Bitcoin Bounces Nearly 10% from This Morning's Low Point, Providing Market Relief

On February 6th, per official sources, Strike stated it experienced exceptionally high traffic today, temporarily paralyzing the Bitcoin payment network. The service has now been fully restored.

On February 6, Relay Protocol—an on-chain fund interoperability infrastructure—announced it has completed a $17 million Series B funding round, led by Archetype and Union Square Ventures (USV). Additionally, the protocol revealed the upcoming launch of Relay Chain, an infrastructure built for instant cross-chain settlement.

On February 6, TradingView data shows Bitcoin’s weekly Relative Strength Index (RSI) has fallen to 26.62 as the price dropped to $64,000—matching levels seen during the 2022 bear market in June. The RSI is a widely used technical indicator across stocks, futures, forex, and crypto. Developed by U.S. technical analyst J. Welles Wilder in 1978, it measures the speed and magnitude of price moves to identify overbought/oversold conditions and potential reversal or trend continuation signals. Typically, RSI below 30 signals oversold territory.

**February 6th Market Brief** Per data from Coinbob Popular Address Monitor, spot silver posted a 15% intraday drop, hitting a low of $66. In this market shift, crypto influencer CBB (X handle: @Cbb0fe) moved quickly to adjust positions: he closed out all initial xyz:SILVER short positions, flipped to open a 3x leveraged long position on silver, and then added to the position repeatedly. As of now, CBB has partially closed roughly $1 million of his long positions. Key metrics: - Average entry price: ~$70.9 - Total position size: ~$15.65 million - Unrealized profit: ~$290,000 - Return: ~5% A seasoned trader and on-chain participant with ~100,000 X followers, CBB rose to prominence 25 years ago for publicly executing a hunt on a multi-billion-dollar BTC short whale. He now focuses on high-frequency commodity trading on Hyperliquid, primarily taking short positions.

Binance Wallet has announced the launch of the exclusive first-phase Booster event for Opinion on February 6, per official sources. Users participating in the multi-stage challenge can share up to 5,000,000 OPN airdrop rewards—with 3,000,000 OPN reserved for first-phase participants. The event requires a minimum of 61 Binance Alpha points to join; 5 points will be deducted upon participation. Rewards are subject to a lock-up period, and the unlocking date (set by the project team) will not be disclosed in advance.

On February 6th, alternative data shows the cryptocurrency Fear & Greed Index has fallen to 9—down from 12 yesterday—pushing the market deeper into "extreme fear." Note: The index ranges from 0 to 100, with components including: Volatility (25%), Market Trading Volume (25%), Social Media Hype (15%), Market Surveys (15%), Bitcoin’s share of total market cap (10%), and Google Trends Analysis (10%).