Ethereum's 24-hour Price Drop Widens to 15%, Now Down to $1824

**Bitcoin Drops to $60k Low Amid Whale Selling, Retail Dip Buying (Santiment)** On February 6th, Santiment analysis notes Bitcoin recently hit a low of $60,001—its first dip below that level since October 2024. The primary driver? A structural shift: whales are cutting holdings while retail investors keep buying the dip. Data shows addresses holding 10–10,000 BTC (dubbed “whales and sharks”) now control 68.04% of Bitcoin’s circulating supply, marking a 9-month low. In just the past 8 days, this group has net sold 81,068 BTC. Meanwhile, the share of Bitcoin held by addresses with <0.01 BTC (called “shrimp addresses”) has climbed to a 20-month high of 0.249%. Though the percentage is small, the trend signals retail investors are holding firm through the dip and refusing to capitulate. Santiment adds that historically, a mix of whale selling and retail buying has aligned with bear market cycles forming. Until there’s a clear sign retail investors “throw in the towel” (sell off

On February 6th, data from Coingecko shows the total cryptocurrency market capitalization fell to $2.295 trillion—down over 10% in 24 hours—with a 24-hour trading volume of $3,485.795 billion.

On February 6, trader Eugene Ng Ah Sio shared a message on his personal channel: “Buy when there’s blood in the streets—even if it’s your own.”

On February 6th, data from the Coinbob Popular Address Monitor shows that the "Ultimate Bear" whale (address 0x5d2) has opened four BTC short positions since January of last year. The first three positions combined lost approximately $5.48 million, while the most recent short yielded significant profits. Currently, the short position has accumulated around $10.05 million in funding fee income and over $61 million in contract profits, resulting in a total annual profit of $71 million. Since December 26th of last year, the address has made no further position adjustments. Last night, it significantly reduced its position to take profits, withdrawing roughly $5 million from Hyperliquid. Compared to its peak position of $136 million at the end of October last year, the whale has since cut its position by about $130 million. After multiple profit-taking withdrawals, it has not replenished the short position. It still holds a 20x-leveraged BTC short position worth approximately $4.4 mi

On February 6th, OnchainLens monitoring shows the Trend Research address transferred another 19,000 ETH to Binance, valued at roughly $35.88 million. To date, Trend Research has sent a total of 215,588 ETH to Binance—worth around $4.756 billion—for sales and loan repayment.

On February 6, blockchain analytics firm Lookonchain reported that Marathon Digital Holdings (MARA)—a U.S.-based Bitcoin mining company—transferred 1,318 BTC to Two Prime, BitGo, and Galaxy Digital over the past 10 hours. The total value of the transfer is approximately $86.89 million.