February 6 News, the cryptocurrency market experienced another heavy decline on Friday, with Bitcoin, Ethereum, BNB, and XRP all falling by double digits. The leveraged market liquidation amount exceeded $2.5 billion. Data shows that Bitcoin dropped 8.63% in a single day, retreating nearly 18% from the Thursday high of $73,639. During the session, it briefly touched $60,255, the lowest level since October 2024, then rebounded to around $64,600, but still down 34% from the year’s high.
Ethereum declined about 10%, hitting a low of $1,756, marking a nine-month low; BNB briefly fell below $600, with an intraday drop of approximately 11%. Mainstream tokens such as Ripple, Solana, Dogecoin, and Cardano generally fell 12% to 16%. Tokens like LEO, Monero, and Official Trump experienced even sharper declines. The total market capitalization shrank to approximately $2.27 trillion on the day.
The derivatives market saw a sharp chain reaction. Statistics show that about $2.6 billion in positions were liquidated within 24 hours, with nearly 90% coming from long positions. Bitcoin-related liquidations reached $1.08 billion, Ethereum about $455 million, affecting over 590,000 traders.
The immediate trigger for this decline was Bitcoin losing two major leverage zones at $70,000 and $65,000, triggering forced liquidations and creating a negative feedback loop of falling prices and selling. Meanwhile, the weakening of US tech stocks also increased pressure on risk assets, with Microsoft, AMD, and Nvidia experiencing significant corrections recently, leading to more conservative market sentiment.
On the macro level, weak US employment data has generated new uncertainties about economic prospects and monetary policy directions. Institutional demand has also cooled, with continuous outflows from spot Bitcoin ETFs over several days. Additionally, news that the Trump family-backed World Liberty Financial sold Bitcoin before the crash further amplified market volatility.
Sentiment indicators have also declined, with the Crypto Fear & Greed Index dropping to 9, indicating investors are in an extremely cautious phase. In the short term, the market will continue to fluctuate around key support levels.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
BTC 15-minute rise of 0.41%: Spotting-led fund rotation in the short term and ETF net inflows fueling a volatility surge
2026-04-07 17:30 to 2026-04-07 17:45 (UTC), BTC recorded a +0.41% return within 15 minutes. The price range was 68412.0 to 68997.4 USDT, with a swing of 0.86%. During the event window, market attention rose; BTC’s volatility was significantly higher than the day’s average, indicating active short-term trading and improved capital liquidity.
The main drivers behind this deviation were short-term reallocations by major on-chain capital and changes in exchange fund flows. Some large BTC addresses transferred single-transaction BTC amounts to major exchanges during the window
GateNews12m ago
Miner address "3PFNdg" selling 265.19 BTC, worth $18.06 million
Gate News, April 7, according to Lookonchain monitoring, the miner address "3PFNdg" sold 265.19 BTC 1 hour ago, worth $18.06 million. It is reported that the last time this miner address sold Bitcoin was 2 years ago.
GateNews59m ago
“Insiders Dumping Everything Except Oil” Claim Hits Tape: BTC, PI, And XRP Reaction
A viral post claimed insiders were liquidating assets except for oil, reflecting traders' concerns about geopolitical tensions and macroeconomic stress. The narrative highlights oil's resilience amid cautious sentiment in crypto markets like BTC and XRP, impacted by factors like Trump's Iran threats.
LiveBTCNews1h ago
BlackRock extracts 2,607 BTC and 28,391 ETH from a certain custody platform
Gate News message, on April 7, according to Lookonchain monitoring, BlackRock withdrew 2,607 BTC (worth $177.56 million) and 28,391 ETH (worth $59.00 million) from a certain custody platform.
GateNews1h ago
Willy Woo: Energy is the only path to forging hard currency, and Bitcoin is built on that.
Gate News message, April 7, a well-known Bitcoin analyst Willy Woo recently responded to a post questioning that “Bitcoin consumes too much energy.” He said there are only three ways to ensure the safety of a currency’s ledger: relying on physical atoms (like gold), depending on energy consumption (like Bitcoin), and building on social/political consensus (like fiat currency). Willy Woo emphasized that energy is the only path to forging an absolute hard currency, and physical atoms are not scarce.
GateNews2h ago
