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Bitcoin price is experiencing one of the most dramatic selloffs in its history Thursday, sliding sharply through key support levels and sparking massive liquidations in the derivatives market.  According to Bitcoin Magazine Pro data, the world’s largest cryptocurrency crashed through critical floors, dipping towards the $62,000 floor, marking the largest raw dollar drawdown ever recorded for BTC. The October 2025 all-time high above $126,000 now sits roughly $63,000 above current bitcoin price levels, as panicked selling intensified across exchanges.  This drawdown is now 50% from all-time highs and places it alongside some of Bitcoin’s most extreme historical corrections, even greater…

Vitalik Buterin warns copy-paste Layer 2s and generic EVM chains are stalling Ethereum’s long-term scaling vision. Ethereum co-founder Vitalik Buterin has said that many new Layer 2 (L2) networks are repeating shallow design patterns, and warned that generic EVM chains with optimistic bridges are holding back meaningful progress. His comments extend the public debate over whether today’s L2 ecosystem still aligns with Ethereum’s original scaling goals. No More “Copypasta” EVM Chains In a February 5 post on X, Buterin argued that comfort and familiarity, not technical necessity, are driving many L2 launches, leading to copy-paste designs that add little beyond…

In brief IREN and CleanSpark shares fell sharply after both companies missed revenue estimates in their latest earnings reports. The results landed as Bitcoin contines its slide, amplifying pressure on publicly traded miners. Investors appeared focused on near-term execution and balance-sheet risk despite both companies’ push into AI infrastructure. Publicly traded Bitcoin miners IREN and CleanSpark saw their share prices drop sharply on Thursday, as disappointing quarterly results coincided with a broader crash across cryptocurrency markets.CleanSpark shares closed sharply lower, falling $1.95, around 19%, on the session, and were trading at $7.55 in after-hours trading. IREN shares fell $5.11, or…

Russia’s Moscow Exchange (MOEX) is moving to broaden which digital assets it tracks and trades. Reports say the exchange plans to roll out new indices and futures tied to XRP, Solana, and Tron this year. That will give traders ways to follow price moves without owning the coins directly. New Crypto Indices Planned According to local coverage, Maria Silkina, who runs the derivative products group at the exchange, outlined the expansion on a recent radio broadcast. MOEX already lists benchmarks for Bitcoin and Ethereum. Now the exchange is preparing indices that mirror three more of the bigger, actively traded tokens,…

The creator of Incognito Market, the online black market that used crypto as its economic heart, has been sentenced to 30 years in prison after some blockchain sleuthing led US authorities straight to the platform’s steward.The Justice Department said on Wednesday that a Manhattan court gave Rui-Siang Lin three decades behind bars for owning and operating Incognito, which sold $105 million worth of illicit narcotics between its launch in October 2020 and its closure in March 2024.Lin, who pleaded guilty to his role in December 2024, was sentenced for conspiring to distribute narcotics, money laundering, and conspiring to sell misbranded…

Buterin argued that many Layer 2s no longer meaningfully inherit Ethereum security. Ethereum co-founder Vitalik Buterin said recent developments mean the original conception of Layer 2 scaling within the ETH ecosystem is no longer viable. He said that the progress among many L2 networks has fallen short of earlier expectations, while the mainnet continues to scale directly. Slow Progress, Low Fees In a recent post on X, Buterin pointed to two important realities reshaping the debate. First, there is the slow and difficult progress of L2s toward “stage 2” decentralization and interoperability, and the fact that Ethereum’s mainnet has already…

Bhutan moved $22.4 million in Bitcoin out of sovereign wallets this week, including a direct transaction to institutional market maker QCP Capital. The Himalayan nation’s crypto portfolio has dropped from a $1.4 billion peak to about $412 million.The outflows continue a pattern of periodic liquidations by the Royal Government of Bhutan, which began mining and holding Bitcoin in 2019. These recent transactions highlight questions facing sovereign crypto strategies amid ongoing market pressures.Sponsored SponsoredRecent Bitcoin Sales and Transaction PatternsBlockchain analytics platform Arkham confirmed the Bitcoin sales. Two major outflows came from Druk Holding Investments (DHI), Bhutan’s sovereign investment arm. The transactions…

A U.S. House investigation is probing whether World Liberty Financial, a Trump-associated crypto venture, and its dollar-pegged token became entangled with foreign sovereign capital and U.S. technology policy.The move follows a Wall Street Journal report that an Abu Dhabi-linked entity secretly agreed to buy a 49% stake in World Liberty Financial for $500 Million shortly before President Donald Trump’s inauguration in early 2025.Rep. Ro Khanna (D-Penn), ranking member of the House Select Committee on the Chinese Communist Party – a temporary U.S. House panel that investigates and studies how China affects U.S. interests – has sent a formal letter demanding…

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis. From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one…

Silver sank as much as 17% in the past 24 hours, wiping out a two-day rebound as the metal struggled to find a floor after last week’s historic rout. The move dragged gold and copper lower as well, extending an unwind that traders say has been magnified by thin liquidity and heavy speculative positioning.The renewed drop is also showing up on crypto rails. On Hyperliquid, one of the larger liquidation prints tied to tokenized silver was a forced close of roughly $17.75 million in XYZ:SILVER, with about $16.82 million of that coming from long positions, according to trade data shared…