The crypto market this week was marked by sharp volatility, with a major sell-off erasing significant value before a partial recovery. Bitcoin dominance held at 57%, while Ethereum stayed at 10.1%, and ecosystems like Polkadot and XRP showed relative strength.
The week’s dominant story was the crypto market crash, fueled by ETF outflows, macroeconomic pressures, and a broader risk-off sentiment. Bitcoin plummeted below $70,000, triggering over $1 billion in liquidations and pushing the fear and greed index to extreme fear levels at 15. This downturn, linked to tighter U.S. monetary policy expectations and sell-offs in precious metals, wiped out nearly $410 billion from the market cap in days, raising fears of a new crypto winter. Even permabulls expressed uncertainty over the triggers, with some pointing to global uncertainty and reduced institutional enthusiasm post-ETF hype.
Despite the chaos, signs of bottoming emerged as Bitcoin rebounded 11.1% over seven days to $69,037, suggesting opportunistic buying amid oversold conditions. However, sustained recovery depends on stabilizing macro factors, as ongoing volatility could deter retail investors and amplify regulatory scrutiny.
Other news:
Positive
XRP received bullish forecasts, potentially hitting $12.50 by 2028 per Standard Chartered.
Polkadot and XRP Ledger ecosystems led industry gains.
Neutral
Industry leaders discussed crypto’s identity crisis, with figures like Evgeny Gaevoy criticizing a shift to “number-go-up” focus.
Coinbase’s solo Super Bowl ad emphasized economic freedom through a sing-along format.
U.S. Senate passed a crypto market structure bill in markup vote.
Negative
Bithumb’s $40 billion phantom Bitcoin error sparked scrutiny over exchange controls.
Bitfarms exited Bitcoin mining for AI and Ethereum amid tightening miner margins.
Xinbi highlighted as a major illicit crypto hub despite crackdowns.
Sons of Trump officials’ crypto ventures yielded mixed investor results.
Among top coins, Solana led movers with an 18.4% 7-day gain, followed by BNB at 17.8% and XRP at 13.3%, reflecting rebound strength in altcoins. Bitcoin and Ethereum also rose 11.1% and 10.9% respectively over the week, while stablecoins like Tether and USDC remained flat. Given the recent dip to $65,000, Bitcoin presents a potential buying opportunity for long-term holders betting on recovery above $70,000, amid oversold indicators. No standout altcoin buy signals beyond the rebound, but Solana’s momentum could offer entry if it holds above $80.
Bitcoin Price Evolution (Last 7 Days) Bitcoin Price Evolution (Last 7 Days) Date Price (USD) Feb 3, 2026 $78,766.83 Feb 4, 2026 $76,405.83 Feb 5, 2026 $70,770.99 Feb 6, 2026 $64,856.11 Feb 7, 2026 $69,296.96 Feb 8, 2026 $70,520.40 Feb 9, 2026 $69,557.32
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