decline in Ethereum network fees since the network’s Fusaka upgrade in December 2025, which has boosted the efficiency of on-chain operations. Currently, Ethereum’s average daily transaction volume exceeds 2 million, and active addresses are up 60% from their prior average level. Coin Metrics noted that low gas fees have spurred a surge in "dusting attacks": stablecoin (USDC and USDT) "dust transactions" now account for roughly 11% of total Ethereum transaction volume and 26% of daily active addresses. Before the upgrade, dust transactions made up only 3%-5% of total volume—but that share has tripled post-upgrade. A dusting attack refers to hackers sending small amounts of tokens to random addresses to track wallets or disrupt the network.