The cryptocurrency market is currently experiencing a
major crash as of February 6, 2026. Over $2 trillion in global market value has been wiped out since October 2025, with $800 billion lost in the last month alone. Bitcoin fell to a 16-month low near $60,000 this week, marking its worst one-day drop since 2022.
Alerian Galaxy Global Cryptocurrency (CRYPTO)
5,198.93
-10.33% today
As of 6 Feb, 3:09 am IST • Disclaimer
5 Feb 2026 - 6 Feb 2026
Open5,797.60
Prev close5,797.60
High5,797.60
52-wk high10,679.50
Low5,159.12
52-wk low4,058.06
Current Market State
Extreme Fear: The Crypto Fear & Greed Index is at a score of 14, indicating high levels of panic selling.
Mass Liquidations: Over $2 billion in leveraged positions were wiped out in 24 hours, affecting more than 700,000 traders.
Major Asset Performance:
Bitcoin (BTC): Trading near $64,000, down roughly 40% from its October peak of $126,000.
Ethereum (ETH): Has fallen to approximately $1,850, erazing all gains from 2025.
Solana (SOL): Trading around $142, reflecting strong bearish pressure.
Drivers of the Crash
Macroeconomic Pressure: A broad sell-off in technology stocks and fears of a global recession have driven investors away from risky assets.
Institutional Outflows: Large-scale outflows from crypto ETFs and a "liquidity vacuum" have accelerated the decline.
Policy Uncertainty: Volatility has been exacerbated by concerns over US midterm elections and potential shifts in monetary policy.
Bullish Outlook & Recovery Potential
Despite the current crash, several indicators suggest a potential long-term bullish reversal:
Oversold Signals: Bitcoin's daily Relative Strength Index (RSI) recently flashed 17, a level historically associated with major market bottoms and subsequent massive gains.
Price Targets for 2026: Many analysts maintain bullish end-of-year targets. Standard Chartered and Bernstein forecast Bitcoin reaching $150,000 by late 2026, while Nexo suggests a range of $150,000–$200,000.
Structural Support: Institutional adoption through ETFs and the incorporation of Bitcoin into mainstream finance are viewed as long-term tailwinds that prevent a total collapse.