Why Is Crypto Down Today? – February 2, 2026
The crypto market is down right now once more. It began the week by falling 2.9% over the previous 24 hours and pulling again to $2.65 trillion. Moreover, 91 of the highest 100 cash noticed their costs lower on this interval. The complete crypto buying and selling quantity stands at $199 billion, an analogous degree seen within the earlier days.
Crypto Winners & Losers
The week, and the month for that matter, started within the pink. On Monday morning (UTC), all prime 10 cash per market capitalisation have seen their costs drop.
is down 7.2%, altering arms at $2,225. This is the second-highest drop within the class.
The fall is 7.7% by Lido Staked Ether (STETH), at present standing at $2,224.
XRP (XRP) is subsequent, with a 4.3% drop, now buying and selling at $1.58.
On the opposite hand, the smallest lower among the many prime 10 is 1.3% by Tron (TRX), altering arms at $0.2829
Dogecoin (DOGE)’s 1.5% to $0.1032 is subsequent, adopted by BTC.
Furthermore, of the highest 100 cash per market cap, 91 have posted value decreases right now.
Of these, one noticed a double improve. MYX Finance (MYX) is up 12.8% to the value of $5.7.
MemeCore (M) appreciated 7%, buying and selling at $1.33, whereas the remainder of the inexperienced checklist is up 4% and fewer.
As for the pink checklist, Monero (XMR) fell 8.7% to the value of $396, adopted by Kelp DAO Restaked (ETH RSETH)’s 8.1% drop to $2,376
‘The Market is Playing Out as Expected’
John Glover, Chief Investment Officer of Ledn, argued {that a} sense of panic had entered the BTC market final week because the coin fell under $84,000. The market hadn’t closed under this value since April 2025, Glover famous.
And but, from an Elliott Wave perspective, the market is enjoying out as anticipated.
“We stay in Wave IV and search for this to finish someplace between $71,000 and $84,000.” He provides: “Looking to build up BTC between these costs after having closed lengthy positions at $117,000 as soon as the Wave III prime fashioned at $124,000.”
Moreover, Glover doesn’t see Wave V starting till the second quarter of this 12 months. Once it does begin, his goal can be $140,000 to $165,000, he mentioned.
“I’ll be higher capable of scale back this vary as soon as we all know the place Wave IV completes. This depend can be confirmed mistaken if we shut under $67,000 this 12 months,” the CIO concluded.
Closing the week, Glassnode analysts famous that the most recent information from the US (which had come out by Friday) pulled crypto down.
More particularly, the nomination of Kevin Warsh as the new Federal Reserve Chair and “a hotter-than-expected PPI triggered a hawkish shock,” the analysts mentioned.
Levels & Events to Watch Next
At the time of writing on Monday morning, BTC was altering arms at $76,472. It has been a comparatively calm day for the coin by the point of writing. It slowly decreased from the intraday high of $79,049 to the day’s low of $74,591.
Over the previous week, ETH dropped 13%, buying and selling throughout the $75,442–$90,117 vary. It additionally fell 15% up to now 30 days and just under 40% from its all-time high of $126,080, recorded in October 2025.
Further decreases might see BTC’s value pull to $72,400, adopted by the $70,100 and $68,000 zones.
At the identical time, Ethereum was buying and selling at $2,225. Its highest level was $2,432, seen firstly of this present day. It regularly fell to the intraday low of $2,166, recovering considerably since then.
Moreover, ETH decreased by 28.2% over the previous month. It can be down 55% from the ATH of $4,946, posted 5 months in the past.
Should ETH drop additional, it can discover itself under the $2,000 degree, which might mark a major shift. It might pull again to the $1,900 and $1,850 ranges.
Meanwhile, over the weekend, the crypto market sentiment posted a significant lower, exiting the worry zone and plunging decrease.
The crypto worry and greed index right now stands at 18, in comparison with 28 on Friday and 26 on Saturday. With this transfer, it has entered the acute worry zone.
This transfer showcases the numerous fear permeating by way of the markets. It additionally highlights heightened threat avoidance amongst market contributors. It’s at present unclear if the index will be capable to pull upwards this week to any notable degree.
ETFs Continue the Red Streak
The US BTC spot exchange-traded funds (ETFs) closed final week and month with one other high outflow degree. They recorded $509.7 million in damaging flows on Friday, 30 January. With that, the full web influx dropped to $55.01 billion.
Of the twelve ETFs, one is pink, whereas three are inexperienced. Yet the three’s collective influx wasn’t sufficient to show the class inexperienced for the day.
Ark & 21Shares took in $8.34 million, adopted by Fidelity’s $7.3 million and VanEck’s $2.96 million in inflows. However, BlackRock posted $528.3 million in outflows.
Moreover, the US ETH ETFs additionally posted inflows through the Friday session, greater than these recorded on Thursday, letting go of $252.87 million. The complete web influx fell under $12 billion and now stands at $11.97 billion.
Of the 9 ETH ETFs, two noticed outflows, and none recorded inflows. BlackRock is on the prime of this quick, pink checklist with outflows of $157.16 million. Fidelity follows with $95.71 million in damaging flows.
Meanwhile, Michael Saylor’s Strategy has seen its Bitcoin stack turn unprofitable after BTC fell under the $76,000 degree. This implies that the value dropped under Strategy’s common holding price of $76,037 per coin.
Therefore, provided that it holds 712,647 BTC, the corporate faces an unrealised lack of over $900 million. Nonetheless, it appears it won’t be slowing down with its accumulation plan.
Moreover, Bitcoin falling under the typical price foundation of US spot Bitcoin ETFs left the typical ETF buyer underwater.
Quick FAQ
- Did crypto transfer with shares right now?
The crypto market noticed a notable lower over the previous 24 hours. Meanwhile, the US inventory market closed the Friday session decrease. By the tip of buying and selling on 30 January, the S&P 500 was down 0.43%, the Nasdaq-100 decreased by 1.28%, and the Dow Jones Industrial Average fell by 0.36%. Nonetheless, the S&P 500 and the Dow ended January within the inexperienced. Market contributors had been digesting the December Producer Price Index report, in addition to the US President’s Federal Reserve chair announcement.
- Is this drop sustainable?
The decreases are more likely to proceed within the quick time period. Market contributors are trying to find alerts that will point out how lengthy the decline will final and what awaits within the mid to long term. Moreover, they’re ready to see if we’ll be getting into the bear market quickly.
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