📢 Gate Square Daily Report | February 6

1️⃣ Market Sentiment: Panic in the crypto market continues to deepen, with the Fear Index falling to 9.
2️⃣ Price Movement: Bitcoin is approaching $60,000, potentially marking its largest single-day decline since the FTX collapse.
3️⃣ Market Debate: The long-standing narrative of Bitcoin’s 21 million supply cap is being challenged, as ETFs and futures markets may introduce “synthetic supply” shocks.
4️⃣ Industry Insight: The CEO of Wintermute argues that the public-chain debate is a false proposition and warns that the crypto industry is losing its direction.
5️⃣ Institutional View: JPMorgan forecasts Bitcoin’s long-term price target could reach $266,000, citing growing appeal compared to gold.