Crypto Market in Breif | 7 Feb 2026
On February 7, 2026, the global cryptocurrency market experienced a tentative recovery following a period of extreme volatility and a significant sell-off. The total cryptocurrency market capitalization stood at approximately $2.33 trillion, reflecting a 3.45% increase over the preceding 24 hours.
Market Performance Summary
Despite the daily rebound, market sentiment remained in a state of "Extreme Fear," with the Fear & Greed Index hitting a rare low of 7/100.
Bitcoin (BTC): Traded between $65,550 and $71,751. It closed the day at approximately $69,319.50, a slight decline from its opening price as it struggled to maintain momentum above the $70,000 psychological barrier.
Ethereum (ETH): Showed resilience, trading around $2,063 to $2,091. It saw a daily gain of about 1.15% to 1.39% as it attempted to stabilize above $2,000.
Altcoins: Performance was mixed but generally positive during the rebound. XRP notably outperformed the broader market with an 18.6% surge to $1.53 following news of DeFi expansion strategies. Other gainers included Litecoin (up 10.2%) and Cardano (up 10.0%).
Key Market Drivers
Institutional Activity: While spot ETFs saw limited outflows, institutions continued to buy the dip, with some analysts maintaining long-term year-end targets of $150,000 for Bitcoin despite recent "crisis of confidence".
Liquidations: The week leading up to February 7 was marked by massive liquidations exceeding $2.5 billion in 24 hours, which fueled
the initial market crash before the Saturday stabilization.
Macro Environment: Global markets showed signs of recovery as macroeconomic concerns eased slightly, aided by a record close for the Dow Jones and a proposed framework for a U.S.-India interim trade agreement.
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