In the past hour, total liquidations across the network reached $138.27 million, with $119.33 million from long positions, with $18.93 million from short positions. BTC liquidation $64.17 million, ETH liquidation $68.48 million.

Odaily Planet Daily reports that Coinbase CEO Brian Armstrong is being seen as one of the main rivals of traditional Wall Street financial institutions, with significant disagreements arising over crypto regulation, particularly the CLARITY Act, which he considers crucial for cryptocurrency market structure. The report states that banks are concerned that the higher yields offered by stablecoins could divert approximately $6.6 trillion in bank deposits, impacting lending businesses; Armstrong, on the other hand, advocates for free market competition, arguing that banks are using regulation to stifle competition. Patrick Collison stated that Armstrong's position is not solely based on Coinbase's commercial interests, but rather on a belief in a fully competitive and vibrant market that helps protect consumer freedom. Armstrong subsequently retweeted and responded, stating that he seeks a socially optimal outcome of a "positive-sum game," where crypto companies and traditional financial institutions can achieve a win-win situation, opposing the view of competition as a zero-sum game and the use of government power to suppress it. (Wall Street Journal)

Odaily Planet Daily reports that S&P 500 futures fell further to 1.1%, while Nasdaq futures dropped 1.5%. (Jinshi)

According to OKX market data, BTC has fallen below 75,000 USDT, currently trading at 74,981.7 USDT, a 24-hour drop of 4.75%. (This news item was generated with AI assistance.)

According to Huoxun Finance on February 2nd, CNBC host Jim Cramer stated that Bitcoin is currently priced at $77,000, and he expects a surge of buyers to push the price back up to $82,000.