Crypto didn’t catch much relief on February 6. Prices stayed weak through the day, and traders showed little appetite for risk as new company updates and on-chain data came in.
Corporate Bitcoin Holders Stay the Course Despite Market Pressure
Japanese investment firm Metaplanet reiterated that it isn’t backing away from its Bitcoin-heavy treasury strategy, even as market conditions remain weak. CEO Simon Gerovich said the company still views Bitcoin accumulation as a long-term play, despite recent declines in both BTC prices and Metaplanet’s own stock.
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Metaplanet has built a reputation as one of the more aggressive corporate Bitcoin holders and is now exploring overseas fundraising options to support additional purchases while managing debt. The message was clear: short-term volatility hasn’t changed its broader conviction, even with Bitcoin trading well below its peak.
Pump.fun Pushes Into Trading Infrastructure With Vyper Deal
Pump.fun, best known for its role in the memecoin boom, announced it has acquired trading terminal platform Vyper. The move shows Pump.fun trying to do more than ride memecoin cycles. By bringing Vyper in house, the team is leaning toward building a fuller trading setup rather than relying on short bursts of speculative activity.
Vyper’s standalone platform will be shut down, with users redirected to Pump.fun’s Terminal product. The timing matters. Memecoin volumes have cooled from recent highs, and the acquisition suggests Pump.fun wants to stay relevant even if hype-driven launches slow and traders focus more on execution and tooling.
Bitcoin Whales Continue Cutting Back
On-chain data indicates that large Bitcoin holders have kept trimming their positions. Santiment data shows roughly 81,000 BTC moved out of whale wallets over recent days, pushing their share of supply to the lowest point in about nine months.
The pullback came as Bitcoin slid from near $90,000 toward lower levels. Smaller wallets, meanwhile, have picked up some of that supply. That handoff often shows up during weaker markets, when bigger players reduce risk and retail steps in.
Gold-Backed Tokens Pick Up Interest
As volatility dragged on, some traders shifted part of their attention toward gold-backed tokens such as Tether Gold (XAUT). The appeal is simple. The tokens are tied to physical gold, but they move on-chain instead of through traditional gold markets.
For some market participants, they offer a way to park value during choppy conditions without fully stepping away from crypto. It’s less about a long-term thesis and more about waiting out uncertainty.
What This Means for Crypto Markets
February 6 was another uneven day for crypto. A few corporate Bitcoin holders stuck to their strategies, while on-chain data showed larger wallets continuing to reduce exposure. Trading platforms, meanwhile, kept adjusting as activity shifted across different parts of the market.
Nothing moved in just one direction. Long-term plans are still in place for some players, but caution continues to show up in how capital is being deployed right now.
