New Delhi (TIP)- The sell-off within the crypto markets intensified on Friday, Feb 6, with the flagship token Bitcoin plunging to $60,074, its lowest degree since October 2024. The downturn was equally pronounced throughout the altcoin space, with Ethereum (ETH) slipping below the $1,800 mark, whereas XRP, Solana (SOL) and BNB fell greater than 13 %.
Notably, crypto markets have remained below stress since October final yr, after Bitcoin scaled its peak and has since been on a declining trajectory.
At current, Bitcoin faces near-term stress amid tender US jobs information, AI-sector considerations, and elevated promoting, however long-term buyers might even see alternative.
“The current pullback was largely pushed by weaker-than-expected US labor information and mounting worries over heavy capital spending within the AI sector, which have weighed on broader threat sentiment,” mentioned Akshat Siddhant, lead quant analyst at Mudrex. “On prime of that, continued ETF outflows and short-term holders transferring almost 60,000 BTC to exchanges have added additional near-term promoting stress.”
Regardless of the turbulence, Siddhant believes long-term buyers can view the present part as a shopping for alternative. He recommends a disciplined, staggered accumulation technique, noting that $55,500 stays a vital assist degree for Bitcoin, whereas $70,000 serves as rapid resistance.
Tech woes shake international markets
The weak point in digital property mirrors the broader sell-off in international fairness markets. Wall Road’s main indices fell sharply in a single day as heavyweight know-how shares got here below stress. The tech-heavy Nasdaq slid to its lowest degree since November, dragged down by declines in Microsoft, Amazon and different mega-cap shares. Sentiment weakened additional after Alphabet signalled it may double capital expenditure on synthetic intelligence amid intensifying competitors. The S&P 500 fell 1.23 per cent, the Nasdaq declined 1.59 per cent, and the Dow Jones Industrial Common slipped 1.20 per cent.
Within the Asia-Pacific area, South Korea’s Kospi fell as a lot as 5 per cent in early commerce on Friday earlier than paring losses to commerce 3.86 per cent decrease. Japan’s Nikkei 225 declined 1.22 per cent, whereas Australia’s S&P/ASX 200 slipped 1.61 per cent.
Bitcoin, Ethereum prolong losses
Bitcoin, which fell to $60,074, has since bounced off these ranges however continues to commerce decrease. Ultimately examine, the world’s largest cryptocurrency was buying and selling at $64,693, down 10 per cent, with a 24-hour buying and selling quantity of $19.98 billion, in response to CoinMarketCap. Over the previous 24 hours, Bitcoin has swung in a variety of $60,074 to $72,678.
The digital asset is now greater than 48 per cent below its all-time excessive of $126,198, recorded on October 7, 2025, CoinMarketCap information confirmed. Bitcoin’s whole market capitalisation stood at $1.29 trillion, the biggest amongst cryptocurrencies.
Earlier, contracts on Polymarket, a decentralised prediction platform fashionable amongst crypto-native speculators, confirmed an 82 per cent likelihood that Bitcoin would fall to $65,000 this yr, in response to a Bloomberg report. The report added that some merchants have been betting on deeper losses. The odds of Bitcoin ending below $55,000 have risen to round 60 per cent, whereas the likelihood of a rebound to $100,000 has fallen to 54 per cent from 80 per cent in the beginning of the yr.
From a technical standpoint, Bitcoin faces short-term resistance close to $71,000–$72,000, with robust assist between $58,000 and $62,000, mentioned Riya Sehgal, analysis analyst at Delta Alternate.
“If Bitcoin stabilises above this vary, a consolidation part might emerge earlier than a broader restoration,” she added.
Ethereum mirrored Bitcoin’s pattern. Ultimately examine, ETH was buying and selling at $1,910.82, down 9.65 per cent, with a 24-hour buying and selling quantity of $70.51 billion. The token moved between $1,748 and $2,157 throughout the identical interval, in response to CoinMarketCap.
Ethereum’s market capitalisation stood at $231.04 billion, greater than 60 per cent below its peak of $4,953, scaled on August 25, 2025.
Altcoins below stress
Altcoins have been additionally below stress on Friday. UNUS SED LEO (LEO), Monero (XMR), Optimism (OP), OFFICIAL TRUMP (TRUMP), Jupiter (JUP), Zcash (ZEC), Sui (SUI), NEAR Protocol (NEAR), Aave (AAVE), World Liberty Monetary (WLFI), Bonk (BONK), Virtuals Protocol (VIRTUAL), Uniswap (UNI), Filecoin (FIL), Aptos (APT), Mantle (MNT), Pepe (PEPE), Bitcoin Money (BCH), Pudgy Penguins (PENGU), Synthetic Superintelligence Alliance (FET), Ondo (ONDO), Ethena (ENA), LayerZero (ZRO), Worldcoin (WLD), Arbitrum (ARB), Curve DAO Token (CRV), Sprint (DASH), Render (RENDER), and Litecoin (LTC) have been among the many prime laggards, posting losses of as much as 23 per cent.
