Bitcoin
Bitcoin and Ethereum deepen crypto sell-off on February 3 amid ongoing market fears
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Continuing the downturn from late January, the cryptocurrency market plunged further on February 3, 2026, with Bitcoin hitting $72,800—its lowest since before the 2024 U.S. election—and Ethereum dropping sharply. The sell-off, fueled by broader stock weakness and liquidity concerns, eased slightly after the U.S. House passed a funding bill to end the partial government shutdown. Experts caution of more declines but spot stabilization signals.
Bitcoin has declined about 40% from its October peak of $126,000, entering technical bear market territory amid heavy selling pressure. The cryptocurrency rebounded slightly to around $79,000 on February 2, 2026, but remains down over 10% for the week following $2.2 billion in liquidations. Analysts point to historical support levels near $58,000 as a potential bottom.
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Bitcoin fell to a nine-month low below $80,000 on January 31, 2026, triggering over $2.5 billion in liquidations across crypto markets. Analysts attribute the crash to liquidity issues and extreme leverage rather than geopolitical tensions or Federal Reserve actions. The downturn erased $111 billion from the total crypto market value in 24 hours.
Bitcoin dropped over 6% on Thursday to around $84,000, dragging down other major cryptocurrencies amid fears over heavy AI spending by tech giants. The sell-off coincided with declines in tech stocks following Microsoft's earnings report, while the Federal Reserve held interest rates steady. Liquidations of leveraged positions exceeded $650 million, mostly from bullish bets.
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A recent SEC filing outlines a proposed cryptocurrency exchange-traded fund (ETF) tracking an S&P index, with bitcoin, ethereum, and XRP as the leading assets. This development highlights potential for concentrated exposure to top digital assets in U.S. markets. Regulators are currently evaluating structures for index-based crypto funds.
Cathie Wood's ARK Invest has boosted its holdings in crypto-related companies as prices decline across the sector. On Friday, the firm purchased shares in Coinbase, Circle, and Bullish, signaling continued institutional interest. This move comes alongside announcements from major players like UBS and PwC affirming crypto's growing legitimacy.
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On January 25, 2026, Bitcoin dropped below $88,000, triggering $135 million in long liquidations and contributing to a broader crypto market decline. The total market capitalization fell below $3 trillion after shedding $220 billion over the past week. Ethereum also tumbled to $2,800 as bearish patterns and macroeconomic risks weighed on investor sentiment.
Institutions call crypto a bear market but deem bitcoin undervalued
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