Bithumb Halts VANA Transactions Amid Mainnet Issue, Testing Market Resilience

VADODARA, February 9, 2026 — Bithumb, a major South Korean cryptocurrency exchange, suspended deposits and withdrawals for Vana (VANA) at 2:05 p.m. UTC today. The exchange cited a mainnet network issue as the cause. This daily crypto analysis examines the technical and market implications of this event. Market structure suggests isolated liquidity events can trigger broader volatility during periods of extreme fear.

Investigation: Bithumb's VANA Transaction Suspension

According to Bithumb's official announcement, the exchange temporarily halted all VANA deposit and withdrawal functions. The suspension began precisely at 2:05 p.m. UTC on February 9, 2026. Bithumb attributed this action to a mainnet network issue affecting VANA's blockchain. On-chain data indicates no immediate abnormal transaction volume preceding the halt. Consequently, this appears as a precautionary measure rather than a security breach. The exchange has not provided a timeline for resumption, creating uncertainty for VANA holders.

Market Context & Historical Precedent

Historically, exchange halts during extreme fear markets amplify sell-side pressure. Underlying this trend is reduced liquidity and heightened risk aversion. In contrast, similar events in 2021 often preceded short-term recoveries as exchanges resolved technical issues. This suspension occurs amid broader institutional accumulation signals. For instance, MicroStrategy's recent Bitcoin purchase demonstrates contrarian positioning during fear. , Bitmine's $83.5M ETH acquisition highlights institutional capital flowing into perceived safe-haven assets.

Technical Architecture & Price Action

Market structure suggests VANA faces a critical test at its Fibonacci 0.618 retracement level of $0.85. This level aligns with a previous order block from January 2026. A break below $0.85 would invalidate the current bullish structure. For Bitcoin, the 200-day moving average at $65,000 provides key support. RSI readings on daily charts show oversold conditions at 28. This technical setup mirrors patterns observed during the March 2020 liquidity crisis. According to Ethereum's official documentation on network upgrades, mainnet issues often resolve within 24-48 hours, minimizing long-term price impact.

By The Numbers

Why It Matters

This event matters because it tests market resilience during extreme fear. Exchange halts can trigger liquidity grabs in altcoins. Institutional liquidity cycles show capital rotating from risky altcoins to Bitcoin during such events. Retail market structure often overreacts to technical suspensions. Historical cycles suggest these events resolve quickly but highlight infrastructure vulnerabilities. Consequently, they reinforce Bitcoin's role as a settlement layer versus altcoin speculation.

Expert Commentary

"Isolated halts during fear markets typically create short-term volatility but rarely alter long-term trends. The key is monitoring on-chain settlement finality and exchange transparency," said the CoinMarketBuzz Intelligence Desk.

Market Outlook & Price Scenarios

Market structure suggests two primary scenarios based on current data. First, a quick resolution of VANA's mainnet issue could see a relief rally to fill the Fair Value Gap at $0.95. Second, prolonged suspension may trigger further altcoin outflows into Bitcoin. The 12-month institutional outlook remains cautiously optimistic, with accumulation patterns indicating long-term positioning. This aligns with a 5-year horizon where infrastructure maturity reduces such events.

• Bullish Invalidation Level: VANA must reclaim and hold above $0.95 to confirm trend reversal and invalidate bearish structure.
• Bearish Invalidation Level: Bitcoin must maintain support above the 200-day moving average at $65,000 to prevent broader market breakdown.