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Today the global cryptocurrency market remains in a volatile and corrective phase, with major digital assets experiencing significant price swings amid broader market uncertainty. Bitcoin, the bellwether of the crypto space, has continued its downturn this week, dipping to around $60,000 at intraday lows before recovering slightly to trade near the mid-$60,000s. This marks a 16-month low and nearly a 50 % drop from its all-time high in late 2025, reflecting sustained selling pressure and risk-off sentiment among investors.
Ethereum and many altcoins are also struggling, with most of the top 100 cryptocurrencies showing losses as liquidity tightens and market confidence weakens. Trading volumes have surged as leveraged positions are unwound, driving increased volatility and a wave of forced liquidations across derivatives markets.
Several factors are contributing to the market’s downward pressure. A sell-off in global technology stocks and risk assets has led investors to shift capital toward perceived safe havens, reducing appetite for speculative crypto positions. Additionally, significant outflows from U.S. Bitcoin and Ethereum ETFs have further strained demand, pushing prices lower.
Market sentiment indicators like the Fear & Greed Index are currently in the “extreme fear” zone, signaling widespread caution and capitulation. This environment could present opportunities for long-term holders if a base forms in the $54,000–$60,000 range, but investors should be prepared for volatility to persist before a clearer trend emerges.
In summary, the crypto market on February 6 is experiencing corrective pressure, significant price drawdowns, and heightened fear among participants—but with potential for stabilization if broader financial conditions improve.
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