Announcement: U.S. Initial Jobless Claims Data for Last Week to Be Released Tonight, Expected at 212K

Feb 5th: Bitcoin was hovering above $70k, while its average production cost sits around $87k—creating a ~20% gap, a classic bear market sign. In the 2019 and 2022 bear markets, BTC prices fell below production costs but eventually rebounded. Bitcoin’s total network hash rate peaked at ~1,100 EH/s in October, then dropped ~20%. It’s now rebounded to 913 EH/s and starting to stabilize. At current prices, many miners are still unprofitable. With revenue lagging operating costs, miners must keep selling BTC to cover daily operations, energy bills, and debt repayments. But long-term, this situation won’t last much longer.

On February 5, the U.S. Commodity Futures Trading Commission (CFTC) announced a significant policy shift: it formally withdrew a Biden administration-era proposal to ban political event prediction markets and signaled it intends to craft new regulations. The agency is realigning its position amid ongoing power dynamics and seeking to expand its regulatory authority.

On February 5th, Multicoin Capital co-founder Kyle Samani announced he’s stepping down from the firm, while continuing to serve as Chairman of Forward Industries — the largest SOL treasury company. Crypto industry practitioners and key opinion leaders (KOLs) quickly weighed in on the news. Prominent Solana supporter and crypto KOL @SweeperSolana noted: “Kyle’s long been SOL’s biggest advocate. His departure caught many off guard, and it’s sparked curiosity about whether this signals a new wave of talent movement in the space.” Other community voices added: “Multicoin’s investment focus on the Solana ecosystem won’t shift with one person’s exit — Kyle himself still holds an ultra-bullish view on Solana.” Crypto KOL @sjdedic commented: “Kyle Samani is one of the smartest — and possibly most accomplished — investors in crypto. His departure, driven by lost confidence in the industry, underscores how draining and fragmented this field has been for so long. Now’s the moment to truly t

On February 5, HyperInsight tracking shows the "BTC Long-Term Short" whale (address 0x5d2f4) has adjusted its BTC limit orders. Current order book data indicates the whale will buy 100 BTC if BTC drops to $64,967, and an additional 100 BTC if it falls to $59,138. Previously, the whale entered a 20x leveraged short position of 499.91 BTC at a BTC price of $111,499.3. Its current short position has been reduced to 68.33 BTC, while still holding a floating profit of $2.734 million. Additionally, the whale has earned $10.0048 million via funding rate settlements.

On Feb. 5, The Block reported that U.S. Rep. Ro Khanna—a senior House Democrat—has launched an investigation into World Liberty Financial (WLFI), a crypto project linked to Donald Trump. Earlier reports noted the project received a $500 million investment from an entity tied to a member of a UAE royal family. Khanna has sent a letter to WLFI co-founder Zach Witkoff requesting detailed information and related documents. The letter cites a Wall Street Journal (WSJ) report that Aryam Investment 1—controlled by Sheikh Tahnoon bin Zayed Al Nahyan, the UAE’s national security advisor and brother to the country’s president—holds a 49% stake in WLFI.