币盈Anna

On February 6, the cryptocurrency market faced the most severe test since the start of this bull market. Bitcoin historically dropped below the psychological threshold of $60,000 in the morning, hitting a low of $59,896, before staging a nearly 10% violent rebound, rising back to around $65,700; Ethereum also plummeted, once piercing below $1,800, with a minimum reaching $1,741.#全球科技股抛售冲击风险资产

This sharp decline was triggered by a quadruple resonance of macro pressures, regulatory concerns, institutional sell-offs, and technical breakdowns. Although there was a retaliatory rebound, the market trend has been fundamentally damaged, and the short-term rebound should be seen as a window for reducing positions and adjusting allocations, rather than a signal of trend reversal.

On February 5, Bitcoin and Ethereum continued to show a one-sided weakness, continuously refreshing recent lows, completely breaking away from the strong pattern of the year, entering a deep defensive bottoming stage.
Bitcoin fluctuated yesterday and dipped twice, reaching a low of $71,638, currently weakly oscillating around $72,200; Ethereum also dropped sharply to a low of $2,075, rebounding before falling again, currently hovering around $2,130. The market shows a typical weak pattern of **'lower lows and lower highs'**.

1. The core driving logic behind this round of plummet
The core driving force behind this round of decline has fundamentally changed:

Market Overview


After experiencing a macro storm and liquidity crisis at the end of January, the cryptocurrency market has started a technical rebound at a critical low, still in the repair and bottoming phase, not a trend reversal, but rather the first intense game between bulls and bears at a key position after a sharp decline. Bitcoin rebounds relying on support at $74,500-$75,000, facing resistance at $79,500-$80,000; Ethereum's movement is correlated but weak, with a rebound hampered at $2,400, overall fund preference and speculative enthusiasm are both lacking.

Core Contradiction

- Suppressive Factors: The expectation of a hawkish shift by the Federal Reserve suppresses risk appetite, institutional ETF fund inflows are cautious, trading in the derivatives market is quiet, and selling pressure from short-term holders creates resistance.

Market overview: Both cryptocurrencies weakened collectively, support turned into resistance with intensified selling pressure.

At the beginning of the year, the strong expectations were completely reversed. Bitcoin and Ethereum fell sharply and then weakened after the decline, with key support continuously being breached and rebound momentum extremely lacking.

- Bitcoin: Plummeted from around 83000 to 75636, the 77000-79400 fluctuation range was broken, lowest dipped to 75658, rebounded to 78000 and then weakened again to around 76500, the 80000 level turned from support to strong resistance;
- Ethereum: Overall performance weaker than Bitcoin, fell sharply from 2680 to 2231, the 2370-2470 fluctuation range was broken, lowest reached 2219 refreshing recent lows, the 2500 level became strong resistance, currently consolidating around 2270.

On January 30, 2026, the cryptocurrency market experienced a comprehensive sell-off due to drastic changes in macro expectations, with Bitcoin and Ethereum both plummeting significantly. Market sentiment shifted from greed to fear, leading to a short-term weak and volatile pattern. Below are the core analysis and key points of this market situation.

1. Core reasons for the market crash

1. The Federal Reserve's unexpectedly hawkish stance has shaken confidence in interest rate cuts, breaking the core logic of liquidity easing that previously supported the market's rise;
2. The epic surge in gold has created a capital absorption effect, with funds flowing from high-risk assets like cryptocurrencies to traditional safe-haven assets. The increased allocation of Tether to physical gold further exacerbates the panic of capital diversion;

Core Conclusion: The Federal Reserve's hawkish decision suppresses the market, with Bitcoin and Ethereum both breaking key support levels. The technical structure has weakened in the short term, and the market has shifted from offense to defense. The strategy is primarily cautious observation and defense, waiting for stabilization signals, with evening inflation data being an important catalyst.

1. Overall Market Overview

Affected by the Federal Reserve's hawkish speeches, risk assets have broadly declined, and the digital currency market has retraced across the board. Core cryptocurrencies have all broken recent key support levels, with sentiment shifting rapidly from optimism to caution.

- Bitcoin: Fell from a high of $90,587 to a low of $87,650, currently reported around $87,800, breaking key support at $88,000;

Core conclusion: BTC and ETH are consolidating at high levels, presenting a converging structure of 'higher lows and lower highs', temporarily balanced between bulls and bears, with insufficient momentum for chasing prices; market focus is locked on the January 29th Federal Reserve FOMC meeting decision, as macro signals will determine the short-term direction. Combined with the drastic drop in Bitcoin's overall network computing power, the day will mainly focus on light-position range trading, strictly controlling positions while waiting for clear guidance to prevent sudden fluctuations.

I. Overall market overview

1. Intraday trend: BTC fell back after reaching 88779 yesterday, rebounding to 89492 this morning before being pressured and fluctuating around the 89000 mark; ETH broke through 3000 but encountered resistance at 3033. Both are synchronously entering a high-level narrow range fluctuation, showing characteristics of 'bottoming out after repair' but lacking upward momentum.

Core conclusion: BTC and ETH experienced intraday highs and then fell back, with diminishing rebound momentum, both reaching the end of short-term directional choices; the Federal Reserve's policy window is suppressing sentiment, crypto funds continue to flow out, market liquidity is tight, and this evening faces a choice of direction. Before breaking through key levels, focus primarily on range trading while strictly controlling positions to prevent the risk of a second bottom.

1. Overall market overview

1. Intraday trend: BTC rose to $88,955 before falling back to around $88,000, and ETH failed to stabilize above $2,950, retreating to $2,910 with fluctuations, both showing a trend of rising and then falling back, with rebound momentum showing signs of weakness.