In the past hour, total liquidations across the network reached $11.01 million, with $954,897.79 from long positions, with $10.05 million from short positions. BTC liquidation $958,550.87, ETH liquidation $6.64 million.

According to Huoxun Finance on February 8, OnchainLens reported that a newly created wallet withdrew 60,000 ETH from the cryptocurrency exchange Gate and deposited them into AaveV3, with a value of up to $122.96 million.

According to Odaily Planet Daily, market data shows that BTC and ETH spot prices experienced significant abnormal fluctuations between 00:05 and 00:17, with multiple instances of single-minute amplitude exceeding 1%, and even reaching 3% at certain moments. Some market analysts believe that such high-frequency, continuous, and drastic short-term fluctuations may be related to malfunctions in market maker grid trading strategies, amplifying price volatility during periods of relatively high liquidity.

Huoxun Finance reported on February 7th that Evgeny Gaevoy, CEO of Wintermute, published a lengthy article on the X platform. He expressed strong skepticism about the rumors circulating in the market regarding a "large institution's liquidation," believing that even if individual institutions experienced problems, it would be difficult to generate medium- to long-term systemic spillover effects. Historically, when 3AC collapsed after the Terra incident, the industry quickly confirmed the news through internal communication channels; the FTX incident also rapidly revealed risk signals during discussions with Binance regarding a bailout. However, no similar signs have been observed currently, and related rumors mostly originate from anonymous accounts lacking credibility. Evgeny Gaevoy believes that the leverage in this cycle mainly comes from perpetual contracts. Compared to the leverage facilitated by opaque uncollateralized lending platforms like Genesis and Celsius in the previous cycle, its structure is more orderly, and exchanges have learned from their lessons in margin management, using mechanisms such as ADL to avoid losses. Furthermore, he believes that no institution would now adopt FTX's model of investing user deposits in illiquid assets. Finally, he stated that if a company is indeed bankrupt, publicly denying it is a very risky thing to do, especially if the company is located in Europe, the United States, the United Kingdom, or Singapore, it may face the consequence of being sued.

Huoxun Finance News, February 7th - According to CloverPool data, Bitcoin mining difficulty was adjusted at block height 935,424 at 21:56 today, dropping to 125.86T, a decrease of 11.16%, marking the largest drop since May 2021. The current network hashrate is 948.13 EH/s, and analysis indicates that the next Bitcoin mining difficulty adjustment is expected to be further reduced.