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According to CoinDesk, Glassnode's Bitcoin on-chain metric RHODL ratio is currently at 4.5, which is the third highest level on record, and the signals it emits are more aligned with a market bottom rather than a cycle top.The RHODL ratio compares the value of Bitcoin held by long-term holders (holding for 6 months to 3 years) to that held by short-term holders (holding for 1 day to 3 months). An increase in the ratio typically reflects a longer holding period for chips and reduced speculative activity, rather than an influx of new buyers—this dynamic has occurred after significant corrections in 2015, 2019, and 2022. During the 50% drop in Bitcoin over the past six months, young speculative chips have been largely washed out, concentrating wealth among long-term holders.Historically, the RHODL ratio has only been higher than the current level twice: in 2015 (ratio of 5) and in 2022 (ratio of 7), both corresponding to cycle bottoms, which suggests that Bitcoin may still have further downside potential. However, to push the ratio to higher levels, it typically requires the activity of short-term holders to be nearly exhausted, and this condition is not yet evident under current circumstances—Bitcoin has rebounded about 25% from its February low, perpetual contract funding rates remain negative, and the S&P 500 has also reached an all-time high.Overall, this indicator suggests that the current market conditions are closer to an adjustment within the cycle rather than a cycle top formation, and the re-dominance of long-term holders in the market may indicate that a phase bottom is approaching.

According to data from TheMinerMag, in the first quarter of 2026, publicly listed Bitcoin mining companies including MARA, CleanSpark, Riot, Cango, Core Scientific, and Bitdeer collectively sold over 32,000 BTC, surpassing the total amount sold throughout last year and even exceeding the sell-off levels triggered by the Terra-Luna collapse in Q2 2022, setting a "new record for a single quarter."The backdrop of this sell-off is the key metric for measuring miner profitability, "hashprice," which has fallen to a historical low of below $35 per PH/s per day, with about 20% of miners already in the red. Asset management firm CoinShares stated in its report: "Unless the BTC price rebounds significantly, high-cost miners will further capitulate in the first half of 2026."

CryptoQuant stated that the Bitcoin network activity index has rebounded after months of decline, with daily transaction volume reaching approximately 615,000, the highest level since November 2024, involving multiple indicators such as addresses, transactions, and UTXOs.The analysis also pointed out that current Bitcoin fees remain low, and in this environment, exchanges and large holders may be conducting UTXO consolidation and fund restructuring. The surge in activity is partly due to operational behavior rather than purely organic demand.

According to Jinshi Data, the yield on Japan's 10-year government bonds has risen to its highest level since 1999.

According to monitoring by Hyperinsight, among the whales on Hyperliquid with positions exceeding ten million dollars, the address closest to the liquidation price is a whale starting with 0xedf. It currently has a 25x leverage short position of 500 BTC, approximately 35.6 million dollars, with an average price of 70,274 dollars, and the liquidation price is at 72,685 dollars, about 2.1% away from liquidation.This whale has preset 18 buy orders in the range of 71,240 to 72,420 dollars, totaling about 500 BTC, planning to reduce positions and stop losses when BTC rises to this range; meanwhile, it has also placed about 200 buy orders below, planning to take profits in batches after BTC falls below 69,500 dollars, with a target range extending to 63,500 dollars.

According to monitoring by Hyperinsight, TAO surged significantly, with an intraday increase of 20%. On-chain sentiment has also warmed up, and two whales on the Hyperliquid platform have successively chased the rise to go long.Among them, 0x0e0 opened a long position in TAO this morning at 6 AM with 5x leverage, with a position size of 1.1 million dollars and an average price of 269.5 dollars, currently showing an unrealized profit of 110,000 dollars (50%), with a liquidation price of 224 dollars. Another whale, 0xe51, entered the market in the past 4 hours with 1x leverage, with a position size of 1.72 million dollars and an average price of 295 dollars, showing a small unrealized profit of 30,000 dollars, currently ranking as the TOP 2 long position on Hyperliquid.

The tokenized U.S. stock platform xStocks under Kraken officially launched the xPoints rewards program. Byreal and Orca became the first on-chain DeFi protocols to support this program, where providing liquidity on Byreal can earn the highest tier of points weight, surpassing holding and lending activities.It is reported that xPoints can be earned through three methods: holding xStocks (basic tier), supplying on lending platforms (higher tier), and providing liquidity to liquidity pools (highest tier), with points updated daily. Both parties can earn a 20% permanent points bonus for inviting new users.

According to The Block, U.S. SEC Commissioner Hester Peirce stated in an interview with CNBC that the regulatory agency welcomes proactive dialogue from tokenized asset management companies.Peirce mentioned that the SEC hopes to collaborate with companies trying new financial products (including tokenized tools) to explore whether the market accepts these products. She emphasized that the SEC is not a "good or bad regulator" and does not determine the quality of financial products, but must ensure that products comply with legal restrictions and disclosure requirements. Peirce noted that in recent years, as attitudes toward blockchain technology have shifted, more companies have approached the SEC regarding tokenization plans.She mentioned last week that SEC staff are studying a "narrower" innovation exemption that would allow limited experimentation with specific tokenized securities under the existing regulatory framework while maintaining investor protection. Peirce stated that as companies test these models, legal, operational, and technical issues are expected to arise, but the regulatory agency hopes to work alongside the industry to address these issues.

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission, stated at the Investor Advisory Committee (IAC) meeting on Thursday that the SEC is developing innovative exemption provisions for tokenized securities, but the scope will be narrower than previously discussed exemption proposals.The Investor Advisory Committee IAC had previously recommended that the SEC should not adopt a comprehensive exemption approach to avoid undermining investor protections, including core mechanisms such as ownership disclosure, intermediary regulation, and order protection. Instead, it suggested targeted reforms through a rule-by-rule approach, which must undergo a public consultation process.SEC Chairman Paul Atkins stated at the same meeting that the commission expects to soon discuss innovative exemptions in order to seek to establish a timeline for a long-term regulatory framework. Tokenized securities currently must fully comply with U.S. federal securities laws, and the innovative exemption mechanism aims to allow controlled experiments with more advanced trading models while maintaining necessary investor protections.

According to Cointelegraph, Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), delivered a speech at the SEC Investor Advisory Committee on Thursday, calling for regulators to simplify the disclosure requirements for public companies and to promote innovative exemption mechanisms for tokenized securities.Peirce pointed out that public companies spend a significant amount of resources preparing mandatory disclosure documents, but the related content often fails to effectively enhance the quality of information available to investors, and may instead lead to information obfuscation. She believes that regulators should avoid excessive intervention in the market.On the topic of tokenized securities, Peirce stated that SEC staff are continuing to advance research on potential innovative exemption mechanisms to allow for limited experimental exploration of tokenized securities during the assessment period under the current securities law framework. She also noted that blockchain systems are expected to enable faster settlements and reduce reliance on traditional intermediaries in certain scenarios.

Binance founder CZ stated that I have tested many AI models with OpenClaw and found that Kimi AI has the highest token efficiency, good coding performance, and is the easiest to set up.

According to an analysis by The Kobeissi Letter, with U.S. oil prices currently close to $120 per barrel, their model indicates that if the current levels persist for 3 months, the U.S. CPI inflation rate will rise to about 3.7%.This would bring the U.S. inflation rate to its highest level since September 2023.

According to CryptoQuant data, the Coinbase premium has reached its highest level since mid-October 2025, reflecting that American investors are showing strong spot buying power.

The fifth richest person in Mexico stated that users should buy BTC to protect their assets from inflation and suggested buying when prices drop.

According to CryptoQuant data, the Bitcoin exchange whale ratio has reached 0.64, the highest level since 2015. This means that the current 10 wallets contribute 64% of the inflow, which typically indicates increased selling pressure from large holders.

CZ posted on the X platform that, compared to all other centralized exchanges, Binance users hold the highest proportion of most stablecoins, including USDT, USDC, USD 1, and U.

According to Newspim, Lee Chan-jin, the head of the Financial Supervisory Service (FSS) of South Korea, stated that the "Bitcoin misdelivery incident" at Bithumb is a serious event that undermines the credibility of cryptocurrency exchanges. He pointed out that Bithumb actually holds only about 42,000 bitcoins, and this misdelivery exposed the severe risks of "bookkeeping transactions" trading fictitious assets without security guarantees.He emphasized that if the investigation confirms illegal negligence, the highest level of sanctions will be imposed, including fines and business suspensions. He also suggested adding provisions for revocable or restricted access licenses in the future "Basic Law on Digital Assets" to strengthen the regulation of internal controls at exchanges.The incident occurred on February 6, when Bithumb mistakenly distributed 2,000 bitcoins to each of 249 customers as rewards (originally intended to be 2,000 Korean won), totaling 620,000 bitcoins, which was valued at approximately 61 trillion won (about 45 billion USD) at the time. Bithumb intercepted the transactions within 20 minutes, but 125 bitcoins were still sold.