数据：265.11 枚 BTC 从 Cumberland DRW 转出，价值约 647 万美元

Bitcoin Crashes Over $10K in a Day as Derivatives Trigger Massive Liquidations

Bitcoin’s plunge reflects liquidation-driven trading, where derivatives overpower spot demand and transform price action into a cascade of forced exits. Synthetic Bitcoin supply from ETFs, futures, and swaps now dictates short-term valuation more than on-chain scarcity or retail

数据：若 BTC 突破 72,308 美元，主流 CEX 累计空单清算强度将达 11.17 亿美元

ChainCatcher 消息，据 Coinglass 数据显示，若 BTC 突破 72,308 美元，主流 CEX 累计空单清算强度将达 11.17 亿美元。反之，若 BTC 跌破 65,532 美元，主流 CEX 累计多单清算强度将达 7.53 亿美元。

Bitcoin Hashrate Drops 20% as Mining Profitability Collapses

Gate News bot message, Bitcoin's hashrate has dropped approximately 20% as mining profitability collapsed. Crashing BTC prices and Winter Storm Fern across 34 U.S. states triggered the largest difficulty adjustment since China's 2021 ban. Many miners shifted operations during this period.

Altcoin Season Signals Appear, but Risk of Reversal Remains

_Altcoins show short-term recovery signals as Bitcoin dominance forms a lower high this cycle now._ _Oversupply of tokens and fragmented liquidity weaken clean rotation from Bitcoin into altcoins._ _Analysts warn a brief mini-altseason may fade as Bitcoin dominance prepares for a