Trading Update: AI panic intensifies ahead of CPI release, Bitcoin remains volatile near the bottom, unlikely to repeat 'Spring Festival rally'

Daily market highlights data review and trend analysis, produced by PANews.

The current macro market is undergoing a profound confidence crisis triggered by AI.The narrative has shifted from 'AI hype' to 'AI panic,' with investors no longer focused on who will benefit but rather panicking about which industries will be disrupted and replaced.Financial markets faced a broad sell-off on Thursday.The US stock market lost $1 trillion in value.，CiscoPlummeted 12% after issuing weak margin guidance.Nasdaq Composite IndexSlumped over 2%.S&P 500 IndexDropped 1.57%, falling below the 50-day moving average.Dow Jones Industrial AverageBreached the 50,000-point level.Mag 7All declined, withAppleFalling over 5%, wiping out approximately $202 billion in market value in a single day.AmazonAfter eight consecutive days of declines, the stock price officially entered a technical bear market on Thursday, having fallen 21.4% from its peak. Industry insiders predictNVIDIAThe earnings report on February 25 will become an important catalyst in the AI sector.

The 'survival anxiety' brought by AI is spreading from software stocks to a broader range of industries.Following sectors such as SaaS, insurance, and wealth management, commercial real estate and logistics have become the latest victims.Commercial real estate companies like CBRE and JLL saw their share prices fall over 25% cumulatively in two days, while logistics giant CH Robinson plummeted 14.5%. Investors are concerned that AI automation will squeeze commissions and replace some operations.

This panic has triggered a liquidity run, causing even safe-haven assets like gold and silver to suffer. SpotGoldprices plunged more than $200 at one point during the session, closing down over 3% below the $5,000 mark,Silverwith some plummeting around 11% to near $75. Funds flowed into US Treasuries seeking safety,10-year US Treasury yieldsretreated to near 4.100%. Additionally,Today is the last day for the US stock market before the Spring Festival.The market focus is closely watching the expected announcement tonight, which is projected to be 2.5%.CPI dataIn the hope of finding clues about the Federal Reserve's interest rate path amid the turmoil, the market currently generally expects that interest rates will not be cut until July.

BitcoinCurrently, it is struggling within the range of $60,000 to $72,000, constrained by heavy supply pressure from $82,000 to $97,000 above. On-chain analysis firm Glassnode points out that the market is caught between the "real market average" of about $79,200 and the "realized price" of about $55,000, and may experience a prolonged consolidation without extreme catalysts. The FLAME LABS research report further analyzes that the shutdown price for the S19 series miners is between $75,000 and $85,000, while for the S21 series it is between $69,000 and $74,000. The range of $52,000 to $58,000 gathers the 200-week moving average and the miners' shutdown price defense line, forming a highly credible structural bottom, even though the extreme physical bottom for the S23 model is as low as $44,000. Analysts from Tony Research and Titan of Crypto predict that the bottom may appear in the fourth quarter of 2026 or in October, with target prices looking at $40,000 to $50,000; Rekt Capital warns that if the 200-week EMA (approximately $68,300) cannot be reclaimed, it will face bearish acceleration, while William Clemente and Frank A. Fetter believe that the Mayer Multiple indicator shows that it is currently in a historically significant buying zone. Astronomer and Altcoin Sherpa are focusing on the effectiveness of support at $60,000 to $65,000.

EthereumThe performance is relatively weak, with prices failing to maintain above $2,000, hitting a low of $1,745. Bloomberg analyst James Seyffart pointed out that ETH ETF holders are in a worse situation than Bitcoin holders, with the current price far below the average cost benchmark of about $3,500. In terms of technical analysis, Man of Bitcoin believes that ETH is in a downward B wave, with key support at $1,832; if it breaks below this level, it could drop to $1,600. Lennaert Snyder also holds a bearish view, targeting $1,866; StefanB is even more pessimistic, predicting that this round of decline is too severe to form a V-shaped reversal, with the bottom possibly appearing in April next year, and prices could drop to a range of $1,006 to $1,333. However, not all views are so pessimistic; analyst Rod pointed out that prices are forming a bullish descending wedge pattern, with a short-term target of $2,250. Cointelegraph analysis suggests that institutional demand and the resilience of on-chain indicators may support a price rebound to $2,400.

Solanais also under immense pressure. Analysts like Fade and Altcoin Sherpa warn that it is in the correction phase of the late cycle, and if it breaks below the key support of $60, it may further retrace to $50 or even lower. For the entire altcoin market, analyst Inmortal believes that due to the extreme dispersion of capital99% of altcoins may never reach a new all-time high again.Regarding the Mene coin, GEM DETECTER data shows that last monthPumpFunAmong the 180,000 traders on the platform, 99% of them have profits of less than $500, and 42% are in a state of loss. In addition, as one of the market barometers,CoinbaseThe fourth quarter financial report it released shows that although the annual trading volume increased by 156%, the company incurred a net loss of $667 million due to high operating expenses and investment losses, putting pressure on its stock price. At the same time, its CEO Brian Armstrong has sold over $550 million worth of company stock in the past nine months, further undermining market confidence.

(Data Source: CoinAnk, Upbit, SoSoValue, CoinMarketCap)

Bitcoin: $66,256 (YTD -24.33%), daily spot trading volume $46.81 billion

Ethereum: $1,933 (YTD -34.83%), daily spot trading volume $19.09 billion

Fear & Greed Index: 9 (Extreme Fear)

Average GAS: BTC: 10.06 sat/vB, ETH: 0.35 Gwei

Market Share: BTC 58.9%, ETH 10.5%

Upbit 24-hour trading volume ranking: XRP, BTC, BERA, ME, ETH

24-hour BTC long-short ratio: 48.95% / 51.05%

Sector performance: Broad declines in the crypto market; GameFi, Meme, and AI sectors all dropped over 2%

24-hour liquidation data: A total of 83,137 people were liquidated globally, with a total liquidation amount of $204 million. BTC liquidations amounted to $83.04 million, ETH liquidations $37.42 million, and SOL liquidations $9.73 million

Bitcoin ETF: -$410 million

Ethereum ETF: -$113 million

SOL ETF: +27.041 million USD

US Department of Labor: Non-farm payroll data will be released on February 11, CPI data rescheduled to February 13

Binance will delist ACA, CHESS, DATA, DF, GHST, and NKN spot trading pairs on February 13

FTX: The registration date for the next distribution round is February 14, with a $2.2 billion reduction in disputed claims reserve for allocation

Caixin: Asset disposal in the high-profile money laundering case involving 60,000 Bitcoin by ZhiMin Qian reaches an impasse; hearing scheduled for February 16

US January CPI year-over-year: previous value 2.7%, expected value 2.5% (February 13 at 9:30 PM)

Hong Kong, South Korea, US, Vietnam, and other exchanges will be closed during the Spring Festival (February 16)

Today's top gainers among the top 100 market cap coins: River up 17.2%, Pi Network up 4%, POL (formerly MATIC) up 3.8%, Toncoin up 3.7%, Sei up 3.5%.

Coinbase announces purchase of $39 million in Bitcoin

Aave Labs proposes transferring 100% of protocol revenue to the DAO in exchange for operational funding

Coinbase reports Q4 earnings: Net loss of $667 million, revenue down 20%

Lighter partners with Circle for USDC deposit revenue-sharing agreement

The Bhutanese government sent 100 BTC, valued at $6.77 million, to QCP Capital.

Coinbase CEO sold approximately $550 million worth of Coinbase shares in the past year.

Binance confirmed that the SAFU fund completed the purchase of the final batch of 4,545 BTC, with total BTC holdings now at 15,000

Ethereum Holdings Report: Over 60% of total supply is stored in ETH2 deposit contracts, with Rain Lohmus being the largest individual holder

Alameda bankruptcy administrator distributes over $15 million worth of SOL to creditors

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