Upbit Suspends POKT Transfers Amid Network Upgrade and Extreme Market Fear

VADODARA, February 9, 2026 — South Korean cryptocurrency exchange Upbit will temporarily suspend all deposits and withdrawals for Pocket Network (POKT) starting at 9:00 a.m. UTC on February 10, according to an official exchange announcement. This Daily crypto analysis examines the technical implications of the network upgrade suspension during a period of Extreme Fear market sentiment, with Bitcoin trading at $68,944.

Investigation: Upbit's POKT Suspension Mechanics

Upbit cited a "network upgrade" as the sole reason for suspending POKT transactions. The exchange provided no technical details about the upgrade's scope or duration. Consequently, all POKT liquidity on Upbit becomes isolated from external networks during the suspension window. Market structure suggests this creates a temporary Fair Value Gap (FVG) between Upbit's internal POKT price and global spot markets.

According to on-chain data from Etherscan, similar network upgrade suspensions typically last 2-6 hours for minor updates. However, major protocol changes like Ethereum's EIP-4844 implementation required 12+ hour halts. Upbit's announcement lacks this critical timeframe detail, increasing uncertainty for POKT holders.

Market Context & Historical Precedent

Historically, exchange suspensions during network upgrades create asymmetric volatility opportunities. In contrast to routine maintenance, upgrade-related halts often precede significant price movements once transactions resume. Underlying this trend is the accumulation of pent-up buy/sell orders during the suspension period.

South Korean exchanges face particular scrutiny following recent operational incidents. For instance, Bithumb's Bitcoin payment error triggered parliamentary summons, while the FSS chief warned of catastrophic fallout for affected users. These events establish a regulatory precedent emphasizing exchange accountability during service disruptions.

Technical Architecture & Price Action

Pocket Network's architecture relies on decentralized infrastructure nodes serving RPC requests. Network upgrades typically involve consensus mechanism adjustments or node software updates. According to Ethereum's official documentation on network upgrades, proper coordination requires temporary transaction halts to prevent chain splits.

Bitcoin's current price action shows weakening momentum at the $69,000 resistance level. The 4-hour chart reveals a descending volume profile with increasing sell pressure. Market structure suggests Bitcoin faces critical Fibonacci support at the 0.618 retracement level of $67,200. This technical level coincides with a significant Order Block from January's rally inception.

By The Numbers

Why It Matters

Exchange suspensions during network upgrades test market infrastructure resilience. , they expose the fragility of altcoin liquidity during systemic stress. Institutional liquidity cycles typically avoid assets with frequent transaction halts, creating long-term valuation headwinds.

Retail market structure becomes particularly vulnerable during Extreme Fear periods. The current sentiment score of 14/100 indicates capitulation psychology dominates. Consequently, even minor operational disruptions like Upbit's POKT suspension can trigger disproportionate selling pressure across correlated assets.

Expert Commentary

"Network upgrade suspensions represent calculated operational risk management. However, their timing during Extreme Fear sentiment amplifies market impact. Historical cycles suggest such events often precede short-term volatility compression followed by directional breaks." — CoinMarketBuzz Intelligence Desk

Market Outlook & Price Scenarios

Market structure suggests two primary technical scenarios following the POKT suspension resolution:

• Bullish Invalidation Level: Bitcoin must reclaim and hold above $71,500 to invalidate the current bearish structure. This level represents the previous 4-hour swing high and coincides with the 20-period moving average resistance.
• Bearish Invalidation Level: Bitcoin must maintain support above $67,200 to prevent a deeper correction. This Fibonacci 0.618 level has historically acted as accumulation zone during fear-dominated markets.

The 12-month institutional outlook remains cautiously optimistic despite short-term headwinds. Network upgrades typically enhance protocol efficiency and security, potentially strengthening POKT's fundamental valuation over a 5-year horizon. However, immediate price action will depend on Bitcoin's ability to stabilize above key support levels.