Market Overview - Bitcoin has experienced a significant decline, dropping to nearly $60,000, which represents a 30% drawdown over the past month and nearly 50% from its peak [1] - The recent selloff is attributed to poor US job market data, marking the worst January since 2009, with over 100,000 job losses [2] - Major market indices such as the S&P 500, Nasdaq, and Dow Jones Industrial Average fell over 1% following the job market news [2] Analyst Insights - Bloomberg Intelligence strategist Mike McGlone suggests that the cryptocurrency market is facing a boom-and-bust cycle, exacerbated by the political landscape, particularly the implications of Trump's 2024 election campaign [1] - McGlone has predicted that Bitcoin could drop to $10,000 amid a market crash similar to the 2008 financial crisis [3] - The competition for investor attention has intensified, with the emergence of numerous altcoins, leading to a dilution of Bitcoin's unique position in the market [4] Macro Factors - The nomination of Kevin Warsh as the next Federal Reserve chair has raised concerns among crypto and stock investors due to his hawkish stance on monetary policy [6] - Overall liquidity conditions in the market have tightened, contributing to the current bearish sentiment [7] Market Cycles - The traditional four-year boom-and-bust cycle in the cryptocurrency market is currently in effect, linked to Bitcoin's halving events [8] - The current reward for confirming blocks of transactions is 3.125 Bitcoin, which is expected to decrease to approximately 1.56 Bitcoin by the next halving in 2028 [9]

Core Viewpoint - The narrative of a supercycle in cryptocurrency has been significantly challenged as Bitcoin (BTC) and Ethereum (ETH) prices have dropped sharply, leading to a crisis of confidence in the market [1][3]. Market Performance - The total cryptocurrency market capitalization has decreased to $2.3 trillion, reflecting a 7% decline in a single day, nearly half of its peak at $4.2 trillion [2]. - Over $2.6 billion in value was lost in one day, with Bitcoin long positions worth over $2.1 billion being wiped out [3]. - The market has lost nearly $1 trillion since mid-January, with analysts suggesting potential scenarios for Bitcoin to drop to $40,000 [5]. Sentiment and Analysis - The current sentiment surrounding BTC and ETH is at a low point, with both cryptocurrencies not adhering to previous narratives [1][3]. - The debate over the supercycle has shifted from analytical to emotional, indicating a significant change in market psychology [3]. Technical Indicators - Bitcoin's price drop from $70,000 to $60,000 has pushed momentum indicators into extreme territory, with the daily RSI nearing 22, lower than during the "Covid Crash" [7]. - A rebound could target the $75,000 zone if trading volume supports it, but failure to maintain this level could lead to a drop to $40,000 based on Fibonacci retracements [7]. Adoption and Developments - Despite the market turmoil, there are ongoing developments in cryptocurrency adoption, such as Sberbank in Russia preparing to offer crypto-backed loans for corporates [6]. - Binance's CEO continues to advocate for the integration of national currencies on-chain, while Coinbase's CEO draws parallels between cryptocurrency and AI as interconnected fields [6].

Core Insights - MYX Finance has experienced a significant rally, gaining 32% over the past six days, trading near $6.40, despite broader market weaknesses and Bitcoin's decline towards $65,000 [1][7] - Investor confidence remains strong, as indicated by steady capital inflows and positive Chaikin Money Flow (CMF) readings, suggesting accumulation and increased participation [2][3] - However, derivatives data indicates caution, with a sharp drop in MYX's funding rate into negative territory, reflecting a dominance of short positions, which may pressure price stability [5][6] Market Performance - MYX's price has outperformed the broader market, maintaining above the key support level of $5.99, which has acted as a significant demand zone [7] - The immediate objective for MYX is to reclaim $6.87 as support, which could facilitate a further advance towards the $7.49 resistance zone [8] Investor Sentiment - Sustaining the current momentum is contingent on continued investor conviction and inflows to counteract skepticism from derivatives markets [8] - A renewed sell-off in Bitcoin could negatively impact MYX, despite a limited correlation, and failure to hold the current support may lead to a gradual pullback [9]

Core Viewpoint - Bitcoin has experienced a significant decline, reaching a 15-month low, with a recent modest recovery in trading prices [1]. Price Movement - Bitcoin's price fell to just above $60,000 before recovering to around $64,948, marking a 3.3% increase [1]. - This represents a 47% decrease from its peak of $122,200 in October of the previous year [2]. Market Influences - The decline in Bitcoin's value occurred despite support from US President Donald Trump, who has implemented pro-crypto policies [3]. - Analysts attribute market concerns to Trump's nomination of Kevin Warsh to lead the US Federal Reserve, who is anticipated to favor higher interest rates, negatively impacting speculative assets like cryptocurrencies [4]. Broader Market Impact - Other cryptocurrencies, including Ethereum and Solana, have also faced significant losses, contributing to a total market decline of over $2 trillion since the peak in October [4]. - Analysts have indicated that Bitcoin could potentially drop below $40,000, highlighting a correlation between cryptocurrency valuations and the strength of the US dollar [5].

We recently published 10 Big Names, Bigger Losses. MARA Holdings Inc. (NASDAQ:MARA) was one of the worst performers on Thursday. MARA Holdings fell for a 7th day on Thursday to touch a new 52-week low, mirroring the drop of its peers and Bitcoin prices following the Treasury Department’s comments that it does not have the authority to support Bitcoin and other cryptocurrency assets. During the session, MARA Holdings Inc. (NASDAQ:MARA) dropped to as low as $6.66 before trimming gains to end the day just d ...

Core Viewpoint - Bitcoin experienced a significant price drop, reaching a low of $59,800 before rebounding, but still showing a decline of over 6% compared to the previous trading day [1][2]. Price Movement - As of 13:50, Bitcoin's price recovered to around $66,000, but the 24-hour price fluctuation was 17% [2]. - Over the past 12 months, Bitcoin started at approximately $96,000, peaked at $126,000 in early October, and has since declined to around $64,000, nearly halving its market value from the October high [5]. Market Capitalization - The total market capitalization of cryptocurrencies reached a high of $4.4 trillion in early October 2025, but has since fallen to over $2 trillion, indicating a significant loss in value [3]. Volatility and Liquidations - The recent price drop led to massive liquidations, with $1.332 billion liquidated in the past 24 hours, including $1.081 billion from long positions and $251 million from short positions [7][9]. - More than 570,000 traders faced liquidations globally, with Bitcoin accounting for over 50% of the total liquidation amount [9]. Broader Market Impact - Other major cryptocurrencies, including Ethereum and Dogecoin, also faced declines exceeding 6% [9]. - The market downturn is attributed to multiple factors, including concentrated leverage unwinding and investor concerns regarding potential shifts in monetary policy, particularly with the nomination of a hawkish Federal Reserve chair [11].

Core Insights - The crypto market is experiencing significant liquidation events, with over $2.65 billion liquidated in just 24 hours, indicating structural weaknesses within the market [2][4] - A recent analysis suggests that the current downturn is not a short-term shock but a structural decline that has been developing since October of the previous year [3][4] - The market is facing challenges such as weak liquidity, negative sentiment, and cascading liquidation pressures, which are creating a recurring cycle of damage to market sentiment [4] Liquidation Events - Total liquidations in the crypto market reached $2.65 billion in the last 24 hours, with long positions accounting for more than $2.2 billion of this total [2] - The smallest event in the Top 10 Crypto Liquidation Events occurred on January 31, with $2.56 billion in liquidations, suggesting potential for a reshuffle in rankings [3] Market Conditions - Bitcoin's market depth has decreased to only 30% of its peak in October, contributing to intraday price swings of up to $10,000 [4] - The current market environment mirrors the post-FTX collapse seen in 2022, highlighting ongoing vulnerabilities [4] Technical Analysis - Veteran technical analyst Peter Brandt forecasts that Bitcoin could trade within a "banana peel" range, with potential support near $42,000 [6]

Coinbase Global, Inc. (NASDAQ:COIN) stands out as one of Cathie Wood’s 10 stock picks with huge upside potential. Coinbase Global (COIN) Retains Analyst Confidence As Firms Weigh Growth Against Volume Pressures As of February 2, 2026, roughly 70% of analysts remain bullish on Coinbase Global, Inc. (NASDAQ:COIN), with the consensus median price target impying a 74.60% upside. The analyst’s confidence is based on the company’s long-term growth trajectory and platform evolution. On January 28, 2026, Coinba ...

Group 1 - Bitwise has filed with the US SEC to launch the first ETF dedicated to Uniswap, marking a significant moment for decentralized finance (DeFi) [1][2] - The ETF aims to provide exposure to the value of Uniswap (UNI) held by the Trust, minus operational expenses and liabilities [2] - Bitwise registered a Delaware statutory trust for the Uniswap fund on January 27, a preliminary step before the SEC filing [3] Group 2 - The SEC previously investigated Uniswap Labs for operating as an unregistered securities exchange but backed off in February 2025 [4] - If approved, Coinbase Custody Trust Company will serve as the custodian for the Bitwise Uniswap ETF [4] - The UNI token has dropped 16.59% to $3.15 in the last 24 hours, reflecting a broader market downturn [5][6]

Bitcoin tumbled more than 10% toward $64,000, extending a brutal week for crypto as selling pressure spread across risk assets and shook markets from New York to Asia. The drop dragged Bitcoin to its weakest level since late 2024, reversing momentum that had built after Donald Trump’s election win, when he signalled a more supportive stance on crypto during the campaign trail. Crypto losses came as investors dumped tech stocks and even safe-haven trades turned jumpier. Volatility in precious metals also ...