Crypto Daily Report #加密市场观察 02.01(: Bitcoin Falls Below Key Support Level Triggering Massive Liquidations, Tokenized Stock Market Surpasses $9 Billion

1. Bitcoin Price Volatility and Breakdown of Key Support Levels
Bitcoin prices have recently experienced continuous declines, breaking through key support levels multiple times, such as short-term dips below $81,000, $79,658.1 USDT, and $78,000. The 24-hour decline is approximately 2%-7%, with intraday lows reaching 75,678 USDT. Price drops have been accompanied by large-scale liquidations, with approximately $1.221 billion in total liquidations across the network in the past 24 hours, over 90% of which were long positions. Some periods saw liquidation amounts of $380 million and $650 million within an hour. Technical indicators show oversold conditions, with RSI dropping to 13.8, and prices falling below the 50-period and 200-period moving averages. Glassnode warns that after breaking key support levels, prices could further decline to $80,700 and below. Market sentiment is extremely panic-stricken, with long-term holders accelerating selling, short-term holders' cost bases decreasing, and institutional capital inflows and outflows causing liquidity fluctuations.
2. Large Capital Flows in Bitcoin and Institutional/Whale Movements
A mysterious whale triggered a market chain reaction by closing long positions (such as ETH longs). The whale accurately built short positions before the major crash in October 2025, earning $200 million in a single day. Recently, it established a $700 million long position at high levels and used the weekend's low liquidity period to close $65 million worth of ETH longs, triggering massive leveraged liquidations.
Institutional capital movements are notable, such as Heka Fund under Abraxas Capital transferring 2,000 BTC to Kk, involving mainstream crypto assets trading and derivatives operations, reflecting institutional responses to market volatility and capital allocation adjustments.
3. Rapid Growth of Tokenized Stock Market
1. The tokenized stock market has experienced explosive growth over the past year, expanding from $32 million a year ago to nearly $963 million, a 2878% increase year-over-year, approaching the $1 billion mark.
2. The market is highly concentrated, with Ondo Global Markets holding over half of the market share. xStocks and Securitize are the main remaining issuers, reflecting early-stage industry characteristics.
3. Growth has been driven by improvements in institutional channels, regulatory developments (such as SEC new guidelines and DTCC no-enforcement letters), and multi-blockchain platform support (such as Ethereum and Solana), marking an important milestone in the accelerated tokenization of real-world assets (RWA).