Why Crypto Market Is Down Today? BTC and ETH Fell Over 10% in 24 Hours

Crypto Market Crash Today: DeFi Dips 11%, Fear Index Hit Extreme Low 9

Key Highlights:

• Crypto market capitalization falls by 10.3% to $2.27T.

• BTC and ETH pull back 11-12% with sentiment in Extreme Fear (9).

• The industry is influenced by mining pressure, ETF filings, and Tether investments.

Overall Cryptocurrency Update 6 Feb 2026: It took a very negative turn in the past 24 hours, and Bitcoin and Ethereum were down by a wide margin. The fear index increased, and mining profitability decreased due to the continuing institutional developments.

Major Crypto Market Events Today

Source: Forex Factory

Crypto Market Last 24 Hours Update: Prices, Volume & Trends

The global cryptocurrency market crash today reached a capitalization of $2.27 trillion, noted a shocking decline of 10.3% in the last 24 hours, whereas Total trading volume recorded at $341.8 billion.

Bitcoin’s (BTC) dominance over the industry remains intense, with 56.3%, while Ethereum (ETH) carries 10%. The largest gainers of the industry are Polkadot and XRP Ledger Ecosystem in the past day.

Bitcoin (BTC) and Ethereum (ETH) Price Analysis:

(Note: BTC and ETH are often viewed as less volatile historically, but still risky. The data recorded from CoinMarketCap)

• Bitcoin (BTC) price today reached $64635.46, sharply crashing by 10.93% in the last 24 hours, with a trading volume of $141.93 billion and a BTC market cap of $1.28 trillion.

• Ethereum (ETH) price today is at $1906.07, sinks 11.9% in 24 hours with a trading volume of $71.17 billion and a market cap of $229.84 billion.

Top Trending Crypto Coins Price in 24 Hours:

(Trending data is based on a combination of 24-hour price movement, trading volume, and CoinMarketCap.com trending metrics.)

• Bitcoin price crash (BTC): $64,113.26, shrinks 11.76% in the last 24 hours, trading volume (TV): $142.11B.

• Ethereum price (ETH): $1,896.21, pulls back 12.04%, TV: $71.7B.

• XRP price (XRP): $1.24, down 16.29%, TV: $12.69B.

• Solana price (SOL): $77.29, dips 16.25%, TV: $12.72B.

• BNB price (BNB): $620.69, lower by 11.12%, TV: $5.47B.

Top 3 Crypto Gainers in 24 hours:
(Ranked by 24-hour percentage gain)

• Decred price today (DCR): $20.47, rises 4.43%, trading activity $11.33M.

• MYX Finance price today (MYX): $6.32, gains 4.42%, trading activity $31.64M.

• MemeCore price today (M): $1.50, up 0.95%, trading activity $14.64M.

Top 3 Crypto Losers in 24 hours
(Ranked by 24-hour percentage loss)

• UNUS SED LEO price (LEO): $6.88, plunges 22.53%, trading activity around $9.92 million.

• Monero price (XMR): $294.81, lower by 22.38%, with trading volume near $154.14 million.

• Optimism price (OP): $0.1777, slips 19.08%, trading activity close to $191.71 million.

Stablecoins and Defi Update:

• Stablecoins reflect no positive change over the past 24 hours, with a market capitalization of $309.6 billion and trading volume of $285.6 billion.

• The Overall (Defi) Decentralized Finance market sharply fell 11.1% over the last 24 hours, recording a market cap of $47.4 billion and trading volume (TV) at $11 billion. Defi dominance globally marked 2.1%.

Bitcoin Fear and Greed Index Today

Source: Alternative Me

Today’s Crypto Fear and Greed Index is 9 (Extreme Fear), down from yesterday’s 12 and last week’s 16, but below last month’s 42. Declining prices, liquidations, and weak sentiment increase risk aversion, signaling cautious investors and potential accumulation opportunities ahead. 

Latest Crypto Market News Today, Feb 6

(Note: All of these updates have an effect on traders, as they affect liquidity,  sentiment, and potential returns, and thus have to be monitored closely.)

1. Prediction Markets Are Attracting Investors: The Charles Schwab CEO, Rick Wurster, stated that the prediction markets provide investors with probability information, with Kalshi and Polymarket volumes rising to $17.5 billion, despite regulatory difficulties in the recent past.

2. Tether Enlarges Gold Strategy and Digital Banking: Tether invested in USAT banking, XAUT integration, and purchasing digital gold projects that are under regulatory scrutiny by investing $100 million in Anchorage Digital and $150 million in Gold.com.

3. Bitcoin Mining Profitability Records Lowest: Bitcoin mining profitability is at an all-time low, with the hash price reaching at least $0.03 per terahash. The anticipated easing of the problem is a relief, but energy costs are straining miners worldwide.

4. Uniswap ETF Bitwise Files: Bitwise submitted an S-1 with the SEC on a spot Uniswap ETF. Coinbase Custody will protect assets, and staking can be introduced in the future by amendment.

5. Tether invests in Gold.com Partnership: Tether invested 12% of Gold.com, which they acquired at $150 million, to integrate with XAUT and test the option of purchasing physical gold through USDT and USAT to reach the rest of the world.

6. Bitcoin Weakens Below Key Support Levels: Bitcoin drops near $67,000, below key averages and cost levels, raising miner capitulation fears as analysts warn of possible declines toward $58,000, $45,000, or $35,200 targets.

Comparative Insight

The current Fear and Greed Index of 9 is a stark contrast to the index of 42 that was recorded last month. As major cryptocurrencies are plummeting, smaller ones are performing inconsistently, which points to uncertainty, liquidity strain, and reserved investor investment.

What This Means for Cryptocurrency Users

Such a fall is an indication of increased volatility and an emotional trading environment. The users of crypto can face a quick price fluctuation, reduced confidence, and pressure on liquidity, which makes risk management, diversification, and close attention to macro and technical indicators more significant than ever.

Risk Context: It is not a long-term conditions commentary but a simple informational commentary that does not indicate the direction of the price or an action to be taken on investment.

CoinGabbar’s Opinion

According to the 24-hour update, the crypto investment is extremely risky in the short-run because of the downward-trending prices, pressure on miners, and the high-level of fear, but long-term investors can have a gradual accumulation opportunity in the industry corrections.

Disclaimer: This content is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile and risky. Always conduct your own research and consult a qualified financial advisor before making investment decisions. Not all regions can offer some of the services or assets discussed.