Gate Cryptocurrency News and Market Analysis

Gate News covers crypto market trends, price movements, project developments, and in-depth analysis to help you stay informed with essential crypto insights.
Gate Daily (February 10): Jump Trading acquires equity in Polymarket; MicroStrategy adds 1,142 Bitcoins

Gate Daily (February 10): Jump Trading acquires equity in Polymarket; MicroStrategy adds 1,142 Bitcoins

Bitcoin (BTC) continues its sluggish trend, temporarily trading around $70,050 on February 10. Jump Trading will provide liquidity in exchange for a small stake in Kalshi and Polymarket; such market-making agreements are similar to venture capital arrangements. MicroStrategy increased its holdings by 1,142 Bitcoins last week, and BitMine has accumulated a total of 40,000 ETH.

Bitcoin's year-end target price is 150,000! Bernstein: No large-scale leverage collapse has occurred

Research firm Bernstein maintains its Bitcoin forecast of $150,000 by the end of 2026, stating that the current dip is the least threatening downturn in trading history. The analyst team pointed out that recent weakness stems from a shift in market sentiment rather than a fundamental collapse, and this sell-off has not seen leverage crashes, exchange failures, or systemic vulnerabilities. Institutional support remains solid, with participation from spot ETFs, corporate finance, and mainstream asset management firms unchanged. Miner debt structures are healthy enough to withstand a prolonged downturn.

Why did Bitcoin drop today? Long-term holders sold 245,000 BTC, and the rate cut policy before non-farm payrolls remains uncertain.

Bitcoin reported $70,000 on February 10, and remains in a sluggish trend. Long-term holders' net positions decreased by 245,000 BTC, but the total supply increased from 13.63 million to 13.81 million, indicating reallocation. On February 6, 66,940 BTC flowed into accumulated addresses, reaching the weekly maximum, indicating whale accumulation. The Sharpe ratio of -10 hits a new low, consistent with the late bear market.

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