A Whale Rug Pulls on WBTC and WEETH, Losing $1.188 Million

On February 25, Coinglass data shows Bitcoin’s Ahr999 indicator has dropped to 0.29—well below its "Buy-the-Dip Line" of 0.45. The indicator’s most recent prior low was 0.27, hit on February 6. During the last bear market cycle, the index fell below 0.3 on two key dates: June 18, 2022 (amid the "ETH Market Liquidation") and November 22, 2022 (during the "FTX Flash Crash"). Created by ahr999, the Ahr999 indicator helps Bitcoin dollar-cost averaging (DCA) users make timing decisions. It reflects Bitcoin’s short-term DCA yield and how its price deviates from its expected valuation. Throughout Bitcoin’s history, the Ahr999 indicator has spent 572 days below the 0.45 Buy-the-Dip Line.

February 25th — LookOnChain monitoring reveals a newly created wallet (BxNU5a) spent ~$180,000 four months ago to acquire 8.16 million Pippin tokens. The tokens are now valued at roughly $6.7 million, leaving the address with over $6.5 million in unrealized gains.

**February 25** Hong Kong Financial Secretary Paul Chan Mo-po announced in the 2026 Budget that the government will table a digital asset regulation draft bill this year to establish a licensing system for service providers offering digital asset trading and custody services. Currently, Hong Kong has a licensing regime in place for fiat-backed stablecoin issuers, with the first batch of licenses slated for issuance in March. The government and financial regulators will continue to encourage licensed issuers to explore additional use cases in compliance-focused, risk-controlled environments. Chan also noted that the Hong Kong Securities and Futures Commission (SFC) will further boost liquidity in Hong Kong’s digital asset market while safeguarding investor protection, offer more products and services to professional investors, and launch an accelerator to speed up market innovation. *Source: Jinse*

As per Ashes Monitor, YZi Labs transferred 37.33 million EDU (valued at $4.37 million) to Binance just 10 minutes ago on February 25th. This marks another liquidation move by YZi Labs, following the disposal of ID two weeks ago and AI and WOO yesterday.

February 25: Garrett Jin, agent behind the "BTC OG Insider Whale" X account, posted on the platform: "This will be a long winter for everyone—not just in crypto." Notably, it’s his first public comment since Jan. 30. On Feb. 1, the "BTC OG Insider Whale" account’s long positions were wiped out, with roughly $270M in losses over two weeks.

On February 25th, GMGN monitoring data shows Solana ecosystem meme coin Punch hit a $40 million market cap this morning before seeing a slight pullback. It’s currently valued at $37 million with a price of $0.037, up 51% in the past 24 hours—while trading volume over the same period has topped $19.4 million. BlockBeats advises users that meme coin trading is highly volatile, heavily dependent on market sentiment and hype, lacks tangible value or real-world use cases, and investors should be cautious of associated risks.