PANews reported on February 1st that, according to on-chain analyst Yu Jin, Trend Research withdrew 109.1 million USDT from Binance to repay loans on-chain after the ETH price drop early this morning. This reduced their leveraged ETH purchases from $1.12 billion to $1.01 billion, lowering the leverage ratio from 2.4x to 2.2x. They currently hold a total of 651,500 ETH (approximately $1.83 billion).



Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more