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Bitcoin dropped below $80,000 over the weekend. More than $2.5 billion in leveraged positions were liquidated in a single week. The Crypto Fear & Greed Index hit 14, its lowest level so far in 2026, while roughly $1.5 billion exited U.S. Bitcoin ETFs in the final days of January.
For traders positioned on the wrong side of these moves, losses were immediate. Once liquidations hit, there were no buffers, rebates, or second chances.
Phemex is running a limited-time promotion designed for conditions like these: 2x Profit Boosts and Loss Rebates, backed by $200,000 in total trading protection. The event runs from February 2 to February 16, 2026 (UTC). Registration is free, but participation requires opting in before trading, and only trades placed after registration are eligible.
Register for Loss Rebates on Phemex
Why Does This Matter Right Now?
January 2026 was one of the most volatile months in recent crypto history:
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Event
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Data
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BTC low (Jan 30)
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Below $81,000, lowest since November 2025
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Weekly decline (late Jan)
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Over 11% in 7 days
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Leveraged liquidations (Jan 29 alone)
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$1.7 billion, 267,000+ traders wiped
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Long positions liquidated
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93% of all liquidations
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ETF outflows (final week of Jan)
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~$1.5 billion pulled from U.S. Bitcoin ETFs
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Fear & Greed Index
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14 (Extreme Fear)
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BTC weekend drop (Feb 1)
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Below $80,000, lowest since April 2025
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The sell-off was driven by a combination of factors, including a hawkish Federal Reserve holding rates between 3.50% and 3.75%, the nomination of Kevin Warsh as the new Fed Chair, renewed tariff concerns, and cascading leverage liquidations that accelerated the decline.
Event 1: New User Profit Boost and Full Loss Rebate ($60,000 Prize Pool + Win 0.01 BTC)
This event is exclusive to users who have never traded futures on Phemex. New users receive a profit boost on their first profitable futures trade and a full loss rebate if their first trade closes at a loss.
Profit boost tiers (based on first trade profit "X"):
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Your First Trade Profit
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Boost Multiplier
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Max Reward
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Prize Pool
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20 USDT ≤ X < 100 USDT
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2x Profit Boost
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Up to $100
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$20,000
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100 USDT ≤ X < 500 USDT
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1x Profit Boost
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Up to $300
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$10,000
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500 USDT ≤ X < 2,000 USDT
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0.5x Profit Boost
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Up to $500
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$10,000
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X ≥ 2,000 USDT
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Flat reward
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Up to $1,000
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$20,000
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If the first futures trade results in a loss, new users receive a 100% loss rebate, capped at 100 USDT.
Rewards within each tier are distributed proportionally. New users who reach 5,000,000+ USDT in trading volume during the event are entered into a random draw to win 0.01 BTC.
Event 2: Loss Rebates for All Participants
Prize pool: $140,000 + chance to win 2 ETH
This event is open to all registered users. Traders who finish the event period with a net loss may qualify for a rebate based on total loss size.
Loss rebate tiers (based on total loss "X" during the event):
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Your Total Loss
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Max Rebate
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Prize Pool
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50 USDT ≤ X < 100 USDT
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Up to $10
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$20,000
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100 USDT ≤ X < 500 USDT
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Up to $20
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$20,000
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500 USDT ≤ X < 2,000 USDT
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Up to $50
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$30,000
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2,000 USDT ≤ X < 5,000 USDT
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Up to $100
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$40,000
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X ≥ 5,000 USDT
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Up to $500
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$30,000
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PNL is calculated as:
Realized P/L + Funding Fee Income − Transaction Fees + Change in Unrealized P/L between the start and end of the event.
A minimum trading volume of 10,000 USDT is required to qualify. Users who reach 100,000,000+ USDT in trading volume are entered into a random draw to win 2 ETH.
Activate Trading Protection on Phemex
Key Rules
Registration is mandatory. You must click "Register Now" on the event page during the activity period. Trades placed before registration do not count.
Minimum volume applies. Event 2 requires at least 10,000 USDT in trading volume to claim loss rebates.
Rewards come as USDT futures bonus. Distributed within 7 working days after February 16. These are futures trading credits, not withdrawable cash.
Sub-accounts and API traders are excluded. Only primary accounts trading manually or through the standard interface are eligible.
Proportional distribution. Rewards within each tier are shared among all qualifying participants based on your share of the pool.
Frequently Asked Questions
What is this promotion?
A limited-time event (Feb 2 to Feb 16, 2026) with $200,000 in total rewards. New users get profit boosts up to 2x and 100% first-trade loss rebates. All users get loss rebates scaled by loss size from a $140,000 prize pool.
Do I need to register?
Yes. You must click "Register Now" on the promotion page before trading. Only trades after registration count.
What if my first futures trade is a loss?
New users receive a 100% loss rebate on their first trade, capped at 100 USDT.
How is the loss rebate calculated?
PNL = Realized Profit/Loss + Funding Fee Income, minus Transaction Fees, plus the change in Unrealized Profit/Loss between event start and event end. Minimum 10,000 USDT trading volume required.
When do I receive my rebate?
Within 7 working days after the promotion ends on February 16, issued as USDT futures bonus.
Bottom Line
The market is not waiting for conditions to stabilize. BTC remains below $80,000, liquidations continue, and volatility shows no signs of easing. Phemex’s $200,000 trading protection campaign offers profit boosts when trades go right and partial downside protection when they do not. Registration closes on February 16.
Register Now for Phemex Loss Rebates
Event period: February 2, 2026 10:00 UTC to February 16, 2026 00:00 UTC. This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency futures trading involves substantial risk of loss. Always conduct your own research and trade responsibly.
