数据：若 BTC 突破 72,202 美元，主流 CEX 累计空单清算强度将达 11.68 亿美元

哈佛大学于 2025 年 Q4 首次建立以太坊 ETF 头寸并将比特币 ETF 仓位减持约 21%

哈佛大学旗下的哈佛管理公司最新披露显示，2025年第四季度减持比特币ETF约21%，同时首次建立以太坊ETF头寸，总敞口约3.526亿美元。比特币仍为最大资产持仓，高于Alphabet、微软与亚马逊的持仓。

加密市场恐惧与贪婪指数跌至历史最低，市场情绪持续低迷

加密市场情绪持续恶化，Crypto Fear & Greed Index于2月12日跌至5，创历史最低，显示出极度恐惧状态。市场波动、清算事件使风险偏好下降，机构资金仍在DeFi布局，但市场信心未恢复。

Bitcoin Faces Structural Stress Amid Market Pullback

Bitcoin's recent value decline indicates deeper market stress rather than just a normal pullback. However, increased borrowing and repaying habits suggest growing trust and maturity in crypto adoption, reflecting its evolution into a stable financial option.

Paradigm reframes Bitcoin mining as a grid asset, not energy drain

A surge in AI data-center activity has rekindled a long-running energy debate, pitting grid operators and policymakers against critics who warn that massive computing operations threaten power reliability and push up electricity costs in parts of the United States. In this backdrop, a