2 月 7 日，据链上数据分析师余烬监测，易理华旗下 Trend Research 已累计将 63.04 万枚 ETH (约合 12.94 亿美元) 转进了 Binance，链上现仅剩 2.13 万枚 ETH (约合 4394 万美元)。
其 96% 的 ETH 都已经转进交易平台，数量远超卸掉杠杆所需出售的数量，大概率将要全部清仓了。

<div><p>2 月 7 日，据链上数据分析师余烬监测，易理华旗下 Trend Research 已累计将 63.04 万枚 ETH (约合 12.94 亿美元) 转进了 Binance，链上现仅剩 2.13 万枚 ETH (约合 4394 万美元)。</p><p>其 96% 的 ETH 都已经转进交易平台，数量远超卸掉杠杆所需出售的数量，大概率将要全部清仓了。</p></div>

易理华卸掉杠杆后或决定清仓，已将98%的ETH仓位转入CEX

On February 7th, according to on-chain data analyst Yu Jin, Trend Research, owned by Yi Lihua, had transferred a total of 630,400 ETH (approximately $1.294 billion) to Binance, leaving only 21,300 ETH (approximately $43.94 million) on-chain.

96% of its ETH has already been transferred to trading platforms, far exceeding the amount needed to unleverage, suggesting a high probability that it will liquidate its entire position.

<div><p>On February 7, according to on-chain data analyst Yu Jin, Trend Research, owned by Yi Lihua, has transferred a total of 630,400 ETH (approximately US$1.294 billion) to Binance, leaving only 21,300 ETH (approximately US$43.94 million) on the chain.</p><p> 96% of its ETH has already been transferred to trading platforms, far exceeding the amount needed to unleverage, and it is highly likely that it will be completely liquidated.</p></div>

After unleveraging, Yi Lihua may have decided to liquidate his entire position, having already transferred 98% of his ETH holdings to a CEX.

Bitcoin's fundamentals have never changed; what has changed is its price in a continuously depreciating fiat currency system.

The real risk of Bitcoin is never price pullbacks.

Author: Nancy, PANews
Original title: No Black Swan Events, Four Atypical Guesses About the Culprit Behind Bitcoin Overselling
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A black swan-style crash has arrived, but we haven't seen where the black swan is, which is even more unsettling.
Almost without warning, Bitcoin suddenly plummeted, entering its third-largest oversold zone in history, causing both long positions to collapse and psychological barriers to fall. This has left the market perplexed...

The absence of black swan events suggests there may be other reasons for Bitcoin's current oversold condition.

Daily market data review and trend analysis, produced by PANews.
1. Market Observation
On February 6th, global financial markets experienced a "Black Friday," with mainstream assets initially showing gains across the board. However, a sell-off on Wall Street intensified, affecting almost all sectors, with only 200 stocks rising in the S&P 500. Weak employment data fueled investor concerns about economic resilience. US job openings in December fell to their lowest level since 2020, while January layoffs hit a record high since 2009. All three major stock indexes fell by more than 1%. Technology stocks were hit hardest, with the software sector declining for the eighth consecutive day...