TL;DR
- Bitcoin Pullback: BTC’s weekend rally failed at just over $70,000, sending the asset back to $68,000 before a mild recovery to $68,700.
- Altcoin Weakness: ETH fell below $2,000 to $1,970, XRP slid to $1.48 after a sharp rejection, and DOGE dropped to $0.10 following a 9% daily loss.
- Market‑Wide Losses: XMR, ZEC, WLFI, MNT, and PI posted notable declines, while the total crypto market cap shed $70 billion, falling to $2.425 trillion as broader sentiment weakened.
Yesterday’s brief market rebound proved short-lived as the crypto market reversed course, sending major assets back into the red. Bitcoin’s weekend rally stalled just above $70,000 before sellers pushed the asset down to $68,000, where it managed to find temporary support. The downturn spread quickly across the altcoin market, with ETH sliding below $2,000 and XRP dropping under $1.50. Dogecoin, which had been among the top gainers a day earlier, also suffered a sharp pullback.
BTC Rejected After Weekend Highs
Bitcoin entered the month with heightened volatility that leaned decisively downward. The most dramatic moment came on February 6, when BTC plunged to a 15‑month low of $60,000 after shedding $30,000 in under two weeks. A swift rebound followed, lifting the asset to $72,000 before it settled into a tight range between $72,000 and $68,000. That structure broke mid‑week as BTC slipped under $66,000, only for bulls to step in and halt further losses.
Momentum returned late in the business week, propelling bitcoin above $69,000 and then over $70,000 through Saturday and Sunday. The rally was short-lived. Sellers regained control on Sunday evening, driving Bitcoin back to $68,000. The asset has since recovered slightly but remains below $69,000 at press time. Its market cap has fallen to $1.375 trillion on CG, while dominance over altcoins holds at 56.6%. Updated data shows BTC trading near $68,700, down more than 2%.
ETH, XRP, and DOGE Lead Altcoin Declines
Ethereum was rejected at $2,100 over the weekend and now struggles beneath $2,000, trading around $1,970 after losing more than 4%. XRP, which briefly surged above $1.65 yesterday, has fallen to $1.48 after shedding more than 5%. DOGE, the previous day’s standout performer, is now down to $0.10 following a 9% daily decline.
Losses extended across the market, with XMR, ZEC, WLFI, and MNT among the biggest decliners. Pi Network’s token also faced a steep rejection, falling from above $0.20 to just over $0.17. The total crypto market cap has erased $70 billion in a single day, dropping to $2.425 trillion on CG. SOL trades at $85 after a 4% decline, while BNB sits at $617 following a nearly 2% loss.