TL;DR
- Bitcoin dipped below $66,000, bounced to $67,000, after rejection at $71,000 to $72,000.
- After February 6 low at $60,000, BTC stayed down 1.5%, with market cap below $1.340 trillion and dominance under 56.5%.
- ETH fell below $2,000; XRP and SOL lost nearly 5%, while M and HASH dropped over 10% as total market value fell $50 billion to $2.370 trillion.
Bitcoin’s slide deepened overnight, dragging the crypto market into the red as BTC briefly dipped below $66,000 before recovering to roughly $67,000. Price action is sending a clear message: rallies are being sold, not followed. After multiple failures at the $71,000 to $72,000 zone, traders are treating risk as tactical, keeping exposure light and time horizons short. The softness is spilling into majors, with Ethereum losing the $2,000 handle again and large caps like XRP showing outsized weakness versus the pack, day after day, with liquidity providers in control.
Majors fade as volatility compresses
The downdraft follows a rebound that never converted into sustained momentum. Bitcoin is trapped in a range that rewards defense and punishes impatience. After a February 6 plunge to a 15-month low at $60,000, BTC snapped higher toward $72,000, but repeated rejections at $71,000 to $72,000 capped every breakout attempt, including the latest weekend push near $71,000. Bears drove price to $67,000 on Tuesday, extended losses on Wednesday, and briefly forced a break below $66,000 for the first time since last Friday, before a modest bounce.
Even with the rebound, the benchmark still looked pressured on metrics. The tape is calm in volatility terms, but it is decisively risk-off in breadth. BTC was more than 1.5% lower on the day, with market capitalization slipping below $1.340 trillion and dominance over altcoins struggling under 56.5% on CoinGecko. Most altcoins still stayed in the red. Ethereum’s move above $2,000 quickly faded, sending it back below support. Among larger caps, XRP and SOL led losses at nearly 5%, leaving XRP just above $1.40 and SOL near $82.
Selling broadened down the cap stack and punished liquidity names. The market’s pain is concentrating where depth is weakest, amplifying drawdowns in smaller tickers. DOGE, ADA, BNB, LINK, and CC were down by as much as 4%, while ZEC slid notably 8.5% to $260. The steepest declines were in M and HASH, each dumping more than 10% over 24 hours. In aggregate, total crypto market value erased another $50 billion on the day and fell to about $2.370 trillion, a setup that keeps dip buyers cautious heading into the next session.
