February 2 News, the cryptocurrency market has once again experienced intense volatility. In the past 24 hours, the overall market capitalization has decreased by approximately 2.66%, evaporating to about $2.58 trillion. A high-leverage position worth as much as $704 million was forcibly liquidated, triggering a chain reaction that led to panic selling. Bitcoin fell below the $80,000 mark, Ethereum retreated below $2,300, and mainstream tokens such as XRP, ADA, BNB, SOL, and DOGE all weakened simultaneously, with market sentiment clearly under pressure.
Some analysts point out that this downward move may be one of the most severe corrections since 2026. Data shows that the correlation between crypto assets and gold prices has risen to 63%, indicating that macroeconomic variables are now dominating the trend of risk assets. Investors are generally paying close attention to a series of key events this week, which could determine the short-term direction of Bitcoin prices and the crypto market.