Overview of the Sharp Decline in Bitcoin (BTC) and Ethereum (ETH) and the Rise of Hyperliquid (HYPE): A Recap for February 6

Major cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) have seen a significant drop in their market values recently. BTC plummeted to a four-year low, while ETH fell below $2,000. However, Hyperliquid (HYPE) has demonstrated remarkable resilience and has seen a 60% increase in its value over the past fortnight. This negative trend for BTC and ETH is attributed to several factors, including large investors selling their holdings and a decrease in institutional investor interest. Meanwhile, HYPE's rise is linked to multiple advancements and growing interest. The market's current state has led to increased fear among BTC investors, which could indicate a bottoming out of the market.