MyToken Short-Term Trading Assistant just detected a sell signal of XRP/USDT at UTC/GMT 15:00:00 pm, Feb. 04, with the sell price at 1.55 USDT. According to the analytical result from Short-Term Assistant, recently XRP is going weak and showing a downtrend. The next resistance level above is 1.62 USDT. To learn about more trading signals, please go to「MyToken - Assistants - Trading Assistants」💡

MyToken Short-Term Trading Assistant just detected a sell signal of ETH/USDT at UTC/GMT 15:00:00 pm, Feb. 04, with the sell price at 2171.87 USDT. According to the analytical result from Short-Term Assistant, recently ETH is going weak and showing a downtrend. The next resistance level above is 2312.44 USDT. To learn about more trading signals, please go to「MyToken - Assistants - Trading Assistants」💡

In the past hour, total liquidations across the network reached $39.10 million, with $32.68 million from long positions, with $6.43 million from short positions. BTC liquidation $11.72 million, ETH liquidation $11.99 million.

According to Odaily Planet Daily, Vetle Lunde, Head of Research at K33, stated that Bitcoin has fallen approximately 40% from its October high, with a weekly drop of 11% last week, significantly influenced by declining global risk appetite. While the recent price action bears a "disturbing similarity" to the deep sell-offs of 2018 and 2022, Lunde emphasizes that "this time is different," predicting no 80% retracement like the previous two cycles. Lunde points out that the current market environment differs from previous cycles due to increased institutional adoption, inflows of funds into regulated products, and a looser interest rate environment. Simultaneously, several indicators commonly used to identify market bottoms are beginning to flash signals: On February 2nd, Bitcoin saw a high trading volume, reaching the 90th percentile, with a single-day turnover exceeding $8 billion, and the price retracing to the 2025 low. 2. In the derivatives market, open interest and funding rates have both fallen into extreme negative values, accompanied by approximately $1.8 billion in long position liquidations; historically, such events often coincide with rebounds. Vetle Lunde emphasizes that while bottoming signals have appeared, they are not yet confirmed. Similar extreme trading volumes and derivatives indicators have occurred during false rallies or mid-term corrections. The key short-term support level is around $74,000; a break below this level could accelerate the decline, targeting either the November 2021 high of around $69,000 or the 200-week moving average of approximately $58,000. Overall, Vetle Lunde believes that long-term holders do not currently face urgent selling pressure, and the current price presents an opportunity for long-term investors to enter the market, without indicating a repeat of the extreme bear markets of 2018 or 2022. (The Block)

Odaily Planet Daily reports that the final reading of the US S&P Global Services PMI for January was 52.7, below the expected 52.5 and the previous reading of 52.5. (Golden Ten)