Is this just another manic Monday? Crypto today is far from a routine, market wobble, everyone pretending this was part of the plan, and bullish news everywhere still. From record-breaking crypto liquidation and some calling off the incoming supercycle, February opened with all the subtlety of a margin call at 3 a.m.
As crypto liquidation stacks up and Ether USD flirts with a psychological cliff, traditional safe havens have started a bad downtrend, too. Gold faceplanted, dropping 4.5% today alone and more than 17% from its all-time high just a few days ago. Gold is now sitting at $4,600 level per ounce, wiping close to $2 trillion off its implied market cap today.
I mean, if an asset that’s been worshipped since Roman times can slide that hard, what’s going to happen to crypto? Or is this just another manic Monday?
Crypto News Today Highlight: Record Crypto Liquidation
The numbers are ugly, even by crypto standards. Crypto liquidation peaked at $2.56 billion on January 31, ranking as the tenth-largest wipeout day in history. Long positions absorbed nearly all the damage, with about $2.41 billion erased as overleveraged bets met reality. These are 10 of the biggest liquidation days in crypto history:
- October 10, 2025 ($19.16 Billion): The largest liquidation in history, triggered by U.S. tariffs on China (100%). Over 1.6 million traders were liquidated as Bitcoin flash-crashed briefly toward $14,500.
- April 18, 2021 ($9.94 Billion): Fueled by rumors of a US AML crackdown and a power outage-induced mining ban in China.
- May 19, 2021 ($9.01 Billion): A “black swan” event following Tesla’s cancellation of BTC payments and China’s reinforced crypto ban.
- February 22, 2021 ($4.10 Billion): A sharp correction after a prolonged overheated uptrend in the early 2021 bull market.
- September 7, 2021 ($3.65 Billion): Occurred on the day El Salvador adopted Bitcoin as legal tender; a “sell-the-news” event that led to a massive dump.
- September 22, 2025 ($3.62 Billion): A major flush of over-leveraged long positions following a shift in global macro signals.
- February 23, 2021 ($3.15 Billion): Triggered after U.S. Treasury Secretary Janet Yellen criticized Bitcoin as “extremely inefficient”.
- April 23, 2021 ($2.92 Billion): Driven by concerns over a proposed increase in U.S. capital gains tax.
- April 16, 2021 ($2.77 Billion): Resulted from Turkey banning the use of cryptocurrencies for payments.
- January 31 – February 1, 2026 (~$2.5 Billion): A recent major crash where Bitcoin fell to $77,000, causing a $2.5 billion wipeout across Bitcoin, Ethereum, and XRP.
Bitcoin
1.37%
Bitcoin
BTC
Price
$62,754.45
1.37% /24h
Volume in 24h
$23.05B
Price 7d
Buy with Best Wallet
slid to around $76,000, down 3% in a single market opening.
Ethereum
0.99%
Ethereum
ETH
Price
$1,782.19
0.99% /24h
Volume in 24h
$8.02B
Price 7d
Buy with Best Wallet
fared worse, tumbling over 22% in a week to roughly $2,200 as we watch $215 million in long liquidations roll in.
Solana
0.33%
Solana
SOL
Price
$76.09
0.33% /24h
Volume in 24h
$1.31B
Price 7d
Buy with Best Wallet
dropped more than 5% today, slipping under $100 with another $36 million flushed out.
XRP
1.44%
XRP
XRP
Price
$1.08
1.44% /24h
Volume in 24h
$874.74M
Price 7d
Buy with Best Wallet
followed along, and Im stopping here.
(source – CoinGecko)
About $200 billion has been liquidated in the last two weeks, making the opening stretch of 2026 very ugly. Forget the news, the crypto total market cap has shrunk by $800 billion from October highs to today, but the chart shows a possible bottom, just like what we have seen in 2022. They are oddly similar.
(source – Total Crypto MarketCap, TradingView)
DISCOVER: 10+ Next Crypto to 100X In 2026
Drama, Drama, Drama
As if the price action wasn’t enough, crypto also delivered a fresh batch of news and drama today. OKX’s CEO accused Binance of contributing to the October 2025 crash via a 12% APY USDe promotion that encouraged leverage loops. According to the claim, risky collateral was treated like a seatbelt, turning a tariff shock into nearly $19 billion in cascading crypto liquidation.
No complexity. No accident.
10/10 was caused by irresponsible marketing campaigns by certain companies.On October 10, tens of billions of dollars were liquidated. As CEO of OKX, we observed clearly that the crypto market’s microstructure fundamentally changed after that day.… pic.twitter.com/N1VlY4F7rt
— Star (@star_okx) January 31, 2026
Elsewhere, Justin Sun is facing allegations from a self-described former lover. She claims coordinated TRX manipulation through multiple Binance accounts. Screenshots, chat logs, and testimony have reportedly been offered to regulators. Whether substantiated or not, the steamy story added gasoline to an already nervous market.
I was Justin’s girlfriend during the early stages of his entrepreneurship with TRX.
I am in possession of evidence showing that he used the identities and mobile phones of multiple employees to register numerous Binance accounts, through which he conducted coordinated buying and… https://t.co/u38AHSVC8A— 曾颖 (@tenten19901107) February 1, 2026
Michael Saylor also resurfaced in unrelated Epstein email disclosures, described unflatteringly by publicist Peggy Siegel. While not directly market-moving, it’s a drama worth mentioning. And we also love Saylor.
Epstein’s PR chic Peggy couldn’t figure out how to social engineer Saylor so she dubbed him a “creep” “zombie on drugs” anti-social and she had “run away from him.”
Listen Peggy. Saylor is on a mission. Steadfast, focused on $BTC. he’s not falling for this pedo BS. pic.twitter.com/Q6SIRry5Dp
— S (@0xSaliha) February 1, 2026
What’s Next? Expectation?
Ether USD looks ok-ish. The daily RSI sits near 32, oversold territory coming, while MACD remains firmly bearish. Support around $2,200 is now doing heavy lifting, but a clean break could drag Ether USD toward the $2,000 mark.
Bitcoin’s RSI, on the other hand, is near 35, with resistance around $80,000 and support closer to $70,000. Dominance has crept up closer to 60% than ever as altcoins bleed. The Fear and Greed Index plunged to 14, signaling extreme fear, although historically, this is a zone where markets stabilize.
Crypto Fear and Greed Chart
Crypto today offers two paths: a consolidation if supports hold, or deeper pain if bad news keeps coming. But if history is any guide, recoveries often follow moments like this. Liquidation numbers have bumped because there is more money in the industry, and Bitcoin has done more than 5X since its 2022 low to the ATH. It’s not all doom, but liquidation waves have proved, hope without risk management is just leverage in disguise.
Have to catch an early train, got to be to work by nine, and if I had an aeroplane, I still couldn’t make it on time. Just another manic Monday. Maybe.
DISCOVER:
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Yeah, how is it doing? Nevertheless, we love the meme. Apparently Epstein didn't care about Litecoin, so I got that goin' for me. — Litecoin (@litecoin) February 1, 2026 Considering the current state of the crypto market, only the brave are buying Bitcoin and cryptos. Even “value” traders are feeling shaky. Retail traders have largely exited, and most are just watching from the sidelines, observing how prices evolve. Every tick of the Bitcoin price is being closely tracked. The last time the BTC USD price traded at these spot levels was in mid-2025. Unlike the start of last year, the political landscape and institutional sentiment are different. Although the BTC USDT price bounced from similar spot levels before soaring to $126,000 in October 2025, the trading community doesn’t expect immediate technical or fundamental triggers in the short term. Still, confidence is recovering. Earlier today, the Bitcoin price snapped higher after last week’s sharp sell-off. Of note, the BTC USD price is still trading within the range of the January 31 bear bar. For bulls, however, the fact that prices didn’t sink below $74,000 is reason enough to smile. Read our full coverage here. India crypto tax rules face fresh pressure to soften its stance as trading activity reportedly continues to move offshore following yesterday’s Union Budget. Domestic volumes collapsed after the government locked in a 30% tax on crypto gains plus a 1% transaction tax, pushing users toward foreign exchanges. This comes as India crypto still ranks first in grassroots adoption, creating a sharp gap between usage and policy. When local exchanges dry up, users often turn to riskier offshore platforms accessed via VPNs and other methods. These offshore platforms tend to offer fewer protections in the event of an incident. 🇮🇳 India's Union Budget 2026-27 just dropped & here's what it means for your portfolio: – No tax relief for crypto (disappointing) Let me break down 5 things that actually… pic.twitter.com/f9kWS8caSE — Arnav | $P2P (@ArnavChouksey) February 1, 2026 Indian crypto investors being locked into a harsh 30% tax on crypto gains for the foreseeable future comes as the crypto market continues to struggle, with the Bitcoin price remaining below $78,000 after more than $500Bn was wiped from the total market cap since January 28. Read the full story here. On Polymarket, there are thousands, if not tens of thousands, of events you can bet on. Heck, you can even create an event right now: betting on yourself to be president of any country. It is a prediction market, and right now, it is all the rage, with action taking place on Polygon, the Ethereum sidechain. While gambling is technically legal in the US, it depends on what you are betting on and in which state. Each state, for example, California or Florida, has the power to regulate or ban it within its own borders. To put it in perspective, only 39 states allow sports betting, while only seven states allow online casinos. Interestingly, although online versions of gaming are highly restricted, you can walk in and play your favorite game in most states. Last week, a Nevada state court temporarily blocked Polymarket from offering event-based betting to residents. The ruling landed quietly, but it hit a nerve across crypto, where prediction markets already sit under a regulatory microscope. This comes as US regulators tighten control over who can legally offer crypto-powered bets. BREAKING: Nevada state court issues temporary restraining order against Polymarket over offering of event contracts, says that the CEA does not vest exclusive jurisdiction in the CFTC. TRO will remain in effect for 14 days; hearing on the PI motion scheduled for 2/11. pic.twitter.com/p1tRk38EMD — Daniel Wallach (@WALLACHLEGAL) January 30, 2026 POL, which powers the Polygon network that Polymarket runs on, is already under pressure. At press time, it is down -15% in the past week of trading, changing hands at $0.10. Read the full story here. Even if the market seems to just endlessly bleeding, projects did not stop building. Ripple, XRP, is pressing deeper into banking as tokenisation moves from theory to live trials. Now, holders are just waiting for the XRP price to do something. Or do they have to wait eight more years for a new ATH? Joking aside, for now, banks and crypto increasingly agree: tokenisation is the next big step for faster settlement, reduced middlemen, and efficient global finance. After Ripple’s landmark 2023 court win, where judges ruled XRP itself is not a security on public exchanges, legal clarity has given banks greater comfort to adopt Ripple’s tools without ongoing regulatory uncertainty. 📣 $XRP: On the SEC site is a Comprehensive Proposal for XRP to become a "Strategic Financial Asset for the U.S. So far, all has come into fruition: SEC clearance ✅️, DOJ restrictions removed ✅️, Federal Reserve OCC conditional approval ✅️. Next is the direct integration 👀 pic.twitter.com/creWh0W0sk — 🇬🇧 ChartNerd 📊 (@ChartNerdTA) February 2, 2026 Read the full story here. The race between the US and China won’t end anytime soon. With Trump back in office, it is clear that the goal is to ensure the US always leads, not just in tech but in soft power projection. So far, China has been successful in maintaining its dominance as the global factory. Meanwhile, no other country comes close to the US in policing the world. In 2022, Russia was sanctioned and cut off from the SWIFT system after invading Ukraine. China has had its fair share of trouble following President Trump’s announcement of new tariffs. Part of the October 10th market crash of 2025 was due to these aggressive tariffs on Chinese imports. The FT suggests that heavy tariffs on China by Trump would shrink the Chinese economy by less than 1%. A big reason for this modest impact is that China has diversified its exports away from the US in recent years. pic.twitter.com/6pYza1aIrb — Jostein Hauge (@haugejostein) February 17, 2025 As geopolitics shape market forces, it is not surprising that Xi Jinping, China’s president, recently stated that Beijing wants the yuan to become a global reserve currency, challenging the dominance of the greenback. Although the yuan is already a reserve currency held by some central banks, the USD is unrivaled. It is backed not just by the military but by being the main transacting currency for oil around the world. Read our full coverage here. The Michael Saylor Bitcoin experiment seemingly continues, with the Strategy executive chairman reportedly signaling another BTC buy as the leading digital asset slid hard over the weekend, briefly dropping below the company’s average purchase price. Just five days ago, on January 28, Bitcoin was trading above $90,000, but over the subsequent five days, it has crashed to $76,600, briefly tapping $75,440, a move that pushed Strategy’s massive BTC USD stack below its average cost of $76,037 for a brief moment. The sell-off has wiped over $500Bn from the total market cap since the beginning of last week, with growing global economic uncertainty and continued war rumors contributing to the market-wide crash, which has also affected tech stocks and precious metals. Read the full story here. The self-claimed ex-girlfriend of Tron founder Justin Sun has dropped a bombshell on the market, not only reviving scrutiny tied to the SEC’s long-running case against him but also tying him to Eileen Gu, a prominent Chinese American freestyle skier. The accusations, made by Zeng Ying, also known as Ten Ten, remain unproven, but they reopened uncomfortable questions for TRX holders. When regulators begin to circle a founder-led token, risk rises fast. Delistings, liquidity drops, and sudden volatility often follow. Ten Ten’s accusations didn’t stop at financial crime. She also linked Sun to Olympic skier Eileen Gu and dropped a mega-bombshell, saying, “I also have an ‘Epstein files’ of the crypto world.” https://twitter.com/tenten19901107/status/2018013101606785304 Read our full drama coverage here. Bitcoin slipped below $76,000 over the weekend, breaking under the average price paid by Strategy for its massive Bitcoin stash. The move erased roughly $3,000 in minutes as forced sell-offs ripped through thin weekend trading. It lands in a market already tense from slowing ETF demand and rising leverage. Price failed to hold $80,000 and dropped toward $75,000, a level last seen during April’s 2025 panic low. Whats next? Read the full story here. It is hard being Binance. While the exchange remains the largest in the world by trading volume and user count, that dominance comes with a catch: with great power comes heavy scrutiny. Undoubtedly, Binance plays a critical role in the industry, enabling hundreds of millions to access and trade digital assets. As of the end of December 2025, the exchange said it has over 300 million users. Yet, this milestone hasn’t shielded the exchange, or its founder, Changpeng Zhao (CZ), from being “slivered” by critics. While Binance remains the go-to platform for global users, fresh doubts about centralized exchanges (CEXs) have emerged in the wake of the 10/10 crash. The journey never stops: 300 million users today, a billion ahead with @binance pic.twitter.com/YCvCRzBcb6 — Binance (@binance) December 8, 2025 Read the full story here. Currently, BNB crypto is trading below $800. However, it remains in the top 5 by market cap and is a favorite for many investors. Meanwhile, Bitcoin remains volatile, dragging the broader market through its erratic price swings.How is LTC Doing?
Bitcoin Price Bounces After -11% Weekend Drop as Weekday Buyers Return
India Crypto Tax Faces Pressure as Trading Moves Offshore
– STT on derivatives went UP (bullish)
– Cloud & AI infrastructure got MASSIVE push (game changer 🚀)
Nevada Court Blocks Polymarket, Raising New Risks for US Users
Ripple Nears Banks But XRP Price Keeps Dumping
China Wants the Yuan to Rival the Dollar: What That Means for Bitcoin
Michael Saylor Hints at Bitcoin Buy as Strategy Stock Tumbles
Justin Sun Dating Eileen Gu? Crypto’s Eipstein Files? Ex-Girlfriend Drops Bombshell on Tron Founder
Bitcoin Price Breaks $76K: $2B Liquidated
Binance BNB Crypto Trust Numbers Collide With FUD After 10/10 2025 Crash
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