Market Bloodbath: BTC Dips Below $77K, ETH Under $2.3K, BNB Slides – What's Driving the Sell-Off?
The broader crypto market is in the red today (February 2, 2026), as Bitcoin (BTC), Ethereum (ETH), and BNB lead the pullback amid heightened volatility.
Key highlights from Binance Square and market updates:
- "Bitcoin" has dropped below $77,000 USDT, down around 5.20% in the last 24 hours.
- "Ethereum" fell below $2,300 USDT, with a sharper 9.70% decline.
- "BNB" slipped below $760 USDT (and further toward $750 in updates), down about 7.23–7.44%.
This comes amid broader macro concerns, including Fed uncertainty, precious metals turbulence, potential US government shutdown risks, and ongoing debates around recent liquidation events (like the October flash crash fallout still echoing in discussions). Whale movements, such as large ETH deposits to Binance after heavy liquidations, are also adding to the chatter.
Despite the red charts, this could be a classic "fear" phase where patient traders accumulate (Extreme Fear sentiment prevails). Binance continues rolling out updates like new perpetual contracts (e.g., INTCUSDT and HOODUSDT coming soon) and funding rate adjustments for commodities.
What’s your take? Are we bottoming soon, or more pain ahead? Drop your analysis below! 📉🚀