In the past hour, total liquidations across the network reached $21.92 million, with $20.30 million from long positions, with $1.62 million from short positions. BTC liquidation $5.42 million, ETH liquidation $5.71 million.

Huoxun Finance News, February 8th - According to The Bitcoin Historian, Tom Lee, Chairman of Ethereum treasury Bitmine, stated on a CNBC live broadcast that the recovery of Bitcoin and the entire cryptocurrency market has begun. He said the crypto market has "survived six drops of over 50%, but will recover as quickly as it fell." Market data shows that Bitcoin has rebounded to approximately $71,306, a 24-hour increase of 3.5%; Ethereum has rebounded to approximately $2,126, a 24-hour increase of 4.6%.

According to Lookonchain monitoring, two newly created wallets withdrew 3,500 BTC and 30,000 ETH from Binance five hours ago, with a total value of over $300 million, suggesting that a whale may be accumulating BTC and ETH.

In the past hour, total liquidations across the network reached $10.21 million, with $8.31 million from long positions, with $1.90 million from short positions. BTC liquidation $2.19 million, ETH liquidation $3.44 million.

Huoxun Finance reported on February 8th that, according to Jinshi citing 21st Century Business Herald, a closed-door seminar on policy prospects for the National People's Congress and the Chinese People's Political Consultative Conference (NPC & CPPCC) was recently held at the Beijing Advanced Research Institute of Jiangxi University of Finance and Economics. The meeting was chaired by CPPCC member Yin Yanlin, and Li Chungen, Vice President of Jiangxi University of Finance and Economics, attended and delivered a speech. Experts at the meeting suggested the following: First, fiscal policy should play a greater regulatory role this year, with the deficit ratio higher than or at least no lower than last year, increasing the scale of national debt issuance, and expanding the overall expenditure. Second, given the current high actual financing costs, a significant overall interest rate cut should be implemented to stimulate investment and consumption, at least 50 basis points throughout the year, while better utilizing the space for reserve requirement ratio (RRR) cuts. Third, the coordination between fiscal and monetary policies should be strengthened, the role of new financial policy tools should be better utilized, and their scale should be appropriately expanded to achieve a leverage effect on investment. Fourth, to stabilize investment, boost consumption, and restore the basic conditions for effective credit issuance as soon as possible, it is necessary to increase efforts to stabilize the real estate market.