Crypto news & updates in breif | 7 Feb 2026
On February 7, 2026, the cryptocurrency market staged a strong recovery, with total market capitalization climbing roughly 7.5% to $2.41 trillion. This rebound followed a volatile week where Bitcoin briefly dipped toward the $60,000 support zone before surging back near $70,000.
Major Market Updates
Bitcoin Recovery: BTC led the market turnaround, trading between $65,550 and $71,751 over a 24-hour period. While it hit a low of $59,800 on February 6, it stabilized as buyers reacted to major demand zones.
Altcoin Performance: Most major cryptocurrencies saw significant gains. Ethereum (ETH) rose over 6% to ~$2,090, while XRP and Solana (SOL) posted increases of 7.79% and 6.48% respectively.
Sentiment Shift: Despite the price bounce, the Fear and Greed Index remained at an extreme low of 7 (Extreme Fear), reflecting ongoing cautiousness among retail investors following the recent steep selloff.
Top News Headlines
Bithumb's $44 Billion Blunder: South Korean exchange Bithumb accidentally distributed 620,000 BTC (worth ~$44 billion) to customers as part of a promotion intended to give away small cash rewards. The exchange restricted trading within 35 minutes and successfully recovered 99.7% of the funds.
China's Tightened Curbs: China issued new restrictions on stablecoins linked to the yuan, banning domestic entities from issuing tokens offshore without approval to protect monetary sovereignty.
India's Budget 2026 Impacts: The Indian government introduced strict new reporting rules for crypto. Platforms now face penalties of ₹200 per day for non-filing and ₹50,000 for misreporting transaction data, effective April 1, 2026.
ETF Developments: 21Shares filed for an Ondo ETF, and BlackRock took its first step into DeFi by listing its BUIDL fund on Uniswap.
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