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5 Feb 2026, 15:35
Ethereum Price Plummets: ETH Crashes Below 3M Won on Upbit in Stunning 9-Month Low
BitcoinWorld Ethereum Price Plummets: ETH Crashes Below 3M Won on Upbit in Stunning 9-Month Low SEOUL, South Korea – March 2025: The Ethereum price on South Korea’s premier digital asset exchange, Upbit, has breached a critical psychological barrier, tumbling below 3 million won for the first time in nine months. This significant Ethereum price movement, recorded on March 8, 2025, sees the second-largest cryptocurrency trading at approximately 2,979,000 won, marking a sharp 5.99% decline from the previous day’s close. Consequently, this event has sent ripples through the Asian cryptocurrency markets, prompting analysts to scrutinize both local and global catalysts. Ethereum Price Breakdown and Upbit’s Market Context This recent Ethereum price drop on Upbit represents a return to levels not witnessed since May 8 of the previous year. To understand the gravity, one must consider the unique dynamics of the South Korean crypto market, often characterized by the “Kimchi Premium.” This term describes the phenomenon where cryptocurrency prices on Korean exchanges like Upbit trade at a premium compared to global averages. However, the current ETH price fall suggests a potential narrowing or inversion of this premium, indicating a powerful sell-off or capital outflow from the local market. Furthermore, Upbit operates as one of the most liquid and regulated exchanges in the region. Its price action frequently serves as a bellwether for retail and institutional sentiment across Asia. The breach of the 3-million-won support level, therefore, is not merely a numerical milestone. It is a technical and psychological event that could trigger further automated selling and influence trader behavior across correlated platforms. Analyzing the Catalysts Behind the ETH Fall Several interconnected factors likely contributed to this sharp Ethereum price correction. Primarily, broader macroeconomic headwinds continue to pressure risk assets globally. Rising interest rate expectations in key economies can diminish the appeal of non-yielding assets like cryptocurrencies. Additionally, network-specific developments within the Ethereum ecosystem, such as updates to transaction fees or staking yields, can influence short-term holder sentiment. Simultaneously, regulatory developments in South Korea and abroad play a crucial role. Any news regarding taxation, exchange regulations, or banking partnerships can cause immediate volatility on domestic platforms like Upbit. It is essential to view this ETH price movement not in isolation but as part of a complex web of global liquidity, technological evolution, and regional policy. Expert Perspective: Market Structure and Technical Analysis Market analysts emphasize the importance of volume and order book depth during such moves. A high-volume break below a long-held support level, as seen with the 3-million-won mark, often carries more technical significance than a low-volume dip. Chart patterns observed prior to the drop, such as a series of lower highs, may have signaled weakening momentum. Moreover, the relative performance of ETH against Bitcoin (the ETH/BTC pair) provides critical context. If ETH is underperforming Bitcoin significantly, it may indicate a sector rotation within crypto, rather than a blanket market downturn. Historical Comparison and Future Implications Examining past instances where the Ethereum price on Upbit faced similar declines reveals patterns of market recovery and consolidation. For instance, the market conditions preceding the May 2024 low were markedly different, involving distinct macroeconomic triggers and a different phase in Ethereum’s development roadmap. The table below provides a concise comparison: Metric May 2024 Low March 2025 Low ETH Price (KRW) ~2,950,000 won ~2,979,000 won Primary Market Driver Global inflation fears Regional liquidity shifts Ethereum Network Activity Post-Dencun upgrade Mature staking ecosystem Kimchi Premium Status Moderately elevated Potentially compressed Looking ahead, the immediate focus will be on whether the Ethereum price can reclaim the 3-million-won level as support or if it establishes a new, lower trading range. Key levels to watch include: Resistance: The 3.1 million won and 3.2 million won levels. Support: The previous yearly low near 2.95 million won. Volume: Sustained high volume on any rebound attempt. Market participants will also monitor Upbit’s dominance in the Korean won trading pair market and any announcements from Korean financial authorities that could impact capital flows into and out of digital assets. Conclusion The Ethereum price falling below 3 million won on the Upbit exchange marks a significant technical and psychological event for the South Korean cryptocurrency market. This move reflects a confluence of global macroeconomic pressures, local market dynamics, and asset-specific factors affecting ETH. While short-term volatility may persist, this development provides a clear data point for analyzing market structure, investor sentiment, and the evolving relationship between regional exchanges and the global digital asset landscape. Monitoring the Ethereum price action on Upbit in the coming weeks will be crucial for understanding the next phase of market direction. FAQs Q1: What does it mean that ETH fell below 3 million won on Upbit? This means the price of Ethereum, quoted in South Korean won on the Upbit exchange, dropped below the 3,000,000 KRW level for the first time in approximately nine months, indicating a significant sell-off and a break of a key market support level. Q2: Why is the price on Upbit different from other global exchanges? Upbit prices can differ due to the “Kimchi Premium,” a market phenomenon where crypto assets in South Korea trade at a premium because of high local demand, capital flow restrictions, and the dominance of a few large, regulated exchanges. Q3: How does this drop affect the global Ethereum price? While Upbit is a major regional exchange, the global Ethereum price is an aggregate of many markets. A sharp move on Upbit can influence Asian trading sentiment, but the global spot price is primarily set on larger, USD-based exchanges with higher overall volume. Q4: What are common reasons for a sharp price drop like this? Common catalysts include broad market sell-offs, negative regulatory news specific to the region, large sell orders by “whale” accounts, technical breakdowns triggering automated selling, or outflows from related investment products like ETFs or funds. Q5: Where can I reliably track the Ethereum price on Upbit? You can track the official ETH/KRW trading pair directly on the Upbit exchange website or application. Reputable global cryptocurrency data aggregators also list Upbit prices alongside those from other major exchanges for comparison. This post Ethereum Price Plummets: ETH Crashes Below 3M Won on Upbit in Stunning 9-Month Low first appeared on BitcoinWorld .
5 Feb 2026, 15:33
Michael Saylor faces criticism over $10 million Bitcoin claim
After stating that Bitcoin may reach $10 million “tomorrow” if others shared his perspective, Michael Saylor, executive chairman of Strategy, is under more criticism. The comment is made when his company’s stock price is declining, and it sits on billions in paper losses. Saylor recently made his comments in a video that has generated a lot of online discussion. As time goes on, worries about the disparity between his optimistic predictions and the company’s financial problems, which are evident in its financial records, grow. Volatility defended as market drops continue In the video, Saylor defended Bitcoin’s price swings, saying they work in favor of serious buyers while keeping out casual traders. He called volatility “a gift to the faithful,” explaining that big price drops push away what he termed “tourists” and individuals who don’t want to put in the work to understand the digital currency. He then suggeste d th e only thing holding Bitcoin back from massive gains is that not enough people see things his way. “If people in the rest of the world knew what I know, and they understood and they agreed with me, Bitcoin would go to $10 million tomorrow,” Saylor stated. But he adde d that su ch a rapid climb would actually hurt long-term investors by removing years of chances to buy Bitcoin at cheaper rates. “I want you to think about how you would feel and how your viewers would feel, because you would lose 20 years of stacking opportunity during which you get to buy it for less than $10 million,” he explained. The comments set off a storm on social media. Critics questioned both his reasoning and his state of mind as Bitcoin prices keep falling. Saylor, as one person put it frankly, is “the most insufferable person on the planet right now.” Social media users criticized Saylor’s market predictions | Source: @Hedgeye One person wrote mockingly: “If everyone knew what I knew and agreed with me about the value of something I own, I’d be worth $10 trillion.” Another posted, “Very sad for those that follow him,” drawing parallels to past market bubbles. “At least tulips are beautiful.” Technical concerns concerning Bitcoin itself were voiced by some detractors. One cited problems that Saylor failed to solve, such as “non-competitive energy costs versus AI, halving destroying miner economics, and increasing centralization.” Billions in losses as buying continues The backlash arrives as Strategy deals with mounting money pressures from Bitcoin’s recent slide, though the company keeps buying more. This week, Strategy revealed it bought 855 Bitcoins for about $75.3 million, paying roughly $87,974 for each coin, based on official filings. Strategy now owns 713,502 Bitcoins , purchased for around $54.3 billion at an average price of $76,052 per coin. With Bitcoin trading near $70,800 recently, those holdings are worth approximately $50.5 billion. That leaves the company facing more than $3.7 billion in unrealized losses. Just a few months back in October, Strategy’s Bitcoin stake showed paper profits approaching $33 billion. The company’s stock has taken a significant hit as well. Strategy shares dropped about 3% on Wednesday and fell further after regular trading hours. The stock now sits more than 70% below where it peaked in July 2025. Talk about whether Strategy and Saylor will have to sell has intensified. The worry stems from remarks by Chief Executive Phong Le back in November, when he said the company might have to sell Bitcoin if its shares traded below the worth of what it owns. Saylor himself has delineated a certain boundary that would initiate a possible transaction. According to him, Strategy would consider selling Bitcoin or similar investments only in the event that its net asset value (NAV) fell below 1. According to him, this is the only circumstance that may compel a sale. Right now, Strategy’s NAV stands at 1.14 Sharpen your strategy with mentorship + daily ideas - 30 days free access to our trading program
5 Feb 2026, 15:33
Bears Take Control Over Crypto amid Severe Long Squeeze and Massive ETF Outflows
The crypto market extended its decline, dropping nearly 8%, as a sharp liquidation cascade swept through leveraged positions. The sell-off reflects a broader risk-off move, with crypto showing a 75% correlation with gold, pointing to a macro-driven shift rather than an isolated sector event. What began as a technical breakdown quickly escalated into a forced deleveraging cycle, leaving little room for discretionary buyers to step in. Severe Long Squeeze Triggers Liquidation Cascade The primary driver behind the latest leg down was a severe long squeeze. Over $470 million in Bitcoin long positions were liquidated within 24 hours according to Coinglass data , setting off a domino effect across highly leveraged derivatives markets. The market had become structurally overexposed on the long side. Once Bitcoin broke below key technical levels, forced liquidations accelerated selling pressure, pushing prices lower and triggering additional margin calls. This self-reinforcing dynamic turned what could have been a controlled pullback into a sharp, disorderly move. Such events typically reflect positioning imbalances rather than a sudden change in fundamentals, but they can reshape market structure in the short term. ETF Outflows Add to Liquidity Stress At the same time, institutional flows turned decisively negative. On February 4, U.S. spot Bitcoin ETFs recorded a net outflow of approximately $545 million. These ETFs represent the largest and most regulated on-ramp for institutional capital. Sustained outflows signal reduced risk appetite among larger market participants and remove an important source of spot demand. In the current environment, those withdrawals have compounded the liquidity squeeze created by derivatives liquidations. When leveraged selling coincides with ETF outflows, downside moves tend to be sharper and more persistent. Why Market Context Matters for Crypto Narratives Sharp sell-offs do more than move prices — they reshape attention, sentiment, and media focus. During liquidation-driven declines, coverage tends to concentrate on risk, downside scenarios, and key technical levels. For crypto companies, founders, and infrastructure providers, visibility during these phases depends on relevance and timing rather than volume of exposure. This is where data-driven communications becomes critical. How Outset PR Aligns Messaging with Market Structure Outset PR applies a data-driven methodology designed to align crypto narratives with real-time market conditions. The agency approaches campaigns as adaptive processes, shaping messaging around market momentum instead of relying on static or generic angles. Beyond tracking on-chain activity, Outset PR analyzes media trendlines and traffic distribution using its proprietary Outset Data Pulse intelligence. This allows campaigns to be timed around moments when attention peaks — such as liquidation events, ETF flow shifts, or major technical breaks. A key component of this approach is the agency’s Syndication Map, an internal analytics system that identifies publications most likely to generate secondary distribution across platforms like CoinMarketCap and Binance Square. As a result, campaigns often achieve reach that significantly exceeds their initial placements, even during risk-off environments. By synchronizing messaging with market structure, Outset PR ensures campaigns remain relevant when audiences are most focused on data, risk, and macro signals. Macro Backdrop Reinforces Risk-Off Sentiment Negative macro signals continue to weigh on crypto markets. The strong correlation with gold suggests that investors are repositioning across asset classes rather than reacting to crypto-specific developments. In this context, crypto is behaving less like an isolated growth asset and more like a high-beta expression of broader risk sentiment. Until macro conditions stabilize, rallies are likely to face selling pressure. Key Levels Now in Focus From a technical perspective, Bitcoin is in a clear breakdown phase. $70,000–$72,000 now acts as a critical support and reclaim zone. Failure to regain this range increases the probability of a retest of the $66,000 level. A swift move back above $72,000 would be required to invalidate bearish momentum. However, such a recovery would need support from both spot buying and a reset in derivatives positioning, neither of which is evident yet. Market Structure Shifts Toward Extreme Fear The combination of: a leveraged washout, sustained institutional outflows, and unfavorable macro conditions has pushed the crypto market into extreme fear territory. While liquidation-driven sell-offs can eventually create cleaner positioning, they do not guarantee an immediate reversal. Stabilization is more likely to depend on Bitcoin defending the $70,000 zone and a clear shift in ETF flows back to net inflows. Conclusion Bears have taken control of the crypto market as excessive leverage, institutional withdrawals, and macro pressure converge. The current move is less about narrative shifts and more about structural stress being released. Until key levels are reclaimed and capital flows stabilize, the market remains vulnerable to further downside, with caution favored over premature bottom calls. Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
5 Feb 2026, 15:32
Bitcoin's rising leveraged position points to continued dip buying, but may not yet signal price bottom
Bitfinex margin longs surge to a two-year high as bitcoin falls below $69k.
5 Feb 2026, 15:32
Bhutan Offloads $22M in Bitcoin as Mining Costs Surge: Institutional Eyes Shift to High-Yield L2s
Quick Facts: Bhutan’s $22M Bitcoin liquidation highlights the financial pressure on industrial miners due to rising difficulty and costs. As L1 spot prices face sell pressure, capital is rotating into infrastructure projects that solve Bitcoin’s scalability limits. Bitcoin Hyper uses the Solana Virtual Machine to deliver high-speed, low-cost smart contracts while securing data on Bitcoin L1. $HYPER has raised over $31M so far with smart money positioning heavily in the $HYPER presale. Sovereign volatility is back. On-chain data confirms that a wallet linked to the Royal Government of Bhutan, managed by Druk Holding & Investments, recently deposited 367 $BTC to Binance . That movement, valued at approximately $22M, isn’t an isolated event. It’s a symptom of a brutal squeeze in the mining sector. With Bitcoin’s hash price compressing and operational expenditures (OpEx) for industrial miners climbing, even state-backed entities are liquidating reserves to keep their balance sheets healthy. The market reaction? Mixed. While a $22M sell wall is absorbable in today’s high-volume environment, the signal is undeniably bearish for short-term Layer 1 price action. It highlights the growing tension between network security costs and miner profitability. But smart money rarely sits on its hands. As capital rotates out of stagnant spot positions, sophisticated investors are hunting for yield in the emerging Bitcoin Layer 2 ecosystem, a sector designed to solve the scalability issues currently choking the main chain. This rotation is visible in the flows toward infrastructure projects, unlocking Bitcoin’s dormant capital. Leading the pack is Bitcoin Hyper ($HYPER) , a protocol using the Solana Virtual Machine (SVM) to bring high-speed execution to the Bitcoin network. Bitcoin Hyper ($HYPER) Brings SVM Speeds To The Oldest Blockchain Bitcoin has a utility problem. While it remains the pristine collateral of the crypto world, let’s be honest, it’s sluggish. Transactions crawl, fees spike during congestion, and programmable smart contracts are virtually non-existent on the main chain. Bitcoin Hyper ($HYPER) tackles this by grafting the Solana Virtual Machine (SVM) directly onto the network as a Layer 2 solution. This architecture allows Bitcoin Hyper to process transactions with Solana-grade speeds while anchoring security to Bitcoin’s Layer 1. For developers, this opens the door to building DeFi apps, NFT platforms, and gaming dApps using Rust, all within the Bitcoin ecosystem. Bitcoin Hyper uses a decentralized Canonical Bridge to ensure trustless $BTC transfers, effectively turning static Bitcoin into a productive asset. That matters for adoption. By modifying SPL-compatible tokens for L2 execution, Bitcoin Hyper creates a high-speed payment and DeFi environment that Bitcoin has historically lacked. The protocol operates on a modular framework: Bitcoin L1 handles settlement, while the SVM L2 handles real-time execution. This separation of concerns allows a single trusted sequencer to manage throughput without compromising the underlying security guarantees of the Bitcoin network. LEARN MORE ON THE OFFICIAL $HYPER PRESALE PAGE Whales Accumulate As Smart Money Front-Runs The L2 Narrative While sovereign miners like Bhutan sell to cover costs, a different class of investor is aggressively accumulating early-stage infrastructure. The data surrounding the Bitcoin Hyper presale suggests serious institutional confidence. According to official figures, the project has already raised over $31M. This liquidity injection isn’t just retail money. Etherscan records show that whales are also in on the action, with one wallet scooping up $500K’s worth of $HYPER. This data point, large singular buys rather than thousands of micro-transactions, indicates that high-net-worth individuals are positioning themselves before the token hits public exchanges. With the current token price sitting at $0.0136751 and staking rewards at 68%, these entities are securing positions at a valuation that anticipates major future utility. Our experts also predict $HYPER doing well, possibly making it to $0.32 by the end of 2026. If that happens and you’d invested today, it’s an ROI of 2240% The incentive structure supports the long game, too. Bitcoin Hyper offers high APY staking immediately after the Token Generation Event (TGE). Notably, the protocol enforces a 7-day vesting period for presale stakers. This mechanism (often overlooked by retail flippers) is designed to prevent immediate post-launch dumping, stabilizing the price floor while rewarding those who participate in governance. For investors watching Bhutan sell L1 assets, rotating into a yield-bearing L2 represents a hedge against mining-induced volatility. GET YOUR $HYPER ON ITS OFFICIAL PRESALE PAGE This article is for informational purposes only and does not constitute financial advice. Cryptocurrencies are high-risk assets. The mention of specific dates, such as January 15, 2026, reflects data provided by the project source. Always conduct your own due diligence before investing.
5 Feb 2026, 15:31
Liquidations Top $1.3 Billion as BTC Plummets Below $67K, ETH Loses $2K Support
Bitcoin can’t catch a break in the past several days, marking consecutive multi-month lows, with the latest coming minutes ago at well under $67,000. The last time the cryptocurrency traded at such low levels was in early November, just as the US presidential elections took place and the country elected the so-called ‘crypto president,’ Donald Trump. The past few weeks have been brutal for BTC. It challenged $90,000 just eight days ago, last Wednesday, but the rejection at that level brought unimaginable pain for the market leader and most of the altcoin followers. Bitcoin first dumped to $81,000 last Thursday, then continued south to under $75,000 during the weekend, but the bears kept the pressure on. The past several hours have been violent as well, with BTC plunging to $66,900 (as of press time). This means that the asset has lost well over $20,000 in just over a week. BTCUSD Feb 5. Source TradingView The altcoins have not been spared. ETH continues with its massive decline, with another 9% daily decline to under $2,000 – its lowest level since last April. BNB has plunged by 10% to $660, while XRP is down by a whopping 15% in the past 24 hours alone to $1.32. Further losses are evident from the likes of ZEC (-19%), MORPHO (-14%), NEXO (-14%), XMR (-12%), LEO (-12%), SUI (-11%), and many others. As such, it’s no wonder that over-leveraged traders have been harmed severely. Data from CoinGlass shows that the 24-hour liquidations have rocketed to over $1.3 billion. In the past hour alone, the wrecked positions are up to $350 million. The number of wiped out traders is close to 300,000 daily, with the single-largest position taking place on Aster, which was worth over $11 million. Daily Liquidations Data on CoinGlass: February 5 The post Liquidations Top $1.3 Billion as BTC Plummets Below $67K, ETH Loses $2K Support appeared first on CryptoPotato .
