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February 6th — Per HTX market data, Bitcoin extended its rebound in premarket U.S. stock trading, edging up slightly. At press time, BTC briefly topped $67,500 and was last trading at $67,401, with its 24-hour decline narrowing to 0.23%.

On-chain analyst Ai Auntie (@ai_9684xtpa) notes that Trend Research launched another sell-off 3 hours later: it deposited 30,000 ETH (valued at $58.18 million) to Binance. Its current on-chain holdings have dropped to 217,274 ETH ($421 million), and offloading another 146,000 ETH will clear all its leverage positions.

February 6th — In a Barron’s report, TD Cowen analyst Lance Vitanza noted Strategy is well-positioned to weather a more severe Bitcoin sell-off, despite its stock having fallen 30% year-to-date. Vitanza upholds a “Buy” rating on Strategy with a $440 price target. He highlighted the company’s $2.25 billion cash pile, which covers ~$900 million in fixed costs for nearly 17 months and funds the potential redemption of its $1 billion convertible bonds maturing in September 2027 — insulating its finances from Bitcoin price swings. TD Cowen also forecasts Bitcoin will rebound eventually and hit a new all-time high in Q3 2026.

On February 6, omnichannel trading platform Based announced it will release details about the BASED token’s TGE via the Based Foundation’s official Twitter account (@BasedFnd) on February 8.

February 6 Officials from China’s central bank and securities regulator have explained the context behind the newly issued **Notice on Further Preventing and Addressing Risks Related to Virtual Currencies and Other Matters** (hereafter the “Notice”): it was created by revising the original document, building on lessons from past work and in response to emerging risk scenarios. Additionally, the Notice upholds the policy stance of recent years, reiterating key rules: - Virtual currencies do not hold the same legal status as fiat currencies. - Engaging in virtual currency-related business activities within China constitutes illegal financial activity. - Overseas entities and individuals are prohibited from illegally providing virtual currency-related services to domestic entities in any form. To address the rapid growth of real-world asset tokenization in recent years, the Notice emphasizes prohibitions on: - Conducting real-world asset tokenization activities within Chin

**February 6 — The China Securities Regulatory Commission (CSRC) has issued the *Regulatory Guidance on Overseas Issuance of Asset-Backed Securities Tokens by Domestic Assets*.** ### Key Requirements - The CSRC will strictly regulate overseas token issuance by domestic assets in accordance with laws and regulations. - **Domestic entities controlling the underlying assets must file with the CSRC before launching such business**, submitting: - A filing report - A complete set of overseas issuance materials - Other required documents - Filers must fully disclose: - Domestic filing entity details - Underlying asset information - Token issuance plans ### Obligations The filing entity, its controlling shareholders, actual controllers, directors, supervisors, senior managers, and relevant intermediaries must ensure all submitted materials are **true, accurate, and complete** — with no false records, misleading statements, or material omissions.