TLDR Bitcoin experienced a sharp decline, dropping nearly $10,000 in a single day and briefly touching the $60,000 mark. The sell-off wiped out over $2 billion TLDR Bitcoin experienced a sharp decline, dropping nearly $10,000 in a single day and briefly touching the $60,000 mark. The sell-off wiped out over $2 billion

Crypto Sell-Off Wipes Billions as Bitcoin and Altcoins Suffer Heavy Losses

2026/02/07 00:51
3 min read

TLDR

  • Bitcoin experienced a sharp decline, dropping nearly $10,000 in a single day and briefly touching the $60,000 mark.
  • The sell-off wiped out over $2 billion in leveraged positions, causing panic among traders.
  • The broader market was affected by weaker-than-expected U.S. job openings data, triggering sell-offs in equities and crypto.
  • Bitcoin’s volatility surged to levels seen during major market stress events, indicating panic-driven selling.
  • Key support levels for Bitcoin include the $57,000 zone, with further downside potential around the $54,000 to $55,000 range.

The cryptocurrency market has plunged sharply, with Bitcoin falling nearly $10,000 in one day. The drop briefly touched the $60,000 level, sparking widespread panic and wiping out over $2 billion in leveraged positions. The intense sell-off is fueled by broader macroeconomic pressures, including disappointing U.S. job openings data, which led to sell-offs in equities and spilled over into crypto.

Bitcoin Faces Severe Losses Amid Growing Panic

Bitcoin’s price volatility surged to historic levels during the sell-off. This type of volatility typically signals periods of extreme market stress, and this time was no different. Forced liquidations in the futures market reached record levels, driving sharp price declines followed by sudden rebounds. Such erratic market behavior suggests that panic is dominating the market rather than rational trading.

Traders are closely watching key support levels, with Bitcoin potentially revisiting the $57,000 zone, which has acted as a significant support area. Below that, the $54,000–$55,000 range remains another critical zone to watch. While this market behavior resembles the capitulation phase of previous cycles, it does not guarantee an immediate recovery.

Altcoins Struggle as Market Sentiment Turns Bearish

Altcoins have suffered heavily, with market structures across many tokens remaining weak. Ethereum, one of the largest altcoins, has been under strong selling pressure. Analysts suggest it could fall toward the $1,500 level or lower if the current conditions persist.

XRP, another popular token, is edging closer to the $0.60 mark, with no clear signs of a trend reversal. Solana has seen a sharp decline, dropping into the $60–$70 range. Despite the sharp sell-off, short-term rebounds of 30% or more are possible, but analysts warn that any recovery is likely to remain volatile and within a broader downtrend.

Crypto Sell-Off Drives Surge in USDT Dominance

USDT dominance has risen sharply, indicating that investors are moving capital into stablecoins amid the heightened volatility. While this shift may be short-term, sustained strength in USDT dominance could be bearish for Bitcoin and the broader crypto market. A pullback in stablecoin dominance might trigger a relief rally, pushing Bitcoin back toward the $70,000–$80,000 range.

For now, the market remains under pressure, and traders are closely monitoring the developments in the USDT dominance. If this trend reverses, it could provide the spark for a more sustained recovery.

The post Crypto Sell-Off Wipes Billions as Bitcoin and Altcoins Suffer Heavy Losses appeared first on CoinCentral.

Market Opportunity
Union Logo
Union Price(U)
$0.001583
$0.001583$0.001583
+1.99%
USD
Union (U) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.

You May Also Like

Cashing In On University Patents Means Giving Up On Our Innovation Future

Cashing In On University Patents Means Giving Up On Our Innovation Future

The post Cashing In On University Patents Means Giving Up On Our Innovation Future appeared on BitcoinEthereumNews.com. “It’s a raid on American innovation that would deliver pennies to the Treasury while kneecapping the very engine of our economic and medical progress,” writes Pipes. Getty Images Washington is addicted to taxing success. Now, Commerce Secretary Howard Lutnick is floating a plan to skim half the patent earnings from inventions developed at universities with federal funding. It’s being sold as a way to shore up programs like Social Security. In reality, it’s a raid on American innovation that would deliver pennies to the Treasury while kneecapping the very engine of our economic and medical progress. Yes, taxpayer dollars support early-stage research. But the real payoff comes later—in the jobs created, cures discovered, and industries launched when universities and private industry turn those discoveries into real products. By comparison, the sums at stake in patent licensing are trivial. Universities collectively earn only about $3.6 billion annually in patent income—less than the federal government spends on Social Security in a single day. Even confiscating half would barely register against a $6 trillion federal budget. And yet the damage from such a policy would be anything but trivial. The true return on taxpayer investment isn’t in licensing checks sent to Washington, but in the downstream economic activity that federally supported research unleashes. Thanks to the bipartisan Bayh-Dole Act of 1980, universities and private industry have powerful incentives to translate early-stage discoveries into real-world products. Before Bayh-Dole, the government hoarded patents from federally funded research, and fewer than 5% were ever licensed. Once universities could own and license their own inventions, innovation exploded. The result has been one of the best returns on investment in government history. Since 1996, university research has added nearly $2 trillion to U.S. industrial output, supported 6.5 million jobs, and launched more than 19,000 startups. Those companies pay…
Share
BitcoinEthereumNews2025/09/18 03:26
Silver Price Crash Is Over “For Real This Time,” Analyst Predicts a Surge Back Above $90

Silver Price Crash Is Over “For Real This Time,” Analyst Predicts a Surge Back Above $90

Silver has been taking a beating lately, and the Silver price hasn’t exactly been acting like a safe haven. After running up into the highs, the whole move reversed
Share
Captainaltcoin2026/02/07 03:15
Citi Caps Year-End at $4,300, But ETF outflows Challenge Outlook

Citi Caps Year-End at $4,300, But ETF outflows Challenge Outlook

The post Citi Caps Year-End at $4,300, But ETF outflows Challenge Outlook appeared on BitcoinEthereumNews.com. Ethereum Price Prediction: Citi Caps Year-End at $4,300, But ETF outflows Challenge Outlook Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk. Related News © 2025 NewsBTC. All Rights Reserved. This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy. I Agree Source: https://www.newsbtc.com/news/ethereum/ethereum-price-prediction-citi-caps-year-end-at-4300-but-etf-outflows-challenge-outlook/
Share
BitcoinEthereumNews2025/09/18 14:30