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VADODARA, February 9, 2026 — Bithumb will temporarily suspend all Pocket Network (POKT) deposits and withdrawals starting at 10:00 a.m. UTC on February 10. The South Korean exchange cites a network upgrade as the reason. This daily crypto analysis examines the event's technical and market implications. Bitcoin trades at $69,545, down 0.98% in 24 hours. Global crypto sentiment sits at Extreme Fear.
According to the official announcement from Bithumb, the suspension affects only Pocket Network (POKT). Trading for POKT will continue uninterrupted. The halt begins precisely at 10:00 a.m. UTC on February 10. Bithumb has not specified a resumption time. Network upgrades often require exchanges to pause transactions. This prevents potential losses from chain reorganizations or consensus failures.
Pocket Network operates as a decentralized infrastructure protocol. It uses a proof-of-stake mechanism with validators. Upgrades can involve changes to block parameters or governance rules. Bithumb's move follows standard operational procedure. However, timing is critical. The suspension occurs during a period of Extreme Fear market sentiment.
Exchange suspensions during network upgrades are common. Historically, they cause short-term liquidity squeezes. For example, Ethereum's Shanghai upgrade in 2023 prompted similar halts. Consequently, altcoin volatility often spikes around these events. In contrast, well-executed upgrades can boost long-term network security.
Market structure currently shows fragility. The Crypto Fear & Greed Index scores 14/100. This indicates Extreme Fear. Such sentiment often precedes sharp price movements. , digital asset funds have seen three consecutive weeks of outflows. Institutional liquidity is contracting.
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Pocket Network's upgrade likely involves consensus changes. According to Ethereum.org's documentation on network upgrades, such events require careful coordination. Validators must update software to avoid slashing. Bithumb's suspension protects user funds during this transition.
Price action for POKT will face immediate pressure. The suspension creates a temporary Fair Value Gap (FVG). Liquidity on Bithumb will drop to zero for deposits and withdrawals. This could cause price discrepancies across other exchanges. Market analysts monitor Bitcoin's $69,545 level as a proxy. Bitcoin dominance often rises during Fear periods.
Technical indicators show broader weakness. Bitcoin's RSI hovers near 45, indicating neutral momentum. The 50-day moving average sits at $71,200, acting as resistance. A break below the Fibonacci 0.618 support at $68,000 would signal deeper correction. Altcoins like POKT typically amplify Bitcoin's moves in such environments.
| Metric | Value |
|---|---|
| Crypto Fear & Greed Index | 14/100 (Extreme Fear) |
| Bitcoin Price | $69,545 |
| Bitcoin 24h Change | -0.98% |
| POKT Suspension Time | Feb 10, 10:00 a.m. UTC |
| Market Sentiment | Extreme Fear |
This event matters for three reasons. First, it tests exchange reliability during protocol changes. Second, it highlights altcoin vulnerability in Fear markets. Third, it reflects broader institutional caution. On-chain data indicates reduced network activity across major blockchains.
Institutional liquidity cycles are turning negative. Recent fund outflows total $187 million over three weeks. This pressure exacerbates retail panic. Market structure suggests a liquidity grab may be forming. Weak hands are likely exiting positions. Consequently, any upgrade mishap could trigger cascading sell-offs.
"Network upgrades are necessary for blockchain evolution, but timing is everything. Suspending transactions during Extreme Fear sentiment amplifies market anxiety. Traders should monitor Bitcoin's $68,000 Fibonacci level as a bellwether for altcoin stability." — CoinMarketBuzz Intelligence Desk
Two data-backed scenarios emerge from current market structure.
The 12-month institutional outlook remains cautious. Network upgrades like Pocket Network's are positive long-term. They enhance security and scalability. However, short-term market fragility dominates. Historical cycles suggest Fear periods often precede accumulation phases. The 5-year horizon depends on successful protocol execution and macroeconomic liquidity.
Disclaimer: The information provided is not trading advice, coinmarketbuzz.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
coinmarketbuzz.com leverages advanced AI technology to analyze market data. All content is fact-checked and reviewed by our editorial team to ensure accuracy and neutrality.
