The price of BTC shows a multi-cycle bearish resonance pattern, having entered a deep bear market zone at the daily level. The concentrated release of negative news has triggered market panic, although there are some localized signals for bottom fishing.

On February 6th, Eastern Standard Time, the cryptocurrency market experienced a typical "roller coaster"行情 within 24 hours: the major coins saw a maximum drop of over 15% during the day, followed by a rapid rebound, with prices returning to key ranges. At this time, **BTC** was fluctuating around **$64,000-64,005**, with a 24-hour drop of about **12.3%-12.4%**; **ETH** returned to around **$1,900-1,902**, with a daily drop of about **11.59%-11.98%**. This round of sharp declines and surges was

On February 6, 2026, at 8:00 AM UTC+8, the cryptocurrency market experienced a rare shock, with Bitcoin plummeting over 15% within 24 hours, briefly dropping below the **$60,000—$61,000 range**, leading to a collective dive of mainstream assets such as Ethereum, BNB, and SOL. The rapid decline in prices triggered a chain reaction in the futures market, with many high-leverage long positions being passively liquidated, and retail sentiment quickly shifted from hesitation to panic. Meanwhile, on-chain and financial report data indicated that some institutions and large holders...

Starting from 07:30, within 36 minutes, the BTC price plummeted from $64,469 to $61,666, a drop of 4.35%.

On February 6, 2026, at 8:00 AM UTC+8, the cryptocurrency market experienced a severe systemic correction, with mainstream assets such as Bitcoin, Ethereum, and SOL collectively plummeting, triggering billions of dollars in forced liquidations across the network. Bitcoin briefly fell below the **$60,800-$60,900** range, Ethereum dropped below **$1,800**, and SOL fell to below **$70**, with the total market capitalization of cryptocurrencies shrinking to approximately **$2.267 trillion**, evaporating over 10% of its market value within 24 hours.

This week, in the East Eight Time Zone, the cryptocurrency market experienced one of the most severe single-day corrections since the FTX collapse, with mainstream coins like BTC, ETH, and BNB collectively plummeting, and the derivatives market saw a sharp increase in liquidations. Bitcoin's intraday maximum drop reached **15.48%**, briefly falling to **$61,156.3**, ETH temporarily dropped below **$1,800**, and BNB fell below the **600 USDT** mark. The total liquidation scale across the market in 24 hours was reported by multiple sources to be approximately **1**.

The U.S. Treasury Secretary criticizes opponents of the cryptocurrency bill, suggesting that those who do not support regulators should move to El Salvador; Binance's Zhao Changpeng responds to rumors of insolvency; JPMorgan states that Bitcoin's long-term appeal surpasses that of gold.

Starting from 03:00, within 111 minutes, the price of ETH plummeted from $1952 to $1823, a decrease of 6.62%.

From 03:35, within 46 minutes, the BTC price plummeted from $66,141 to $63,825, a drop of 3.51%.

From February 5 to 6, Eastern Standard Time, the cryptocurrency market experienced a severe correction, with mainstream asset prices plummeting. The leading institutions most closely tied to these assets instantly fell into significant unrealized losses. **BitMine**'s heavy position in ETH and **MicroStrategy**'s long-term accumulation in BTC were scrutinized under a microscope, with ongoing doubts about liquidity and risk tolerance. As prices fell, leveraged long positions faced concentrated liquidations, leading to on-chain and exchange liquidations.

Starting from 22:35, within 51 minutes, the BTC price plummeted from $70,849 to $66,710, a drop of 5.88%.

Starting from 22:35, within 31 minutes, the price of ETH plummeted from $2107 to $2012, a drop of 4.56%.

On February 5, 2026, at 8:00 AM UTC+8, **Gemini** announced that it would close its operations in **the UK, the European Economic Area, and Australia**, hitting the brakes hard for a trading platform that once boasted about its globalization story. According to the announcement, relevant accounts will be fully shut down on **April 6, 2026**. The platform has already entered the "asset withdrawal period" for existing users: **from March 5, only withdrawal functions will be retained**, after which the registration portal will be closed, incentive programs will be halted, and account permissions will be continuously restricted.