Due to the House being in recess, the U.S. federal government entered a technical, partial shutdown at 12:00 a.m. on Jan. 31 after a funding bill failed to pass in time. While the Senate approved a $1.2 trillion appropriations package, the House will not vote until Feb. 2.

Some federal agencies will pause operations and non-essential workers face furloughs. The White House called it a procedural issue, and markets expect limited short-term impact, though a longer shutdown remains possible. — link

“Unified account” mode is live on mainnet for pre-alpha testing. Unified account is an improved account setting in which spot and perps balances of all quote assets are merged. Unified account mode has been a much requested feature in its own right, and is also a prerequisite for supporting cross margin for HIP-3 DEXs and completing the portfolio margin implementation.

Under unified account mode, a notable change is that USDC spot balances will no longer be separate from USDC perp balances. All USDC deposits from any source will immediately count towards margin requirements and protect against liquidations. The same will be true for all collateral assets as cross margin is enabled on HIP-3 DEXs.

Ultimately unified account will be a reasonable default setting for most interfaces, but is suggested to be tested with small accounts during pre-alpha. On app.hyperliquid.xyz, users can try unified account mode in the settings menu. To return to legacy mode, all positions must be closed and open orders must be canceled.

Unified account and portfolio margin will be rate limited on the L1. After 50k daily user actions (e.g., placing an order or sending an asset) with portfolio margin or unified account active, users will only be able to close positions until the account disables portfolio margin and unified account. Market makers and high volume automated users should manually manage individual DEX balances instead.

Garret Bullish just market-closed 15K ETH (~$38M) and is still long 198K ETH (~$510M).

He is currently closing more.

https://hypurrscan.io/address/0xb317d2bc2d3d2df5fa441b5bae0ab9d8b07283ae

JUST IN: Bitcoin falls under $81,000

Nearly $1,000,000,000 liquidated from the crypto market in the past 24 hours.

@WatcherGuru

Bitcoin Drops Below $80,000 For The First Time Since April 2025: Market

🔗 velo.xyz

It looks like a bear trap.

some old polls to look back at:

eth top
https://news.1rj.ru/str/cryptomumbles/15474

market top
https://news.1rj.ru/str/cryptomumbles/14687

CryptoQuant CEO Ki Young Ju said Bitcoin is declining as selling pressure persists and fresh capital inflows have dried up. He added that without major selling from MicroStrategy’s Michael Saylor, a deep 70% crash like past cycles is unlikely, but warned the market has not yet found a clear bottom and may enter a prolonged sideways consolidation. — link

BINANCE SAFU FUND HAS BOUGHT 1315 BTC ($100.7M)

SOURCE

i remember reading an old article on ct describing how the market has been rewarding wrong takes and a lot of us have carried that same mentality thinking that we were right since we were rewarded

but in fact a lot of folks will eventually be punished

nearest examples being

xxx is consensus now, this must be top
xxx has the lowest sentiment, this must be bottom

in the past, we were actually rewarded by taking trades like these, so most people actually do carry forward these kinds of reasoning

but i think we will eventually run out of chances to be wrong and make money

can't blame ourselves because we got pavlov-ed from how the market worked previously and we simply try to repeat what worked to make money again and again

just can't be too comfortable w the conditioning and assume status quo moving forward

then again, who is to say what reasonings are right or wrong

since its always price <> narrative

you are always wrong until the price goes up and suddenly you are right