Market Signal Briefing

On Feb. 6, 2026, bitcoin rebounded 15% from the previous day of just below $60,000 to over $71,000, restoring its $1.4 trillion market cap after a sharp selloff. Liquidation Engine: The Mechanics of the Rebound On Feb.

The MegaETH Foundation will use revenue earned from the protocol's native stablecoin USDM to accumulate MEGA tokens.

TLDR Table of Contents

TLDRTrademark Filings Confirm Polymarket’s Token PlansPolymarket’s Expansion and Token SpeculationGet 3 Free Stock Ebooks Blockratize Inc., the parent company of Polymarket, has filed trademark applications for the terms “POLY” and “$POLY.” The trademark filings cover various services, including digital token and cryptocurrency trading, as well as platform-as-a-service offerings. Both trademark applications were filed on February 4 and are currently listed as “live” and “pending” by the U.S. Patent and Trademark Office. The filings were submitted on an “intent to use” basis, meaning the marks are not yet in active commercial use. Polymarket executives have previously confirmed plans to launch a native POLY token alongside an airdrop, but no official launch timeline has been provided. Blockratize Inc., the parent company of the crypto-powered prediction platform Polymarket, has filed trademark applications in the U.S. for “POLY”. These filings, made on February 4, signal the company’s ongoing plans to launch a native token. The applications are currently listed as “live” and “pending,” suggesting the project is moving forward.

The trademark filings span multiple classes, covering digital token services, cryptocurrency trading, and platform-as-a-service offerings. This move aligns with previous statements from Polymarket executives about the potential launch of a native token, adding a formal legal step to their plans. While the filings don’t specify a timeline, they confirm ongoing preparations for the launch of the POLY token.

Trademark Filings Confirm Polymarket’s Token Plans Polymarket’s trademark applications cover a range of services, including downloadable software for cryptocurrency trading and financial services. These filings have been submitted on an “intent to use” basis, meaning they are not yet in active commercial use. The company has also applied for digital token and cryptocurrency services as part of its broader market strategy.

While the trademark filings do not mention specific dates or mechanics, they do reinforce earlier statements from Polymarket executives. In October, Polymarket’s Chief Marketing Officer, Matthew Modabber, confirmed the company’s plans for the POLY token launch. Founder Shayne Coplan also teased the token’s release, with both executives noting that the U.S. app’s relaunch would take precedence over the token rollout.

Polymarket’s Expansion and Token Speculation Polymarket has become one of the largest global venues for prediction markets, with $7.7 billion in trading volume last month. This growth has spurred anticipation for the POLY token, particularly as speculation around the launch continues to build. With the increasing popularity of prediction markets in politics, sports, and macro events, the token launch has captured the attention of the broader cryptocurrency community.

The company has secured significant investments, including a $2 billion deal with the Intercontinental Exchange, parent of the New York Stock Exchange. Polymarket has also formed strategic partnerships with major names like Google Finance, Yahoo Finance, DraftKings, and the National Hockey League.

Ethereum co-founder Vitalik Buterin and other prominent “whales” have offloaded millions of dollars in ETH since the beginning of February, adding narrative fuel to a market rout that saw the world's second-largest cryptocurrency tumble below $2,000.

While the high-profile sales by Buterin served as a psychological trigger for retail panic, a closer examination of market data suggests that the primary pressure came from a systemic unwind of leverage and record-breaking selling activity across the network.

Nonetheless, these disposals, combined with significant selling by other industry insiders, have prompted investors to question whether project leaders are losing confidence or simply managing operational runways amid extreme volatility.

Why is Buterin selling his Ethereum holdings?In the past 3 days, Buterin sold 6,183 ETH ($13.24M) at an average price of $2,140, according to blockchain analysis platform Lookonchain.

Vitalik Buterin ETH Sales (Source: Lookonchain)However, the specifics of Buterin’s transactions reveal a calculated, rather than panic-driven, strategy.

Notably, Buterin publicly disclosed that he had set aside 16,384 ETH, valued at approximately $43- $45 million at the time, to be deployed over the coming years.

He stated the funds are earmarked for open-source security, privacy technology, and broader public-good infrastructure as the Ethereum Foundation enters what he described as a period of “mild austerity.”

In this light, the most defensible explanation for “why he sold” is mundane. It appears to be the conversion of a pre-allocated ETH budget into spendable runway (stablecoins) for a multi-year funding plan rather than a sudden attempt to time the market top.

However, the channel through which these sales affect the market is more narrative-driven than liquidity-based. When investors see founder wallets active on the sell side during a downturn, it tilts sentiment and deepens the bearish resolve of an already shaky market.

Still, Buterin remains an ETH whale, holding over 224,105 ETH, which is equivalent to approximately $430 million.

Did Buterin's ETH sales precipitate a market crash?The central question for investors is whether Buterin’s selling mechanically pushed ETH below $2,000.

From a structural perspective, it is difficult to argue that Buterin's $13.24 million sell program, by itself, breaks a major market level, given ETH's multi-billion-dollar daily trading volume.

So, a sell order of this magnitude is small relative to typical turnover and lacks the volume required to consume order book depth and drive prices down significantly on its own.

However, Buterin was not selling in a vacuum. He was part of a broader exodus of large holders that collectively weighed on the market.

On-chain trackers flagged significant activity from Stani Kulechov, the founder of the DeFi protocol Aave. Kulechov sold 4,503 Ethereum (valued at about $8.36 million) at a price of around $1,857 just hours before ETH's slide accelerated.

This activity is symptomatic of a broader trend. Data from CryptoQuant shows that the network has faced record selling activity this month.

Ethereum Spot Average Order Size (Source: CryptoQuant)The analytics firm noted that the network had seen an increase in large whale order sizes during the downturn, suggesting that high-net-worth individuals and entities were actively de-risking into the liquidity provided by the drop.

Ethereum Taker Volume (Source: CryptoQuant)While a single whale cannot crash the market, a synchronized exit by industry leaders can create a self-fulfilling prophecy.

When liquidity is thin and leverage is stretched, these “headline flows” signal to the broader market that “smart money” is de-risking, prompting smaller traders to follow suit in a bid to preserve capital.

The real drivers behind ETH's crashWhile the narrative focused on founder wallets, the bulk of the crash was driven by three distinct market forces: leverage unwinding, ETF outflows, and macroeconomic headwinds.

Data from Coinglass indicated hundreds of millions of dollars in ETH liquidations over 24 hours during the worst of the move, with long liquidations dominating.

This created classic cascading conditions in which price declines trigger forced sales from overleveraged positions, which in turn trigger further declines and additional forced selling.

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Simultaneously, institutional support evaporated. US spot ETH ETFs have recorded about $2.5 billion of net outflows over the past four months, according to SoSo Value data.

This occurred alongside much larger outflows from Bitcoin ETFs. This represents the kind of institutional de-risking that matters more than any one wallet when the market is already sliding.

Compounding these crypto-specific issues is the macroeconomic backdrop.

Reuters tied the broader crypto drawdown to a cross-asset selloff and tighter liquidity fears. The crypto market has shed about $2 trillion from its peak in October 2025, with roughly $800 billion wiped out in the last month alone, as investors reduced risk and leveraged positions unwound.

Indicators to watchAs the market attempts to find a floor, three indicators will matter more than any whale alert.

First is liquidation intensity. If forced liquidations remain elevated, ETH can continue to “gap” lower even without additional discretionary selling.

A decline in liquidation totals alongside stabilization is often the first sign the cascade has burned out, according to Phemex analysts.

Second is the ETF flows regime. One day of outflows is noise, but a multi-week streak changes the marginal buyer. ETH's near-term path depends heavily on whether institutional flows stabilize or continue to bleed into broader risk-off behavior.

Finally, investors should watch exchange inflows and large-holder behavior.

Founder wallets are visible, but the more telling indicator is whether large holders increase deposits at exchanges (distribution) or whether coins move into cold storage and staking (accumulation). When those signals flip, the market usually follows.

The bottom line remains that Vitalik Buterin’s sales are best understood as the execution of a pre-announced funding plan tied to public goods and open-source spending, not as a sudden loss of faith.

But in a collapse driven by leverage liquidations, ETF outflows, and macro risk-off, even “small” founder sales can have disproportionate effects.

They do so not by supplying enough ETH to break $2,000, but by adding narrative fuel to a market already searching for a reason to sell first and ask questions later.

Mentioned in this articlePosted in

CANADA - 2025/09/15: In this photo illustration, the IonQ logo is seen displayed on a smartphone screen. (Photo Illustration by Thomas Fuller/SOPA Images/LightRocket via Getty Images)

SOPA Images/LightRocket via Getty Images

IonQ (IONQ), a dedicated quantum computing firm, dropped -14% on significant volume. The trigger was a critical short-seller report from Wolfpack Research alleging the loss of essential defense contracts and “gaps” in revenue. This drastic shift, marking the sixth straight day of declines, erased a considerable portion of its market capitalization. With earnings around the corner on February 25th, is this a legitimate fundamental threat or an orchestrated panic meant to provoke a liquidity event?

The main reason for the steep decline was a recently released short report that introduced a notably negative narrative shift. There were no press releases or operational updates from the company to counter the allegations.

Wolfpack Research claims that significant defense contracts were cut from the 2026 budget.The report asserts that up to 86% of revenue from 2022-2024 was derived from these now-abandoned contracts.IonQ has publicly contested these assertions, but the report has induced considerable uncertainty.In a separate development, a law firm has announced an inquiry into potential securities fraud allegations.However, here's the intriguing aspect. You are reading about this -14% decline after it has already occurred. The market has factored in this news. To preempt the next underperformer before it hits the headlines, you require predictive signals, not mere notifications. High Quality Portfolio is equipped with a risk model aimed at minimizing exposure to losers.

A Narrative Shock, Not a Confirmed BreakdownWhile the short report introduces a sharp narrative shift, the claims themselves appear more interpretive than conclusive at this stage. The allegation that defense contracts were “cut” is based on changes in budget disclosures rather than confirmed contract terminations, and there is no independent evidence yet that IonQ’s backlog or active programs have been materially impaired. The assertion that the majority of recent revenue depended on now-abandoned contracts also overstates concentration risk by conflating government research funding with broader commercial and cloud-based partnerships. That said, the lack of immediate, detailed clarification from IonQ has allowed uncertainty to dominate the tape.

For the stock, this creates a near-term credibility overhang rather than a proven fundamental break. Until earnings provide transparency on revenue mix, backlog, and forward demand, shares are likely to remain volatile, but the selloff reflects a confidence shock more than confirmation that IonQ’s long-term thesis is broken.

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Trade Mechanics and Money FlowTrade Mechanics: What Transpired?The mechanics behind the move indicate a sell-off driven by panic. The stock experienced a significant surge in volume as the short report spread, indicating a rush to exit.

The stock closed at $30.37, down -14.1%.It is currently 64% below its 52-week high of $84.64 and 70% above its 52-week low of $17.88.Trading volume skyrocketed to 31.86 million shares, representing a 48% rise from the typical daily average.Options data indicate a volatility skew where the implied volatility for calls is higher than that for puts, suggesting some traders are anticipating a rebound.How Is The Money Moving?The signature of this move appears to combine retail panic with opportunistic short-selling. The high trading volume and sharp, headline-driven decline are typical of retail capitulation. However, the options activity suggests more sophisticated traders are positioning for a potential rebound.

The intense selling following the release of the public short report indicates retail investors responding to the news.The stock fell below the psychological $35 threshold, likely triggering stop-loss orders.Despite the decline, some options traders are creating bullish call spreads, indicating a belief that the sell-off is excessive.Institutional ownership continues to be substantial, which could create a support level for the stock.Understanding trade mechanics, money flow, and price behavior can provide you with an advantage. See more.

Want to ensure you never miss the explainer on IONQ’s next movement? Stay informed with Upcoming Events and Latest Analyses

What Lies Ahead?FOLLOW. The short report has created a situation characterized by high risk and potential reward. While the allegations are serious, the extreme nature of the sell-off suggests a chance for an equally sharp recovery if the company can convincingly refute the claims during its upcoming earnings call. The critical level to monitor is $28.50, the intraday low. Successfully maintaining this level could indicate a capitulation bottom and trigger a squeeze of short-sellers. Conversely, a break below could signify that the market is accepting the validity of the report, leading to additional downside.

That concludes this update for now, but there is much more involved in assessing a stock from a long-term investment viewpoint. We simplify this process with our Investment Highlights

If you’re uncomfortable with IONQ stock, consider PORTFOLIOS as an alternative.

The Right Way To Invest Is Through PortfoliosStocks rise and fall – the key is to stay invested. A well-balanced portfolio helps you navigate market volatility, enhances gains and mitigates single-stock risk.

The Trefis High Quality (HQ) Portfolio, composed of 30 stocks, has a proven history of consistently surpassing its benchmark, which includes all three indices – the S&P 500, S&P mid-cap, and Russell 2000. Why is this? Collectively, HQ Portfolio stocks have delivered superior returns with lower risk compared to the benchmark index; less volatility can be observed in HQ Portfolio performance metrics.

Taylor Devices, Inc. (TAYD - Free Report) shares have surged 74.4% in the past six months compared with the industry’s 17% growth. The company has outperformed other industry players, including Nordson Corporation (NDSN - Free Report) and RBC Bearings Incorporated (RBC - Free Report) . Shares of NDSN and RBC have posted increases of 33.9% and 28.7%, respectively, in the same time frame. TAYD thrives on booming U.S. sales, defense demand, and high-margin projects, boosting profitability, cash flow visibility and resilience through a strong, debt-free balance sheet.

Image Source: Zacks Investment Research

A Key Look Into TAYD’s Business OperationsTaylor Devices is a New York-based company engaged in the design, development, manufacture, and marketing of shock absorption, rate control, and energy storage devices. It offers a range of similar products tailored for various applications, particularly in structural, industrial, aerospace and defense sectors. These include items like seismic dampers, compact shock absorbers, buffers, vibration dampers, and custom components. Sales are conducted via an internal technical sales force in the United States and through non-exclusive international representatives. The company operates in competitive markets, particularly for industrial and structural applications, and faces both direct and technological competition. It sources materials from diverse suppliers, minimizing dependency on any single source.

Taylor Devices’ Key TailwindsTaylor Devices has experienced a significant rise in U.S. sales, which accounted for 88% of total revenue during the first half of fiscal 2026, up from 82% the previous year. This 15% domestic sales growth demonstrates robust demand across core markets like aerospace, defense, and structural engineering within the United States. The increased focus on infrastructure resilience and defense modernization has likely created a favorable backdrop for the company's precision motion control products. This domestic momentum offers a stable and growing revenue base that can insulate the company from international volatility.

A notable tailwind for Taylor Devices is the shift in its revenue mix toward non-long-term, higher-margin projects, which saw a 34% year-over-year increase in sales during the six-month period. This trend significantly contributed to the company's 46% gross margin. The transition enhances cash flow visibility and allows the company to react swiftly to changing customer demands. By reducing dependency on complex, long-cycle contracts, Taylor Devices improves earnings predictability and frees up production capacity for more profitable, quick-turnaround orders.

Sales to the aerospace and defense segment climbed to 61% of total revenues in the second quarter, up from 59% a year earlier. This strategic concentration offers a long-term tailwind as global geopolitical tensions and defense budgets rise. Taylor Devices' specialized products, such as shock isolation systems and energy-damping solutions, are increasingly sought in mission-critical applications. With strong barriers to entry and rigorous performance standards in defense contracting, the company benefits from sustained demand and limited competition in this niche, high-growth sector.

The company’s balance sheet strength, with nearly $39 million in short-term investments and $2 million in cash, positions it favorably for strategic investments and navigating economic cycles. Its sizable holdings in U.S. treasuries and corporate bonds are also generating consistent interest income, which rose 18% year over year. This additional stream of income supports profitability even during periods of operational fluctuation. Moreover, the company’s ability to self-fund capital expenditures — like the $1.5 million spent this half-year — ensures it can pursue growth initiatives without reliance on external debt.

Challenges Persist for TAYD’s BusinessTaylor Devices faces several operational headwinds that may impact its future performance. These include reduced demand for long-term projects, as evidenced by a 9% year-over-year decline in revenue from such contracts, and a drop in total sales backlog, indicating potential revenue softness ahead. International sales dropped 32% in the six-month period, largely due to normal variability in structural project activity, which has led to a disproportionate reliance on U.S. markets. Additionally, rising research and development expenses (up 72% YoY) have compressed margins, while inventory turnover declined, signaling potential inefficiencies.

Taylor Devices’ ValuationFrom a valuation perspective, Taylor Devices appears relatively expensive. Currently, TAYD is trading at 4.35X trailing 12-month EV/sales value, above the industry’s average of 4.13X. Yet, the metric remains lower than the company’s peers, including Nordson (6.25X) and RBC Bearings (9.52X).

Image Source: Zacks Investment Research

ConclusionTaylor Devices presents a compelling niche-growth story with strong fundamentals and exposure to long-term secular trends in defense and infrastructure. However, careful monitoring of backlog trends, cost structure, and international diversification is warranted to ensure sustainable performance.

Also, its valuation is higher than the industry average. For long-term investors, TAYD’s strong fundamentals may justify holding the stock, but investors looking to add the stock to their portfolios may want to wait for a better entry point. 

Key Takeaways HP reported a 15-cent adjusted loss in Q1 versus expectations, swinging sharply from a year-ago profit.HP's revenues topped estimates as Drilling Services sales jumped 50.2% Y/Y to $1B.HP took a $103M impairment, returned $25M to shareholders and repaid $260M of debt. Helmerich & Payne, Inc. (HP - Free Report) reported a first-quarter fiscal 2026 adjusted net loss of 15 cents per share, which substantially missed the Zacks Consensus Estimate of adjusted net income of 12 cents.  Moreover, the bottom line decreased considerably from the year-ago quarter’s reported profit of 71 cents. This was due to a weakness in the company's North America Solutions segment, along with the impact of a non-cash impairment charge of $103 million.

Operating revenues of $1 billion beat the Zacks Consensus Estimate of $986 million. Sales from Drilling Services beat the consensus mark by 4.3%. Moreover, the figure increased 50.2% from the year-ago quarter’s level. This was primarily led by stronger-than-expected margin performance in international solutions, driven by lower-than-expected reactivation costs in Saudi.

The company distributed approximately $25 million to its shareholders as part of its ongoing dividend program.

As of the end of January, HP repaid $260 million on its existing $400 million term loan. The company now expects to repay the entire term loan by the end of the third quarter of fiscal 2026.

HP’s Q1 Segmental PerformanceNorth America Solutions: Operating revenues of $563.9 million were down 5.7% year over year, with 143 average active rigs. The top line beat our projection of $555 million.

Operating profit totaled $36.2 million compared with $152.2 million in the prior-year period. The significant decrease was due to a one-time impairment of $98 million. The reported figure also missed our estimate of $123 million.

International Solutions: Operating revenues of $234.3 million increased 393.4% from the year-ago quarter’s level of $47.5 million. Moreover, the top line beat our projection of $231 million.

Operating loss reached $55.3 million, compared unfavorably with the prior-year period loss of $14.5 million. The figure was below our projected loss of $63 million.

Offshore Solutions: Revenues of $188.3 million increased 554.6% from the year-ago quarter’s level of $29.2 million. The top line beat our projection of $180 million.

Operating profit totaled $16.4 million compared with $3.5 million in the year-ago quarter.  The figure missed our estimate of $20.3 million.

HP’s Financial Position

In the reported quarter, this Zacks Rank #3 (Hold) company spent $67.6 million on capital programs. As of Dec. 31, 2025, HP had $247.2 million in cash and cash equivalents, while the long-term debt totaled $2 billion (debt-to-capitalization of 42.8%).

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

HP’s Guidance for Q2 & FY26Operating guidance for the second quarter of fiscal 2026 reflects the segment-wise expectations of the company. The North America Solutions is projected to deliver direct margins between $205 million and $230 million, supported by an average rig count of approximately 132 to 138. International Solutions is expected to generate direct margins in the range of $12 million to $22 million, with an average rig count of roughly 57 to 63. Offshore Solutions are forecast to contribute direct margins between $20 million and $30 million, based on average management contracts and contracted platform rigs of approximately 30 to 35. Other operations of the company are expected to add incremental direct margin ranging from $3 million to $8 million.

For fiscal 2026, depreciation is now expected to total approximately $700 million, while research and development expenses are projected to remain around $25 million. General and administrative expenses are anticipated to fall within a range of $265 million to $285 million, cash taxes payable are expected to be approximately $95 million to $145 million, and interest expense is forecast at roughly $100 million.

Important Earnings at a GlanceWhile we have discussed HP’s first-quarter results in detail, let us take a look at three other key reports in this space.

Suncor Energy Inc. (SU - Free Report) reported fourth-quarter 2025 adjusted operating earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 77 cents. This outperformance can be attributed to strong production growth in its upstream segment. However, the bottom line declined from the year-ago quarter’s reported figure of 89 cents due to lower upstream price realizations.

Suncor Energy’s operating revenues of $8.8 billion beat the Zacks Consensus Estimate by 4%, primarily driven by increased sales volumes in both the upstream and downstream segments. However, the top line decreased approximately 1.3% year over year.

As of Dec. 31, 2025, SU had cash and cash equivalents of C$3.65 billion and long-term debt of C$9 billion. Its debt-to-capitalization was 16.7%.

Patterson-UTI Energy, Inc. (PTEN - Free Report) reported a fourth-quarter 2025 adjusted net loss of 2 cents per share, narrower than the Zacks Consensus Estimate of an 11-cent loss, and an improvement from the year-ago quarter's loss of 12 cents. The better-than-expected performance was primarily backed by improvement in the company’s Completions Services segment and a reduction in operating costs and expenses.

PTEN’s total revenues of $1.2 billion beat the Zacks Consensus Estimate by 5%. This was driven by higher-than-expected revenues from Completion Services. The Completion Services segment reported revenues of $701.6 million, which beat the consensus mark of $647 million. However, the top line decreased about 1% year over year. This underperformance can be attributed to the decrease in year-over-year revenue contribution from the Drilling Services, Drilling Products and Other Services segments.

As of Dec. 31, 2025, Patterson-UTI Energy had cash and cash equivalents worth $420.6 million and long-term debt of $1.2 billion. Its debt-to-capitalization was 27.5%.

Another oil field service company, Liberty Energy Inc. (LBRT - Free Report) , reported a fourth-quarter 2025 adjusted net profit of 5 cents per share, beating the Zacks Consensus Estimate of a loss of 16 cents by a considerable margin. The outperformance was driven by the company’s focus on technological innovation and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 10 cents.

LBRT's revenues totaled $1 billion, which beat the Zacks Consensus Estimate of $862 million. The top line also increased from the prior-year quarter’s $944 million by 10%, driven by higher activity levels that meaningfully exceeded the industry.

As of Dec. 31, Liberty Energy had approximately $28 million in cash and cash equivalents. The pressure pumper’s long-term debt of $241.5 million represented a debt-to-capitalization of 10.4%.

Orange Belgium S.A. (MBISF) Q4 2025 Earnings Call February 6, 2026 4:00 AM EST

Company Participants

Koen Van Mol - Head of Investor Relations
Xavier Pichon - CEO & Executive Director
Antoine Chouc - Chief Financial Officer

Conference Call Participants

David Vagman - ING Groep N.V., Research Division

Presentation

Operator

Hello, and welcome to the Orange Fiscal Year 2025 Financial Results Conference Call hosted today by Koen Van Mol, Xavier Pichon and Antoine Chouc. Please bear in mind, this call is being recorded. [Operator Instructions]. I will now hand you over to your host, Koen Van Mol, to begin today's conference. Thank you.

Koen Van Mol
Head of Investor Relations

Thank you, operator. Good morning, everyone, and welcome to Orange Belgium H2 2025 Earnings Call. My name is Koen Van Mol. And with me today are Xavier Pichon, our CEO; and Antoine Chouc, our CFO. They will walk us through the company's performance as well as the strategic initiatives for the second half and full year of 2025. After the presentations, we will be open -- we will open the floor for questions. And now I will pass the floor to Xavier.

Xavier Pichon
CEO & Executive Director

Thanks, Koen. Good morning, everyone. Thank you for joining us today as we present Orange Belgium's financial results for the second half and the full year of 2025.

So as we look back at the second semester and full year of '25, I'm pleased to report that we are on track with our Lead the Future strategy. We made significant progress across key areas, including network leadership, digital transformation and customer experience.

Let me start with some key highlights. At the start of the second semester, we signed an MoU with Proximus to access each other's infrastructure and improve access to gigabit networks in

CNO Financial Group, Inc. (CNO) Q4 2025 Earnings Call Transcript

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Fabrinet (FN - Free Report) is on the list of such stocks currently recommended by our proprietary system. In addition to a favorable Growth Score, it carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this company that assembles optical, electro-mechanical and electronic devices for other companies is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for Fabrinet is 23.7%, investors should actually focus on the projected growth. The company's EPS is expected to grow 33.6% this year, crushing the industry average, which calls for EPS growth of 23.9%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for Fabrinet is 12.6%, which is higher than many of its peers. In fact, the rate compares to the industry average of -5.3%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 20.6% over the past 3-5 years versus the industry average of 5.2%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for Fabrinet. The Zacks Consensus Estimate for the current year has surged 2.5% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made Fabrinet a Zacks Rank #1 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions Fabrinet well for outperformance, so growth investors may want to bet on it.

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. However, it isn't easy to find a great growth stock.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

APi (APG - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Research shows that stocks carrying the best growth features consistently beat the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

Here are three of the most important factors that make the stock of this company a great growth pick right now.

Earnings GrowthEarnings growth is arguably the most important factor, as stocks exhibiting exceptionally surging profit levels tend to attract the attention of most investors. And for growth investors, double-digit earnings growth is definitely preferable, and often an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for APi is 14.9%, investors should actually focus on the projected growth. The company's EPS is expected to grow 14.7% this year, crushing the industry average, which calls for EPS growth of 9.2%.

Cash Flow GrowthCash is the lifeblood of any business, but higher-than-average cash flow growth is more beneficial and important for growth-oriented companies than for mature companies. That's because, high cash accumulation enables these companies to undertake new projects without raising expensive outside funds.

Right now, year-over-year cash flow growth for APi is 120.9%, which is higher than many of its peers. In fact, the rate compares to the industry average of 1.4%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 76.5% over the past 3-5 years versus the industry average of 7.1%.

Promising Earnings Estimate RevisionsBeyond the metrics outlined above, investors should consider the trend in earnings estimate revisions. A positive trend is a plus here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for APi. The Zacks Consensus Estimate for the current year has surged 0.2% over the past month.

Bottom LineAPi has not only earned a Growth Score of A based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that APi is a potential outperformer and a solid choice for growth investors.

Growth investors focus on stocks that are seeing above-average financial growth, as this feature helps these securities garner the market's attention and deliver solid returns. But finding a growth stock that can live up to its true potential can be a tough task.

In addition to volatility, these stocks carry above-average risk by their very nature. Also, one could end up losing from a stock whose growth story is actually over or nearing its end.

However, the task of finding cutting-edge growth stocks is made easy with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Our proprietary system currently recommends Patria Investments (PAX - Free Report) as one such stock. This company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And for stocks that have a combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy), returns are even better.

While there are numerous reasons why the stock of this private-market investment firm is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for Patria Investments is 8.8%, investors should actually focus on the projected growth. The company's EPS is expected to grow 21.7% this year, crushing the industry average, which calls for EPS growth of 12.3%.

Impressive Asset Utilization RatioGrowth investors often overlook asset utilization ratio, also known as sales-to-total-assets (S/TA) ratio, but it is an important feature of a real growth stock. This metric shows how efficiently a firm is utilizing its assets to generate sales.

Right now, Patria Investments has an S/TA ratio of 0.28, which means that the company gets $0.28 in sales for each dollar in assets. Comparing this to the industry average of 0.23, it can be said that the company is more efficient.

While the level of efficiency in generating sales matters a lot, so does the sales growth of a company. And Patria Investments looks attractive from a sales growth perspective as well. The company's sales are expected to grow 14.7% this year versus the industry average of 7.9%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

The current-year earnings estimates for Patria Investments have been revising upward. The Zacks Consensus Estimate for the current year has surged 1.6% over the past month.

Bottom LinePatria Investments has not only earned a Growth Score of B based on a number of factors, including the ones discussed above, but it also carries a Zacks Rank #2 because of the positive earnings estimate revisions.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination positions Patria Investments well for outperformance, so growth investors may want to bet on it.

Investors seek growth stocks to capitalize on above-average growth in financials that help these securities grab the market's attention and produce exceptional returns. But finding a great growth stock is not easy at all.

By their very nature, these stocks carry above-average risk and volatility. Moreover, if a company's growth story is over or nearing its end, betting on it could lead to significant loss.

However, it's pretty easy to find cutting-edge growth stocks with the help of the Zacks Growth Style Score (part of the Zacks Style Scores system), which looks beyond the traditional growth attributes to analyze a company's real growth prospects.

Phibro Animal Health (PAHC - Free Report) is one such stock that our proprietary system currently recommends. The company not only has a favorable Growth Score, but also carries a top Zacks Rank.

Studies have shown that stocks with the best growth features consistently outperform the market. And returns are even better for stocks that possess the combination of a Growth Score of A or B and a Zacks Rank #1 (Strong Buy) or 2 (Buy).

While there are numerous reasons why the stock of this maker of animal health products and nutritional supplements is a great growth pick right now, we have highlighted three of the most important factors below:

Earnings GrowthArguably nothing is more important than earnings growth, as surging profit levels is what most investors are after. For growth investors, double-digit earnings growth is highly preferable, as it is often perceived as an indication of strong prospects (and stock price gains) for the company under consideration.

While the historical EPS growth rate for Phibro is 10.7%, investors should actually focus on the projected growth. The company's EPS is expected to grow 35.3% this year, crushing the industry average, which calls for EPS growth of 21.7%.

Cash Flow GrowthWhile cash is the lifeblood of any business, higher-than-average cash flow growth is more important and beneficial for growth-oriented companies than for mature companies. That's because, growth in cash flow enables these companies to expand their businesses without depending on expensive outside funds.

Right now, year-over-year cash flow growth for Phibro is 54.8%, which is higher than many of its peers. In fact, the rate compares to the industry average of 3.1%.

While investors should actually consider the current cash flow growth, it's worth taking a look at the historical rate too for putting the current reading into proper perspective. The company's annualized cash flow growth rate has been 11.5% over the past 3-5 years versus the industry average of 8.9%.

Promising Earnings Estimate RevisionsSuperiority of a stock in terms of the metrics outlined above can be further validated by looking at the trend in earnings estimate revisions. A positive trend is of course favorable here. Empirical research shows that there is a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

There have been upward revisions in current-year earnings estimates for Phibro. The Zacks Consensus Estimate for the current year has surged 10.4% over the past month.

Bottom LineWhile the overall earnings estimate revisions have made Phibro a Zacks Rank #2 stock, it has earned itself a Growth Score of B based on a number of factors, including the ones discussed above.

You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

This combination indicates that Phibro is a potential outperformer and a solid choice for growth investors.

Key Takeaways NOV posted Q4 EPS of 2 cents, falling sharply year over year on weaker Energy Products results.NOV's revenues hit $2.3B, beating estimates as Energy Equipment benefited from strong backlog execution.NOV returned $112M to shareholders via buybacks and dividends while forecasting softer near-term conditions. NOV Inc. (NOV - Free Report) reported fourth-quarter 2025 adjusted earnings of 2 cents per share, which missed the Zacks Consensus Estimate of 25 cents. The bottom line also decreased significantly from the year-ago quarter’s 41 cents due to the underperformance of the Energy Products and Services segment.

The oil and gas equipment and services company’s total revenues of $2.3 billion beat the Zacks Consensus Estimate by 4.9%, driven by stronger-than-expected revenues from the Energy Equipment segment, which was backed by strong execution on backlog. However, revenues fell 1.3% from the year-ago quarter’s figure due to a decline in global drilling activity of 6%.

In the fourth quarter, NOV repurchased approximately 5.7 million shares of common stock for a total of $85 million. The company paid a regular dividend of 7.5 cents per share, returning $27 million in dividends, resulting in a total of $112 million in capital to its shareholders during the quarter.

Segmental Performances of NOVEnergy Products and Services: The unit reported fourth-quarter revenues of $989 million, which beat our estimate of $963 million. However, the figure decreased from the prior-year quarter’s reported number by 6.7% due to reduced global activity. Adjusted EBITDA of $140 million beat our estimate of $132 million but decreased from $173 million in the corresponding period of 2024.

Energy Equipment: Revenues in this segment increased 3.6% year over year to $1.3 billion, beating our estimation by 6.9%, driven by strong execution on backlog.

Adjusted EBITDA of $180 million decreased from the year-earlier quarter’s $185 million. However, the metric beat our estimate of $173 million.

In the fourth quarter of 2025, the segment registered $532 million in new orders. Shipments from the backlog amounted to $728 million, resulting in a book-to-bill ratio of 73.

As of Dec. 31, 2025, the backlog for Energy Equipment capital orders was $4.3 billion, reflecting a $93 million decrease from the prior year.

NOV’s Balance SheetAs of Dec. 31, 2025, the company had cash and cash equivalents of $1.6 billion and long-term debt of $1.7 billion with a debt-to-capitalization of 21.1%. NOV had $1.5 billion available on its primary revolving credit facility during the same time.

This Zacks Rank #3 (Hold) company generated $573 million in operating cash flow and $472 million in free cash flow in this quarter.

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

NOV’s Significant & Strategic AdvancementsNOV made meaningful strategic progress through technology commercialization, contract wins and expanded digital capabilities across energy markets. Downhole Broadband Solutions™ achieved record deployment, drilling over 750,000 feet in 2025, reflecting the rising adoption of real-time data to enhance drilling and completion efficiency. Automation and AI-driven systems, including NOVOS™, Kaizen™ and SoftSpeed™, delivered material offshore performance gains, cutting drilling days by 68% in their first Middle East deployment.

NOV also strengthened its offshore footprint with major rig equipment awards, cable-lay systems supporting offshore wind and advanced BOP-related technologies such as Rapid EDS™, improving well control safety and operational windows. In production and processing, the company secured gas dehydration projects in the Middle East, corrosion-resistant composite piping contracts for FPSOs and onshore assets and water injection solutions in Iraq. New ESCHP pump deployments demonstrated significantly longer run life in high gas environments, validating innovation in artificial lift. Additionally, NOV increased recurring digital revenues through multi-year global fleet contracts for RigSense™ and WellData™ platforms, reinforcing its data-driven service strategy.

NOV’s Q1 & 2026 OutlookNOV projects a 1% to 3% decrease in consolidated revenues year over year for the first quarter of 2026, with adjusted EBITDA anticipated to range from $200 million to $225 million.

The company anticipates EBITDA-to-free-cash-flow conversion to moderate to 40%-50% in 2026. Capital expenditures are forecast in the range of $315 million to $345 million. A higher mix of foreign earnings is expected to increase the effective tax rate to approximately 34%-36%. The company maintains a constructive outlook on bookings, with the full-year 2026 book-to-bill ratio expected to be close to 100%.

For the first quarter, the Energy Equipment segment revenues are expected to rise 3%-5% year over year, with EBITDA of $145 million to $165 million. In contrast, the Energy Products and Services segment is expected to see a seasonal decline in the first quarter of 2026, with revenues down 6%-8% year over year and EBITDA in the range of $105 million to $125 million.

Cost-reduction initiatives focused on structural savings, process standardization and simplification, and system upgrades are expected to generate more than $100 million in annualized savings by the end of 2026.

Looking ahead, NOV expects that global industry spending and drilling activity will edge lower year over year, with U.S. activity declining by mid-single digits. Over the medium term, U.S. short-cycle activity is expected to remain highly price sensitive, allowing for a modest recovery by late 2026 and early 2027. Any rebound would likely drive outsized demand for capital equipment, presenting an attractive opportunity for NOV.

Over the longer term, U.S. activity is expected to grow modestly but steadily to sustain production as unconventional basins mature. In international markets, activity in 2026 is projected to be flat to slightly higher, supported by rig reactivations in Saudi Arabia and expanding unconventional development, with Venezuela offering longer-term upside. In offshore markets, offshore wind prospects have weakened, with turbine additions through 2030 down over 35%, limiting near-term visibility and keeping 2026 demand near 2025 levels. Offshore production and drilling equipment spending is expected to decline low- to mid-single digits in 2026, though FPSO demand remains solid, with up to 10 FIDs possible in 2026 and an average of eight annually through 2030.

Important Earnings at a GlanceWhile we have discussed NOV’s fourth-quarter results in detail, let us take a look at three other key reports in this space.

Suncor Energy Inc. (SU - Free Report) reported fourth-quarter 2025 adjusted operating earnings of 79 cents per share, which beat the Zacks Consensus Estimate of 77 cents. This outperformance can be attributed to strong production growth in its upstream segment. However, the bottom line declined from the year-ago quarter’s reported figure of 89 cents due to lower upstream price realizations.

Suncor Energy’s operating revenues of $8.8 billion beat the Zacks Consensus Estimate by 4%, primarily driven by increased sales volumes in both the upstream and downstream segments. However, the top line decreased approximately 1.3% year over year.

As of Dec. 31, 2025, SU had cash and cash equivalents of C$3.65 billion and long-term debt of C$9 billion. Its debt-to-capitalization was 16.7%.

Patterson-UTI Energy, Inc. (PTEN - Free Report) reported a fourth-quarter 2025 adjusted net loss of 2 cents per share, narrower than the Zacks Consensus Estimate of an 11-cent loss, and an improvement from the year-ago quarter's loss of 12 cents. The better-than-expected performance was primarily backed by improvement in the company’s Completions Services segment and a reduction in operating costs and expenses.

Patterson-UTI Energy’s total revenues of $1.2 billion beat the Zacks Consensus Estimate by 5%. This was driven by higher-than-expected revenues from Completion Services. The Completion Services segment reported revenues of $701.6 million, which beat the consensus mark of $647 million. However, the top line decreased about 1% year over year. This underperformance can be attributed to the decrease in year-over-year revenue contribution from the Drilling Services, Drilling Products and Other Services segments.

As of Dec. 31, 2025, PTEN had cash and cash equivalents worth $420.6 million and long-term debt of $1.2 billion. Its debt-to-capitalization was 27.5%.

Another oil field service company, Liberty Energy Inc. (LBRT - Free Report) , reported a fourth-quarter 2025 adjusted net profit of 5 cents per share, beating the Zacks Consensus Estimate of a loss of 16 cents by a considerable margin. The outperformance was driven by the company’s focus on technological innovation and strong operational execution. However, the bottom line decreased from the year-ago quarter’s profit of 10 cents.

LBRT's revenues totaled $1 billion, which beat the Zacks Consensus Estimate of $862 million. The top line also increased from the prior-year quarter’s $944 million by 10%, driven by higher activity levels that meaningfully exceeded the industry.

As of Dec. 31, Liberty Energy had approximately $28 million in cash and cash equivalents. The pressure pumper’s long-term debt of $241.5 million represented a debt-to-capitalization of 10.4%.

Paris, Feb. 06, 2026 (GLOBE NEWSWIRE) -- Freya Investissement ("Freya") owns approximately 19% of the shares but holds 27% of the votes in Tele2 AB (publ) ("Tele2") on 06 February 2026. Freya has started to align its economic and voting rights in Tele2 and is looking to reach up to 27% of its economic rights within the next few months.

The operation is carried out through a series of transactions on its holdings in Tele2, including by entering into swap arrangements for financial and regulatory reasons, which entails several market and regulatory disclosures throughout the period. These series of transactions are not intended to result in any material change in votes controlled by Freya in Tele2.

Freya remains an active and committed long-term investor in Tele2.

Media enquiries

Louise Tingström / Cornelia Schnepf, FinElk

[email protected]

Freya Investissement

[email protected]

www.freya-investissement.com

06022026 Freya Tele2 press release FINAL

CNBC's MacKenzie Sigalos breaks down the volatile week for bitcoin.

Bitwise Bitcoin ETF offers pure Bitcoin exposure currently facing a 44% drawdown from its all-time high. BITB is in a pronounced downtrend, driven by macro 'Risk-Off + Stagflation' conditions and persistent ETF outflows. On-chain metrics signal deep capitulation, with DCA accumulation thresholds around $54.6k, suggesting further downside before reaccumulation.

Ethereum slipped below the $2,000 mark for the first time since May 2025 as intense selling pressure swept through the crypto market. Bitcoin’s drop to $60,000 added to the downside momentum, dragging ETH lower until buyers stepped in around $1,753, a level that helped stall the decline and spark a rebound.

The recovery lifted the ETH price back above $1,975, suggesting the move lower was largely technically driven rather than event-led. With no major negative catalyst behind the sell-off, rising buying pressure fueled a swift bounce, shifting focus to whether Ethereum can now build on this recovery or if the rebound remains a short-term reaction within a broader range.

Weekly Chart Signals Compression Ahead of a BreakoutThis ETH weekly chart captures a long phase of consolidation that traders often see before a big expansion move. Ethereum has been printing higher lows since the 2022 bottom, while price keeps getting capped near the $3,800–$4,000 resistance zone. The recent move above that level, followed by a sharp pullback, looks like a classic fakeout meant to flush late entries. With the broader structure still intact, this setup leans more toward prolonged accumulation than a trend breakdown.

Source: XFor traders, the line in the sand sits around $2,800–$3,000, where the higher-low structure is anchored. As long as ETH holds this zone, upside attempts remain valid. A strong weekly close above $4,200 would signal real acceptance and could open the path toward $5,000–$5,500, with $7,000 as the larger breakout target. Losing $2,800 on a weekly close would weaken the setup and point to more sideways or corrective price action.

Ethereum Price at a Decision PointEthereum’s current price action reflects stabilization, not confirmation. After defending the $1,750–$1,900 macro support zone, ETH has managed to rebound above $1,950, but it continues to struggle below the $2,150 resistance, which remains the first level bulls need to reclaim to regain short-term control.

From a higher-timeframe perspective, the weekly higher-low structure is still intact, meaning the broader bullish thesis has not been invalidated yet. However, the lack of a strong follow-through move and continued rejection near resistance suggests ETH is still range-bound, not trending.

As long as ETH holds above $1,750, the downside risk remains containe,d and the market stays in a positioning phase. A weekly close below $1,700 would weaken the structure and open the door to a deeper correction. On the upside, a reclaim of $2,150, followed by acceptance above the $2,600 mid-range, would be the first signs that Ethereum is preparing for a broader breakout attempt.

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Dogecoin’s open interest has crashed to levels not seen since October 2024. This was notably just before the leading meme coin recorded a significant surge, raising speculation that history might repeat itself.

Dogecoin’s open interest has crashed below $1 billion, down over 16%, according to Coinglass data. The last time the open interest dropped to these levels was in October 2024, just before it began an uptrend which led to a high of $4.45 billion in December 2024. October 2024 also marked the bottom for the DOGE price, as it rose from around $0.155 to as high as $0.46.

Dogecoin notably rose back then, partly thanks to Donald Trump’s presidential election victory and Elon Musk’s move to name a government agency, the Department of Government Efficiency, after DOGE. Additionally, the Fed lowered rates at the time, which was also bullish for the leading meme coin. 

Source: Chart from Coinglass It remains to be seen whether Dogecoin can replicate such a price surge this time, given that open interest has dropped to October 2024 levels. It is also worth noting that the current macroeconomic outlook differs this time, with the Fed making a hawkish pivot and unlikely to lower rates until at least June. However, Musk recently mentioned Dogecoin, saying they could send the meme coin to the moon next year. 

Meanwhile, crypto traders on Binance look to be positioning for a price surge in hopes that this might be the bottom for Dogecoin. The current long/short ratio is 2, indicating that most traders are long. However, DOGE’s long/short ratio across all exchanges is still below 1, indicating that most crypto traders are still bearish and shorting the meme coin. 

DOGE Still Risks Dropping To $0.054 Crypto analyst Ali Martinez has indicated that Dogecoin could still drop to as low as $0.054. In an X post, he stated that this is the level he is looking at for a potential bounce. However, crypto analyst Mikybull Crypto suggested that the leading meme coin may not drop to that level, as DOGE’s RSI is currently at a historical level that has acted as support in past cycles. As such, there is the possibility that it could bounce from here. 

It is worth noting that Dogecoin has seen a surge in metrics, including derivatives trading volume, which has increased by more than 100% to $6.5 billion. Options trading volume and open interest have also surged by 381% and 135%, respectively, indicating that crypto traders are actively trading the meme coin. 

At the time of writing, the Dogecoin price is trading at around $0.09075, down over 11% in the last 24 hours, according to data from CoinMarketCap.

DOGE trading at $0.09 on the 1D chart | Source: DOGEUSDT on Tradingview.com Featured image from Getty Images, chart from Tradingview.com

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Scott Matherson is a leading crypto writer at Bitcoinist, who possesses a sharp analytical mind and a deep understanding of the digital currency landscape. Scott has earned a reputation for delivering thought-provoking and well-researched articles that resonate with both newcomers and seasoned crypto enthusiasts. Outside of his writing, Scott is passionate about promoting crypto literacy and often works to educate the public on the potential of blockchain.

Fri, 6/02/2026 - 17:04

After a terrifying plunge to $60,000 that registered 'Extreme Fear' readings not seen since 2020, Bitcoin has staged a stunning rebound to reclaim $70,000 in a single trading session.

Cover image via www.youtube.com Bitcoin has just stormed back above the $70,000 psychological threshold, according to data provided by the Bitstamp exchange. It has managed to reach an intraday high of $70,224. 

On Thursday, a cascade of institutional selling drove the price vertically down. Bitcoin pierced support levels to hit a wick low of approximately $60,000

However, the "V-shaped" recovery has been just as violent as the crash. Bitcoin has rallied over $10,000 from the lows in a matter of hours.

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In fact, BTC is now on track to record the biggest one-day gain since March 13, 2023. This date marks the "SVB Crisis" rally. Following the collapse of Silicon Valley Bank, the Fed stepped in with the BTFP (Bank Term Funding Program). Bitcoin surged approximately 9.6% in a single day. Since then, there have been remarkably few single-day candles exceeding 10%.

However, it remains to be seen whether this recovery will be more than a dead cat bounce, and the bulls are definitely not out of the woods just yet. 

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In brief Gold is a "better cushion" during falling markets, while Bitcoin offers greater upside during rebounds, according to Bitwise Head of Europe Bradley Duke. Bitcoin's perceived role as "digital gold" has come into question as the precious metal has soared while BTC has crashed. A panel at Digital Assets Forum London argued that the significance of Bitcoin's four-year "halvings" has diminished. Gold and Bitcoin work most effectively when they're in the same portfolio, a Bitwise executive has argued.

Speaking at the Digital Assets Forum in London, Bradley Duke, Managing Director and Head of Europe at the digital asset management firm said that gold "is a better cushion" when markets are falling, while BTC offers greater upside during rebounds.

"One is more to the upside risk and the other is more protecting against the downside of uncertainty," Duke said.

The Bitwise exec was speaking during a panel examining whether crypto's four-year cycles are dead. Ominously, the discussion was held on Thursday, when Bitcoin fell almost as low as $60,000 during a punishing drawdown.

The analogy of Bitcoin as "digital gold" has taken a hammering of late, with both assets on divergent paths. While the precious metal has surged by 46% over the past six months, setting a new all-time high in the process, the world's biggest cryptocurrency is down 40% over the same period.

When asked about why gold had proven more popular than Bitcoin of late, Duke pointed to "muscle memory," with investors flocking to a safe haven asset that has existed for thousands of years.

"Allocators and countries have bought gold in this way for hundreds of years and will continue to do that until there is the trust established in this new better money, which is Bitcoin," he added. "But that takes time."

On prediction market Myriad, owned by Decrypt's parent company Dastan, users put a 67% chance Bitcoin costing 10 oz of gold rather than 30 oz after its next move.

Bitcoin’s “four-year cycle”Until recently, many analysts believed that BTC operated in four-year cycles of boom and bust, driven by "halvings" where the supply of new Bitcoin entering the market permanently falls by 50%. This last happened back in 2024, with the next expected to take place in April 2028.

But according to those on the panel, the significance of halvings has diminished—primarily because most of the 21 million Bitcoin that will ever exist is already in circulation—with volumes from exchange-traded funds also blunting this digital asset's volatility.

Anatoly Crachilov, CEO of Nickel Digital, said the supply of new BTC has been "completely dwarfed by ETF flows, by basis trades and by treasury acquisitions."

Duke argued that Bitcoin was "growing up,” and “bootstrapping itself to become a macro asset for the long term.” Where initially, the only Bitcoin investors were "cypherpunks and what we call OGs now,” he added, “today we see sovereign states investing in Bitcoin."

The managing partner of Fifth Era Blockchain Coinvestors, Matthew Le Merle, admitted that Bitcoin's recent contraction was "very challenging," especially for investors who bought at the top.

However, he argued that a more pressing matter is turning Bitcoin into "a global peer-to-peer cash" at a time when only a few thousand top-tier blockchain developers exist worldwide, and many risk being drawn to alternative industries such as artificial intelligence.

"If you're investing because you think you can time the market because you think there's a cycle and you want to trade and make a quick buck, you're in the wrong room," he warned. "That's not what this is about."

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Bit Digital released its January 2026 report on its Ethereum treasury, staking activity, and strategic equity holdings. As of month-end, the company reported total holdings of approximately 155,239.4 ETH, including assets held directly and ETH-equivalents managed externally. With a closing ETH price near $2,449, the market value of that position reached roughly $380.2 million.

Bitwise CIO Matt Hougan says the sell-off reflects cycle dynamics and macro risk-off forces — not a repeat of 2022's systemic collapse.

Bitcoin and ether ETFs remained under intense selling pressure, extending February's sharp drawdown. XRP and solana ETFs, however, continued to attract fresh capital, offering rare pockets of strength.

TL;DR

Trend Research cut Aave wrapped Ether from 651,170 ETH to roughly 247,080 and sent 411,075 ETH to Binance as ETH fell 30%. Lookonchain placed liquidation levels at $1,698 to $1,562, squeezing the Jack Yi Aave borrowing loop. Arkham and Onchain Lens tracked 94,000 ETH moved in two hours and 235,588 ETH total deposited to repay stablecoin debt; Feb. 4 sales lifted the threshold from $1,880 to $1,830. Trend Research is rapidly cutting Ether exposure as ETH slid toward levels that threaten liquidation on its Aave backed leverage stack. The firm is shifting from accumulation to defense as ETH tests critical thresholds. Onchain figures showed about 651,170 ETH in Aave Ethereum wrapped Ether on Sunday, falling by 404,090 to roughly 247,080 by Friday. Arkham data indicated Trend transferred 411,075 ETH to Binance since the start of the month. The moves came as ETH fell almost 30% in a week to as low as $1,748 and later traded near $1,967 at time of writing.

Deleveraging accelerates as Aave liquidation bands tighten Trend Research has been tied to Jack Yi, founder of Hong Kong based Liquid Capital, and its approach relied on buying ETH, pledging it on Aave, borrowing stablecoins, then purchasing more ETH. That leverage loop is being unwound as liquidation bands narrow between $1,698 and $1,562. Lookonchain flagged those levels in a Friday post. Yi wrote he remains bullish while admitting he called a bottom too early and will keep waiting for recovery while “managing risk.” Trend surfaced after the October 2025 $19 billion liquidation event, when it began aggressive Ether accumulation during market crash.

Exchange transfers have become a recurring tool for deleveraging. Trend is using Binance liquidity to convert collateral into debt service under stress. Arkham Intelligence showed another 23,000 ETH, worth $43.98 million, sent to Binance to repay outstanding Aave debt, contributing to more than 94,000 ETH, about $200 million, moved in roughly two hours. Onchain Lens reported Trend deposited a total 235,588 ETH valued near $516.16 million into Binance to sell and repay stablecoin debt used to go long ETH. At peak, the borrowed stablecoins reached about $958 million. Sales reduced collateral and lowered liquidation risk.

Trend began the unwind on Feb. 4 by selling 33,589 ETH for $79 million and using $77.5 million in USDT to reduce debt, lifting its liquidation threshold from $1,880 to $1,830. Each repayment raises the buffer, but the margin stays thin while ETH remains volatile. Lookonchain said Trend still holds 356,150 ETH worth $671 million with liquidation prices between $1,562 and $1,698, while ETH traded near $1,923. The same update noted other leveraged holders: Joseph Lubin and two unknown whales with liquidation prices $1,329 to $1,368, and 7 Siblings with liquidation prices $1,075 and $1,029.