Yes, this week has clearly not passed unnoticed by crypto holders, investors, and traders. But we want to say right away, in addition to the strong drop in Bitcoin, many good and even useful events have happened!
It’s time to analyze the market over the past week along with our weekly crypto news digest.
Hot news – did you know that with our white-label solutions, you can develop and launch your own crypto or Web3 product faster, easier, and with full technical support at every stage: from concept to release!
Bitcoin Falls Below $70,000
On February 5, Bitcoin dropped below the $70,000 mark this week, triggering renewed discussions around market stability and short-term risk. At the time of publication, its price is about $68,788.
The decline came amid broader macroeconomic uncertainty and profit-taking after a strong rally earlier this year.
LMAX Group Strategist, Joel Kruger, pointed out signs of investor concern. According to experts, technical indicators suggest a deep oversold condition, and the cryptocurrency market has reached extreme levels of fear and uncertainty.
As a result, a “demand vacuum” has formed in the market: trading volumes are falling, capital inflows have dried up, and investors are recording losses. Glassnode analysts have recorded a large-scale loss fixation. On February 4, the daily realized loss amounted to $889 million.
From an on-chain perspective, there were no signs of structural weakness in the network itself. Instead, the move appears largely sentiment-driven, with leverage being unwound and short-term traders exiting positions.
For long-term holders, the pullback is being viewed as a corrective phase rather than a trend reversal, though volatility is likely to remain elevated in the near term.
Bitget Launches a “Zero-Risk” Promotion for New TradFi Users
Crypto exchange Bitget announced a new promotional campaign aimed at users from traditional finance platforms. This promotion will be dedicated to new users of the TradFi platform from the CIS countries and Ukraine.
The initiative allows new participants to try crypto trading with minimal or no downside risk, effectively lowering the entry barrier for first-time users. In case of losses, they will receive compensation of up to 20 USDT, according to a press release.
The total fund is 10,000 USDT. Compensation is distributed on a first-come, first-served basis in the form of a trading bonus – each user can receive up to 20 USDT.
To participate, you must:
- Create an account and transfer funds to the Bitget TradFi account
- Place an order
The move reflects a broader industry trend: exchanges are increasingly focusing on onboarding TradFi audiences by simplifying user experience and reducing perceived risk.
MetaMask Adds Support for Tokenized Stocks
On February 3rd, MetaMask introduced support for tokenized stocks and ETF, marking another step toward bridging traditional financial instruments with blockchain infrastructure.
“Mobile device users in supported jurisdictions outside the United States can access over 200 tokenized U.S. securities, including Tesla, NVIDIA, Apple, Microsoft, Amazon, as well as ETFs such as SLV (silver), IAU (gold), and QQQ, without opening a traditional brokerage account and remaining fully online. the crypto environment,” says the project website.
So, the update allows users to interact with tokenized versions of stocks directly through their wallets, depending on jurisdiction and provider availability.
This development highlights the growing interest in real-world asset (RWA) tokenization – a sector seen as one of the most promising use cases for blockchain technology.
Moreover, users can purchase Ondo Global Markets tokens for USDC on the Ethereum network through the MetaMask Swaps exchange feature.
HYPE Token Surges 22% After New Standard Announcement
The HYPE token jumped by more than 22% following the announcement of a new technical standard related to its ecosystem – HIP-4.
The initiative involves launching Hyperliquid-based prediction markets.
The integration will allow for the creation of fully secured contracts for betting on political events, sports matches, and other outcomes.
Programmers believe that the HIP-4 standard will become the basis for developing new applications on top of the HyperCore architecture.
Market participants reacted positively to the news, viewing the update as a step toward broader interoperability and improved developer tooling.
Summary
No jokes, this week’s events illustrate a market in transition and transformation: short-term pressure on prices, cautious institutional behavior, and continued long-term building across infrastructure and products.
Stay tuned with Evercode Lab for more weekly insights into blockchain trends, and explore how our white-label solutions can help your business innovate and thrive in the fast-moving Web3 ecosystem.