Today’s Crypto Market Analysis – Feb 6, 2026

The crypto market is sharply down today as Bitcoin tests 16-month lows, slipping toward the $60,000 zone while the total market cap has dropped by trillions from recent highs. Major altcoins like Ethereum and XRP are also in the red amid broad risk-off sentiment. The downturn has been fueled by mass liquidations of leveraged positions, weak investor confidence, and global risk aversion.

Key factors contributing to the sell-off include ongoing macroeconomic uncertainty, tech stock weakness, and institutional outflows from Bitcoin ETFs. Traders are de-risking and moving funds into traditional safe havens, such as gold and government bonds, which puts additional pressure on crypto prices.

Importantly, there is no confirmed full-scale war between Iran and the United States right now, driving this drop. Geopolitical headlines and risk concerns may contribute to fear-driven trading, but current market moves are largely technical, sentiment-based, and tied to liquidity and macro data rather than direct military conflict.

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